## **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!
- Covid-19 pandemic.
- National lockdowns throughout the year with various degrees of restrictions/easing but not allowing return to normal physical meetings.
- Church in the Park 6th September.
- Online delivery of Church.
- 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
- select suitable accounting policies and apply them consistently
- make reasonable and prudent judgements and estimates
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
- observe the methods and principles in the Charities SORP
The Trustees are also responsible for:
- keeping proper accounting records
- safeguarding the charity's' assets
- 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:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- 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
- 1 which gives me reasonable cause to believe that in any material respect the requirements
- a to keep accounting records in accordance with s386 of the Companies Act 2006, and
- 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
- 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_|
||**31,284**
**-**
**31,284**
_55,650_|
||**13,466**
**-**
**13,466**
_13,168_|
||**13,466**
**-**
**13,466**
_13,168_
35,241
10,000
**45,241**
_32,073_|
||**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_|
Page 7
## **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
Page 8