2023-12-31-accounts

Charity number: 1084575 REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees. report Independent examlner's report Statement of financial activities Balance sheet 10 Statoment of cash flows Notes to the financial statements 12-28

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 General Overseer Pastor E A Adeboye Trustees Mr O Olatunbosun MrAAOjo Dr A Obisesan Ms S Onibuje Minister In Charge Pastor A A Ojo Charity registered number 1084575 Principal office 46 Hollywood Way Erith Kent DA8 2QE Accountants AdeKay & Co Limited Chartered Certified Accounlanls 6 Medcalf Road Enfield EN3 6HL Bankers Barclays Bank PIC 737 Barking Road Plaislow London E139PL Page 1

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustee present their annual report together with the financial statements of Redeemed Christian Church of God I'RCCG'I Place of Restoration (the charity) for the year ended 31 December 2023. The Trustees confim) that the annual report and financial statements of the charity have bèen prepared in accordance with the accounting policies sel out in note 2 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Aceounling and Reporting by Charities." S18temènt of Recommend Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting S18ndard applicable in the UK and Republic of Ireland IFRS 1021 l effective 1January 20191. Objectives and activities a. Polieies and objectives The objects of the Charity are". The advancement of the Christian faith worldwide," and The relief of poverty. Our primary objective is to seek the advancement of Christian religion in accordance with preaching of the faith of the eady Apostles and Whe￿Ver possible, educate people using the word of God as our guide. In setting objectives and planning for activities, the Trustees have given due consideration to general guidanee published by the Charity Commission relating to public benefit, including the guidance 'Public benefit". running charity IPB21'. b. Strategies for achieving objeetives The church has adopted the following strategies for achieving the above objectives". org8nisation of seminars in the church with proven speakers and ministers of the faith lo guide members in the various aspects of the Christian faith," and support for other ch8rilies and Christian events Planting of ehurches and Organise, seminars, training and workshops within the Community. We 81so engage in activities that advanee the prevention and relief of povety through community 8Ctivities that help to provide needed education and skills to make income for our beneficiaries. We provide trainings in craft and tailoring for women and young girls and, music and phologophy training for young people. For those out of Wotk or unemployable, we organise tminings on interview techniques, workplace etiquettes, CV writing amongst others. c. Public Benefit Statement The Board of Trustees confirm that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011, and have due regards to the Charity Commission's geneml guidance on public benefit. Particular consideration has been given lo the Charity Commission's supplementary public guidance provisions on the advaneement of religion for public benefit d. Volunteers The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, il is estimated that over 2,400 volunteer hours were provided during the year. If this is eonservatively valued at £10.00 an hour the volunteer effort amounts lo over £24,000. Page 2

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Objectives and activities leontinuedl e. Main activities undertaken to further the Charity's purposes for the public benefit The mission of the chU￿h is lo worship God as il celebrates ils diversity according lo the teachings of Jesus Christ. Through social ministry, prayer, and p8Storal care we will express God's kingdom of love. We 81so engage in community developments through transfer of knowledge and skills lo beneficiaries. Page 3

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and performance a. Main achievements of the Charity We run Sunday church services and midweek bible study and prayer meetings lo enable beneficiaries connect to God and experience the love of God. Our setviees". Ensure our parishioners experience increased awareness of God's presence and to celebrate God's love. help people to learn and grow as Christians, through mutual support and ca￿", and be 8 good neighbour lo people in need and challenge injustice. The Charity s community project, Craft and Tailor trainings did not hold during the year 2023. However, the charity conb'nues lo provide virtual support to the trainees that requested for it. The charity supplied Christmas hampers to over 50 families in the community during the Christmas festive period. This is to provide support to hèlp families on low income have a decent Christmas meal. The charity collected used clothes which were shipped to less previledged families who are in need of them. b. Review of activities During the year under review, the Chuffh was of benefit lo its congregation and its local Community both spiritU811y and to 8 limited extent, financially. Apart from the regular weekly church services 8nd prayer meetings, the church organised seminars, training, and workshops to address issues relating to health and financial m8n8gements. The Charity is conlenl with the benefits of its activities to the beneficiaries and will continue with the 8clivities in the coming year. Page 4

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review a. Going eoneem After making appropriate enquiries, the Trustees have 8 reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable futu￿. For this reason, they continue lo adopt the going Concern basis in preparing thè financial stalemenls. Further details regarding the adoption of the going COn￿M basis can be found in the accounting policies. b. Reserves policy The Trustees have esL9blished a policy whereby the unrestricted funds not commilled or invested in tangible fixed assets I'lhe free reserves'l held by the church should be 3 months of average annual expenditure. Al this level, the Trustees holds the view that they would be able to continue the current activities of the church in the event of a significant drop in funding. Structure, govemance and management a. Constitution Redeemed Christ18n Church of God -The Place of Restorab'on is a registered charity, number 1084575, and is constituted under a Trust deed dated 27th October 2000. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. c. Organisational structure and deeision-making policies The church is organised so that the trustees meet regularly to manage its affairs. The day lo day 8dministralion of the church is managed by the trustees. d. Policies adopted for the induction and training of Trustees Most trustees are already familiar with the activities of the charity as they are drawn from members who have the skill sel to offer and empathy with our core values. Newly elected Iruslees are encouraged to attend a series of training sessions led by the Chair. The Courses allended equip the Iruslees with skills lo earry out their duties as Iruslees. The training enables them to understand". Their obligation as Iruslees. The importance of the main documents which sel out the operational framework for the charity including the trust deed. The control of resources and current financial position using the management accounts. Their responsibility for the slatulory accounts. How to translate future plans and objectives into budgets and plans. Use of budgetary control. During induction, they meet other trustees. As part of the induction training, they are encouraged lo attend appropriate external events where these will facilitate the undertaking of their role. Page 5

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, govemance and management Icontinuedl e. Related party relationships The Place of Restoration is a member of the Redeemed Christian Church of God IRCCGI which has parishes all over the wodd. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes,. Under the Common Purposes Agreement (see abovel, The Place of Restoration has agreed lo make an annual contribution to RCCG IUKI. In addition, the church supports missionary organisalions such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation lat the discretion of the Irusteesl who are in need. f. Financial risk management The Trustees have assessed the major risks lo which the Charity is exposed, in p8rbcu18r those ￿lated lo the operations and finances of the Charity, and are satisfied that systems and procedures are in place lo mitigate exposu￿ to the major risks. Plans for future periods The church Continues lo explore various ways of spreading the gospel of Christ in an effective manner. The eharily is also looking to grow in membership and continue to develop its members to make life changing impact in society. In addition to the Craft and Tailor It project, the charity intènds to18unch a new project called Imagination. The main objective of im8ginalion is to help develop digital skills for young people in 8re8 of photography and help move them away from anti-social behaviour in the community by making them responsible members of the community- Members. liability The Members of the Charity guar8nlee to contribute an 8mounl not exceeding £1 to the assets of the Charity in the event of winding up. Page 6

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Acceptèd Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are reqUI￿d to". select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021", make judgments and accounting estimates that are reasonable and prudent", stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Dr A O Obisesan Trustee Dale.. 4 November 2024 Page 7

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examiner's report to the Trustees of Redeemed Christian Church of God -The Place of Restoration {'the Charity'l report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 ACVI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement Your allenlion is drawn lo the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in Preferen￿ lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations bul has been withdrawn. l understand that this has been done in order for the aceounls lo provide a true and fair view in accordanee with the Genefftlly Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act," or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regu18tions 2008 other than any requirement that the accounts give a 'true and f81¢ view which is not a matter considered as part of an independent examination. I have no concerns and have Come across no other matters in connection with the examination to whieh attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Charity's Trustees those matters l am required to slate to them in an independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not a¢￿p1 or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Adegboyega Adesigbin FCCA AdeKay & Co Limited Chartered Certified Accountants 6 Med¢alf Road Enfield EN3 6HL Dated.. 4 November 2024 ACCA Page 8

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Investments Other income 6,100 48,375 103 54,475 103 29,945 374 Total income 6,100 48,478 54,578 30,319 Exponditure on: Charitable activities 53,201 53,201 27,813 Total expenditure 53,201 53,201 27,813 Net movement in funds 6,100 14.7231 1,377 2,506 Reconciliation of funds: Totsl funds brought forward Nel movement in funds 18,028 6,100 3,363 14,7231 21,391 1,377 18,885 2,506 Total funds carried forward 24,128 11.3601 22,768 21,391 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 12 to 28 form part of these financial statements. Page 9

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Fixed assets Tangible assets 3,836 4, 735 3.836 4, 735 Current assets Debtors Cash al bank and in hand 12 2,841 18.441 3,009 15,217 21,282 18,226 Creditors.. amounts falling due within one year 12,350) (1,570) Net current assets 18.932 76,656 Total assets less current liabilities 22,768 21,391 Net assets excluding pension asset 22,768 21,391 Total net assets 22.768 21,391 Charlty funds Reslricled funds Unrestricted fvjnds 14 24,128 11.3601 18,028 3,363 14 Total funds 22,768 21,391 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. OrA O Obisesan Trustee Dale." 4 November 2024 MrAAOjo Trustee The notes on pages 12 to 28 form part of these financial statements. Page 10

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operatlng actlvltles Nel cash used in operating activities 5.490 4,607 Cash flows from Investlng actlvltles Interests from Investments Purchase of tangible fixed assets {104} 12.162} (7, 703) Net cash used in investing activities 12,266} 17,1031 Cash flows from financing activities Net cash provided by financing activities Change In cash and cash equlvalents In the year Cash and cash equivalents at the beginning of the year 3,224 12,4961 15.217 17,713 Cash and cash equivalents at the end ofthe year 18.441 15,21T The notes on pages 12 to 28 form part of these financial statements Page11

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General information Redeemed Christian Church of God The Place of Resloralion , charity number 1084575, is a Charity trust established by a declaration of Trust Deed dated 27th October 2000. The office address is 46,Hollywood Way, Erilh Kent DA8 2QE. Accounting policies 2.1 Basis of preparation of financial ststements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 JanLJary 20191, the Financial Reporting Standard appIl￿ble In the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departLJre has involved following the Charities SORP IFRS 1021 PLJblished in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Redeemed Christian Church of God -The Place of Resloralion meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Going concern The trustees consider that there are no material Ljncertainties about the charity's ability to continLJe as a going concern. The trLJStees do not consider that there are any sources of estimation Ljncertainity at the reporting date that have a significant risk of causing a material adiustmenl lo the carrying amounts of assets and liabilities within the next reporting period. 2.3 Income All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Other income is recognised in the period in which il is receivable and to the extent the goods have been provided or on completion of the servi￿. Page 12

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not allributable lo a single activity are apportioned belMeen those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on diredy undertaking the activities which further the Charity's objectives as well as any associated support costs. Support costs are those costs incurred directly in support of expenditure on the objects of the church and include project management carried out at Headquarters. G0Veman￿ costs are those incurred in connection with administration of the church and compliance with conslitulional and stalulory requirements. Grants payable are charged in the year when the offer is made eX￿pt in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Al each reporting dale the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined lo be the higher of its fair value less costs to sell and ils value in use. An impairment loss is recognised where the carrying amount eX￿edS the recoverable amount. Page 13

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 2.6 Tangible fixed assets and depreciation Icontinuedl Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, Depreciation is provided on the following basis.. Music & church equipment Motor vehicles Fixtures and fillings offi￿ equipment Computer equipment 33.33QA straight line 25.OOQ/o reducing balan 12.50Q/o straight line 25.OOQ/o reducing balan 33.33Qh straight line 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllement can be eslimaled reliably. Liabilities are recognised at the amount that the Charity anlicipales il will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required lo sellle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. 2.10 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 al their selllemenl value with the ex￿ptIOn of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.11 Operating leases Rentals paid under operating leases are charged lo the statement of financial activities on a straight line basis over the lease lemi. Page 14

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontinuedl 2.12 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are fvnds which are to be used in accordan￿ with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs 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 lo the financial statements. Investment income, gains and losses are allocated to the appropriate fvnd. Income from donations and legacies Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Donations Offerings Tithe Gift Aid Similar Incomlng resources Building Fund 12,873 25,864 9,638 12,873 25,864 9,638 6,100 6.100 Subtotal detailed disclosure 6,100 48,375 54,475 Total 2023 6,100 48,375 54,475 Unrestricted funds 2022 Total funds 2022 Donations Offerings Tithe Gift Aid 6,025 16,896 7,024 6,025 76,896 7,024 Subtotal detailed disclosure 29,945 29,945 Page 15

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donations and legacies (continued) Unrestricted funds 2022 Total funds 2022 Total 2022 29,945 29,945 Investment income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Bank interest receivable 103 103 Other incoming resources Total funds 2023 Unrestricted funds 2022 Total funds 2022 Other incoming resources 374 374 Page 16

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of grants Grants to Institutions 2023 Total funds 2023 Missions 6,980 6,980 Grants to Institutions 2022 Total funds 2022 Missions 3,678 3,678 The Charity has made the following material grants to institutions during the year.. 2023 2022 Name of institution COF Fund 600 750 Festival of Life WEM 420 420 1.710 2,000 1,800 Camp Ground Fund 4,730 2,970 other grants lo inslilulions 2.250 708 6,980 3,678 Page 17

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2023 Total 2023 Advancement of Christian faith Missions and charitable don8tions 46,221 6,980 46,221 6,980 53,201 53,201 Unrestricted funds 2022 Total 2022 Advancement of Christian faith Missions and charitable donations 24,135 3,678 24,735 3,678 27,813 27,813 Summary by expenditure type Depreciation Other costs 2023 2023 Total 2023 Advancement of Christian faith 3,062 43,159 6,980 46,221 6,980 Missions and charitable donations 3,062 50,139 53,201 Depreciation 2022 Other costs 2022 Total 2022 Advancement of Christian faith Missions and charitable donations 2,546 21,589 3,678 24,135 3,678 2,546 25,267 27,813 Page 18

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure on charitable activities Icontinuedl Summary by expenditure type {continued) Analysis of expenditure by activities Grant funding of activities 2023 Support costs 2023 Total funds 2023 Direct costs 2023 Advancement of Christian faith Missions and charitable donations 25,647 20,574 46,221 6,980 6,980 25,647 6,980 20,574 53.201 G￿nt funding of activities 2022 Support costs 2022 Tot81 funds 2022 Direct costs 2022 Advancement of Christian faith Missions and charitable donations 12,904 11,231 24,735 3,678 3,678 12,904 3,678 11,231 27,813 Page 19

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by activities Icontinuedl Analysis of direct costs Advanceme ntof Christian faith 2023 Total funds 2023 Visiting speakers expenses Hall Rental Training (Music & Mission I Conference and seminars Muscial Equipment Mission Work Support 3,625 6,356 7,000 3,366 3,259 2,041 3,625 6,356 7,000 3,366 3,259 2,041 25,647 25,647 Advancemen t of Christian faith 2022 Total funds 2022 Visiting speakers expenses Hall Rental Training (Music & Mission) CTI Project- Sewing Machine 1,098 5,096 6,560 150 1,098 5,096 6,560 150 12,904 72,904 Page 20

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by activities Icontinuedl Analysis of support costs Advanceme ntof Christian faith 2023 Total funds 2023 Depreciation Dues and subscription Ministry expenses Printing, postages & stationery Transport and travel 3,062 444 3,062 444 1,090 712 1,692 1,090 712 1,692 r li Gifts and donations 2,125 702 2,125 702 Ministry expenes Insuran Hospilalily IT Consumables Telephone Church Group Community Engagement Instrumenlalisl Governance costs 417 3,398 1,670 240 422 3,400 650 417 3,398 1,670 240 422 3,400 650 550 550 20,574 20,574 Page 21

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by activities Icontinuedl Analysis of support costs Icontinuedl Advancemen t of christian faith 2022 Total funds 2022 Depreciation Dues and subscription Ministry expenses Printing, postages & stationery Transport and travel Gifts and donations Celebrations Insuran Repairs and maintenance Hospitality IT Consumables Exp type 27 Exp type 28 Governance costs 2,546 596 2,546 596 322 282 287 761 322 282 287 761 1,270 376 60 800 1,270 376 60 800 158 158 655 655 2,568 2,568 li 550 550 11,231 11,231 Independent examiner's remuneration 2023 2022 Fees payable lo the Charity's independent examiner for the independent examination of the Charity's annual accounts 550 550 10. Trustees. remuneratlon and expenses During the year, no Trustees re￿iVed any remuneration or other benefits {2022- £NIL). During the year ended 31 December 2023, no Trustee expenses have been incurred (2022- £NIL). Page 22

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Tangible fixed assets Music and church equipment Motor Fixtures and vehicles fittings Office equipment Computer equipment Total Cost or valuation At 1 January 2023 Additions 20,753 1.292 10,575 1,103 1,172 320 6,219 550 39,822 2,162 At 31 December 2023 22.045 10.575 1.103 1.492 6.769 41,984 Depreciation At 1 January 2023 Charge for the year 16.382 2,616 10,575 1,103 1,172 80 5.854 366 35,086 3,062 At 31 December 2023 18.998 10,575 1,103 1,252 6,220 38,148 Net book value At 31 December 2023 3,047 240 549 3,836 At 31 De￿mber 2022 4.310 365 4, 735 Page 23

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Debtors 2023 2022 Due within one year Gift Aid re￿1vable 2.841 3,009 2,841 3,009 13. Creditors: Amounts falling due within one year 2023 2022 Accruals 2,350 1,570 Page 24

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Statement of funds statement of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds General Funds 1 3.363 48,478 {53.201} 11.3601 Restrlcted funds Restricted Fund 1 18.028 6.100 24.128 Total of funds 21.391 54,578 {53.201} 22,768 Page 25

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Statement of funds (continued) statement of funds - prior year Balance at 31 December 2022 5alance al l January 2022 Income Exp8nditure Unrestricted funds General Funds 1 857 30,319 (27,813J 3,363 Restrlcted funds Restricted Fund 1 18,028 18,028 Total of funds 18,885 30,319 (27,813) 21,391 15. Summary offunds Summary offunds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expendlture General funds Reslricled funds 3.363 18.028 48.478 6,100 {53.201} 11.3601 24,128 21,391 54,578 153,201) 22,768 Page 26

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Summary of funds Icontinuedl Summary of funds - prior year Balance at 31 December 2022 5alance al l January 2022 Income Exp8nditure General funds Reslricled funds 857 30,319 {27,813J 3,363 18,028 18,028 18,885 30,319 {27,813J 21,391 16. Anatysis of net assets between funds Anatysis of net assets between funds - current year Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 3,836 12,8461 12,3501 3,836 21,282 12.3501 24,128 Total 24,128 11,3601 22,768 Analysis of net assets between funds - prior year Restricted Unrestricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 4, 735 198 (1,570) 4, 735 18,226 (1,570) 18,028 Totsl 18,028 3,363 21,391 Page 27

REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Nel income for the year las per Statement of Financial Acliviliesl 1,377 2,506 Adjustments for: Depreciation charges Investment income 3,062 103 2,546 Decreasellincreasel in debtors Increase in creditors 168 (1,465) 1,020 780 Net cash provlded by operatlng actlvltles 5,490 4,607 18. Anatysis of cash and Cash equivalents 2023 2022 Cash in hand 18.441 15,217 Total cash and cash equlvalents 18,441 15,217 19. Analysis of changes in net debt At1 January 2023 Cash flows At31 December 2023 Cash at bank and in hand 15,217 3,224 18,441 15,217 3.224 18,441 Page 28