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← Redeemed Christian Church Of God - (Rccg) Jesus People Parish

2024-12-31-accounts

Charity number: 1084812

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6 - 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 17
The following pages do not form part of the statutory financial statements:
Charity Detailed income and expenditure account and summaries

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 2024

Trustees Adesola Awosola Oladapo Olugbodi Mobolaji Soyebo

Charity registered number 1084812 Principal office Unit 19 Midas Business Centre Wantz Road Dagenham RM10 8PS Registered office 104 Hamble Lane South Ockendon RM15 5HP Pastor In Charge Paul Solademi Independent Examiner Dean Howard & Co Chartered Certified Accountants Unit F55 Waterfront Studios 1 Dock Road London E16 1AH

Page 1

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the financial statements of the charity for the 1 January 2024 to 31 December 2024.

Objectives and activities

a. Policies and objectives

A summary of the objects of the charity as set out in its governing document.

The charity is a Christian church of God 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 and builds a strong Christian faith. We aim to advance Christian faith by following God’s injunction in Ephesians 4:13, building every church member

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 North Woolwich, Silver town, Custom House 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 Ephesians 4:11-16

• Finally, are you preparing for the coming of the Lord Jesus Christ? Be prepared ! He will 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 (PB2)'.

Page 2

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

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 Tuesday for deep research of God’s instruction through discussion and teaching of Bible doctrines.

• On Monday have house fellowship meetings at 8 different centres.

• We also have various programmes for the community in the year.

Weekly Church Activities:

North Woolwich Parish

Tuesday – Bible Study ( Digging Deep) Friday – Faith Clinic Sunday – Sunday School and Worship Service

Dagenham Parish

Wednesday – Bible Study – (Moment of Truth) Friday – Prayer meeting Sunday – Sunday School and Worship Service

We thanked 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 fail.

Achievement

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue 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 of the going concern basis can be found in the accounting policies.

b. Reserves policy

It is the policy of the Trustees to work towards holding the minimum reserves necessary to enable the charity to meet its commitments for a minimum period of three months.

Page 3

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

a. Constitution

Redeemed Christian Church of God - (RCCG) Jesus People Parish is a registered charity, number 1084812, and is constituted under a Trust deed.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Financial risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Statement of Trustees' responsibilities

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 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:

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 provisions of the 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 on and signed on their behalf by:

Page 4

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Oladapo Olugbodi Trustee

Page 5

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Independent examiner's report to the Trustees of Redeemed Christian Church of God - (RCCG) Jesus People Parish ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2024.

Responsibilities and basis of report

As the Trustees of the 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 of the 2011 Act 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 statement

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. 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 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.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I 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 charity and the charity's Trustees as a body, for my work or for this report.

Page 6

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Signed:

Dated:

Dean Dairo MSc FCCA FCMI

Dean Howard & Co

Chartered Certified Accountants Unit F55 Waterfront Studios 1 Dock Road London E16 1AH

Page 7

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income from:
Donations and legacies
3
Other income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
165,668
-
165,668
158,692
158,692
6,976
673,927
6,976
680,903		 Total
funds
2024
£
165,668
-
165,668
158,692
158,692
6,976
673,927
6,976
680,903		 Total
funds
2023
£
139,340
29
139,369
105,522
105,522
33,847
640,080
33,847
673,927

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 17 form part of these financial statements.

Page 8

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
9
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Unrestricted funds
12
Total funds		 182,819
182,819
(5,590)		 2024
£
503,674
503,674
177,229
680,903
680,903
680,903
680,903
680,903		 174,229
174,229
(3,823)		 2023
£
503,521
503,521
170,406
673,927
673,927
673,927
673,927
673,927

The financial statements were approved and authorised for issue by the Trustees on Complete 'ACCOUNTS COMPLETION' section and signed on their behalf by:

Adesola Awosola Trustee

Mobolaji Soyebo Trustee

The notes on pages 10 to 17 form part of these financial statements.

Page 9

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. General information

The charity is registered in England. The address of the registerd office is given in the charity information page of these financial statements.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 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 102) (effective 1 January 2015), 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 rather 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 stated in the relevant accounting policy.

2.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive 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 costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges 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 10

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.4 Tangible fixed 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 bases:

Fixtures and fittings - 25% reducing balance
Office equipment - 25% reducing balance

2.5 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.6 Liabilities and provisions

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 time 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 finance cost.

2.7 Financial instruments

The charity 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 objectives of the charity and which have not been designated for other purposes.

Page 11

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Income from donations and legacies

Donations
Total 2023		 Unrestricted
funds
2024
£
165,668
139,340		 Total
funds
2024
£
165,668
139,340		 Total
funds
2023
£
139,340

4. Other incoming resources

Investment income
Total 2023
Analysis of expenditure on charitable activities
Summary by fund type
Charitable activities
Total 2023		 Unrestricted
funds
2024
£
-
29
Unrestricted
funds
2024
£
158,692
105,522		 Total
funds
2024
£
-
29
Total
2024
£
158,692
105,522		 Total
funds
2023
£
29
Total
2023
£
105,522

5. Analysis of expenditure on charitable activities

Page 12

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Analysis of expenditure by activities

Charitable activities
Total 2023		 Charitable
activities
2024
£
158,692
105,522		 Total
funds
2024
£
158,692
105,522		 Total
funds
2023
£
105,522

Page 13

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Analysis of expenditure by activities (continued)

Analysis of charitable activities

Accountancy fees
Donations and gifts
Legal and professional fees
Computer costs
Insurance
Sundry expenses
Bank charges
Repairs and maintenance
Depreciation
DBS
Cleaning and security
Fellowship meals
Motor running costs
Travel expenses
Evangelism
Light and heating
Water rate
Telephone
Church supplies
Wage and salaries
National insurance
Pension costs
Staff welfare
Legal and professional fees
Total 2023		 Charitable
activities
2024
£
720
35,815
5,730
241
1,523
715
65
22,832
2,488
163
975
3,392
2,191
127
9,293
7,335
90
1,357
1,572
51,132
3,214
900
1,099
5,723
158,692
105,522		 Total
funds
2024
£
720
35,815
5,730
241
1,523
715
65
22,832
2,488
163
975
3,392
2,191
127
9,293
7,335
90
1,357
1,572
51,132
3,214
900
1,099
5,723
158,692
105,522		 Total
funds
2023
£
-
44,533
-
239
1,314
-
-
26
3,581
389
2,278
2,959
-
-
2,883
9,974
-
1,603
654
23,045
-
-
-
12,044
105,522

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £720 ( 2023 - £ - ).

Page 14

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL) .

9. Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
property
£
500,000
-
500,000
-
-
-
500,000
500,000		 Fixtures and
fittings
£
8,375
-
8,375
4,854
1,607
6,461
1,914
3,521		 Church
equipment
£
-
2,641
2,641
-
881
881
1,760
-		 Total
£
508,375
2,641
511,016
4,854
2,488
7,342
503,674
503,521

The charity holds freehold property comprising the church building at Unit 18, Midas Business Centre, Wantz Road, Dagenham RM10 8PY. The property is held on trust in accordance with the governing document of the charity.

The trustees have the power to apply the property for the purposes of the charity and, accordingly, it is included in these financial statements. The property is carried at the historic cost of £500,000.

The legal title to the property is held by Messrs Awosola, Olugbodi and Soyebo, acting on behalf of the charity. The trustees confirm that the property is maintained in good condition and is appropriately insured.

The property is not subject to any mortgage or charge, and there are no restrictions on its use other than those imposed by the trust deed.

10. Creditors: Amounts falling due within one year

2024 2023

Page 15

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

10. Creditors: Amounts falling due within one year (continued)

Other taxation and social security
Pension fund payable
Other creditors
Accruals and deferred income		 2024
£
£
2,995
175
1,700
720
5,590		 2023
£
£
-
-
-
3,823
3,823

11. Financial instruments

2024 2023
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 182,819 174,229

Page 16

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January December
2024 Income Expenditure 2024
£ £ £ £
Unrestricted funds
General Funds - all funds 673,927 165,668 (158,692) 680,903

13. Summary of funds Summary of funds - current year

Balance at
Balance at 1 31
January December
2024 Income Expenditure 2024
£ £ £ £
General funds 673,927 165,668 (158,692) 680,903

14. Analysis of net assets between funds Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
503,674
Current assets
182,819
Creditors due within one year
(5,590)
Total
680,903		 Total
funds
2024
£
503,674
182,819
(5,590)
680,903

15. Related party transactions

The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 December 2024.

Page 17

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITY INCOME
Tithes and offering
Gift aid
Other income
TOTAL CHARITY INCOME
Less:
CHARITABLE ACTIVITIES COSTS
Wages and salaries
National Insurance
Pension costs
Light and heating
Wate rate
Motor running costs
Travel expenses
Donations and gifts
Evangelism
Fellowship meals
DBS
Training
Telephone
Church supplies
Staff welfare
Accountancy fees
Legal and professional fees
Computer costs
Insurance
Clean and security
Sundry expenses
Bank charges
Repairs and maintenance
Depreciation
TOTAL CHARITY EXPENDITURE
Surplus for the reporting period		 2024
2024
£
£
143,691
21,977
-
165,668
51,132
3,214
900
7,335
90
2,191
127
35,815
9,293
3,392
163
5,723
1,357
1,572
1,099
720
5,730
240
1,523
975
715
65
22,833
2,488
158,692
6,976		 2023
2023
£
£
112,765
26,575
29
139,369
23,045
-
-
9,974
-
-
-
44,533
2,883
2,959
389
12,044
1,603
653
-
-
-
240
1,314
2,278
-
-
26
3,581
105,522
33,847

Surplus for the reporting period

Page 18

REDEEMED CHRISTIAN CHURCH OF GOD - (RCCG) JESUS PEOPLE PARISH

INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2024
£
Surplus brought forward at 1 January 2024		 2024
2023
£
£
33,847		 2023
£
-

The notes on pages 10 to 17 form part of these financial statements.

Page 19