Charity number: 1084575 REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 examiner's report ststement of financial activities Balance sheet 10 ststement of cash flows Notes to the financial ststements 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 2024 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 Accountants 6 Medcalf Road Enfield EN3 6HL Bankers Barclays Bank PIC 737 Barking Road Plaistow London E139PL Page 1
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustee present their annual report together with the financial statements of Redeemed Christian Church of God {'RCCG'} Place of Restoration (the charity) for the year ended 31 December 2024. The Trustees confirm that the annual report and financial statements of the charity have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommend Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 { effective 1 January 2019). Objectives and activities a. Policies and objectives The objects of the Charity are.. The advancement of the Christian faith worldwide,. and The relief of povety. Our primary objective is to seek the advancement of Christian religion in accordan with preaching of the faith of the early Apostles and wherever 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 guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity {PB2}'. b. Strategies for achieving objectives The church has adopted the following strategies for achieving the above objectives: organisation of seminars in the church with proven speakers and ministers of the faith to guide members in the various aspects of the Christian faith., and support for other charities and Christian events Planting of churches and Organise, seminars, training and workshops within the community. We also engage in activities that advan the prevention and relief of povety through community activities 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 photography training for young people. For those out of work or unemployable, we organise trainings 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 general guidan on public benefit. Particular consideration has been given to the Charity Commission's supplementary public guidance provisions on the advancement of religion for public benefit d. Volunteers The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, it is estimated that over 2,400 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteer effort amounts to over £24,000. Page 2
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectives and activities {continued) e. Main activities undertaken to further the Charity's purposes for the public benefit The mission of the Church is to worship God as it lebrateS its diversity according to the teachings of Jesus Christ. Through social ministry, prayer, and pastoral care we will express God's kingdom of love. We also engage in community developments through transfer of knowledge and skills to beneficiaries. Page 3
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance a. Main achievements of the Charty We run Sunday church ServIS and midweek bible study and prayer meetings to enable beneficiaries connect to God and experience the love of God. Our ServiS. Ensure our parishioners experience increased awareness of God's presence and to lebrate God's love. help people to learn and grow as Christians, through mutual support and care., and be a good neighbour to people in need and challenge injusti. The Charity's community project, Craft and Tailor trainings did not hold during the year 2024. However, the charity continues to 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 help families on low income have a dent 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 pla of Restoration was of benefit to its congregation and its local community both spiritually and to a limited extent, financially. Apart from the regular weekly church ServIS and prayer meetings, the church organised seminars, training, and workshops to address issues relating to health and financial managements. The charity engaged in the underlisted charity events for the benefits of her community. 1.March 2024- Involved in community evangelism tagged Let's go A-Fishing. This is a community outreach that takes the love and word of God into the community. 2.July 2024 - Held her annual conferen, The Restoration Conference. The theme for the conference was "Manifold and Supematural Recoveries" During the conference, the church held several seminars focussing on Building Beautiful Relationships, as well as Business & Investment Seminar. 3.August 2024 The church organised a summer trip to the seaside (Canvey Island) for the benefits of the young people in the community. 4.October 2024 The church held a Black History Sunday Servi. joining the nation to observe the Black History Month. 5.December 2024 - The church held series of activities to commemorate Christmas and support the community members during Christmas. The church gave out food hampers and held a carol and Christmas lunch event. The Charity is content with the benefits of its activities to the beneficiaries and will continue with the activities in the coming year. Page 4
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves,) held by the church should be 3 months of average annual expenditure. At 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, governance and management a. Constitution Redeemed Christian Church of God -The Place of Restoration 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 vtho are elected and co-opted under the terms of the Trust deed. . Organisational structure and decision-making policies The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration 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 set to offer and empathy with our core values. Newty elected trustees are encouraged to attend a series of training sessions led by the Chair. The courses attended equip the trustees with skills to carry out their duties as trustees. The training enables them to understand.. Their obligation as trustees. The importance of the main documents which set out the operational framework for the charity including the trust deed. The control of resources and cuent financial position using the management accounts. Their responsibility for the statutory 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 to 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 2024 Structure, governance and management (continued) e. Related party relationships The Place of Restoration is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the wodd. The parish's relationship with RCCG and other parishes is govemed by an 'Agreement for Common Purposes,. Under the Common Purposes Agreement (see above), The Place of Restoration has agreed to make an annual contribution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need. f. Financial risk management The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Plans for future periods The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity 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 intends to launch a new project called Imagination. The main objective of imagination is to help develop digital skills for young people in area 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 guarantee to contribute an amount 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 2024 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 (United Kingdom Generally Accepted Accounting Practi). 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 state of affairs of the Charity and of its incoming resources and application of reSoUrs, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to= select suitable accounting policies and then apply them consistentty., observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going conrn 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 to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to 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 Date: 28 October 2025 Page 7
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examiner's report to the Trustees of Redeemed Christian Church of God -The Place of Restoration ('the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024. 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 ('the 2011 Act,). 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 145(5)Ib) of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordan with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting practi effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to 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 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which 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 Charitys Trustees, as a body, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated: 29 October 2025 Adegboyega Adesigbin FCCA AdeKay & Co Limited Chartered Certified Accountants 6 Medcalf Road Enfield EN3 6HL ACCA Page 8
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 42,936 203 3,013 45,949 203 54,475 103 Total income 43.139 3.013 46,152 54,578 Expenditure on: Charitable activities 53,201 Total expenditure 53,201 Net movement in funds 11,209) 3,013 1,804 1,377 Reconciliation of funds: Total funds brought forward Net movement in funds 11,360) 11.209) 24,128 3.013 22,768 1,804 21,391 1,377 Total funds carried forward 12.569) 27.141 24,572 22, 768 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 12 to 28 fomi part of these financial statements. Page 9
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets 10 976 3,836 976 3,836 Current assets Debtors Cash at bank and in hand 738 2,841 18,441 25.208 25,946 21,282 Current liabilities Creditors.. amounts falling due within one year 12 (2.350) (2.350) Net current assets 23,596 18,932 Total assets less current liabilities 24.572 22,768 Net assets excluding pension asset 24,572 22,768 Total net assets 24.572 22, 768 Charity funds Restricted funds 13 27.141 12,569) 24, 128 (1,360) Unrestricted funds 13 Total funds 24.572 22, 768 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Dr A O Obisesan Trustee Date: 28 October 2025 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 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities 6,997 5,490 Cash flows from investing activities Interests from investments Purchase of tangible fixed assets (230 (104) (2, 162) Net cash used in investing activities (230 {2,266 Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 6,767 3,224 18,441 15,217 Cash and cash equivalents at the end of the year 25.208 18,441 The notes on pages 12 to 28 form part of these financial ststements Page11
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General infomiation Redeemed Christian Church of God - The Pla of Restoration 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, Erith Kent DA8 2QE. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordan with the Charities SORP {FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 fairf view. This departure has involved following the Charities SORP (FRS 102} published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Redeemed Christian Church of God -The Place of Restoration meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The trustees consider that there are no material UnrtaIntieS about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainity at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised at the time of the donation. Page 12
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2A 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 settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. 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 to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of reSoUrs. 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 directly 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. Govemance costs are those incurred in connection with administration of the church and Complian with constitutional and statutory requirements. Grants payable are charged in the year when the offer is made expt 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 met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Charity,. this is nomially 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 capitalised 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 at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds 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 2024 Accounting policies (continued) 2.6 Tangible fixed assets and depreciation (continued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis= Music & church equipment Motor vehicles Fixtures and fittings Office equipment Computer equipment 33.330A straight line 25.00 % reducing balance 12.50 % straight line 25.00 % reducing balance 33.330A straight line 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at 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 date 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 balan sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate 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 at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Operating leases Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term. Page 14
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtheran of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are fijnds which are to be used in accordan with specific restrictions 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 to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Donations Offerings Tithe GiftAid 14,999 19.826 8,111 14.999 19,826 8.111 Similar incoming resources Building Fund 3,013 3,013 Subtotal detailed disclosure 42,936 3,013 45,949 Total 2024 42,936 3,013 45,949 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Donations Offerings Tithe Gift Aid 12,873 25, 864 9, 638 12,873 25, 864 9,638 Similar incoming resources Building Fund 6, 100 6,100 Page 15
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacies (continued) Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Subtotal detailed disclosure 48,375 6, 100 54,475 Total 2023 48,375 6, 100 54,475 Investment income Unrestricted funds 2024 Total funds 2024 Bank interest re1vable 203 203 Unrestricted funds 2023 Total funds 2023 Bank interest re1vable 103 103 Analysis of grants Grants to Institutions 2024 Total funds 2024 Missions 4,235 4,235 Page 16
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of grants (continued) Grants to Institutions 2023 Total funds 2023 Missions 6.980 6,980 The Charity has made the following material grants to institutions during the year.. 2024 2023 Name of institution COF Fund Festival of Life 600 600 420 420 WEM 1.800 1,710 2,000 300 Camp Ground Fund Council of African & Carebean Church UK Elbethel Ministry UK RCCG Shepherd Glory RCCG Light House RCCG Great Grace Assembly RCCG House of Judah Another Chance Intemational RCCG Inspiration House RCCG Kings of Kings Good Women Fellowship 100 1,200 250 100 50 250 450 320 145 500 4.235 6,980 4,235 6,980 Page 17
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Advancement of Christian faith 40,113 4,235 40,113 4.235 Missions and charitable donations 44,348 44,348 Unrestricted funds 2023 Total 2023 Advancement of Christian faith 46,221 6,980 46,221 6,980 Missions and charitable donations 53,201 53,201 Summary by expenditure type Depreciation Other costs 2024 2024 Total 2024 Advancement of Christian faith 2,859 37,254 4,235 40.113 4,235 Missions and charitable donations 2,859 41,489 44,348 Depreciation 2023 Other costs 2023 Total 2023 Advancement of Christian faith Missions and charitable donab'ons 3, 062 43, 159 6,980 46,221 6,980 3, 062 50, 139 53,201 Page 18
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure on charitable activities (continued) Summary by expenditure type (continued) Analysis of expenditure by activities Grant funding of activities 2024 Support costs 2024 Total funds 2024 Direct costs 2024 Advancement of Christian faith Missions and charitable donations 20,602 19,511 40,113 4,235 4,235 20,602 4,235 19,511 44,348 Grant funding of activities 2023 Support Gosts 2023 Total funds 2023 Direct Costs 2023 Advanrnent 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 Page 19
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure by activities (continued) Anatysis of direct costs Advanceme ntof Christian faith 2024 Total funds 2024 Missionary and charitable donation Visiting speakers expenses Hall Rental 1,135 450 1,135 450 9,206 6,610 2,371 830 9,206 6.610 2,371 830 Training (Music & Mission ) Conference and seminars Muscial Equipment 20,602 20.602 Advancemen t of Christian faith 2023 Total funds 2023 Visiting speakers expenses Hall Rental Training (Music & Mission) 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 25,64T Page 20
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure by activities (continued) Anatysis of support costs Advanceme ntof Christian faith 2024 Total funds 2024 Depreciation Dues and subscription Visiting speakers expenses Ministry expenses Printing, postages & stationery Refreshments 2,859 1,509 1,553 1,710 254 300 2,859 1.509 1,553 1.710 254 300 Transport and travel Gifts and donations 1,459 600 1,459 600 Ministry expenes Insuran 1,359 435 1,359 435 Hospitality IT Consumables 3,138 754 3,138 754 Telephone Church Group Community Engagement Instrumentalist 144 541 144 541 2,071 275 2,071 275 Governan costs 550 550 19,511 19,511 Page 21
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expenditure by activities (continued) Anatysis of support costs (continued) Advancemen t of christian faith 2023 Total funds 2023 Depreciation Dues and subscription Ministry expenses Printing, postages & stationery Transport and travel Gifts and donations 3.062 444 3,062 444 1.090 712 1.090 712 1.692 2, 125 702 417 1,692 2, 125 702 417 Church expenses Insurance Hospitality IT Consumables 3.398 1,670 240 422 3,398 1,670 240 422 Telephone Church Group Community Engagement Instrumentalist 3.400 650 3.400 650 Governance costs 550 550 20,574 20,574 Independent examiner's remuneration 2024 2023 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 550 550 Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 22
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Tangible fixed assets Music and church equipment Motor Fixtures Office Computor vehicles and fittings equipment equipment Total Cost or valuation At 1 January 2024 22,045 10,575 1,103 1,492 6,769 41,984 At 31 December 2024 22,045 10,575 1,103 1,492 6,769 41,984 Depreclatlon At 1 January 2024 Charge for the year 18,998 2,616 10,575 1,103 1,252 60 6,220 183 38,148 2,859 At 31 December 2024 21,614 10,575 1,103 1,312 6,403 41,007 Net book value At 31 December 2024 431 180 366 977 At 31 December 2023 3,047 240 549 3,836 Page 23
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Debtors 2024 2023 Due within one year Gift Aid re1vable 738 2,841 738 2,841 12. Creditors: Amounts falling due within one year 2024 2023 Accruals 2,350 2,350 Page 24
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Unrestricted funds General Funds 1 (1.360) 43.139 (44.348) {2.569) Restricted funds Restricted Fund 1 24.128 3.013 27,141 Total of funds 22,768 46,152 (44,348) 24,572 Page 25
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statement of funds {continued) Statement of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds General Funds 1 3,363 48,478 (53, 201) (1,360) Restricted funds Restricted Fund 1 18,028 6, 100 24,128 Total of funds 21,391 54,578 (53, 201) 22,768 14. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure General funds Restricted funds 11,360) 24.128 43,139 3.013 (44,348) {2,569) 27,141 22,768 46.152 (44,348) 24,572 Page 26
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Summary of funds (continued) Summary of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure General funds 3,363 18,028 48,478 6, 100 (53, 201) (1,360) 24, 128 Restricted funds 21,391 54,578 (53, 201) 22, 768 15. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 976 976 {1,195) (2,350) 27,141 25,946 (2.350) Total {2,569) 27,141 24,572 Anatysis of net assets between funds - prior period Unrestricted funds 2023 Restricted Endowment funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year 3, 836 (2,846) (2, 350) 3, 836 21,282 (2,350) 24, 128 Total 24, 128 (1, 360) 22,768 Page 27
REDEEMED CHRISTIAN CHURCH OF GOD-THE PLACE OF RESTORATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net income for the period (as per Statement of Financial Activities) 1.804 1,377 Adjustments for: Depreciation charges Investment income 2,859 230 3,062 103 Decrease in debtors Increase in creditors 2,104 168 780 Net cash provided by operating activities 6,997 5,490 17. Analysis of cash and cash equivalents 2024 2023 Cash in hand 25,208 18,441 Total cash and cash equivalents 25,208 18,441 18. Anatysis of changes in net debt At1 January 2024 Cash flows At31 December 2024 Cash at bank and in hand 18.441 6.767 25.208 18.441 6.767 25,208 Page 28