2021-09-14-accounts - Rccg Praise Chapel

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

RCCG Praise Chapel CIO

Charity No. 1191969

Trustee's Annual Report and financial statements

14 September 2021

RCCG Praise Chapel CIO CONTENTS

	Pages
Trustees Annual Report	1
Independent Examiner's report	2
Statement Of Financial Activities	3
Balance Sheet	4
Notes To The Accounts	5-11
Detailed Statement Of Financial Activities	12-13

Page 1

RCCG Praise Chapel CIO TRUSTEES ANNUAL REPORT

The Trustee, presents their report with the unaudited financial statements of the charity for the year ended 14 September 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1191969

Registered Office

48 Manser road Rainham Essex RM13 8NL

Trustee

The Directors of the charitable company are its Trustee for the purposes of charity law. The following Director and Trustee served during the year:

IRIKEFE CHAPELL NATUFE

Directors of Corporate Trustees

IRIKEFE CHAPELL NATUFE (Chair) IBIRONKE ADEWUSI KENNY ADEBAMBO STELL RAHMAN-HAASTRUP JULIET IYERE

Accountants

Paul Victoria Accountants 2nd Floor 134 South street Romford, Essex RM1 1TE

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with taking reasonable steps for the the Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

IRIKEFE CHAPELL NATUFE Chairman #########

Independent Examiner’s report to the trustees/directors of RCCG PRAISE CHAPEL CIO

I report on the accounts for the year ended 14 September 2021 which are set out on

Respective The charity's trustees are responsible for the preparation of the responsibilities of accounts. The charity’s trustees/directors consider that an audit is not required for this year under section 144(2) of the Charities trustees/Directors Act 2011 ("the 2011 Act") and that an independent examination is and examiner · examine the accounts under section 145 of the 2011 Act,

· to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act and

to state whether particular matters have come to my

Basis of My examination was carried out in accordance with general independent Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity examiner’s and a comparison of the accounts presented with those records. statement It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the

trustees/directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether Independent In connection with my examination, no matter has come to my examiner's 1. which gives me reasonable cause to believe that in, any material respect, the requirements: statement · to keep accounting records in accordance with section 130 · to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 have not been met ; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Monday, 25 July 2022

Olusola Olalekan Shokunbi FCCA Paul Victoria Accountants

2nd Floor, 134 South street, Romford, Essex RM1 1TE

RCCG Praise Chapel CIO STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 14 September 2021

Unrestric ted funds 2021 £ 33,758	Restricte d funds 2021 £ 0	Total Funds 2021 £ 33,758	Total Funds 2020 £ 0
33,758 2,000 7,715 15,446	0 0 0 0	33,758 2,000 7,715 15,446	0 0 0 0
25,161 0	0 0	25,161 0	0 0
8,597 0	0 0	8,597 0	0 0
8,597 0	0 0	8,597 0	0 0
8,597 4,443	0 0	8,597 4,443	0 4,443
13,039	0	13,039	4,443

RCCG Praise Chapel CIO BALANCE SHEET

as at 14 September 2021

Notes Fixed assets Tangible assets 10 Current Assets Debtors 11 Cash at bank and in hand Net Current Assets Creditor: Amounts falling due within one year Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Restricted income funds Unrestricted funds 12 General funds Reserves 12 Total funds	2021 £ 0 0 0 16,889 16,889 16,889 (3,850) 13,039 13,039 13,039 0 0 13,039 13,039 13,039	2020 £ 0
		0 0 9,693
		9,693
		9,693 (5,250) 4,443
		4,443
		4,443
		0
		0 4,443
		4,443
		4,443

The financial statements on pages 3 to 15 were approved by the Trustees on 25 July 2022 and were signed on its behalf by:

Irikefe Chapell NATUFE Chair of Trustees

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

for the year ended 14 September 2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts inaccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)(effective1 January 2015) -(Charities SORP(FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies(valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Fund accounting
Unrestricted funds	These are available for use at the discretion of the trustees in furtherance of the
	general objects of the charity.
Designated funds	These are unrestricted funds earmarked by the trustees for particular purposes.
Revaluationfunds	These are unrestricted funds which include are valuation reservere presenting the
	restatement of investment assets at their market values.
Income
Recognitionof incom	Income is included in the Statement of Financial Activities (SoFA)when the charity
	becomes entitled to,and virtually certain to receive,the income and the amount of
	income can be measured with sufficient reliability.
Income with	Where income has related expenditure the income and related expenditure is reported
related expenditure	gross in the SoFA.
Donations and	Voluntary income received by way of grants,donations and gifts is included in the SOFA
Legacies	when receivable and only when the Charity has unconditional entitlement to the income.
Volunteer help	The value of any volunteer help received is not included in the accounts.
Investment income	This is included in the accounts when receivable.
Gains/(losses)on	This includes any gain or loss resulting from revaluing investments to market value at
revaluation of fixed	the end of the year.
assets
Gains/(losses) on	This includes any gain or loss on th esale of investments.
investment assets

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

Expenditure

Recognition of Expenditure is recognised on anaccruals basis.Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to whch it relates. Expenditure on These comprise the costs associated with attracting voluntary income,fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of it sactivities and charitable activities services in the furtherance of its objects,including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrualf for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutionaland statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation The charity is exempt from corporation tax on its charitable activities.

Intangible fixed assets and amortisation

Intangible fixed assets(including purchase dgoodwill,patents and trademarks) are carried at cost less accumulated amortisation and impairement losses.

Stocks

Stock is included at the lower of cost or net realisable value.Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand,demand deposits with banks and other short-term highly liquid investments with original maturties of three months or less and bank overdrafts. In the statement of financial position,bank overdrafts are shown within borrowings or current liabilities. In the Statement of CashFlows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demandand form an integral part of the company's cash management.

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

Trade and other creditors

Short term creditors are measured at the transaction price.Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charityare translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of charity are recorded at the rate of exchange on the date that the transaction occurred.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation.

Lease payments are apportioned between finance expenses and the reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balancy of liability. Finance expenses are recognised immediately, unless they are directly attributableto qualifying assets, in which case they are capitalised in accordance with the charity's spolicy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, suchi ncentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been the company has no further payments obligations. The contributions are recognised as expenses when they fall due.Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held seperately from the company in independently administered funds.

2. Company status

The CIO is a registered Charity organisation and consequently does not have share Capital.

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

3 Statement of Financial Activities-prior year

Unrestricted funds Restricted funds 2020 2020 £ £ Income and endowments from: Donations and Legacies 0 0 Total 0 0 Expenditure on: Raising funds 0 0 Charitable activities 0 0 Other 0 0 Total 0 0 Net expenditure 0 0 Transfer between funds 0 0 Net Income before other gains/(losses): 0 0 Other gains and losses: 0 0 Net movement in funds: 0 0 Reconciliation of funds: Total funds brought forward 0 0 Total funds carried forward 0 0 4 Income from donations and legacies Unrestricted funds Total 2021 £ £ 33,758 33,758 33,758 33,758 5 Expenditre on raising funds Total 2021 £ Costs of generating voluntary income 2,000 2,000	Total funds 2020 £ 0
	0 0 0 0
	0

	0 0
	0 0
	0 0
	0
	Total 2020 £ 0
	0
	Total 2021 £ 2,000
	2,000

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

6 Expenditure on charitable activities

Unrestricted fuds £ Expenditure on charitable activities 7,715 Governance costs 0 7,715 7 Other expenditure Unrestricted funds £ Employee costs 0 Motor and travel costs 55 Premises costs 978 Amortisation, depreciation, 0 impairment, profit/loss on 0 disposal of fixed assets 0 General administrative costs 10,582 Legal and professional costs 2,850 14,465 8 Net (expenditure)/income before transfers 2021 This is stated after charging: £ Depreciation of owned fixed assets 0 9 Staff costs 2021 Salaries and wages 2,981 Social security costs 0 2,981	Total 2021 £ 7,715 0 7,715 Total 2021 £ 0 55 978 0 0 0 10,582 2,850 14,465	Total 2020 £ 0 0
		0
		Total 2020 £ 0 0 0 0 0 0 0 0
		0
		2020 £
		0
		2020 0 0
		0

No employee received emoluments in excess of £60,000.

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

10 Tangible fixed assets Cost or revaluation Additions at 14 September 2021 Depreciation and impairement At 1 November 2020 Depreciation charge for the year At 14 September 2021 Net book values At 14 September 2021 At 31 October 2020 11 Debtors Trade debtors 12 Movement in funds At 1 Novembe r 2020 £ Restricted funds: Restricted income funds: 0 Total 0 Unrestricted funds: General funds 4,443 4,443	TFA 2 £ 0 0 0 0 0 0 0 Incoming resources (including other gains/losse s) £ 0 0 33,758 33,758	TFA3 £ 0 0 0 0 0 0 0 2021 £ 0 0 Resource s Expended £ 0 0 25,161 25,161	Investment £ 0 0 0 0 0 0 0 Gross Transfers £ 0 0 0 0	Total £ 0
				0
				0 0
				0
				0
				0
				2020 £ 0
				0
				At 14 Septembe r 2021 £ 0
				0
				13,039
				13,039

RCCG Praise Chapel CIO NOTES TO THE ACCOUNTS

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Unrestricted funds £ Fixed assets 0 Net current assets 0 0	Total £ 0 0
	0

14 Related party disclosures

Creditor include amount owed to a trustee as at the year end totalling £3,000

RCCG Praise Chapel CIO DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 14 September 2021

	Unrestricted funds	Total funds	Total funds
	2021	2021	2020
	£	£	£
Income and endowments from:
Donations and Legacies	23,758	23,758	0
Grants	10,000	10,000
	33,758	33,758	0
Total income and endownments	33,758	33,758	0
Expenditure on:
Costs of generating donations and
legacies	0	0	0
	0	0	0
Total of expenditure on raising funds	0	0	0
Charitable activities	7,715	7,715	0
	7,715	7,715	0
Total of expenditure on charitable activities	7,715	7,715	0
Other expenditure	0	0	0
	0	0	0
Employee costs
Salaries/wages	2,981	2,981	0
Employer's NIC	0	0	0
	2,981	2,981	0
Motor and travel costs
Vehicles-General costs	0	0	0
Vehicles-Fuel	55	55	0
Vehicles-Insurance and licences	0	0	0
Vehicles-Repairs and maintenance	0	0	0
Travel and subsistence	0	0	0
	55	55	0
Premises costs
Rent	978	978	0
	978	978	0

RCCG Praise Chapel CIO DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 14 September 2021

General administrative costs, including depreciation and amortisation Bank charges Equiment expensed Software, IT support and related costs Stationery and printing Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investment Net(expenditure)/income Transfers between funds Net(expenditure)/income before other gains/(losses) Other Gains Net movement in funds	0 0 9,714 505 234 130 10,582 2,000 850 2,850 19,446 25,161 0 8,597 0 8,597 0 8,597	0 0 9,714 505 234 130 10,582 2,000 850 2,850 19,446 25,161 0 8,597 0 8,597 0 8,597	0 0 0 0 0 0 0
			0
			0 0
			0

			0
			0 0
			0 0
			0 0
			0