The Redeemed Christian aiurth of God (RCCG) Wirtory Assembly {Registered Charity Number- 1085107) Trustees, Annual Report and Financial Statements forthe year ended 31 January 2021
The Redeemed Christian Church of God IRCCGI WittoryA55embly Contents ReferencÈ and Administrattve Details TrLStees' Annual Report Independent Examiner'5 Report Statement of Financial Activtties balan Sheet Notes to the Financial Statements
The Redeemed Christian ChLwth of God IRCCGI Victory Assèmbty Rreference and admtnistratwe details of the charity. itstFUStee5 and advisers Fortheyear ended 31 January 2021 ProfessorAdewale Adebaio FRCP. MBE- O)atnn3n Mr5 Stella Oviasu Pastorlsaac Ale5hinloye Charity Registration No 1085107 HMRC CharltyTax fteferen No XR53622 Principal AddT•SS Unit 14, Alzlewood's Mill Nursery Street, Sheffield $3 8GG Banke National Westminster Bank Sheffield City CÈntre 42 High Street Sheffield 512GE Independent Examinor Resource Accountancy Practice rn[ted 46 Hollywood Way Erfth Kent DA8 2QE
The Redeemed Chrtstran Church of God IRCCGI Wtctory Assembty Trustees. Annual ReFJrt Forthe year ended 31 January 2021 The trustees submit their rekx)rt and the finanaal statements of The Redeemed Chrrstian a)Nch of 6od IRCCGI Victory Assemblyfor the year ended 31 January 2021. The twstees corsfirmed that the annual report and financial of the Charity romply with the current statuttsry requirernents ofthe charitygoverning Crnents and the provislons of the Statement of Recomrnended Prartice ISORPI'Accounting anil Reporbng by Charities. issued in March 25. Status The charsty was con5tttuted under a Trust deed dated 17January 2CX)l and È5 rewstered in Ergland and Wales with charity number 1085107 on 21 February 2WI. Appointernent or Election of Trustees Trustees are electg.d and cTropted underthetÈm)s of the trust deed. Organisational 5twcture and Deasion Maknng The charity ts orgartised in such mannerthat permitsthetrLLStees to meet and manage its affai1& The pald staff and volunteers manage the day to day adrninr5tration of the churth. Related Party Relationships The charity is a parish of The Redeemed Christian Church of God IRCCGI which has pari5he5 all overthe wodd. The charity's relationship wtth other RCCG parishes 15 governed by an Agreement for Common PLtrposes'. Principal Fundlttg Funding has been provided mainty through tithes and offerin85 by church memb•r Reserve Policy The trustees have agreed that the level of unrestricted reserve should be a minimum of onè mofith's osrtgoings, whi¢h should include the monthly payment forthe church propervs leas Obejcts and Activitles The principal aims & objectNes of the thar¥ty are: The advancement of Christian faith Employin8 dwer5e way5 of teaching and educating rnernbers onthe knowledge of God To give Chri51tian care and welfareto all member5 of the communty a5 necessary To orionise children and youth activrties, to promote unrty in the course of developing deeper spirttual growth To prwde hosptta5ity tovssiting ministersof the Bosp JNorkin8 in cLperatIOn wth other Chrr5tian Churches and Organ10ns and 5UPPOrt events with similar Christian aim5 antl objectives.
The Redeemed Christian Churth of God IRCCGI VJctoryAssembty Tee$. Annual Rep)rt (Continued} Fortheyear ended 31January 2021 The prlncipal actNities of the charrty include-. The advancernent of the ChTi5tian fatth in attordènce with the doctrirtes set OLrt in the statement of fatth COrnPaAies in the sthedule. The rdief ol p)verty. CommÉttedto building people and than8in8 livesfor good. The spiritual and social acttviknes engaged in during the period include: Walking in Victoryconference and the Achievers conference which were aimed at rewwng members forgreater Impart in the daily liwng. Other5 are welcome dinrwforfresh students in Sheffield. Commun¥ outreach programme5 aimed helpingthe needing vthhin the communtty xrtdfood bank SuPrt. Duringthe period under F@wew, the pandemic had adveT5e effect on the actmtses of the tharity. Most of the the events of the charttywere done wrtually. Despite thevarious lockdown challenges. the tharrty was at)le to .support people in need via the distribLEtion of fijod stuffs and otherfinancial supports. The charity continued to offer its counsellsng services tethnokey and in tompliance with the g¢)vemment social distancing guidelirse. The charity beneffted from thegovernment Coronaviru5Job Retention scheme. It also received grant frr community fund projert. Various donations were atso madeto othercharrties in sUPP)rt of theircharitabje toutse. Statement of Tnjstees. Respon55bilitie5 The charity trustee5 are responslble for preparingthefinanual statements for eh financial period wh should gives a clear view of the state of affarrs of the charity and ol thÈsurplLts or deficit of the charityforthat period. In preparKng those finanaal Statements, the trte£s are required to: Select 5Vttable accounting policies artd then apptythem consisteftttr. Make jL%d8ement and estimate5 th are r••sonable and FÈ*eTht. The tru5tee5 are re5pon5iblefor keepin8 proper accounting recordswhich d¢10$@ wlth reasonable accuracy at anytime the financièl rffjsition of the charity and eftablÈ the tFU5tee5 to prepare financial statements. The trustees are a150 reswn5ible for sHFeguarding the assets of the charity and hen¢e fortaknng reasonable steps forthe prevention of fraud and irregularities. The trustees have de¢5ared that they have approvedthe tru5tee5 report atrKJVe. Signed on behaw of the trustees= Name.. AD EMJIIiC- cbl-4-( fL F I ILUS (E65 VILtD LY kssL<(E tiv Position= Signature.. Date..
The Redeemed Christian Church of God (RCCG) Wictory Assembly INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 JANUARY 2021 Independent exarninerfs report to the Trustees of the Redeemed Christian Church of God (RCCG) Victory Assembly. I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 January 2021 which is set out on pages 7 to 14. RESPONSIBILrrIES 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 2011fthe 2011 Aci?. 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 dirertion5 given by the Charity Commission under section 145(5)(b) of the 2011 Act. INDEPENDENT EXAMINER'S ATEME I have completed my examination. I confirni that no matters have come to my attention in accordan the examination giving me cause to believe that in any material respect: l. 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 requirements conrning the form and content of accounts Set out in the Charities (Account 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 independent examination. I have no concems 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 for the Charity's Trustees, as a in accordance with Part 4 of the Charities (Accounts and Reports) Regulation 2008. My work has been undertaken so that I might state to the Charity's Tnjstee those matters I am required to state to them in an independent examinerfs 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. Akintayo Ojo FCCA Chartered Certified Accountant 46 Hollywood Way Erith Kent DA8 2QE Date: go October 2021
The Redeemed Christian Church ¢*God IRCCGI WictoryAsswnbty Statement of nanCIal Nth%rybe5 Fortheyear ended 31 January 2021 Unrestricted Restrfcted Funds Funds Total Total 2021 2021 2021 2020 Income from: Donattons 235.945 54.175 29J.120 244,555 Bank Interest 156 Total Incoffling Re5QUtce5 235945 54.175 290.120 244,712 Expendtture on: CharFtsble act¥vitie5 194,305 49,331 49.331 243,636 243.636 271.089 Total expendtture 194,305 271,089 Net inc0mellexpendr(uI 41,640 4,844 126,3771 TTansfer5 between funds io Net movement in funds 41.640 4.844 126,3771 Totsl funds brought forward 8275 72.988 81263 107,640 Total fun& carried forward 49?15 77,832 127,747 81,263
The Redeemed Chr15tian Church Of6( IRCC61 Assemb Balance Sheet As at 31 January 2021 Notes 2021 2020 Fixed Assets Tangible Assets 4,552 4,134 Cu¥rent Assets Debtor and Prepayments Cash and bank balance5 6.820 9,204 118.363 74.145 Total current assets 125,183 83,349 Creditors= amount falling due within a year 8.173 6,219 Net Current Ats 117,010 77.130 Totsl assets less current liabilities Creditor5". amount falllng due after more than one year Tota5 NetA£sets 121.5G2 81,264 Funds of the Charity General funds 48.574 8.276 Restrlcted illcorne fund5 io 72,988 72.988 Total funds li 121.562 81.264 The tnJstees declared that they have approved the accounts above. Signed on behalf of the tharity trustee&- Name-. MÉL Poslrlon.. Signature= Date.. 18 Iio ILoL4
The RedeTr Christian Church of God IRCCGI WictoryA55eTnUy Notestothe Accounts Fortheyear ended 31 January 2021 l. Accoullting Policies lal General Thefinanual statements havÈ bÈÈrt prepared in accordance wilh Accounting and Reportin8 by Charities: Statement of Retommended Practice applicableto thariknes preparingtheir accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFK$ 1021 leffective I January 20151. Charrty SORP. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the CompaniesArt 26. The finanaal statements have also thpted Charities SORP IFRS 1021 Bulletin l and havetsken the exemption notto prepare a ¢ash ftow statement. Redeemed Christian Church of Grxl IRCCGI WictoryAssemL4y meets the definition of a public benefft entlty under FKS 102. Ibl Going concern The accounts have been prepared on a goirtg concern bas asthe Trustees beiievethat no rnerial uncertaintie5 exist.TheTru5tees have considered the Iwel of fund5 hdd and the expected of income and expendrture urtrtil January 2021. The budgeted income and expendÈture is suffiaent with the level of reseryes forthe ¢harrtyto be aet0 continue a5 a going COnM. Icl Income Income is recognised in the SOFAwhen the tharity has entr(lementtotheJnds, ary perform4n Conditions attathed to the monies have been met. the receipt of the income t5 probable and its amount Can be reliably measured. Incomefrgrn government and othgr 8Trnts, whether'caprtal. Brant or'revenue, grants. 15 reu)gni5ed when the Charity has entitlementtothe fund5, any perfom)ance condslions atwhed tothe gF3nts have been met. it is piobable that the incorne will be reNed and the arnountcan be measured relfably antl is not deferred. Idl Expenditure and liabtlities Expenditure is recognised oncethere is a legal or construth obligation to make a Panent to athird party. it 15 probable that settlement will be required aftdthe amount of the obligation can be measured retiabty. IrreThrable VAT is charged as z c05t ainStth* actmty for which the wenditure was incurred. lel Tanglble fixed assets All assets costing morèthan £4CQ are cawtslised and valued at historical c05t Depreciation has been calculated to wrrtÈ down the cost or valuation. less estimated restdual value, of all tangible fixed 05sets overtheir expected useful lives on a straight line basis.
The Redeemed Christian Churth of God IRCCGI IfictoryAssemb NotL%totheA¢tsurtts IG)ntinuedl For the year ended 31 January 2021 The applicable rate5 are= MU1-Media equipment 25% Musical equipment Furnitu & equipment Vehicle 25% 12.5% If) Cash and cash equivalents Cash and cash equyalents u)mprise &75h on hand and call deposits, and other short-temi highly liquid investments that are reI$1Y concertibleto a known amountof cash and arÈ subjectto an ignIficant risk of ch6n8e tn value. Igl Trade debtors Trade dÈbtDrs are amounts due from £ustomew5forserwces performed in the 0rdinaryc0u¢ gf l>usiness. Trade debtors are recognised initialty at the transaction price. They are sub5equerttly measured at amortised cost using the etFective interest method, less prow5ion for imphiTmenL A Fmtsion forthe impairnient of trade debtors Is established when there is obFectNe thatthe company will not be able to collett all amounts due accordingtothe orignal terms of the receivables. Ihl Trade credito Trade credttor5 are obliotions to pay for goods or5er¥ice5 that have been acqurrÈd in the ordinary course of business from supplier5. Accounts payable are dassffied a5 CLtrrent liabilthe5 rfthe thartty does not have an unconditional right at the end of reting period, to deFersettlement of the tedrtorfor at least tsvelve rnonths afteT the reporting date. tf there is an uncorsditional riBht to defer settlementfor at l*ast e[Ve after the reporting date, they are presented as non-wrrent laibilities. Trade creditors are recognised initialty3t thetransaction Pri and subsequently measured at amort¢sed cost usingthe effective interest method. 111 Fund accounting Unrestricted funds are donatiQn5 and pther income receivable orgenuated forthe objects of the organi5ation without further specified purpose and are available as general funds. Restrirted funds are donations whith the donor ha5 spertfied areto be solely used for particular areas of thÈ charity's work or for spec?fic artistic projects beÉng vndertaknne bythe tharity. til Pen5Tons The organsation has defined contributions pension sche. ContribLrtions are charged ir¢ the accounts as they become payable in accordance wtth the rules of eh scheme.
The Redeemed thTFStian Church of God IRCCGIYictory A55embJy NotestotheAccounts Icontinuedl Forthe year ended 31 January 2021 unreStrirt Restrirted FLtnd5 Fund5 Total Total 2021 2021 2021 2020 2. Incomefrom grants and donation5 rithe and offerings 197,948 197,948 2(),330 Thanksgiwng 5.939 5339 7.671 11.9551 Decline card donatio 203,887 20387 206,046 Seed donation5 479 479 3,471 Grants 54,175 54,175 fjrft Aid claimable 31,580 31,580 35,038 235,945 54,175 290,120 244,555 3. Expendlture on charrtable aciivtkne5 Fund5 Fund Totsl Totsl 2021 2020 Staff cost 128.585 44,185 172,770 161,997 Payroll fees 510 510 510 Honorarium & expenses- guest minthr5 5.274 5,274 Charitable grft5 & offering 6329 6,329 6.223 Depreciation charge 1541 1,541 1,223 Church rental Costs 23.670 23.670 55,517 Repairs and maintenan 759 759 1,295 Hotel and accommodation 205 205 3,158 Utilities 3,492 Insurance. licenses and legal fe 4218 4.218 5.556 Stationery, printing and pubiicty 625 625 1.610 Telephone, Internet and postage 4,151 4,151 4.839 Subscription and publications 6.6) 7,200 Bank and card receipt faality tharge5 and ÉnterL8t Travel 1,670 1,670 1262 2,048 3.647 116 iJ46 Refreshments TrainiThg and staff development 4.561 335 Independent examination Total Resourtes Expended 600 6CX) 194305 49.331 243,636 271.089
The Reileemed (hristian ChLtrch of God IRCCGI Wictory Assembly Notesto the Accounts IContinLkedl Forthe year ended 31 January 2021 4. Staff Costs and number5 2021 2020 Unfestricted Restricted Total Salaries 105.596 H.185 149,780 139,154 12,113 I3.0) 2,931 Employer's National Insuran Employels loWanCe Pension Q>st 12,974 14.CWI 3216 iowK) 12.974 14.(X)01 3,216 10,800 172,770 Pastoral Scheme 10,8 128,585 44.185 161.997 No employee reiVed emoluments of more than £60.C. The average TrLtmberof staff durinE the yearwa$ 7 12020-. 61 5. Fees paid tothe independent examinerf5 ornIS?li0n 2021 2020 Independent examiner's fee 600 6. Trustees remuneration. benefft5 & expenses Trustees recived no rernuneration. beneffts or expenses in this pwiod. ulti-merfia Furnitufe & Musical Equipment tt Equiprnent Equipment 7. Tangible Fixed Assets Cost of valuation vÈhl Total as at l February 2020 60.471 36.783 30,617 129.471 Addition 1.494 1,959 Disposa15 as * 31 January 2021 61964 37.249 30,617 131.430 Depreciatio as at l February 2020 Charged forthe period 215 58994 866 35,952 331 30,176 147 125337 1.541 Disposals as at 31 January 2021 413 59.860 36283 30323 126.878 Net Bookvalue a5 at 31 January 2021 1.188 2.105 966 294 4,552 as at 31 January 2020 1.385 1,476 831 441 4.134
The Redeemed chrilan Church of God IRCCGI VlcioryAssemb Note5 tothe Ac£ounts (Continued) Forthe year erÈded 31 January 2021 8. Debto 2021 2020 Other debtors 6.820 9.204 9. Credttors- amountfalling due wtthin one year 2021 2020 Trade Creditors Othertaxw & 50clol security Arrruals 7.573 5,619 8,173 6.219 Balance F Incoming 2020 r¢Èoufces expended Transfers Balance Jan 10. Restricted funds 2021 Buildingfund 72.988 72,988 72,988 72,988 Balance Incoming Resource5 expended Balance Prforyefrr ¢omyrati TraJ¥sfrs Buildingfund 72,988 72,988 72.988 72,988 Building Fund The charity is looking to purchase her property. Spethfft¢ donotion5 are being ratsal forthis. Unrestricted Resiricted Funts Funds 11. Net Assets byfund Total 2021 Fixed assets 4.552 44.022 4.552 Net Cyrnt assets 72,988 72,988 117,010 48.574 121.562 Unrestricted Restricted Funds Funds Prior year comparatNe Total 2020 Flxed assets 4,134 4,142 4,134 Net current assets 72.988 77.130 8,276 72.988 81264 Pa8e 13