**Registered Charity No 1177437**
## **RENAISSANCE Church**
## **UNAUDITED FINANCIAL STATEMENTS For the period ended 31 March 2023**
## **(A Charitable Incorporated Organisation)**
**A Charitable Incorporated Organisation Renaissance Church Financial Statements for the period to 31 March 2023 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 2023 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 2023 Trustees' Report (1)**
The Trustees have pleasure in presenting their report and financial statements for the period ended 31 March 2023.
## **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 £14,208 (2022 £1,705) 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 5:10-12 “That year they ate the
- produce of Cannan” • The significant development which occupied much of the Church calendar for this year was the merging of Renaissance Church and Carlton Community Church, a journey which began in June 2022, following the announcement earlier in the year by the then Pastors of Carlton Community Church, of their intention to finish as Pastors, with the journey culminating in the merging of the 2 Churches on Sunday 22nd January 2023.
- This followed a period of careful consideration and prayerful deliberation by the leadership teams
- of both churches to find the mind of God.
- Out of this, the leaders of both churches came to the same belief and decision, as the Scripture
- says in
Acts 15:28, “It seemed good to the Holy Spirit and to us”, that it was right in God for the two churches to join together as one under the leadership of Remi & Pearl Anekwe as Pastors of the combined congregation. • This development came just over a year from Renaissance Church moving into its home in Hillview Road, Carlton and the transitioning of some of the members of the previous Church, Foxhill Evangelical Church as part of Renaissance Church.
- Having undergone the earlier transition, the Church was therefore well equipped and experienced
- to be able to undertake what was no small task in the merging of Renaissance Church and Carlton Community Church.
Page 1
## **Renaissance Church**
## **Financial Statements for the period to 31 March 2023**
**Trustees' Report (2)**
## **REVIEW 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 remains 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 neighborhood and but for the size, signage and Cross outside, could pass for a larger home in the area.
## **MINISTRIES**
**The ministry of the Word** remained strong and produced noticeable fruit particularly as a result of the “Devoted” series which was preached in the Church for a number of months, a title 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.
**Prayer** - remains the backbone of the Church, with prayer happening organically in the service and in organised prayer. A small group of people arrive early to pray and intercede for the service. Additionally, the Church meets on the last Thursday of the month to pray.
**What’s on in the Week** – the activities in the week continued to thrive: Toddler Group (Tuesdays); Coffee Morning (Wednesdays) and Knit & Knatter (Thursdays). Together with the Sunday meetings, there is circa 100 people coming in and out of the building on a weekly basis.
The latter part of the year was spent preparing the Church for the proposed merger through the ministry of the Word in a series entitled: “Possessing The Land”
## **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 worked towards the implications of the merger.
Page 2
## **Renaissance Church Financial Statements for the period to 31 March 2023 Trustees' Report (3)**
## **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 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
- 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:
John Fahy Trustee (Chair)
Remi Anekwe
Trustee
Page 3
## **Renaissance Church Financial Statements for the period to 31 March 2023 Independent Examiners Report**
## **Independent Examiners Report to the Trustees**
I report on the accounts of the charity for the period ended 31 March 2023 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 of the
accounting records were not kept in accordance with s130 of the Charities Act, or the accounts
did not accord with the accounting records, or
- c the accounts did not comply with requirements of the Charities Act, in terms of form and content of the Charities Accounts & Reports Regulations 2008, other than any requirement that the accounts give a true and fair view which is not a matter considered part of my Independent Examination.
- 2 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
Mr A Pearson FCMA
Exec Practice Ltd 87 Main Street Newtown Linford Leicestershire LE6 0AF Date: 21 February 2024
Page 4
## **Renaissance Church Financial Statements for the period to 31 March 2023 Statement of Financial Activities**
|**Note**
**Incoming Resources**|**£**
**£**
**£**
_£_
**Unrestricted Restricted**
**Total**
_Total_
**Funds**
**Funds**
**2023**
_2022_|**£**
**£**
**£**
_£_
**Unrestricted Restricted**
**Total**
_Total_
**Funds**
**Funds**
**2023**
_2022_|**£**
**£**
**£**
_£_
**Unrestricted Restricted**
**Total**
_Total_
**Funds**
**Funds**
**2023**
_2022_|
|---|---|---|---|
|Donations Gifts & Offerings
**2**
Gift Aid
Investment Income
**Total Income**
**Resources expended**
**Raising Funds**Room & Venue Hire
Online Costs
Activities
**Charitable Activities**Ministry Resources
Donations to Charity
Contract Services
Donations
Refreshments
Computer & IT
Insurances
Legal & Professional
Equipment
Light & Heat
Building Rent
Repairs & Maintenance
Travel & Accommodation
Volunteer Expenses
Bank Charges
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**
**Renaissance Church**
**Financial Statements for the**
**period to 31 March 2023**
**Balance Sheet**
60,225
8,412
404
**69,041**
569
5,784
-
**6,353**
304
758
12,910
88
1,419
996
427
5,315
1,171
4,856
2,158
2,399
1,039
1,476
177
5,150
**40,643**
870
**47,866**
**21,175**
**21,175**
53,445
**74,620**
|60,225
8,412
404
|-
60,225
**8,412**
_44,722_
_-_
- **404** _6_||
||**69,041**
569
5,784
-
**6,353**
304
758
12,910
88
1,419
996
427
5,315
1,171
4,856
2,158
2,399
1,039
1,476
177
5,150
**40,643**
870
**47,866**
**21,175**
|**-**
-
-
**-**
-
-
-
-
6,967
-
**6,967**
**-**
**6,967**
**(6,967)**|**69,041**
_44,728_
**569** _2,210_
**5,784** _6,751_
**- **
_-_
**6,353** _8,961_
**304** _1,541_
**758** _-_
**12,910**_14,000_
**88** _250_
**1,419** _431_
**996** _1,359_
**427** _461_
**5,315** _3,285_
**1,171** _3,006_
**4,856** _1,624_
**9,125** _3,033_
**2,399** _1,915_
**1,039** _23_
**1,476** _-_
**177** _-_
**5,150**
_2,294_
**47,610**_33,222_
**870**
_840_
_54,833_
_43,023_
**14,208** _1,705_|
||**21,175**
53,445
|**(6,967)**
6,967|**14,208** _1,705_
**60,412**_58,707_|
||**74,620**
|**-**|**74,620**_60,412_|
|||||
**£ £** _£_ **Note Unrestricted Restricted Total** _Total_
Page 5
**Assets**
**Funds Funds**
**2023**
_2022_
**----- Start of picture text -----**
Fixed Assets 3 Current Assets
- - - -
Stock 4
Debtors & Prepayments
Cash at Bank and in hand - - - -
- - -
-
74,605 74,605 60,412
Less Current Liabilities
74,605 - 74,605 60,412
Creditors less than one year 5
Net Current Assets - - - -
-
Creditors more than one year 74,605 74,620 60,412
Net Assets - - -
-
74,605 74,620 60,412
Reserves
Designated Funds
Unrestricted funds
Restricted funds 6 - - - -
74,620 - 74,620 53,445
- - - 6,967
Total Reserves 74,620 - 74,620 60,412
**----- End of picture text -----**
Approved by the Trustees on ………………………And signed on its behalf by:
**----- Start of picture text -----**
John Fahy Chairman
Vivian Oliver Secretary
Renaissance Church
Financial Statements for the period to 31 March 2023
Notes to the Financial Statements
**----- End of picture text -----**
**----- Start of picture text -----**
1 Accounting Policies 1.1a Basis of preparation
**----- End of picture text -----**
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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements as permitted by FRS 102
- the requirements of Section 7 Statement of Cash Flows
## **1.1b Preparation of the accounts on a going concern basis**
The Charity reported a surplus of £14,208 (2022 £1,705) for the period ended 31 March 2023. 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.
Page 6
## **1.2 Resources Expended**
Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings, costs have been allocated to activities on a basis consistent with the use of resources. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure and it is probable that a transfer of economic benefit will be required in settlement of the obligation, and can be reliably measured.
## **1.3 Donations and Voluntary Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to funds and it is probable that the income will be received and the amount can be measured reliably. 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 have been allocated between charitable activity and governance costs Where items involve more than one fund they are apportioned between categories, and apportioned to fund based on the estimated expenditure of resource according to the nature of cost. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The aim and use of restricted funds is set out in the notes to the financial statements.
## **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_
**2023**
_2022_|
|---|---|---|
|||51,590
- _51,590_ _30,866_
8,635 -_8,635 13,856_|
|||_60,225- 60,225 44,722_|
Page 7
## **Renaissance Church Financial Statements for the period to 31 March 2023 Notes to the Financial Statements**
## **3 Fixed Assets**
|**6**
**Restricted Funds**
Church Building Project
**7**
**Analysis of Net Assets**
Fixed Assets
Current Assets
Current Liabilities
Long Term Loans
**Fund balance**
**8**
**Transactions with Director Trustees &**
**Related Parties**
**£**
**Equipment**
**Restricted**
Net Book value b/f
-
Additions
-
Disposals
-
Depreciation
**Net Book value c/f**
-
**4**
**Stocks**
Stocks are valued at the lower of cost or market value
**5**
**Creditors : amounts falling due within one year**
Accruals
Bal b/f
6,967
**6,967**
Designated
-
-
-
-
**-**
|**6**
**Restricted Funds**
Church Building Project
**7**
**Analysis of Net Assets**
Fixed Assets
Current Assets
Current Liabilities
Long Term Loans
**Fund balance**
**8**
**Transactions with Director Trustees &**
**Related Parties**
**£**
**Equipment**
**Restricted**
Net Book value b/f
-
Additions
-
Disposals
-
Depreciation
**Net Book value c/f**
-
**4**
**Stocks**
Stocks are valued at the lower of cost or market value
**5**
**Creditors : amounts falling due within one year**
Accruals
Bal b/f
6,967
**6,967**
Designated
-
-
-
-
**-**
|**£**
**Equipment**
**Unrestricted**
-
-
-
-
Income
Expenditure
**-** **6,967**|**£**
**Equipment**
**Unrestricted**
-
-
-
-
Income
Expenditure
**-** **6,967**||**2023**
£
-
£
**-**|**-**
**-**
**-**
**-**
|**£**
**Total**
_2022_
_£_
_-_
_£_
_-_|
|---|---|---|---|---|---|---|---|
|||||
||||
||||||**- **|
|
_-_
**Bal c/f**
£
**-**|
||||||
Transfers
**-**|||
||**6,967**
|**- **|
**6,967**||
**- **||
**-**
**Total**
£
**-**
**74,605**
**-**
**-**|
||
Designated
-
-
-
|Unrestricted
-
74,605
-
-|
Restricted
-
-
-|||||
||-
|74,605|-||||**74,605**|
||**-**
||**-**
||||**-**
|
Remi Anekwe received £4,000 (2022 £6,000) & Pearl Anekwe received £7,000 (2022 £6,000) for services provided to the Church under service contracts.
## **9 Controlling Party**
No one party has control over the Charity
Page 8