Registered Charity No 1177437
RENAISSANCE Church
UNAUDITED FINANCIAL STATEMENTS For the period ended 31 March 2022
(A Charitable Incorporated Organisation)
A Charitable Incorporated Organisation Renaissance Church Financial Statements for the period to 31 March 2022 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 2022 Company Information
Trustees John Fahy Chairman Chris Nwabuikwu Remi Anekwe Pearl Anekwe Vivian Oliver 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 2022 Trustees' Report (1)
The Trustees have pleasure in presenting their report and financial statements for the period ended 31 March 2022.
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 (2021 £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 beginning of the year was from Joshua 5:12 “The manna stopped the day after they ate this food from the land; there was no longer any manna for the Israelites but that year they ate of the produce of Canaan.”
- The Church has fully transitioned, spiritually, locationally and congregationally, incorporating the former members of the previous church who have chosen to stay into the new combined church.
• External and internal works on the building have been done: installation of a lighted Cross and Church signage on the outside and internally: painting of the building and installation of hand dryers have all added to the feel of “Crossed Over, Transition and New Beginnings”.
• A number of initiatives were undertaken: Disciple Teachings, Evangelistic events (Hymns Night; Unrestrained Worship); Passover Meal and in house, the establishment of a Men’s Group, 4HIM (4HER to follow).
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Numerical growth – 18 new people have been added including families.
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There has been a sese of a growing momentum as Vision, Mission, Values and a new teaching series entitled “Devoted” from Acts 2:42-47 was preached.
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This has led to an increasing sense of people rising up and taking ownership and responsibility.
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Notable “Firsts” have been undertaken, the benefits of having an own building:
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In house Prayer meeting
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Discipleship Graduation
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Baptism
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Converts
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New families
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Renaissance Church Financial Statements for the period to 31 March 2022
Trustees' Report (2)
REVIEW
Going into the New Year 2022 new Elders in Lurline Stewart and Joy Laslett have been added to the Eldership team.
LIFE OF THE CHURCH
There is an increasing sense of the presence of God in the meetings giving rise to momentum, excitement and expectancy. The chief characteristic commented on by visitors to the Church is the welcome and family feel. This is both intentional and as a by product of the location and design of the Church which sits in a neighbourhood and but for the size, signage and Cross outside, could pass for a larger home in the area!
MINISTRIES
The ministry of the Word remains strong and is producing noticeable fruit. Vision, Mission and Values have been preached The Church embarked on a series entitled “Devoted” taken from the phrase “They devoted themselves to the Apostles teaching and to the fellowship, to the breaking of bread and to prayer” from Acts 2:42-47 and this has had a marked impact in the life of the Church. There is rising up among the people and an ownership of the work of God.
Prayer - there is a growing momentum in the House to pray both organically in the service and in organised prayer. A small group of people arrive early to pray and intercede for the service. As a congregation, we gather once monthly on the last Thursday of the month to pray. This meeting has been growing numerically and in power. These are interactive times which incorporate bible study, group discussion and prayer arising from these.
Children - the Children’s department have changed the format of the Children’s program to adapt to the needs of the smaller group of children at present. There has been a new Youtube channel started, called Powercells. The Toddler group on Tuesdays continues to grow. The challenge in terms of this being a feeder of children into the Church, is that many of the children who come are brought by child minders and not the parents themselves.
DISCIPLESHIP – we are developing a holistic and co-ordinated approach to discipleship which involves 3 stages/programs: Salvation; Transformation; Glorification.
Salvation: After people are saved, they go through a Discipleship teaching program which lasts an academic year (9 months) at the end of which we hold a graduation ceremony – the first one was held April.
Transformation: is the next program aimed at helping people to be, being transformed into the image of Christ.
Glorification: is aimed at helping people to find their Gift, their FIT and released to FUNCTION in the Body to bring glorify to God.
Other Activities – there are several activities which happen in the life of the Church weekly: Toddler Group (Tuesdays); Coffee Morning (Wednesdays) and Knit & Natter (Thursdays). Together with the Sunday meetings, there is circa 100 people coming in and out of the building on a weekly basis.
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Renaissance Church Financial Statements for the period to 31 March 2022 Trustees' Report (3)
Operations
A number of operational related works were carried out in the building externally and internally which carry cost but which have all added to the momentum and trajectory that the Church is headed.
Volunteers
All the Church’s work is carried out mainly by 20+ volunteers in the Church and we are grateful to God for their time, dedication and commitment.
Summary
We thank God for the sense of life and momentum, numerical growth and the people rising up and taking ownership and responsibility that is happening and the excitement that is in the House as we continue to pray and look forward to what God will do in the rest of 2022.
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
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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:
John Fahy Trustee (Chair) Remi Anekwe Trustee
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Renaissance Church Financial Statements for the period to 31 March 2022 Independent Examiners Report
Independent Examiners Report to the Trustees
I report on the accounts of the charity for the period ended 31 March 2022 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: 01 May 2022
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Renaissance Church Financial Statements for the period to 31 March 2022 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 Light & Heat Building Rent Repairs & Maintenance 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 2022 2021 |
|---|---|
| 44,722 44,722 44,736 - - - - 6 - 6 14 |
|
| 44,728 - 44,728 44,750 |
|
| 2,210 - 2,210 692 6,751 6,751 10,180 - - - - |
|
| 8,961 - 8,961 10,872 1,541 - 1,541 465 14,000 14,000 12,000 250 250 930 431 - 431 105 1,359 1,359 878 461 461 394 3,285 3,285 430 3,006 - 3,006 1,012 1,624 1,624 - - 3,033 3,033 - 1,915 1,915 - 23 23 38 2,294 - 2,294 3,370 |
|
| 30,189 3,033 33,222 19,622 840 - 840 790 |
|
| 39,990 3,033 43,023 31,284 |
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| 4,738 (3,033) 1,705 13,466 |
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| 4,738 (3,033) 1,705 13,466 48,707 10,000 58,707 45,241 |
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| 53,445 6,967 60,412 58,707 |
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Renaissance Church Financial Statements for the period to 31 March 2022 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 2022 2021 |
|---|---|
| - - - - |
|
| - - - - - - - 53,445 6,967 60,412 58,707 |
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| 53,445 6,967 60,412 58,707 - - - - |
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| 53,445 6,967 60,412 58,707 |
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| - - - |
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| 53,445 6,967 60,412 58,707 |
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| - - - - 53,445 - 53,445 48,707 - 6,967 6,967 10,000 |
|
| 53,445 6,967 60,412 58,707 |
Approved by the Trustees on ………………………And signed on its behalf by:
| John Fahy | Chairman |
|---|---|
| Vivian Oliver | Secretary |
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Renaissance Church Financial Statements for the period to 31 March 2022 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 £13,466 (2021 £13,168) for the period ended 31 March 2022. 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 Total |
£ £ £ £ Unrestricted Restricted Total Total 2022 2021 |
|---|---|
| 30,866 - 30,866 31,314 13,856 - 13,856 13,422 |
|
| 44,722 - 44,722 44,736 |
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Renaissance Church Financial Statements for the period to 31 March 2022 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 - - - 2022 2021 4 Stocks £ £ Stocks are valued at the lower of cost or market value - - 5 Creditors : amounts falling due within one year £ £ Accruals - - - - 6 Restricted Funds Bal b/f Income Expenditure Transfers Bal c/f £ Church Building Project 10,000 - 3,033 - 6,967 10,000 - 3,033 - 6,967 7 Analysis of Net Assets Designated Unrestricted Restricted Total £ Fixed Assets - - - - Current Assets - 53,445 6,967 60,412 Current Liabilities - - - - Long Term Loans - - Fund balance - 53,445 6,967 60,412 |
£ £ £ Equipment Equipment Total Restricted Unrestricted - - - - - - - - - - - - |
£ £ £ Equipment Equipment Total Restricted Unrestricted - - - - - - - - - - - - |
|---|---|---|
| - - |
- | |
| 2022 2021 £ £ - - |
||
| £ £ - - |
||
| - - |
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| 10,000 - 3,033 - 6,967 |
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| Designated Unrestricted Restricted Total £ - - - - - 53,445 6,967 60,412 - - - - - - |
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| - 53,445 6,967 60,412 |
8 Transactions with Director Trustees & Related Parties
Remi & Pearl Anekwe provide services to the Church on a self employed basis each received £7,000 (2021 £6,000) under a service contract
9 Controlling Party
No one party has control over the Charity
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