REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
Company reg. no 08768971 Charity reg. no.1158718
DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
CONTENTS
| Reference and administrative details of the charity | 3 |
|---|---|
| Directors' report | 4 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 13 |
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
Company Information
Director/Trustees Mr Lucky Albert as @ 31st Dec 2021 Mrs Funmilayo Adetunji Mrs Jelilat Dada Ms Abidemi Akeredolu
Company number 08768971 Charity reg. no. 1158718 Registered office 202 Chells Way Stevenage Hertfordshire SG2 0LZ
Accountants
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire ALI0 9FF
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT FOR YEAR ENDED 31 DECEMBER 2021
The directors and trustees present their report and the accounts for the year ended 31st December 2021
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the the accounts and comply with the charity's memorandum and articles, applicable by law (Companies Act 2006 and Charities Act 2011) and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities"issued in March 2005.
Legal and Administrative details
Redeemed Christian Church of God New Life Assembly Borehamwood was incorporated as a private company, limited by guarantee, on 11 November 2013, company number 08768971 and charity on 15th July 2015.
Trustees
The trustees who are also directors for the purposes of the Companies Act 2006 that served in the year were as follows:
Directors
Mr Lucky Albert Mrs Funmilayo Adetunji Mrs Jelilat Dada Ms Abidemi Akeredolu
Structure, Governance and Management
Governing Document
The company is limited by guarantee and registered as a charity under the Charities ACT 2011. The company has applied for charitable status for taxation purposes and is currently a registered charity.
Anyone over the age of 16 can become a member of the company subject to approval by the trustees.
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2021
Governing document continued…..
No director has any beneficial interest in the charitable company. The number of guarantees at 31 December 2021 was four. Every member of the Charity promises that if the Charity is dissolved while he or she is a member or within twelve months after he or she ceases to be a member, to contribute such sum (not exceeding £10) that may be demanded towards the payment of debts and liabilities of the Charity.
Appointment of trustees begun from the first annual general meeting and was in accordance with the articles of association. At every subsequent annual general meeting, one third of the trustees are subject to retirement by rotation.
If the company at the meeting at which a trustee retires by rotation does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to be reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution is put to the meeting and lost. The number of trustees shall not be less than two and are not subject to any maximum . Trustees have the power to co opt members to a commitee so long as those co opted members do not exceed one half of the total number of trustees on that committee.
Trustee Induction and Training
Any new trustees undergo an orientation day to brief them on their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be use for the undertaking of the role.
Organisational Structure
The trustees, which as at 31 December 2021 were four provide the strategic direction of the charity. The aims and objectives are communicated to the congregation and members of the church.
Assets held on behalf of another charity
There are no assets held on behalf of another charity.
From the strategy the trustees have identified a few minor risks. These are known to the trustees and are mitigated accordingly.
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2021
Risk Management
The trustees have a risk management strategy that includes:
ii. The establishment of systems and procedures to mitigate those risks identified in the plan; iii. The implementation of procedures designed to minimise any potential impact on the charity should they materialise.
Financial risk is to be mitigated by the secretary monitoring the bank frequently to ensure no losses from error or fraud take place.
The policies of risk management are continuously reviewed to ensure they still meet the needs of the charity.
Objectives
The charity's objects are:
-
"The advancement of the Christian religion worldwide,"
-
"The relief of poverty worldwide."
-
To impact the community in every positive way possible.
It pursues these objects by the operation of a centre for Christian worship at its premises in the town center of Borehamwood town and by a programme of events aimed at reaching out to the unchurched together with a range of community-centred projects. These objectives have continued throughout the Year and remain unchanged.
The strategies employed to achieve the charity's objectives are to:
To establish churches, cell groups, and community centres
To promote festivals celebrations and exhibitions and otherwise develop community and fellowship To coordinate advise and administer churches
To carry out and direct discipleship, evangelistic, missionary and ecumenical activity To support administer or set up other charities
To set up, administer or support training and educational facilities including but not limited to day nurseries, playschools and other educational establishments.
To provide advice, resources and services to those affected by social and economic circumstances To establish and maintain development projects in small scale economic development and medical programmes.
To make investments in the aid of the finances to carry on further activities.
The charity has serveral powers permitted by the Memorandum of Association that allow the above strategies be achieved.
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2021
ACTIVITIES FOR PUBLIC BENEFIT:
Achievements and Performances : The Trustees are pleased to report the following activities have been carried out in 2021 and these have helped the charity build a wider network of relationships and relevance within and around our community. We are constantly seeking new ways to engage, serve, remain relevant and make better impact to the people within and around our community.
FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees of New Life Assembly Borehamwood are pleased to report the following activities amongst others were carried out in 2021 , which has assisted the charity to connect , better engage and serve our community especially during the Covid 19 Pandemic ,whilst also seeking other ways to remain relevant to the people within and around our community.
Mother’s Day Celebrations Sunday Service - March 2021: The Church organised a special service in honour of All mothers . Special Prayers were offered and the children’s church presented a short clip to honour Mothers . This event was opened to the Public and was online via Zoom.
Global Outreach Day – May 2021: The Charity was part of the Annual outreach event. We joined millions across the world virtually in reaching out and sharing the message of the Good news.
Father’s Day Celebrations Sunday Service- June 2021: In honour of All Fathers the church organised a special service virtually . The event was open to All. Special prayers were made for Fathers; the children’s church made a presentation in honour of the Fathers.
Annual special children’s Anointing & thanksgiving service : A special thanksgiving Service and prayers for children held in September. Refreshments were served to All on the day.
Hertsmere Civic Service : We joined other faith groups and dignitaries within the community and were in attendance at the civic service on 03/10/21 with the Mayor of Hertsmere Cllr Anne Swerling.
Interfaith Week Nov 2021 : We joined other Faith groups and other stake holders within the community at a tour talk and tea event held at the Borehamwood Food bank.
Samaritan’s Purse (Operation Christmas Child) -Nov 2021: Inspite of the Covid 19 pandemic and as part of our annual event with the support of members, their families and friends we made a cheque donation of £325 (three hundred and twenty five pounds only)- for Christmas shoeboxes bringing smiles, hope and the joy of Christmas to children across the nations of the world.
Christmas Gift items : Our yearly Family Christmas party for members, their families, friends and members of the public, which is platform for building bridges and fortifying family ties with Free Dinner and drinks for all could not hold physically due to the Pandemic. However the church sent Christmas gift items to every child and every family was also presented with Christmas gift items to celebrate the festive seasons.
All our services were held virtually via Zoom until July. We started in person service in Aug in addition to virtual service via zoom.
We also remain active members of the Hertsmere Forum of Faith. Whilst also engaging actively with other churches within the Elstree and Borehamwood Christian Council (EBCC) and also fulfilling our financial obligations.
Approved by the Directors on 30th Sept 2022 and signed on their behalf by:
Mr Lucky Albert. Director/Trustee
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2021
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| Funds | Funds | Funds | Funds | ||||
| Notes | £ | £ | £ | £ | |||
| INCOMING RESOURCES | |||||||
| Donations | 2 | 28,250 | 28,250 | 29,093 | |||
| - | - | ||||||
| Gift aid | 6,500 | 6,500 | 7,193 | ||||
| Total incoming resources | 34,750 | - | 34,750 | 36,286 | |||
| RESOURCES EXPENDED | |||||||
| Cost of generating funds | 4 | 24,078 | 24,078 | 23,970 | |||
| Costs of activities in furtherance of charities objects | 6,402 | 6,402 | 8,083 | ||||
| Management and governance costs | 645 | 645 | 1,471 | ||||
| Total resources expended | 31,125 | - | 31,125 | 33,524 | |||
| - | - | ||||||
| Net (Outgoing)/Income resources for year | 3,625 | 3,625 | 2,762 | ||||
| - | - | ||||||
| Balance b/fwd | 141,729 | 141,729 | 188,967 | ||||
| Prior Year Adjustment | - | 50,000 |
|||||
| BALANCE AT END OF YEAR | 145,354 | - | 145,354 | 141,729 |
The statement of financial activities includes all surpluses and deficits recognised in the year.
All incoming resources and resources expended derive from continuing activities.
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD Balance Sheet
At 31 DECEMBER 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Total | Total | ||
| Funds | Funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | |||
| CURRENT ASSETS | |||
| Debtors: amounts falling due after more than one year | 6,500 | ||
| Cash in hand | 139,204 | 142,079 | |
| 145,704 | 142,079 | ||
| LIABILITIES | |||
| Accrual | 12 | 350 | 350 |
| 350 | 350 | ||
| NET ASSETS | 145,354 | 141,729 | |
| CHARITY FUNDS | |||
| General - unrestricted | 1d | 145,354 | 141,729 |
| General - restricted | 1e | ||
| TOTAL FUNDS | 145,354 | 141,729 |
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
• 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 special provisions of Part 15 of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements were approved by the Directors on 30th Sept 2022 and signed on their behalf by:
Mr Lucky Albert - Director/Trustee
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
Notes to the Financial Statements FOR YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES Value added tax
Stocks
Stocks are stated at the lower of cost and net realisable value.
Taxation
The charitable company has dormant status for corporation tax by HMRC.
2. DONATIONS AND GIFTS
| Offering Gift aid 3. ACTIVITIES FOR GENERATING FUNDS |
2021 2020 £ £ 28,250 29,093 6,500 7,193 |
|---|---|
| 34,750 36,286 |
|
| 2021 2020 £ £ |
|
| - - |
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
Detailed Statement of Financial Activities FOR YEAR ENDED 31 DECEMBER 2021
| Voluntary income Donations Gift aid RESOURCES EXPENDED Charitable activities World Evangelism Mission - WEM Central Office Honorarium Events/Conferences Donations/Welfare Hospitality Support Costs Rent Office expenses Pastors Stipend Equipment Printing, Postage and stationary Storage Zonal & Area Dues Travel Expenses Children Books, CDs and Tapes Advert & Publicity HMRC Website Covid expense Insurance Other Goverance Total resources expended c/fwd |
2021 2020 £ £ 28,250 29,093 6,500 7,193 |
|---|---|
| 34,750 36,286 |
|
| 3,789 4,964 1,200 1,200 250 - 271 150 222 810 670 959 |
|
| 6,402 8,083 1,150 1,165 1,348 109 19,370 18,706 - - - - 316 580 300 534 200 - - 78 - 50 - 80 1,263 2,071 - - - 465 - - 131 131 |
|
| 24,078 23,970 |
|
| 30,480 32,053 |
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
NOTES TO THE FINNANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2021
6. GOVERANCE COSTS
| 6. GOVERANCE COSTS | |
|---|---|
| Accountancy fees Legal and professional fees |
2021 2020 £ £ 405 350 240 3,966 |
| 645 4,316 |
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible fixed assets Current assets Current liabilities
8. RESTRICTED FUNDS
Support from province
| Restricted | Unrestricted | 2021 | 2020 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| - | - | - | - | |
| 2021 | ||||
| B/f | Incoming | Outgoing | Total | |
| £ | £ | £ | ||
| - | - | - | - |
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REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
NOTES TO THE FINNANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2021
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Independent Examination | 2021 2020 £ £ 350 350 |
| 350 350 |
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