THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS TEMPLE Charity REG.No 1084773 TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2020 OSES-BOLE &CO CERTIFIED PROFESSIONAL ACCOUNTANTSITAX ADVISERS & BUSINESS CHARTERED MANAGEMENT CONSULTANTS Unit 4L, Leroy House Business Centre 436 Essex Road Islington London N1 3QP Tel: 02077042525 Fax: 02073542035 THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS TEMPLE CONTENT Trustoes and Advl8ers Tru8tses' Report Independent Examlner s Report to the Trustees statement of Flnanclal Actlvltles Balance sheet Notes fomilng part of the Flnanclal Statement 7-20 THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS TEMPLE LEGAL AND ADMINISTATIVE INFORMATION Genaral overseer: E.A.Adeboye Trustees: Pastor Y Bamgbose Pastor T Eniola Pastor Y Odogwu Pastor A Adesina Pastor M Afolabi Registered Offlce: 30 Wagner Street London, SE15 1NN Mlnister In Charge: Pastor Samuel Oladele Bakare Charlty No 1084773 Bankers Barclays Local Business Banking Leicost•r LE87 2BR Accountsnts OSES-BOLE&CO Certlfied Professlonal Accountants and Bu8lno88 Chartered Management Consuftants Unlt 4L, Lèroy House Business Centre 436 Essex Road 18llngton. London N13QP THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WINNERS TEMPLE- TRUSTEES REPORT FOR THE YEAR 2020 The Trustees have pleasure in summittingtheir report and accounts for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out on pages 7 to 20 and comply with the statement of Recommended Practlce IFRS 1021 Issued on the 16thofJuly 2014. and the Charity Act2011 appltcable law. Objectlvity and Actlvltles The princlpal objective of the Charity is the advancement of the Chrlstlan faith worldwide and relief of poverty The Trustees are delighted to report that the Church continued to be flourishin8 spiritually by ministering to its communlty in UK. The church has augmented In terms of membership and is Increasingly reachin8 Out to the community. Achievement and Performance More focus and greater success were achleved in the area of Evangelism and community outreach. Durln8 Chrlstmas we provided hampers for some of the less prlvileged people In the local area and sang for a group of elderly. We held weekly Sunday Servlces for members uslng ZOOM; and held one for the Children's church which has known 8rovrth In the overall number of attendances. The church has successfully organised all it planned conferences-men and Women conferences by ZOOM. Other uplifting activities such as Youth and Christmas were also orBanised throu8hout the year but Fun day out for the youth was not done due to COVID- 19 Future Development We are Involved In social actlon for the communlty by provldlng food weekly. We also organise could not organise summer school forthe children in the communlty due to COV1￿19. Revlew of financial posltion The net incoming resources for the year amounted to £25,346 (Year 2019 £-23.2771. All these have been unrestricted reserves and no fund is allotted to restricted projects. We also have adequate saving in case of any adverse unforeseeable circumstances. the charity would be able to meet its liabilities. Rlsk Policy The Trustees have asse55ed the major risks to which the Charlty is exposed, particularly those relating to the operations and finance and are satisfied the risk management systems in place to mitigate any risk exposure. Reserve Policy The Trustees have established a policy whereby the unrestricted funds not committed or invested in tan8lble fixed assets [the free reservesl held by the church should be 3 months of annual expenditure. We are confident that with every precaution taken and also considering the pace of growth in the charity's operations and finance. we would be able to sustain the current activities of the church in the event of significant drop in funding. Princlpal Fundlng This is provided malnly through voluntary tithes and offerings by the church members and through Gift Aid Scheme. Pled8es are also taken for specific projects. Strurture. Governance and Management The Charity Is constltuted under a Trust Deed dated 29 January 2001 and the Charlty registration number is 1084773, on the central re8iSter of Charlty Commission of En8land and Wales. Method of appolntment or electlon of Trustees The management of the charity 15 the responsibility of the Trustees who are elected and co- opted under the terms of the Trust Deed. Organlsatlonal Strurture and Declslon Maklng The Church is organised so that the Trustees meet regularly to mana8e its affairs. Two Mlnlsters who manage the day-to4ay admlnlstration of the church and two volunteers IDrummer and Keyboardist). Related party Relatlonshlps RCCG Winners Temple is a member of Redeemed Christian Church of God IRCCGI which has Parishes all over the world. The relationship is governed by an -A8reement for common purposes- between the parishes and Redeemed Christian Church God IRCCGI. The member5 of the Board of Trustees who served durin8 the year were: {1) Pastor Samuel Oladele Bakare 121 Pastor Y Bamgbose 131 Pastor T Eniola 141 Pastor Y Odogwu 151 Pastor A Adesina 161 Pastor M Afolabi Approval: Thls report was approved by the Board of Trustees on the ..................................and Signed on its behalf by: Secretary to the Board of Trustees.......................................................-....................................... MOSES-BOLE & CO INDEPENDENT EXAMINER'S REPORT TO THETRUSTEES REDEEMED CHRISTIAN CHURCH OF GOD [RCCG] WINNERS TEMPL I report on the accounts of the charity forthe year ended 31 December 2020, which are set out below and notes to the financial statements on pages 7 to 20. Respectlve responsibilities of Trustees and Examlners As the Charivs Trustees, you are responsible for the preparation of the accounts; you consider that an audit is not requlred for this year (under section 144121 of the Charity Act 2011lthe 2011 act) and that an independent examination is needed. It is my respon5ibillty to Examlne the account (under sectlon 145 of the Act); follow the procedures lald down in the General Directions given by the Charlty; Comm15slon (under section 145{5) {bl of the 2011 Art and State whether particular matters have come to my attention. Basls of Independent Examlnerfs report My examSnation was carrled out in accordance wlth the general directions 8lven by the Charity Commisslon. An examination includes review of the accountlng records kept by the Charity and a comparlson of the accounts presented wlth those records. It also includes consideration of any unusual items or disclosures in the account5, and seekin8 explanatlons from you a5 the Trustees concernin8 any such matters. The procedures undertaken do not provide all the evidencethatwould be requlred in an audlt and consequently no opinion Is given as to whether the accounts present a "true and falr view" and the report is limited to those matters set out in the statement below. Independent Examlnerfs Statements In connection with the examlnation. no matter has come to my attention:_ 11 Which 8ive me reasonable cause to believe that In any material respect the requirements To keep accounting records In accordance with sectlon 130 of the 2011 Att,. To prepare accounts which accord with the accounting records and to complywiththe accountln8 requirementsof the 2011 Act have not been met or 21 To which. in my oplnion, attention should be drawn In order to enable a proper understanding of the accounts to be reached Moses O E Igunnubole. BA {HONS.J, FAIA CPF4 FF4 FIPA Ff4 FCPA FIC.. Managlng Prfncipal MOSE5-BOLE&CO Chartered Certified Forensic Accountants Certified Professional Accountants/TaxA 15 and Business Chartered Management Consultants 11 DATE.. I Q-11- 2021. THE REDEEMED CHRISTIAN CHURCH OF GODtRCCGI-WINNERS TEMPLE STATEMEKr OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31ST DECEMBER 2020 Pty)r F￿ F Fu Fundts R•comm•nd•d cat•gorf by actlvlty Incomlno r•soiir¢ Income and endowmgnts from: Donalions and legac*8 Charitable ath"vrtios Total R•$ourc•• •xp•nd•d Exp•ndltur• oni Direct Cost Support Cost Govemance Cost Total 191.453.37 191.453.37 147,803 191,453.37 191,453.37 147,803 79,913.52 84,239.08 1.9SS.¢XI 166,107.60 79,913.52 84.239.08 1,955.00 166.107.60 95.558 73,567 1,955 171.080 N•t rnov•m•nt In fund8 26,346.77 25.345.77 4 23.277 R•conclll•tlon of fvnd•: Total funds brought I0￿8rd Net movement in funds as shown ab)ve Total funds carrlod lorw•rd 288,297.61 25,34S 77 313.643 38 288,297.61 25.345 77 313,643.38 311,575 23,277 288.298 THE REDEEMED CHRISTIAN CHURCH OF GODtRCCGI-MNNERS - TEIIIPLE BALANCE SHEEf AS Af 31ST DECEMBER 2020 Total Last Yoar Total Funds Funds Funds FuTrJs Fixèd as89ts Tangible as58ts Total fixed assets 287.188.LXI 287.188.C 287,188.CX) 291.186 287.188.00 291,186 CurT8nt as8ets Cash at bank and in hand Total curr•nt a88èts 11 30,W.38 30,880 38 30,880.38 Cr•ditorn'. arrthnts faUing 1 ￿#T Netturr•nt ¥8•W(liabil￿#) Total •sse¢81•¥8 eurT•iit liats'lit 4.42S.CKI 4.425 ts) 6.840 28AS5.38 Cr•(litor8'. amounts falling aft•r 1 ProvS•lorM for li4b11th8 Totsl net 888•ts or 31 Fund# ofth• C￿rIty Unrostrictad funds R￿aluatIon r•5•ry• Totsi fund• 313,643 38 313,643.38 288,298 313 843.38 288 298 by one or tru$t•gB on behdlthl all tho tru81•è8.' Slgnalum.. Prfnt Namg.. P¥. D THE REDEEMED CHRISTIAN CHURCH OF GOD[RCCG]-WINNERS TEMPLE NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2020 Not• 1 BaJl8 of pr•p•ral 1.1 8a•l• of a¢¢owrting Thestr a￿Unts have been prepared undar ts hfstorral eJ)st conNEthn with items rerL)gnised at o)sl or transadK)n value unless otheM8e stated in the iefevant notels) to th&8e accounts. The accounts have been preparÈd in ac¥Ordan￿ wilh the Financral Reporting Standard applicablo In the UK and RapU￿1C of Inland IFRS1021 issued on 18 Juty 2014 and with the Challt￿ Ad 2011 and Ihe Charty ¢onstitutes a pubk benefft as rtefir￿d ty FRS102 12 Oolng c•ne•rn Conslderlng th• st•adl•v•l of Ineominq r•sourees andm•mb•rnhW numlJ•rih• Ch•rfty Is • golng ¢on¢•m wlth no anYkn￿￿n unfor•ts￿ ¢1￿uMStanC• 1.3 Chafi9• ol acmuntlng poIIcy The accounts present a truè an¢J fair Vivw and the F¥)kA•s adowed ar• Ihcw outlliied In the nole vAlh no change in poI￿Y 1.4 to •ecountlTrJ vllmAI•• No change8 to arxOun￿ng 98tlmat•8 h•ve oC￿rrnd kn th• reporlthg F*lod (3.48 FRS 102 SORPI. l.J Mat•rf•l prl•r y••r •rror• No matertal prfor year •rror have beon Kl8ntrned In the r8poiUng Fe￿QdI3.47 FRS 102 SORP). THE REDEEMED CHRISTIAN CHURCH OF GoD-￿NNERs TEMPLE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2020 Aceountlng pollei•x 2.1 RECONCILIATION MTH PREVIOU8 OENERALLY ACCEPTED ACCOUNTING PRACTICE Noto 2 There 18 no change in aixountrng pollcy rn this penTrJ Z2 INCOME Thi8 standard li$1 of accounting has appl￿ by the tharity except for those ticked No or "Nla" Where a drfferont or additional policy ha$ been adop￿ then this rs dgtailed in thtr bo¥ bolvw. R•cognltlon •1 In￿m• rh88& arg included In the Slatemont ol Financyal ActNiUe8 (SOFA) *then.' . the thanty trecome3 entitled to the resour￿.. . rt is more Ilkely than not Ihat the tru8tee8 will rec•lv8 the rBsoufce8". and . th¥ rnon8tary value can measured wth Su1fiw￿ ￿18bt1ty. Oll¥•ttlno Thoro hag b8•n no off8•tting of a$88ts and ljabilliw. or in¢)Th and •xp•nse8. Grant• and don•tl•n• Grant8 and donations ore only in¢ludBd in the SOFA *then the g•n8fal irtcome re￿nitson ¢ntMa ar• met1S.10 to 5.12 FRS 102 SORP} In the ¢a88 of perfoman￿ reLqled gr4nl8. irKome mu$1 only be r•co9nised to the extent th81 the charity h88 provided the speufi6d goods or seNc•s as 8ntill¢m•rf lo th8 grant onty o¢curs when th• p6rfoiman¢e relaled (#Jndibons are rrnt {5.16 FRS 102 SORP). L•9a¢l•# Ther8 is no legacy r8ceNod during this ￿rtthJ. Oov•rnm•nt grnnt• No govemmenl grant wa8 recerved d￿n9 p8n¢￿t. Tax r•¢l•lm• on don•tl•n• and g1ft• Gift Aid receivable 13 Induda(l in in￿e when Ih•re ￿ a Val￿ dedarabon from the dor￿. Any Grft Aid arntyjnt reCOve￿d on 8 donation is cx*nsidered lo be part ofthat grft 8nd is treat￿ As addIt￿n to the 8am8 fvnej 4$ th• Inrtl•l donallon unle88 the OJnor or the temis ofthe appoal ha￿ specified othtrrb*iSe. Contractual Ineom• and p•rfovrnan¢• r•l•t•d 9rn0ts This is not applicable Donat•d good• There 1$ no donal8d good. Don•t•d ••rvle•s and f4cllltl•s Donated sgrvices and facilities are indtsded in the SOFA when rwxwed at thè value of thB gfft to the tharity provided the ¥￿¢J& of the gth can be rn68wred rdiably. Donatsd services and facil￿"e$ that ale consumed immediatety are recognised as income with an equivalent amount recognised as an expe￿ undw the apprwate heading in the SOFA. Support costs The chairty has incurr8d exp¢ndituTe rm support ¢o*s. Volunt••r h￿P The value of any voluntary help rec8i¥ed is not irK4ud&J in the accounts but rs Lles(yitod in tho IrusleÈ8' annual rep)rt. Incom• from Int•r••( royaltl•s *nd dMd•nd• Not applicable during thi8 period. •nctsm• from m•mb•r8hlp ￿￿•¢￿P110￿4 Tilh88 and offering receiveil from the membels are in ts nature of a grft a￿ re&￿nised a8 Donab'ons. and Legaaes 8•ttl•ft*nt of Insurnnc• clalm• Insurance daims are only induded in the SOFA when the gerteral income rec4)gnibon ar¥ met15.10 10 5.12 FRS 102 SORP} and are induded as an item of other IrKfMne in the SOFA. Inv•stth•nt oalns •nd Iou This includes any realised 01 unr$alised gains or losses on the sale of investments aThJ any gain or loss résvlting from waluin9 investments to mar*et Vall￿ at the end of th• yoar. 2.3 EXPENDITURE AND LIABILines Llablllty r•c•gnltlon U8￿"11t1•S are reco9nised where it 18 likety than not tw th•re 1$ a legal ￿ cg)n8lrvctive o￿l98110n cornmittln9 th8 tharty to pay reBoUr￿$ and the amourf ofthe obl￿t￿n can be measured vAth reasonable certsinty. G•v•m•nc• and $upport co•ts Support costs havè b8en alJoc818d betymn Lh)vemonc• c¢sts 8nd other support. Govemance costs compd38 811 co8t8 inv￿VIng public a¢¢oufttability of Ihe charity and its (Jjm￿l&rKfj regulation and good practice. Support costs indudg eMtral fundions and have been allfy*i ￿ a¢tMty cost catewie8 on a basi8 congI81enl wrlh the use of re8ource$. eo allocah.ng prop•rty ¢ost8 by Iloor ar&86, or per caplta. slaff costs by the tim• sp¥nt and tslher costs by Iheir usage. Grnhts wlth p•rfomi•n¢è Èondltloft* Thè Charty 1$ not awaiding granl to any ¢xgan$6at GMnt• payabl• wlthout p•rfornwn¢• Mndldon• Where there are no condilbns attaching to the gr¥nl Ihai enablès the donor charity to realtslicaily avosd the commltm8nl, a Imbility for the fvll lundiro L)bllg*ion mu8t bo Twni￿. I1•d￿￿•Th¢Y co•t The tharity made no redundancy pa￿￿ntS durtng the reporting perlod. b•f•rr•d Incom• No materiJ item of deleTh8d inLxJn* h88 been induded in the alxounts. Ct•di*ov• Thtt charty has ¢reditors whth are measured at 8ettfemèrf arnc￿nts less any tradè dise(Mmts Pn>vislons for 118bllltl•s A liability is measured on recognth.on histtykal co¥t and then subsequenlty measured at the besl estlmate of the amount required to settlè the obligalion at the reporting date Ba¥lc flnanclal Instvun*nt• The charity accounts for b￿¢ financial instruments ot) inili81 t8CO9nitson as per paragraph 10.7 FRS 102 SORP. Subs&qu￿t measurement is as p8r paographs 11.17 to 11.19, FRS 102 SORP. 2.4 ASSETS Tanglbl• flx•d as••ts for by charlty These are capilalised rf thoy can be irned for mor& Ihan yw. and cost at kast They ale valued at ¢*St. The depreciation rates and meththJ$ used we (Isckxed in rnte 7. Intao9lbl• flx•d a•••ts The oharity has no intsngible fixed assets. Ihat is, rwmonetary assets that do not have physi¢al substance but are Identifiab￿ and controlle(1 by the charity through ¢ustr*Jy or legal rights. Th¢ amortisath.on rat&s and rnethod8 U8ertainti88 about iho Amount or timing of th08• ouUltrK", and . th8 amwnt of any exp8ctod reim1￿188rn￿t. 8tsting ts rnnt of any a$8et that has be•n recognised for that expected re1M￿rIOMenl. 9.2 Mov•m•nt• In f•cognlwl provl•lon• •nd fundlng Mmmllmwrt durlnq th• p•rlod Th1• Y￿r La•t Ymr Balance al the 8tart of the rnPMlrffJ perlrAI Amounts added In current perfod Amounts charged 4gain81 the provislon In thè current perrod Unu8ed amounts reversed during the pericrfl Balance at the gnd of thtr rwjortlng ￿0d 9.3 For any fundlng commth8nt that is not r8cogniMd a$ a Ilability or prow"8ion. provide details of commilm•rrt made. the tim8 frame ofth8t eA)mmrtmenl. any performance-related condifyons and details ol how the commitment will bg fijnded Iwrth frxcamal expenditure s•paratety lden1nle￿. 9.4 Where unres1￿(16d funds ha¥¢ been to a fvnd commrfmenl. ple88è di8dose the nature of any amount8 dgsignatgd and th& likely timing ofthat exrKnditure. IT THE REDEEMED CHRISTIAN CHURCH OF GOD-WINNERS TEMPLE NOTES TO THE ACCOUNTS CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020 Note 10 Contlng•nt liabilitl•s *MI c•ntliig•nt aM•ts 10.1 Contingent liabllltle8 Whare the charty has conb"ngenl liabilihbes. please (x)mp￿ the fkn.ng sectM)n unl￿5 the PO8sibilty of their existence 18 r&mole'. D•scriptlon ol Itom Including Il¥ Iwl natufe. Plè48• descrlbe any 4ecurity provided In conn•¢tlon to tho Ilabil. E8timate of flnanclal effect 10.2 Contlng•nt a•Mts Whew the charity has contingent a88¢t8. please com￿8* the fOlkn￿n9 secbon ¥then thelr extolen￿lS prob8bl•'. D••crl tlon ol ltsm E•tlmai• olfln•ncl•l eff•¢t 10.3 Oth•r dl$clo•um for condng•nt u••l• •n¢Vor Il•tylltl•• Please provide the followng Infomatr'on wher¢ pr8ch'cable Explaln any uncertwniies relalirwJ lo the omourrt or timing of 8•tttoment', and the possvoitty of- arry reimbursement Where it 18 not praclk81 to make one or moro of the8e di8c408ures, pl•a88 State fac* 18 THE REDEEMED CHRISTIAN CHURCH OF GOD-WINNERS TEMPLE NOTES TO THE ACCOUNTS CONTINUED Not• 11 FOR THE YEAR ENDED 31ST DECEMBER 2020 Ca•h at bank and in hand Thls Year Short lemi deposts Cash al bank and on hand Other Total Last Yèar 26.358.42 4.521.* 3,752 30.880.38 3,752 19 THE REDEEMED CHRISTIAN CHURCH OF GOD-MNNERS TEMPLE NOTES TO THE ACCOUNTS CONTINUED Not• 12 FOR THE YEAR ENDED 31ST DECEMBER 2020 Addltlonal Diselowv•s The followlng are ¥i9nSficant matters whlch are not eov•rBd In other nots4 and ne•d to b• Includ•d to provid• a proper understsndlng of the aceounts. If there 1$ IMufficl•nt room her•. plea8e add a sopar•ts •h•eL THERE IS NO ANY MATERIALADDITIONAL IXSCLOSURES REQUIRED DURING THIS PERIOD.