Charity number: 1084812 REDEEMED CHRISTIAN CHURCH OF GOD-{RCCG) JESUS PEOPLE PARISH UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH CONTENTS Reference and administrative details of the charity, its Trustees and advisers Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements Page 9-16
REDEEMED CHRISTIAN CHURCH OF GOD- {RCCG}JESUS PEOPLE PARISH REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Adesola Awosola Oladapo Olugbodi Mobolaji Soyebo Charity registsred number 1084812 Principal offlce Unit 19 Midas Business Centre Wantz Road Dagenham RM10 8PS Registered offlce 104 Hamble Lane South Ockendon RM1S 5HP Pastor In Charge Paul Solademi Independent Examlner Fellx Adepoju FCCA 81 Cherry Tree Lane Rainham Essex RM13 8TR Page 1
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report together with the financial statements of the Redeemed Christian Church of God - (RCCG) Jesus People Parish for the year 1 January 2023 to 31 December 2023 Objectives and actSvities Policies and objectives A summary of the objects of the charity as set out in its governing document. The charity is a Christian Church that provides a place of worship for its members. One of its main objects is the provision of spiritual development and Christ like worship for its members that builds a strong Christian faith. We aim to advance Chnstian faith by following God's injunction in Matthew 28.'18-20 & Luke 19-10- Seek Save and Disciple The church Objectives are coined out of the Mission Statement as stated in Ephesians 4..13 Objectives Sharing together in truth and faith, the gifts which God has given us. Developing people to spiritual maturity through bible studies, house fellowships, seminars and retreats Equipping every believer for a significant ministry by helping them discover the gifts and talents God gave them. A place where the hurting the depressed. the frustrated and the confused can find love, acceptance, help, hope, forgiveness, guidance and encouragement. Sharing the God news of Jesus Christ with the hundreds of thousands of residents in Dagenham and wherever the Lord will direct us to. I believe these dreams will become a reality because they are based on God's given word. Finally. are you preparing for the coming of the Lord Jesus Christ? Be prepared ! He wlll come back when nobody expects. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB2)'. Page 2
REDEEMED CHRISTIAN CHURCH OF GOD '.. {RCCG) JESUS PEOPLE PARISH TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER2023 Objectives and activities (contlnued) b. Activities undertaken to achieve objectives We provide counselling for our church members. We meet on Sunday for fellowship in songs, reading and teaching of the Bible doctrines. We meet on Wednesday for deep research of God's instruction through discussion and teaching of Bible dodrines. We also have varlous programmes forthe community throughout the year. Weekly Church Activities.. Wednesday - Bible Study - (Moment of Truth) Friday - Prayer meeting Sunday - Sunday School and Worship Service We thank God for His guidance, mercies. help and grace throughout the year, it was really a challenging year but we are grateful to God who has always been faithful in building his Church and not allowing the gates of hell to prevail. We look up to Him for the coming years knowing that He will never fall. Page 3
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2023 Financial revièw a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to Gontinue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption ofthe going concern basis can be found in the accounting policies. Structurei governance and management . Constitution Redeemed Christian Church of God- (RCCG) Jesus People Parish is a registered charity, number 1084812. and is constituted under a Trust deed. Page4
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER2023 Structure, governance and manag8ment (continued) b. Methods of appointment or election of Trust8eS The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. M8mbers' liability The Members of the charity guarantee to contribute an amount not ex¢eedlng £1 to the assets of the charlty in the event of winding up. Statement of Truste88' responslbilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles ofthe Charities SORP (FRS 102)., makejudgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision5 ofthe Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees 17th June 2024 and signed on their behalf by.. Paul Solademi Pastor In Charge Page 5
REDEEMED CHRISTIAN CHURCH OF GOD - (RCCGI JESUS PEOPLE PARISH INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examiner's report to the Trustees of Redeemed Christian Church of God- (RCCG) Jèsus People Parish ('the Charity,) I report to the charity Trustees on my examination ofthe accounts of the charity for the year ended 31 December 2023. Responsibilities and basis of report As the Trustees of the parent charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the charity's accounts carried out under section 145 ofthe 2011 A¢t and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145{5)(b) of the 2011 Act. Independent examiner's ststement I have completed my examination. I confirm that no matters have Come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect ofthe charity as required by sectlon 130 ofthe 2011 Act., or the accounts do not accord with those records., or the accounts do 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 15 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 bè drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part4 ofthe Charities {Accounts and Reports) Regulations 2008. My wort( has been undertaken so that I might state to the charily's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the parent charity and the charity's Trustees as a body, for my work or for this report. Signed Date Felix Adep ju FCCA 81 Cherry Tree Lane Rainham Essex RM138TR Page 6
REDEEMED CHRISTIAN CHURCH OF GOD 4RCCG) JESUS PEOPLE PARISH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Income from: Donations and legacies 120,049 139,369 139,369 Total Incom• Expendlture on.. Charitable activities 139,369 139,369 120,049 105,522 105,522 79,410 Total expenditure 105,522 105,522 79,410 Net movement In funds Reconclliation of funds: Total funds brought forward Net movement in funds 33,847 33,847 40, 639 640,080 33,847 640,080 33,847 599,441 40, 639 Total funds carrled forward 673,927 673,927 640, 080 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 9 to 16 form part of these financial statements. Page 7
REDEEMED CHRISTIAN CHURCH OF GOD- IRCCG) JESUS PEOPLE PARISH BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Fixed assets Tangible assets 503,521 506.622 503.S21 506, 622 Current assets Cash at bank and in hand 174,229 133.458 174,229 133,458 Creditors: amounts falling due within one year {3,823 Net current assets 170,406 133,458 Total assets les8 current Ilabilities Creditors- amounts falling due after more than one year 673,927 040. 080 10 (01 (o) Net assets excludlng penslon asset 673,927 640, 080 Total net assets 673,927 640, 080 Charity fijnds Unrestricted funds 12 673.927 040, 080 Total funds 673,927 640, 080 The financial statements were approved and authorised for issue by the Trustees on ( insert date) on their behalf by.. and signed Adesola Awosola Trustee Mobolaji Soyebo Trustee Thé notes on pages 9 to 16 form part of these financial statements. Page 8
REDEEMED CHRISTIAN CHURCH OF GOD ,. (RCCG) JESU.S PEOPLE PARISH NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General infomiation The charity is registered in England. The address ofthe registered office is given in the charity information page of these financial statements. Accounting policie8 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities., Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP {FRS 102) published on 16 July 2014 ralher than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Redeemed Christian Church of God - (RCCG) Jesus People Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Income All income is recognised once the charity has enlitlement lo the income, it is piobable that the income will be received and the amount of income receivable can be measured reliably. 2.3 Expendlture Expenditure is recognised once there is 2 legal orconstructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared cosls, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support cosls which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation ch8rges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policles (continued) 2.4 Tanglble flxed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the Cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis.. Air Conditioning - 5 Years Computer- 3 Years 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturlty of three months or less from the date of acquisition or opening of the deposit or similar account. 2.6 LlabilFtles and provislons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a fi'nance cost. 2.7 Flnancial instruments The Gharity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objective5 of the charity and which have not been designated for other purposes. Page11
REDEEMED CHRISTIAN CHURCH OF GOD-(RCCG) JESUS PEOPLE. PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donations and legacies Unrestricted funds 2023 Total funds 2023 Total funds 2022 Donations 112,765 26,575 29 112,765 26,575 29 111,002 8,247 800 Gift Aid Other Income 139.369 139.369 120,049 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2023 Total funds 2023 Total funds 2022 Donations and gifts 105,522 105,522 79,410 Analysis of expenditure by activities Activities undertaken directly 2023 Support osts 2023 Total funds 2023 Total funds 2022 Donations and gifts 94.735 10,787 105,522 79,410 Total 94. 735 JO,787 105.522 79410 Page 12
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expenditure by actlvlties (continuedl Analysis of direct costs Total funds 2023 Tota, funds 2022 2023 Employee Costs Donations and gifts Tea¢hinglTraining Manuals Pastor's Allowance Utility costs Evangelism Outreach Telephone Church supplies 23,045 44,533 12,044 23.045 44,533 12,044 32.245 2,574 9.000 9,974 2,883 1,603 653 9,974 2,883 1,603 653 9, 760 5,555 1,687 1,787 94,735 94,735 62, 608 Analysis of support costs Donatlons and gifts 2023 Totsl funds 2023 Tots, funds 2022 Accountancy fees Legal and professional fees Computer costs Insurance 240 240 1,314 389 1,314 389 1,140 DBS Equipment Fellowship Meals Repairs and maintenance Cleaning & Securities Depreciats'on 1,182 3.746 2,959 26 2,959 26 5,243 1,277 2,278 3,581 2,278 3,581 3, 102 10.787 10,787 16,802 Page 13
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examiner's remuneration The Independent èxaminer's remuneration amounts to an Independent examiner fee of £0 Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits {2023- £NIL). During the year ended 31 December 2023, no Trustee expenses have been incurred (2023- £NIL}. Tangible fixed assets Freehold prorty Other Assets Total Cost or valuatlon At 1 January 2022 Additions 500,000 12.519 480 512.519 480 At 31 December 2022 500,000 12,999 512,999 Depreciatlon At 1 January 2022 Charge for the year 5,897 3,681 5,897 3,581 At 31 December 2022 9.478 9,478 Net book value At 31 December 2023 500,000 3,521 503.521 At 37 DeGember 2022 500, 000 6, 622 506, 622 Creditors: Amounts falling duè within one year 2023 2022 Bank loans Accruals and deferred income 3,823 3,823 Page 14
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUS PEOPLE PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 10. Creditors: Amounts falling due after more than one year 2023 2022 Bank loans 11. Flnanclal Instruments 2023 2022 Financial assets Financial assets measured at fair value through income and expenditure 174,229 133,458 2023 2022 Financlal Ilabilities 3,823 Flnancial liabilities measured at amortised cost Page15
REDEEMED CHRISTIAN CHURCH OF GOD- (RCCG) JESUSJ>EOPLE.PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. Statement of funds Statement of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds General Funds - all funds 640,080 139,369 1105,522 673,927 Page 16
REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Summary of funds Summary of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure General funds 640,080 139,369 {105,522) 673,927 14. Analysis of net assets between funds Analysis of net assets between funds- current year Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Current assets 503,521 174,229 (3,823) (o) 503,521 174,229 (3,8231 {01 Creditors due within one year Creditors due in more Ihan one year Total 673,927 673,927 Page 18