Victory Church Rugeley
Charity Number 1183524
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Victory Church Rugeley
Charity Number 1183524
CONTENTS
CHARITY INFOMRATION ..................................................................................................... 2 TRUSTEES REPORT ............................................................................................................. 3 INDEPENDENT EXAMINER’S REPORT .................................................................................. 5 FINANCIAL ACCOUNTS (RECEIPTS AND PAYMENTS) ............................................................ 6 NOTES TO THE ACCOUNTS .................................................................................................. 8
Annual Report
Page 1
Victory Church Rugeley
Charity Number 1183524
CHARITY INFOMRATION
Trustees Margaret Gasson – Chair / Secretary Samuel Smith – Deputy Chair Matthew Kingsman – Treasurer Martin Sutton – Property Trustee Governing Document CIO Association – Constitution Charity Registration Number 1183524 Company Registration Number CE017573 Registered Address Victory Church Rugeley 11 Anson Street Rugeley WS15 2BG Independent Examiner Mr Philip Barker (A.C.M.A) Bank Barclays Bank
Annual Report
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Victory Church Rugeley
Charity Number 1183524
TRUSTEES REPORT
Objectives and Activities
The advancement of the Christian faith in accordance with the doctrines set out in the article of faith and the worship of God in the county of Staffordshire and elsewhere by any means whatsoever including (but not by way of limitation) the preaching and proclamation of the Gospel and the teaching of Christian doctrine and principles and of pastoral care of Christian People and the printing and distribution of the Bible.
The relief of persons who are in conditions of need or hardship by reason of their youth, age, illhealth, disability, financial or other disadvantage and to relieve the distress caused thereby in the county of Staffordshire and elsewhere as the trustees may from time to time see fit.
The advancement of education in accordance with the doctrines of faith as set out in the articles of faith as the trustees may from time to time see fit.
Faith and Church Pastoral Programmes
Regular Sunday corporate worship Teaching series Men’s and Women’s ministries Home groups On-line services/support groups
Community Projects:
Hub Café Sensory Room Uniform Bank Week of Wonder (Christmas gifts for underprivileged children) ‘FareShare’ Food Distribution (to local families in financial hardship)
The Charity Commission guidance on public benefit has been taken into consideration by the trustees during the performance of their duties.
Achievements and Performance
Throughout 2020 Victory Church Rugeley (VCR) has gone through major changes. With the impact of COVID-19 it forced us to move our weekly worship service online. Despite this change we have found that our reach has increased, as our weekly online services have enabled us to reach a larger audience of people.
Despite being in lockdown, we have found that our impact in the community has increased. We were still able to run vital projects such as the uniform bank, the week of wonder project, and this year we introduced a Christmas food hamper called the Thankful Box Project which provided a Christmas meal for 300 people who were in need.
As COVID restrictions lifted in the middle of 2020 we were able to meet together again in person and were delighted to be able to still reach a wider community online at the same time.
Annual Report
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Victory Church Rugeley
Charity Number 1183524
In a year which has been filled with so much uncertainty and difficulty for so many, it has been a blessing for VCR to be able to share hope with our community, both inside and outside the church. From multiple weekly meetings online, to food and care packages for those in need, we have found that throughout 2020 VCR has been able to fulfil its vision like never before; to reach out to as many people as possible, to teach and encourage people from all walks of life, and to mobilise them into their unique purpose
VCR had £9,622 in cash (in hand and at bank) of unrestricted funds at the end of the accounting period; this represents over 2 months operating costs; it also had £7,243 of restricted funds. VCR also owns the property from which it operates which has a value of circa £999,000. Due to a change in status to a CIO, Gift Aid registration is still to be completed and an estimated value of circa £8,789 may be claimable from HMRC. VCR also makes a voluntary tithe to Victory Churches International (VCI) UK, there is circa £6,208 due to be paid, but it has been agreed with VCI that this will only be paid once Gift Aid for the period has been claimed.
The Trustees have set a reserve holding policy of £5,000 of unrestricted funds. These funds are set aside for any unexpected ‘non-discretionary’ expenditure (e.g. building repairs or legal obligations) or if planned income is significantly lower than budgeted. Use of the reserve funds must be agreed by the Trustees and the reason recoded in a Trustees Meeting.
Structure Governance and Management
VCR is a Charity Incorporated Organisation (CIO) governed by a constitution. The trustees are elected by the CIO members in accordance with the constitution and this would normally occur during the Annual General Meeting. The day-to-day running of the Church is carried out by the Senior Pastor who reports to the Trustees.
Other Details
The transfer of the property deed of 11 Anson St. from the Trustees of 'Victory Christian Centre' to the CIO 'Victory Church Rugeley' is still to be completed and registered with the Land Registry. The Trustees of Victory Christian Centre have however signed 'letters of intent' and a 'vesting declaration' related to the transfer of all 'Victory Christian Centre' assets to 'Victory Church Rugeley'. Solicitors are assisting with this process and it was due to be completed during this reporting period but was delayed to COVID-19; it is now expected to be completed by August 2021.
Victory Church Rugeley is associated with Victory Churches International (VCI). VCI collects and holds funds for the use of VCI Churches within the UK and Europe for use in those home countries and for international missions. In October 2020, the VCI Board requested that these funds be held and managed by Victory Church Rugeley on their behalf and in accordance with their instructions for the use of the funds. These VCI Funds were transferred to Victory Church Rugeley on 25 October 2020 and are recorded as Restricted Funds in the financial report.
Annual Report
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Victory Church Rugeley
Charity Number 1183524
INDEPENDENT EXAMINER’S REPORT
I report to the trustees on my examination of the accounts of Victory Church Rugeley (“the Trust”) for the year ended 31 March 21 as set out on pages 6 to 9 of this document.
Responsibilities and basis of report.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Disclosure.
Nil
Name: Philip Barker Signature Date Professional Body: Charted Institute of Management Accountants (C.I.M.A) Address: 9 Valley View, Fulwood, Preston, PR2 8HA
Annual Report
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Victory Church Rugeley
Charity Number 1183524
FINANCIAL ACCOUNTS (RECEIPTS AND PAYMENTS)
VICTORY CHURCH RUGELELY FOR YEAR ENDED 31 MARCH 2021
RECEIPTS AND PAYMENTS
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Notes | Funds 2021 |
Funds 2021 |
Funds 2021 |
Funds 2020 |
|
| £ | £ | £ | £ | ||
| Receipts | |||||
| Donations | 1 | 36,582 | 2,393 | 38,975 | |
| Gift Aid | 2 | - | - |
- | |
| Grants | 3 | 6,917 | 10,631 | 17,547 | |
| Room Hire | 1,280 | - | 1,280 | ||
| Trading Activity | 4 | - | - |
- | |
| Other | 5 | 2,507 | - | 2,507 | |
| Total Receipts | 47,286 | 13,024 | 60,310 | 61,491 | |
| Payments | |||||
| Materials | 6 | 480 | - | 480 | |
| Administration | 4,867 | 12 | 4,879 | ||
| Staff | 23,903 | - | 23,903 | ||
| Programmes | 3,085 | 4,137 | 7,222 | ||
| Building & Utilities | 11,049 | 1,000 | 12,049 | ||
| Grants/Tithes | 7 | - | 280 | 280 | |
| Other (Inc. Adjustments) | 8 | (252) | - | (252) | |
| Total Payments | 43,132 | 5,429 | 48,560 | 78,227 | |
| Surplus/(Loss) | 4,154 | 7,595 | 11,749 | (16,736) | |
| Funds at End of Previous Period | 5,115 | - | 5,115 | ||
| Fund Transfers | 9 | 353 | (353) | - | |
| Balance at 31 March 2021 | 9,622 | 7,243 | 16,864 |
Annual Report
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Victory Church Rugeley
Charity Number 1183524
ASSETS AND LIABILITIES
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| Cash Funds | Notes | Funds | Funds | Funds |
| £ | £ | £ | ||
| Main Bank Account | 8,182 | 6,633 | 14,814 | |
| Hub Café Bank Account | 1,128 | 100 | 1,228 | |
| Donations Petty Cash | 18 | 510 | 528 | |
| Hub Café PettyCash | 294 | - | 294 | |
| Total Cash Funds | 10 | 9,622 | 7,243 | 16,864 |
| Other Monetary Assets | ||||
| Nil | ||||
| Investment Assets | ||||
| Nil | ||||
| Current | ||||
| Assets Retained for the Charities Own Use | Fund | Value | ||
| £ | ||||
| Freehold Property - 11 Anson Street, Rugeley, WS15 2BG. |
11 | General Fund (unrestricted) |
999,000 | Valued May 2019 |
| Fixture and Fittings of Above Property. | General Fund (unrestricted) |
N/A | ||
| ‘Furniture, Catering Equipment, Computer Equipment, Sound and Media Equipment held at above property. |
General Fund (unrestricted) |
N/A | ||
| Liabilities | Fund | Amount Due | ||
| Victory Churches International (UK) Voluntary Tithe for period 1 Jul 19 to 31 Mar 21. |
12 | General Fund (unrestricted) |
6,208 |
The notes on pages 8 to 9 of this document form part of these accounts.
Approved by the Trustees of Victory Church Rugeley
Name Signature Date Position
Annual Report
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Victory Church Rugeley
Charity Number 1183524
NOTES TO THE ACCOUNTS
1. Restricted Individual Contribution Income
Fareshare £1,343 Week of Wonder £445 VCI Missions £530 Total £2,393
- Due to a change in status to a CIO, Gift Aid registration is still to be completed and an estimated value of circa £8,789 may be claimable from HMRC.
3. Unrestricted Grant Income
| Unrestricted Grant Income | |
|---|---|
| Government Job Retention Scheme (Furlough) | £6,917 |
| Restricted Grant Income | |
| Energy Efficiency Improvement | £1,000 |
| Outreach | £200 |
| Thankful Boxes | £1,510 |
| Week of Wonder | £3,350 |
| VCI Europe – Transfer In | £1,135 |
| VCI UK – Transfer In | £3,094 |
| VCI Missions–Transfer In | £342 |
| Total | £10,631 |
-
The Hub Café was closed for the whole reporting period except for the ‘Week of Wonder’ event which purchased drinks for participants using £353 of the event’s grant funding. This is recorded as a Fund Transfer.
-
Refunds for overpayments made to utility companies and bank interest.
-
Consumables purchased for Hub Café. Bills paid for orders placed in previous accounting period and in preparation for ‘Week of Wonder’ event.
| 7. | Staff Pay £21,239 Employer NI Contributions £513 Employer Pension Contributions £1,715 Additional Payments to HMRC account1 £436 |
|---|---|
Total £23,903 |
-
Adjustments made to account for HMRC payments made using credit form unallocated payments to HMRC during the financial year.
-
Funds transferred to ‘VCI[2] Missions’ prior to the transfer of VCI Funds to VCR[3] .
1 Overdue payments from FY19/20 and overpayments for FY20/21
2 Victory Churches International
3 Victory Church Rugeley
Annual Report
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Victory Church Rugeley
Charity Number 1183524
| 10. | Restricted Fund Balances VCI UK £3,094 VCI Europe £1,135 VCI Missions £592 FareShare £1,343 Week of Wonder £894 Thankful Boxes £161 Outreach £0 Energy Efficiency £0 Easter Outreach £24 |
|---|---|
| Total £7,243 |
-
The transfer of the property deed of 11 Anson St. from the Trustees of 'Victory Christian Centre' to the CIO 'Victory Church Rugeley' is still to be completed and registered with the Land Registry. The Trustees of Victory Christian Centre have however signed 'letters of intent' and a 'vesting declaration' related to the transfer of all 'Victory Christian Centre' assets to 'Victory Church Rugeley'. Solicitors are assisting with this process, and was due to be completed during this reporting period but was delayed due to COVID-19; it is now expected to be completed by August 2021.
-
The Charity makes a voluntary tithe on individual contributions to VCI Funds. There is circa £6,208 due to be paid, but it has been agreed that this will only be paid once Gift Aid for the period has also been claimed. In October 2020, the VCI Board requested that VCI Europe and VCI UK funds be held and managed by VCR on their behalf and in accordance with their instructions for the use of the funds. These VCI Funds were transferred to VCR on 25 October 2020 and are recorded as Restricted Funds in the financial report. When made, the voluntary tithe will now be in the form of a Fund Transfer into the relevant VCI Funds held by VCR.
Annual Report
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