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|||||||Page|
|---|---|---|---|---|---|---|
|Reference and administrative|||details ofthe charitable|company,|its Trustees and|1-2|
|advisers|||||||
|Trustees'<br>report||||||3-9|
|Independent|auditors'|report|on the financial statements|||10 —14|
|Consolidated|statement|offinancial activities||||15|
|Consolidated|balance sheet|||||16-17|
|Consolidated|statement|ofcash flows||||20|
|Notes to the|financial statements|||||21-47|





## 

## 

|Trustees|||Pastor A Sanusi, Chair||
|---|---|---|---|---|
||||Pastor A Irukwu||
||||Pastor W Oladunjoye||
||||Pastor K Bamigbade||
||||Pastor F Popoola||
||||Pastor AAdeleke||
|Company|registered||||
|number|||04097822||
|Charity registered|||||
|number|||1084767||
|Registered||Office|Redemption<br>House||
||||Gunnels<br>Wood Park, Gunnels|Wood Road|
||||Stevenage||
||||Hertfordshire||
||||SG1 2TA||
|Company|Secretary||Pastor K Bamigbade||
|Executive|Administrator||Pastor Modupe<br>Afolabi||
|Independent||auditors|Stephen<br>Michael Associates||
||||Chartered<br>Certified Accountants||
||||1st Floor||
||||3 More London Riverside||
||||London||
||||SE12RE||
|Bankers|||Lloyds TSBPic||
||||105 - 109Station Road||
||||Edgware||
||||Middlesex<br>HA8 7JL||
||||Barclays Bank Plc||
||||StJohns Wood and Swiss Cottage<br>P0 Box2764||
||||London||
||||NW3 6JD||
||||Santander<br>Bank PLC||
||||46/48 High Street North||
||||London||
||||E62HJ||





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||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020|2020|2020|2019|
|||Note|||||
|Income from:|||||||
|Donations<br>and legacies|||657,097|2,941,216|3,598,313|3,597,858|
|Charitable<br>activities||||74,502|74,502|460,638|
|Other trading<br>activities||||282|282|5,526|
|Investments||||12,836|12,836|36,304|
|Total income|||657,097|3,028,836|3,685,933|4,100,326|
|Expenditure<br>on:|||||||
|Raising funds||||1 321|1 321|14,542|
|Charitable<br>activities|||359,619|3,088,576|3,448,195|3,850,042|
|Total expenditure|||359,619|3,089,897|3,449,516|3,864,584|
|Net movement<br>in funds|||297,478|(61,061)|236,417|235,742|
|Reconciliation<br>offunds:|||||||
|Total funds brought|forward||1,802,868|9,418,308|11,221,176|10,985,434|
|Net movement<br>in funds|||297,478|(61,061)|236,417|235,742|
|Total funds carried forward|||2,100,346|9,357,247|11,457,593|11,221,176|





## 

## 

## 

|||||||2020||2019|
|---|---|---|---|---|---|---|---|---|
|||||Note|||||
|Fixed assets|||||||||
|Tangible assets||||13||5,690,993||5,819,261|
|||||||5,690,993||5,819,261|
|Current assets|||||||||
|Stocks||||15|33,099||67,560||
|Debtors||||16|1,231,469||1,112,247||
|Investments||||17|1,925,671||1,920,793||
|Cash at bank and|in|hand|||3,717,033||3,385,970||
||||||6,907,272||6,486,570||
|Creditors: amounts||falling due within one|||||||
|year||||18|(397,082)||(248,564)||
|Net current assets||||||6,510,190||6,238,006|
|Total assets less|current liabilities|||||12,201,183||12,057,267|
|Creditors: amounts||falling due after more|||||||
|than one year||||||(743,590)||(836,091)|
|Net assets excluding|||pension asset|||11,457,593||11,221,176|
|Total net assets||||||11,457,593||11,221,176|
|Charity funds|||||||||
|Restricted<br>funds||||21||2,100,346||1,802,868|
|Unrestricted<br>funds||||21||9,357,247||9,418,308|
|Total funds||||||11,457,593||11,221,176|





# 

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## 

|||||||2020||2019|
|---|---|---|---|---|---|---|---|---|
|||||Note|||||
|Fixed assets|||||||||
|Tangible assets||||13||5,690,993||5,819,261|
|Investments||||14||10,000||10,000|
|||||||5,700,993||5,829,261|
|Current assets|||||||||
|Stocks||||15|33,099||67,560||
|Debtors||||16|1,231,469||1,113,136||
|Investments||||17|1,925,671||1,920,793||
|Cash at bank and|in|hand|||3,717,033||3,380,600||
||||||6,907,272||6,482,089||
|Creditors: amounts||falling due within one|||||||
|year||||18|(397,704)||(245,744)||
|Net current assets||||||6,509,568||6,236,345|
|Total assets less|current liabilities|||||12,210,561||12,065,606|
|Creditors: amounts||falling due after more|||||||
|than one year||||||(743,590)||(836,091)|
|Net assets excluding|||pension asset|||11,466,971||11,229,515|
|Total net assets||||||11,466,971||11,229,515|
|Charity funds|||||||||
|Restricted<br>funds||||21||2,100,346||1,802,868|
|Unrestricted<br>funds|||||||||
|Designated<br>funds||||21|900,000||900,000||
|General funds||||21|8,466,625||8,526,647||
|Total unrestricted|funds|||21||9,366,625||9,426,647|
|Total funds||||||11,466,971||11,229,515|





# 

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## 

## 

|||2020|2019|
|---|---|---|---|
|||f.||
|Cash flows from operating<br>activities||||
|Net cash used<br>in operating<br>activities||422,081|(48,231)|
|Cash flows from investing<br>activities||||
|Dividends,<br>interests<br>and rents from investments||12,836|36,304|
|Proceeds from the sale of intangible<br>assets|||41,495|
|Purchase of intangible<br>assets||(10,493)|(82,426)|
|Net cash provided<br>by/(used<br>in) investing|activities|2,343|(4,627)|
|Cash flows from financing<br>activities||||
|Cash inflows from new borrowing|||923,650|
|Repayments<br>of borrowing||(81,282)|(26,305)|
|New finance leases|||33,654|
|Repayments<br>offinance leases||(11,219)|(38,348)|
|Net cash (used in)/provided<br>by financing|activities|(92,501)|892,651|
|Change<br>in cash and cash equivalents<br>in|the year|331,923|839,793|
|Cash and cash equivalents<br>at the beginning|ofthe year|5,302,495|4,462,702|
|Cash and cash equivalents<br>at the end of|the year|5,634,418|5,302,495|
|The notes on pages 21 to 47 form part ofthese financial statements||||





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|Freehold<br>property||2% straight<br>line||
|---|---|---|---|
|Long-term<br>leasehold|property|2% straight<br>line||
|Motor vehicles||25% reducing<br>balance||
|Fixtures and fittings||10%straight<br>line||
|Office equipment||33.33%straight|line|
|Computer<br>equipment||33.33%straight|line|





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## 

|||Restricted|Unrestricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2020|
|||F|f.|F|
|Donations||323,176|2,941,216|3,264,392|
|Grants||150,000||150,000|
|Government|grants|183,921||183,921|
|||657,097|2,941,216|3,598,313|



||Restricted|Unrestricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2019|2019|2019|
|Donations|270,218|3,327,640|3,597,858|



## 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2020|2020|
|||f.|F|
|Sale of books, tapes etc||72,207|72,207|
|Ministers|conference|205|205|
|Advertising|income|1,800|1,800|
|Ordination|income|240|240|
|Sundry income||50|50|
|||74,502|74,502|





## 

## 

## 

## 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2019|2019|
|Sale of books, tapes etc||129,010|129,010|
|Ministers|conference|292,773|292,773|
|Advertising|income|1,000|1,000|
|Ordination|income|28,113|28,113|
|Sundry income||9,742|9,742|
|||460,638|460,638|



## 

## 

|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2020|2020|
|Fees|receivable|282|282|
|||Unrestricted|Total|
|||funds|funds|
|||2019|2019|
|Rent|receivable|1,050|1,050|
|Fees|receivable|4,476|4,476|
|||5,526|5,526|





## 

## 

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## 

||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2020|2020|
||||f.|F|
|Investment|income|- local cash|6,314|6,314|
|Investment|income|- other local investments|6,522|6,522|
||||12,836|12,836|
||||Unrestricted|Total|
||||funds|funds|
||||2019|2019|
|Investment|income|—local cash|24,049|24,049|
|Investment|income|—other local investments|12,255|12,255|
||||36,304|36,304|



## 

|||||||Charitable||
|---|---|---|---|---|---|---|---|
|||||||giving to|Total|
|||||||Institutions|funds|
|||||||2020|2020|
|||||||f.|F|
|Missionary|and|Charitable|giving|-|Europe|7,500|7,500|
|Missionary|and|Charitable|giving|-|UK|5,000|5,000|
|Missionary|and|Charitable|giving|-|Rest ofthe World|5,000|5,000|
|||||||17,500|17,500|





## 

## 

## 

|||||||Charitable||
|---|---|---|---|---|---|---|---|
|||||||giving to|Total|
|||||||Institutions|funds|
|||||||2019|2019|
|Missionary|and|Charitable|giving|-|Europe|10,000|10,000|
|Missionary|and|Charitable|giving|-|UK|134,411|134,411|
|Missionary|and|Charitable|giving|-|Rest ofthe World|1,035|1,035|
|||||||145,446|145,446|



## 

|||Restricted|Unrestricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2020|
|Conference|and events|183,921|817,027|1,000,948|
|Parish liason|||1,850,695|1,850,695|
|COVID-19 Intervention||175,698|333,123|508,821|
|Governance|costs||87,731|87,731|
|||359,619|3,088,576|3,448,195|



|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2019|2019|
|Conference|and events|1,212,667|1,212,667|
|Parish liason||2,538,879|2,538,879|
|COVID-19 Intervention||1,035|1,035|
|Governance|costs|97,461|97,461|
|||3,850,042|3,850,042|





## 

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## 

||||Charitable|||
|---|---|---|---|---|---|
|||Activities|giving|||
|||undertaken|funding<br>of|Support|Total|
|||directly|activities|costs|funds|
|||2020|2020|2020|2020|
|||f.|F|f.|F|
|Conference|and events|109,579|7,500|883,869|1,000,948|
|Parish liason||431,964|5,000|1,413,731|1,850,695|
|COVID-19 Intervention||503,821|5,000||508,821|
|Governance|costs|||87,731|87,731|
|||1,045,364|17,500|2,385,331|3,448,195|
||||Charitable|||
|||Activities|giving|||
|||undertaken|funding<br>of|Support|Total|
|||directly|activities|costs|funds|
|||2019|2019|2019|2019|
|Conference|and events|907,159|10,000|295,508|1,212,667|
|Parish liason||604,444|134,411|1,800,024|2,538,879|
|COVID-19 Intervention|||1,035||1,035|
|Governance|costs|||97,461|97,461|
|||1,511,603|145,446|2,192,993|3,850,042|





## 

## 

## 

## 

|||||Conference|Conference|Parish|COVID-19|Total|
|---|---|---|---|---|---|---|---|---|
|||||and|events|liason|Intervention|funds|
||||||2020|2020|2020|2020|
||||||F|f.|F|f.|
|Staff costs|||||64,487|387,569||452,056|
|Conferences|and events||||45,092|||45,092|
|Ministry expenses||||||44,395||44,395|
|Financial Assistance - vulnerable|||person||||328,123|328,123|
|Love Christmas||Initiative|||||175,698|175,698|
|||||109,579||431,964|503,821|1,045,364|
|||||Conference|||COVID-19|Total|
|||||and|events|Parish liason|Intervention|funds|
||||||2019|2019|2019|2019|
|Staff costs|||||76,958|426,836||503,794|
|Conferences|and events|||830,201||||830,201|
|Ministry expenses||||||177,608||177,608|
|||||907,159||604,444||1,511,603|





## 

## 

||||Conference|Parish|Governance|Total|
|---|---|---|---|---|---|---|
||||and events|liason|costs|funds|
||||2020|2020|2020|2020|
||||F|f.|F|f.|
|Staff costs|||141,687|687,054||828,741|
|Depreciation|||115,850|22,911||138,761|
|Ministry expenses||||27,575||27,575|
|Premises costs||||115,434||115,434|
|Communication<br>costs||||111,926||111,926|
|Visiting speakers expenses|||824|4,331||5,155|
|Accomodation|||14,530|23,780||38,310|
|Vehicle running<br>cost|||1,335|7,011||8,346|
|Bookshop expenses||||61,677||61,677|
|Staff training||||54,580||54,580|
|Volunteer expenses|||4,021|18,588||22,609|
|Refreshments||||18,752||18,752|
|AGM expenses||||1,199||1,199|
|Legal and professional||||24,702||24,702|
|Trustees<br>indemnity|insurance|||123,851||123,851|
|Auditors<br>remuneration||||56,819||56,819|
|Auditors<br>remuneration||non-audit||20,238||20,238|
|Equipment<br>Hire|||4,155|||4,155|
|Travelling<br>expenses||||33,303||33,303|
|Impairment<br>of loan|receivable||572,381|||572,381|
|Bad debt|||29,086|||29,086|
|Governance<br>costs|||||87,731|87,731|
||||883,869|1,413,731|87,731|2,385,331|





## 

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## 

## 

|Analysis ofsuppor|t|costs (continued)|||||
|---|---|---|---|---|---|---|
||||Conference||Governance|Total|
||||and events|Parish liason|costs|funds|
||||2019|2019|2019|2019|
|Staff costs|||143,479|753,267||896,746|
|Depreciation|||65,509|92,043||157,552|
|Ministry expenses||||10,778||10,778|
|Premises costs||||148,291||148,291|
|Communication<br>costs||||162,121||162,121|
|Visiting speakers expenses|||353|1,856||2,209|
|Accomodation|||17,036|82,460||99,496|
|Vehicle running<br>cost|||3,760|19,742||23,502|
|Bookshop expenses||||72,973||72,973|
|Staff training||||133,295||133,295|
|Volunteer expenses|||3,226|16,934||20,160|
|Refreshments||||18,640||18,640|
|AGM expenses||||679||679|
|Legal and professional||||42,759||42,759|
|Trustees<br>indemnity|insurance|||124,510||124,510|
|Auditors<br>remuneration||||57,473||57,473|
|Auditors<br>remuneration||non-audit||31,804||31,804|
|Equipment<br>Hire|||45,976|||45,976|
|Printing<br>and reproduction|||14,191|||14,191|
|Travelling<br>expenses||||30,399||30,399|
|(Surplus)/deficit<br>on|disposal offixed assets||1,978|||1,978|
|Governance<br>costs|||||97,461|97,461|
||||295,508|1,800,024|97,461|2,192,993|





## 

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## 

||||||2020|2019|
|---|---|---|---|---|---|---|
||||||E||
|Fees payable|to the charitable|company's|auditor|for the audit ofthe|||
|charitable<br>company's<br>annual||accounts|||5,550|5,550|
|Fees payable|to the charitable|company's|auditor|in respect of:|||
|All non-audit|services not included<br>above||||9,433|9,071|



## 

|Staff costs||||||||
|---|---|---|---|---|---|---|---|
|||||||charitable|charitable|
|||||Group|Group|company|company|
|||||2020|2019|2020|2019|
|Wages and|salaries|||1,201,552|1,319,119|1,201,552|1,319,119|
|Social security costs||||111,929|119,927|111,929|119,927|
|Contribution|to defined|contribution|pension|||||
|schemes||||36,428|38,397|36,428|38,397|
|||||1,349,909|1,477,443|1,349,909|1,477,443|



|||||Group|Group|
|---|---|---|---|---|---|
|||||2020|2019|
|||||No.|No.|
|Management||||1|1|
|Administration||and|activity|32|30|
|Provincial|pastors|||11|15|
|||||44|46|



||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||No.|No.|
|In|the|band|f70,001|—F80,000|||
|In|the|band|f80,001|—F90,000|||





## 

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## 

|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|||||||f.||
|Pastor|W|Oladunjoye|Remuneration|||10,000|10,000|
||||Pension|contributions|paid|300|300|
|Pastor|F|Popoola|Remuneration|||10,000|10,000|
||||Pension|contributions|paid|300|300|



## 

## 

|||Long-term|||
|---|---|---|---|---|
||Freehold|leasehold|Other fixed||
||property|property|assets|Total|
||E|f.|E|f.|
|Cost or valuation|||||
|At 1 January 2020|3,863,200|2,520,634|582,087|6,965,921|
|Additions|||10,493|10,493|
|At 31 December 2020|3,863,200|2,520,634|592,580|6,976,414|
|Depreciation|||||
|At 1 January 2020|529,934|151,313|465,413|1,146,660|
|Charge for the year|45,264|49,213|44,284|138,761|
|At 31 December 2020|575,198|200,526|509,697|1,285,421|





## 

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## 

## 

|Group (continued)|||||
|---|---|---|---|---|
|||Long-term|||
||Freehold|leasehold|Other fixed||
||property|property|assets|Total|
|||F|E|F|
|Net book value|||||
|At 31 December 2020|3,288,002|2,320,108|82,883|5,690,993|
|At 31December 2019|3,333,266|2,369,321|116,674|5,819,261|
|charitable<br>company|||||
|||Long-term|||
||Freehold|leasehold|Other fixed||
||property|property|assets|Total|
|Cost or valuation|||||
|At 1 January 2020|3,863,200|2,520,634|582,087|6,965,921|
|Additions|||10,493|10,493|
|At 31 December 2020|3,863,200|2,520,634|592,580|6,976,414|
|Depreciation|||||
|At 1 January 2020|529,934|151,313|465,413|1,146,660|
|Charge for the year|45,264|49,213|44,284|138,761|
|At 31 December 2020|575,198|200,526|509,697|1,285,421|
|Net book value|||||
|At 31 December 2020|3,288,002|2,320,108|82,883|5,690,993|
|At 31December 2019|3,333,266|2,369,321|116,674|5,819,261|





## 

## 







## 

## 

## 

|14.|Fixed asset investments|Fixed asset investments|Fixed asset investments|(continued)||||
|---|---|---|---|---|---|---|---|
||Name||||Incomef|Expenditure|Profit/(Loss)<br>ISurplus/|
||||||||(Deficit) for|
||||||||the year|
||||||||f.|
||Redemption||Hub Limited||282|1 321|(1,039)|
||Net|assetsf||||||
|||622||||||
|15.|Stocks|||||||



|||||||||charitable|charitable|
|---|---|---|---|---|---|---|---|---|---|
|||||||Group|Group|company|company|
|||||||2020|2019|2020|2019|
|||||||f.||f.||
|Finished|goods|and|goods|for|resale|33,099|67,560|33,099|67,560|





## 

## 

## 

## 

|||||charitable|charitable|
|---|---|---|---|---|---|
|||Group|Group|company|company|
|||2020|2019|2020|2019|
|||f.||f.||
|Due after more than one year||||||
|Other debtors|||269,000||269,000|
||||269,000||269,000|
|Due within one year||||||
|Trade debtors|||31,822||31,822|
|Amounts<br>owed by group undertakings|||||890|
|Other debtors||14,937|335,626|14,937|335,626|
|Prepayments|and accrued income|1,163,795|475,799|1,163,795|475,798|
|Tax recoverable||21,256||21,256||
|Grants receivable||31,481||31,481||
|||1,231,469|1,112,247|1,231,469|1,113,136|



## 

|||charitable|charitable|
|---|---|---|---|
|Group|Group|company|company|
|2020|2019|2020|2019|
|1,925,671|1,920,793|1,925,671|1,920,793|





## 

## 

## 

## 

|||||charitable|charitable|
|---|---|---|---|---|---|
|||Group|Group|company|company|
|||2020|2019|2020|2019|
|||f.||f.||
|Bank overdrafts||8,286|4,268|8,286|4,268|
|Bank loans||79,950|79,950|79,950|79,950|
|Trade creditors||225,143|63,305|225,143|63,305|
|Amounts<br>owed to group undertakings||||1,798||
|Corporation<br>tax||15,084|40,084|15,084|40,084|
|Other taxation and social security||35,361|31,226|35,361|31,226|
|Obligations<br>under finance lease and hire||||||
|purchase<br>contracts||11,219|11,219|11,219|11,219|
|Other creditors||5,495|6,362|5,495|6,362|
|Accruals and deferred|income|16,544|12,150|15,368|9,330|
|||397,082|248,564|397,704|245, 744|





## 

## 

## 

||||||charitable|charitable|
|---|---|---|---|---|---|---|
||||Group|Group|company|company|
||||2020|2019|2020|2019|
||||f.||f.||
|Bank loans|||736,113|817,395|736,113|817,395|
|Net obligations||under finance lease and hire|||||
|purchase|contracts||7,477|18,696|7,477|18,696|
||||743,590|836,091|743,590|836,091|



||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2020|2019|
|Payable|or|repayable|by|instalments|417,645|417,645|
||||||417,645|417,645|



## 

## 

||||||charitable|charitable|
|---|---|---|---|---|---|---|
||||Group|Group|company|company|
||||2020|2019|2020|2019|
||||f.||f.||
|Financial assets|||||||
|Financial|assets measured|at fair value|||||
|through|income and expenditure||5,642,704|5,306,763|5,642,704|5,301,393|





## 

## 

|Statement offunds|-|current|year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1||||31|
||||January|||Transfers|December|
||||2020|Income|Expenditure|in/out|2020|
||||E|f.|F|f.|F|
|Unrestricted<br>funds||||||||
|Designated<br>funds||||||||
|Feasibility<br>Study|||900,000||||900,000|
|RCCG World Evangelical||||||||
|Mission (WEM) Fund||towards||||||
|RCCG UK's COVID-19||||||||
|Response|||||(250,000)|250,000||
||||900,000||(250,000)|250,000|900,000|
|General funds||||||||
|General<br>Funds<br>—all|funds||8,518,308|3,028,836|(2,839,897)|(250,000)|8,457,247|
|Total Unrestricted|funds||9,418,308|3,028,836|(3,089,897)||9,357,247|
|Restricted funds||||||||
|Tsunami<br>Relief Contribution|||2,410||||2,410|
|Haiti Appeal|||21,917||||21,917|
|Camp Ground<br>Building|||170,327||||170,327|
|Benevolence<br>Offering|||1,463,188|260,451|||1,723,639|
|New Auditorium|||123,207|1,000|||124,207|
|Lloyds Philippines<br>Appeal|||21,819||||21,819|
|Love Christmas<br>Project||||61,725|(25,698)||36,027|
|Love Christmas<br>Project:||||||||
|Church<br>Revitalisation||Trust||150,000|(150,000)|||
|Coronavirus<br>Job Retention||||||||
|Scheme||||183,921|(183,921)|||
||||1,802,868|657,097|(359,619)||2,100,346|
|Total offunds|||11,221,176|3,685,933|(3,449,516)||11,457,593|





# 

## 



## 

## 

|Statement offund|s - prior year|||||
|---|---|---|---|---|---|
||||||Balance at|
|||Balance at|||31|
|||1January|||December|
|||2019|Income|Expenditure|2019|
|Unrestricted<br>funds||||||
|Designated<br>funds||||||
|Feasibility<br>Study||900,000|||900,000|
|General funds||||||
|General<br>Funds||8,552,784|3,830,108|(3,864,584)|8,518,308|
|Total Unrestricted|funds|9,452,784||(3,864,584)|9,418,308|
|Restricted funds||||||
|Tsunami<br>Relief Contribution||2,410|||2,410|
|Haiti Appeal||21,917|||21,917|
|Camp Ground<br>Building||170,327|||170,327|
|Benevolence<br>Offering||1,204,565|258,623||1,463,188|
|New Auditorium||111,612|11,595||123,207|
|Lloyds Philippines|Appeal|21,819|||21,819|
|||1,532,650|270,218||1,802,868|
|Total offunds||10,985,434|270,218|(3,864,584)|11,221,176|





|Summary|offunds - current y|ear|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1||||31|
|||January|||Transfers|December|
|||2020<br>E|Income<br>f.|Expenditure<br>f|in/out<br>f.|2020f|
|Designated|funds|900,000||(250,000)|250,000|900,000|
|General funds||8,518,308|3,028,836|(2,839,897)|(250,000)|8,457,247|
|Restricted|funds|1,802,868|657,097|(359,619)||2,100,346|
|||11,221,176|3,685,933|(3,449,516)||11,457,593|
|Summary|offunds - prior year||||||
|||||||Balance at|
||||Balance at|||31|
||||1January|||December|
||||2019|Income|Expenditure|2019|
|Designated|funds||900,000|||900,000|
|General funds|||8,552,784|3,830,108|(3,864,584)|8,518,308|
|Restricted|funds||1,532,650|270,218||1,802,868|
||||10,985,434|4,100,326|(3,864,584)|11,221,176|



## 

|Analysis|of n|et assets between funds - current|period|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2020<br>f|2020<br>f.|2020f|
|Tangible|fixed|assets||5,690,993|5,690,993|
|Current|assets||2,100,346|4,806,926|6,907,272|
|Creditors|due|within one year||(397,082)|(397,082)|
|Creditors|due|in more than one year||(743,590)|(743,590)|
|Total|||2,100,346|9,357,247|11,457,593|





## 

## 

## 

## 

## 

|Analysis|of net assets between funds - prior per|iod|||
|---|---|---|---|---|
|||Restricted|Unrestricted|Total|
|||funds|funds|funds|
|||2019|2019|2019|
|Tangible|fixed assets||5,819,261|5,819,261|
|Debtors|due after more than one year||269,000|269,000|
|Current|assets|1,802,868|4,414,702|6,217,570|
|Creditors|due within one year||(248,564)|(248,564)|
|Creditors|due in more than one year||(836,091)|(836,091)|
|Total||1,802,868|9,418,308|11,221,176|



## 

||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2020|2019|
|Net income|for the|period (as|per Statement|of Financial Activities)|236,417|235,742|
|Adjustments|for:||||||
|Depreciation|charges||||138,761|157,552|
|Dividends,<br>interests||and rents|from investments||(12,836)|(36,304)|
|Loss on the|sale of|fixed assets||||1,978|
|Decrease/(increase)||in stocks|||34,461|(23,211)|
|Increase<br>in|debtors||||(119,222)|(336,191)|
|Increase/(decrease)||in creditors|||144,500|(47,797)|
|Net cash provided||by/(used|in) operating|activities|422,081|(48,231)|





## 

## 

## 

## 

## 

|||||Group|Group|
|---|---|---|---|---|---|
|||||2020|2019|
|||||E||
|Cash|in|hand||3,717,033|3,385,970|
|Notice|deposits (less than||3 months)|1,925,671|1,920,793|
|Overdraft||facility repayable|on demand|(8,286)|(4,268)|
|Total|cash and cash equivalents|||5,634,418|5,302,495|



## 

## 

|||||At 1||At 31|
|---|---|---|---|---|---|---|
|||||January||December|
|||||2020|Cash flows|2020|
|Cash at bank and||in hand||3,385,970|331,063|3,717,033|
|Bank overdrafts|repayable||on demand|(4,268)|(4,018)|(8,286)|
|Debt due within|1|year||(80,230)||(80,230)|
|Debt due after|1 year|||(817,395)|81,282|(736,113)|
|Finance leases||||(29,915)|11,219|(18,696)|
|Liquid investments||||1,920,793|4,878|1,925,671|
|||||4,374,955|424,424|4,799,379|



## 

## 



## 

## 

## 

||||2020|2019|
|---|---|---|---|---|
||||f.||
|Pastor|A lrukwu - Jesus House||314,417|452,960|
|Pastor|K Bamigbade - Inspiration|House|43,597|2,400|
|Pastor|A Sanusi - RCCG Victory|House|23,600|19,600|
|Pastor|A Adeleke - House of Praise Trust||600|12,672|
|Pastor|F Popoola - Praise Tabernacle||25,200|25,200|
|Pastor|W Oladunjoye<br>- Holy Ghost Zone London||12,900|19,800|
||||420,314|532,632|



|Funds|held as interm|ediary|||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||f.||
|RCCG|Unchangeable|God|Parish|Bournemouth|25,970|25,970|
||||||25,970|25,970|