REGISTERED CHARITY NUMBER: 1204041
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
RIVERS OF LIFE COMMUNITY CHURCH
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
RIVERS OF LIFE COMMUNITY CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
RIVERS OF LIFE COMMUNITY CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
The principal purposes of the charity are:
-The advancement of the Christian faith according to the principles of the Baptist denomination.
-The advancement of education and to carry out other charitable purposes in the United Kingdom and/or other parts of the world.
Public benefit
The trustees have referred to the guidance in the Charity Commission general guidance on public benefit when reviewing the aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
ACHIEVEMENT AND PERFORMANCE
The Charity was registered on 20 July 2023, and was converted into a Charitable Incorporated Organisation (CIO) on 2 October 2024.
Prior to this, the entity was a private company, limited by guarantee registered in England and Wales (registered company number 03709626.)
The main activities of the church are firstly for the congregants, such as Sunday morning worship, Wednesday Bible study and monthly Saturday prayer meeting. This enables us to support the community to open the church for a monthly Saturday coffee morning. We also had a joint community event with the Salvation Army where we held a Cream Tea event to commemorate the King's Coronation.
Additionally, we support some of the most vulnerable people in Ashford, by buying food from ASDA, assembling the food into food parcels and delivering them directly to individuals or families, in Ashford.
FINANCIAL REVIEW
Reserves policy
The charity's total unrestricted funds at 31 March 2024 were £15,080 (2023 £16,161). This figure includes a designated fund of £5,588 (2023 £12,588) for the upkeep and outgoings for the building used by the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its constitution, which was last amended on 10 April 2022.
Induction and training of new trustees
New trustees will receive on or before his or her first appointment:
-
a copy of the constitution and any amendments made to it:
-
a copy of the Church's latest trustees' annual report and statement of accounts; and
-
a summary of key issues that have recently been under consideration by the Charity Trustees with sufficient background information to enable the newly appointed Charity Trustee to gain an understanding of the ways of working among the Charity Trustees with the intention that they will be helped to understand the work of the Church and their responsibilities so as to contribute positively to Charity Trustees meetings as soon as possible after their appointment.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1204041
Page 1
RIVERS OF LIFE COMMUNITY CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Principal address 42 Cudworth Road Willesborough ASHFORD Kent TN24 0BG
Trustees
M P Lowden Mrs S D Lowden Ms T T Wilson
Approved by order of the board of trustees on 26 November 2024 and signed on its behalf by:
M P Lowden - Trustee
Page 2
RIVERS OF LIFE COMMUNITY CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 14,830 Investment income 3 96 Total 14,926 EXPENDITURE ON Charitable activities 4 Community church activities 16,007 NET INCOME/(EXPENDITURE) (1,081) RECONCILIATION OF FUNDS Total funds brought forward 16,161 TOTAL FUNDS CARRIED FORWARD 15,080 |
2023 Total funds £ 16,205 19 16,224 17,760 (1,536) 17,697 16,161 |
|---|---|
The notes form part of these financial statements
Page 3
RIVERS OF LIFE COMMUNITY CHURCH
BALANCE SHEET 31 MARCH 2024
| 2024 Unrestricted funds Notes £ CURRENT ASSETS Prepayments and accrued income 5,250 Cash at bank 10,670 15,920 CREDITORS Amounts falling due within one year 7 (840) NET CURRENT ASSETS 15,080 TOTAL ASSETS LESS CURRENT LIABILITIES 15,080 NET ASSETS 15,080 FUNDS 9 Unrestricted funds 15,080 TOTAL FUNDS 15,080 |
2023 Total funds £ - 16,161 |
|---|---|
| 16,161 - |
|
| 16,161 | |
| 16,161 | |
| 16,161 | |
| 16,161 | |
| 16,161 |
The financial statements were approved by the Board of Trustees and authorised for issue on 26 November 2024 and were signed on its behalf by:
M P Lowden - Trustee
The notes form part of these financial statements
Page 4
RIVERS OF LIFE COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Rivers of Life Community Church is a CIO registered in England / Wales. The charity's principal address is given in the charity information on page 2 of these financial statements.
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
No amounts are included in the financial statements for the services donated by volunteers.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 5
continued...
RIVERS OF LIFE COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
2. DONATIONS AND LEGACIES
| Weekly offerings Covenanted offerings Donations received 3. INVESTMENT INCOME Deposit account interest 4. CHARITABLE ACTIVITIES COSTS Direct Costs £ Community church activities 13,554 |
2024 £ 1,386 12,944 500 14,830 2024 £ 96 Support costs £ 2,453 |
2023 £ 585 15,620 - |
|---|---|---|
| 16,205 | ||
| 2023 £ 19 Totals £ 16,007 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
During the year expenses totalling £5,490 were reimbursed to the 3 trustees.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 16,205 |
| Investment income | 19 |
| Total | 16,224 |
| EXPENDITURE ON | |
| Charitable activities | |
| Community church activities | 17,760 |
| NET INCOME/(EXPENDITURE) | (1,536) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 17,697 |
| TOTAL FUNDS CARRIED FORWARD | 16,161 |
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continued...
RIVERS OF LIFE COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Sundry creditors | 840 | - | ||
| LEASING AGREEMENTS | ||||
| Minimum lease payments under non-cancellable operating leases fall due as | follows: | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Within one year | 7,000 | 7,000 | ||
| Between one and five years | 5,250 | 12,250 | ||
| 12,250 | 19,250 | |||
| MOVEMENT IN FUNDS | ||||
| Net | ||||
| movement | At | |||
| At 1.4.23 | in funds | 31.3.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 3,573 | 5,919 | 9,492 | |
| Building Fund | 12,588 | (7,000) | 5,588 | |
| 16,161 | (1,081) | 15,080 | ||
| TOTAL FUNDS | 16,161 | (1,081) | 15,080 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 14,926 | (9,007) | 5,919 | |
| Building Fund | - | (7,000) | (7,000) | |
| 14,926 | (16,007) | (1,081) | ||
| TOTAL FUNDS | 14,926 | (16,007) | (1,081) |
8. LEASING AGREEMENTS
9. MOVEMENT IN FUNDS
continued...
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RIVERS OF LIFE COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.4.22 | in funds | 31.3.23 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 5,109 |
(1,536) | 3,573 |
| Building Fund 12,588 |
- | 12,588 |
| 17,697 | (1,536) | 16,161 |
| TOTAL FUNDS 17,697 |
(1,536) | 16,161 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 16,224 |
(17,760) | (1,536) |
| TOTAL FUNDS 16,224 |
(17,760) | (1,536) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.22 | in funds | 31.3.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,109 | 4,383 | 9,492 |
| Building Fund | 12,588 | (7,000) | 5,588 |
| 17,697 | (2,617) | 15,080 | |
| TOTAL FUNDS | 17,697 | (2,617) | 15,080 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,150 | (26,767) | 4,383 |
| Building Fund | - | (7,000) | (7,000) |
| 31,150 | (33,767) | (2,617) | |
| TOTAL FUNDS | 31,150 | (33,767) | (2,617) |
continued...
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RIVERS OF LIFE COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. MOVEMENT IN FUNDS - continued
The building fund is for the upkeep and outgoings for the building used by the charity.
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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