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2020-12-31-accounts

Charity number: 1084570

THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 3
Trustees’ Report 4-8
Independent Examiners Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12-18

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

General Overseer Pastor. E. A. Adeboye

Trustees
Dr Olufemi O Daramola
Mrs Odunayo Ajala
Mr Rasheed A Amunikoro
Dr Amos Akinola
Mrs Esther Ogunbiyi
Pastor in Charge Pastor Olutayo O Ayodele
Charity Registered No 1084570
Principal Office Tom Allen Centre
Grove Crescent Road
Stratford
London
E15 1 BJ
Accountants Toda Consult
(Accountants & Tax Consultants)
19 York Road
Northfleet
Kent
DA11 9PU
Independent Examiner Mrs O Paul- Taiwo ACA
Bankers Barclays Bank Plc

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 December 2020

The trustees present their annual report and financial statements of the charity for the year ended 31[st] December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with the charity's trust deed, the Charities Act and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Constitution

The church is constituted under a Trust Deed dated 21 November 2000 and is a registered charity with number 1084570.

Method of Appointment/Election of Trustees

The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the trust deed.

Policies Adopted for the Induction and Training of Trustees

The induction process for any newly appointed member of the Trustees comprises an initial meeting with the Chair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

Organisational Structure and Decision Making

The church is organised so that the Trustees meet regularly to manage its affairs. There is a full-time administrator, who manages the day-to-day administration of the church.

Risk Management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Insurance and Indemnity is in place, annually reviewed and adjusted with contemporary needs. We have reviewed our Health and safety policies and procedures over this year.

.

4

THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2020

OBJECTIVES AND ACTIVITIES

The objects of the Charity are:

Each year, our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review, the trustees have considered the Charity Commission's general guidance on public benefit and its supplementary public guidance on the advancement of religion for the public benefit.

Strategies for Achieving Objectives

The church has adopted the following strategies for achieving the above objectives:

Activities for Achieving Objectives

Church Activities

This was a year for the church to move forward on the preceding year’s achievement. Various programs and activities were due to be organised for women, men, the elderly, the youths/teenagers and children during the year and they would have involved participation of both members of the church and the local community. However, due to the Covid 19 pandemic, events were either cancelled, postponed, hybrid or totally occurred online.

  1. Family Focus Weekend 2020 scheduled to take place at The Sanctuary Tom Allen Centre, Stratford was cancelled due to Covid 19.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2020

  1. Women’s Retreat – (Tabitha Arise Fellowship (TAF) Retreat): Friday 17[th] - Sunday 19[th] February 2020.

  2. Men’s Retreat – (Men of Destiny Retreat): Friday 10[th] - Saturday 11[th] July 2020 was done online due to Covid 19.

  3. Children’s Camp: August 2020 was cancelled due to Covid 19.

  4. Youth/Teenagers Camp: August 2020 was cancelled due to Covid 19.

  5. Community Outreaches, with the evangelism team, going out regularly to minister to people in our immediate vicinity was significantly affected by Covid 19 which enforced social distancing.

  6. Outreaches/Events outside the United Kingdom-These are events which occur outside the UK which are in keeping with the objectives of the charity. They receive our moral and financial support. Some of our key staff and members and affiliates also attend these events:

  7. a) Cyprus 2020: This annual visit and anniversary celebrations were cancelled due to Covid 19 restricted travels.

  8. b) Sri Lanka 2020: Planned visit and outreach were cancelled due to Covid 19.

  9. c) RCCG Annual Convention: Lagos Nigeria, 2[nd] – 9[th] August 2020 took place as online event due to Covid 19.

  10. d) RCCG Annual Congress: Lagos Nigeria, 7[th] – 10[th] December 2020 also became an online event due to Covid 19.

  11. e) Summit of Nations (S.O.N.): Gboko Nigeria, 2020 was cancelled due to the effect of Covid 19.

  12. f) Ministers & Leaders Retreat (MLR): Gboko Nigeria Wednesday 8[th] – Sunday 12[th] December 2020 took place online due to Covid 19.

  13. g) RCCG Festival of Life in 2020: This is an All-night Prayer event hosted by RCCG UK, however it was held online due to Covid 19.

  14. Social Action

  15. a) The church is part of the Stratford Churches, a fellowship of all churches within the locality of Stratford. Meetings and activities were significantly affected by Covid 19 with meeting going online due to restricted social gathering and distancing rules.

Other initiatives which could not take place due to Covid 19 include the homeless project, which occurs over the winter months, food bank activities and ongoing support to the Chapel and Cafe at the Stratford Westfield Shopping Centre. The website is http://www.sratfordchurches.co.uk/churches/sanctuary.html. We are affiliated with and support the initiatives by this group.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2020

Church Building

The passion for seeing the reality of a purpose-built modern worship Centre remains despite economic challenges which appear to want to dent this resolve. It is hopeful that we still explore options available to us. The challenges have also helped us focus on the need to set our house in order with proper systems for our future challenges with God's help.

Due to the foregoing, we have had to revisit our expectations of new build and even a full refurbishment to improving our existing facility.

We are looking at raising a “battling fund” for us to deal with the governance structures to due diligence so we have the safeguards and do not lose out on a Joint Venture process for procuring this long standing goal. We have over the years looked at joint venture arrangements since we have recently updated the internal and external appearance of the building. We are cautiously looking at this more deliberately.

Future Hopes

FINANCIAL REVIEW

Reserves Policy

The trustees have decided that at present, funds should be retained in banks and building societies, or in reliable vehicles for saving funds which return funds with no loss and prospect of increased funds. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

7

THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2020

A dedicated reserve account for the purpose of supporting continuity of the Charities’ objectives.

Principal Funding Sources

This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. The law applicable to charities in England and Wales, the Charities Act 2011 and the provisions of the Trust Deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In pre- paring those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities(Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

This report was approved by the Board of Trustees on 03/10/2021 and signed on its behalf by

DR OLUFEMI DARAMOLA

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

FOR THE YEAR ENDED 31 December 2020

INDEPENDENT EXAMINATION REPORT :

I report on the accounts for the year ended 31 December 2020 set out on pages 10 to 18.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT 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 required. It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S STATEMENTS

This report is in respect of an examination carried out under section 144 of the Charities Act 2011 and in accordance with the directions given by the Charity Commissioners under section 152(5). An examination includes a review of the accounts and making such enquiries as are necessary for the purpose of this report. The procedure undertaken does not constitute an audit.

INDEPENDENT EXAMINER’S STATEMENT

Based on our examination, no matter has come to our attention which gives us reasonable cause to believe that in any material respect accounting records have not been kept in accordance with section 130 of the Charities Act 2011, or that the accounts presented do not accord with those records or comply with the accounting requirements of the Charities Act 2011. No matter has come to our attention in connection with our examination to which, in our opinion, attention should be drawn to enable a proper understanding of the accounts.

Signed and dated by:

MRS O PAUL-TAIWO, ACA

Date: 03/10/2021

Sapphire Consult

9

THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Accounts) FOR THE YEAR ENDED 31 December 2020

Notes
Incoming Resources
Incoming resources from generated
funds:
Voluntary income
2
Other income
3
Total Incoming Resources
Resources Expended
Charitable activity expenditure
4
Finance Cost
5
Governance costs
6
Total Resources expended
Net Incoming/(Outgoing) Resources for the year
Total funds at 1 January 2020
Total funds at 31 December 2020		 2020
2019
Unrestricted
Restricted
Total
Total
£
£
£
£

220,915
-
220,915
222,372

10,977
-
10,977
212
231,892
-
231,892
**222,584 **

180,085
11,151
191,236
218,362

3,512
-
3,512
3,964

2,954
-
2,954
1,000
186,551
11,151
197,703
223,326
45,341
(11,151)
34,189
(742)
490,919
30,282
521,201
521,201
536,260
19,131
555,390
520,459

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

BALANCE SHEET AS AT 31 DECEMBER 2020

Notes
FIXED ASSETS
Tangible Fixed Assets
7
CURRENT ASSETS
Debtors
8
Cash in Hand/ Bank
CREDITORS:
Amount falling due within a year
9
NET CURRENT
ASSETS/LIABILITIES
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS:
Amount falling due after more than
one year
10
NET ASSETS
ACCUMULATED FUNDS
Unrestricted
11.1
Restricted
11.2
TOTAL FUNDS		 2020
2020
Unrestricted Restricted

£
£
495,207
55,000		 2020
2019
Total
£
£
550,207
574,173
495,207
55,000
33,739
-
39,432
1,694		 550,207
574,173
33,739
21,900
41,126
25,038
73,171
1,694
(24,673)
(1,694)		 74,865
46,938
(26,367)
(28,046)
48,498
-		 48,498
18,892
543,705
55,000
(44,057)
-		 598,705
593,066
(44,057)
(72,607)
499,648
55,000		 554,648
520,459
546,727
501,277
7,921
19,182
554,648
520,459

11

THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2020

1. Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention, the Charity Act 2011 and in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the and Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2015), (FRS 102) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently is set out below.

Financial Reporting standard

Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small charity.

1.1 Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be qualified with reasonable accuracy.

1.2 Resources expended

Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources.

1.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the church which has not been designated for other purposes. Designated funds comprise of unrestricted funds that have been set aside by the Trustees for a specific purpose.

1.4 Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and Building: 2% on cost Music and church equipment: 15% on cost Fixtures and fittings: 15% on cost Motor vehicles: 25% on reducing balance

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

2. Voluntary Income: Donations
luntary Income: Donations 2020 2019
£ £
Gift Aid 33,739 27,717
Tithes & Offerings 187,176 194,655
3. Other income
Deposit account interest
Grants		 220,915
2020
£
82
10,895
10,977		 222,372
2019
£
212
-
212

4. CHARITABLE ACTIVITIES- (Direct charitable expenditure)

This comprises all expenditure related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.

4.1 Charitable activities - Direct costs
Staff costs
Employer Pension (Note 4.3)
World Evangelism Mission
Festival of Life
RCCG Central Office
African Child Trust
RCCG Province 2
Living Seed UK
Donations to other charities
Conference and meetings
Ministry Expenses
Children/Youth Expenses
Covid response expenses
Sri Lanka Mission
Sunday School Books
Welfare and Relief of Poverty
Love Stratford Event
Good Women Fellowship
RCCG Camp (Nigeria)		 2020
2020
2019
£
£
£
Unrestricted
Restricted
71,389
4,023
-
-
74,355
3,341
-
11,151
11,210
1,200
-
800
2,880
-
2,880
300
-
300
-
-
500
1,000
-
2,000
120
-
-
-
-
950
790
-
2,643
1,136
-
2,022
1,031
-
-
4,190
-
5,420
200
-
1,000
1,260
-
5,227
-
-
200
-
-
750
1,500
-
1,000
91,019
11,151
114,598

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

4.2 Charitable activities - Support costs
Salary expenses
Employer pension (Note4.3)
Insurance
Light and heat
Telephone
Printing Postage and stationery
Office Admin expenses
Premises repairs and Maintenance
Motor Expenses
Due and Subscriptions
Computer and Internet expenses
Clearing waste management
Security Service
Equipment hire
Fire Alarm System
Miscellaneous
Advertising
Depreciation of Freehold property
Depreciation of Office equipment
Depreciation of Fixtures and fittings
Depreciation of Motor vehicles
Depreciation of Church equipment
Total charitable expenditure		 2020
2020
2019
£
£
£
Unrestricted
Restricted
22,457
-
22,047
326
-
9,095
-
5,330
14,645
-
14,400
4,569
-
3,767
433
-
1,575
1,014
-
2,836
3,893
-
2,080
3,455
-
15,821
141
-
-
1,761
-
3,133
655
-
1,302
334
-
837
-
-
50
830
-
351
1,069
-
2,439
-
-
-
13,089
-
13,089
514
-
513
1,807
-
2,126
8,838
-
11,784
242
-
284
89,066
-
103,764
180,085
11,151
218,362

4.3 EMPLOYER PENSION

Following recent changes in workplace pension law requiring all employers of labour in the UK to enrol qualifying employees under the Pension Act 2008, the employer is required to participate in the contributory scheme to comply from its pension staging date. The charity has now enrolled its qualifying employees, and this amount represent employer's pension contributions during the year.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

5. FINANCE COSTS
Bank charges and interest charges
6. GOVERNANCE COSTS
Legal & professional
expenses
NET MOVEMENT IN FUNDS FOR THE YEAR
The net movement in funds for the year is stated
after charging:
Depreciation of tangible
fixed assets
Legal & Professional fees		 2020
£
3,512
2020
£
2,954
2,954
2020
£
24,490
2,954		 2019
£
3,964
2019
£
1,000
1,000
2019
£
27,796
1,000

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

7. FIXED ASSETS

Cost
At 01/01/20
Add:
Additions
At 31/12/20
Depreciation
At 01/01/20
Charge for
the year
At 31/12/20
Net book
value
At 31/12/20
At 31/12/19		 Land and
Buildings
Music and
church
equipment
Fixtures &
Fittings
Motor
Vehicles
Computer
Equipment
& software
Total
£
£
£
£
£
654,463
31,867
32,243
103,037
4,677
826,287
-
524
-
-
-
524
654,463
32,391
32,243
103,037
4,677
826,811
132,202
28,963
20,199
67,684
3,066
252,114
13,089
514
1,807
8,838
242
24,490
145,292
29,477
22,005
76,522
3,308
276,604
509,171
2,914
10,238
26,515
1,369
**550,207 **
522,261
2,904
12,045
35,353
1,611
574,173

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020
£
Debtors
33,739
33,739
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2020
2020
£
£
Unrestricted
Restricted
Bank overdraft
-
-
Obligations under finance lease contracts (10.1)
6,650
-
Taxation and pension
17,032
-
Accrued expenses
-
-
Professional fees
1,000
-
Youth and Children's camp
-
1,694
24,673
1,694
10.CREDITORS: AMOUNTS FALLING DUE AFTER ONE
YEAR
2020
2020
2019
£
£
£
Unrestricted
Restricted
Obligations under finance lease contracts (10.1)
32,520
-
39,170
-
-
-
-
-
-
32,520
-
39,170
Other creditors
11,537
-
33,437
44,057
-
72,607
10.1 OBLIGATIONS UNDER FINANCE LEASE CONTRACTS
2020
2019
£
£
Balance at 1 January
45,821
52,471
Repayment in the year
(8,564)
(8,564)
Interest charged in the year
1,914
1,914
39,171
45,821
-
-
39,171
45,821
Due with one year
6,650
6,650
Due after more than one year
32,520
39,170
39,171
45,821		 2020
£
33,739
33,739
2020
2020
£
£
Unrestricted
Restricted
-
-
6,650
-
17,032
-
-
-
1,000
-
-
1,694		 2019
£
21,900
21,900
2019
£
3,595
6,650
5,212
3,361
1,000
8,228
24,673
1,694		 28,046

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THE REDEEMED CHRISTIAN CHURCH OF GOD (‘RCCG’) THE SANCTUARY

11. FUNDS
At 1 January 2020
Surplus/(Deficit) for the year
At 31 December 2020		 Unrestricted Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
501,387
19,072
520,459
521,201
45,341
(11,151)
34,189
(742)
546,728
7,921
554,648
520,459

11.1 UNRESTRICTED FUNDS

These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.

11.2 RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria are identified to the fund.

18