REGISTERED COMPANY NUMBER: 8583816 (England and Wales) Charity no: 1158775
Report of the Trustees and Financial Statements for the year ended 31 December 2020 For REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Contents of the Financial Statements
for the year ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE Report of the Trustees for the year ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their rep the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the pr of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number :
8583816 (England and Wales)
Registered office:
Unit 3-4 THE PLAZA STEVENAGE ENGLAND SG1 1PF
Trustees/Director:
Biyerem Nnaemeka Eluwa Mr Olukayode Sotannde Olabimpe Kunlipe
Company Secretary
Independent Examiner
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited b guarantee, as defined by the Companies Act 2006.
Organisational structure
The church is organised so that the trustees meet regularly to manage its affairs. There is a volunteer office administrator, who manages the day to day administrations of the church.
Related parties
RCCG City of David Stevenage is a member of Redeemed Christian Church of God (RCCG) which has Parishe world. The relationship is governed by an Agreement for common purposes between the Parishes and RCCG.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropri controls are in place to provide reasonable assurance against fraud and error.
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Report of the Trustees
for the year ended 31 December 2020
FINANCIAL REVIEW
Reserves policy
The net profit for the year amounted to £7,428. All these have been unrestricted reserves and no fund is allocated to restricted project. The trustees have established a policy whereby the unrestricted funds not comm invested in tangible fixed assets, the free reserves, held by the church should be 3 months of annual expenditu At this level, the trustees feel that it would be able to continue the current activities of the church in the event o drop in funding.
Principal funding sources
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid sche Pledges are also taken for specific projects.
FUTURE DEVELOPMENTS
The church will continue to explore various ways of spreading the gospel of Christ in an affective manner. The charity is also looking to grow in membership and continue to develop its members to make life - changing in society, plant more parishes and due to the increase in the number of members, our future plan is to accomm those members and likely additional.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of RCCG - Open Heavens Sanctuary for the purposes of company law for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Un Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and view of the state of affairs of the charitable company and of the incoming resources and application of resource including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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 proper accounting records which disclose with reasonable accuracy a the financial position of the charitable company and to enable them to ensure that the financial statements com the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information includ charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination o financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 to small companies.
ON BEHALF OF THE BOARD:
Date:14th October 2021
Biyerem Nnaemeka Eluwa
Independent Examiner's Report to the Trustees of
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
I report on the accounts for the year ended 31 December 2020 set out on the pages attached. Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the prep the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of th Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of FCCA. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independen examination, it is my responsibility to:
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examine the accounts under Section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. A examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seek explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts p 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
DTT Consultancy Lomited 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
Date: 14th October 2021
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE Statement of Financial Activities
for the year ended 31 December 2020
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Total incoming resources RESOURCES EXPENDED Charitable activities Support Costs Governance costs Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Prior year adjustment Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2020 2019 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 113,205 113,205 155,049 - - - |
|---|---|
| 113,205 - 113,205 155,049 11,000 11,000 11,833 94,777 94,777 134,147 - - - |
|
| 105,777 - 105,777 145,980 |
|
| 7,428 - 7,428 9,070 |
|
| 2,146 - 83,263 83,263 74,194 |
|
| 88,546 - 88,546 83,263 |
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE Balance Sheet
At 31 December 2020
| 2020 2019 Unrestricted Restricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 72,433 72,433 72,433 CURRENT ASSETS Debtors 6 5,370 5,370 5,370 Cash in hand 11,093 11,093 5,811 16,463 - 16,463 11,181 CREDITORS Amounts falling due within one year 7 350 350 350 NET CURRENT ASSETS/(LIABILITIES) 16,113 16,113 10,831 TOTAL ASSETS LESS CURRENT LIABILITIES 88,546 88,546 83,263 CREDITORS Amounts falling due after more than one year 8 - - NET ASSETS 88,546 - 88,546 83,263 FUNDS 9 Unrestricted funds 88,546 88,546 83,263 Brought Forward TOTAL FUNDS 88,546 88,546 83,263 |
2020 2019 Unrestricted Restricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 72,433 72,433 72,433 CURRENT ASSETS Debtors 6 5,370 5,370 5,370 Cash in hand 11,093 11,093 5,811 16,463 - 16,463 11,181 CREDITORS Amounts falling due within one year 7 350 350 350 NET CURRENT ASSETS/(LIABILITIES) 16,113 16,113 10,831 TOTAL ASSETS LESS CURRENT LIABILITIES 88,546 88,546 83,263 CREDITORS Amounts falling due after more than one year 8 - - NET ASSETS 88,546 - 88,546 83,263 FUNDS 9 Unrestricted funds 88,546 88,546 83,263 Brought Forward TOTAL FUNDS 88,546 88,546 83,263 |
2020 2019 Unrestricted Restricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 72,433 72,433 72,433 CURRENT ASSETS Debtors 6 5,370 5,370 5,370 Cash in hand 11,093 11,093 5,811 16,463 - 16,463 11,181 CREDITORS Amounts falling due within one year 7 350 350 350 NET CURRENT ASSETS/(LIABILITIES) 16,113 16,113 10,831 TOTAL ASSETS LESS CURRENT LIABILITIES 88,546 88,546 83,263 CREDITORS Amounts falling due after more than one year 8 - - NET ASSETS 88,546 - 88,546 83,263 FUNDS 9 Unrestricted funds 88,546 88,546 83,263 Brought Forward TOTAL FUNDS 88,546 88,546 83,263 |
|---|---|---|
| 16,463 11,181 350 350 |
||
| 16,113 10,831 88,546 83,263 - |
||
| 88,546 - |
88,546 83,263 |
|
| 88,546 83,263 |
||
| 88,546 83,263 |
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Balance Sheet - continued
for the year ended 31 December 2020
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for th ended 31 December 2020.
The members have not required the charitable company to obtain an audit of its financial statements for the yea 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of th Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable compan at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Ac 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Com Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees on 14th October 2021 and were signed on its
Biyerem Nnaemeka Eluwa
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Notes to the Financial Statements for the year ended 31 December 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | -2% on reducing balance |
|---|---|
| Fixtures and fittings | -25% on reducing balance |
| Motor vehicles | -25% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Bank interest receivable 3. NET INCOMING/(OUTGOING) RESOURCES Net resources are stated after charging/(crediting): |
2020 2019 £ £ |
|---|---|
| 2020 2019 £ £ 113,205 155,049 |
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Notes to the Financial Statements - continued for the year ended 31 December 2020
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020
Trustees' Expenses
There were no trustees' expenses paid neither for the year ended 31st December 2020
5. TANGIBLE FIXED ASSETS
| COST At 1 Jan 2020 Additions Disposals At 31st December 2020 DEPRECIATION At 1 Jan 2020 Charge for year At 31st December 2020 NET BOOK VALUE At 31st December 2019 At 31st December 2020 |
Building Church Motor property Equipment vehicles Totals £ £ £ £ 72,433 2,164 - 74,597 - - - |
|---|---|
| 72,433 2,164 - 74,597 |
|
| 1,082 1,082 1,082 1,082 |
|
| - 2,164 - 2,164 |
|
| 72,433 0 - 72,433 |
|
| 72,433 - - 72,433 |
6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |
|---|---|
| Debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses Loan |
2020 2019 £ £ |
| 2020 2019 £ £ 350 350 - - |
|
| 350 350 |
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Notes to the Financial Statements - continued for the year ended 31 December 2020
8 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 £
Amounts falling due in more than five years:
Repayable otherwise then by instalments: Mortgage
9 MOVEMENT IN FUNDS
Unrestricted funds General fund
Restricted funds Restricted TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds General fund TOTAL FUNDS
| Net | ||
|---|---|---|
| movement in | ||
| At 01/01/20 | funds | At 31/12/2020 |
| £ | £ | £ |
| 83,263 | 6,346 | 88,546 |
| 83,263 | 6,346 | 88,546 |
| Incoming | Resources | Movement in |
| resources | expended | funds |
| £ | £ | £ |
| 112,123 | 105,777 | 6,346 |
| 112,123 | 105,777 | 6,346 |
REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID STEVENAGE
Detailed Statement of Financial Activities for the year ended 31st December 2020
| INCOMING RESOURCES Voluntary income RESOURCES EXPENDED Charitable activities COF Donations & Gifts Evangelism & Outreach Welfare WEM FOL Support Costs Bank Charges Conferences & Conventions Equipment & Instruments Honorarium Hospitality Insurance Vehicle expenses Business Rate Storage Postage,Printing & Stationery Depreciation Repairs and maintenance Rent Cleaning Service Service Charge Annual subscription Staff Allowance Telephone & Internet Training Utilities Accountancy fee Admin/Office Expense Travel and subsistence Protocol Building Material Music Other Governance costs Total resources expended Net income |
2020 2019 £ £ 113,205 167,110 |
|---|---|
| 113,205 167,110 |
|
| 1,100 1,800 500 4,514 2,650 1,500 2,900 1,092 3,300 3,600 550 - |
|
| 11,000 12,506 |
|
| 315 2,291 1,200 1,939 90 4,044 5,820 4,750 1,200 2,837 1,237 1,803 265 1,243 798 480 - 649 1,088 797 1,082 1,082 217 - 30,579 55,275 670 1,232 - 7,787 - 120 24,725 41,857 4,763 5,570 450 880 6,781 7,487 350 350 1,100 159 2,100 6,238 800 1,000 7,256 1,430 1,272 743 619 |
|
| 94,777 152,045 |
|
| - - |
|
| 105,777 164,551 |
|
| 7,428 2,559 |