Registered Charity number 1198010
RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP
Report and Accounts
31 December 2022
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Report and accounts Contents**
||**Page**|
|---|---|
||1|
||2|
|Independent Examiners Report|3|
|Statement of Financial Activities|4|
|Balance sheet|5|
|Notes to the Financial Statements|6 - 8|
|(inclusive of detailed Income & Expenditure)||
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP LEGAL AND ADMINISTRATIVE**
Year ended 31 December 2022
## **Trustees;**
PASTOR HENRY OBASANYA IYERE TREASURE LADITI BOLA OLUSOLA
## **Register Charity Number ; 1198010**
Business Address HURST COMMUNITY CETRE HURST PLACE HURST ROAD DA5 3LH
**Independent Examiner AJIBOLA LEMO (FCCA, Msc)** LEMO CORPORATE Chartered Certified Accountants 815 OLD KENT ROAD LONDON SE15 1NX
1
**RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Trustees' Report**
## **Year ended 31 December 2022**
The Trustees present their report and the financial statements for the year ended 31 December 2022 The financial statements have been prepared in accordance with the accounting policies set out on page6 and comply with the statement of Recommended Practice (SORP 2015) and applicable law.
## OBJECTIVES
a. Advancement of the Christian Faith in the United Kingdom and abroad
b. The relief of persons who are in conditions of need, hardship or distress or who are aged or sick in the United Kingdom and abroad.
The principal activities of the Charity are worship and the involvement of various ministries and ministers of religion, propagating Christian tenets to both members and non-members of the ministry at various meetings.
To achieve these objectives, the trustees appointed the Board of Ministers. The ministry is invovled in Christian Outreach Programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.
## **The trustees who serve during the year were;**
PASTOR HENRY OBASANYA IYERE TREASURE LADITI BOLA OLUSOLA
## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
Due consideration is given to what is needed to make the Board and commitee as effective as can be. Also care is taken to ensure the board has the right mix of skills and experience to discharge its duties and ensure effective governance and management. Trustees serve a term of two years which is renewable at the discretion of the Board; however, in exceptional cases Trustee may be asked to stay on for more than four years.
## **TRUSTEES' RESPONSIBILITIES**
Charity Law requires the trustees to prepare financial statements for each fianacial year which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended for that year. In preparing those financial statements the trustees are required to;
●select suitable accounting policies and apply them consistently,
●make judgement and estimates that are reasonable and prudent,
●prepare the financial statements on the going concern basis unless it is appropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud.
## **RISK MANANGEMENT**
Trustees take seriously their responsibility to assess and manage the major risks that the charity faces and review them regulaly. A formal risk management process is in place to ensure risks are identified and appropraite mitigation actions are taken- this is captured in our Risk Management Policy.
2
## **FINANCIAL REVIEW**
## **a. RESERVE POLICY**
RCCG The king's Borough Christian Fellowship unrestricted reserves comprise the general fund which can be spent purpose of the charity and are avilable to meet future demands on the charity's resources. The trustees have determined that it would be prudent to maintain three months of expenditure to meet core expenses of the church.
## **b. PRINCIPAL FUNDING**
Individual donations and gifts continue to be the main source of income, including Gift aids credits.
## **STATEMENT OF PUBLIC BENEFIT**
In line with requirements of the Charities Commission under the Charity Act 2011 for charities to demonstrate that their aims are for public benefit, the Board of Trustees of RCCG The KBCF are confident that our aims fully meet the public benefit test that all the activities of the charity described in the report, are undertaken in pursuit of our mandate which by implication seeks to:
a) help people live a life free from fear and anxiety, allowing them to prosper in mind, body and spririt b) Improve overall well being and every life of each person
c) motivate, teach, councel and coach people to attain success in their career, family life, marriage and personal life
d) support the less privileged and needy through gifts in kind and where appropriate financial assistance; and
e) give financial support to other charities that share our values and aims as well as respond to social needs
This report was approved by the Board of Trustees on -30 October 2023 and was signed on their behalf by:
----------------------------------------------------
PASTOR HENRY OBASANYA
3
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP INDEPENDENT EXAMINER'S REPORT**
I report on the charity for the year ended 31 December 2022, which are set set out on pages 4 to 5.
## Respective resposibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's 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. [The charity's gross income is £28,948 and I am qualified to undertake the examination by been a qualified member of Association of Chartered Certfied Accountants.
It is my responsisblity to:
- . examine the accounts under section 145 of the 2011 Act;
- . to follow the procedure laid down in the General Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act; and;
.to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity
comparison of the accounts presented with those records. It also includes consideration of any unusua items or disclosures in the accounts, and the seeking of explanations from you as trustee concerning any such matters. The procedure undertaken do not provide all the evidence that would be required in an audit and, consequetly 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 examiner's 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:
. to keep accounting records in accordance with section 130 of the 2011 Act; and
. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met.
or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
AJIBOLA LEMO (FCCA, Msc) LEMO CORPORATE Chartered Certified Accountants
815 OLD KENT ROAD LONDON
4
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Profit and Loss Account for the year ended 31 December 2022**
|**Notes**
**Turnover**
**Gross profit**
Distribution costs
Administrative expenses
**Operating profit**
2
**Profit on ordinary activities before taxation**
**Profit for the financial year**|**2022**
**£**
28,948
(13,018)|
|---|---|
||15,930
(1,825)
(11,865)|
||2,240|
||2,240|
||2,240|
5
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP**
## **Statement of Financial Activities For the year ended 31 December 2022**
|Tithes, offering and thanksgiving
**Total Income Resources**
**Resources Expended**
Support costs of activities in
furtherance of the charity's objects
Management & Administration
of Charity
**Total Income Expended**
**Net incoming/(outgoing) resources**
**Net Movements in Funds**
**Fund balances b/fwd**
**Funds balances c/fwd**|Unrestricted
**Notes**
£
8.1
28,948
28,948
8.2
22,447
8.3
4,261
**26,708**
**2,240**
**2,240**
**-**
**2,240**|Restricted
£
-
-
-
**-**
**-**
**-**
**-**
**-**|**2022**
**Total**
**Fund**
**£**
28,948|
|---|---|---|---|
||8.1
8.2
8.3|||
||||**28,948**|
||||22,447
4,261|
||||**26,708**|
||||**2,240**|
||||**2,240**
**-**|
||||**2,240**|
6
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Balance Sheet as at 31 December 2022**
||**Notes**||**2022**|
|---|---|---|---|
||||**£**|
|**Fixed assets**||||
|Tangible assets|3||2,640|
|**Creditors: amounts falling due**||||
|**within one year**|4|(400)||
|**Net current liabilities**|||(400)|
|**Net assets**|||2,240|
|**Unrestricted Funds**||||
|Unrestricted Funds|6||2,240|
|**Restricted and Unrestricted Funds c/fwd.**|||2,240|
PASTOR HENRY OBASANYA Approved by board of Trustees
-
7
**RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Notes to the Accounts for the year ended 31 December 2022**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
## **Incoming Resources**
Income is mainly from tithes and offerings received are included in the financial statements when received.
## **Resources Expended**
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.
## **Taxation**
As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.
## _**Depreciation**_
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment, furniture & fittings 25% Straight line Motor vehicles 25% Straight line
## **2 Operating profit £**
This is stated after charging: Depreciation of owned fixed assets 660
- **3 Tangible fixed assets**
|**Cost**
Additions
At 31 December 2022
**Depreciation**
Charge for the year
At 31 December 2022
**Net book value**
At 31 December 2022|**Plant and**
**machinery**
**etc**
**£**
1,300
1,300
260
260
1,040|**Motor**
**vehicles**
**Total**
**£**
**£**
2,000
3,300
2,000
3,300
400
660
400
660
1,600
2,640|
|---|---|---|
- **4 Creditors: amounts falling due within one year**
**£**
Trade creditors
400
8
**RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Notes to the Accounts for the year ended 31 December 2022**
|**6**
**Restricted Funds**
At 1 January 2022
Net Incoming Fund
At 31 December 2022|**Unrestricted**
-
2,240
2,240|**Restricted**
**£**
-
-
-
2,240
-
2,240|
|---|---|---|
9
**RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Notes to the accounts (continued)**
## 8 **Income and Expenditure Account For the year ended 31 December 2021**
|Past**INCOMING RESOURCES**
Tithes, offering and thanksgiving
**Total Incoming Resources**
**OUTGOING RESOURCES**
8.2 **Support costs of activities in**
**furtherance of the Charity's objects:**
Honourarium
Welfare Support
Retreat and Missionary
Event Services
Books and Periodicals
Evangelical/outreach materials
8.3 **Management and Administration**
**of Charity:**
Rent & rates
Cleaning
Telephone
Hospitality
Audit fees
Insurance
Stationery and Printing
Depreciation charge|**UnrestrictedRestricted**
**Total**
**Fund**
**£**
**£**
**£**
28,948
28,948
28,948
-
**28,948**|
|---|---|
||761
761
5,468
5,468
13,018
13,018
1,825
1,825
775
775
600
600|
||**22,447**
**-**
**22,447**|
||1,418
1,418
153
153
314
314
772
772
400
400
248
248
296
-
296
660
660|
||**4,261**
**-**
**4,261**|
10
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Profit and Loss Account for the year ended 31 December 2022**
_for the information of the directors only_
|**Income**
Cost of sales
**Gross profit**
Distribution costs
Administrative expenses
**Operating profit**
**Profit before tax**|**2022**
**£**
28,948
(13,018)|
|---|---|
||15,930
(1,825)
(11,865)|
||2,240|
||2,240|
ADELANI AWE (FCCA, Msc)
11
## **RCCG THE KING'S BOROUGH CHRISTIAN FELLOWSHIP Schedule to the Profit and Loss Account for the year ended 31 December 2022**
_for the information of the directors only_
|**Schedule to the Profit and Loss Account**
**for the year ended 31 December 2022**
_for the information of the directors only_||
|---|---|
|**Income**
Tithes, offerings & thanksgiving
**Cost of sales**
Purchases
Retreat and Missionary
**Distribution costs**
Event Services
**Administrative expenses**
Employee costs:
Honourarium
Welfare Support
Premises costs:
Rent
Books and Periodicals
Cleaning
General administrative expenses:
Telephone and fax
Stationery, books and printing
Evangelical materials
Insurance
AD Depreciation
Legal and professional costs:
Accountancy fees|**2022**
**£**
28,948|
||-
13,018|
||13,018
1,825
761
5,468|
||7,001|
||1,418
775
153|
||2,346|
||314
296
600
248
660|
||2,118|
||400|
||400|
|||
||11,865|
12