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2023-12-31-accounts

REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') LIVING SPRING CENTRE Report and Financial Statements Year Ended 31ST DECEMBER 2023 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 charity number

1084774

Registered address

Duke Aldridge Academy Trulock Road Tottenham London N17 0PG

Registered email address

info@rccglivingspring.org.uk

Registered contact telephone

07462985739

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 ('RCCG') LIVING SPRING CENTRE Report and Financial Statements Year Ended 31ST DECEMBER 2023

Trustees report

tbc

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 ('RCCG') LIVING SPRING CENTRE

Report and Financial Statements Year Ended 31ST DECEMBER 2023

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:

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 ('RCCG')

LIVING SPRING CENTRE

Report and Financial Statements

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST DECEMBER 2023

Notes
Incoming resources:
Voluntary income
1
Gift aid claims receipt
Total Incoming resources
Resources Expended:
5
Resources expended
Net surplus/ (deficit) for the year
Opening funds
Closing funds		 Restricted
Unresricted
Funds
Funds
£
£
-
77,761
-
14,615
-
92,376
-
104,721
-
104,721
-
(12,345)
94,344
380,841
94,344
368,496		 Total
Funds
2023
£
77,761
14,615
92,376
104,721
104,721
(12,345)
475,185
462,840		 Total
Funds
2022
£
109,324
14,465
123,789
100,491
100,491
23,298
451,887
475,185

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REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') LIVING SPRING CENTRE

Report and Financial Statements

Balance Sheet as at 31ST DECEMBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Plant & Machinery 2 4,149 1,394
Net Current assets
Debtors & prepayment 3 900 900
Cash at Bank and in Hand 1,752 31,442
2,652 32,342
Less: Current Liabilities 4 (1,541) (1,846)
1,111 30,496
Inter Charity funds 6 457,580 443,295
Net Assets 462,840 475,185
REPRESENTED BY:
Restricted funds 94,344 94,344
Unrestricted funds 368,496 380,841
462,840 475,185
Signed on behalf of the BOARD OF TRUSTEES
………………………………. Date ……………………………….
Pastor Ralphael Olurotimi (Senior Pastor)

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REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') LIVING SPRING CENTRE Report and Financial Statements Notes forming part of the financial statements for the year ended 31ST DECEMBER 2023

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:

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.

Tangible Fixed Assets
Cost:
As at 1 January 2023
Addition
As at 31 December 2023
Depreciation:
As at 1 January 2023
Charge
As at 31 December 2023
Net Book Value:
As at 31 December 2023
As at 1 January 2023		 Plant
& Machinery
59,497
3,792
63,289
58,103
1,037
59,140
4,149
1,394		 Total
£
59,497
3,792
63,289
58,103
1,037
59,140
4,149
1,394

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REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') LIVING SPRING CENTRE Report and Financial Statements Notes forming part of the financial statements for the year ended 31ST DECEMBER 2023

3.
Debtors & Prepayments
Rent deposit
4.
Current Liabilities
Accruals
Pensions
5.
Total Resources Expended
RCCG WEM & Central Office cost
Honararium, Donations & members welfare
Events & Outreach Cost
Church Salaries & Staff Cost
Church Pension cost
Rent, Rates & Water
Telephone & Internet
Bank Charges & Interest
Accountancy Fees
Insurances
Repairs, Maintenance & Cleaning Costs
Depreciation
Total		 Unrestricted
Funds
£
16,800
20,246
5,188
36,804
1,008
20,293
279
391
2,064
185
426
1,037
104,721		 2023
£
900
900
1,320
221
1,541
2023
Total
£
16,800
20,246
5,188
36,804
1,008
20,293
279
391
2,064
185
426
1,037
104,721		 2022
£
900
900
1,260
586
1,846
2022
Total
£
17,800
7,660
8,938
37,734
1,023
23,505
255
420
2,807
-
-
349
100,491

6. Inter charity funds

This represent the funds transferred between this charity and its related charity 1181631 - THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING SPRING CENTRE

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Registered Charity No: 1084774

REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') LIVING SPRING CENTRE

Report and Financial Statements Year ended: 31ST DECEMBER 2023

AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA

REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') 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