Redeemed Christian Church of God {RCCGI Faith Chapel Charity No. 1085735 31 December 2020 **Redeemed Christian Church of God (RCCG) Faith Chapel CONTENTS** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 3|| |Independent Examiner's Report||4| |Statement of Financial Activities||5| |Summary Income and Expenditure Account||6| |Balance Sheet||7| |Notes to the Accounts|8 to|12| |Detailed Statement of Financial Activities|13 to|14| Page | 1 **Redeemed Christian Church of God (RCCG) Faith Chapel TRUSTEES ANNUAL REPORT** The Trustees, present their report with the unaudited financial statements of the charity for the year ended 31 December 2020. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Charity No. 1085735** ## **Registered Office** 108 Brookehowse Road Bellingham-Catford London SE6 3TW ## **The Trustees** The following Trustees served during the year: M. Agbeseyi V. Aziba F. Olatunde **Outgoing Trustee – Jan 2021** O. Opata ## **Accountants** VICOM ACCOUNTANCY SERVICES LTD 164 WYNDHAM ROAD LONDON SE5 0UB ## **Bankers** Barclays Bank Plc 29 Borough High Street Southwark London SE1 1LY Page | 2 **Redeemed Christian Church of God (RCCG) Faith Chapel TRUSTEES ANNUAL REPORT** ## **ACHIEVEMENTS AND PERFORMANCE** The year witnessed the emergence of a one in a lifetime viral pandemic, termed ‘Coronavirus (COVID 19). The outbreak of the COVID 19 brought every economic, social and political structures to a virtual standstill adversely affecting every walk of lives. The pandemic was hot on the heels of the uncertainty caused by the Brexit in the preceding two years. The church worldwide was not ‘shield’ from this and had to adapt, adjust and align to new technological platforms (ZOOM) complimented by FACEBOOK to continue to propagate the gospel. For Faith Chapel, this was also the same and we were able to adhere to various UK Government restriction guidance instituted to reduce the incidence of infection and ultimate deaths. The church services were held online via the Zoom and FACEBOOK Platforms when the first lockdown was announced to commence on the 23[rd] of March 2020. The church instituted the following measures in preparation of the easing of the first lockdown in June 2020: - (i) Cleaning of the church and engagement of LEWISHAM COUNCIL recommended contractor to provide specialist rodent control services - (ii) re-arrange the chairs in the comply with the 2 meters social distancing rules - (iii) provide hand sanitizers at strategic locations in the church - (iv) allocate a different entrance and exit route - (v) provide signage in key areas for movement - (vi) keep a register to record names and details of members that attended the church - (vii) Taking of temperatures of members before being allowed into the church - (viii) Provide face marks to members The church continued to monitor the UK Government data, pronouncement and events in the country and returned to the physical service in August 2020 but still retained the online Zoom service for those who were not comfortable to physically attend. A second lockdown announced by the UK Government in December 2020, which made the church to return to full online service, but regular cleaning and maintenance of the church facilities was maintained. Though the level and number of community programmes were reduced as lockdown measure were pronounced by the UK Government, the church was able to still organise programs and events to achieve its mission of ‘reaching out and making a visible impact by extending love of God to people within its immediate community and beyond. ## 1. Community Action Group One of the key functions of the CAG is ‘Feeding the Hungry’ held every fortnight with the sole purpose of providing hot meals, sandwiches, teas, coffees and drinks to the vulnerable living within and outside Lewisham area. During the first lockdown, this activity was temporary stopped but resumed during the second lockdown with lesser restriction by just handing over foods to the service users without the options to sit down. One major funding initiative was the registration of the charity with the LOVE YOUR NEIGHBOUR UK government initiative to financial reimburse charities providing foods and other basic household items to the homeless and less privilege. Page | 3 **Redeemed Christian Church of God (RCCG) Faith Chapel TRUSTEES ANNUAL REPORT** ## **PLANS FOR FUTURE PERIODS** Church services to be held both in the physical church and through the online ZOOM platform. A wider audience and investment in online streaming, sermon uploads in social media (e.g., ZOOM, Facebook) as well as providing a COVID 19 free church environment to members wanting to attend the physical church. Increase number of partnerships with UK charities, though we presently support Compassion UK in children education Greater emphasis to be placed in supporting missions’ fields in improvised communities in the world. Seminars, workshops and training that will cut across all spheres of living such as employability, education, health, finances, marriages etc. will be organized for the local community as target audience Scheduled visitation of the homeless, hospitals, nursing homes; and inmates in prisons Establishment of a new parish for the advancement of the Kingdom of God is still on- going and ministers will be trained with the requisite skills and the church doctrine The church will continue to operate in a risk- free environment within the church building and its premises in order to maintain a safe and healthy environment for the users by carrying out a risk assessment of it processes premises and procedures. Avocations for members and visitors to continue to follow the COVID guidelines set by the UK Government Page | 4 **Redeemed Christian Church of God (RCCG) Faith Chapel INDEPENDENT EXAMINERS REPORT** ## **Independent Examiner's Report to the trustees of Redeemed Christian Church of God (RCCG) Faith Chapel** I report on the accounts of Redeemed Christian Church of God (RCCG) Faith Chapel for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes. ## **Respective responsibilities of trustees and examiner** The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to: examine the accounts under s.145 of the 2011 Act; to follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general directions given by the Charity Commission. 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 you as trustees concerning any such matters. The procedures 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: - (1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the Charities Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 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. VICTORIA ONAYEMI {BA(Hons) Acct, FMAAT} VICOM ACCOUNTANCY SERVICES LTD 164 WYNDHAM ROAD LONDON SE5 0UB 13 September 2021 Page | 4 **Redeemed Christian Church of God (RCCG) Faith Chapel STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 31 December 2020** |**Notes**
**Income and endowments**
**from:**
Donations
2
Other
3
**Total**
**Expenditure on:**
Charitable activities
4
Other
5
**Total**
**Net expenditure**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**Restricted**
**funds Total funds**
**Total funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
101,694
2,996104,690
103,208
12,964
- 12,964
18,663| |---|---| ||114,658
2,996
117,654
121,871
18,569 11,478
30,047
43,928
88,094-
88,094
100,111| ||106,663
11,478
118,141
144,039| ||7,995 (8,482)
(487)
(22,168)| ||94,690
154,400
249,090
271,258| ||102,685
145,918
248,603
249,090| Page | 5 **Redeemed Christian Church of God (RCCG) Faith Chapel SUMMARY INCOME AND EXPENDITURE ACCOUNT** ## **for the year ended 31 December 2020** |Income
**Gross income for the year**
Expenditure
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net expenditure before tax for the year
**Net expenditure for the year**|**2020**
**£**
117,654
117,654
81,498
36,643
118,141
(487)
(487)|**2019**
**£**
121,871| |---|---|---| |||121,871| |||104,845
39,194| |||144,039| |||(22,168)| |||(22,168)| Page | 6 **Redeemed Christian Church of God (RCCG) Faith Chapel BALANCE SHEET** ## **at 31 December 2020** |**Notes**
**2020**
**£**
**Fixed assets**
Tangible assets
7
660,716
660,716
**Current assets**
Cash at bank and in hand
28,375
28,375
**Creditors:**Amount falling due within one year
8
(1,488)
**Net current assets**
26,887
**Total assets less current liabilities**
687,603
**Creditors:**Amounts falling due after more than one year
9
(439,000)
**Net assets excluding pension asset or liability**
248,603
**Total net assets**
248,603
**The funds of the charity**
**Restricted funds**
Restricted income funds
10
102,685
**Unrestricted funds**
10
102,685
145,918
145,918
**Total funds**
248,603|**2019**
**£**
697,359| |---|---| ||697,359
11,904| ||11,904
(1,050)| ||10,854
708,213
(459,123)| ||249,090| ||249,090| ||94,690| ||94,690
154,400| ||154,400| ||249,090| Approved by the board on 28 October 2021 And signed on its behalf by: V. Aziba Trustee 8 September 2021 Page | 7 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** ## **for the year ended 31 December 2020** ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared 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 if Ireland (FRS 102) - Charities SORP (FRS 102) (effective 1 January 2015) ## **Change in basis of accounting or to previous** ## **accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** Unrestricted These are available for use at the discretion of the trustees in furtherance of the funds general objects of the charity. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. **Income** Recognition of Income is included in the Statement of Financial Activities (SoFA) when the income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with Where income has related expenditure the income and related expenditure is related reported gross in the SoFA. expenditure Donations Voluntary income received by way of grants, donations and gifts is included in the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Income from tax reclaims is included in the SoFA at the same time as the Tax reclaims on donations and gift/donation to which it relates. gifts Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Page | 8 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** ## **Expenditure** Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable and services in the furtherance of its objects, including the making of grants and activities governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other These are support costs not allocated to a particular activity. expenditure ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for nay trade discounts due. ## **2 Income from donations** 707 ||**Unrestrict**||||||| |---|---|---|---|---|---|---|---| ||**ed**||**Restricted**||**Total**||**Total**| ||||||**2020**||**2019**| ||**£**||**£**||**£**||**£**| |Tithes|62,474||-||62,474||55,808| |Offerings|32,245||-||32,245||29,755| |Rental|6,975||-||6,975||15,421| |Building & Welfare|||||||| |Funds|-||2,996||2,996||2,224| ||||||||| ||101,694||2,996||104,690||103,208| ||||||||| Page | 9 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** **3 Other Income** |**Other Income**|||| |---|---|---|---| |**4 Expenditure**
**Charitable activities**
**Unrestricted**
_Charitable activities_
18,419
Central Office & Festival
150
of Life
_Governance costs_
Loan & Mortgage Interest
-
18,569
Other Income
Giftaid|**Unrestricted**
**on charitable**
**Restricted**
-
-
11,478
11,478
**£**
3,516
9,448
12,964|**Total**
**2020**
**£**
3,516
9,448
12,964|**Total**
**2019**
**Total**
**Total**
**2019**
**£**
28,622
713
14,306
43,641
**£**
4,997
13,666
18,663| |||**Total**
**Total**
**2020**
**£**
18,419
150
11,478
30,047|| ## **4 Charitable activities** Page | 10 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** - 5 **Other expenditure** |**Unrestricted**
**£**
Employee costs
Motor and travel costs
Premises costs
Amortisation,
depreciation,
impairment, profit/loss
on disposal of fixed
assets
General administrative
costs
Legal and professional
costs
**6 Staff costs**
Salaries and wages
No employee received emoluments in excess of £60,000.
**7 Tangible fixed assets**
**Cost or revaluation**
**Land**
**& Buildings Church Bus**
**£**
**£**
At 1 January 2020
688,484
2,759
Additions
- -
At 31 December 2020
688,484
2,759
**Depreciation and**
**impairment**
Depreciation charge for
the year
34,424
690
At 31 December 2020
34,424
690
**Net book values**
At 31 December 2020
654,060
2,069
At 31 December 2019
688,484
2,759
**8 Creditors:**
amounts falling due within one year
**2020**
**£**
Other creditors
1,488
1,488
39,146
939
3,646
36,643
5,944
1,776
88,094
39,146
39,146|**Total**
**2020**
**£**
**Equipment**
**£**
6,116
-
6,116
1,529
1,529
4,587
6,116
39,146
939
3,646
36,643
5,944
1,776
88,094|**Total**
**2019**
**£**
**Total**
**£**
697,359
-
697,359
36,643
36,643
660,716
697,359
**2019**
**£**
1,050
1,050
41,672
732
9,090
39,194
6,966
1,744
99,398
39,520
39,520| |---|---|---| Page | 11 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** ## **9 Creditors:** amounts falling due after more than |amounts falling due after more than||| |---|---|---| |one year
Bank loans and overdrafts|**2020**
**£**
439,000
439,000|**2019**
**£**
459,123| |||459,123| ## **10 Analysis of net assets between funds** ||**Unrestricted**|**Restricted**|**Total**| |---|---|---|---| ||**funds**|**funds**|| ||**£**|**£**|**£**| |Fixed assets|77,601|583,115|660,716| |Net current assets|25,084|1,803|26,887| |Creditors due in more than one year
and provisions|-|(439,000)|(439,000)| ||||| ||102,685|145,918|248,603| Page | 12 **Redeemed Christian Church of God (RCCG) Faith Chapel DETAILED STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 31 December 2020** |**activities**
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of land and
buildings
**Income and endowments from:**
Donations and
legacies Tithes
Offerings
Rental Income
Building & Welfare Funds
Other
Other Income
Gift aid

**Total income and endowments**
**Expenditure on:**
Charitable activities
Charitable activities
Central Office & Festival of Life

Governance costs
Loan & Mortgage Interest
**Total of expenditure on charitable**
Employee costs
Salaries/wages
Staff training
Motor and travel costs
Travel and subsistence

Premises costs
Light, heat and power
Premises repairs and|**Unrestricted**
**funds**
**2020**
**£**
62,474
32,245
6,975
-|-
**Restricted**
**funds**
**2020**
**£**
-
-
-
2,996
2,996
-
-
-
2,996
-
-
-
11,478
11,478
11,478
-
-
-
-
-
-
-
-|34,424
**Total funds**
**2020**
**£**
62,474
32,245
6,975
2,996
104,690
3,516
9,448
12,964
117,654
18,419
150
18,569
11,478
11,478
30,047
39,146
-
39,146
939
939
1,812
1,834
3,646|**Total funds**
**2019**
**£**
55,808
29,755
15,421
2,224| |---|---|---|---|---| ||101,694|||103,208| ||34,424
3,516
9,448
12,964
114,658
18,419
150
18,569
-
-
18,569
39,146
-
39,146
939
939
1,812
1,834
3,646|||4,997
13,666| |||||18,663| |||||121,871
29,622
713| |||||30,335| |||||14,306| |||||14,306| |||||44,641
39,520
2,152| |||||41,672| |||||732| |||||732| |||||5,038
4,052| |||||9,090| |||||36,236| Page | 13 ## **Redeemed Christian Church of God (RCCG) Faith Chapel DETAILED STATEMENT OF FINANCIAL ACTIVITIES** |Depreciation of
Church Bus
Depreciation of Equipment
Bank charges
General insurances
Software, IT support and related
costs
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Professional fees
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net expenditure**
**Net expenditure before other**
**gains/(losses)**
Other Gains
**Net movement in funds**|690
1,529
842
1,967
125
883
2,127
42,587
1,776
1,776
88,094
106,663
-
7,995
7,995
-
7,995|-
-
-
-
-
-
-
-
-
-
-
11,478
-
(8,482)
(8,482)
-
(8,482)|690
1,529
842
1,967
125
883
2,127
42,587
1,776
1,776
88,094
118,141
-
(487)
(487)
-
(487)|920
2,038
966
2,009
589
1,103
2,299| |---|---|---|---|---| |||||46,160| |||||1,744| |||||1,744| |||||99,398| |||||144,039
-| |||||(22,168)| |||||(22,168)| |||||-| |||||(22,168)| Page | 14