## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

CHARITY REGISTRATION NUMBER 1084524 

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CONTENTS Page<br>Trustee's Report 3<br>Independent Examiner's Report 7<br>Statement of Financial Activities 8<br>Balance Sheet 9<br>Notes to the Accounts 10-14<br>**----- End of picture text -----**<br>


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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024** 

The Trustees of RCCG - Bethel Parish present their report and financial statements for the period ended 31 December 2024, which have been prepared in with the Statement of Recommended Practice, prepared in accordance with the Charities SORP 2015 (FRS102). 

## **Structure, Governing & Management:** 

The Governing document of the Charity is the Trust Deed dated 21[st] November 2000 and the Agreement for Common Purposes between The Redeemed Christian Church of God and RCCG Bethel Parish dated 31[st] December 2012. 

## **Names of Existing Trustees:** 

Mr Rasheed Abayomi Amunikoro Mrs Motunrayo Olasoji Mr Anderson Omorawa Mrs Bolanle Sunmonu 

All Trustees are appointed by resolution of the existing Trustee Body. 

## **Organisation Structure** 

The board of Trustees is headed by a Chairman, the Secretary to the trust, a Trustee member and a Financial Administrator and controller. The only paid employee of the Charity is the Church Pastor. The Trustees are responsible for making all decisions regarding allocation of fund and activities. 

## **Objects of the Charity** 

The objects of the Charity are the advancement of the Christian faith worldwide and relief of poverty in accordance with doctrines set out in the statement of faith contained in the governing document. 

## **Achievements and Performance** 

- We’ve continued with hybrid services/meetings using Zoom app –online mostly during the week, with improved attendance. Members with mobility and challenging health issues continue to benefit from this. 

- We are in good financial shape due to effective cost control and will look to invest more in community initiatives in the next financial year. 

- Children's church and creche continues to thrive encouraging family engagement. 

- We continue to support/partner with established charities. 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **Specific Investment Powers** 

The trustees are empowered to use the income and may use the capital of the trust in promoting the objects in accordance with Charities Act 2011. They can also let and dispose of property of any kind. All investments are in the name of the Charity. 

## **Reserve Policy** 

Funds that are not required for immediate use must be placed or invested in accordance with clause 3:14 of Trust Deed and a minimum of £1,000 is to serve as the Charity's reserve. The remaining funds at 31st December 2024 will be retained to finance the charitable objects and to meet the on-going operating expenses. 

## **Grant-Making Policies** 

Grants are made to other charitable bodies, emergency homeless, emergency relief aid and gifts to members of the Charity. 

## **Review of Transactions and Financial Position** 

During the period, income of £64,375 (2023: £47,068) was received as voluntary donations in the year. 

The net movement in funds for the period, as shown in the statement of financial activities, for the unrestricted funds was a surplus of £13,490 (2023: £24,081 surplus). 

The value of the net assets at 31st December 2024 was £78,935 (2023: £65,445) 

## **Plans for Future Developments** 

- We will continue outreach to increase our members and engagement with different groups within the community. 

- We will continue to improve access to the Children’s Church and crest facilities as well as providing bespoke services for the Youth Church. 

- We will consolidate and continue to renew our partnership with local food banks/charities in our community. 

- We will continue to have more effective fundraising and streamlining of spending to reduce the year-on-year deficit. 

- We will look to invest more in community initiatives. 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **Statement of Trustees' Responsibilities** 

Law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year that gives a true and fair view of the RCCG Bethel Parish's incoming resources and application of resources during the year and of its state of affairs at the end of the year. In preparing those financial statements we are required to: 

- select suitable accounting policies and then apply them consistently 

- make judgements and estimates that are reasonable and prudent 

- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the RCCG Bethel Parish will continue in operation 

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the RCCG Bethel Parish, which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the RCCG Bethel Parish and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations. 

## **Internal controls and the mitigation of major risks** 

The Trustees have assessed the major risks to which the Charity is exposed particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate any risk exposure. 

## **Independent Examiner** 

The Trustees appointed Vicom Accountancy Services Ltd as the Charity's independent examiner. A resolution to reappoint Vicom Accountancy Services Ltd, as independent examiner will be proposed during the Trustees meeting for the year 2025. 

## **Approval:** 

The Board of Trustees approved this report on the 29[th] October 2025 and signed on its behalf by: 

Signed on behalf of the board of Trustees 

Signature……………………………… 

Date: 29[th] October 2025 

Name: Mrs Motunrayo Olasoji 

Position: Secretary 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **CHARITY DETAILS** 

Charity Number 1084524 Principal Address: 12 Mimosa Close Romford RM3 8JJ Independent Examiner:                                       Vicom Accountancy Services Ltd 128 City Road London EC1V 2NX Bankers: National Westminster Stratford Broadway Stratford London E15 4DX Barclays Bank Plc Uxbridge Branch 142 High Street Uxbridge, Middlesex UB8 1DS 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **INDEPENDENT EXAMINATIONS REPORT TO THE TRUSTEES FOR THE YEAR ENDED** 

## **31 DECEMBER 2024.** 

We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes, and the accounting policies for the Year Ended 31[st] December 2024 on pages 8 to 14. 

## **Respective responsibilities of trustees and independent examiner** 

The Church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year undersection 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility: 

- to examine the accounts (under section 145 of the Charities Act), 

- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act, and 

- to state whether matters have come to my attention. 

## **Basis of Independent Examiner's Report** 

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes are view of the accounting records kept by the charity and 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that be required in an audit, and consequently no opinion is given as to whether the accounts presents a 'true and fair' view and the report is limited to those matters set out in the statement below. 

## **Independent Examiner's statement** 

During my examination, no matter has come to my attention: 

   1. which give me reasonable cause to believe that in, any material respect, the requirements: 

- a. to keep accounting records in accordance with section 130 of the Charities Act; and b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act; have not been met; or 

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

**Independent Examiner:** 

**Date: 31[st] October 2025** 

_Vicom Accountancy Services Ltd_ 

**Victoria Onayemi {BA (Hon. ACCT), FMAAT} Vicom Accountancy Services Ltd 128 City Road, London. EC1V 2NX.** 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** 

|Notes<br>INCOMING RESOURCES<br>Voluntary Income<br>1<br>Other Income<br>2<br>Total Incoming Resources<br>RESOURCES EXPENDED<br>Cost of Generating Funds:<br>Charitable Activities<br>3<br>Contract & Grants<br>4<br>Governance Costs<br>5<br>Total Resources Expended<br>Net Incoming/Outgoing Expenses<br>Total Funds Brought Forward<br>Total Funds Carried Forward|**Unrestricted**<br>**Fund**<br>64,375<br>40<br>64,415<br> <br>12,881<br> <br>3,600<br> <br>34,444<br>50,925<br>13,490<br>65,445<br>78,935|**2024**<br>**Total**<br>64,375<br>40<br>64,415<br>12,881<br>3,600<br> <br>34,444<br>50,925<br>13,490<br>65,445<br>78,935|**2023**<br>**Total**<br>47,068<br>28,164<br>75,232<br>10,487<br>3,600<br>37,064<br>51,151<br>24,081<br>41,364<br>65,445|
|---|---|---|---|



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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **BALANCE SHEET AS AT 31 DECEMBER 2024** 

||||**2024**|**2023**|
|---|---|---|---|---|
|||**Unrestricted**|**Total**|**Total**|
|||**funds**|**funds**|**funds**|
|||**£**|**£**|**£**|
|FIXED ASSETS|||||
|Tangible assets|6|2,388|2,388|2,827|
|CURRENT ASSETS|||||
|Debtors|7                6,365|7                6,365|6,365|6,365|
|Cash in Bank||71,432|71,432|57,753|
|TOTAL CURRENT ASSETS||77,797|77,797|64,118|
|CREDITORS|||||
|Amounts falling due within one<br>year|8|(1,250)|(1,250)|(1,500)|
|NET CURRENT ASSETS||76,547|76,547|62,618|
|TOTAL ASSETS LESS CURRENT LIABILITIES|TOTAL ASSETS LESS CURRENT LIABILITIES|78,935|78,935|65,445|
|NET ASSETS||78,935|78,935|65,445|
|FUNDS|||||
|Unrestricted funds|||78,935|65,445|
|Total funds|||||
||||78,935|65,445|



On behalf of the board of Trustees ———Signature: …………………………… 

> Date: - 29[th] October 2025 

## Motunrayo Olasoji 

Name: - ……………………………… Position: - Secretary 

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# **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024** 

## **ACCOUNTING POLICIES:** 

The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, "Accounting and Reporting by Charities SORP 2015 (FRS102) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below. 

## **a) Basis of Preparation of Financial Statements** 

The financial statements are prepared under the historic cost convention and include the results of the Charity's operations, which are described in the Trustees Report, all of which are continuing. 

## **b) Comparative Figures** 

Comparative figures are shown on the statement of Accounts. 

## **c) Incoming Resources** 

All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable. 

## **d) Restricted funds** 

Restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, is identified to the fund, together with a fair allocation of management and support costs. 

## **e) Unrestricted Funds** 

Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds. 

## **f) Resources Expended** 

Direct Charitable Expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives. 

Contracts & Grants and Governance costs includes all costs not directly related to the Charitable activities and cannot be allocated to direct charitable expenditure. 

## **g) Donated Services and Gifts in Kind** 

The value of donated services and gifts in kind provided to the RCCG Bethel Parish is recognised in the statement of financial activities and in the Balance Sheet at their value to the Bethel Parish, as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material. 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **h) Tangible Fixed Assets** 

Tangible fixed assets with a value exceeding £100 are recognised in the balance sheet at cost less depreciation calculated at rates intended to write off the excess of the cost over the anticipated residual value of the assets on a straight line basis over their estimated useful economic lives. 

Full year depreciation is charged in the year of acquisition, irrespective of the date of purchase and no depreciation is charged in year of asset disposal. The following rates are to be used except where the asset is on a finance lease where the lower of the period of repayment and the useful life is applied. 

Office Equipment - 25% Fixtures & Fittings - 25% 

## **i) Welfare Donation** 

This is a special donation carried out by all church members to enable the church to meet the needs of members who have severe financial needs. 

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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## **INCOMING RESOURCES AND RESOURCES EXPENDED 31 DECEMBER 2024** 

|1.<br>Voluntary Income:<br>Main Offering<br>Tithes<br>Thanksgiving<br>Building Funds<br>2. Other Income:<br>Gift Aid<br>Interest Income<br>3. Charitable Activities<br>Payroll Expenses<br>Sunday School & Open<br>Heavens Expenses<br>Welfare<br>Support to Charities<br>Honorarium|2024<br>Total|2023<br>Total|
|---|---|---|
||£<br>18,923<br>36,910<br>130<br>8,412|£<br>17,515<br>27,218<br>20<br>2,315|
||64,375|47,068|
||||
||2024<br>Total|2023<br>Total|
||£<br>-<br>40|£<br>28,162<br>2|
||40|28,164|
||||
||2024<br>Total|2023<br>Total|
||£<br>9,125<br>538<br>20<br>2,970<br>200|£<br>7,018<br>119<br>500<br>2,700<br>150|
||12,881|10,487|



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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

|4. Contract and Grants:<br>Head Office 20% Remittance<br>(WEM)<br>Area & Central Office Support<br>5**.**Governance Cost<br>Rent & Rates<br>Telephone<br>Insurance<br>Software<br>Printing & Stationery<br>Travel<br>Depreciation<br>Independent Examiner<br>Professional Services<br>Repairs & Maintenance|2024<br>Total|2023<br>Total|
|---|---|---|
||£<br>1,800<br>1,800|£<br>1,800<br>1,800|
||3,600|3,600|
||||
||2024<br>Total|2023<br>Total|
||£<br>29,500<br>975<br>137<br>728<br>187<br>198<br>796<br>1,250<br>580<br>93|£<br>28,317<br>635<br>137<br>728<br>287<br>-<br>942<br>1,500<br>4,474<br>44|
||34,444|37,064|



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## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) BETHEL PARISH** 

## 6. TANGIBLE ASSET 

|OFFICE<br>EQUIPMENT<br>FIXTURES<br>&<br>FITTINGS<br>£<br>£<br>At 1 January 2024<br>2,526<br>301<br>Additions<br>-<br>-<br>At 31 December 2024<br>2,526<br>301<br>**DEPRECIATION**<br>Charge for year<br>721<br>75<br>At 31 December 2024<br>721<br>75<br>**NET BOOK VALUE**<br>At 31 December 2024<br>2,162<br>226<br>At 31 December 2023<br>2,526<br>301<br>7.<br>DEBTORS<br>Security Deposit<br>8.<br>CREDITORS AMOUNT FALLING<br>DUE WITHIN A YEAR<br>Accountancy Fees and Independent Review|OFFICE<br>EQUIPMENT<br>FIXTURES<br>&<br>FITTINGS<br>£<br>£<br>At 1 January 2024<br>2,526<br>301<br>Additions<br>-<br>-<br>At 31 December 2024<br>2,526<br>301<br>**DEPRECIATION**<br>Charge for year<br>721<br>75<br>At 31 December 2024<br>721<br>75<br>**NET BOOK VALUE**<br>At 31 December 2024<br>2,162<br>226<br>At 31 December 2023<br>2,526<br>301<br>7.<br>DEBTORS<br>Security Deposit<br>8.<br>CREDITORS AMOUNT FALLING<br>DUE WITHIN A YEAR<br>Accountancy Fees and Independent Review|TOTAL<br>£<br>2,827<br>-<br>2,827<br>796<br>796<br>2,388<br>2,827<br>2024<br>2023<br>£<br>£<br>6,365<br>6,365|
|---|---|---|
||2,526<br>301||
||721<br>75||
||721<br>75||
||2,162<br>226<br>2,526<br>301<br>||
|||6,365<br>6,365|
|||2024<br>2023<br>£<br>£<br>1,250<br>1,500|
|||1,250<br>1,500|
||||



## 9. Related party transactions 

The Redeemed Christian Church of God is the main headquarters of all RCCG Church branches. During the period ended 31st December 2024, Donations of £3,600 (2023 was £3,600) was paid to the Area & Central Office for Administration Support. This is charitable donation and is in line with the agreement of "Deed of Common Purpose". 

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