CHARITY NUMBER: 1085049 

RCCG WATER OF LIFE SANCTUARY 

RECEIPTS AND PAYMENTS ACCOUNTS FOR THE FINANCIAL YEAR ENDING 31ST DECEMBER 2020 



## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## CONTENTS OF THE ACCOUNTS FOR THE PERIOD ENDED 31ST DECEMBER 2020 

||Page|
|---|---|
|Report ofthe Trustees|2-5|
|IndependentExaminer’s Report|6|
|IncomeAndExpenditureAccount|7|
|Balance Sheet|8|
|Notestotheaccounts|9-12|



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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

° 

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31ST DECEMBER 2020 

The trustee presents their report with the financial statements of the Charity for the year ended 31ST December 2020. The trustees have adopted the provisions of the statement of recommended practice (SORP) Accounting and Reporting by charities issued in 2005. 

## REGISTERED CHARITY NUMBER 

1085049 

## CHARITY’S PRINCIPAL ADDRESS 

Kings Centre St Christopher Lodge Simpson Milton Keynes MK6 3AL 

## NAMES OF THE CHARITY TRUSTEE 

Adekunle Solaru Segun Omole Keji Aruna 

## BANKERS 

HSBC 207 Queensway Bletchley Milton Keynes 

Natwest Bank Queensway Bletchley Milton Keynes 

INDEPENDENT EXAMINER Abiodun Bamgbala FCCA 17 Swithland Broughton Milton Keynes MK10 7BA 

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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31ST DECEMBER 2020 

## STRUCTURE, GOVERNANCE AND MANAGEMNET 

The Charity — Water of Life Sanctuary (WOLS) Water of Life Sanctuary is a member of the Redeemed Christian Church of God (RCCG), which has Parishes all over the world. The relationship between RCCG and Water of Life Sanctuary is governed by an “Agreement for Common Purpose” dated 11" June 2001. The Charity, Water of Life Sanctuary (WOLS) is constituted as a “Trust” and governed by a “Trust Deed” dated 11" June 2001. 

## Objectives and activities 

1. The advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith and; 

2. The relief of poverty 

## Grant Making policies 

Under the “Agreement for common purpose”, Water of Life Sanctuary has agreed to make regular contributions to the World Evangelism Mission through RCCG, UK, support missionary organisations such as Festival of Life, African Mission, Good Women’s fellowship, Annual Convention held at the International Headquarter, including, other obligations as agreed. 

## Governance 

The Trust is governed by Trustees, who are appointed under the terms of the trust deed. The Trustees attend training regularly to develop and enhance their knowledge. In addition, bulletins and other knowledge-based resources regularly forwarded to the trust by the Charity Commission also serve as updates regarding their assignment as trustees. 

## Structure 

The Spiritual aspect of the church is handled by the Parish Pastor. The Trustees exercise the day to day oversight of the running of the church. In addition, the trustees meet regularly to review the operations of the church and also make decisions on major issues affecting the church. 

The church is organised into groups of; men, women, youth and children for administrative convenience, effectiveness, and to ensure that the needs of each group are adequately met. 

## Risk Management 

The trustees perform the duty of safeguarding the charity against major risks, by reviewing the operations / procedures of the charity’s activities regularly, and by putting adequate controls in place to safeguard the assets of the charity. 

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FOR THE PERIOD ENDED 31ST DECEMBER 2020 

## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## REPORT OF THE TRUSTEES 

## Volunteers 

The charity enjoys the services of various volunteers, who contributed enormously in various areas of service provision, development and implementation of the church’s vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations. 

During the year, more volunteers joined the work force to help run the charity and make it more effective in discharging its charitable obligations, especially, to its community. 

## Achievement and Performance 2020 

1. Organised online Zonal Workers Conference 2. Online Youth Seminars. This programme targeted the youths in Milton Keynes, for both physical, mental, and spiritual development 

3. Food Bank - We have been able to maintain our level of welfare within the charity, and local community on quarterly basis. 

4. Online AHAVA Conference; our main annual prayer/spiritual event 5. Online women conference 

6. Online training regarding COVID 19 infection control. 

7. Sponsorship/Adoption of Children with the International Charity, World Vision 

## Financial Review 

## Reserves policy 

At the end of the financial year, the trust holds total cash at Bank of £5,615 all which are unrestricted funds. £2,829 is held in Building fund Account and £2,786 to meet the day to day running of the church. The Charity is also aware of the need to have a documentary policy in place regarding reserve; this is currently under review by the trustee. 

## Principal funding sources 

The charity’s main source of fund this year has been through voluntary donations from members. 

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31ST DECEMBER 2020 

## Future Development 2020 

1. Expand the scope of her Food Bank Operation, especially by seeking to collaborate with other charities in the community 

2. Initiate post covid-19 training initiative for single parents with the objective of skilling/re-skilling them in standard productivity packages/software to go back to work. 

## ON BEHALF OF THE CHARITY 

Pisssgve:COME MGin(i? 3: [pea Trustee eel Mo REM SESIO: PAMALAL, Muno Bi lrwlacay’ Trustee Date: Arilrol Q02-(— 

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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY INDEPENDENT EXAMINER’S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2020 

[report on the Accounts of the charity for the year ended 315? December 2020; set out in pages 7 to 12 

## Respective Responsibility of Trustees and examiner 

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 43 (2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. 

## It is my responsibility to: 

- e Examine the accounts under section 43 of the 1993 Act, 

- ¢ To follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, and 

- e To state whether particular matters have come to my attention. 

## 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 charity 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 I do not express an audit opinion on the view given by the accounts. 

## Independent examiner’s statement 

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

1. which gives me reasonable cause to believe that in, any material respect, the requirements: e to keep accounting records in accordance with section 41 of the 1993 Act; and ° to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met ; or 

2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 


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Name & address of independent examiner<br>Abiodun Bamgbala<br>FCCA17 Swithland y | ae hie /AOL]:<br>Broughton mE<br>Milton Keynes ~<br>MK10 7BA<br>**----- End of picture text -----**<br>


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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31ST DECEMBER 2020 

|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
||Notes|Funds|Funds|2020|2019|
|||£|£|£|£|
|INCOMINGRESOURCES||||||
|Incoming resources from generated||||||
|funds||||||
|-Voluntaryincome|1|54,519|0|54,519|50,184|
|- Investment income||0|0|0|0|
|Totalincoming resources||54,519|0|54,519|50,184|
|RESOURCESEXPENDED||||||
|Charitable activities (Supportcost)|2|42,454|0|42,454|48,905|
|Governance costs||0|0|0|0|
|Total resources expended||42,454|0|42,454|48,905|
|Netincome/(expenditure)||12,065|0|12,065|1,280|
|TRANSFERS||||||
|Gross transfersbetween funds||0|0|0|0|
|Netmovement infunds||12,065||12,065|1,280|
|Funds at 1 January2020||242,641|0|242,641|241,361|
|Fundsat31December2020||254,706|0|254,706|242,641|



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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## BALANCE SHEET AS AT 31ST DECEMBER 2020 

|||Total|Total|
|---|---|---|---|
||Notes|2020|2019|
|||£|£|
|FIXED ASSETS||||
|Tangible assets<br>Investments|7|412,855<br>0|421,016<br>0|
|||412,855|421,016|
|CURRENT ASSETS||||
|Debtors&Prepayments|8|15,339|9,829|
|Cash atbank||5,615|5,158|
|||20,954|14,987|
|CREDITORS||||
|Amountsduewithinoneyear|9|6,322|8,678|
|NETCURRENTASSETS||14,632|6,309|
|TOTALASSETSLESSCURRENT||||
|LIABILITIES||427,487|427,325|
|CREDITORS||||
|Amountsdue aftermorethanoneyear|10|172,781|184,684|
|TOTALNETASSETS||254,706|242,641|
|RESERVES||||
|Unrestrictedfunds||242,641|241,361|
|Surplus CurrentYear||12,065|1,280|
|||254,706|242,641|



These financial statements were approved by the Board of Trustees on 30" Oct, 2021 The notes on pages 9 to 12 form part of these financial statements. 


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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 31ST DECEMBER 2020 

## 1. Incoming resources from voluntary income 

||Unrestricted|Restricted||Total|Total|
|---|---|---|---|---|---|
||Funds|Funds||2020|2019|
||£|£||£|£|
|Tithe|23,456||0|23,456|17,863|
|Offering|12,138||0|12,138|14,452|
|Thanksgiving|2,075||0|2,075|3,955|
|Building|2,140||0|2,140|3,031|
|Special offering&Donation|8,210||0|8,210|231|
|GiftAid|6,500||0|6,500|10,652|
||||||50,184|



## 2. Support Costs 

. 

|2. Support Costs||||||
|---|---|---|---|---|---|
||Unrestricted|Restricted||Total|Total|
||Funds|Funds||2020|2019|
||£|£||-|£|
|Salary|10,763||0|10,763|Lit|
|Tax|634||0|634|349|
|Employer Pension|978||0|978|945|
|Remittance to Central Office|4,529||0|4,529|6,730|
|Honorarium|500||0|500|0|
|OutreachWork|1,333||0|1,333|900|
|Transport, Travel& Fuel||||||
|costs|338||0|338|724|
|Printing& Stationery|0||0|0|39|
|Utilities|2519||0|2519|2,763|
|Building -repairs&||||||
|maintenance|1,924||0|1,924|480|
|Telephone|1,000||0|1,000|980|
|Youth -Destiny for||||||
|Greatness|720||0|720|2,608|
|BankCharges|0||0|0|139|
|Bank Interest Paid|6,506||0|6,506|9,171|
|Insurance|1,729||0|1,/29|1,952|
|VehicleMaintenance|0||0|0|50|



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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 31ST DECEMBER 2020 

||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|
||Funds|Funds|2020|2019|
|Welfare|200|0|200|314|
|General Repairs&Maintenance|0|0|0|800|
|General Expenses|618|0|618|389|
|Depreciation|8,161|0|8,161|8,161|
||42,454|0|42,454|48,605|



## 3. Fixed Assets 

||Building|Motor<br> Vehicle|‘<br> aa<br>aie<br>ee|‘<br> aa<br>aie<br>ee|Church/<br>office<br>equipment|Total|
|---|---|---|---|---|---|---|
||£|£|£||£|£|
|COST|||||||
|At IstJanuary2020|478,507|12,516|11,366||17,356|519,744|
|Additions|0|0||0|0|0|
|Disposal|0|0||0|0|0|
|At31stDecember2020|478,507|‘12,516|11,366||17,356|519,744|
|DEPRECIATION|||||||
|At IstJanuary2020|60,921|12,516|11,366||13,926|98,729|
|Charge|7,838|0||0|323|8,161|
|Disposal|0|0||0|0|0|
|At31stDecember2020|68,759|12,516|11,366||14,249|106,890|
|NETBOOKVALUE|||||||
|At 31stDecember2020|409,748<br>0<br>=<br>::<br>:2:3:.0—uuNoucNNOnhATw—N—q~q=qaOoOas—Kw—w—OOOOOOOOOOOOO|||0|3,107<br>412,855<br>eee||



|4.Netincoming/(outgoing) resources is stated after charging -Group|4.Netincoming/(outgoing) resources is stated after charging -Group|||
|---|---|---|---|
||UnrestrictedFunds<br>RestrictedFunds|Total|Total|
|||2020|2019|
||£<br>£|£|£|
|Depreciation|8,161<br>8,161<br>a<br>oh||8,161|



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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 31ST DECEMBER 2020 

## 5. Taxation 

RCCG Water of Life Sanctuary is a registered charity and is eligible for the exemptions from taxations available to charities on their charitable activities. No charge to taxation therefore arises. 

|6. Debtors|2020|2019|
|---|---|---|
||£|£|
|GiftAid Repayment|13,339|9,927,|
|OtherDebtors|0|907|
|AccruedExpenses|0|0|
||15,339|9,829|



||2020|2019|
|---|---|---|
|7. Creditors—amounts falling duewithin oneyear|£|£|
|Taxes&National Insurance Contribution|2105|1,536|
|Central Office|1,045|2,994|
|PensionFund|1,695|717|
|Other Creditors|1,477|3,431|
||6,322|8,678|
||2020|2019|
|8. Creditors—amounts falling due afteroneyear|£|£|
||172,781|184,684|



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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), WATER OF LIFE SANCTUARY 

## NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 31ST DECEMBER 2020 

## 9. Funds 

## Unrestricted funds 

Brought Carried forward at forward at 01/01/2020 Income Expenditure 31/12/2020 £ £ £ £ 242,641 54,519 (42,454) 254,706 

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