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← Redeemed Christian Church Of God ("Rccg") The Sanctuary

2024-12-31-accounts

Charity number: 1084570

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

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 4-10
Independent Examiners Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14-19

2

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 2024

General Overseer Pastor. E. A. Adeboye Trustees Dr Olufemi O Daramola Mrs Odunayo Ajala Mr Rasheed A Amunikoro 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 and Independent Examiners Toda Consult 19 Youk Road Northfleet Kent DA11 9PU Bankers Barclays Bank Plc

3

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

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 December 2024

The trustees present their annual report and financial statements of the charity for the year ended 31[st] December 2024. 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 2024

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.

5

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

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2024

RCCG The Sanctuary Activities & Mission Trips for the Year 2024

Slovakia from 13[th] – 15[th] April 2024. Trip by Pastor Olutayo Ayodele

6

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

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2024

The Charities we support.

These organizations are part of the body of Christ we support and affiliated with as God directs.

Furthermore, they fulfil in part or whole our core values and beliefs.

  1. Locally

The Christian Kitchen

The Christian Kitchen is a charity provision that seeks to feed homeless and marginalized people in Waltham Forest

Faith in Schools https://www.faithinschools.co.uk

Our aim is for every child and young person in Newham schools to have the opportunity to meet local Christians and discover what it means to be a Christian in the 21st century.

Stratford Churches

http://www.stratfordchurches.co.uk/who.html Including: Love Stratford and Stratford Leaders Meeting

Transform Newham

https://www.transformnewham.com

7

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

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2024

2. Regional/National

Festival of Life was established in 1996 as a Christian Charity. We are committed to advancing the Christian religion by impacting lives and transforming communities. We do this in several ways, the main of which is our Festival of Life Event which takes place twice a year in the UK.

https://www.festivaloflife.org.uk

RCCG Central Office https://www.rccguk.church RCCG Europe Region

Living Seed Europe https://www.livingseedeurope.org

Calvary Ministries UK https://www.facebook.com/calvaryministriesworldwide.caprouk/

Good Women Fellowship http://www.goodwomen.org.uk

3. International

RCCG Worldwide https://www.rccg.org

Mission & Vision

Including:

RCCG Parishes in Cyprus: The Sanctuary and Bethel Parishes Limassol and Bethel Parish Nicosia RCCG The Vineyard Parish Prayer Centre, Sri Lanka and Mission School RCCG African Mission - https://www.rccg.org/african-missions/

Africa Missions dates to 1996, when Pastor (Mrs) Folu Adeboye (Visionaire of Africa Missions) went on a visit to mission fields in West Africa.

The Africa Missions Organisations is a fully fledged faith-based not- for- profit organisation committed to addressing the plight of the less privileged in Africa and around the world through appropriate community development and empowerment initiatives and the good news of the gospel of Jesus Christ.

8

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

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2024

Living Seed https://www.livingseed.org

Calvary Ministries (Capro ) https://new.capromissions.org

Calvary Ministries CAPRO is an international non-denominational MISSION AGENCY that started in Nigeria, in 1975. Our primary focus and commitment is making disciples among the 7,052 UNREACHED PEOPLE GROUPS worldwide. This has been our commitment for the last 47 years.

African Children’s Trust ACT https://africanchildtrust.org.uk/#home Our Core Objectives are.

Sending skilled volunteers Educating disadvantaged children and orphans Empowering women Developing communities

Church Building

The passion for seeing the reality of a purpose-built modern worship Centre remains despite economic challenges.

We have raised a “battling fund” for this in the order of £100,000 to achieve this and a Building committee consisting of the pastors and the trustees have commenced discussions and plans to achieve this goal.

A group of 5 of these have commenced active sourcing of a reputable legal firm that can provide engagement documents for Architects to draw a plan for Newham Council approval of thn to roceed to a joint venture process to rebuild The Sanctuary.

The Selected officials are:

Mr Yomi Amunikoro (Trustee) Pastor Yinka Akinrinmade (Minister RCCG The Sanctuary) Pastor Otu Ayi (Minister RCCG The Sanctuary) Pastor John Osayamwen (Minister RCCG The Sanctuary) Dr Olufemi Daramola (Trustee/Minister RCCG The Sanctuary)

This team have worked under the legal framework to engage a suitable Architect to develop a plan for Council approval in due course.

Future Hopes

9

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

TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED 31 December 2024

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.

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 08 / 10 /2025 and signed on its behalf by

OLUFEMI DARAMOLA

DR OLUFEMI DARAMOLA

10

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

FOR THE YEAR ENDED 31 December 2024

INDEPENDENT EXAMINATION REPORT :

I report on the accounts for the year ended 31 December 2024 set out on pages 12 to 20.

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:

Oludare Agbola

Date: 09/10 /2025

OLUDARE AGBOLA Bsc, MAAT TODA CONSULT Registered Accountants 19 York Road Northfleet DA11 9PU

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

STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating Income and Expenditure Accounts) FOR THE YEAR ENDED 31 December 2024

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
2024
Prior year adjustment
Total funds as at 31 December 2024		 2024
2023

Unrestricted Restricted
Total
Total
£
£
£
£
312,144 -
312,144
323,765
885 -
885 1,208
313,029 -
313,029
324,973
422,188 -
422,188
350,587
1,338 -
1,338 1,297
19,300 -
19,300 1,900
442,826-
442,826
353,783
(129,797) -
(129,798)
(28,810)
607,157 7,921
615,078
643,888
- -
-
-

477,359
7,921
485,280
615,078

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

12

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

BALANCE SHEET AS AT 31 DECEMBER 2024

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		 2024
2024
Unrestricted Restricted

£
£
436,733
55,000		 2024
2023
Total
£
£
491,733
510,813
436,733
55,000
8,000
-
27,517
261		 491,733
510,813
8,000
53,401
27,778
103,874
35,517
261
(20,016)
(261)
15,501
-		 35,778
157,276
(20,277)
(23,421)
15,501
133,854
452,234
55,000
(21,954)
-		 507,234
644,668
(21,954)
(29,591)
430,280
55,000		 485,280
615,077
477,359
607,156
7,921
7,921
485,280
615,077

Approved by the Trustees and Signed on their behalf:

OLUFEMI DARAMOLA

DR OLUFEMI DARAMOLA

Date: 08/10/2025

13

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

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

1.3 Incoming resources

These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted funds.

1.4 Tangible fixed assets

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Building Music and church equipment Fixtures and fittings Motor vehicle

2. Voluntary Income: Donations
Gift Aid
Tithes & Offerings
3. Other income
Deposit account interest		 2024
£
-
312,144
312,144
2024
£
885
885		 2023
£
51,901
271,864
323,765
2023
£
1,208
1,208

14

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

4.CHARITABLE ACTIVITIES- (Direct charitable expenditure)

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

e in support of that activity where material.
4.1
Charitable activities - Direct costs
Staff costs
Employer NI and Pension
World Evangelism Mission
Festival of Life
RCCG Central Office
RCCG Building project support
African Child Trust
RCCG Provincial/ Regional expenses
Mission expenses
Anniversary Expenses
Ecclesiastical
Conferences, retreats and meetings
Ministry Expenses
Children/Youth Expenses
Macedonian project
Sri Lanka Mission
Evangelism
Cyprus Mission
Sunday School Books
Welfare and Relief of Poverty		 2024
2024
2023
£
£
£
Unrestricted
Restricted
78,974
-
79,144
8,875
-
8,875
15,991
-
15,244
1,300
-
1,200
3,240
-
3,580
5,000
-
6,450
300
-
300
6,950
-
2,200
5,051
4,560
13,350
-
-
3,625
-
3,433
24,150
-
14,238
11,190
-
7,180
35,641
-
30,191
3,493
-
5,559
6,925
-
6,710
639
-
840
2,817
-
1,552
150
-
-
13,265
-
14,481
240,928
-
205,737

2024

2024

2023

15

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

4.2
Charitable activities - Support costs
Staff costs
Employer NI and Pension
Insurance
Premises Rates, light and heat
Telephone
Printing Postage and stationery
Office admin expenses
Premises maintenance
Travels expenses
Dues and Subscriptions
Website, Internet and IT expenses
Clearing waste management
Payroll and bookkeeping
Security Service
Fire Alarm System
Depreciation of Freehold property
Depreciation of Office equipment
Depreciation of Fixtures and fittings
Depreciation of Motor vehicles
Depreciation of Church equipment
Total
5. FINANCE COSTS
Bank charges and interest charges
6. GOVERNANCE COSTS
Legal & professional fees		 £
£
Unrestricted
Restricted
25,000
-
2,757
6,543
-
33,060
-
5,500
-
1,432
-
3,372
-
32,360
-
33,724
-
175
-
2,150
-
1,202
-
828
1,733
-
521
-
13,089
-
4,877
-
943
-
11,651
-
342
-		 £
25,000
2,757
19,253
31,910
5,357
116
1,081
4,247
19,826
624
1,092
337
486
2,665
194
13,089
3,651
1,110
11,651
403
181,260
-		 144,850
422,188
-		 350,587
2024
1,338
2024
£
19,300
19,300		 2023
1,297
2023
£
1,900
1,900

NET MOVEMENT IN FUNDS FOR THE YEAR

16

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

The net movement in funds for the year is stated
after
charging:
Depreciation of tangible fixed assets
Legal & Professional fees		 2024
£
30,903
19,300
50,203		 2023
£
29,904
1,900
31,804

7. FIXED ASSETS

7. FIXED
ASSETS
COST
At 01 January
2024
Add:
Additions
At 31
December
2024
Depreciation
At 01 January
2024
Charge for the
year
At 31
December
2024
Net book
value
At 31
December
2024
At 31
December
2023

Land and
Buildings
Music and church
equipment
Fixtures &
Fittings
Motor
Vehicles
Computer
Equipment
& software
Total
£
£
£
£
£
654,463
58,524
32,243
46,605
6,372
798,207
-
11,822
-
-
-
11,822
654,463
70,346
32,243
46,605
6,372
810,030
184,559
37,834
25,956
34,954
4,090
287,394
13,089
4,877
943
11,651
342
30,903
197,649
42,711
26,899
46,605
4,433
318,297
456,814
27,635
5,344
-
1,939
491,733
469,904
20,690
6,287
11,651
2,281
510,813

8.DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

17

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

Members Loan
Gift aid receivable
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
Obligations under finance lease
contracts (10.1)
Taxation, pension and social security
Professional fees
Youth and Children's camp (restricted)
10.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR		 2024
£
8,000
-
8,000
2024
2024
£
£
Unrestricted
Restricted
8,040
-
10,776
-
1,200
-
-
261		 2023
£
1,500
51,901
53,401
2023

£

8,040
12,415
1,200
1,766
20,016
261		 23,421
Obligations under finance lease
contracts (10.1)
Other creditors		 2024
2024
2023
£
£
£
Unrestricted
Restricted
10,417
-
18,054
-
-
-
-
-
-
10,417
-
18,054
11,537
-
11,537
21,954
-
29,591

10.1 OBLIGATIONS UNDER FINANCE LEASE CONTRACTS

18

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

Balance at 1 January
Principal Repaid/(termination of lease)
Interest repaid in the year
Due with one year
Due after more than one year		 2024
£
26,094
5,888
1,749
18,456
-
18,456
8,040
10,417
18,456		 2023
£
34,494
6,650
1,749
26,094
-
26,094
8,040
18,054
26,094
11. FUNDS
At 1 January
Surplus/(Deficit) for the year
At 31 December		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2023
£
£
£
£
607,156
7,921
615,077 643,887
- 129,797
-
- 129,797
(28,810)
477,359
7,921
485,280 615,077

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.

19