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2020-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) DOMINION PARISH HOUNSLOW

ANNUAL REPORT & FINANCIAL STATEMENTS (UNAUDITED)

YEAR ENDED 31ST DECEMBER 2020

CHARITY REGISTRATION No: 1084909

1

RCCG DOMINION PARISH, HOUNSLOW Trustees Report

for the ear ended 31st December 2020 y

Contents Page

Legal and Administrative Information		 3
Trustees' Annual Report 4
Independent Examiner's Reportto the Trustees 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the accounts 11-17

2

RCCG DOMINION PARISH, HOUNSLOW Trustees Report (continued) for the ear ended 31st December 2020 y

Legal and Administrative Information

CHARITY NUMBER 1084909

LEGAL STATUS

The charity is constituted under a declaration of trust.

GOVERNING INSTRUMENT

The Governing document of the Charity is the Trust Deed dated 20th December 2000 and the Agreement for Common Purposes between The Redeemed Christian Church of God and RCCG Dominion Parish Hounslow dated 2nd August 2001

OBJECTS

The objects of the Charity are the advancement of the Christian faith worldwide and the relief of poverty in accordance with the doctrines set out in the statement of faith contained in the governing document.

CORRESPONDENCE ADDRESS

RCCG Dominion Parish Hounslow 25 Spring Grove Road HOUNSLOW TW3 4BE

PRIMARY BANKERS

Barclays Bank plc 210 High Street HOUNSLOW TW3 1DL

TRUSTEES AT 31ST DECEMBER 2020

Mr Lucky Albert Mrs Akpoyovbe Adebowale Mr Oludotun Sodipo Pastor Oluwole Oyenekan

INDEPENDENT EXAMINER

Jilon Solutions Ltd 22 Burgess Avenue Stanford le Hope SS17 0AZ

3

RCCG DOMINION PARISH, HOUNSLOW Trustees Report (continued) for the ear ended 31st December 2020 y

Organisation Structure and Decision Making

The Redeemed Christian Church of God Dominion (hereafter referred to as the charity) is structured in a manner that allows the Trustees to meet as required to manage its affairs. The Pastor in Charge is delegated to manage the day-to-day administration of the church in collaboration with other ministers and volunteers. The Trustees hold final responsibility for all the decisions regarding allocation of funds and activities.

Recruitment and Appointment of Trustees

The Trust began with the appointment of the “first Trustees” and subsequently, Trustees are appointed and or co-opted under the terms of the trust deed.

Induction and Training of New Trustees

The induction process for a newly appointed Trustee comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Pastor in Charge on the powers and responsibilities of the Trustees.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and the specific risks currently posed by Covid19. We have however adjusted our systems and practices to comply with the government guidelines on the pandemic; We are therefore satisfied that we have enough systems in place to mitigate our exposures to the present and emerging risks.

Grant Making Policy

The Charity collaborates with other charities and missions that share its objective of the advancement of the Christian faith and relief of poverty. This includes but not limited to RCCG Central Office, World Evangelism Mission, and Festival of Life etc. It also makes occasional grants to congregational members who are in need in line with its objective of poverty relief.

Investment Policy

The Charity currently has its own property that it uses for its activities; and will continue to explore other possible investment opportunities. All funds are retained in Banks and Building Societies, and as far as possible in interest bearing accounts.

Reserves Policy

The Trustees’ policy is to have unrestricted and uncommitted funds (free reserves) to cover 4- 6 months of resources expended which equals to £28,000 to £42,000 in general funds. This is estimated to be sufficient to run the affairs of the Charity in the event of a significant drop in funding. It would obviously be necessary to then consider how the funding would be replaced or activities changed. The present free reserve is within the range, but the Trustees are continuing to seek additional unrestricted funds to build up its reserve.

Principal Funding

Funding has been provided mainly through tithes and offerings by church members and through gift aid. Pledges are also taken for specific projects.

4

RCCG DOMINION PARISH, HOUNSLOW Trustees Report (continued) for the ear ended 31st December 2020 y

Key Objectives and Activities

At the core of the charity’s objectives are:

  1. The advancement of the Christian faith worldwide

  2. Alleviation of poverty.

  3. To positively impact and benefit the community we operate in and the general public.

The period under review falls within the period of heightened Covid-19 restrictions, risks and even lock down; this made physical meetings and group activities almost impossible.

A risk assessment was carried out and the outcome was a resort to mainly virtual meetings. The virtual meetings were limited to weekly study group meetings and Sunday services. These were all open to the public as anyone could join virtually both the live services or recorded versions that were available on social media platforms like Facebook and YouTube”.

And in pursuant of one of the Charity’s key objectives of alleviation of poverty, basic food items were handed to families (whose income had been badly affected) to cushion the effects of the pandemic.

Volunteers

The Charity is currently blessed with an army of committed volunteers who give their time and skills freely to support every of its program. A conservative estimate would place the total hours provided freely by these volunteers at over 3000 hours each year which would exceed £30,000 if paid at a lowly £10 per hour

Future Development and Plans

The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in society.

It will also continue to look out for a larger facility as it is currently outgrowing its present building. The charity’s future plan will also focus on the development and wellbeing of members and the community. The charitable function of the organisation will be intensified during the coming years.

Training will be offered to members and the community in basic financial management and how to develop financial freedom. Education will also be offered on health and life insurance. Some members, who are professional in this area, have shown interest to offer their services and advice to members and the community.

The charity will also look at educating the community on healthy eating and mental health education. Emphasis will be placed on the spiritual development of members. Training will be given on how to live a Godly life, and how to be a better citizen of the United Kingdom. In addition, there will be career talks arranged for the children at the charity, to expose them to the various career options available to them.

5

RCCG DOMINION PARISH, HOUNSLOW Trustees Report (continued) for the ear ended 31st December 2020 y

Internal Controls and the Mitigation of Major Risks

The Trustees have put proper accounting procedures in place to ensure good financial practices are adopted for all transactions. They also have in place insurance for the Church property and contents against damages and fire which is reviewed each year.

Independent Examiner

The Trustees appointed Jilon Solution Ltd as the Charity's Examiner to review its annual accounts for the period ended 31 December 2020.

Review of Transactions and Financial Position

During 2020 income of £92k was received. Cash in hand and at Bank amounted to £36k and Fixed Assets at Net Book Value of £448k were held by the Charity this year.

The value of the RCCG Dominion Parish, Hounslow’s net assets as at 31st December 2020 was £474k.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Charity Trustees are responsible for preparing the Trustees’ Annual Report and 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 and 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 the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees recognise their responsibilities to keep proper accounting records that 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. They are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

6

RCCG DOMINION PARISH, HOUNSLOW Trustees Report (continued) for the ear ended 31st December 2020 y

Trustees Responsibilities

The Charities Act 2011 require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the surplus of the trust for that period. In preparing those financial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees: Oluwole Oyenekan

Date: 22 October 2021

7

RCCG DOMINION PARISH, HOUNSLOW Independent Examiner's Report to the Trustees for the ear ended 31st December 2020 y

I report to the Trustees of The Redeemed Christian Church of God (RCCG) Dominion Parish, Hounslow on the accounts for the year ended 31st December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes to the accounts as set out on pages 11 to 17.

Respective Responsibilities of Trustees and Examiner

The Trustees of the charity are responsible for the preparation of the accounts. The Charity’s Trustee consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

Mrs Oyin Ayandokun (FCCA) Jilon Solutions Ltd

Sign…………………………

Date……22 October 2021………………….

8

RCCG DOMINION PARISH, HOUNSLOW Statement of Financial Activities

for the year ended 31st December 2020

Notes


INCOME FROM DONATIONS:
Donations and Legacies
3
Investments
Other Income
TOTAL INCOME

EXPENDITURE ON:
Charitable Activities
4
TOTAL EXPENDITURE

NET INCOME
Gross Transfer Between Funds
5
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted Restricted
TOTAL
TOTAL
Funds
Funds
2020
2019
£
£
£
£
91,279
300
91,579 118,599
24
0
24
64
0
0
0
0
91,303
300
91,603 118,663
68,304
0
68,304
79,947
68,304
0
68,304
79,947
22,999
300
23,299
38,716
0
0
0
0
394,458
56,659 451,117 412,401
417,457
56,959 474,416 451,117

Movements on all reserves and all recognised gains and losses are shown above. There were no recognised gains or losses in the year. All activities derive from continuing operations.

The notes on pages 11 to 17 form part of these financial statements.

9

RCCG DOMINION PARISH, HOUNSLOW Balance Sheet

As at 31st December 2020

Notes


Fixed Assets
Tangible assets
2 & 5

Current Assets
Debtors
7
Cash at bank and in hand
6
Total Current Assets
Creditors: amounts falling due within
one year
8
NET CURRENT ASSETS
TOTAL ASSETSless current
liabilities
Creditors:amounts falling due in
more than one year
9
NET ASSETS
Funds of the Charity
General Funds
Restricted Funds
TOTAL FUNDS		 Unrestricted Restricted
TOTAL
TOTAL
Funds
Funds
31-Dec-
20
31-Dec-
19
£
£
£
£
404,753
43,692
448,445
449,907
85,874
60
85,934
67,619
23,562
12,907
36,469
42,790
109,435
12,967
122,402
110,409
6,251
0
6,251
6,580
103,185
12,967
116,152
103,829
507,938
56,659
564,597
553,736
90,181
0
90,181
102,618
417,757
56,659
474,416
451,117
417,457
0
417,457
394,458
56,959
56,959
56,659
417,457
56,959
474,416
451,117

Approved by the Trustees on 22 October 2021. and

Signed on their behalf by: Oluwole Oyenekan .

10

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements for the year ended 31st December 2020

1. ACCOUNTING POLICIES

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

Incoming Resources with related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only Included in the SOFA when the charity has unconditional entitlement to the resources.

Tax reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA during the same period as the gift to which they relate.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts In kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts In kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts but if provided Is described in the Trustees' annual report.

Designated funds

Designated funds are allocated out of unrestricted funds by the Trustees for specific purposes. The use of such funds is at the Trustees’ discretion. There were no designated funds during the year.

Investment Income

This is included in the accounts when receivable.

11

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements (continued) for the year ended 31st December 2020

Investment gains and losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Expenditure and liabilities

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the Trustees meetings and cost of any legal advice to Trustees on governance or constitutional matters.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs Include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Changes in Accounting policies and previous accounts

There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts.

Assets

Tangible fixed assets for use by the charity:

These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a straight-line basis over their estimated useful lives. An overall rate of 25% is applied per annum for computers and equipment and furniture and fittings are depreciated over three years.

No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

12

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements (continued) for the year ended 31st December 2020

Basis of preparation:

The financial statements are prepared on the historical cost basis convention (as modified to include the revaluation of investments) in accordance with the Charities Act 2011, "Accounting and Reporting by Charities" (SORP 2015), applicable accounting standards and the Companies Act 2006. The accounts have been prepared on a going concern basis. The charity meets the definition of a public benefit entity under FRS 102.

The Charity has claimed exemptions available in Section 1a of FRS 102 not to prepare a cash flow statement since it is a small charity.

2. TANGIBLE
FIXED ASSETS

Cost
Disposals
Cost at

Depreciation
Charge
Disposals
Depreciation at
Net Book Value
Net Book Value		 Land &
Building
Computer
Equipment
Furniture
&
Fixtures
Office
Equipment
Total
£
£
£
£
£
01-Jan-20
446,783
4,918
6,779
17,322
475,802
0
-3,169
-3,704
-11,370
-18,243
31-Dec-20
446,783
1,749
3,075
5,952
475,802
01-Jan-20
0
3,844
4,729
17,322
25,895
0
437
1,025
0
1,462
0
-3,169
-3,704
-11,370
-18,243
31-Dec-20
0
1,112
2,050
5,952
27,357
31-Dec-20
446,783
637
1,025
0
448,445
31-Dec-19
446,783
1,074
2,050
0
449,907
3. DONATIONS AND
LEGACIES:
Notes

Tithes
Main Offering
Thanksgiving Offering
Building Fund
5
Mission Fund
Other Donations
Gift Aid Repayment
7

TOTALS		 Unrestricted
Restricted TOTAL
TOTAL
Funds
Funds
2020
2019
£
£
£
£
57,528
0
57,528
68,371
13,726
0
13,726
25,381
1,475
0
1,475
3,096
45
0
45
450
195
240
435
1,130
55
0
55
1330
18,255
60
18,315
18,843
91,279
300
91,579 118,601

13

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements (continued) for the year ended 31st December 2020

4. EXPENDITURE ON:
Charitable Activities
Notes
Payroll costs
10
Travel Expenses
Vehicle Costs
International Travel
Welfare_&_Catering
Ministerial Gifts
Missions
Gifts to Individuals
Gifts to Organisations
Head Office Remittance
11
Conferences and Retreats
Events
Adult
Children
Youth
Rates
Rental Charges
Repairs and Maintenance
Utilities
Cleaning
Insurance
Mortgage Interest
Other Premises Costs
Advertising & Publicity
Postage Printing and Stationery
Telephone/Fax/Broadband
Office Equipment and Furniture
IT and Office Software
Training and Seminars
Volunteer Expenses
Consultancy and Professional Fees
Accountancy Fees
Sundry Expenses
Bad debts
Depreciation

TOTALS		 Unrestricted Restricted TOTAL TOTAL
Funds
Funds
2020
2019
£
£
£
£
37,721
0
37,721
33,313
312
0
312
413
0
0
0
0
300
0
300
0
0
0
0
174
550
0
550
1,675
0
0
0
2,029
940
0
940
1,994
0
0
0
0
12,585
0
12,585
16,165
0
0
0
1834
0
0
0
262
0
0
0
227
155
0
155
533
0
0
0
0
4,089
0
4,089
3,211
721
0
721
988
68
0
68
1,240
2,239
0
2,239
1,132
0
0
0
526
1,063
0
1,063
999
1,991
0
1,991
3,082
174
0
174
0
100
0
100
0
191
0
191
684
1,004
0
1,004
1265
0
0
0
95
467
0
467
0
260
0
260
0
912
0
912
1086
0
0
0
100
1,000
0
1,000
1140
0
0
0
2030
0
0
0
1440
1,462
0
1,462
2310
68,304
0
68,304
79,947

14

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements (continued) for the year ended 31st December 2020

5. RESTRICTED FUNDS
Building Fund		 Balance
Income Expenditure
Transfer
Balance
01-Jan-20

31-Dec-20
£
£
£
£
£
56,659
300
0
0
56,959
56,659
300
0
0
56,959

The restricted building fund is for the purchase of the church property. The restricted fund is part represented by the cost of church property (£43,692). The excess is wholly represented by cash reserves of the charity.

6. CASH AT BANK AND
IN HAND
Current Account
Deposit
Petty Cash
TOTALS
7. DEBTORS AND
PREPAYMENTS
Loan to Members
Recoverable Gift Aid
TOTALS		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
31-Dec-20
31-Dec-19
£
£
£
£
5,803
4,817
10,620
12,204
17,327
8,085
25,412
30,149
437
0
437
437
23,567
12,902
36,469
42,790
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds 31-Dec-20
31-Dec-19
£
£
£
£
8,000
0
8,000
8,000
77,874
60
77,934
59,619
85,874
60
85,934
67,619		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
31-Dec-20
31-Dec-19
£
£
£
£
5,803
4,817
10,620
12,204
17,327
8,085
25,412
30,149
437
0
437
437
23,567
12,902
36,469
42,790
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds 31-Dec-20
31-Dec-19
£
£
£
£
8,000
0
8,000
8,000
77,874
60
77,934
59,619
85,874
60
85,934
67,619
85,874
60
85,934
67,619

The 2020 pandemic has meant that the loan repayment to members had to be suspended and it is expected to resume in the 2021 financial year.

8. CREDITORS: Amounts
Falling Due Within One Year
Mortgage Loan
Accountancy Fees		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
31-Dec-20
31-Dec-19
£
£
£
£
5,271
0
5,271
5,500
980
0
980
1080
6,251
0
6,251
6,580

15

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements (continued) for the year ended 31st December 2020

9. CREDITORS: Amounts Falling
Due in More Than One Year
Mortgage Loan		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
31-Dec-19
31-Dec-18
£
£
£
£
102,618
0
102,618
116,474
102,618
0
102,618
116,474

The mortgage is a variable rate Barclays commercial loan facility of £342,000 for a term of 25 years which commenced on 19th July 2006.

The annual commitments under non-cancelling operating leases and capital commitments are as follows: £5,271 (2019: £5,500) in regard to the mortgage.

10. STAFF COSTS AND NUMBERS

10. STAFF COSTS AND NUMBERS 2020 2019
£ £
Salaries 27,038 27,038
Employers NIC 8,074 3,803
Pension 2,609 2,472
37,721 33,313
Employees who were engaged in each of the following activities:
2020 2019
£ £
Activities in furtherance of organisation's objects 1 1
1 1

Employees who were engaged in each of the following activities:

No employee received emoluments in excess of £60,000

11. RELATED PARTIES - RCCG UK & WORLDWIDE

The Charity is a parish of The Redeemed Christian Church of God which has parishes all over the world. The parish’s relationship with RCCG is governed by an ‘Agreement for Common Purpose’ duly executed as a deed between it and the Governing council of RCCG UK.

During the year 2020, a total of £12,585 was paid to The Redeemed Christian Church of God, a charitable company of Redemption House (referred to as 'Head Office Remittance'), towards its upkeep and majorly towards the World Evangelism Mission (WEM). The latter contribution is part of the fulfilment of the Charity's mission towards evangelism worldwide. The Governing Document for this payment is the Agreement for Common Purposes dated 2nd August 2001.

16

RCCG DOMINION PARISH, HOUNSLOW Notes to The Financial Statements (continued) for the year ended 31st December 2020

No payments were made to Trustees, or any persons connected with them during this financial period. No material transaction took place between the organisation and a Trustee, or any person connected with them.

12. RISK ASSESSMENT

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

13. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees’ report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

17