REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
Company reg. no 08768971 Charity reg. no.1158718
DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022 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
Page 3
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT FOR YEAR ENDED 31 DECEMBER 2022
The directors and trustees present their report and the accounts for the year ended 31st December 2022
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.
Page 4
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2022
Governing document continued…..
No director has any beneficial interest in the charitable company. The number of guarantees at 31 December 2022 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 2022 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.
Page 5
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2022
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.
Page 6
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2022
ACTIVITIES FOR PUBLIC BENEFIT:
Achievements and Performances: The Trustees are pleased to report the following activities have been carried out in 2022 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.
ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees of New Life Assembly Borehamwood are pleased to report the following activities amongst others were carried out in 2022, which assisted the charity to connect, engage better and serve our community especially coming out of the Covid 19 Pandemic, whilst also seeking ways to remain relevant to the people within and around the community we serve.
Mother’s Day Celebrations Sunday Service - March 2022: On the 27th of March the church organised a special service in honour of all mothers and mothers to be . Special prayers were offered and the children’s church presented a short clip to honour Mothers. Event was open to public and gift items given to every mother.
Global Outreach Day – May 2022: The Charity was part of the annual evangelical outreach event. We joined millions across the world virtually and physically in reaching out and sharing the message of the good news.
Queen’s 70th platinum Jubilee special Sunday celebration service- June 2022: This was celebrated by the church on the 5th of June with special prayers for the Queen, family and nation, open to public with lunch at the park .
Father’s Day Celebrations Sunday Service- June 2022: In honour of All fathers and fathers to be the church organised a special service event open to All with special prayers and gifts presented to the men.
Annual special children’s Anointing & thanksgiving service: A special thanksgiving service and prayers was held for children within and outside the church . Refreshments was served
Hertsmere Civic Service: We joined other faith groups and dignitaries within the community at the civic service on 9/10/23 with the Mayor of Hertsmere.
Interfaith Week Nov 2022: As part of the interfaith week, we joined other faith groups and other stakeholders within the community at an update meeting to celebrate the services of our local food bank .
Samaritan’s Purse (Operation Christmas Child) -Nov 2022: As part of our annual event and with support of members, their families and friends we made a donation of 40 packed Christmas shoeboxes with additional cheque of £200(two hundred pounds) bringing smiles, hope and joy of Christmas to children across the nations of the world.
Christmas Gift items : Gift items were provided to every child and household to celebrate the festive season.
We also remain active members of the Hertsmere Forum of Faith,and the Elstree and Borehamwood Christian Council ( EBCC). In addition engaging actively with others churches and faith groups within and outside Elstree and Borehamwood and also up to date with our financial obligations.
Approved by the Directors on 12th Sept 2023 and signed on their behalf by:
Mr Lucky Albert. Director/Trustee �
Page 7
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2022
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| Funds | Funds | Funds | Funds | ||||
| Notes | £ | £ | £ | £ | |||
| INCOMING RESOURCES | |||||||
| Donations | 2 | 36,793 | - | 36,793 | 28,250 | ||
| - | - | ||||||
| Gift aid | - | - | - | 6,500 | |||
| Total incoming resources | 36,793 | - | 36,793 | 34,750 | |||
| RESOURCES EXPENDED | |||||||
| Cost of generating funds | 4 | 26,343 | 26,343 | 24,078 | |||
| Costs of activities in furtherance of charities objects | 12,377 | 12,377 | 6,402 | ||||
| Management and governance costs | 530 | 530 | 645 | ||||
| Total resources expended | 39,250 | - | 39,250 | 31,125 | |||
| - | - | ||||||
| Net (Outgoing)/Income resources for year | - | 2,457 |
- | 2,457 |
3,625 | ||
| - | - | ||||||
| Balance b/fwd | 145,354 | 145,354 | 141,729 | ||||
| Prior Year Adjustment | |||||||
| BALANCE AT END OF YEAR | 142,897 | - | 142,897 | 145,354 |
The statement of financial activities includes all surpluses and deficits recognised in the year.
All incoming resources and resources expended derive from continuing activities.
Page 8
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD Balance Sheet
At 31 DECEMBER 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Total | Total | ||
| Funds | Funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | |||
| CURRENT ASSETS | |||
| Debtors: amounts falling due after more than one year | 6,500 | 6,500 | |
| Cash in hand | 137,097 | 139,204 | |
| 143,597 | 145,704 | ||
| LIABILITIES | |||
| Accrual | 12 | 700 | 350 |
| 700 | 350 | ||
| NET ASSETS | 142,897 | 145,354 | |
| CHARITY FUNDS | |||
| General - unrestricted | 1d | 142,897 | 145,354 |
| General - restricted | 1e | ||
| TOTAL FUNDS | 142,897 | 145,354 |
For the year ending 31 December 2022 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 12 th Sept 2023 and signed on their behalf by:
Mr Lucky Albert - Director/Trustee
Page 9
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
Notes to the Financial Statements FOR YEAR ENDED 31 DECEMBER 2022
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 |
2022 2021 £ £ 36,793 28,250 - 6,500 |
|---|---|
| 36,793 34,750 |
|
| 2022 2021 £ £ |
|
| - - |
Page 10
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
Detailed Statement of Financial Activities FOR YEAR ENDED 31 DECEMBER 2022
| 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 Training Multimedia HMRC Sunday Service Bank charges Other Total resources expended c/fwd |
2022 2021 £ £ 36,793 28,250 - 6,500 |
|---|---|
| 36,793 34,750 |
|
| 5,581 3,789 1,961 1,200 - 250 2,559 271 1,051 222 1,227 670 |
|
| 12,377 6,402 1,135 1,150 744 1,348 20,417 19,370 394 - 11 - 599 316 850 300 146 200 145 - 144 - 1,030 1,263 578 - 151 - . 131 |
|
| 26,343 24,078 |
|
| 38,721 30,480 |
Page 11
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
NOTES TO THE FINNANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022
6. GOVERANCE COSTS
| 6. GOVERANCE COSTS | |
|---|---|
| Accountancy fees Independent Examination Legal and professional fees |
2022 2021 £ £ - 55 350 350 180 240 |
| 530 645 |
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible fixed assets Current assets Current liabilities
8. RESTRICTED FUNDS
Support from province
| Restricted | Unrestricted | 2022 | 2021 |
|---|---|---|---|
| £ | £ | £ | £ |
| - | - | - | - |
| B/f | Incoming | Outgoing | Outgoing |
| £ | £ | £ | |
| - | - | - | - |
Page 12
REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD
NOTES TO THE FINNANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2022
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Independent Examination | 2022 2021 £ £ 700 350 |
| 700 350 |
Page 13