REDEEMED CHRISTIAN CHURCH OF GOD (RCCG} REDEMPTION PARISH Charty number: 1084772 TRUSTEES. REPORT AND FINANcIALSTATEME￿fs FOR THE YEAR ENDING 31 DECEMBER 2023 REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) REDEMPTION PARISH CONTENTS Page Referen￿ and administrative details of the charity, its trustees, and advisers Trustee's report 4-10 Independent examinerfs report Statement of financial activities 12 Balance sheet 13 Notes to the financial statements 14-21 REDEEMED CHRISTIAN CHURCH OF GOD {RCCG) REDEMPTION PARISH REFERENCE ANDAtMINisfRATION DEfAILS OFTHE CHARrN, rrsTRusfEESANDADVISORS FOR THE YEAR ENDED31 DECEMBER2023 General OVe￿eer Pastor E A Adeboye Trustees TRUSTEES Pastor Olumuiwa &layi Mrs. Oluwatoyin Opasina Mr. Babajide Ariyo Mr. John Adedipe Pastor in Charge Pastor Oluyemisi Olukoya Charlty reglstered number 1084772 Principal office 49 Grange Park Road Leyton, London E10 SER Independent Examiner Chidi Okpara FCCA Bridlyn & Co Accountsncy Ltd Chartered Certified Accountants 11 town Quay lfyharf, Abbey Road; Barking 1 G117BZ Bankern Barclays Bank pic PO Box 35721 Hertsmere House 2 Hertsmere Road London E14 4WA HSBC Bank plc 15 Wellington Street London SE18 6PH REDEEMED CHRISTIAN CHURCH OF GOD IRCCG) REDEMPTION PARISH JANUARY 2023 TO 31 DECEMBER2023 The Trustees present their annual reP￿t togethw with theffinar￿1al statements for the year 1 January 2023 to 31 December 2023 OBJECTIVES AND ACTMTIES The objerttves of the church are set to refled our CF¥istian faith and Communty aim. To this end, the programs of aclivities are designed to rded this dual aim: . The advancement of the Christian fath w￿#18 . The rellef of povety Our wimary oty'8Ctive ssto seek the advartsment of Christian religion in aOX)rdan￿ with weaching of the faith of the early Apo*les and wherever possible, educate people using the W￿d of God as our guide. We aim to establish and manage schools.. Bible Schools. Bible College, Vocational Bible Schools. CO￿eSpOndence Courses and lo leach religious knowledge in schools, instrtutions and the wider CLynmunity. We ar8 Still working on this. Each year, our trustees review our obj'edives and &tivities to ensure that they continue to refle(* our Charty aims and objectives. In carrying out this review, the trustees have ￿nSIdered the Chanty Commission's g8neral guidance on public benefti and (in particular) its supplementary publ￿ guidance on the advancement of religion for public b8nefrt. REDEEMED CHRISTIAN CHURCH OF GOD {RCCG) REDEMPTION PARISH FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIES FOR ACHIEVING THE 0￿cT￿Es In this 2023 yearend report we have major review on 'How to signfficantly increase our income through tithes, general offering and donations so as to be able to meet our primary aims and objectives. 'Renewed decisions as to how to meet our objectsves. Training: Training more workers in managing online content as this appears to have come to stay. Leaming skills in online communication was another area of emphasis in training our members. Judlcious use of funds: Managing our resources is key to achieving our objectives. Also, we are considering other ways that can help increase our income base. There has been concerted effort to seek funds beyond our traditional sources. The success of this is reflected in the improved balance sheet figures for the under review. Incomes and Exponditures: During the year our total income increased significantly compared to the year end 2022 in both Planned giving (rrthes) and general offering. We also receive S￿nIfICant gift aid claim (see Note 2 to the account). In total, our annual total income exceeds the Expenditure, thus having a surplus as indicated in the Income and Expenditure on (see page 13). Collaboratlve Working: Working in collaboration with The Redeemed Christian Church of God, Central office, Redemption Parish was able to achieve economy of effort in the various areas of church policy. REDEEMED CHRISTIAN CHURCH OF GOD {RCCG) REDEMvfioN PARISH FOR THEYEAR ENDED 31 DECEMBER 2023 Achlevlng our Objecoves Redemption Parish has provided significant social support to members through online technology in alleviating loneliness and depression. In pursurt of our aim of relief of povety, (physical. spiritual, and material poverty) the church played a crucial role in promoting generosity among the communrty we serve. Members have risen to the occasion of helping those in need at a personal level including home visits when allowed. At Christmas 2023, Redemption Parish distributed 100 hampers to households identified as being in need by Waltham Forest Council. In this we were joined by Councilor Anna Mbachu, fOrn￿r Mayor of Waltham Forest. Actlvltles For Achleving our ObJeclive8 Praying for the nation and leaders . Pastoral Care Various online social activities , Financial and material support among members (be your brotherfs keepw) Provision of welfare support to members , Online conferences and events Missionary and outreach lfyrrk Make our worship service accessible and welcoming to all Christians and those who Nthich to know more about faith during and after the lockdown Planting online model youth churches , Organize events outside the regular Sunday service that refl￿1 communty needs. faith group and community cohesion Organize seminars online with proven speakers and ministers of the faith to guide members in the various aspects of life including faith, family, career and finance. Support for other chartties and ChrFStian everts , Community welfare (in partnership with our Central Offi￿) irrespectsve of religious background. REDEEMED CHRISTIAN CHURCH OF GOD (RCCGI REDEMPTION PARISH FOR THEYEAR EhlDED 31 DEC&4IBER 2023 Actlvities and Achlevements in 2023 In 2023, RCCG Redemption Parish carri￿1 out a wide range of actNities, speaking through sermons on topics like. Families , Marriage , Relationship between teenagers and parerrts Wealth creation , Debt management Civil responsibiltties . As a church organisation. we continue to hold talks on go(xl atizenship" by constsntly reminding our congregants to be res￿nsIble crtizens and residents of the United Kingdom, k￿pIng away from trouble and how to avoid falling foul of the law through sernons legal updates. Specifically, we held Mothering Sunday on 19 March 2023. a day dedicated to ￿lebrating women in our midst. Youth Church: The activities with the youth in 2023 fC￿Se￿ on topics and issues like. Mental and emotional Well-t￿n9 Emotional intelligence Career development Social awareness and conduct The lessons from these topics have supported the personal, emotional, psychological, and spiritual growlh of those who have attended as well as providing transferable skills including planning, learning experiences, teamThworking and collaborating, time management and development of good communication and Interpersonal skn'lls. Attendees were recognized with certificates of attendance and Individual gifts for their contributions. REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) REDEMwnoN PARISH TRUSTEE'S REPORT lcontinued FOR THE YEAR ENDED 31 DECEMBER 2023 Working with RCCG Central Body In pursuant of our objectives, Redemption Parish continues to work in close cooperation with the Redeemed Christian Church of God (RCCG) Central body by.. Providing for the needs of the local communty. Drawing up safety and policy guidelines for Parishioners We are very grateful for Ihis support. Worklng with other Chrlstlan Organlzatlons Our aim is to continue to work in collaboration wrth other Christian bodies, organizations in order to resource, equip, and inspire the Church across UK to be good news to its community. Besides, Redemption Parish is in Alliancelworking with these organizations such as EvangelicalAlliancework on a number of Initiatives such as.. * Religious liberty IJu8tice for persecuted Chn'stians * Human trafficking * Gambling Poverty * Marriage Care for the family * Children in need of desperate loving h * Uniting our younger generation wrth the Church. Through our charitable giving, Redemption Parish has supported other causes through Great Ormond Street Hospital Children's Charity, Crisis, UNICEF, Salvation Amiy. The Ukrainian Crisis Appeal, Christian Aid and African Mi&sions. REDEEMED CHRISTIAN CHURCH OF GOD (RCCGI REDEMPTION PARISH TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2023 Church Groups The men. under Ihe umbrella of The Good Men's Fellovrfship, and the women under the umbrella of The Good Women's Fellowship meet regularly to discuss issues like: ,Families . Marriage . Relationship between teenagers and parents ,Wealth creation , Debt management ,Civil responsibilities The Men's Fellow8hlp The men'8 fellowship continued to engage wrth one *K)ther through social media platform during the year 2023 to encourage one another, share infomiation, talking through concerns, showing concerns and support for those who were sick and sharing in each otherfs joy. On 17 June 2023. the men's fellcmship held a On￿aY ￿treat in Leicester to deliberate on issues of common interest to the male gender. This was pThx to the celebrats'on of Fatherfs Day on 18 June 2023. The Women's Fellow8hlp This group continue to focus on social engagemnt, health awareness for families. engaging the services of many professionals we have in the medical profession such as GPS, nurses, and social workers. Support was offered to many women who required counselling. Also promoting good parenting, physical frtness, healthy eating for families. The Women had regular online meetings to encourage one another and share their burdens and joy. This helped to create networking with other VK)men in the local community. Spiritually and emotionally to minimise loneliness, this group conts'nues to meet online every so often Senlor Cltlzen8 (Wl8dom Group) Through our elders. group, we had regular engagements with our senior citizens online and visrts to drop off grft cards and support them spiritually and emotionally to minimize loneliness. This group continues to meet online every Tuesday to pray and pass on valuable information. International Women's Group Our intemational vA)men's conference, the"Feast of Estherf held in person conference on 12th -13trt May 2023. This was an opportunrty for leading ladies in ministy to liaise and net*Drf(. Thanks to the volunteers who gave their time and technical skills to ensure the event ￿ES a success. This Conferen￿ is contributing to developing women to be leaders in their communities to the benefft of the nab.on and the Church. oi OO"OQJ'l¥3 JeAO ￿ wnowE pin￿￿ syoua ￿wn￿￿ eui '£ZOZ u! a6EM wnLU!U!iu ayi w a6eJaAe up 'Jnou Jad CM)'O L3 ie panieA ApA!pA1asu￿ s! SILP JI 'JEaA 5uunp PaPL￿jd ajam sjnoy JaaiunpA Ootr Jgho ieui peieujiisa s! li 'u0is￿OJd wJwas ui paAIOAU! aR oum wiunpA S¥. JO Syoua PUE yoddns aui Joj In￿￿J6 si aL41 S¥331NnioA iyauw ?!Iqnd JOJ uo161iaJ w iuewagueAPP ayi uo suo!S!AoJd aguep!n6 9!Iqnd ￿￿U8wa￿dnS s,ucxss1ww￿ Aweu J eui oi uaN6 uaeq SEU UOliEJep!suo? "iuauaq ?!Iqnd uo aJueKy.n6 ieJaua6 s.uo!Ss!wu￿ AWEU? aui oi sp￿￿ anp aAeu pup ajupiidwoa puis ui sal￿p PUE suoiIE6Iiqo |E6ai Jno peLuJO￿ad aAey am "a￿aS am A¥.unLUWCQ oi weAaiaJ aje am ajns 6ui¥eLU PUE sasodjnd Jno OJ anji u!EWaJ Oi isa] Jno auop aAey am '£zoi JeaA sa6uaiiew ay.dsap uuyuoj sa?￿￿11 40 pJeo£ eui INJWJIVIS 1143NJg giignd OZ U3SY13?3a 1£ a30N3 UV3A 3HI ¥0 IpwqU￿} ￿0d3¥ S331snyi HSIIIVd (999¥1009 40 H?ynHa NVIISWH? a3w33a3 REDEEMED CHRISTIAN CHURCH OF GOD IRCCG} REDEMPTION PARISH FOR THE YEAR ENDED 31 DECEMBER 2023 statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Practice) and applicable law and regulations The law applicable to charrties requires the Irustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charrty and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to-. select suitable accounting policies and then appty them cc￿81$tentty: observe the methods and pnnciptes in the Chanties SORP., make judgements and estimates that are reasonable and prudent State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charrty will continue in business. The truslees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charty and enable them to ensure that the financial statements comply wrth the Charities Act 2011, the applicable Charrties (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detects'on of fraud and This ￿pOrt VRS approved by the Trustees, on .. by Pastor Olumuyiwa Aj'ayi (Chairperson). ..12024 arKI signed on their behalf Approved by t trustees of the Chanty Pastor Olumuyt%va Aiayi (Chairperson) 11 REDEEMED CHRISTIAN CHURCH OF GOD RCCG REDEMPTION PARISH REDEEMED CHRISTIAN CHURCH OF GOD {RCCGI REDEMPTION PARISH Independent examineffs report I report to the ¢harrty trustees on my examination of the aG¢ounts of the charty for the year ended 31 December 2023 which are set out on pages 4 to 21. Respecllve responsibilities of ttvstees and examlner As the charity's trustees of REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) REDEMPTION PARISH you are responsible for the preparation of the accounts in accA)rdanc8 wrth the requirements of the Charities Act 2011 ('the Act I report in ￿Spect of my examination of the REDEEMED CHRISTIAN CHURCH OF GOD {RCCG) REDEMPTION PARISH'S accounts carried OLrt under section 145 of the 2011 Act and in Garrying out my examination I have followed all the applicable Direthons given by the Charty Commission under section 145{5){b) of the Indep8nd8nt examlnefs 8tstement I have Completed my examination. l ¢x*nfirm that no material matters have come to my attention in connection wrth the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of REDEEMEO CHRISTIAN CHURCH OF GOD (RCCG) REDEMPTION PARISH as required ty se(lion 130 of the Act,. or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the a￿UntIng requirements concerning the form and content of accoL5nts set out in the Charrties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair view, which Is not a matter considered as part of an independent examlnatlon. I have no concerns and have come across no other matters in connection wrth the examination to which 8ttention should be drawn in this report in order to enabl8 a proper und8rst8ndlng of the accounts to be reached. C.okpara Bridlyn & Co Acwuntancy Ltd Chartered Certffied Accx)untants 11 Town Quay Wharf. Abbey Road, B￿kIng IG117BZ Date.. 09 December 2024. 12 REDEEMED CHRISTIAN CHIJRCH OF GOD (RCCGI REDEMPTION PARISH sTAT￿E￿rOF FINANCIAL AcnwllES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted funds Total funds Total funds Restricted funds 2023 2023 2023 2022 )TE INCOME FROM: DonatFons and legacies 995 221,909 222,904 183,893 TOTAL INCOME 221,909 221904 183,893 EXPENDJTURE ON: Other charrtable adivllies TOTAL EXPENDITURE NET INCOMEI(EXPENDITURE) BEFORE 195.643 195,643 140.367 3&4 195,843 195,643 140,367 OTHER RECOGNISED GAINS AND LOSSES 27,261 27.261 43,526 NET MOVEMENT IN FUNDS 43.526 RECONCILIATION OF FUNDS Total funds brought fop•vard TOTAL FUNDS CARRIUED FORWARD 98,135 97.380 234,817 261,083 331,202 358,463 287,678 331.202 13 REDEEMED CHRISTIAN CHURCH OF GOD IRCCGI REDEMPTION PARISH BALANCE SHEEr ASAT31 DEc￿BER 2023 2023 2022 FIXED ASSErs TangFbte assets 523,669 538,144 CURRENT ASSETS Debtors Cash at bank and cash in hand 76,984 26,000 142,188 67,379 CREDITORS: amounts falling due within one NETCURRENT ASSETS TOTAL ASSETS LESS CURRENT UABiunES 47 587,869 574,046 CREDITORS". amounts falling due aft8r m￿e than one y NETASSETS 358.463 CHARITY FUNDS Restricted funds Unrestricted fuThJs 97,380 96,385 TOTALFUNDS 331,202 The financial statements were approved arKI authorised for issue by the trustee on on its behalf by". ..J 2024 and sKJned Pastorol muyiwa Ajayl. IChairy*rs¢Jn) 14 REDEEMED CHRISTIAN CHURCH OF GOD IRCCGI REDEMPTION PARISH IIOTES TO THE FINANCIAL sfATEMEKrs FQR THE YEAR ENDED 31 DECEMBER2023 1. ACCOUNTING POLICIES 1.1 Basis (rf preparation of flnanclal statements The firkincial statemerts have been prepared to give a Irue and fairf view and have departed from the Charities {AccL)unts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has invofved f01th￿ng the Charrties SORP {FRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charrties.. Statement of Recommended Practice effective from 1 April 2005 which has since been wtthdrawn. The financial statements have been wepared under the historical cost convention wrth items recognised al cost or transadion valu8 unless otherwise stated in the retevant notes to these accounts. The financial stalements have been prepared in aco)rdance with the Statement of Recommended Pra￿l¢e.. Acwunting and Reporting by Charrties preparing their accounts in accordarth with the Finanual R8POrting Standard applicable in the UK and Republic of I￿￿7nd (FRS 102) i&8u8d on 16 Juty 2014 and Fwiancial Reporting Standard applicable in the Unit8d lfjngdom and Republic of IreL8nd (FRS 1021 Charities Ad 2011. Redeemed Christian Church of God {'RCCG') Redempts'on Parish constituies a public benefit 8ntty as defined by FRS 102. 1,2 In¢om• All income is recognized onc* the charity has entiuement to the income, It is probable that the income wlll be received, and the amount of income rw£ivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid ￿ deeds of covenant is ￿cOgniZed at the time of the donation. Income tax recoverable in relation to Investment income is recognized at the time the investment income is receNable. 1.3 Expendknrn Expendrture is recognized once there is a legal or constructive obligation to transfer economic benefrt to a third party, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expendliure is dassffjied by adivty. Th8 Costs of each activity are made up of the total of dirert costs and shared costs, indudiro support costs involved in undertaking each activty. Direct costs attributable to a single activty are albcated directly to that artNty. Shared costs which contribute to more than one activity and support costs vthich are not attributable to a single activity are apportioned betwe8n those adivilies on a basis consistent with the use of resources. Central staff costs are allocated based on time spen( ar4J dewec¥ation charges allocated on the portion of the asset's use. Support costs are those costs In￿rred dirertly In support of expenditure on the obJec*s of the charity and include project management carried out at Headquarters. Charttabte activities and Governa￿e (x)sts are (x)sts incurred the ¢hariVs operations, including support costs and costs relating to the governan￿ of the charity apportioned to charitable artNities. 15 REDEEMED CHRISTIAN CHURCH OF GOD IRCCGI REDEMPTION PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. AccouKfiNG POUCIES Iconlinued) 1.3 b RELATED PARTY TR4NSACTIONS Related Paty transaL#w)ns in thts al￿Unt are in acc¢ydance with the Agrewnent of Common Purpose WFth the Redeemed Christian Churc*b of G(*J (RCCG worf￿lde) as part of the 0￿s￿tutIl￿ of the Churth. 1.4 Tanglble fixed assets and deprrtiallon All assets costing mcfe than £51X) are capitaked. A review for impairment of a fixed asset is carried out rf events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the Carrying value of fixed assets and their recoverable amounts are recognized as impairments. Impairment losses are recognized In the Statement of financial activities. Tangible fixed assets are carrled999999 at cost, net of depreciation and any provision for impairment. Dèpreciation is provided at rates calculated to write off the ￿st of fixed assets, less their estimated residual value, over their expeded useful lives on the following bases.. Freehold property Fixtures & fittiros Inlor•8t receivable 2Vo Straight line 200/0 Straight ￿ne Interest on funds held on deposR is included when receivable and the amount can be measured reliably by th8 charity. this is normally upon notif￿tion of the interest paid or Payab￿ by the Bank 1.6 Débt