REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE Report and Financial Statements Year Ended 31ST DECEMBER 2020 Legal and administrative information
Status
Registered charitable organisation since 29 January 2001
Trustees and Management committee
OLUFEMI OLUBANJO Dr FRANCIS OLADIMEJI ADEYEMI OLUDARE OLADIPO CHRISTINE AWOLOTO ALABA AKINDURO
Registered office address
1 Alresford Green , Wickford, SS12 9RB
Charity operations address
1 Alresford Green , Wickford, SS12 9RB
Food Bank operations address
1 Alresford Green , Wickford, SS12 9RB
Registered charity number
1084774
Bankers TSB Bank Accountants AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA
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REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE Report and Financial Statements Year Ended 31ST DECEMBER 2020
Trustees report
The Trustees present their annual report with the financial statements for The Redeemed Christian Church of God (RCCG) Living Spring Centre (the charity) for the year ended 31 December 2020. The Trustees confirm that the annual report and financial statements of the charity have been prepared in accordance with the accounting policies and comply with the charity’s trust deed, the Charity Act 2011, accounting and Reporting by charities.
Policies and Objectives
The objectives of the charity are:
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The advancement of the Christian faith worldwide.
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The relief of poverty.
Our primary objective is to seek the advancement of Christian religion in accordance with preaching of the faith of the early Apostles and wherever possible, educate people using the word of God as our guide.
Strategies for achieving objectives
The church has developed the following strategies for achieving the above objectives:
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Organisation of seminars in the church with proven speakers and ministers of the faith to guide.
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Members in the various aspects of the Christian faith.
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Support for the charities and Christian events and
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Sunday service.
Responsibilities and basis of preparation of the report
The trustees who are also the management committee of the charity are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and 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.
Signed on behalf of the BOARD OF TRUSTEES
……………………………….
Date ……………………………….
Pastor Ralphael Olurotimi (Senior Pastor)
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REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE
Report and Financial Statements Year Ended 31ST DECEMBER 2020 Independent Examiner's report to the Trustees
I report to the trustees on my examination of the accounts of the above charity for the above period.
Responsibilities and basis of report:
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement:
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Alhassan Bangura FCCA AL Accounting Solutions 21A Brighton Road South Croydon Surrey CR2 6EA
Date.....................................................
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REDEEMED CHRISTIAN CHURCH OF GOD
LIVING SPRING CENTRE
Report and Financial Statements
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST DECEMBER 2020
| Notes Incoming resources: Voluntary income 1 Other Income Total Incoming resources Resources Expended: Resources Expended 5 Total resources expended Net surplus/ (deficit) for the year Opening funds Reserves adjustments 6 Closing funds |
Restricted Unresricted Funds Funds £ £ - 82,758 - - - 82,758 - 75,341 - 75,341 - 7,417 94,344 364,735 - (30,832) 94,344 341,320 |
Total Funds 2020 £ 82,758 - 82,758 75,341 75,341 7,417 459,079 (30,832) 435,664 |
Total Funds 2019 £ 127,483 235 |
|---|---|---|---|
| 127,718 | |||
| 88,646 | |||
| 88,646 | |||
| 39,072 420,007 - |
|||
| 459,079 |
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REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE
Report and Financial Statements
Balance Sheet as at 31ST DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Plant & Machinery | 2 | 1,111 | 284 | ||
| Net Current liabilities | |||||
| Debtors & prepayment | 3 | 1,300 | 66,004 | ||
| Cash at Bank and in Hand | 445,254 | 396,951 | |||
| 446,554 | 462,955 | ||||
| Less: Current Liabilities | 4 | (7,030) | (4,160) | ||
| 439,524 | 458,795 | ||||
| Net Assets | 440,635 | 459,079 | |||
| REPRESENTED BY: | |||||
| Restricted Funds | 94,344 | 94,344 | |||
| Unresricted Funds | 341,320 | 364,735 | |||
| 435,664 | 459,079 | ||||
| Signed on behalf of the BOARD OF TRUSTEES |
………………………………. Pastor Ralphael Olurotimi (Senior Pastor)
Date ……………………………….
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REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE Report and Financial Statements Notes forming part of the financial statements for the year ended 31ST DECEMBER 2020
1. Accounting policies
a) The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
b) Voluntary income is received by the way of donations towards religious tithes and offerings. Donations received is included in full in the Statement of Financial Activities in the year in which they are received.
c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
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Equipment & Furniture 20%
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Motor Vehicle 20%
e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.
f) Restricted funds are to be used for specific purposes as laid down by the donor.
| 2. Other Tangible Fixed Assets Cost: As at 1 January 2020 Addition As at 31 December 2020 Depreciation: As at 1 January 2020 Charge As at 31 December 2020 Net Book Value: As at 31 December 2020 As at 1 January 2020 |
Plant & Machinery £ 57,324 1,105 58,429 57,040 278 57,318 1,111 284 |
Motor Vehicle £ 9,996 9,996 9,996 - 9,996 - - |
Total £ 67,320 1,105 |
|---|---|---|---|
| 68,425 | |||
| 67,036 278 |
|||
| 67,314 | |||
| 1,111 | |||
| 284 |
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REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE
Report and Financial Statements Notes forming part of the financial statements for the year ended 31ST DECEMBER 2020
| 3. Debtors & Prepayments Members Loans GiftAid claims receivable Rent deposit Donations receivable Wages control Tax and National insurance 4. Current Liabilities Accruals Inter charity Funds Tax and National Insurance 5. Total Resources Expended RCCG WEM & Central Office cost Honararium, Donations & members welfare Events & Outreach Cost Church Salaries & NI Cost Church Pension cost Vicarage Allowance Rent, Rates & Water Telephone & Internet Printing, Postage & Stationery Bank Charges & Interest Subscriptions & Licences Legal & Professional Fees Accountancy Fees Repairs, Maintenance & Cleaning Costs Depreciation Total |
Unrestricted Funds £ 16,800 7,189 545 28,434 2,830 2,092 9,934 225 218 374 249 4,450 1,560 163 278 75,341 |
2020 £ 400 - 900 - - - 1,300 1,560 5,000 470 7,030 2020 Total £ 16,800 7,189 545 28,434 2,830 2,092 9,934 225 218 374 249 4,450 1,560 163 278 75,341 |
2019 £ 1,150 48,835 900 2,353 1,570 11,196 |
|---|---|---|---|
| 66,004 | |||
| 4,160 - - |
|||
| 4,160 | |||
| 2019 Total £ 18,085 4,204 6,553 30,615 2,772 2,050 15,819 220 592 - - 3,106 4,535 - 95 |
|||
| 88,646 |
6. Reserves adjustments
Opening reserves adjusted for unrealised assets brought forward from previous years
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Registered Charity No: 1084774
REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE
Report and Financial Statements Year ended: 31ST DECEMBER 2020
AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA
REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE Report and Financial Statements
Contents
| Page No | |
|---|---|
| 1 | Legal and administrative information |
| 2 | Trustees Report |
| 3 | Independent Examiner's report to the Trustees |
| 4 | Statement of Financial Activities |
| 5 | Balance Sheet |
| 6-7 | Notes forming part of the financial statements |