## **RHENISH CHURCH (UNITED KINGDOM) LIMITED**
(Registered Charity no. 292174) (Company limited by guarantee no. 1867605)
## REPORT AND ACCOUNTS
YEAR ENDED SEPTEMBER 30, 2023
CONTENTS Report of the Governors Page 1-2 Independent examiner’s report Page 3 Statement of financial activities Page 4 Balance sheet Page 5 Notes to the accounts Page 6-9
LEGAL AND ADMINISTRATIVE DETAILS
RHENISH CHURCH (UNITED KINGDOM) LIMITED is registered as a company limited by guarantee (without share capital) no. 1867605 and as a charity no.292174; its governing instrument is its memorandum and articles of association. Every member of the Charity undertakes to contribute to its assets in the event of it being wound up while s/he is a member such amount as may be required not exceeding £1.
Details of the Charity’s objects and the Governors are given on page 1.
Registered office: 2 Manor Farm Road, Alperton, Middlesex HA0 1AD
Pastor: Cheuk Hei Titus Lam (from 01 Nov 2022)
Chair: Tung Yuen Chan Bankers: CafCash Ltd, Kings Hill, West Malling, Kent ME19 4TA
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED REPORT OF THE GOVERNORS**
## **Page 1**
The Board of Governors (which is the Board of Directors for company law purposes) presents its report and accounts for the year ended September 30, 2023.
## OBJECTIVES AND ACTIVITIES
The objects of the Charity consist of the advancement of the Christian religion and for the relief of poverty and sickness by making financial donations to not-for-profit organisations that help people in need, in particular of victims of disaster.
Activities of the Church are held every Sunday afternoon at the church premises of the Covenant Church, situated at Orange Street, London, WC2. They include Sunday service, Church choir, and fellowship meetings.
The Church did not fundraise from the public.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The Governors (who are the Directors for company law purposes), who served throughout the year except where stated otherwise, were Tung Yuen Chan, Yim Ping Lau, Yuet Lin Chan (appointed on 09 Jul 2023), David Kam Wing Yip (appointed on 01 Feb 2023 and resigned on 14 May 2023), Han Wah Yu (appointed on 01 Feb 2023 and resigned on 14 May 2023), Foong Lan Yap (resigned on 12 Mar 2023), Cheung Tat Ngan (resigned on 11 Dec 2022).
The government document of the Charity is the memorandum of association and articles of association. The dayto-day management of the Charity is undertaken by our Pastor who reports to the Board of Governors which responsible for the overall management of it.
The Governors are elected to serve for a period of two years after which they must be re-elected at the next Annual General Meeting (AGM) and then the officers are appointed from Governors. All members of the congregation are encouraged to stand for election to the Governors Committee.
The Board meets at least once a month. The AGM is held in the winter.
## VOLUNTARY HELP AND DONATIONS IN KIND
The Governors and other members of the Charity continued to provide their services free.
## GOVERNORS AND THEIR INTERESTS
The Charity has no issued share capital or debentures and hence there are no directors’ interests requiring disclosure under the Companies Act 2006.
## ACHIEVEMENTS AND PERFORMANCE
Our church letter is distributed monthly to all members. The letter keeps our members informed of the important matters affecting our Church and articles that help develop our knowledge and trust in Jesus. Helping those in need is a demonstration of our faith.
## PUBLIC BENEFIT
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. The Trustees review the activities of the charity against its aims on an ongoing basis and are satisfied that all activities continue to be related to the aims which are set in such a way as to benefit society as a whole.
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED REPORT OF THE GOVERNORS FOR THE YEAR ENDED SEPTEMBER 30, 2023**
## **Page 2**
(Continued)
## FINANCIAL REVIEW
During the year the Charity made a donation of £500 for an emergency care to a church member in need.
The Governors consider that the Charity’s financial position at the year-end was satisfactory.
The Governors have agreed to maintain a minimum level of free reserves equivalent to 9 months’ expenditure which within the current budget period equated to £36,360. The Charity’s unrestricted fund (excluding designated fund) at the end of September 2023 equated to £102,316 which represented a surplus of the £65,956. The designated fund of £42,569 represented the amounts tied up to the fixed assets £38,069 and Emergency fund (Caring) £4,500. And the restricted fund £278 was specified for Emergency fund (Caring).
## PREPARATION OF THE REPORT
In preparing the above report the Governors have taken advantage of the special exemptions applicable to small companies conferred by Section 415A of the Companies Act 2006.
BY ORDER OF THE BOARD OF GOVERNORS
……………………………………………Tung Yuen Chan Governor
Date: 26[th] November, 2023
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED**
## **Page 3**
INDEPENDENT EXAMINERS REPORT TO THE GOVERNING BODY 0F RHENISH CHURCH (UNITED
KINGDOM) LIMITED
I report on the accounts of the charity for the year ended 30 September 2023 which are set out on pages 4 to 9.
This report is made solely to the charity's Governing Body, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Governing Body those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Governing Body as a body, for my work, for this report, or for the opinions I have formed.
## **RESPECTIVE RESPONSIBILITIES OF GOVERNING BODY AND EXAMINER**
The charity's Governing Body are responsible for the preparation of the accounts, and they consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act; and
- 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 Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Governing Body 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 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 386 of the Companies Act 2006; and
- to prepare financial statements which accord with the accounting records and comply with the
- accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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.
Signed:
**Date:**
Steven Bluestone FCA Independent Examiner
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED Page 4 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2023**
|
**STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED SEPTEMBER 30, 2023**|
|
|---|---|
|**INCOME AND EXPENDITURE**
**_INCOME FROM_**
Donations and legacies
Donations received
Investments:
Interest received
Rental income
**TOTAL INCOME**
**_EXPENDITURE ON_**
Charitable activities:
Salaries
Pension contribution
Letting agent fee
Rent and rates
Travelling expenses
Donations
Printing, postage and stationery
Insurance
Light , Heat, Church centre repair & maintenance
Refreshment
Depreciation
Independent examiner fees
Church retreat, Conference and social events
Sundry expenses
**TOTAL EXPENDITURE**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
BALANCES AT THE START OF THE YEAR
**BALANCES AT THE END OF THE YEAR**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2023**
**2022**|
||**£**
**£**
**£**
**£**
25,891
-
25,891
25,340
1,135
-
1,135
157
22,800
-
22,800
18,335|
||**49,826**
**-**
**49,826**
**43,832**|
||23,134
-
23,134
18,913
400
-
400
423
2,714
-
2,714
2,779
3,780
-
3,780
5,794
3,113
-
3,113
6,280
500
-
500
1,412
182
-
182
154
702
-
702
761
246
-
246
1,094
376
-
376
170
2,058
-
2,058
2,058
170
-
170
170
1,555
-
1,555
380
608
-
608
899|
||**39,538**
**-**
**39,538**
**41,287**|
||**10,288**
**-**
**10,288**
**2,545**
**134,597**
**278**
**134,875**
**132,330**|
||**144,885**
**278**
**145,163**
**134,875**|
_The annexed notes form part of the accounts._
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED (Company number 1867605)**
## **Page 5**
|**Balance sheet as at 30 September 2023**
**FIXED ASSETS - Tangible Assets**
**CURRENT ASSETS**
Debtors and prepayments
Cash at Bank
**CREDITORS FALLING DUE WITHIN 1 YEAR**
Creditors and accruals
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**FUNDS**
**UNRESTRICTED FUNDS**
Designated fund
General fund
**RESTRICTED FUNDS**
**Emergency fund (Caring)**
**TOTAL FUNDS**|**Notes**|**2023**
**2022**|
|---|---|---|
||**4**
**5**
6|**£**
**£**
**38,069**
**40,127**|
|||5,967
4,258
103,809
90,947|
|||109,776
95,205
(2,682)
(457)|
|||**107,094**
**94,748**|
|||**145,163**
**134,875**|
|||42,569
45,127
102,316
89,470|
|||144,885
134,597
278
278|
|||278
278|
|||**145,163**
**134,875**|
The Governors (who are the directors of the Charity for Companies Acts purposes) consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Governors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as 30 September 2023 and of its surplus for the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements were approved and authorised for issue by the Governors on 26th November, 2023 and signed on their behalf, by:
…………………………………………… Tung Yuen Chan
Governor
The annexed notes form part of these accounts
**RHENISH CHURCH (UNITED KINGDOM) LIMITED NOTES TO THE ACCOUNTS AT SEPTEMBER 30, 2023**
**Page 6**
## **1. ACCOUNTING POLICIES**
- The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of financial statements is as follows:
## **a. Basis of Accounting**
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 to 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) and the Companies Act 2006.
The Charity 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 note(s).
## **b. Preparation of the accounts on a going concern basis**
- Having considered future budgets and cash flows, the trustees confirm that they have no material uncertainties about the entity’s ability to continue as a going concern for the foreseeable future.
## **c. Fixed assets**
Expenditure on fixed assets is capitalised where the cost (or the value if donated) is in excess of £100; otherwise it is written off through the Statement of Financial Activities. Costs of replacements of major equipment and pianos are charged to designated funds set aside for that purpose by appropriations from Revenue.
Tangible fixed assets are depreciated at rates calculated to write off the cost, less estimated residual value of each asset evenly over its expected life, as follows: -
- Freehold Building 50 years - Fixture and Fittings 4 years - Office Equipment 5 years
## **d. Funds**
The different funds are defined as follows:
Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.
Unrestricted funds are those funds available to the charity for its general purposes. They include funds designated (Note 5) by the trustees for particular purposes where their use remains at the discretion of the trustees. Amounts may be set aside each year on the basis of expected requirements for major repairs to premises, replacement of major equipment and emergency fund (caring). Transfers are made from General to Designated Funds and the cost of the repairs, replacements or emergency fund are charged against the funds as they arise.
It is the policy of the trustees to retain in unrestricted funds, amounts which in their judgement, can help to mitigate the short-term effects of income volatility and retain funds to generate sufficient income to meet current and future operational activities of the charity.
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED NOTES TO THE ACCOUNTS AT SEPTEMBER 30, 2023**
## **Page 7**
## **e. Income recognition**
This comprises donations and investment income. 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 income can be measured reliably.
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until those conditions are fully met, or the fulfillment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Legacies are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably reliably measureable with a degree of reasonable accuracy with the title of the asset having been transferred to the charity.
Investment income is credited to income when it is receivable, and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **f. Expenditure**
Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of obligation can be measured reliably.
Expenditure is recognised on an accruals basis as a liability is incurred, inclusive of VAT, which cannot be recovered.
Charitable activities comprise mainly of staff costs, premises and administrative costs.
## **g. 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 discounts due.
## **h. Cash at bank and in hand**
Cash at bank and in hand includes bank accounts, cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **i. Creditors and provisions**
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 discounts due.
## **j. VAT**
The charity is not registered for VAT but is unable to reclaim all of the input tax incurred. Irrecoverable VAT is charged to the expenditure heading for which it was incurred.
**Page 8**
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED NOTES TO THE ACCOUNTS AT SEPTEMBER 30, 2023**
## **k. Pension Scheme**
The Charity contributes a percentage of salary to a NEST pension scheme.
- **l. Estimation uncertainty**
- In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
- **m. Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2. TAXATION**
As a registered charity no taxation liability arises on the results for the year.
## **3. GOVERNORS REMUNERATION AND STAFF**
The Charity’s key management personnel are its governors who are unremunerated (2022 – the same). The Charity employed a full-time pastor and a part time administrator. No trustees were reimbursed expenses in the year (2022 – £nil). All the salary payments (shown on page 4) are gross salary and there were no social security costs due.
Average staff numbers were 2 (2022 – the same). No employees earned over £60,000 in the year (2022– none).
## **4. TANGIBLE FIXED ASSETS**
|COST
At the start of the year
Additions during the year
Disposals in the year
At the end of the year
DEPRECIATION
At the start of the year
Charged during the year
Released at disposals
At the end of the year
NET BOOK VALUE
At the start of the year
At the end of the year|Freehold
Furniture
Office
Total
Building
& Fittings
Equipment|
|---|---|
||£
£
£
£
80,250
3,539
5,084
88,873
-
-
-
-
-
-
-
-|
||80,250
3,539
5,084
88,873|
||41,452
3,539
3,755
48,746
1,605
-
453
2,058
-
-
-
-|
||43,057
3,539
4,208
50,804|
||38,798
-
1,329
40,127|
||37,193
-
876
38,069|
## **RHENISH CHURCH (UNITED KINGDOM) LIMITED NOTES TO THE ACCOUNTS AT SEPTEMBER 30, 2023 (Continued)**
## **Page 9**
## **5. UNRESTRICTED FUNDS: MOVEMENTS IN THE YEAR**
|Designated funds:
Tangible Fixed assets
Emergency fund (Caring)
General fund
Designated funds:
Tangible Fixed assets
Emergency fund (Caring)
General fund|Bal
Mov't in year
ended 30
September 2023
Bal
b/f
incoming
outgoing
Transfers
c/f
40,127
-
-
(2,058)
38,069
5,000
-
(500)
4,500|
|---|---|
||45,127
-
(500)
(2,058)
42,569
89,470
49,826
(39,038)
2,058
102,316|
||134,597
49,826
(39,538)
-
144,885|
||Bal
Mov't in year
ended 30
September 2022
Bal
b/f
incoming
outgoing
Transfers
c/f
42,185
-
-
(2,058)
40,127
5,000
-
-
5,000|
||47,185
-
-
(2,058)
45,127
84,867
43,832
(41,287)
2,058
89,470|
||132,052
43,832
(41,287)
-
134,597|
## **6. Restricted Funds:**
|Restricted funds:
Emergency fund (Caring)
Church centre renovation|Bal
Mov't in year ended
30 September 2023
Bal
b/f
incoming
outgoing
Transfers
c/f
278.00
-
-
-
278.00
-
-
-
-
-|
|---|---|
||278.00
-
-
-
278.00|