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2021-12-31-accounts

Redeemer Croydon Trust

Report and Accounts Year ended 31 December 2021

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

REDEEMER CROYDON TRUST

CHARITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

Key Staff

Governing Document

Stephen Lock Victoria Paxton Ruth Shin Resigned January 2021 David Fletcher Resigned January 2022 Oksana Price Ramona Ramsahadeo Mark Fossey From 1 September 2021 Will Dobbie Until June 2021 Dustin Tramel Until May 2021 Gina Somerton CIO registered November 2015, amended March 2019 and April 2019

Charity Registration Number

Principal Address

Independent Examiner

Bankers

1164555 Redeemer Croydon Trust School House Selbourne Road Croydon CR0 5JQ Lourens du Plessis ACA CA(SA) Stewardship 1 Lamb's Passage London EC1Y 8AB CAF Bank Ltd The Charity Bank Limited

Contents Page
Charity Information 1
Trustees' Annual Report 2-8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Accounts 12-18
Detailed Statement of Financial Activities with Comparatives 19

Page 1

Trustees' Annual Report for the period
**From ** Period start date To Period end date
01 January 2021 31st December 2021

Section A Reference and administration details

Charity name
Other names charity is known by
Registered charity number (if any)
Charity's principal address
Redeemer Croydon Trust
Redeemer Croydon Trust
1164555
School House
Selborne Road
Croydon
Postcode CR0 5JQ

Names of the charity trustees who manage the charity

1
2
3
4
5
6		 Trustee name Office (if any) Dates acted if not for
whole year		 Name of person (or body)
entitled to appoint trustee (if
any)
Stephen Lock From November 2015.
Victoria Paxton From March 2016.
Ruth Shin March 2017 – Jan 2021
David Fletcher From June 2017 – Jan
2022
Oksana Price From Dec 2020
Ramona
Ramsahadeo		 From Dec 2020

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Will Dobbie (Lead Pastor) until Jun 2021, Mark Fossey (Lead Pastor) from Sep 2021 Dustin Tramel (Families Pastor) until May 2021 Gina Somerton (Operations Director)

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Section B Structure, governance and management

Description of the charity’s trusts

Redeemer is governed by the Redeemer Croydon Trust Constitution. The governing document dates from November 2015. Updates to the constitution were made in April 2019. pril 2019. ril 2019.

Type of governing document governing document dates from November 2015. Updates to the constitution were (eg. trust deed, constitution) made in April 2019. pril 2019. ril 2019. Redeemer Croydon Trust is a Charitable Incorporated Organisation. How the charity is constituted

New charity trustees are appointed by the existing charity trustees. In selecting Trustee selection methods individuals for appointment, the charity trustees must have regard to the skills, (eg. appointed by, elected by) knowledge and experience needed for the effective administration of the CIO. Trustees should also hold to the Trust’s Statement of Beliefs and have lives with evidence of Christian profession.

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

Each person appointed trustee gives signed assent to the Christian faith as defined in the doctrinal basis as a condition precedent to his or her appointment. The constitution provides that new trustees be given a copy of the constitution, as well as the latest CIO Trustees’ Annual Report and statement of accounts. In addition to this, it is standard practice at Redeemer for new trustees to receive a copy of the minutes of the previous trustee meeting.

Redeemer Croydon Trust trustees oversee the Trust and take responsibility for the management of the Trust’s resources. They ensure that the charity is complying with its governing document and the law, that it is accountable and that it is carrying out its purposes for the public benefit. Accountable to the trustees are the elders who are responsible for spiritual aspects such as teaching and for pastoral care. Redeemer Croydon Trust is a membership church and, upon joining, members are provided with an Introduction to Redeemer membership course, which sets out Redeemers’ vision and values and its governance structure. Members’ meetings are held on a termly basis.

Redeemer has been a member of the Evangelical Alliance since 2016 and became a member of the FIEC (Fellowship of Independent Evangelical Churches) in 2020.

The Redeemer Croydon Trust has an established risk register which is reviewed at each trustee meeting.

There are three main risks identified by the trustees:

First, a reduction in giving, should a number of members leave Redeemer at the same time or members fall into financial difficulty. To address this, monthly giving (regular and external) is monitored carefully by the Treasury team, elders and trustees against projected giving. Reserve levels are also maintained in accordance with the reserves policy.

A second risk is key personnel leaving or becoming unwell. To mitigate against this, the trustees have discussed an emergency plan should either the Lead Pastor or Operations Director be out of action. In the case of the Lead Pastor, this would involve the Associate Pastor acting as Lead Pastor and the eldership and small group leaders taking responsibility for the care of church members. In the case of the Operations Director, the trustees have familiarised themselves with the key operational and financial documentation, and all staff have had access arranged to Redeemer’s administrative platform Churchsuite. In the circumstances where both the Lead Pastor and (if there is someone in post) the Assistant Pastor would be out of action, the eldership would jointly step into the role of the Lead Pastor with Operations Director’s assistance on operational matters and Trustees’ assistance where required until such time as the Lead Pastor is able to resume their position or a new Lead Pastor is appointed. Should the Assistant Pastor resume their position before the Lead Pastor’s

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return/appointment, the Assistant Pastor would act as Lead Pastor and the eldership and small group leaders taking responsibility for the care of church members

A third risk is security of the venue given that Redeemer does not have its own building in which to meet. In order to address this, the staff team work hard to build relationships and regular communication with those responsible for the venues. This ensures that any issues can be identified and addressed early on. Furthermore, rent hikes are taken into consideration in the budget and there is a contingency line for this. Redeemer has a list of alternative venues available which it can contact should Archbishop Tenison’s no longer be a suitable location. COVID: Regular reviews were made of the risks related to the pandemic, which were actively monitored for financial and operational impact. The congregation was reduced, as a result of people moving away from London as a result, which in turn reduced their associated donations. Nonetheless Redeemer Croydon Trust remained a going concern and since then Sunday attendance has been rising again. We did feel it necessary to furlough any staff, as their roles were needed throughout.

Section C Objectives and activities

Summary of the objects of the
charity set out in its governing
document
Summary of the main activities
undertaken for the public benefit
in relation to these objects
(include within this section the
statutory declaration that
trustees have had regard to the
guidance issued by the Charity
Commission on public benefit)		 The object of RCT is supporting Redeemer Croydon Church for the public
benefit and the advancement of the Christian faith in Croydon, and such other
parts of the United Kingdom and the world as the charity trustees may from time
to time decide.
Advancement of the faith for the public benefit and the advancement of the
Christian faith in Croydon:
All these are open to the whole local Croydon community and many are
attended online by those in the UK and further afield.
Redeemer has a number of Sunday ministries such as the Sunday morning
meeting including children’s groups from age 0-teen, and monthly evening
prayer meetings.
It also has several weekday ministries, notably:
•
Men’s and women’s ministries, such as teaching, training and social
activities.
•
‘Growth Groups’ who meet together on a weekly basis to study the Bible.
•
Outreach to the local community through street conversations
Other events include termly membership meetings, membership courses for new
members, prayer triplets, a women's book group, a 20s/30s group, youth group
social events, and an annual retreat (last held in Oct 2021) with an external
guest speaker from FIEC.
We held widely attended Easter & Christmas carol services, including a
children’s choir.
Teaching and training are provided by the church in a number of ways. This
includes:
•The children’s ministry on a Sunday morning at Redeemer, teaching
young people about the Bible
•Pastoral work of the staff team (Lead Pastor, Associate Pastor &
Missionary Pastor) in supporting members of Redeemer, in person
where possible, online and via many forms of communication.
•Teaching and training through the 20s/30s and women’s ministries.
•Support provided to the volunteers who lead ‘Growth Groups’, both in
the form of training and materials.
•Safeguarding and COVID-security training for those working with teams,
children and vulnerable adults.
•Sharing of materials from training organisations such Cornhill, The
Proclamation Trust and FIEC.

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In Sep 2021, we hired a new Lead Pastor with considerable experience in preaching, teaching and pastoral care. We additionally welcomed a volunteer Missionary Pastor who is a part of the preaching team, as well as teaching and training on theological matters.

The website and YouTube channel continue to be updated in order to reach out to the local community and to be a resource for Christian material and Biblical teaching.

Additional pastoral support is provided for members of the congregation suffering mental illness or significant socio-economic issues. Volunteers also organise meal rotas and housework rotas for those in need for support.

Advancement of the Christian faith in the United Kingdom and the world:

Redeemer supports a ministry school in the Gambia via a UK charitable organisation Living Word Ministries (and pre-covid ran annual overseas missionary trips which are expected to resume). The church also has an inhouse missionary from a UK organisation, London City Mission, who does outreach in the local schools, as well as a newly-appointed Missionary Pastor.

Redeemer’s social media and newly created during 2020 YouTube channel is widely accessed by the congregation, local community, in the UK and overseas. Our online services during 2020 & 2021 saw a number of people join us live from across the UK and overseas. Many of these non-local visitors have continued to use our digital resources as COVID restrictions have eased. Our social media, which exists for public benefit, has seen increased interaction and we now have over 1000 followers on Instagram.

In planning activities for the year, trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

Over 2021, there is a strong contribution from 79 volunteers at Redeemer Croydon. In the reporting period, there were members, many of whom served on teams including:

Welcome Team Set Up Team Music and Sound Teams Recording Team Refreshments Team Small Group (‘Growth Group’) Leaders

Section D Achievements and performance

Supporting the work of Redeemer Croydon

Redeemer Croydon Trust looks to ensure that there are a variety of opportunities for community members to meet together and participate in church life. This provision is tailored to meet the needs of a diverse congregation of different ages, cultures and educational backgrounds.

We continue to meet at a local secondary school, Archbishop Tenison’s Church of England School and have built good links with them. We had to move our Sunday meetings to an afternoon slot and continued to conform to all COVID regulations as required during 2021, including following risk assessments for COVID-secure church services, including an online booking system to ensure

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Section D Achievements and performance

social distancing when it was needed, and track & trace requirements were maintained as required.

We were able to resume Sunday School for children from June 2021, and kept an all-age service in the monthly church calendar to be more inclusive of families with younger children in the church and the wider community. A number of families that had joined have slightly older children and we were able to launch a new bimonthly Youth Group for Year 7+ to help them navigate the challenges of their age group as well as provide bespoke teaching.

Aside from the regular Sunday meetings, growth groups meet weekly, on a monthly basis prayer meetings are held to provide adult members of the church an opportunity for quiet contemplation and prayer. Termly events for women and young adults (20s/30s) continue to take place, reaching out to equip them in their daily lives, to provide a support network and an opportunity to make friends in the area. Missionary support Redeemer supports a ministry school in the Gambia and, following a successful visit in 2018 & 2019, Redeemer arranged a further trip in 2020. Regular updates are shared with the congregation on Sundays and at monthly prayer meetings. We increased links with London City Mission by welcoming a new mission link who partners with local Croydon schools to support them in their pastoral work internally. She provides the congregation with updates periodically. Relief for those suffering hardship and physical distress Pastoral and financial support was given to those in a position of disadvantage and hardship, including church attendees suffering with addiction and serious family social issues. Redeemer continues to care particularly for members in need of regular pastoral care. Pastoral staff provide support for those suffering social issues, illness and bereavement, as well as larger life events where help is needed practically, emotionally or financially. Operations 2021 continued with the structures put in place in 2020 to allow for a widerreaching hybrid in-person and digital operation of the church to reach the community better. This served to help those self-isolating or to help newcomers get a better feel for the church’s services and other community activities before joining in person. Safeguarding training was provided for all staff and members of children’s teams or other key positions in Nov 2021. Volunteer DBS, training and self-declaration processes were tightened to ensure improved record-keeping. With the continued aid of our CRM system, we keep track of church congregants and members to better enable pastoral and general support, which was widely utilised during the pandemic and beyond.

Section E Financial review

The Redeemer policy on Reserves states that Redeemer must maintain a Brief statement of the charity’s balance which equates to at least three months unrestricted payments. policy on reserves Reserves are held to ensure availability of an internal source of funds to cover situations such as: • An unanticipated loss or reduction in regular income. • Significant cash flow fluctuations. • A sudden increase in expenditure. • One-off unbudgeted expenses.

The aim is to ensure stability in the operation of Redeemer Croydon, particularly

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in respect of the employment of staff engaged to advance the objects of the Trust.

The Operating Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget gap. Rather they are there to provide time, where necessary, for action to be taken to obtain additional funding and/or reduce further expenditure and revise assumptions in line with affordability. It is the intention of the Redeemer Croydon Trustees that any Reserves utilised should be replenished within a reasonably short period of time.

Details of any funds materially in deficit

N/A

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

The primary source of giving is voluntary donations from the membership (with recovery of associated Gift Aid). A secondary source is external giving.

The accounts cover all the church's activities including, but not limited to, Sunday worship services, staff financial packages, all events and premises rental, charitable donations to mission partners, congregational and external income from giving.

During 2021, total income was £230,000 (2020: £295,000) and total Expenditure £182,000 (2020: £229,000), producing an increase in funds of £48,000 to £285,000 (2020: £66,000 increase).

RCT had 3 employees and 2 volunteer staff member during this period. No amounts were paid to Trustees or to any person connected to them.

Section F Other optional information

Over 2021 updates were made to: HR Policy for Employees and Volunteer Staff, COVID risk assessments Other current policies in place include: Safeguarding Policy, Emergency Procedures on Sundays, Gift Policy, Staff Record Keeping & Monitoring, Financial Controls and Reserves Policy, Health & Safety Policy, Lone Worker Policy, Staff Expenses Policy, Data Protection Policy (GDPR)

At present finances and regular giving look sustainable and Redeemer is a ‘Going concern’, but the trustees will continue to monitor this carefully on a monthly basis. Costs have been prioritised and spending freezes implemented across many areas. Funds will be used to relieve financial hardship as appropriate in keeping with the charity’s objectives. The trustees are of the view that the charity can continue to meet its objectives while following virus control measures, particularly by focussing on its online presence and careful planning as lockdown restrictions ease.

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Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Victoria Paxton Full name(s) Victoria Paxton Position (eg Secretary, Chair, etc) Trustee Date 9 October 2022

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INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

REDEEMER CROYDON TRUST ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2021 on pages 10 to 19 following, which have been prepared on the basis of the accounting policies set out on pages 12 to 13.

Responsibilities and basis of report

As the charity’s trustees of the Charitable Incorporated Organisation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Lourens du Plessis

Lourens du Plessis ACA CA(SA) Member of the Institute of Chartered Accountants in England & Wales

Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 10 October 2022

Page 9

REDEEMER CROYDON TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 Unrestricted
Funds
£
227,709
1,052
1,505
230,266
182,391
182,391
47,875
-
47,875
219,429
267,304		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
17,873
17,873		 Total
Funds
2021
£
227,709
1,052
1,505
230,266
182,391
182,391
47,875
-
47,875
237,302
285,177		 Total
Funds
2020
£
291,757
2,924
530
295,211
229,294
229,294
65,917
-
65,917
171,385
237,302

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 12-18 form part of these accounts.

Page 10

REDEEMER CROYDON TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2021

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
10
CREDITORS: Amounts falling
due within one year
11
Net current assets / (liabilities)
Total assets less current liabilities
TOTAL NET ASSETS
FUND BALANCES
13
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
-
-
26,843
247,969
274,812
(7,508)
267,304
267,304
267,304
267,304
-
267,304
-
267,304		 Restricted
Funds
£
-
-
-
17,873
17,873
-
17,873
17,873
17,873
-
-
-
17,873
17,873		 Total
Funds
2021
£
-
-
26,843
265,842
292,685
(7,508)
285,177
285,177
285,177
267,304
-
267,304
17,873
285,177		 Total
Funds
2020
£
833
833
60,629
182,902
243,531
(7,062)
236,469
237,302
237,302
219,429
-
219,429
17,873
237,302

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

Victoria Paxton _________ Victoria Paxton Date: 9 October 2022 Charity number: 1164555

The notes on page 12-18 form part of these accounts.

Page 11

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Statutory Information

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The previous year's accounts were prepared using the receipts and payments basis but, this year, the charity was obliged to prepare its accounts using the accruals basis. The results for 2019, which are comparatives quoted in these accounts, have been restated using the accruals basis (see note 16 for details).

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. In making this assessment the trustees have considered how Covid-19 might affect projections.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

Investment income represents income generated by the charity's assets and includes income from bank interest.

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Page 12

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

f) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

j) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

k) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

l) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

n) Exemption from preparing a cashflow statement The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

o) Critical accounting estimates and areas of judgement

[The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.]

3 Donations

ations
Donations of cash and similar
Donations in kind (note 3a)
Income tax recoverable		 2021
£
192,966
-
34,743
227,709		 2020
£
257,511
1,250
32,997
291,757

Page 13

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

a
Donations in kind comprise:
Goods donated for:
Use by the charity
4
Income from charitable activities
Church retreats and events
Other income
5
Investment income
Bank interest
6
Charitable expenditure
a
Costs incurred directly on specific activities
Employment costs (Note 7)
Venue and office hire
Ministry and staff costs and training
Church events and weekends away
Youth and children's work
Grants payable (note 6c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other governance, subscriptions and professional fees
Administration and support services
Website and publicity
Other costs
Depreciation of tangible fixed assets
Insurance
Total expenditure
Donated goods comprise a baby grand piano donated for use by the church.		 2021
£
-
-
2021
£
875
177
1,052
2021
£
1,505
1,505
2021
£
135,105
23,899
5,082
1,215
635		 2020
£
1,250
1,250
2020
£
2,796
128
2,924
2020
£
530
530
2020
£
192,825
13,432
3,328
666
547
165,936
2,230
168,166
2,700
8,746
269
1,136
697
417
261
14,225
182,391		 210,799
6,227
217,026
2,880
6,792
576
818
525
417
261
12,268
229,294

The fee payable to the independent examiner for preparing and examining the accounts was £2,700 (2020: £2,880); in addition the charity paid £749 (2020: £739) to Stewardship for payroll bureau services.

c Grants payable

Grants payable
Grants for UK and overseas mission
Grants for the relief of poverty		 Institutions
£
1,980
-
1,980		 Individuals
£
-
250
250		 2021
£
1,980
250
2,230

Page 14

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

The comparatives for the previous year are as follows:

The comparatives for the previous year are as follows:
Grants for UK and overseas mission
The charity's principal grants to institutions comprised:
Living World International (for Servants of the Word, Gambia)
Crosslinks
London City Mission
Grants to institutions for less than £1,000 each		 Institutions
£
6,227
6,227		 Individuals
£
-
-
2021
£
1,980
-
-
-
1,980		 2020
£
6,227
6,227
2020
£
-
1,635
1,400
3,192
6,227

7 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

The average monthly number of employees during the year was 4 (2020: 5). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:

During the year key management received employment benefits totalling £69,371 (2020: £134,375).

In addition the charity incurred expenditure totalling £32,405 (2020: £55,741) in respect of the customary provision of accommodation to two members of key management, so that they could better perform their duties.

No trustees received employment benefits in either the current or preceding year.

8 Tangible fixed assets

Cost
At 1 January 2021
Additions
Gains / (losses) on revaluation
Disposals
At 31 December 2021
Accumulated depreciation
At 1 January 2021
Charge for the year
Eliminated on disposal
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2019		 Fixtures,
fittings and
equipment
£
6,250
-
-
(1,250)
5,000
5,417
417
(834)
5,000
-
833		 Total
2021
£
6,250
-
-
(1,250)
5,000
5,417
417
(834)
5,000
-
833

Page 15

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

9 Debtors

9
Debtors
Falling due within one year:
Tax recoverable
Prepayments and accrued income
Rental deposits (held with DPS)
Total debtors
10
Cash at Bank and in Hand
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash
11
Creditors: liabilities falling due within one year
Taxation and social security
Other creditors
Accruals		 2021
£
26,378
465
-
26,843
26,843
2021
£
94,603
171,227
13
265,843
2021
£
1,081
178
6,249
7,508		 2020
£
52,779
465
7,385
60,629
60,629
2020
£
57,292
125,597
13
182,902
2020
£
757
178
6,127
7,062

12 Pension commitments

During the year employer’s pension contributions totalling £7,936 (2020: £8,907) were payable to defined contribution personal pension schemes. Pension contributions of £1,018 were owing at the balance sheet date (2020: £757).

13 Funds

During the year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Mission trip
Property fund
Re:Define
Aggregate of funds		 Opening
balance
2021
£
219,429
219,429
1,252
16,598
23
17,873
237,302		 Incoming
resources
2021
£
230,266
230,266
-
-
-
230,266		 Outgoing
resources
2021
£
(182,391)
(182,391)
-
-
-
(182,391)		 Transfers
in the year
2021
£
-
-
-
-
-
-
-		 Gains and
losses
2021
£
-
-
-
-
-
-
-		 Closing
balance
2021
£
267,304
267,304
1,252
16,598
23
17,873
285,177

Page 16

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

ysis of net assets by fund
assets and liabilities of the various funds were as follows:
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
-
-
26,843
-
247,969
-
(7,508)
-
267,304
-
Unrestricted Funds		 Restricted
funds
£
-
-
17,873
-
17,873		 2021
£
-
26,843
265,842
(7,508)
285,177

In the previous year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Mission trip
Property fund
Re:Define
Aggregate of funds		 Opening
balance
2020
£
153,635
153,635
1,152
16,598
-
17,750
171,386		 Incoming
resources
2020
£
292,552
292,552
2,636
-
23
2,659
295,210		 Outgoing
resources
2020
£
(226,758)
(226,758)
(2,536)
-
-
(2,536)
(229,294)		 Transfers
in the year
2020
£
-
-
-
-
-
-
-		 Gains and
losses
2020
£
-
-
-
-
-
-
-		 Closing
balance
2020
£
219,429
219,429
1,252
16,598
23
17,873
237,302

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
833
-
60,629
-
165,030
-
(7,062)
-
219,429
-
Unrestricted Funds		 Restricted
funds
£
-
-
17,873
-
17,873		 2020
£
833
60,629
182,902
(7,062)
237,302

The Mission trip relates to funds raised for a trip to Gambia.

The property fund relates to funds donated towards the purchase of a church manse. The Weekend away bursary relates to funds raised and paid out for church away events. The Re:Define fund relates to the 20s & 30s ministry.

Page 17

REDEEMER CROYDON TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

14 Transactions with related parties

Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.

Page 18

REDEEMER CROYDON TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Total Expenditure
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 General
Designated
2021
2021
£
£
227,709
-
1,052
-
1,505
-
230,266
-
182,391
-
182,391
-
47,875
-
-
-
47,875
-
219,429
-
267,304
-
Unrestricted funds		 Restricted
2021
£
-
-
-
-
-
-
-
-
-
17,873
17,873		 Total
2021
£
227,709
1,052
1,505
230,266
182,391
182,391
47,875
-
47,875
237,302
285,177		 General
Designated
2020
2020
£
£
289,856
-
2,166
-
530
-
292,552
-
226,758
-
226,758
-
65,794
-
-
-
65,794
-
153,635
-
219,429
-
Unrestricted funds		 Restricted
2020
£
1,901
758
-
2,659
2,536
2,536
123
-
123
17,750
17,873		 Total
2020
£
291,757
2,924
530
295,211
229,294
229,294
65,917
-
65,917
171,386
237,302

Page 19