Company registration number: 12012176 Charity registration number: 1184375
Redeemed Christian Church of God (RCCG) Kings Court Chapel
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2022
Michael J Emery & Co Limited Chartered Accountants 22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Statement of Trustees' Responsibilities | 6 |
| Independent Examiner's Report | 7 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 to 11 |
| Notes to the Financial Statements | 12 to 22 |
| Detailed Statement of Financial Activities | 23 to 25 |
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Reference and Administrative Details
Trustees Mrs Omobolanle Sarah Williams Mr Adegbemiga Oluwatundemilade Adewumi Mr Olurotimi Abayomi Odeniran Mr Akinola Salami Senior Management Team Mr Sola Ewedemi Mrs Tumise Ewedemi Principal Office Aurora House Deltic Avenue Rooksley Milton Keynes Buckinghamshire MK13 8LW The charity is incorporated in England and Wales. Company Registration Number 12012176 Charity Registration Number 1184375 Bankers Barclays Bank 737 Barking Road LONDON E13 9PL Independent Examiner Michael J Emery & Co Limited Chartered Accountants 22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ
Page 1
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2022.
Objectives and activities
Objects and aims
The advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule 2.2.2 - the relief of poverty, and 2.3 - the trustees must use the income and may use the capital of the trust in promoting the objects.
Public benefit
The charity's activities are aimed at meeting the physical and spiritual needs of the local community and promoting the faith. The pandemic led to the suspension of most of the Charity’s activities (in line with the UK government directives).
Hearts & Hands – The Charity provided support to underprivileged and homeless people in Milton Keynes until March 2020 when the project outreach was suspended. The Hearts and Hands project is a Sunday evening meal provision service that also provides support through listening and counselling (if required). This community initiative was run weekly in partnership with a local ecumenical church in Milton Keynes. Before the pandemic, an average of 40 - 50 regular service users benefited from food, snacks, hot soup and drinks provided at no cost to them. Service users also had the opportunity to talk to our volunteers who are willing listeners. We intend to resume this community service in future.
Compassion UK in Rwanda – Some members of the Charity continued with their monthly financial support to sponsor a child in one of the projects in Rwanda run by Compassion (a Christian charity that is committed to getting children out of poverty). Our financial support provides them with basic nutrition and educational materials.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Grant making policies
Under the 'Agreement For Common Purposes' (see Related Party Relationships below), Kings Court Chapel makes a regular proportional contribution to the World Evangelism Mission via RCCG (UK). In addition, the church from time to time, supports missionary organisations such as Festival Of Life, Good Women Fellowship, etc.
The church also provided support to members of the congregation who experienced financial hardship during the year. Those members benefited from grants to support them.
Use of volunteers
The charity's volunteers provide an invaluable contribution in various areas of service provision, development and implementation of the church's vision. With approximately 100 volunteers assisting with the effective operations of the charity, the monetary equivalent of their contribution is immense and well-appreciated by the trustees. We provide a volunteers' training programme that caters for their welfare, spiritual and socio-economic development. Due to the pandemic, only a few volunteers were required during the financial year.
Page 2
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Trustees' Report
Financial review
The charity generated a surplus of £7,213 for the year. At the balance sheet date total funds stand at £678,519. The whole of this amount represents unrestricted funds, although £586,010 has been specifically designated for the purchase of a freehold property to be used as the charity's main premises (where core activities will be undertaken).
The majority of these funds are held in highly liquid current and deposit accounts. Total funds include £32,337 of tangible fixed assets which are used to facilitate the charity's main activities.
Policy on reserves
The Trustees are aware of the requirement to have a reserves policy in place and hope to develop a policy that meets the peculiar circumstances of the charity.
Principal funding sources
Currently, the principal funding sources of the charity are from donations made by its volunteers and members.
Plans for future periods
Aims and key objectives for future periods
The charity will continue to focus on missions and community outreach. We will continue to seek strategic and collaborative relationships with other local community organisations as a means of achieving the objectives of the church.
Employment and education remain important means of relieving poverty and to that end, we will organise conferences and seminars to equip members of the local community with skills relevant for securing employment.
The charity is actively searching for a permanent establishment for her operations which will involve the acquisition of a site (freehold) to further its core activities.
Structure, governance and management
Nature of governing document
The incorporated charity is controlled by its governing documents, the articles of association and memorandum, which were created on 22 May 2019.
Recruitment and appointment of trustees
Trustees are elected and co-opted under the terms of the governing documents.
Induction and training of trustees
Any new trustee will be given an understanding of the charity's objectives and the requirements of the Charity Commission. They are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Page 3
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Trustees' Report
Arrangements for setting key management personnel remuneration
The Trustees determine the pay of key management personnel by reviewing the performance of the previous financial year. The growth in income and attendance are some of the criteria considered in setting the salary level.
Organisational structure
The church is organised such that the day to day running of the church has been delegated to the senior Pastor and the Charity Manager. The Trustees are consulted on all material issues and determine the strategic direction of the charity. Trustees meet formally twice a year, or as required to review the operations of the charity.
Relationships with related parties
Redeemed Christian Church of God (RCCG)
Kings Court Chapel is a member of the Redeemed Christian Church Of God (RCCG) which has parishes all over the world. The relationship is governed by an 'Agreement For Common Purposes' between the parishes and RCCG.
RCCG Kings Court Chapel - Charity no. 1111874
On 22 May 2019 Redeemed Christian Church of God (RCCG) Kings Court Chapel was incorporated, and since 1 January 2020 the main operations of the church have been conducted through this charity. The aims and objectives of the charity remain unchanged.
Page 4
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Trustees' Report
Financial instruments
Objectives and policies
In the opinion of the trustees, the charity's activities do not create any significant exposure to financial risks.
However, the trustees are mindful that circumstances can change and meet regularly to identify any emerging financial risks and to decide upon appropriate risk management policies.
Cash flow risk
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity’s principal financial assets are bank balances and cash.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
Liquidity risk
Liquidity risk is mitigated by the fact that the charity currently has substantial reserves. The majority of these reserves are held as liquid funds which can be accessed immediately to meet the ongoing cash flow requirements of the charity.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
.........................................
Mrs Omobolanle Sarah Williams Trustee
.........................................
Mr Olurotimi Abayomi Odeniran Trustee
Page 5
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Redeemed Christian Church of God (RCCG) Kings Court Chapel for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mrs Omobolanle Sarah Williams Trustee
......................................... Mr Olurotimi Abayomi Odeniran Trustee
Page 6
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Independent Examiner's Report to the trustees of Redeemed Christian Church of God (RCCG) Kings Court Chapel
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 9 to 22.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Redeemed Christian Church of God (RCCG) Kings Court Chapel (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Redeemed Christian Church of God (RCCG) Kings Court Chapel are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since Redeemed Christian Church of God (RCCG) Kings Court Chapel's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Redeemed Christian Church of God (RCCG) Kings Court Chapel as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Page 7
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Independent Examiner's Report to the trustees of Redeemed Christian Church of God (RCCG) Kings Court Chapel
...................................... Michael Emery ACA
ICAEW
22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ
Date:.............................
Page 8
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Statement of Financial Activities for the Year Ended 31 December 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted funds £ 373,809 1,275 375,084 (367,871) (367,871) 7,213 7,213 671,306 678,519 Unrestricted funds £ 316,067 2,260 318,327 (313,155) (313,155) 5,172 5,172 666,134 671,306 |
Total 2022 £ 373,809 1,275 |
|---|---|---|
| 375,084 | ||
| (367,871) | ||
| (367,871) | ||
| 7,213 | ||
| 7,213 671,306 |
||
| 678,519 | ||
| Total 2021 £ 316,067 2,260 |
||
| 318,327 | ||
| (313,155) | ||
| (313,155) | ||
| 5,172 | ||
| 5,172 666,134 |
||
| 671,306 |
Page 9
Redeemed Christian Church of God (RCCG) Kings Court Chapel
(Registration number: 12012176) Balance Sheet as at 31 December 2022
| Note Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 16 |
2022 £ 32,337 36,625 633,831 670,456 (24,274) 646,182 678,519 678,519 678,519 |
2021 £ 35,065 36,720 617,501 |
|---|---|---|
| 654,221 (17,980) |
||
| 636,241 | ||
| 671,306 | ||
| 671,306 | ||
| 671,306 |
For the financial year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Page 10
Redeemed Christian Church of God (RCCG) Kings Court Chapel
(Registration number: 12012176) Balance Sheet as at 31 December 2022
The financial statements on pages 9 to 22 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mrs Omobolanle Sarah Williams Trustee
.........................................
Mr Olurotimi Abayomi Odeniran Trustee
Page 11
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £5 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Aurora House Deltic Avenue Rooksley Milton Keynes Buckinghamshire MK13 8LW
2 Accounting policies
Statement of compliance
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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Redeemed Christian Church of God (RCCG) Kings Court Chapel meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Page 12
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Government grants
Government grants are recognised when the charity becomes entitled to the income, it is probable that the charity will receive the income, and the income can be measured reliably.
If receipt of a grant is conditional on the charity meeting specified performance criteria, then the grant is not recognised as income until that performance criteia has been fulfilled.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Furniture and equipment Motor vehicles
Depreciation method and rate At 10%, 20% and 33% on cost (dependent on the asset) At 20% on cost
Page 13
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
Debtors
Debtors are monies owing to the charity at the balance sheet date, including gift aid in respect of donations received during the period
Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Hire purchase and finance leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term.
Pensions and other post retirement obligations
The charity makes contributions into a defined contribution pension scheme for the benefit of its employees. Contributions payable to the pension scheme are recognised in the statement of financial activities in the period that the benefit was earned by the employee. Any pension benefits earned but not paid into the scheme at the balance sheet date are recognised as a liability in the balance sheet.
Page 14
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Grants, including capital grants; Government grants 4 Income from charitable activities Missions 5 Expenditure on charitable activities Physical and spiritual needs |
Activity undertaken directly £ 236,886 |
Unrestricted funds General £ 373,809 - 373,809 Unrestricted funds General £ 1,275 Activity support costs £ 130,985 |
Total 2022 £ 373,809 - 373,809 Total 2022 £ 1,275 Total 2022 £ 367,871 |
Total 2021 £ 307,466 8,601 |
|---|---|---|---|---|
| 316,067 | ||||
| Total 2021 £ 2,260 |
||||
| Total 2021 £ 313,155 |
£367,871 (2021 - £313,155) of the above expenditure was attributable to unrestricted funds and £Nil (2021 - £Nil) to restricted funds.
Page 15
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
6 Analysis of expenditure on charitable activities
Expenditure on activities undertaken directly
| Other grants to RCCG Wages and salaries Social security Pensions Training, books, conferences and seminars Welfare expenses Honorarium Technical department expenses Junior church expenses Music and choir expenses Word and sound Teen church expenses RCCG world evangelism mission Advertising Travelling Outreach work |
Unrestricted funds General £ 1,500 87,780 4,077 1,868 3,390 2,964 10,427 576 2,098 30,848 - 7,168 69,840 297 10,782 3,271 236,886 |
Total 2022 £ 1,500 87,780 4,077 1,868 3,390 2,964 10,427 576 2,098 30,848 - 7,168 69,840 297 10,782 3,271 236,886 |
Total 2021 £ 600 100,123 5,174 2,049 21 1,891 10,805 702 99 25,150 33 1,221 57,953 457 4,670 4,164 |
|---|---|---|---|
| 215,112 |
Support costs allocated to charitable activities
| Premises | ||||||||
|---|---|---|---|---|---|---|---|---|
| costs | ||||||||
| Governance | Finance | Administration | including | Total | Total | |||
| costs | costs | costs | depreciation | 2022 | 2021 | |||
| £ | £ | £ | £ | £ | £ | |||
| Independent | ||||||||
| examiner's fee | 1,900 | - | - | - | 1,900 | 1,800 | ||
| Other governance | ||||||||
| related costs | 1,519 | - | - | - | 1,519 | 2,056 | ||
| Bookkeeping services | 3,140 | - | - | - | 3,140 | 3,000 | ||
| Wages | - | - | 12,343 | - | 12,343 | 12,343 | ||
| Social security | - | - | 487 | - | 487 | 487 | ||
| Pensions | - | - | 183 | - | 183 | 183 | ||
| Telephone | - | - | 1,950 | - | 1,950 | 2,240 |
Page 16
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
| Governance costs £ Finance costs £ Administration costs £ Postage and stationery - - 1,782 General expenses - - 2,142 Bank charges - 2,890 - Rent - - - Utilities - - - Insurance - - - Depreciation of fixed assets - - - Legal and professional fees - - - 6,559 2,890 18,887 7 Net incoming/outgoing resources Net incoming resources for the year include: Operating leases - other assets Depreciation of fixed assets |
Premises costs including depreciation £ - - - 88,096 3,093 2,248 6,869 2,343 102,649 |
Total 2022 £ 1,782 2,142 2,890 88,096 3,093 2,248 6,869 2,343 |
Total 2021 £ 650 2,172 3,271 73,204 1,546 2,376 5,728 - |
|
|---|---|---|---|---|
| 130,985 | 111,056 | |||
| 2022 £ 88,096 6,869 |
2021 £ 73,204 5,728 |
8 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Donations made by the trustees without any conditions attached totalled £2,403 for the year (2021 - £2,635).
Page 17
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
9 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2022 £ 100,123 4,564 2,051 106,738 |
2021 £ 100,123 5,174 2,049 |
|---|---|---|
| 107,346 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| year expressed as full time equivalents was as follows: | ||
|---|---|---|
| Pastoral Administration |
2022 No 3 1 4 |
2021 No 3 1 |
| 4 |
3 (2021 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £2,051 (2021 - £2,049).
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £82,448 (2021 - £82,446).
10 Independent examiner's remuneration
| Other fees to examiners Examination-related assurance services |
2022 £ 1,900 |
2021 £ 1,800 |
|---|---|---|
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 18
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
12 Tangible fixed assets
| 12 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost At 1 January 2022 Additions At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 13 Debtors Prepayments Other debtors 14 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals |
Furniture and equipment £ 46,246 4,140 50,386 11,181 6,868 18,049 32,337 35,065 2022 £ 36,216 409 36,625 2022 £ 508 5,304 18,462 24,274 |
Total £ 46,246 4,140 50,386 11,181 6,868 18,049 32,337 35,065 2021 £ 36,312 408 |
||
| 50,386 | ||||
| 11,181 6,868 |
||||
| 18,049 | ||||
| 32,337 | ||||
| 35,065 | ||||
| 2022 £ 36,216 409 36,625 2022 £ 508 5,304 18,462 24,274 |
||||
| 36,720 | ||||
| 2021 £ 508 12,262 5,210 |
||||
| 17,980 |
Page 19
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
15 Obligations under leases and hire purchase contracts
Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| Land and buildings Within one year Between one and five years |
2022 £ 87,320 294,155 |
|---|---|
| 381,475 |
16 Funds
| Unrestricted funds General General Designated Designated Total funds Unrestricted funds General Designated Total funds |
Balance at 1 January 2022 £ 85,296 586,010 671,306 Balance at 1 January 2021 £ 80,344 585,790 666,134 |
Incoming resources £ 375,084 - 375,084 Incoming resources £ 318,107 220 318,327 |
Resources expended £ (367,871) - (367,871) Resources expended £ (313,155) - (313,155) |
Balance at 31 December 2022 £ 92,509 586,010 |
|---|---|---|---|---|
| 678,519 | ||||
| Balance at 31 December 2021 £ 85,296 586,010 |
||||
| 671,306 |
Page 20
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
The specific purposes for which the funds are to be applied are as follows:
General fund:
This is an unrestricted fund that can be used at the discretion of the trustees to further the purposes of the charity.
Building fund:
This is an unrestricted fund that has been designated for the purpose of acquiring a freehold property as a permanent premises for the charity.
17 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ 32,337 - 84,446 586,010 (24,274) - 92,509 586,010 Unrestricted funds General £ Designated £ 35,065 - 68,211 586,010 (17,980) - 85,296 586,010 |
Total funds £ 32,337 670,456 (24,274) |
|---|---|---|
| 678,519 | ||
| Total funds £ 35,065 654,221 (17,980) |
||
| 671,306 |
Page 21
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Notes to the Financial Statements for the Year Ended 31 December 2022
18 Financial instruments
Categorisation of financial instruments
| Categorisation of financial instruments | ||
|---|---|---|
| Financial assets that are debt instruments measured at amortised cost Financial liabilities measured at amortised cost |
2022 £ 409 4,848 |
2021 £ 408 |
| 12,264 |
19 Related party transactions
During the year the charity made the following related party transactions:
Redeemed Christian Church of God (RCCG)
(The charity is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The relationship is governed by an 'Agreement For Common Purposes' between the parishes and RCCG)
During the year the charity made contributions totalling £69,840 (2021: £58,553) to the RCCG World Evangelism Mission. At the balance sheet date the amount due to Redeemed Christian Church of God (RCCG) was £4,500 (2021 - £11,017).
RCCG Kings Court Chapel - Charity no. 1111874
On 1 January 2020, all assets and liabilities of the charitable trust RCCG Kings Court Chapel (charity no.1111874) were transferred to this incorporated charity by way of a gift. From that date onwards, the main operations of the church were conducted through the incorporated charity. The aims and objectives of the charity remain unchanged.
The lease on the premises used by the charity for its main charitable activities expired in May 2022 and was held in the name of the charitable trust up to this date. The new lease commenced on 31 May 2022 and is held in the name of the incorporated charity. To facilitate the continued payment of the rent a single bank account has been kept open in the charitable trust's name. Funds are transferred into this account from the incorporated charity to cover the quarterly rent and service charge payments. Apart from holding the premises lease and facilitating rent payments, the charitable trust has remained dormant throughout 2022 and 2021. At the balance sheet date the amount due from RCCG Kings Court Chapel - Charity no. 1111874 was £67 (2021 - £65).
Page 22
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Income and Endowments from: Donations and legacies (analysed below) Charitable activities (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
2022 Unrestricted funds General £ 373,809 1,275 375,084 (367,871) (367,871) 7,213 7,213 671,306 678,519 |
2022 Total £ 373,809 1,275 375,084 (367,871) (367,871) 7,213 7,213 671,306 678,519 |
Total 2021 £ 316,067 2,260 |
|---|---|---|---|
| 318,327 | |||
| (313,155) | |||
| (313,155) | |||
| 5,172 | |||
| 5,172 666,134 |
|||
| 671,306 |
Page 23
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Donations and legacies Building donations Donations UK Government grants Charitable activities Other Charitable activities Other grants to RCCG Wages and salaries Staff NIC (Employers) Staff pensions (Defined contribution) Training, books, conferences and seminars Welfare expenses Travelling Honorarium Rent |
2022 Unrestricted funds General £ - 373,809 - 373,809 2022 Unrestricted funds General £ 1,275 1,275 2022 Unrestricted funds General £ 1,500 100,123 4,564 2,051 3,390 2,964 10,782 10,427 88,096 |
2022 Total £ - 373,809 - 373,809 2022 Total £ 1,275 1,275 2022 Total £ 1,500 100,123 4,564 2,051 3,390 2,964 10,782 10,427 88,096 |
Total 2021 £ 220 307,246 8,601 |
|---|---|---|---|
| 316,067 | |||
| Total 2021 £ 2,260 |
|||
| 2,260 | |||
| Total 2021 £ 600 100,123 5,174 2,049 21 1,891 4,670 10,805 73,204 |
Page 24
Redeemed Christian Church of God (RCCG) Kings Court Chapel
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Light, heat and power Insurance Telephone and fax Outreach work Technical department expenses Printing, postage and stationery Junior church expenses Music and choir expenses Word and sound General expenses Teen church expenses RCCG world evangelism mission Advertising Bank charges Depreciation of plant and machinery Depreciation of fixtures and fittings Other governance related costs Bookkeeping services Independent examiner's fee Legal and professional fees |
2022 Unrestricted funds General £ 3,093 2,248 1,950 3,271 576 1,782 2,098 30,848 - 2,142 7,168 69,840 297 2,890 4,334 2,535 1,519 3,140 1,900 2,343 367,871 |
2022 Total £ 3,093 2,248 1,950 3,271 576 1,782 2,098 30,848 - 2,142 7,168 69,840 297 2,890 4,334 2,535 1,519 3,140 1,900 2,343 367,871 |
Total 2021 £ 1,546 2,376 2,241 4,164 701 651 98 25,150 34 2,171 1,221 57,953 457 3,272 3,784 1,943 2,056 3,000 1,800 - |
|---|---|---|---|
| 313,155 |
Page 25