Company Registration Number: N1649713 Charity Number: 108699 R8 Church IA company Ilmlted by guarantee. not having a share capital) Annual Report and Unaudited Financial Ststements for the financial year ended 31 December 2023 Daly Park & Company Ltd 4 Camegie Street Luryan Co. Armagh BT66 6AS Northem Ireland
R8 Church {A company limitsd by guarant99. not having a share capltall CONTENTS Page Reference and Administrative Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
R8 Church IA company Ilmlted by guarantee, not having a share capitsl) REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Philip Craig Peter Mcmurray Jonathan Walker Charity Number in Northern Ireland 108699 Company Registration Number N1649713 Registered Office and Principal Address 2a Carrickblacker Avenue Portadown Craigavon Co. Armagh BT63 5BB Northern Ireland Independent Examiner Daly Park & Company Ltd 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland Principal Bankers HSBC 52156 Meadow Lane Portadown Co. Armagh BT62 3NJ Northern Ireland
R8 Church IA company limited by guarantee. not havlng a share capltall TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2023 The trustees present their Trustees, Annual Report, combining the Directors. Report and Trustees, Report, and the unaudiled financial statements for the financial year ended 31 December 2023. The financial statements are prepared in accordance with the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities= Stalement of Recommended Practice applicable to charities preparing their financial statemènts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). The Trustees, Rèport contains the information required to be provided in the Trustees, Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of Ihe charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of R8 Church present a summary of its purpose, governan, artivities, achievements and finances for the financial year 31 Dernber 2023. The charity is a registered charity and hence the report and results are presented in a fotm which complies with the requirements of the Companies Act 2006 and, although not obliged lo comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. Mission, Objectives and Strategy Objectives As a church we aim to maintain the Christian Faith as stated in our Core Values. We are passionate about reaching out in our community to practically show the love of God by meeting the needs of individuals. We provide services and events such as.. 1. A crèche on Sunday mornings for those who attend our services. 2. R8 Kids for the children P1-P5 3. BREAKOUT for children 9-14 yrs old. 4. Multiple services weekly for people lo engage in worship. teaching and community. 5. We have multiple Groups. This is a place where people meet with a common interest. We have both study and interest Groups. One is educalional and the other is more community focused. 6. R8 youth meets weekly for 11-18 years olds. 7. We run a Growth Track Monthly. this helps people to discover their gifts, personality & purpose.
R8 Church IA company Ilmlted by guarantee, not having a share capital) TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2023 Review of Activities, Achievements and Performance Activities in 2023 Weekend Gatherings R8 Crèch8 & Kids Breakout R8 Youth Compassion Ministry - Serving teams Study Groups - Serveday's - Growth Track - Team Nights - Alpha Course Freedom course - Community BBQ - Summerblast Kids Week Our vision as a church has four steps.. 1. Know God (Weekend Services) 2. Find freedom (Groups) 3. Discover Purpose (Growth Track) 4. Make a difference. (Dreamteam) Sunday Services - We continue to run seNices on a Sunday, both 11:00am & 6'.30pm(Monthly). These services have both grown in number. from 30 people to approximately 150 people engaging in our church community weekly. Our welcome team has been working hard connecting with all the new visitors coming into these gatherings. Groups - There are types of groups. Interest groups and study groups. These groups meet in various locations from the church building, coffee shops and even in peoples homes. In study groups, people are actively leaming More
R8 Church IA company limited by guarantee. not havlng a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 December 2023 about the Christian religion and engaging in activities such as prayer and discussion. Growth Track - we continue lo run this class, we have been able to bring 100+ people through our Growth track classes. This allows people lo participate in a personality test and spiritual gifts test, in ordei to help personal & spiritual growth and also build Self Esteem and sew-awareness for the individual person. Dreamleam - This is the core people in the ChUh who run all our events and ministries. They also contribute lo the financial running of the church. We had approximately 45 people regularly allending our Team nights, which happens quarteTIy. Financial Review The results for th8 financial year are set outon page and additional notes are provided showing income and expenditu in greater detail. Financial ResLTIts At the end of the financial year the charity has assets of £159,57812022 - £129,112) and liabilities of £6,39812022 - £8,053). The nel assets of the charity have increased by £32.121. Reserves Position and Policy The aim is lo achieve a level of free reserves of £60,000, which the Iruslees believe is essential to the ongoing work and aims of the charity and would cover 6 months running costs of the charity's aclivilies. Free reserves ore those unrestricted reseTves, not designated nor invested in fixed assets which are available for general use. Reference and Administrative details PUBLIC BENEFIT STATEMENT In setting our objectives and planning our actNities for the year the trustees have given eareful consideration to the Charity Commission for Northern Ireland's statutory guidance on public benefit lo ensure that the activitS have helped achieve the charity purpose and provide a benefit to the benefieiaries. Trustees The trustees who served throughout the financial year. except as noted, were as follows.. Philip Craig Peter Mcmurray Jonathan Walker In accordance with the Conslilution, the trustees retire by rolalion and, being elHJible. offer themselves for re-election. Compliance with Sector-wide Legislation and Standards The charity engages pro-actively with legislation, standards and codes which are developed for the sector. R8 Church subscribes lo and is eornpliant with the following.. The Companies Act 2006 The Charities SORP IFRS 1021 Approved by the Board of Trustees on 26 September 2024 and slgned on Its behalf by.. Philip Craig Trustee
R8 Church IA company limited by guarantee, not havrng a share capital) STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 December 2023 The trustees. who are also directors of R8 Church for the purposes of Company law, are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the director5 to prepare financial slalements for each financial year. Under that law the Injstees have elected lo prepare the financial slalements in accordance with United Kingdom Generally Accepted AcuntIng Practice {Uniled Kingdom Accounting Standards and applicable lawl including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entiliesl. Undercompany law the Iruslees 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 company and of the surplus or deficit of the company for that period. In preparing these financial ststemenls, the trustees are required lo- select suitable accounting policies and apply them consistently- make judgements and eslimales that are reasonable and prudent., slate whether the financial slalemenls have been prepared in accordance with the relevant financial reporting framewotk, identify those standards, and note the effect and the reasons for any material departure from those standards,. and prepare the financial slalements on the going concem basis unless it is inappropriate to presume that the charity will conlinlre in operation. The Iru51ees confirm that they have eomplied with the above requirements in preparing the financial ststements. The trustees are responsible for keeping adequate aecounling records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial statements comply with. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Trustees on 26 September 2024 and signed on its bghalf by: Philip Craig Trustee
R8 Church IA company limited by guarantse. not having a share capitall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF R8 CHURCH We have examined the financial statements of the charrty for the financial year ended 31 December 2023, which omprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balan Sheet and the related notes. This report is made solely to the charity's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report lo the Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law. we do nol accept or assume responsibility to anyone other than the charity and the charity's members, as a body, for our work, or forthis report. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statemenls in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required. It is our responsibility to.. examine the financial statements under section 65 of the Charities Act- follow the procedures laid down by the general Directions given by the Charity Commission for Northem Ireland under section 65(9}(b) of the Charities Act., and state whether particular matters have come to our attention. Basis of independent examinerfs report We have examined your charity financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of the Charities Act. An examinalion includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also indudes consideration of any unusual items or disclosures in the financial slatements and seeking explanations from the trustees 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 lo whether the accounts present a 'lrue and fairf view and the report is limited to those matters set out in the statement below. In connection with our examination, no matter has come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kept in accordance with section 386 of the Companies Acl 2006 the financial statements do not accord with those accounting records the financial stalements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applicable to charities prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) there is further information needed for a proper underslanding of the accounts to be reached. Independent examIneS statement We have concerns an have come across no other matters in connection with the examination to which attention should rawn in this ep rt in order lo enable a proper understanding of the financial statements to be reached. LY ARK & COMPANY LTD gie Street ar Co. Armagh BT66 6AS Northern Ireland Date: 26 September 2024
R8 Church {A company limited by guaranteo, not havlng a share capital) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expenditure Accounti for the financial year ended 31 December 2023 Unrestricted Funds 2023 Total Unrestricted Funds Funds 2023 2022 Total Funds 2022 Notes Income Donations and legacies Investments 157,650 1,642 157,650 1,642 153,414 104 153,414 104 Total income 159,292 159,292 153,518 153.518 Expenditure Charitable activities 127,171 127,171 124,306 124,306 Net Incomel(expenditurel 32,121 32,121 29,212 29,212 Transfers between funds Net movement in funds for the financial year 32,121 32,121 29,212 29,212 Reconciliation of funds: Tolal funds beginning of the year 13 121,059 121,059 91.847 91,847 Total funds at the end of the year 153,180 153,180 121,059 121,059 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities. The notes on pages 1110 16 form part of the financial statements
R8 Church IA company limited by guaranteo, not having a share ¢apitall Company Number: N1649713 BALANCE SHEET as al 31 December 2023 2023 2022 Notes Fixed Assets Tangible assets 29,156 2S,277 Current Assets Debtors Cash al bank and in hand 10 21.458 108.964 6,958 96,877 130A22 103.835 Creditors.. Amounts falling due within one year 11 {6,398) 18.0531 Net Current Assets 124.024 95,782 Total Assets less Current Liabilities 153.180 121.059 Funds Designated funds IUnrestrTCtedl General fund {unreslricled) 120.000 33,180 121,059 Total funds 13 153.180 121,059 These financial statements have been prepared in accordance with the special provisions relating lo small companies within Part 15 of the Companies Act 2006. For the financial year ended 31 Dember 2023 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006.. and no notice has been deposited under section 476. The trustees confirm that the members have not required the company to obtsin an audit of ils financial statements for the financial year in question in accordance with seelion 476 of the Companies Act 2006. The Iruslees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the stste of affairs of the charity as at the end of the financial year and of its profil and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Compantes Act 2006 relating to financial statements. so far as applicable to the charity. The financial statements have been prepared in accordart with the provisions applicable lo companies subject to the small cornpanies. regime and in accordance with FRS 102"The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" applying Section 1A of that Standard. Approved by the Board of Trustses and authorfsed for Issue on 26 September 2024 and signed on its behalf by Philip Cralg Trustee Tre notes on pages 11 to 16 form part of the financial statements 10
R8 Church IA company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS forthe financial year ended 31 December 2023 GENERAL INFORMATION R8 Church is a company limited by guarantee incorporated in Northern Ireland. The regislered office of the charity is 2a CarTrckblackerAvenue, Portadown, Craigavon, Co. Armagh, BT63 5BB, Northern Ireland which is also the principal place of business of the charity. The financial statements have been presenled in Pound {£) which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the charily's financial statemenls. Basis of preparation The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance wilh the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to comply with the requirements of the Charities SORP and are in compliance with seclion 4.7, 10.6 and 15.2 of that SORP. Statement of compliance The financial statements of the charity for the financial year ended 31 December 2017 have been prepared on the going conrn basis and in accordance with Ihe Statement of Recommended Practice (SORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Fund accounting The following are the categories of funds maintained.. Restricted funds Restricted funds represent income re[Ved which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the charity. Unrestricted funds Unreslricled funds consist of General and Designated funds. General funds represent amounts which are expendable at the discretion of the board. in furtherance of the objectives of the charity. Designated funds comprise unrestricted funds that the board has, at its discretion. set aside for particular purposes. These designations have an administrative purpose only, and do nol legally restrict the board's discretion to apply the fund. Income Income is recognised by inclusion in the Statement of Financial Activities only when the charity is legally entitled to the income, performance conditions attached to the item{s) of income have been met. the amounts invotved can be measured with sufficient reliability and it is probable thal the income will be received by the charity. Income from charitable activities Income from charitable adivities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the charity. Income from government and other co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. Grants from governments and other co-funders typically include one of the following types of Gondilions: Performan based conditions.. whereby the charity is conlraclually entitled to funding only lo the extent that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, it recognises the related expenditure, lo the extent that it is reimbursable by the donor, as 11
ontinued R8 Church {A company limlted by guarantee, not havlng a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 income. -Time based conditions= whereby the charily is contractually enlitled to funding on the condition that it is utilised in a particular period. In these cases the charity recognises the income to the extent it is utilised within the period specified in the agreement. In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant incomè is recognised once the charity is notified of entitlement. Grants received towards capital expenditure are credited to the Stalement of Financial Activities when received or receivable. whichever is earlier. Expenditure Expenditure is analysed beeen costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs arè those functions that assist the work of the charity but cannot be attributed to one activity. Such costs are allocaled to activities in proportion to staff time spent or other suitable measure for each activity. Tangible fixed assets and depreciation Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets. less their estimated residual value, over their expected usefvl lives as follows= Fixtures. fittings and equipment 10 % Straight line Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agencies and other co-funders, but not yet received at financial year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation and deferred taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet dale where Iiansactions or events have occutred at thal dale thal will result in an obligation to pay more lax in the future, or a right to pay less tax in the fulure. Timing differences are temporary differences between the charity's taxable income and its results as stated in the financial statement5. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the tirning differences are expected to reverse. based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2023 2022 Donations and legacies 157.650 157,650 153.414 INVESTMENTS Unrestricted Restricted Funds Funds 2023 2022 Investments 1,642 1,642 104 EXPENDITURE 12
continued R8 Church IA company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2023 2022 Expenditure on charitable aGlivites 127,171 127,171 124,306 SUPPORT COSTS Charitable Activities 2023 2022 Support 127,171 127,171 124.306 ANALYSIS OF SUPPORT COSTS 2023 2022 Support 127,171 124,306 NET INCOME 2023 2022 Net Income is statsd after ¢hargingl{crediting): Depreciation of tangible assets 4,612 3.763 INVESTMENT AND OTHER INCOME 2023 2022 Bank interest 1,642 104 EMPLOYEES AND REMUNERATION Number of employees The average number of persons employed (including executive trustees) during the financial year was as follows: 2023 Number 2022 Number Employees The staff costs comprise.. 2023 2022 Wages and salaries 36.098 36.615 13
continued R8 Church IA company limited by guarantee, not having a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 TANGIBLE FIXED ASSETS Fixtures, fittings and equipment Total Cost At 1 January 2023 Additions 37,627 8.491 37,627 8.491 At 31 December 2023 46,118 46.118 Depreciation At 1 January 2023 Charge for the financial year 12,350 4,612 12,350 4,612 At 31 December 2023 16,962 16,962 Net book value At 31 December 2023 29,156 29,156 At 31 December 2022 25,277 25,277 10. DEBTORS 2023 2022 Prepayments and accrued income 21.458 6,958 11. CREDITORS Amounts falling due within one year 2023 2022 Bank overdrafts Trade creditors Taxation and social security costs Other creditors Accruals and deferred income 1.050 1,107 918 360 6,269 18 1.406 3,323 6,398 8,053 12. RESERVES 2023 2022 At the beginning of the year Surplus for the financial year 121.059 32,121 91,847 29,212 At the end of the year 153,180 121.059 14
continued R8 Church {A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds At 1 January 2022 Movement during the financial year 91,847 29.212 91,847 29,212 At 31 Dember 2022 Movement durtng the financial year 121.059 32,121 121,059 32,121 At 31 December 2023 153.180 153,180 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2023 Income Expenditure Transfers Balance between 31 December funds 2023 Unrestricted funds Designated Propety Fund Unrestricted General 120,000 (120,000) 120,000 33,180 121,059 159.292 127,171 121,059 159,292 (127,171) 153,180 Totsl funds 121,059 159.292 127.171 153.180 13.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Total Unrestricted general fvnds 29,156 129,372 (5,3481 153.180 29,156 129,372 {5,348) 153,180 14. STATUS The charity is limited by guarantee not having a share Capital. The liability of the members is limited. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one financial year thereafter, for the payment of the debts and liabilities of the company contracted before they ceased to be members. and the cosls, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required. not exceeding £ 1. 15. TRUSTEES. REMUNERATION 2023 2022 Remuneration 32,897 32,897 30,584 30.584 16. RELATED PARTY TRANSACTIONS 15
continued R8 Church IA company Ilmited by guarantee, not having a share capital} NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 During the financial year £32,897 {£30,584 in 2022) was paid in form of salary for seNices as a minister. This disclosed in note 15 to the accounts. £2,027 was reimbursed to the trustee for travel and other expenses. These expenses were incurred and the remuneration was paid in connection with the exercise of his powers and discharge of the duties in relation to the charity, as allowed under the charity's Memorandum and Articles of Association. 17. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year-end. 18. INDEPENDENT EXAMINER REMUNERATION The independent examinels remuneration amounts to an independent examination fee of £1,200 (2022 £1,056). 16