Registered Charity No 1177437
RENAISSANCE Church
UNAUDITED FINANCIAL STATEMENTS For the period ended 31 March 2021
(A Charitable Incorporated Organisation)
A Charitable Incorporated Organisation Renaissance Church Financial Statements for the period to 31 March 2021 Contents
Page
Contents
| Page 1 | Charity Information |
|---|---|
| Page 2/3 | Trustees' Report |
| Page 4 | Independent Examiners Report |
| Page 5 | Statement of Financial Activities |
| Page 6 | Balance Sheet |
| Page 7 | Notes to the Financial Statements - Accounting Policies |
| Page 8 | Notes to the Financial Statements (Continued) |
| Page 9 | Notes to the Financial Statements (Continued) |
Renaissance Church Financial Statements for the period to 31 March 2021 Company Information
| Trustees | John Fahy | Chairman |
|---|---|---|
| Chris Nwabuikwu | ||
| Remi Anekwe | ||
| Pearl Anekwe | ||
| Vivian Oliver | ||
| Christopher Gilzeane | ||
| Diane Gilzeane | ||
| Michael Bloomfield | ||
| Address | Renaissance Church | |
| PO Box 8147 | ||
| Nottingham | ||
| NG9 3WP | ||
| Independent Examiner | A Pearson FCMA | |
| Exec Practice | ||
| 87 Main Street | ||
| Newtown Linford | ||
| Leicestershire | ||
| LE6 0AF |
Renaissance Church Financial Statements for the period to 31 March 2021 Trustees' Report (1)
The Trustees have pleasure in presenting their report and financial statements for the period ended 31 March 2021.
Constitution
Renaissance Church is a Charitable Incorporated Organisation, governed by the Charity Commission Model Constitution whose only voting members are its Charity Trustees.
Objectives & Policies of the Charity
(A) TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE STATEMENT OF FAITH OF THE ASSEMBLIES OF GOD IN SUCH WAYS AND IN SUCH PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES FROM TIME TO TIME MAY THINK FIT.
Trustees
Trustees of the charity are as follows
John Fahy Chairman Chris Nwabuikwu Remi Anekwe Pearl Anekwe Vivian Oliver Michael Bloomfield
Subject to appointments at the Annual General Meeting the Trustees shall appoint members and committees to control of the affairs of the charity and may delegate any part of its duties to such committees. Without prejudice to the generality of the foregoing, the Trustees powers shall include the appointment, control and dismissal of all members and staff.
Financial Review
The charity reported an excess of income over expenditure of £13,466 (2020 £13,168) for the period.
The Trustees are satisfied that the charity has adequate resources to continue operating as a 'Going Concern' for the foreseeable future.
Public Benefit
The Trustees have considered the charity Commission guidance on Public benefit and consider the activities of the charity meet its charitable objectives and provide benefit to the public
Charitable Activities
OVERVIEW
• The Theme for the year was from Isaiah 40:18-19, that God is doing a new thing. #Heisdoinganewthing! #Anewleveloffaith! #Notbusinessasusual!
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Covid-19 pandemic.
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National lockdowns throughout the year with various degrees of restrictions/easing but not allowing return to normal physical meetings.
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Church in the Park 6th September.
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Online delivery of Church.
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Reliance on internal structures to maintain Church; Communications and Connectivity. .
REVIEW
Little did we and everyone else, realise how true the theme for the year would prove to be in 2020 – a year of unprecedented global events at all levels due to the Covid-19 pandemic. This review is in light of the challenges faced, actions taken and opportunities this has presented.
The main challenge was maintaining a sense of Church and cohesion during this time. More specifically, the challenges were around: communication, connection and commitment. This is in context that the Church is still young and facing the normal challenges of establishing a newly pioneered Church, with people coming and some people going. That coupled with the challenges of a global pandemic, meant that 2020 proved to bring a unique set of challenges to the Church.
Page 1
Renaissance Church Financial Statements for the period to 31 March 2021 Trustees' Report (2)
Weekly Sunday online broadcasts, for Main Church and Children’s Church. These have been well received overall, from initial high levels of engagement, dropping during the times of easing of restrictions before finding an even keel.
Home Groups, were set up to meet every 2 weeks by Zoom, members keeping in touch by Whatsapp. The groups were restructured in March just before lockdown, so it made cohesion and developing new relationships with people in different groups more challenging than otherwise if people had met face to face. As a result, the homegroups later merged into one Church Family meeting
Weekly Friday prayer meetings by Zoom. These have worked well and continue to gather momentum.
Zoom/Connect Lounge meetings after the Sunday broadcast to help maintain connectedness.
Whilst we entered the pandemic with the momentum that often comes with new things, it was apparent later in the year that we needed to think through how we recovered and maintained the original momentum.
The merging of the Homegroups and Zoom/Connect Lounge came out of this review. We recognised that though we were having Sunday broadcasts, which we considered/called “Church” we were not “meeting” per se with one another to interact and have fellowship.
The key areas where we maintain a watch are pastorally and financially, the latter which has been down on the previous year.
We concluded the year with a Cross over meeting in faith and excitement for what God will do in 2021.
Reserves Policy
The Reserve Policy agreed by the Committee is to maintain so far as possible 3 months Unrestricted Funds in the form of bank deposits.
Statement of Trustees Responsibilities
The Trustees are required as a charity and under the Companies Act 2006 and Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the affairs of the company and disclose the net income or expenditure of the charity for that period and 1st November 2021
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select suitable accounting policies and apply them consistently
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make reasonable and prudent judgements and estimates
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
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observe the methods and principles in the Charities SORP
The Trustees are also responsible for:
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keeping proper accounting records
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safeguarding the charity's' assets
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taking reasonable steps for the prevention of fraud
Approved by the Trustees on ………………………………… And signed on its behalf by: 1st November 2021
John Fahy Trustee (Chair)
Remi Anekwe Trustee
Page 2
Renaissance Church Financial Statements for the period to 31 March 2021 Independent Examiners Report
Independent Examiners Report to the Trustees
I report on the accounts of the charity for the period ended 31 March 2021 which which are set out on pages 5 to 8
Respective responsibilities of Trustees and Examiner
The trustees' (who are also directors of the company for company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the 2011 Act) and that an independent examination is needed. I am qualified to undertake the independent examination, by being a qualified member of CIMA.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention
Basis of Independent Examination
My examination was carried out in accordance with the directions given by the Charity Commissioners. An examination includes review of accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of the any unusual items or disclosures in the accounts and seeking explanations from Director Trustees on any such matters. The procedures undertaken do not provide all the evidence that would be required for an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below
Independent Examiners Statement
In connection with my examination, no matter has come to my attention
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1 which gives me reasonable cause to believe that in any material respect the requirements
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a to keep accounting records in accordance with s386 of the Companies Act 2006, and
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b to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006, and with the method and principles of the Statement of Recommended Practice : Accounting and Reporting by Charities have not been met, or
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2 to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
Mr A Pearson FCMA
Exec Practice Ltd 87 Main Street Newtown Linford Leicestershire LE6 0AF Date: 12 August 2021
Page 4
Renaissance Church Financial Statements for the period to 31 March 2021 Statement of Financial Activities
| Note Incoming Resources Donations Gifts & Offerings 2 Gift Aid Investment Income Total Income Resources expended Raising Funds Room & Venue Hire Online Costs Activities Charitable Activities Ministry Resources Contract Services Donations Refreshments Computer & IT Insurances Legal & Professional Equipment Travel & Accomodation Office Expenses & Admin Other Costs Independent Examination Total Expenditure Net Income/(Expenditure) for the Year Net movements for the year Accumulated Reserves b/f Total Reserves |
£ £ £ £ Unrestricted Restricted Total Total Funds Funds 2021 2020 |
|---|---|
| 44,736 44,736 68,771 - - - - 14 - 14 47 |
|
| 44,750 - 44,750 68,818 |
|
| 692 - 692 28,371 10,180 10,180 - - - - - |
|
| 10,872 - 10,872 28,371 465 - 465 7,511 12,000 12,000 - 930 930 1,670 105 - 105 772 878 878 2,936 394 394 384 430 430 - 1,012 - 1,012 6,529 38 38 493 3,370 - 3,370 6,044 |
|
| 19,622 - 19,622 26,339 790 - 790 940 |
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| 31,284 - 31,284 55,650 |
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| 13,466 - 13,466 13,168 |
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| 13,466 - 13,466 13,168 35,241 10,000 45,241 32,073 |
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| 48,707 10,000 58,707 45,241 |
Page 5
Renaissance Church Financial Statements for the period to 31 March 2021 Balance Sheet
| Note Assets Fixed Assets 3 Current Assets Stock 4 Debtors & Prepayments Cash at Bank and in hand Less Current Liabilities Creditors less than one year 5 Net Current Assets Creditors more than one year Net Assets Reserves Designated Funds Unrestricted funds Restricted funds 6 Total Reserves |
£ £ £ Unrestricted Restricted Total Total Funds Funds 2021 2020 |
|---|---|
| - - - - |
|
| - - - - - - - 48,707 10,000 58,707 45,591 |
|
| 48,707 10,000 58,707 45,591 - - - (350) |
|
| 48,707 10,000 58,707 45,241 |
|
| - - - |
|
| 48,707 10,000 58,707 45,241 |
|
| - - - - 48,707 - 48,707 35,241 - 10,000 10,000 10,000 |
|
| 48,707 10,000 58,707 45,241 |
1st November 2021 Approved by the Trustees on ………………………And signed on its behalf by:
| John Fahy | Chairman |
|---|---|
| Vivian Oliver | Secretary |
Page 6
Renaissance Church Financial Statements for the period to 31 March 2021 Notes to the Financial Statements
1 Accounting Policies 1.1a Basis of preparation
The charity is a 'Charitable Incorporated Organisation'. The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)).
1.1b Preparation of the accounts on a going concern basis
The Charity reported a surplus of £13,465 (2020 £13,168) for the period ended 31 March 2021. The trustees are of the view, that given the Charity's reserve position, and outlook of support for the next 12 months, that the charity is a going concern.
1.2 Resources Expended
Expenditure is accounted for on an accrual basis.
1.3 Donations and Voluntary Income
Donations and Voluntary Income are accounted for when received.
1.4 Grants Receivable
Grants for immediate expenditure are accounted for when they become receivable.
Grants received for specific purposes are treated as restricted funds.
1.5 Allocation of Costs
Costs are shown and allocated between Cost of Generating Funds, Charitable Activities and Governance costs, in accordance with the Chariry SORP. Where items involve more than one category they are apportioned between categories according to the nature of cost.
1.6 Fixed Assets and Depreciation
Fixed Assets for charity use are capitalised at cost, or valuation if donated. Depreciation is calculated to write off the assets. Less their estimated residual value, over their useful lives on the following basis:
FFE Depreciation 10 years straight line basis
Depreciation commences in the year after purchase or commissioning
2 Donations Gifts & Offerings
During the year the charity received the following voluntary income
| Gifts & Offerings Tithes Other Grants & Donations Total |
£ £ £ £ Unrestricted Restricted Total Total 2021 2020 |
|---|---|
| - 31,314 31,314 67,439 13,422 - 13,422 19,366 - - - - |
|
| 44,736 - 44,736 86,805 |
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Renaissance Church Financial Statements for the period to 31 March 2021 Notes to the Financial Statements
3 Fixed Assets
| £ £ £ Equipment Equipment Total Restricted Unrestricted Net Book value b/f - - - Additions - - - Disposals - - - Depreciation - - - Net Book value c/f - - - 2021 2020 4 Stocks £ £ Stocks are valued at the lower of cost or market value - - 5 Creditors : amounts falling due within one year £ £ Accruals - 350 - 350 6 Restricted Funds Bal b/f Income Expenditure Transfers Bal c/f £ Church Building Project 10,000 - - - 10,000 10,000 - - - 10,000 7 Analysis of Net Assets Designated Unrestricted Restricted Total £ Fixed Assets - - - - Current Assets - 48,707 10,000 58,707 Current Liabilities - - - - Long Term Loans - - Fund balance - 48,707 10,000 58,707 |
£ £ £ Equipment Equipment Total Restricted Unrestricted - - - - - - - - - - - - |
£ £ £ Equipment Equipment Total Restricted Unrestricted - - - - - - - - - - - - |
|---|---|---|
| - - |
- | |
| 2021 2020 £ £ - - |
||
| £ £ - 350 |
||
| - 350 |
||
| 10,000 - - - 10,000 |
||
| Designated Unrestricted Restricted Total £ - - - - - 48,707 10,000 58,707 - - - - - - |
||
| - 48,707 10,000 58,707 |
8 Transactions with Director Trustees & Related Parties
No Trustees received remuneration or reimbursed expenses during the year.
9 Controlling Party
No one party has control over the Charity
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