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2023-08-31-accounts

Charity registration number 1165450

Redeemer Church Colchester Annual Report and Unaudited Financial Statements For the Year Ended 31 August 2023

Redeemer Church Colchester

Legal and Administrative Information

Trustees Joel Davies
Hugh Pearce
Rhian Luard
Calum McDonald ACCA
Charity number 1165450
Church Elders Hugh Pearce
Alastair McDonald
Tom Allen
Rob Clayton
Carl Barker
Registered office The Hope Centre
10 St Margaret’s Street
Ipswich
Suffolk
IP4 2AT
Independent examiner Mrs Carole Cowgill ACA
4 Penny Meadow
Capel St Mary
Ipswich
IP9 2UU
Bankers Charities Aid Foundation (CAF Bank)
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4JQ

Redeemer Church Colchester

Contents

Page
Trustees’ Report 1 - 3
Independent Examiner’s Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 - 10

Redeemer Church Colchester

Trustees’ Report

For the Year Ended 31 August 2023

Structure, governance and management

The Trustees present their report with the financial statements of the charity for the period 1 September 2022 to 31 August 2023.

Redeemer Church Colchester is a Charitable Incorporated Company (CIO), and it is registered as a charity with the Charity Commission.

The Trustees who served during the year and up to the date of signature of the financial statements were:

Joel Davies Hugh Pearce Lisa Barker (resigned 28 November 2023) Rhian Luard (appointed 18 July 2023) Calum McDonald ACCA (appointed 18 September 2023)

The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Purposes, Aims and public benefit

Objectives and activities

The objectives

  1. To advance the Christian faith in Colchester and in such other parts of the United Kingdom or the world as the directors of the charity (herein called 'the Trustees') may from time to time think fit. This will be done for the benefit of the public through the holding of prayer meetings, member gatherings, lectures, public celebration of religious festivals, producing and/or distributing literature on Christianity to enlighten others about the Christian religion, and whatsoever the Trustees decide will advance the faith.

  2. To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind in Colchester and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.

Main activities undertaken for the public benefit

As an outworking of these objectives, Redeemer Church Colchester’s vision is to lead people to discover fullness of life by helping them find and follow Jesus. The Church also aims to be a growing local Church with a global reach, multiplying and strengthening Churches by raising leaders, releasing missionaries and resourcing pioneering.

The Church provides public benefit in many ways, including through the provision of teaching and pastoral support to single people (including university students), married couples and their families, who have a connection with Redeemer Church.

1

Redeemer Church Colchester

Trustees’ Report (continued)

For the Year Ended 31 August 2023

Main activities undertaken for the public benefit (continued)

Other Church activities and programmes comprised;

As a result of these activities, the Church has continued to thrive, with Sunday and midweek attendance growing. As a Church we have been called to be an equipping and sending Church, yet despite many members moving on during the year on missional activities the Church continues to attract new members.

2

Redeemer Church Colchester

Trustees’ Report (continued)

For the Year Ended 31 August 2023

Financial review

It has been a strong year for Redeemer financially with income increasing by 26.3% to £181,341. The total funds carried forward for the reporting period show a 51.5% increase on the funds brought forward, which is in monetary terms a £51,029 increase on funds held at the bank.

The Trustees’ Report was approved by the Board of Trustees.

Rhian Luard Trustee

Date: 9 June 2024

3

Inde endent Examiner's Re ort to the Trustees of Redeemer Church Colchester on the Accounts for the ear ended 31 Au stered Chari No. 1165450 st ust 2023 I report to the trustees on my examination of the accounts of the alx)ve charity for the y¢ar ¢nd¢d 31. August 2023. nsibilities isof As the charity's t￿￿tee5, you are responsible for the preptiration of the accounts in accordance with th¢ requir¢rnents of the Charities Act 2011 (the Charities Act). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Charities ACL an4 in carryin8 Out my ¢￿8M1r￿10￿ I have followed all the applicable Dir¢¢lions given by the Clwity Con]mission under section 145(5Xb) of the Charities Act. aminer, I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination which give me c&use to believe thaL in any mafrrial resprt the accounting records were not kept in XCOrdan￿ with section 130 of the Charities ACL or the accounts did nol accord with the accounting reLx)rd4 or the accounts did not eA>mply with the applicable requirements concerning the form and content of accounts set out in the Charities Acl (Accounts and Reports) Regulations 2(K)8, other than any requirement that the accounts give a and fair" view, vthich 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 lo which attention should b¢ drawn in this report in order to enable a proper understanding of th¢ accounts to be rwhed. 11 iolw Mt3. Carole Cowgill ACA 4 Penny Meadow Capel St. Mary Ipswich IP9 2UU ICAeW CHARTERED ACCOUNTANT

Redeemer Church Colchester

Statement of Financial Activities

For the Year Ended 31 August 2023

Notes
Income and
endowments
from:
Donations,
legacies and
grants
2
Investment
income
3
Total income
Expenditure
on:
Charitable
activities
Total
expenditure
Net incoming
resources
before
transfers
Gross transfers
between funds
Net income for
the year/Net
movement in
funds
Total funds
brought forward
Total funds
carried forward		 As restated
As restated
Unrestricted
funds
2023
£
Restricted
funds
2023
£
Total
2023
£
Unrestricted
funds
2022
£
Restricted
funds
2022
£
Total
2022
£
172,817
8,138
180,955
140,451
3,110
143,561
386
-
386
8
-
8
173,203
8,138
181,341
140,459
3,110
143,569
119,372
10,940
130,312
118,683
1,364
120,047
119,372
10,940
130,312
118,683
1,364
120,047
53,831
(2,802)
51,029
21,776
1,746
23,522
(2,148)
2,148
-
-
-
-
51,683
(654)
51,029
21,776
1,746
23,522
97,385
1,746
99,131
75,609
-
75,609
149,068
1,092
150,160
97,385
1,746
99,131

5

Redeemer Church Colchester

Balance Sheet

As at 31 August 2023

Notes
Fixed assets
Tangible assets
5
Current assets
Debtors
6
Cash at bank and in hand
Creditors: amounts falling
due within one year
7
Net current assets
Net assets
Charity funds
Restricted funds
8
Unrestricted funds
8		 2023
£
3,421
142,560		 2023
£
4,657
145,503		 As restated
2022
£
2,144
96,409		 As restated
2022
£
6,906
92,225
145,981
(478)		 98,553
(6,328)
150,160 99,131
1,092
149,068
150,160		 1,746
97,385
99,131

The financial statements were approved by the Trustees on 9 June 2024.

Calum McDonald ACCA Trustee

6

Redeemer Church Colchester

Notes to the Financial Statements

For the Year Ended 31 August 2023

1 Accounting policies

1.1 Basis of preparation of the accounts

The accounts have been prepared under the historical cost convention, with items recognised at cost or transaction value. They have been prepared in pounds sterling.

The accounts 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), effective 1st January 2019, and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and with the Charities Act 2011.

The charity has taken advantage of the exemption in Financial Reporting Standard 102 Section 1A Small Entities from the requirement to produce a Cash Flow Statement.

The accounts have been prepared using the Accruals method.

The following principal accounting policies have been applied:

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Therefore, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

7

Redeemer Church Colchester

Notes to the Financial Statements (continued)

For the Year Ended 31 August 2023

1 Accounting policies (continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Computer and Audio Visual equipment 25% straight line

Items costing less than £800 are written off in the year of purchase.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the Statement of Financial Activities.

2 Donations, legacies and grants

Donations, legacies and grants comprises donations, including £28,593 (2022 - £23,984) in gift aid and income from meetings and booklets.

3 Investment income

Unrestricted funds Unrestricted funds
2023 2022
£ £
Interest receivable 386 8

8

Redeemer Church Colchester

Notes to the Financial Statements (continued)

For the Year Ended 31 August 2023

4 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
2 3

There were no employees whose annual remuneration was more than £60,000.

5 Tangible fixed assets

Cost
At 1 September 2022
At 31 August 2023
Depreciation
At 1 September 2022
Charge for the year
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022		 Computer and Audio
Visual equipment
£
9,029
9,029
2,123
2,249
4,372
4,657
6,906

9

Redeemer Church Colchester

Notes to the Financial Statements (continued)

For the Year Ended 31 August 2023

6
Debtors
Gift aid debtors
Other debtors and prepayments
7
Creditors: amounts falling due within one year
Relational Mission
Other creditors and accruals		 2023
£
2022
£
1,940
2,144
1,481
-
3,421
2,144
As restated
2023
£
2022
£
-
5,500
478
828
478
6,328

8 Charity funds

Balance brought
forward
Net income in
the year
Transfers
between funds
Balance carried
forward		 As restated
As restated
Unrestricted
funds
2023
£
Restricted
funds
2023
£
Total
2023
£
Unrestricted
funds
2022
£
Restricted
funds
2022
£
Total
2022
£
97,385
1,746
99,131
75,609
-
75,609
53,831
(2,802)
51,029
21,776
1,746
23,522
(2,148)
2,148
-
-
-
-
149,068
1,092
150,160
97,385
1,746
99,131

10