Company registration number: 08347511 Charity registration number: 1153626
River City Church Cardiff
(A company limited by share capital) Annual Report and Financial Statements
for the Year Ended 31 January 2021
AIMS - Steve Hallett 22-24 James Street Cardiff CF10 5EX
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
Reference and Administrative Details
Trustees Adam Carbis Christopher Peter Lawrence Andrew Peter James Edwards Principal Office 37 Australia Road Cardiff CF14 3BZ Company Registration Number 08347511 Charity Registration Number 1153626 Independent Examiner AIMS - Steve Hallett 22-24 James Street Cardiff CF10 5EX
Page 1
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 January 2021.
The trustees (who are also the directors of River City Church Cardiff for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
Trustees' Report
Like many organisations and charities this year proved to be like no other. This past year the church continued to gather at Insole Court, Llandaff each Sunday with an average attendance of 30-40 until mid-March where lockdown meant church had to be reimagined.
As the pandemic hit, in-person gatherings were no longer possible, and we had to move all our activities online. In the first 6 months engagement was strong through Facebook Live and Zoom. We found that it engaged with individuals who had never been to any of our in-person gatherings or events. Some of our Facebook Live videos have had over 3000 views. This far exceeded our expectations.
We were encouraged to run an online Alpha Course with those that attended making a commitment to the Christian faith.
We were able to provide food parcels and financial support to individuals and families who had found that the pandemic made things financially difficult. This support was given through the congregation’s relationships with their neighbours for example.
As the year continued and restrictions began to ease, we found that it caused a challenge for the church to see how it could continue to connect and engage with its congregation and the local community. We held regular online socials and church gatherings throughout the week.
In the next year as we look to regain a sense of normality, we hope that we can get back to gathering in-person and look to see new ways to make a difference in the local community.
The annual report was approved by the trustees of the charity on 28 October 2021 and signed on its behalf by:
......................................... Christopher Peter Lawrence Trustee
Page 3
Independent Examiner's Report to the trustees of River City Church Cardiff
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 January 2021 which are set out on pages 5 to 11.
Respective responsibilities of trustees and examiner
As the charity’s trustees of River City Church Cardiff (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of River City Church Cardiff are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of River City Church Cardiff as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Steve Hallett FCA
22-24 James Street Cardiff CF10 5EX
28 October 2021
Page 4
Statement of Financial Activities for the Year Ended 31 January 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Total Income Expenditure on: Charitable activities 5 Other expenditure Total Expenditure Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted £ 32,318 170 32,488 (27,513) (480) (27,993) 4,495 4,495 5,106 9,601 |
Total 2021 £ 32,318 170 32,488 (27,513) (480) (27,993) 4,495 4,495 5,106 9,601 |
Total 2020 £ 38,885 426 |
|---|---|---|---|
| 39,311 | |||
| (41,437) (600) |
|||
| (42,037) | |||
| (2,726) | |||
| (2,726) 7,832 |
|||
| 5,106 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note .
The notes on pages 7 to 11 form an integral part of these financial statements. Page 5
(Registration number: 08347511) Balance Sheet as at 31 January 2021
| Note Fixed assets Tangible assets 8 Current assets Cash at bank and in hand 9 Creditors: Amounts falling due within one year 10 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2021 £ 2,614 9,685 (2,698) 6,987 9,601 9,601 9,601 |
2020 £ 2,728 3,338 (960) |
|---|---|---|
| 2,378 | ||
| 5,106 | ||
| 5,106 | ||
| 5,106 |
For the financial year ending 31 January 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on 28 October 2021 and signed on their behalf by:
......................................... Christopher Peter Lawrence Trustee
The notes on pages 7 to 11 form an integral part of these financial statements. Page 6
Notes to the Financial Statements for the Year Ended 31 January 2021
1 Charity status
The charity is limited by share capital, incorporated in .
The address of its registered office is: 37 Australia Road Cardiff CF14 3BZ
These financial statements were authorised for issue by the trustees on 28 October 2021.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
River City Church Cardiff meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 7
Notes to the Financial Statements for the Year Ended 31 January 2021
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £50.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Equipment 25% reducing balance basis Motor vehicles 25% reducing balance basis
Research and development
Research and development expenditure is written off as incurred.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 8
Notes to the Financial Statements for the Year Ended 31 January 2021
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).
Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:
1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and
3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
3 Income from donations and legacies
Page 9
Notes to the Financial Statements for the Year Ended 31 January 2021
| Donations and legacies; Donations from individuals Total for 2021 Total for 2020 4 Income from charitable activities Meetings and Events Total for 2021 Total for 2020 5 Expenditure on charitable activities Note Meetings and Events Employment costs Administration costs Travel costs Sundry Depreciation Total for 2021 Total for 2020 6 Independent examiner's remuneration Examination of the financial statements |
Unrestricted funds General £ 32,318 32,318 38,885 Unrestricted funds General £ 170 170 426 Unrestricted funds General £ 4,476 16,348 2,820 2,124 875 870 27,513 41,437 2021 £ 480 |
Total funds £ 32,318 |
|---|---|---|
| 32,318 | ||
| 38,885 | ||
| Total funds £ 170 |
||
| 170 | ||
| 426 | ||
| Total funds £ 4,476 16,348 2,820 2,124 875 870 |
||
| 27,513 | ||
| 41,437 | ||
| Total expenditure £ 2020 £ 600 |
Page 10
Notes to the Financial Statements for the Year Ended 31 January 2021
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Tangible fixed assets
| Cost At 1 February 2020 Additions At 31 January 2021 Depreciation At 1 February 2020 Charge for the year At 31 January 2021 Net book value At 31 January 2021 At 31 January 2020 9 Cash and cash equivalents Cash at bank 10 Creditors: amounts falling due within one year Trade creditors Accruals |
Furniture and equipment £ 5,137 756 5,893 3,572 580 4,152 1,741 1,565 |
Furniture and equipment £ 5,137 756 5,893 3,572 580 4,152 1,741 1,565 |
Motor vehicles £ 4,900 - |
Total £ 10,037 756 10,793 7,309 870 8,179 2,614 2,728 2020 £ 3,338 |
|
|---|---|---|---|---|---|
| 5,893 | 4,900 | ||||
| 3,572 580 |
3,737 290 |
||||
| 4,152 | 4,027 | ||||
| 1,741 | 873 | ||||
| 1,565 | 1,163 | ||||
| 2021 £ 9,685 2021 £ 2,218 480 2,698 |
|||||
| 2020 £ - 960 |
|||||
| 960 |
11 Related party transactions
During the year the charity made the following related party transactions:
Christopher Lawrence
Christopher Lawrence was employed as part-time church leader at a total cost of £16,347.81. At the balance sheet date the amount due to/from Christopher Lawrence was £Nil (2020 - £Nil).
Page 11