Registered number: 04097822
Charity number: 1084767
REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
CONTENTS
Page
Reference and administrative details of the charitable company, its Trustees and
advisers
Trustees. report
Independent auditors. report on the financial statements
Statement of financial activities
3-11
12-16
17
Balance sheet
18-19
Statement of cash flows
20
Notes to the financial statements
21-47

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Pastor Adeleke Sanusi, Chair & Chief Executive Officer
Pastor Kola Bamigbade
Pastor Andrew Adeleke
Pastor Femi Popoola
Company registered
number
04097822
Charity registered
number
1084767
Registered Office
Redemption House
Gunnels Wood Park, Gunnels Wood Road
Stevenage
Hertfordshire
SG12TA
Company Secretary
Pastor K Bamigbade
Continental Executive
Director
Pastor Modupe Afolabi
Independent auditors
Stephen Michael Associates
Chartered Certified Accountants
Statutory Auditors
201 Borough High Street
London
SE1 1JA
Bankers
Lloyds TSB PIC
105 - 109 Station Road
Edgware
Middlesex HA8 7JL
Barclays Bank PIC
St Johns Wood and Swiss Cottage
P O Box 2764
London
NW36JD
Santander
46 148 High Street North
London
E6 2HJ
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND
ADVISERS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Solicitors
Wellers Law Group LLP
65 Leadenhall Street
London
EC3A 2AD
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the audited financial statements of the charitable
company (RCCG) for the year 1 January 2024 to 31 December 2024. This Annual Report serves the purposes
of both a Trustees, Report and a Directors. Report under company law. The Trustees confirm that the Annual
Report and Financial Statements of the charitable company comply with the current statutory requirements, the
requirements of the charitable company's governing document and the provisions of the Statement of
Recommended Practi￿ {SORP) applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 20191
as amended by Update Bulletin 1 (effective January 2019).
Since the charitable company qualifies as a small company under section 382 of the Companies Act 2006, the
Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and
Directors, Report) Regulations 2013 has been omitted.
Structure, Governance and Management
CONSTITUTION
The organisation is a charitable company limited by guarantee, incorporated on 27th October 2000, as revised
on 5th of January 2001. The company was established under a Memorandum of Association, which stipulates
the objects and powers of the charitable company and is also a registered charity with the charity number
1084767.
There have been no changes in the objects Sin￿ the last Annual Report.
TRUSTEE BOARD AND MANAGEMENT
The management of the charitable company is the responsibility of the Board of Trustees, who are appointed
and co-opted in accordance with the terms of the Articles of Association. A Chief Executive Officer, together
with the Continental Executive Director, manages the Charitable company's day-to4ay administration and
reports the Charitable company's affairs to the Trustees. The Trustees oversee the implementation of the
board's strategic direction and meet regularly to ensure they perform their obligations and statutory duties.
The Trustees are unpaid except for the Chief Executive Officer, also known as the Continental Overseer, as
detailed in note 10 of the financial ststements, where details of the Trustees, expenses are disclosed.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF THE BOARD OF TRUSTEES
No new trustees were appointed to the existing Board in the year under review. The existing Trustees are
seeking to identify potential new trustees with skills and expertise to contribute to the growih of the charitable
company.
Potential trustees or newly appointed members of the Board of Trustees are usually familiar with the framework
of RCCG before their appointment, and they will be required to undergo an induction process. The process
comprises an initial meeting with the Chair and other Trustees, followed by a series of brief sessions with the
Continental Executive Director on the charity's objectives and the Trustees, roles and responsibilities. A
Trustees, Induction Pack will be provided to the Trustee, which includes RCCG'S governing document, the
Trustees, Report, Charity Commission Guidelines such as Doc CC3 and C11, on the Essential Trustee: What
You Need to Know and the Trustees, Expenses and Payment.
Periodically, RCCG organises training events, COnferen￿S and seminars to further enhance the trustees,
governance skills.
ORGANISATIONAL STRUCTURE, GOVERNANCE AND MANAGEMENT
Whilst the RCCG Worldwide is spearheaded by the inspirational visionary Pastor E. A. Adeboye.
The Board of Trustees is the governing body of RCCG in the United Kingdom, and its
decision-making is in accordance with its governing document.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
RCCG'S organisational structure has evolved due to its operations in Europe, and the charitable
company is known as Continental 9 for administrative purposes. The Chief Executive Officer, the
Continental Executive Director, and other staff members at the Central Office collaborate to
achieve the Trustees, goals, vision, and mission.
RCCG'S governance is solely in accordan￿ with the provisions of its Articles of Association.
The Financial Assistance Advisory Committee supports the Board and makes recommendations
on financial requests from RCCG Parishes on Building projects.
Hence, the charitable company is organised so that the Board of Trustees regularly manages its affairs
and meets its legal obligations. The day-to-day administration of the charitable company is delegated to
the Chief Executive Officer and Continental Executive Director, who report the affairs of RCCG to the
Trustees.
THE ARRANGEMENTS FOR SErriNG THE PAY AND REMUNERATION OF THE CHARITABLE
COMPANY'S KEY MANAGEMENT PERSONNEL AND ANY BENCHMARKS, PARAMETERS OR CRITERIA
USED IN SETTING THEIR PAY.
In the Redeemed Christian Church of God, the remuneration of the charitsble company's key management
personnel is guided by the following..
Define the Positions. The Charitable company creates job descriptions for all the necessary roles. Most
roles will require a minimum educational qualification or desirable experience.
Assess and Rank the Roles: The Charitable company will assess the different roles based on difficulty
and responsibility. Senior roles with greater responsibility would command higher pay.
Monetsry Value: To determine a monetary value for the job, RCCG considers market rates and what
other charities might be offering before deciding on salaries.
Maintsin the Plan: The salaries of RCCG'S employees are increased annually in line with inflation.
RISK MANAGEMENT
The Board of Trustees has adopted an evaluation method to identify and assess the risks to which RCCG
is exposed. After identifying and reviewing these risks, systems and strategies are established to manage
those risks. The evaluation method is based on a SAS matrix model.. Spotting, Assessing, and Solving
the risks.
All major activities are subject to a risk review. The significant risks to which RCCG faces include those
related to governan￿, specific operational areas, safeguarding responsibilities, and the financial
management of the charitable company.
Safeguarding children and adults at risk. RCCG continues to ensure that its churches provide a
framework of best practice for protecting those who attend RCCG Parishes. A model and an extensive
safeguarding policy are in place, and safeguarding awareness training is ongoing for all volunteers and
ministers in regulated activities.
RCCG relies on donations from RCCG Parishes and individual donors. The Trustees believe that setting
and monitoring reserve levels will enable the charitable company to achieve its objectives and ensure that
it is protected from the risk of disruption to the charitable company's operation.
RCCG has internal controls over critical financial systems, which continue to monitor and examine the
operational and business risks faced by the charitable company., the Trustees have established effective
systems to mitigate those risks.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
PERSONS WITH SIGNIFICANT CONTROL REGISTER
Further to the provisions of Part 21A of the Companies Act 2006 relating to individuals with significant control
over the company and relevant legal entities {RLEs), the charitable company is not aware of any registrable
person or registrable legal entity with significant control over the charitable company.
OBJECTIVES AND ACTIVITIES
POLICIES AND OBJECTIVES
The principal objects of the Redeemed Christian Church of God, as set out in the charitable company's
memorandum of association, are the advan￿ment of the Christian faith worldwide and the relief of poverty.
STRATEGIES FOR ACHIEVING OBJECTIVES
The charitable company has adopted the following strategies for achieving the above objectives=
Establishment of Churches within the United Kingdom and Continental Europe.
Recruitment, training and the deployment of ministers on the mission field.
Organising cOnferen￿S and events with relevant speakers and ministers to train, guide, and
inspire ministers.
Assessment, selection and ordination of new ministers.
Administrative support for affiliated Charities and Christian events,. and
Financial support for affiliated Charities and Mission Agencies in the UK and
Overseas.
ACTIVITIES FOR ACHIEVING OBJECTIVES
RCCG, as a Christian faith-based charity, can testify and give glory to God in all its activities throughout 2024.
The activities for achieving the charity's objectives include
Provision of resources to 933 independent RCCG Churches in the UK and Overseas.
Support for like-minded charities, providing welfare support to members, and organising
conferences, training sessions, and events which are set to act as a catalyst to the advancement
of Christian Faith and the relief of povety-
Programmes - During the year, RCCG organised a series of programmes such as the Continental
Ordained Ministers Conference, UK & Europe Prayer Meetings, RCCG Ecumenism Week, Week Of
Prayer For Christian Unity, Pastors Assembly, Safeguarding Training, Personal Assistants, And Church
Administrators, Conference, Safe Men Safer Communities Conference, Europe Continent Leadership
Conference, Emerging Leaders Conferen￿, Teenagers, Teachers, Conference, Sunday School
Conference, Strategic Training On Awareness Of Regulations (STARI Conference, Social Action Week,
Christian Media And Communicators, Conferen￿, Education Week (For Education Ministries in RCCGI
and Workers, Rally, Safeguarding Training, Evangelism Workshops, National Wonders of Prayer Day,
Festival of Hymns and Church Planters Course {CPC).
All these programmes were designed in alignment with the charitable company's objectives and in
support of RCCG Parishes, thereby creating a substantive impact in their immediate congregation and
the local communities.
RCCG continues to re￿1ve contributions from its parishes, which are used to finance its Central Office,
support local parishes, and fund mission (evangelistic) work both locally and worldwide.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
PUBLIC BENEFIT STATEMENT
The Board of Trustees has met its duties in complying with the provisions of sections 4 and 17 of the
Charities Act 2011, having due regard to the Charity Commission's general guidance on public benefit.
Consideration has been given to the Charity Commission's public advice on advancing religion for the
public benefit. All activities enable RCCG to fulfil its objective of advancing the Christian faith.
ACHIEVEMENTS AND PERFORMANCE
The Charity is grateful for the generous efft)rts of its volunteers involved in service provision., it is estimated that
over 6,000 volunteer hours were provided during the year. If this is valued at £11.44 an hour, the volunteer effort
exceeds £68,640.
REVIEW OF ACTIVITIES
RCCG serves as an administrative and resource hub for Churches and Charities operating with the RCCG
name in the UK. RCCG further provides encouragement and guidance to affiliated churches, sharing a common
purpose of advancing the Christian faith and alleviating poverty worldwide, so that they too may maximise their
ability to achieve their objective of advancing the Christian faith.
During the year under review, the RCCG undertook various activities to benefit the public.
Some of these activities are summarised below:
RCCG Affiliated Churches
Our collaboration and practical support for RCCG-affiliated churches across the United Kingdom and Europe
have been instrumentsl in our core objective of advancing the Christian Faith worldwide. The charitable
company continues to provide practical support to RCCG Parishes, significantly facilitating access to the
Christian Faith and pla￿$ of worship for various members of the public, families, and individuals across the
United Kingdom and some countries in mainland Europe. The support also extends to financial assistance to
RCCG Parishes towards the acquisition of properties for places of worship and governance training for
Trustees, Pastors and their key staff. This provision ensures that new church Leaders, church planters, and
Pastors who are passionate about positively impacting their communities are adequately resourced to deliver
the organisation's objectives. Our partnerships have proven to yield positive contributions to both the physical
and spiritual life of the members and the public.
The Redeemed Christian School of Missions, RECSOM
RCCG continues its financial support to the Redeemed Christian School of Missions (RECSOM}. RECSOM
trains, equips and mobilises students for Christian mission. RECSOM provides an education that is accessible
to students from a diverse range of educational backgrounds and professions. Its training philosophy is holistic
and embraces a blended learning approach. Students of the School of Missions benefit from being taught by a
seasoned team of lecturers from various organisations, including those serving as missionaries, theologians, or
missiologists in Europe. RCCG believes that its support of the School of Missions furthers its primary objective
of advancing the Christian faith.
Good Faith Foundation
In line with our primary object of relieving poverty worldwide, we have finally supported the Good Faith
Foundation in its Churchworks Commission. The Churchworks Commission helps these churches respond
practically to urgent social issues in local communities, with an emphasis on supporting the most vulnerable in
the community. The Churchworks Commission exists to bring together the Church and the Government to
support the vulnerable in the country and communits'es.
Feast of Esther- Women Leadership Conference
The Feast of Esther serves as a strategic resource for the Christian woman in leadership in the Church. The
purpose of the Feast of Esther is to empower female Leaders of Christian Ministries, their female assistants,
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
and female heads of ministries, especially within the Evangelical Community. This initiative helps these women
provide mentorship and support to other women in their ministries. This is done by coaching the women on how
to develop excellent ministry skills that will impact the Church. RCCG continues to financially support this
initiative for their annual day and residential events.
MARANATHA WORLDWIDE MINISTRIES
RCCG, in line with its primary object of advancing the Christian Faith, financially supported the Maranatha
Worldwide Ministries in its Meal from Christ Initiative in December 2024. The Maranatha Worldwide Ministries
outreach is a practical expression of the love of Christ, which brought love, joy and hope to our communities.
Pastors, Trustees & Key Staff Legal Compliance Resourcing
RCCG has continued to discharge various projects under its STAR {Strategic Training on Awareness of
Regulations) initiative. This initiative includes a series of webinars, a STAR conference, and training toolkits to
provide governance support and resources to Pastors, Trustees, and Key Staff of RCCG-affiliated churches.
The STAR Conference in the year under review focused on Effective Governance, and the Chartered
Governance and Compliance Professionals gave training. The training centred on the Charity Governance Code
to ensure the effectiveness of RCCG Trustees.
A Governance Improvement Plan was also given to the attendees to enable them to note areas of improvement
and take proper action.
This training has been beneficial to RCCG Parishes, and it continues to mitigate governance risk, thereby
ensuring that the resources of these charities are effectively managed and utilised for the benefit of the public
and operational efficiency.
Festival of Life, Slovakia
In line with our primary objective of advancing the Christian Faith worldwide, the charitable company organised
and financially supported the hosting of the Festival of Life (FOL) in Bratislava in April 2024. The hosting of the
FOL Bratislava is in line with RCCG'S Ecumenical Statement of promoting Christian unity- There was a plentiful
harvest of souls and spiritual renewal among the attendees., with the theme "Let There Be Light., The event
focused on spiritual renewal.
EUROCON 2024 Spain
EUROCON is a bi-annual cross-cultural gathering of Christians across Europe with a united vision to advance
the Christian faith and to bring people of different cultures together.
EUROCON is a cooperation of The Redeemed Christian Church of God with other Christian denominations to
train, equip, and commission Christians to go into their sphere of influence and spread the gospel effectively.
Safeguarding Training
The Trustees, duty to protect people and safeguard responsibilities is a governance priority. This duty is
fundamental to the operations of the RCCG and RCCG Affiliated Churches.
RCCG conducted an in-person Safeguarding and Child Protection training session in the year under review.
The Safeguarding training emphasises the need to promote good practice and ensure that everyone involved in
providing support and activities to children and young people in RCCG understands their responsibility to protect
the childrenlyoung people and those who use our services.
Training was also given on taking appropriate and immediate action if there are suggestions that a childlyoung
person is being abused.
Attendees were also trained on how to respond in a supportive manner to any childlyoung person who alleges
or discloses that abuse is happening and how to minimise opportunities.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
INVESTMENT POLICY AND PERFORMANCE
As far as possible, funds will be retained in interest-bearing accounts. The Board of Trustees
continues to explore other safe investment strategies to ensure better returns. Previous dialogues
with the charitsble company Investment managers have not evolved to a stage where the trustees
felt that the decision would be in the best interest of the charitable company.
In addition, the Trustees are looking at investment options based on the requisite legal and
financial advicelguidance, and an informed decision will be made in due course.
FACTORS RELEVANT TO ACHIEVE OBJECTIVES
Spiritual inspiration and financial responsibility are key factors in achieving our objectives. This is because
supporting all the necessary activities needed to achieve our objectives can mostly be done by godly inspiration
and sufficient finance and accountability.
Review of Financial position at the end of the reporting period
RCCG continues to perfomi better than expected in the reporting year. RCCG is mainly funded by
donations from churches that usually hold in-person and online services.
RCCG continues to resource, enable and organise virtual trainingslconferences for the parishes on how
to hold services online. The RCCG also assisted with information on the various methods of collecting
donations online, which enabled the expected income to stabilise.
Reserve Policy
The Board of Trustees have implemented a policy whereby the unrestricted funds not committed or invested in
tangible fixed assets held by the charitable company should be six (6) months of annual expenditure.
These reserve levels would enable the charitable company to continue its current activities in the event of a
significant funding drop. The free reserve for the year is £2,294,000 {2023 - £768,902).
The free reserves were used in acquiring the campground, which was purchased at £5m.
The charity has a large amount in its resenies with the view of acquiring a camp, which has been the vision for
the past 20 years.
The charity is confident that the free reserves target would be met because of the increase in parishes, which
translates to an increase in donations. Mso, the charity continues to ensure it is prudent in its expenditures for
the year.
The Board of Trustees periodicalty reviews its reserves policy in light of the wider strategic plans. This is to
ensure that the reserve level is appropriate to our current position and annual expenditure and to take into full
cognisance the charitable company's future strategic plans.
Principal Funding
This is provided mainly through contributions and donations from RCCG-affiliated Churches.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
PLANS FOR THE FUTURE
FUTURE DEVELOPMENTS
RCCG'S strategy primarily hinges on the growth of the RCCG-affiliated Churches and establishing more
churches in the UK and Continental Europe. Hen￿, the Charity's plans are still hinged on planting 1000
Parishes and RCCG Vision 2032.
FREGH - RCCG continues to utilise the strategic initiative FREGH as a catalyst for church planting, church
growth and church development. FREGH is an acronym for (Family Church, Reproducing Church, Emerging
Leaders, Governing Church and Healthy Church).
Vision 2032 - RCCG charity is part of a global vision launched by Christian leaders in Amsterdam, Netherlands,
to preach the gospel to everyone by 2032, advancing the Christian faith. The charity launched a Month of
Explosive Growth Drive in July 2024 in the UK.
Let's Go A Fishing This is one of the long-standing missional and church-planting initiatives of RCCG.
Let's Go A Fishing was introduced in the UK in De￿mber 2023 and on the European continent in 2024.
Chaplaincy - RCCG continues to offer, provide, and support the Prison Chaplaincy. The Prison Chaplains
provide pastoral care and help build relationship that changes lives within a diverse community-
RCCG is a Board Member and, as an Endorsing Authority, can send and support candidates applying for
military chaplaincy to the armed services. This appointment enables the charitable company to demonstrate the
love of God through the delivery of pastoral care and spiritual support to members of the armed forces,
irrespective of their faith.
MEMBER'S LIABILITY
The Board of Trustees of the charitable company guarantees to contribute an amount not exceeding £10 to the
assets of the church in the event of winding up.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Board of Trustees, Responsibilities Statement
The Board of Trustees (who are also directors of Redeemed Christian Church of God for the purposes of
Company law) are responsible for preparing the Board of Trustees, report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (The United Kingdom Generally
Accepted Accounting Practice)-
Company law requires the Board of Trustees to prepare financial statements for each financial year. Under
Company law the Board of Trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company 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 required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP {FRS 102).,
make judgements and 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 concern basis unless it is appropriate to presume
that the charitsble company will continue operating.
The Board of Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any financial position of the charitable company and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of Inforniation to Auditor
Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors
are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be
aware of any relevant audit information and to establish that the charity's auditors are aware of that
information.
AUDITORS
The charitable company's auditors, Stephen Michael Associates, have indicated their willingness to continue in
office and offer themselves for re appointment at the next Annual General Meeting.
In preparing this report, the Board of Trustees have taken advantage of the small companies, exemptions
provided by section 415A of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Pastor Femi Popoola
Date: 24 September 2025
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF REDEEMED CHRISTIAN CHURCH OF
GOD
Opinion
We have audited the financial statements of Redeemed Christian Church of God (the 'charitable company,) for
the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance sheet, the
Statement of cash flows and the related notes, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice}.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of
its incoming resources and application of resources, including its income and expenditure for the year
then ended.,
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least fvrfelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilikn'es of the Trustees with respect to going concern are described in the
relevant sections of this report.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF REDEEMED CHRISTIAN CHURCH OF
GOD (CONTINUED)
Other inforniation
The other information comprises the information included in the Annual report other than the financial
statements and our Auditors, report thereon. The Trustees are responsible for the other information contained
within the Annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitiy stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, report ft)r the financial year for which the financial statements are
prepared is consistent with the financial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, report.
We have nothing to report in respect of the followng matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of Trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entided to prepare the financial statements in accordan￿ with the small
companies regime and take advantage of the small companies, exemptions in preparing the Trustees,
report and from the requirement to prepare a Strategic reporL
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF REDEEMED CHRISTIAN CHURCH OF
GOD (CONTINUED)
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
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REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF REDEEMED CHRISTIAN CHURCH OF
GOD (CONTINUED)
Auditors, responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about vthether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our prO￿dureS are capable of detecting irregularities,
including fraud is detailed below..
We identified areas of laws and regulations that could reasonably be expected to have a material
effect on the financial statements from our sector experience through discussion with the Trustees
and other management (as required by auditing standards).
We had regard to laws and regulations in areas that directly affect the financial statements
including financial reporting and tsxation legislation.
We considered the extent of compliance with those laws and regulations as part of our procedure
on the related financial statement items.
With the exception of any known or possible non-compliance, and as required by auditing
standards, our work in respect of these was limited to enquiry of the Trustees.
We communicated identified laws and regulations throughout our team and remained alert to any
indications of non-compliance throughout the audit.
We obtained a legal letter from the charity's solicitors and enquire of those charged with
governan￿ and management around actual and potential litigation and claims.
We reviewed minutes of trustees. meetings, and other records with view to ensuring that there are
no undisclosed related paty transactions. In addition, we explained the meaning of related paty
transaction to management and these charged with governance.
We addressed the risk of fraud through management override of controls, by testing the
appropriateness ofjournal entries and other adjustments,. assessing whether the judgements
made in making accounting estimates are indicative of a potential bias., and evaluating the
business rationale of any significant transactions that are unusual or outside the normal course of
business. In addits'on, we obtained confirmation of income from donations received directly from
donors.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements,
recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,
misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and
the further removed non-complian￿ with laws and regulations is from the events and transactions reflected in
the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial ststements is located on the Financial
Page15

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF REDEEMED CHRISTIAN CHURCH OF
GOD (CONTINUED)
Reporting Council's website at: www.frc.o
Auditors, report.
.uklauditorsres
onsibilities. This description forms part of our
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an Auditors, report and for no
other purpose. To the fiJllest extent permitted by law, we do not ac￿pt or assume responsibility to anyone other
than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions
we have formed.
Mr Stephen Oladapo Odeleye (Senior statutory auditor)
for and on behalf of
Stephen Michael Associates
Chartered Certified Accountants
Statutory Auditors
201 Borough High Street
London
SE1 1JA
29 September 2025
Page 16

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
622,821
5,305,562
462,048
258,579
5,928,383
462,048
258,579
5.898,405
521,135
268, 146
Investments
Total income
622,821
6,026,189
6,649,010
6,687, 686
Expenditure on:
Charitable activities
1,383,198
4,605,168
5,988,366
4.448,922
Total expenditure
1,383,198
4,605,168
5,988,366
4.448, 922
Net movement in funds before other
recognised gainsl{losses)
(760.377)
1.421,021
660,644
2,238, 764
Other recognised gainsl(losses):
Gainsl(losses) on revaluation of fixed
assets
39,000
39,000
(185,000)
Net movement in funds
{760.377)
1.460,021
699,644
2,053, 764
Reconciliation of funds:
Total funds brought forward
Net movement in funds
4.253,597
{760,377
12.257,549
1,460,021
16,511,146
699,644
14,457,382
2.053, T64
Total funds carried forward
3,493,220
13,717,570
17,210,790
16,511,146
Page17

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
REGISTERED NUMBER: 04097822
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
11
8,922,655
10,000
2,294,000
8. 968,534
10,000
2, 255,000
13
Investment property
12
11.226,655
11,233,534
Current assets
Stocks
Debtors
14
15
47,649
688.557
1,604,769
4.474.743
16.882
614,602
3,515,679
1, 968, 738
Investments
Cash at bank and in hand
16
6,815,718
6.115.901
Current liabilities
Creditors.. amounts falling due ￿￿thIn one
year
17
(386.105)
(273,815)
Net current assets
6,429,613
5, 842,086
Total assets less current liabilities
17.656,268
17,075,620
Creditors.. amounts falling due after more
than one year
18
(445,478)
(564,474)
Net assets excluding pension asset
17,210,790
16,511,146
Total net assets
17.210,790
16,511,146
Charity funds
Restricted funds
Unrestricted funds
20
3,493,220
13.717,570
4, 253, 597
12,257,549
20
Totsl funds
17,210,790
16,511,146
Page18

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
REGISTERED NUMBER: 04097822
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Pastor Femi Popoola
Date: 24 September 2025
The notes on pages 21 to 47 form part of these financial statements.
Page19

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
491.421
1,652,594
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
258.579
256, 796
4,299
(60.935) (5, 140,974)
Net cash provided byl(used in) investing activities
197,644
14,879,879)
Cash flows from financing activities
Repayments of borrowing
New finance leases
(99,704)
(80,414)
77,807
Net cash used in financing activities
(99,704)
{2,607)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
589.361
13.229.892)
5,477.893
8, 707, 785
Cash and cash equivalents at the end of the year
6,067.254
5, 477,893
The notes on pages 21 to 47 form part of these financial statements
Page 20

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General information
Redeemed Christian Church of God ('RCCG') is a charitable company registered with the Companies
House and Charity Commission in England & Wales. The office address is Redemption House, Gunnels
Wood Park, Gunnels Wood Road, Stevenage, Hertfordshire SG12TA.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance 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 Companies Act 2006.
Redeemed Christian Church of God 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 financial statements have been prepared on a going concern basis as the trustees believe that
no material uncertainties exist. The trustees have considered the cashflow forecast and the
projected income and expenditure for 12 months from authorising these financial statements. The
level of free reserves and funds held is sufFicient for the charity to be able to continue as a going
concern.
2.3 Income
All income is recognised once the charitable company has entitlement to the income, it is probable
that the income will be re￿iVed and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 21

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
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
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 between those
activities on a basis consistent 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 directly undertaking the activities which further the
charitable company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of financial activities upon the completion of the relevant performance-related
conditions. Other grants that are not subject to performance-related conditions are credited to the
Statement of financial activities as the grant proceeds are received. Grants received prior to the
revenue recognition criteria being satisfied are recognised as a liability.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charitsble company- this is normally upon notification of the interest paid or payable by
the institution with whom the funds are deposited.
2.7 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.
Page 22

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.7 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 bases:
Freehold property
Long-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
2 % straight line
20/0 Straight line
25°/o reducing balance
10°/o Straight line
33.33 % straight line
33.33 % straight line
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance sheet date, unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl
on investments, in the Statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.
2.10 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.
2.11 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.
Page 23

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance 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 charitable company anticipates it will pay to settle
the debt or the amount it has re￿iVed 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.
2.13 Financial instruments
The charitable company 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 subsequentiy measured at their settlement value with the ex￿ptIon of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.14 Finance leases and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed
assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their
useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases
are those where substantially all of the benefits and risks of ownership are assumed by the
charitable company. Obligations under such agreements are included in creditors, net of the finance
charge allocated to future periods. The finance element of the rental payment is charged to the
Statement of financial activities so as to produ￿ a constsnt periodic rate of charge on the net
obligation outstanding in each period.
2.15 Pensions
The charitable company operates a defined contribution pension scheme and the pension charge
represents the amounts payable by the charitable company to the fund in respect of the year.
Page 24

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.16 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 charitable company and which have not been designated
for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charitable company 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.
Page 25

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Donations
622,821
5,305,562
5,928,383
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Donations
1.767, 102
4, 131.303
5, 898, 405
Income from charitable activities
Unrestricted
funds
2024
Total
funds
2024
Sale of books, tapes etc
Ordained Ministers Conference
Sundry income
126,554
322,322
13,172
126,554
322,322
13.172
462,048
462,048
Unresfricted
funds
2023
Total
funds
2023
Sale of books, tapes etc
Ordained Ministers Conference
159, 7T0
354, 238
7.127
159, 7T0
354, 238
7, 127
Sundry income
521, 135
521, t35
Page 26

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Investment income - local cash
105,948
152,631
105.948
152,631
Investment income - other local investments
258,579
258,579
Unrestricted
funds
2023
Total
funds
2023
Investment income - local cash
125,384
142, 762
125,384
142, 762
Investment income - other local investments
268, 146
268, 146
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Conference and events
Parish liason
Missionary and charitable giving
2,441,435
1,083,453
1,080,280
2,441,435
2,466,651
1,080,280
1,383,198
1,383,198
4,605,168
5,988,366
Page 27

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure on charitable activities Icontinued)
Summary by fund type Icontinued)
Restricted Unrestricted
funds
funds
2023
2023
Total
2023
Conference and events
1,892, 197
977,520
1,483,014
1,892, 197
1,044, 711
1,512,014
Parish liason
Missionary and charitable giving
67,191
29, 000
96,191
4,352, 731
4,448, 922
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Conference and events
Parish liason
1.118,544
266,822
1.080,280
1,322,891
2,199,829
2,441,435
2,466,651
1,080,280
Missionary and charitable giving
2,465,646
3,522,720
5,988,366
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Conference and events
900, 063
112,724
1.512,014
992, 134
931,987
1,892, 197
1,044, 711
1,512,014
Parish liason
Missionary and charitable giving
2.524, 801
1.924. 121
4,448, 922
Page 28

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities (continued)
Analysis of direct costs
Missionary
and
charitsble
giving
2024
Conference
and events
2024
Parish
liason
2024
Total
funds
2024
Staff costs
446.158
672,386
446.158
672,386
266,822
Conferences and events
Ministry expenses
Charitable donations to organisations - United
Kingdom
Charitable donations to organisations - Europe
266,822
225,136
855,144
225,136
855.144
1,118,544
266,822
1,080,280
2,465,646
Missionary
and
charitable
giving
2023
Conferen
and events Parish liason
2023
2023
Total
funds
2023
Staff costs
356, 596
543,467
356, 596
543,467
112, 724
Conferences and events
Ministry expenses
Charitable donations to organisations - United
Kingdom
Charitable donations to organisations - Europe
112,724
813,591
698,423
813,591
698, 423
900, 063
112,724
1,572,014
2, 524, 801
Page 29

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities (continued)
Analysis of support costs
Conference
and events
2024
Parish
liason
2024
Total
funds
2024
Staff costs
Depreciation
Ministry expenses
Premises costs
Communication costs
864,431
91,488
864,431
106,814
13,431
1,581,234
132,254
1,069
236,014
55,814
63,190
27,993
21,592
15,943
273
15,326
13,431
1,581,234
132,254
Volunteer expenses
Travel and accomodation
Vehicle running cost
Bookshop expenses
Staff training
Subscription
Equipment Hire
Post and packaging
Consultancy
Insurance expenses
Welfare
Computer cost
Cleaning and refuse collection
Bank charges
Exchange rate (gain)Iloss
Bad debt
1,069
236,014
55,814
63,190
27,993
5,067
15,943
273
16,525
27,680
150,914
31,755
25,077
5,332
45,364
{206)
27,680
150,914
31,755
25,077
29,019
45,364
{206)
12,600)
95,665
23,687
{2,600}
36,463
Governance costs
59,202
1,322,891
2,199,829
3,522,720
Page 30

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
Conference
and events Parish liason
2023
2023
Total
funds
2023
Staff costs
720,293
68,846
720, 293
81,959
37, 743
237, 632
100, 868
1,337
147,774
17,049
59,371
50, 556
17,862
15,278
1, 753
76,490
134,572
58,351
32,807
16,454
38, 222
(1,259)
(600)
79, 609
Depreciation
Ministry expenses
Premises costs
Communication costs
13,113
3T,743
237, 632
100, 868
Volunteer expenses
Travel and accomodation
Vehicle running cost
Bookshop expenses
Staff training
Subscription
Equipment Hire
Post and packaging
Consultancy
Insuran￿ expenses
Welfare
Computer cost
Cleaning and refuse collection
Bank charges
{Surplus)Ideficit on disposal of fixed assets
Bad debt
1,337
147,774
17,049
59,371
50, 556
2,170
15,278
1, 753
76,490
134,572
58,351
32,807
15,692
16,454
38,222
(1,259)
(600)
6,548
Governance costs
73,061
992, 134
931,987
1,924, 121
Page 31

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Auditors, remuneration
2024
2023
Fees payable to the charitable company's auditor for the audit of the
charitable company's annual accounts
Fees payable to the charitable company's auditor in respect of=
All non-audit ServI￿S not included above
8,350
7,410
3.660
3,504
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
1,243,233
117.627
33,384
1. 020,625
97,280
27,679
1,394,244
1, 145,584
The average number of persons employed by the charitable company during the year was as follows..
2024
2023
Management
Administration and activity
28
24
30
25
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2024
2023
In the band £80,001- £90,000
In the band £90.001- £100.000
Page 32

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.
Trustees, remuneration and expenses
During the year, one (2023 - NIL) trustee was paid as Chief Excutive Officer. The payments are allowed
within the charity's governing document.
The value of Trustees. remuneration and other benefits was as follows..
2024
2023
Pastor Adeleke Sanusi
Remuneration
22,000
660
Pension contributions paid
During the year ended 31 December 2024. no Trustee expenses have been incurred (2023 - £NIL).
11. Tangible fixed assets
Long-term
leasehold Other fixed
property
assets
Freehold
property
Total
Cost or valuation
At 1 January 2024
Additions
6,635,892
45.729
2,537,528
729,916
15,206
9,903,336
60.935
At 31 December 2024
6,681,621
2,537,528
745,122
9,964,271
Depreciation
At 1 January 2024
Charge for the year
348,839
49,550
585,963
57,264
934.802
106,814
At 31 December 2024
398,389
643,227
1,041,616
Net book value
At 31 December 2024
6,681,621
2,139,139
101,895
8,922,655
At 31 December 2023
6. 635. 892
2. 188,689
143, 953
8. 968, 534
The net book value of motor vehicles held under finance leases or hire purchase contracts as at 31
December 2024 was £65,230 (2023 £87,807).
Included in land and buildings is freehold lands at cost of £1,600,000 (2023 - £1,600,000), and leasehold
properties land of £60,000 (2023 - £60,000) which are not depreciated.
Page 33

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12. Investment property
Freehold
investment
property
Valuation
At 1 January 2024
Gainsl(losses) on revaluation
2,255,000
39.000
At 31 December 2024
2,294,000
The 2024 valuations were made by the trustees. on an open market value for existing use basis.
Page 34

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
Fixed asset investments
Investments
in
subsidiary
companies
Cost or valuation
At 1 January 2024
10,000
At 31 December 2024
10,000
Net book value
At 31 December 2024
10,000
At 31 December 2023
10,000
Principal subsidiaries
The following was a subsidiary undertaking of the charitable company..
Name
Company
number
Registered office or principal Principal activity
place of business
Redemption Hub Limited
11262408
Redemption House, Gunnels
Letting and operating
Wood Park, Gunnels Wood
of conference and
Road, Stevenage, Hertfordshire exhibition ￿ntreS
SG12TA
Class of
shares
Holding
Included in
consolidation
Ordinary
100% No
The financial results of the subsidiary for the year were..
Name
Net assets
Redemption Hub Limited
622
Page 35

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
Fixed asset investments Icontinued)
The subsidiary undertaking has been dormant for a number of years and therefore is not included in
consolidation.
14. Stocks
2024
2023
Finished goods and goods for resale
47,649
16,882
15. Debtors
2024
2023
Due after more than one year
other debtors
500,000
500,000
Due within one year
Other debtors
508,257
134.172
46,128
15,448
83,026
16,128
Prepayments and accrued income
Tax recoverable
688,557
614,602
16.
Current asset investments
2024
2023
Unlisted investments
1,604,769
3,515,679
Page 36

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
17.
Creditors: Amounts falling due within one year
2024
2023
Bank overdrafts
1,342
80,413
105,464
6, 524
622
Bank loans
90,903
127.658
12,258
622
Trade creditors
Credit card outstanding
Amounts owed to group undertakings
Other taxation and social security
Obligations under finan￿ lease and hire purchase contracts
Pension fund contribution payable
Other creditors
Accruals and deferred income
58.589
8,802
10,063
9,436
67,774
51,936
5,291
6,837
15,386
386,105
273,815
Page 37

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18.
Creditors: Amounts falling due after more than one year
2024
2023
Bank loans
385,275
60,203
486,667
77,807
Net obligations under finan￿ lease and hire purchase contracts
445.478
564,474
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the
reporting date is..
2024
2023
Payable or repayable by instslments
417,645
417,645
417,645
417,645
The bank loan is a Lloyds Bank mortgage secured on the Offi￿ premises at Redemption House, Gunnels
Wood Park, Stevenage, Hertfordshire SG12TA. The loan will mature on 25 September 2029.
19.
Financial instruments
2024
2023
Financial assets
Financial assets measured at fair value through income and expenditure
6,079.512
5,484,417
Financial assets measured at fair value through income and expenditure comprise cash at bank and in
hand.
Page 38

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20. Ststement of funds
ststement of funds - current year
Balance at
31
Gainsl December
(Losses)
2024
Balance at 1
January
2024
Income Expenditure
Unrestricted funds
Designated funds
Feasibility Study
900,000
900,000
General funds
General Funds
11.978.020
(620,471)
6.026,189
(4,605.168)
13,399,041
(581,471)
Revaluation reserve
39,000
11,357,549
6,026,189 14,605,168)
39,000 12,817,570
Total Unrestricted funds
12,257,549
6,026,189 14,605,168)
39,000 13,717,570
Restricted funds
Tsunami Relief Contribution
Haiti Appeal
Camp Ground Building
Benevolence Offering
New Auditorium
2.410
21.917
1.645,840
2,410.549
125.362
21,819
25.700
2,410
21,917
685,505
2,609,607
125,362
21,819
25,700
900
422,863
199,058
11,383.198)
Lloyds Philippines Appeal
Love Christmas Project
Let's Go-A-Fishing
900
4,253,597
622,821
11,383,198)
3,493,220
Total of funds
16,511,146
6,649,010 15,988,366)
39,000 17,210,790
Page 39

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20. Ststement of funds (continued)
Designated funds
The designated funds are unrestricted general reserves which the trustees have
earmarked for specific purposes as follows:
Feasibility Study fund is for the development of a residential facility at the
Redeemed Christian Church of Gods camp in Nigeria. Part of the objective of
the residential facility is to generate additional income for the charity whereby the
accommodation will be available in the first instance to the United Kingdom
delegates attending RCCG conferences in Nigeria.
Restricted funds
Tsunami Relief Contribution fund balan￿ is the unexpended part of donation
brought forward for the Tsunami disaster.
Haiti Appeal are donations collected towards helping charitable organisations
currently working in Haiti.
Camp Ground Building fund is donations being received for the purchase
and or building an arena for retreat, conferences, training and developments of
Pastors and members of the church. This is in addition to the funds raised for the
purchase maintenance and development of the Redemption Camp Pierrepont.
With over 35 acres of green land and space, RCCG UK has monumental plans
to transform, refurbish and maintain the estate's historic essence.
Covenant Partners (Benevolen￿ Offering) fund is the balan￿ of donations
received from individuals who have pledged to support the charitable company.
The New Auditorium fund are donations re￿iVed directly from individuals,
specifically as personal contributions toward the completion of the Main
Auditorium for Worship at the RCCG Camp Ground.
The Lloyds Philippines Appeal Fund are donations received toward helping
charitable organisations working in the Philippines.
The Love Christmas Project Fund are donations received toward the Love Your
Neighbour'LoveChristmas' Initiative.
The Let's Go-A-Fishing fund is donations re￿iVed towards this named outreach
event in 2025.
The charitsble company's resources are enough to finance these funds.
Page 40

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20. Ststement of funds (continued)
ststement of funds - prior year
Balance at
31
December
2023
Balan￿ at
l January
2023
Gainsl
(Losses)
Income Expenditure
Unrestricted funds
Designated funds
Feasibility Study
900,000
900, 000
General funds
General Funds
10,974,696
4.920,584
(4,352, 731)
(185,000) 11,357,549
Total Unrestricted funds
11.874.696
4.920. 584
(4.352, 731)
(185,000) 12,257.549
Restricted funds
Tsunami Relief Contribution
Haiti Appeal
Camp Ground Building
Benevolence Offering
New Auditorium
Lloyds Philippines Appeal
Love Christmas Project
Health Village Fund
2.410
21,917
170.327
2, 195,506
125.007
21,819
25. 700
20,000
2,410
21,917
1,645,840
2,410,549
125.362
21,819
25, 700
1.542. 704
215,043
355
(67, 191)
9,000
(29, 000)
2, 582,686
1,767, 102
(96, 191)
4,253, 597
Total of funds
14,457,382
6,687, 686
(4,448, 922)
(185,000) 16,511,146
Page 41

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
21. Summary of funds
Summary of funds - current year
Balance at
31
Gainsl December
(Losses)
2024
Balance at 1
January
2024
Income Expenditure
Designated funds
General funds
Restricted funds
900,000
11.357.549
4,253,597
900,000
39,000 12,817,570
3,493,220
6.026,189
622,821
14,605.168)
11,383,198)
16,511,146
6,649,010 15,988,366)
39,000 17,210,790
Summary of funds - prior year
Balance at
31
December
2023
Balan￿ at
l January
2023
Gains/
(Losses)
Income Expenditure
Designated funds
General funds
900.000
10,974,696
2. 582.686
900. 000
(185,000) 11,357,549
4,253, 597
4.920,584
1.767. 102
(4,352, 731)
(96, 191)
Restricted funds
14.457.382
6.687. 686 (4.448, 922)
(185,000) 16,5tI.146
Page 42

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
22.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
8,922,655
10,000
2,294,000
3,322,498
{386,105)
(445,478)
8,922,655
10,000
2,294,000
6,815,718
1386,105)
1445,478)
Investment propety
Current assets
3,493,220
Creditors due within one year
Creditors due in more than one year
Total
3,493,220 13,717,570 17,210,790
Analysis of net assets between funds - prior period
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Investment propety
Debtors due after more than one year
Current assets
8, 968, 534
10.000
2,255, 000
500, 000
1,362,304
(273,815)
(564, 474)
8, 968, 534
10,000
2,255, 000
500, 000
5,615,901
(273,815)
(564, 474)
4,253, 597
Creditors due within one year
Creditors due in more than one year
Total
4,253,597 12,257,549 16,511, 146
Page 43

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
23.
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)
660,644
2, 238, 764
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Lossl(profit) on the sale of fixed assets
Decreasel(increase) in stocks
Increase in debtors
Increase in creditors
106.814
1258.579)
81,959
(256, 796)
(1,259)
2, 137
(466,024)
53,813
(30,767)
(73.955)
87,264
Net cash provided by operating activities
491,421
1,652,594
24.
Analysis of cash and cash equivalents
2024
2023
Cash in hand
4,474,743
1,604,769
(12.258)
1,968,738
3,515,679
(6,524)
Notice deposits (less than 3 months)
Credit card outstanding
Total cash and cash equivalents
6,067,254
5, 4T7, 893
Page 44

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25. Analysis of changes in net debt
At1
January
2024 Cash flows
At31
December
2024
Cash at bank and in hand
Bank overdrafts repayable on demand
Debt due within 1 year
Debt due after 1 year
Finance leases
Liquid investments
1,968.738
2.506,005
(1,342)
1,342
(92.228)
120,996
1486,667)
101,392
(77.807)
8,802
3,515,679 (1,910,910
4,474,743
(113,224)
(385,275)
{69,005)
1,604,769
4,826,373
685,635
5,512,008
26. Pension commitments
The charitable company operates a defined contributions pension scheme. The assets of the scheme are
held separately from those of the charitable company in an independently administered fund. The
pension cost charge represents contributions payable by the charitable company to the fund and
amounted to £33.384 (2023 - £27.679).
Page 45

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
27. Related party transactions
The charitsble company re￿iVed income from churches in vthich the trustees are Minister In Charge
see below..
2024
2023
Pastor K Bamigbade - Inspiration House Greenwich
Pastor A Sanusi - RCCG Victory House London
Pastor A Adeleke - House of Praise Trust
Pastor F Popoola - Praise Tabernacle
43,189
8,600
16.600
23.200
44,063
31,589
11,600
25,200
91,589
112,452
In addition, during the year the charitable company..
Purchased boxes of holy communion amounting to £306 {2023 - £652) from RCCG Living Waters
Parish where the Continental Executive Director is the resident Pastor.
Purchased boxes of holy communion amounting to £390 {2023- £805) from Top Hygiene Ltd, a
company in which Pastor Stella Lek&Sanusi, the spouse of Pastor Adeleke Sanusi (trustee) is a
director and shareholder.
Included in Note 15 (Debtors) is £500,000 (2023 - £500,000) loan to House of Praise Trust, an
RCCG church where Pastor Andrew Adeleke (a trustee) is a Pastor, for redevelopment of parish's
church building.
Donated £nil (2023 - £350,000) to RCCG Victory House London, a church where
Pastor Adeleke Sanusi (a trustee) is the Chief Executive Officer and resident Pastor, for
repayment of the church's mortgage.
Page 46

REDEEMED CHRISTIAN CHURCH OF GOD
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
28. Funds held as intemiediary
2024
2023
RCCG Unchangeable God Parish Bournemouth
25.970
25,970
25,970
25,970
The above amount is held in a bank account in Central Office's name..
RCCG Unchangeable God Parish Bournemouth represents the proceeds of sale of land at
the RCCG Redemption Camp in Nigeria which belongs to RCCG Unchangeable God
Parish Bournemouth. The funds were transferred to the Central Office for onward transfer
to RCCG Unchangeable God Parish Bournemouth.
This bank balance is therefore not included in these financial statements.
Page 47