The Redeemed Christian Church Of God - Fountain Of Prayer Receipt and Payment Account For the year ended 31 March, 2022
| Incoming Resources NOTES Donations and other Income Tithes and offering HMRC: Gift aid Other income Total Incoming resources Direct Charitable expenses Donations and grants Tapes and books Travel expenses Ministry costs Children's ministry Pastoral expenses Honorarium Fundraising and publicity Premises costs Governance cost Total Resources expended Deficit/Surplus Exceptional items Profit on disposal of tangible assets Profit on disposal of investments |
Restricted Unrestricted 2022 2021 2022 2021 £ £ £ £ 34,678 13,934 27,296 33,015 24,424 38,768 |
|---|---|
| 33,015 - 86,398 52,702 |
|
| 3,722 1,566 4,294 2,500 13,647 12,000 |
|
| - - 21,663 16,066 |
|
| - 26,870 30,154 34,806 1,309 |
|
| - - 61,676 31,463 |
|
| - 83,339 47,529 |
|
| 33,015 - 3,059 5,173 |
|
| - - - - - - - - |
|
| - |
Net incoming resources
Balance for the year Fund balances brought forward Fund balances carried forward
| 3,059 | 5,173 | ||
|---|---|---|---|
| - | - | 3,059 | 5,173 |
The Redeemed Christian Church Of God - Fountain Of Prayer Balance Sheet
As at 31 March, 2022
| Fixed Asses Notes Tangible assets 7 Current Assets Cash at bank and in hand Debtors & Prepayment 8 Creditors: Amount due within one year 9 Net Current Assets Total assets less current liabilities Creditors: Amount due more than one year Net Assets Funds Restricted 10 Unrestricted 10 |
£ 47,214 24,350 |
2022 £ 10 |
£ 51,137 4,026 |
2021 £ 10 |
|---|---|---|---|---|
| 10 | 10 | |||
| 71,564 35,500 |
55,163 | |||
| 36,074 | 55,173 | |||
| 36,074 | 55,173 | |||
| 33,015 3,059 |
50,000 5,173 |
|||
| 36,074 | 55,173 |
The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under section 477 of companies Act 2006 and that the members have not required the organisation to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge responsibilities for complying with the requirements of Charity Commission with respect to accounting records and the preparation of accounts.
Olufunmi Akintujoye Approved by the board on 20th July, 2022
The Redeemed Christian Church Of God - Fountain Of Prayer
Notes to the Accounts
For the year ended 31 March, 2022
1. Accounting Policies
Basis of preparation
The financial statements have been prepared in accordance with the provisions of the Charities Commission 1993 and the Charities (Accounts and Reports) Regulations promulgated thereunder and the statements of Recommended Practice issued by the Charity Commission.
Unrestricted funds represent funds which are expendable at the discretion of the trustees in furtherance of the objects of the church and are held in the general fund
Restricted Funds represent grants and donations received and tax refunds arising thereon, which were allocated by the donor for the specific purposes.
Direct Charitable expenditure
Direct Charitable expenditure includes all expenditure which is direectly related to the objects of the charity and comprises grants paid and costs which are directly attributable to charitable activities including charitable support costs.
Management and administration costs
Management and administration costs represent expenditure incurred in the management of the assets of the charity, organisational administration and compliance with constitutional and other statutory requirements. None of the trustees received any renumeration, nor were paid expenses in the year ended 31/03/2022.
Grants and donations
There were no accruals for these items at the year end
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor Vehicle 10% reducing balance Furniture & Fittings 10% reducing balance Equipment & instrument 5% reducing balance
2. Incoming Resources
These are recognised in full in the statement of Financial Activities in the period in which these are received.
3. Direct charitable expenditure
These comprises all expenditure directly related to the objects of the charity. It also includes expenditure in support of such activity where material.
4. Fundraising and publicity
| 4. Fundraising and publicity | 4. Fundraising and publicity | |
|---|---|---|
| Promotional activities The Redeemed Christian Church Of God - Fountain Of Prayer Notes to the Accounts (contd.) For the year ended 31 March, 2022 5. Premises cost Premises cost and interest Repairs and maintenance 6. Governance costs Payroll & other administrative costs Printing, postage and stationery Bank charges Accountancy fees Telephone Sundry expenses/Training & Development Depreciation 7. Tangible fixed assets Motor Equipment Vehicle & instrument £ £ Cost At 1st April, 2021 - - Additions during the year At March, 2022 - - |
2022 2021 £ £ - - |
|
| - - |
||
| 2022 2021 £ £ 30,154 30,154 - - |
||
| 30,154 30,154 |
||
| 2022 2021 £ £ 27,434 166 670 176 2,781 3,180 1,123 565 10 |
||
| 34,806 1,299 |
||
| Furnitire & TOTAL Fittings £ £ - - |
||
| - - |
- - |
Depreciation
| At 1st April, 2021 - 10 Charged for the year - At March, 2022 - 10 Net book value At March, 2022 - - 10 At 1st April, 2021 - - 10 The Redeemed Christian Church Of God - Fountain Of Prayer Notes to the Accounts (contd.) For the year ended 31 March, 2022 8. Debtors & prepayments Debtors Other debtors & prepayments Amount due more than one year 9. Creditors & Accruals Amount due within one year Creditors Accruals |
- 10 - |
- 10 - |
|---|---|---|
| - 10 |
- 10 |
|
| - - 10 |
- - 10 |
|
| - - 10 |
- - 10 |
|
| 2022 2021 £ £ 24,350 4,026 |
||
| 24,350 4,026 |
||
| - - |
||
| 2022 2021 £ £ 35,500 |
||
| 35,500 - |
10. Funds
| 10. Funds | |
|---|---|
| At 1st April, 2021 Net incoming resources At 31st March, 2022 |
Restricted Restricted Unrestricted Unrestricted 2022 2021 2022 2021 £ £ £ £ - 33,015 50,000 3,059 5,173 |
| 33,015 50,000 3,059 5,173 |
The Redeemed Christian Church Of God - Fountain Of Prayer
Independent Examiner's Report
For the year ended 31 March, 2022
I report on the accounts for the year ended 31st March, 2022 which are set out on pages 2 to 6.
Respective responsibilities of trustees and examiner
The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examiner is needed.
It is my responsibility to:
-
Examine the books of account (under section 43 of the Act)
-
To follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act, and
-
To state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In the course of my examination, no matter has come to my attention;
-
which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with the accounting records and comply with the accounting requirements of the 1993 Act; have not been met; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Oladele Bakare
BO & Co Accountants Ltd