2020-12-31-accounts - Redeemed Christian Church Of God ('Rccg') Royal Connections

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			Page
Reference and administrative		details ofthe charity, its Trustees and advisers
Trustees' report			2-13
Independent auditors'	report	on the financial statements	14 —17
Statement offinancial	activities		18
Balance sheet			19
Statement ofcash flows			20
Notes to the financial	statements		21-41

REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	DETAILS	DETAILS	DETAILS	OF THE CHARITY, ITSTRUSTEES AND ADVISERS	OF THE CHARITY, ITSTRUSTEES AND ADVISERS
		FOR THE YEAR ENDED 31 DECEMBER 2020
General Overseer		Pastor EA Adeboye
Trustees		Mrs R Bella
		Dr F Oladimeji
		Pastor (Dr) D0		Oludoyi,		Pastor	in Charge
Pastor in Charge		Dr David Olusola			Oludoyi
		Mr SAkpan
Associate Trustees		Mr Afolabi Ajisafe
		Mrs M Bello
Charity registered
number		1084771
Principal office		199Freemason		Road
		Canning Town
		East London
		London
		E163PG
Independent	auditors	Stephen Michael		Associates
		Chartered Certified Accountants
		Statutory Auditors
		1st Floor
		3 More London	Riverside
		London
		SE12RE
Bankers		Barclays Bank	pic
		Medium Business			Team
		P0 Box35721
		London
		E144WA

			Restricted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2020	2020	2020	2019
		Note
Income from:
Donations and legacies			155,457	857,300	1,012,757	1,022,704
Charitable activities				1,950	1,950	13,181
Investments				208,760	208,760	164,484
Total income			155,457	1,068,010	1,223,467	1,200,369
Expenditure on:
Charitable activities			99,610	1,441,128	1,540,738	1,448,634
Total expenditure			99,610	1,441,128	1,540,738	1,448,634
Net income/(expenditure)	before net
gains on investments			55,847	(373,118)	(317,271)	(248,265)
Net gains on investments				559,180	559,180	228,152
Net movement in funds			55,847	186,062	241,909	(20,113)
Reconciliation offunds:
Total funds brought forward			64,240	2,770,920	2,835,160	2,855,273
Net movement in funds			55,847	186,062	241,909	(20,113)
Total funds carried forward			120,087	2,956,982	3,077,069	2,835,160

						2020		2019
				Note
Fixed assets
Tangible assets						2,034,022		2,104,194
Investment property						2,537,000		3,315,152
						4,571,022		5,419,346
Current assets
Debtors				13	541,314		443,226
Cash at bank and	in	hand			162,145		275,387
					703,459		718,613
Creditors: amounts		falling due within one
year				14	(2,197,412)		(3,302,799)
Net current liabilities						(1,493,953)		(2,584,186)
Total assets less	current liabilities					3,077,069		2,835,160
Net assets excluding			pension asset			3,077,069		2,835,160
Total net assets						3,077,069		2,835,160
Charity funds
Restricted funds				16		120,087		64,240
Unrestricted funds				16		2,956,982		2,770,920
Total funds						3,077,069		2,835,160

			2020	2019
			E
Cash flows from operating activities
Net cash used in operating activities			(381,053)	(362,454)
Cash flows from investing activities
Dividends, interests and rents from investments			208,760	164,484
Purchase oftangible fixed assets			(906)	(2,030,979)
Proceeds from sale of investments			1,337,332
Net cash provided by/(used in) investing		activities	1,545,186	(1,866,495)
Cash flows from financing activities
Cash inflows from new borrowing			1,882,000	3,131,419
Repayments of borrowing			(3,141,305)	(861,622)
Net cash (used in)/provided by financing		activities	(1,259,305)	2,269,797
Change in cash and cash equivalents	in	the year	(95,172)	40,848
Cash and cash equivalents at the beginning		ofthe year	256,989	216,141
Cash and cash equivalents at the end of		the year	161,817	256,989
The notes on pages 21 to 41 form part ofthese financial statements

			Restricted	Unrestricted	Total
			funds	funds	funds
			2020	2020	2020
			F	f.	F
Donations			97,512	857,300	954,812
Government	grants		57,945		57,945
Similar incoming		resources
			155,457	857,300	1,012,757

		Restricted	Unrestricted	Total
		funds	funds	funds
		2019	2019	2019
Donations		22,569	1,000,037	1,022,606
Similar incoming	resources		98	98
		22,569	1,000,135	1,022,704

						Unrestricted	Total
						funds	funds
						2020	2020
						f.	F
Income	from	charitable	activities	-	Books and tapes sale	755	755
Income	from	charitable	activities	-	Hall hire and other related income	1,195	1,195
						1,950	1,950
						Unrestricted	Total
						funds	funds
						2019	2019
Income	from	charitable	activities	-	Books and tapes sale	719	719
Income	from	charitable	activities	-	Hall hire and other related income	12,462	12,462
						13,181	13,181

					Unrestricted	Total
					funds	funds
					2020	2020
					f.	F
Investment	income	—local	investment	properties	208,586	208,586
Investment	income	—local	cash		174	174
					208,760	208,760
					Unrestricted	Total
					funds	funds
					2019	2019
Investment	income	—local	investment	properties	164,000	164,000
Investment	income	—local	cash		484	484
					164,484	164,484

Restricted	Unrestricted	Total
funds	funds	funds
2020	2020	2020
F	f.	F
99,610	1,441,128	1,540,738

Unrestricted	Total
funds	funds
2019	2019
1,448,634	1,448,634

Activities
undertaken	Support	Total
directly	costs	funds
2020	2020	2020
F	f.	F
414,036	1,126,702	1,540,738

					Activities
					undertaken	Support	Total
					directly	costs	funds
					2019	2019	2019
Advancement	of	Christian	Faith	Worldwide	690,779	757,855	1,448,634

				Advanceme
				nt of
				Christian
				Faith	Total
				Worldwide	funds
				2020	2020
				F	E
Pastors	salaries			193,424	193,424
Donations				30,370	30,370
Visiting	speakers'		expenses	26,544	26,544
Rent and		hall hire		93,600	93,600
Rates				11,791	11,791
Children		and youth	expenses	80	80
Insurance				9,773	9,773
Security		and alarm		444	444
Minor repairs and			services	2,328	2,328
Cleaning				7,557	7,557
Music and choir expenses				22,190	22,190
Building		repairs and rennovation		(3,763)	(3,763)
Telephone				6,573	6,573
Printing	and stationery			5,948	5,948
Electricity				7,177	7,177
				414,036	414,036

			Ad vancemen
			tofChristian
			Faith	Total
			Worldwide	funds
			2019	2019
Pastors	salaries		301,968	301,968
Donations			36,162	36,162
Visiting	speakers'	expenses	62,190	62,190
Rent and hall hire			133,811	133,811
Rates			6,484	6,484
Children	and youth	expenses	6,149	6,149
Insurance			8,860	8,860
Security	and alarm		13,197	13,197
Minor repairs and		services	18,921	18,921
Cleaning			7,313	7,313
Music and choir expenses			31,257	31,257
Building	repairs and renovation		28,695	28,695
Telephone			8,441	8,441
Printing	and stationery		14,912	14,912
Electricity			12,419	12,419
			690,779	690,779

						Advanceme
						nt of
						Christian
						Faith	Total
						Worldwide	funds
						2020	2020
						F	E
Staff salaries						101,920	101,920
Depreciation						76,022	76,022
Rates						6,350	6,350
Rent and hall hire						50,400	50,400
Electricity						9,210	9,210
Insurance						4,762	4,762
Telephone						3,539	3,539
Security and		alarm				239	239
Minor repairs		and	services			1,254	1,254
Other office	cost					1,380	1,380
Hire ofequipment						422	422
Cleaning						8,029	8,029
Equipment	hire and rental					924	924
Vechicle repairs,			parking		and insurance	2,949	2,949
Refreshment						150	150
Printing and		stationery				12,218	12,218
Travel						47,956	47,956
Advertising						477,418	477,418
Building repairs and renovation						(2,027)	(2,027)
Legal and professional				fees		273,955	273,955
Loss on disposal			of fixed		assets	(4,943)	(4,943)
Bookstalls						1,716	1,716
Credit card	charges					46,169	46,169
Governance		costs				6,690	6,690
						1,126,702	1,126,702

Analysis of	sup	port c	osts (continued)
				Ad vancemen
				tofChristian
				Faith	Total
				Worldwide	funds
				2019	2019
Staff salaries				82,496	82,496
Depreciation				113,250	113,250
Rates				3,490	3,490
Rent and hall hire				72,052	72,052
Electricity				6,687	6,687
Insurance				4,772	4,772
Telephone				4,545	4,545
Security and	alarm			7,106	7,106
Minor repairs	and services			9,790	9,790
Other office costs				9,004	9,004
Hire ofequipment				8,721	8,721
Cleaning				4,234	4,234
Vehicle repairs,		parking	and insurance	10,959	10,959
Refreshment				5,455	5,455
Printing and	stationery			19,860	19,860
Travel				45,723	45,723
Advertising				275,700	275,700
Building repairs and renovation				15,453	15,453
Legal and professional			fees	47,613	47,613
Bookstalls				4,255	4,255
Governance	costs			6,690	6,690
				757,855	757,855

						2020	2019
						E
Fees payable	to the charity's	auditor		for the audit ofthe charity's	annual
accounts						4,620	4,620
Fees payable	to the charity's	auditor		in respect of:
All non-audit	services not included		above			2,070	1,980

Staff costs
				2020	2019
				E
Wages and	salaries			253,686	334,183
Social security costs				28,974	35,016
Contribution	to defined	contribution	pension schemes	12,684	15,265
				295,344	384,464

2020	2019
No.	No.

Pastors
Church	administration

								2020	2019
								f.
Pastor	(Dr)	D	0	Oludoyi	Remuneration			111,930	159,986
					Pension	contributions	paid	5,597	7,688

	Freehold	Other fixed
	property	assets	Total
Cost or valuation
At 1 January 2020	2,051,699	683,793	2,735,492
Additions		906	906
Disposals	(500)	(188,076)	(188,576)
At 31 December 2020	2,051,199	496,623	2,547,822
Depreciation
At 1 January 2020	40,424	590,874	631,298
Charge for the year	40,424	35,597	76,021
On disposals		(193,519)	(193,519)
At 31 December 2020	80,848	432,952	513,800
Net book value
At 31 December 2020	1,970,351	63,671	2,034,022
At 31December 2019	2,011,275	92,919	2,104,194

	Freehold
	investment
	property
	F
Valuation
At 1 January 2020	3,315,152
Disposals	(1,428,152)
Surplus on revaluation	650,000
At 31 December 2020	2,537,000

		2020	2019
Due within one year
Trade debtors		33,745	32,420
Other debtors		243,168	247,155
Prepayments	and accrued income	220,932	134,276
Tax recoverable		43,469	29,375
		541,314	443,226

		2020	2019
		f.
Bank overdrafts		328	18,398
Bank loans		1,882,000	3,131,419
Trade creditors		77,705	50,812
Other taxation and social security		93,026	54,965
Pension		7,733	11,817
Other creditors		34,000	24,000
Accruals and deferred	income	102,620	11,388
		2,197,412	3,302,799

										2020	2019
Financial	assets
Financial	assets	measured	at	fair	value	through	income	and	expenditure	162,145	275,387

Stateme	nt o	ffunds - curren	t year
							Balance at
			Balance at 1				31
			January			Gains/	December
			2020	Income	Expenditure	(Losses)	2020
			E	f.	F	f.	F
Unrestricted		funds
General	Funds - all funds		2,770,920	1,068,010	(1,441,128)	559,180	2,956,982
Restricted funds
Freehold	property		41,665		(41,665)
Building	fund		22,575	97,512			120,087
Coronavirus		Job Retention
Scheme				32,945	(32,945)
Barking	and	Dagenham		25,000	(25,000)
			64,240	155,457	(99,610)		120,087
Total of	funds		2,835,160	1,223,467	(1,540,738)	559,180	3,077,069

Statemen	t o	ffunds - prior y	ear
							Balance at
			Balance at				31
			1January			Gains'	December
			2019	Income	Expenditure	(Losses)	2019
Unrestricted		funds
General	Funds - all funds		2,813,602	1,177,800	(1,448,634)	228,152	2,770,920
Restricted funds
Freehold	property		41,665				41,665
Building	fund		6	22,569			22,575
			41,671	22,569			64,240
Total of	funds		2,855,273	22,569	(1,448,634)	228,152	2,835,160

Summary	offunds - cu	rrent year
						Balance at
		Balance at 1				31
		January			Gains/	December
		2020	Income	Expenditure	(Losses)	2020
General funds		2,770,920	1,068,010	(1,441,128)	559,180	2,956,982
Restricted	funds	64,240	155,457	(99,610)		120,087
		2,835,160	1,223,467	(1,540,738)	559,180	3,077,069

Summary	offunds - pri	or year
						Balance at
		Balance at				31
		1January			Gains'	December
		2019	Income	Expenditure	(Losses)	2019
General funds		2,813,602	1,177,800	(1,448,634)	228,152	2,770,920
Restricted	funds	41,671	22,569			64,240
		2,855,273	1,200,369	(1,448,634)	228,152	2,835,160

Analysis	of net assets between funds - curre	nt period
		Restricted	Unrestricted	Total
		funds	funds	funds
		2020 f	2020	2020f
Tangible fixed assets			2,034,022	2,034,022
Investment	property		2,537,000	2,537,000
Current assets		120,087	583,372	703,459
Creditors	due within one year		(2, 197,412)	(2,197,412)
Total		120,087	2,956,982	3,077,069

Analysis	of net assets between funds - prior	period
		Restricted	Unrestricted	Total
		funds	funds	funds
		2019	2019	2019
Tangible fixed assets		41,665	2,062,529	2,104,194
Investment	property		3,315,152	3,315,152
Current assets		22,575	696,038	718,613
Creditors	due within one year		(3,302,799)	(3,302,799)
Tl		64,240	2,770,920	2,835,160

Reconciliati	on of	net m	ovem	ent	in fund	s to net	cash flow	from operating	activities
									2020	2019
									f.
Net income/expenditure			for	the	period	(as per	Statement	of Financial
Activities)									241,909	(20,113)
Adjustments	for:
Depreciation	charges								76,021	113,250
Losses on investments									(559,180)	(228,152)
Dividends, interests		and	rents	from	investments				(208,760)	(164,484)
Loss on the	sale of	fixed	assets						4,943
Increase in	debtors								(98,088)	(109,159)
Increase in	creditors								162,102	46,204
Net cash used in operating				activities					(381,053)	(362,454)

				2020	2019
Cash	in	hand		162,145	275,387
Overdraft		facility repayable	on demand	(328)	(18,398)
Total	cash and cash equivalents			161,817	256,989

					At 1		At 31
					January		December
					2020	Cash flows	2020
						f.	F
					F
Cash	at bank and		in hand		275,387	(113,242)	162,145
Bank	overdrafts	repayable		on demand	(18,398)	18,070	(328)
Debt	due within	1	year		(3,167,236)	1,253,503	(1,913,733)
					(2,910,247)	1,158,331	(1,751,916)

			2020	2019
			f.
Not later than		1 year	260,000	260,000
Later than	1 year and not later than 5 years		260,000	260,000
Later than	5 years		260,000	260,000
			780,000	780,000

				Unrestricted	Total
				funds	funds
				2020	2020
				f.	F
RCCG	Europe	Region	3- GBP	37,707	37,707

				Unrestricted	Total
				funds	funds
				2019	2019
RCCG	Europe	Region	3-GBP	33,909	33,909