The Redeemed Christian Church of God (RCCG) Victory Assembly (Registered Charity Number- 1085107) Trustees, Annual Report and Financial Statements for the year ended 31 January 2025.
The Redterned Christian Church of God IRCCGI Wictory AssemtAy Contents Referen and Administrative Details Trustees, Annual Report Independent Examiner's Report ststement of Financial Activities Balan Sheet Notes to the Financial Ststements
Thè Redeemed Christian Church of Gcxl IRCCGI Victory Assembly Rreference administrative detall s of the charity, its trustees and advisers For the year ended 31 January 2025. Trustees Professor Adewale Adebajo FRCP. MBE- Chaimian Mrs Stella Oviasu Pastor Isaac Ale5hinloye Charlty Re8iStration No 1085107 HMRC Charlty Tax R•hrnnce No XR53622 Pthdp&l Address Unit 14, ewOod'S Mill Nursery Street, Sheffield S3 8GG Bankers National Westminster Bank Sheffield City Centre 42 High Street Sheffield 512GE Indepond•nt Examln•r Resour Accountancy Practi Limited 46 Hollywood Way Erith Kent DA82
The Redeemed Christtan Church of God IRCCGI Virtory Assembly Trustees. Annual ReFQrt For the year ended 31 January 2025. The trustees submit their rewrt and the financial statements of The Redeemed Christian Chruch of God IRCCGI Victory Assembly for the year ended 31 January 2025. The trustees confirmed that the annual relrt and financial of the charity comply with the current statutory requirements of the charity goveming documents and the provislons of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charitie5' issued In March 2(K15. Status The charity was constltuted under a Trust deed dated 17 January 2C(11 arKf Is registered In England and Wales wlth charity number 1085107 on 21 February 21J)l. Appointèment or Election of Trustees Trustees are elected and ct>opted undèr the terms of the trust deed. Organisational Structure and Declslon Maki The charity is organised in such manner that permits the trustees to meet and manage its affalrs. The pald staff and volunteers manage the day to day administration of the church. Rtlated Party Relationships The charTty is a parish ofThe Redeemed Chrlstian Churth of God IRCCGI whith has parishes all over thè worfd. The charity's relationship Mth other RCCG parishes is governed by an Agreement for Common Purposes,. Prinupal Funding Funding has been prowded rnain through tithes and offerir£s by churth members. Reserve Poli The trustees have a8reed that the level of unrestricted reserve should be a mlnimum of one month's outgoings, which should include the monthly paent for the church PrOtty'S lease. Obejrts and Activities The prindpal alms & objectives of the charity are: The advancement of Christian faith Employing diverse ways of teaching arml educating members on the knowledge of God To glve Chrisitian care and welfare to all members of the community as necessary To organlse children and youth actlvitles. to promote unlty Sn the course of developin8 deepèr spiritual growth To prowde hospttality to visitin8 ministers ol the 8ospel Working in Cfroperation with other Christian Churthes and organisations and support events with similar Christian aims and objertives.
The Redeemed Christian Church of God IRCCGI Wittory Assembly Trustees. Annual Report (Continued) For the year ended 31 January 2025. The principal activities of the charity include- The advancement of the Christian faith in accordance the dortrine5 set out in the statement of faith companies in the schedule. The relief of poverty. CommTtted to building people and changing lives for good. The spiritual and social activwties engaged in (luring the period indude-. Walkin8 in Victory Conference in November and the Achievers conference in Maywhich were aimed at revtvinB members for greater impact in their daily living. Others are Couples Retreat in February 2024. Quartely Breakfast Meetings with Victory Assembly Levites IVA'S Men Group) with an hourly prayer meetin& every first Sunday of each month. The Athievers Group (the women group of Wictory Assembly) Meets everyday online via zoom for prnyers. Durlng the period under review, the charity sponsored Childn through the work of compassion UK with our monthly donation. We also reach out to nursing homes at Easter and Christmas Season: we held carol service for them and occasionally make donations to the Children's Hospttal through our CITY CONNECT ministry every year. During the year we distributed hundreds of love Christfnas turkey hampers for struggling families. We hope to continue gp4ing out love Christmas hampers for the foreseable future. In April 2023, we held Ps8lm's Alive for the first time in many years.Psalm's Alive is a free annual musical event that hosts nights of praise, worship and prayerfor the city of Sheffield and United Kingdom. Statement of Trustees, Responsibiltties The charity trustees are responsible for preparing thefinancial statements for each financial pericd which should gives a clear view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistentty: Make judgement and estimates that are reasortable and prudenL The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable the trUStee5 to prepare financial statements. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and irregularities. The trustees have tjeclared th3t they have approved the trustees pOrt above. Signed on behalf of the tnJstees= Name: Position.. Signature= Date.. Lg /&/zo2f
The Redrned Christian Church of God (RCCG) Victory Assembly INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 JANUARY 2025 Independent examiner's report to the Trustees of the Redeemed Christian Church of God (RCCG) Victory Assembly. I report to the charity TrUStS on my examination of the accounts of the charty for the year ended 31 January 2025 which is set out on pages 7 to 13. RESPONSIBILrfIES AND BASIS OF REPORT A5 the Trustees of the Charity, you are resFonsible for the preparation of the accounts In accordance with the requirements of the Charities Act 201 Ivthe 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 settion 145(5)(b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no matters have come to my attention in accordance the examination giving me cause to believe that in any material respett: l. Accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Att; or 2. The accounts do not accord with those records; or 3. The accounts do not comply with the requirements concerning 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this rewrt in order to enable a proper understanding of the accounts to be reached. This report is made solely for the Charity's Trust, as a IM)dy, 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 Charty's Trustee those matters l am reqUId 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. Akintayo Ojo FCCA Chartered Certified Accountant 46 Hollywood Way Erith Kent DA8 2QE Date: 41 August 2025
The Redeemed Christian Church of God IRCCGI Victory Assembly ststement of Flnanclal Actlvlties the year eThJed 31 January 2025. Unrestrlrted Restrtrted Funds Funds Notes Total Total 2025 2025 2025 2024 Income from- Donations 384.162 8,178 392,341 424,261 2,395 Bank Interest 91 3.613 Total IncomlrE Resources 384.253 11.791 396,044 426,656 Expenditure on: Charitabl• activttie5 328.298 328,298 353.770 Total expendtture 328,298 328,298 353.770 Net income1lexpendlreI 55.955 11.791 67.746 72,886 Transfèrs tween funds io Net movement in funds 55,955 11,791 67,746 72.886 Total funds brought forward 29.618 I3597 165,515 165,515 Total funds carrled forward 85.573 147,688 233.261 238,401
The Redeemed Christian Church of God IRCCGI Victory Assembly Balance Sheet As at 31 January 2025. Notes 2025 2024 Fixed Assets 6,763 4,035 Tanglble Assets Current Assets 14,113 292.220 4,988 246,767 251.755 Debtor and Prepayments Cash and bank balances 306.333 Total current assets 750 750 Creditors.. amount falling due within a year 305,583 251.CrfJ5 Net Current Assets Total a55ets less current liabilities Creditor5- 3mount falling due after more than one year Total Net Assets 312,347 255,040 Funds of the Charity 117.146 68,018 General funds io 195.200 187,022 Restricted incomè funds li 312,347 25S,040 Total funds The accounts have been prepared in accordance with the special provtsion of Statement Of Recommended Practice; Accounting and Rep¢yting by Charities ISORPI i&sued March 2(K15 35 modified for smaller charities. The trustees declared that they have approved the accounts above. signed on behaw of the charity trustees-. Name: P051tion: •I/L Signature.. Date..
The Redeemed Christian Church of God IRCCGI Vlctory Assembly Notes to the Accounts For the ytar ended 31 January 2025. l. Accounting Policies (al General The finandal ststements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in ac£ordan with the Financial Reporting Standard apICable in the UK and RepU1C of Ireland IFRS 1021 leffertive I january 20151. Charity SORP. the Financial Reportlng Standard aPitabl& in the UK and Rèptjblic of Irèland IFRS 1021 and the Companies Act 20%. The finanual statements have also adopted Charities SORP IFRS 1021 Bulletin l and have taken the exemption not to prepare a cash flcw statement. Redeemed Christian Church of God IRCCG) Wictory Assembly meets the definition of a public benefit entity under FRS 102. Ibl Going concern The accounts have been prepared on a going concern basis as the Trustees believe that no material urKertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure until January 2023. The budgeted income and expenditure Ès sufficient with th• level of reserves forthe charity to able to mnttnue as a goin8 concern. Icl Income Income is recognised in the SOFA when the tharity has entiementt0 the funds, any performance Conditions attathed to the monies have been met. the receipt of the income is probable and its amount Can k relSably measured. Income from govemmtnt and other grants, whether'capital. grant or'revenue. grants, is reco8ni5ed when the Charity has entidement to the funds. any performarKe conditions attathed to the grants have been met. it is probable that thè irt¢ome will be received and the amount can be measured reliably and 15 not deferred. Idl Expenditure and liabiifcies Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that setdement will be QuIred and the amount of the obligation can be measured reliably. lrrecoverae VAT is charged as a cost agalnst the activity for which the expenditure was incued. (el Tangible fixed assets All assets Costing mcfe than £4CQ are (apltalised and valued at historical c05t Depreciation has beèn ¢aFculated to write down the cost or valuation. less estimated residual value. of all tangible fixed assets over their expected useful lives on a straight line basis.
The Redeemed Christian Church of IRCCGI Vittory Assembly Notes to the Accounts {Continuedl For the year ended 31 January 2025. The applicable rates are: Multi-media equipment Musical equipment Fumiture & rr equipment Vehlde 25% 12.5% lfj Cash and cash equivalents Cash and cash equvalents comprise cash on hand and call deposlt4 and other sl)ort-term highly liquld investments that are readity concertible to a knrtn amount of cash and are suty'ect to an insi8nifKant risk of change in value. Igl Trade debtors Trade debtor5 are amounts due from customers for Servi performed in the ordinary course of business. TradÈ debtors are recognised Initialty at the transaction price. Tly are subsequently measured at amortised using the effective interest method, less pr¢)vlsion for impairment. A provtsion for the impairment of trade debtor5 is established when thère 15 objective evidence that the company will not be able to collect all amounts due accordin8 to the ori8nal terms of the receivable& Ihl Trade creditors Trade creditors are oblgations to pay for goods or services that have been acquired in the ordinary course of buslness from supplier& Accounts payaile are classified as current liabilrties rf the tharty does not have an unconditional rlght at the end of reporting perto¢ to defer settlement of the ceditor for at least twefve months after the reporting date. If there is an uncondltional rlght to defer settlement for at least twelve after the reporting date. they are presènted as norpcurrent lalbtiitles. Trade creditors are reco8nisoJ initially at the transxtTron Pri and subsequently measured at amortised cost using the effertive interest method. lil Fund accounting unStricted fvnds are donations and other Income receivable or8eneTrted for the objects of the organisation wlthout further speclfled purpose and are avallalJe as general furKIs. Restricted funds are don*ions whith the donor has Stified are to be solely used for partSoJlar areas of the charivs work or for 5pecifr artistic projects being uTrJertakine by the tharfty. til Pensions The organsation has defined contributions pensron scheme. Contributions a charged in the accounts as they become payable in accordance wtth the rules of the schème.
The Redeemed Chrtsttan thur¢h of GOKI (RCCGI Victory Assembly Notes to the Accounts {Continuedl For the year ended 31 January 2025. Unrestrirted Re5trirted Funds Funds Total Total 2025 2025 2025 2024 2. Income from grants and donation5 rithe and offerin8S Thanksgiving 315.018 4178 323,197 366,261 9.270 9,270 332.467 26.391 324.288 8.178 392,652 Seed donations Grants Gift Aid claimable 59,874 59,874 31.609 384.162 8.178 Unrestricted Restrlrtèd FuTras Fund 392.341 424,261 3. Expenditure on charitable activfties Total Total 2025 2(f25 2025 2024 Staff cost 159,8C6 Is9,6 174,067 Payroll fees 750 79) 750 Honorarium & expenses- guest ministers 25.677 25,677 30,123 Charitable gifts & offeri 13.4% 13,496 13,104 Depreaation charge 2.324 2,324 4.306 Church rentsl costs 45.097 45.097 40,194 Repairs and maintenance 1.360 Hotel and accommodatlon 16.278 16,278 12,3CX) Events 129 129 11,594 Insurance, licenses and legal fees 5,675 Statlonery, printing and publicity 452 452 1,9tE Telephone, intemet and postage 6,529 6.529 5,623 Welfare 9,1 9,150 6.101 Bank and card receipt faollty tharges and interest Travel 3,219 3.219 15,407 3,470 8,334 8,476 2,955 8,916 20,327 15,407 Psalm's 1ve 3,470 8.334 Professional Fees Refreshments & Hospitality &476 7,015 Training and stsff development 5.391 5.391 6.704 Independent examination 750 7X) 750 Total Resources Expended 328,298 328,298 353,770
The Redeemed Christian Church of God IRCCGI Victory Assembly Notes to the Accounts (Continued) Forthe year eThJed 31 January 2025. 4. Staff Costs and numbers 2025 2024 Unrestricted Restricted Totsl Total Salaries 124,197 24.326 14,C((i) 5,383 124,197 24.326 14,Cn)I 5.383 134,161 25,374 14,(KK)I 6,731 10.8CK) Employerfs National Insurance Employer's Allowance Pension Cost Pastoral Scheme 159,8C 159,806 173.1%6 No employee reiVed emoluments of more than £fA).CKX). Tr average number of staff durrA8 the year was 8 12023.. 81 5. Fees paid to the independent examiner's organIsan 2025 2024 Independent examlner's fee 793 6. Trustees remuneration, bènefits & expenses Trustees reaved no remuneration, bènefits or expense5 in this peric#l. Multi-media Furniture & MusÉeal Equipment IT Equipment Equipment 7. Tangible Fixed Assets Cost of ¥aluatlon Vehlde Total as at l February 24. Addltlon 38,322 44,053 150.660 5.052 5,052 Disposals asat31 January2025. 71.737 38,322 44,053 155,712 iPr•Clo110n as at l February 2024. Charged for the period 1,013 66.684 38,321 40,FA)7 146,625 1.263 2.324 Disposals as at 31 January 2025. 1,213 67,947 38,321 41.468 148,949 Net Book Valuè as at 31 January 2025. 387 3.7 2,585 6,763 asat31January 2024. 587 3,446 4,035
The Redeemed Christian Church of IRCCGI Victory AsSemY Notes to the Accounts Icontinuedl For the year ended 31 January 2025. 8. Debtors 25 2024 Other debtors 14,113 4,988 9. Credltors= amount falllng due withln one year 2025 2024 Trade Credltors Othertaxes & social securlty Accruals 79) 750 750 Balan Fei> Incoming 224. resources Resources expended Balance Jan 2025. 10. Rèstrided funds Transfers Building fund 187.022 8.178 195,2CX) I87,22 8.178 195,200 Balan Incomin8 resources Resources expended Balance cld Prior year comparathe b/fv Transfers Building fLFfKI 131,C63 187,022 131,053 55.969 187,022 Bullding Fund The tharity is looking to wrchase her property. SpecifK donations are belng raised for this. Unrestricted Restricted Funds Funds 11. Net Assets by fund Total 25 Fixed assets 6.763 110,383 6,763 Net current 4S5ets 195,2(J) 305.583 117,146 195,2 312,347 Unrestricted Restrirted Funds Funds Prior year comparative Totsl 2024 Fixed assets 4.035 63,983 4.035 Net C3Jrrent assets 187,022 251,C(15 255.040 68,018 187,022