Redeemed Christian Church of God {RCCGI Faith Chapel Charity No. 1085735 31 December 2021 **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 2021. ## **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 ## **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 church continued during the year despite the economic and social challenges posed by COVID 19. The Pastorage was able to reach out to church members to keep the morale high and support in prayers and other welfare needs. Consequently, the Welfare Fund was highly utilised compared with priors’ years in alleviating the needs of vulnerable members. The feedback showed members were appreciative of the love and support received. There was great improvement in the online service via Zoom and the church witnessed increased attendance both for physical attendees and those joining the service online. This invariably slightly increased the church income compared to 2020. One major achievement during the year was the installation of the multi-media video camera which improved the quality of the church online service where various section of the church building could be highlighted at the same time as the pulpit area. The sound quality was also greatly enhanced. Though the level and number of community programs 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. The fortnightly Feeding the Hungry program which is part of the mission of the Community Action Group was one of the key initiatives that continued throughout the Coronavirus pandemic. This event is now widely known within the local community and has been a useful avenue in impacting lives, especially for the vulnerables. ## **PLANS FOR FUTURE PERIODS** - 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 to maintain a safe and healthy environment for the users by carrying out a risk assessment of it processes premises and procedures. - Advocation for members and visitors to continue to follow the COVID guidelines set by the UK Government. Page | 3 **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 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, 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 16 August 2022 Page | 4 **Redeemed Christian Church of God (RCCG) Faith Chapel STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 31 December 2021** |**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**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
87,097
18,579105,676
97,715
27,515
- 27,515
19,939| |---|---| ||114,612
18,579
133,191
117,654
21,621 12,589
34,210
30,047
98,945-
98,945
88,094| ||120,566
12,589
133,155
118,141| ||(5,954)
5,990
36 (487)| ||102,685
145,918
248,603
249,090| ||96,731
151,908
248,639 248,603| Page | 5 **Redeemed Christian Church of God (RCCG) Faith Chapel SUMMARY INCOME AND EXPENDITURE ACCOUNT** ## **for the year ended 31 December 2021** |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**|**2021**
**£**
133,191
133,191
95,765
37,390
133,155
36
36|**2020**
**£**
117,654| |---|---|---| |||117,654| |||81,498
36,643| |||118,141| |||(487)| |||(487)| Page | 6 **Redeemed Christian Church of God (RCCG) Faith Chapel BALANCE SHEET** ## **at 31 December 2021** |**Notes**
**2021**
**£**
**Fixed assets**
Tangible assets
7
635,421
635,421
**Current assets**
Cash at bank and in hand
24,664
24,664
**Creditors:**Amount falling due within one year
8
(1,588)
**Net current assets**
23,076
**Total assets less current liabilities**
658,496
**Creditors:**Amounts falling due after more than one year
9
(409,858)
**Net assets excluding pension asset or liability**
248,639
**Total net assets**
248,639
**The funds of the charity**
**Restricted funds**
Restricted income funds
10
151,908
**Unrestricted funds**
10
151,908
96,731
96,731
**Total funds**
248,639|**2020**
**£**
660,716| |---|---| ||660,716
28,375| ||28,375
(1,488)| ||26,887
687,603
(439,000)| ||248,603| ||248,603| ||145,918| ||145,918
102,685| ||102,685| ||248,603| Approved by the board on 15 August 2022 And signed on its behalf by: V. Aziba Trustee 15 August 2022 Page | 7 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** ## **for the year ended 31 December 2021** ## **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 Tax reclaims on donations and the 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 accrual 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** ## **Unrestricted** 707 ||||**Restricted**||**Total**||**Total**| |---|---|---|---|---|---|---|---| ||||||**2021**||**2020**| ||**£**||**£**||**£**||**£**| |Tithes|58,035||-||58,035||62,474| |Offerings|29,062||-||29,062||32,245| |Building & Welfare|||||||| |Funds|-||18,579||18,579||2,996| ||||||||| ||87,097||18,579||105,676||97,715| ||||||||| Page | 9 **Redeemed Christian Church of God (RCCG) Faith Chapel NOTES TO THE ACCOUNTS** ## **3 Other Income** |**3 Other Income**|||| |---|---|---|---| |**Unrestricted**
_Charitable activities_
12,921
Central Office & Festival
8,700
of Life
_Governance costs_
Loan & Mortgage Interest
-
21,621
Other Income
Rental Income
Giftaid
**4 Expenditure on Charitable activities**|**Unrestricted**
**Restricted**
2,447
-
10,142
12,589
**£**
7,630
5,090
14,795
27,515|**Total**
**2021**
**Total**
**Total**
**2021**
**£**
15,368
8,700
10,142
34,210
**£**
7,630
5,090
14,795
27,515|**Total**
**2020**
**£**
3,516
6,975
9,448| ||||19,939| ||||**Total**
**Total**
**2020**
**£**
11,419
7,150
11,478| ||||30,047| 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 2021
654,060
2,069
Additions
- -
At 31 December 2021
654,060
2,069
**Depreciation and**
**impairment**
Depreciation charge for
the year
32,703
517
At 31 December 2021
32,703
517
**Net book values**
At 31 December 2021
621,357
1,552
At 31 December 2020
654,060
2,069
**8 Creditors:**
amounts falling due within one year
**2021**
**£**
Other creditors
1,588
1,588
39,027
2,123
14,437
37,390
4,668
1,300
98,945
39,027
39,027|**Total**
**2021**
**£**
**Equipment**
**£**
4,587
12,095
16,682
4,170
4,170
12,512
4,587
39,027
2,123
14,437
37,390
4,668
1,300
98,945|**Total**
**2020**
**£**
**Total**
**£**
660,716
12,095
672,811
37,390
37,390
635,421
660,716
**2020**
**£**
1,488
1,488
39,146
939
3,646
36,643
5,944
1,776
88,094
39,146
39,146| |---|---|---| 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|**2021**
**£**
409,858
409,858|**2020**
**£**
439,000| |||439,000| Page | 12 **Redeemed Christian Church of God (RCCG) Faith Chapel DETAILED STATEMENT OF FINANCIAL ACTIVITIES** **for the year ended 31 December 2021** |**activities**
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of land and
buildings
**Income and endowments from: Charitable**
**activities**
Tithes
Offerings
Building & Welfare Funds
Other
Other Income
Rental Income
Gift aid

**Total income and endowments**
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
**Expenditure on Charitable activities:**|**Unrestricted**
**funds**
**2021**
**£**
58,035
29,062
-|-
**Restricted**
**funds**
**2021**
**£**
-
-
18,579
18,579
-
-
-
-
18,579
2,447
-
2,447
10,142
10,142
12,589
-
-
-
-
-
-
-
-|32,703
**Total funds**
**2021**
**£**
58,035
29,062
18,579
105,676
7,630
5,090
14,795
27,514
133,191
15,368
8,700
24,068
10,142
10,142
34,210
39,027
-
39,027
2,123
2,123
4,164
10,273
14,437|**Total funds**
**2020**
**£**
62,474
32,245
2,996| |---|---|---|---|---| ||87,097|||97,715| ||32,703
7,630
5,090
14,795
27,514
114,612
12,921
8,700
21,621
-
-
21,621
39,027
-
39,027
2,123
2,123
4,164
10,273
14,437|||3,516
6,975
9,448| |||||19,939| |||||117,654
11,419
7,150| |||||18,569| |||||11,478| |||||11,478| |||||30,047
39,146
-| |||||39,146| |||||939| |||||939| |||||1,812
1,834| |||||3,646| |||||34,424| 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**|517
4,170
513
2,029
30
526
1,570
42,058
1,300
1,300
98,945
120,566
-
(5,954)
(5,954)
-
(5,954)|-
-
-
-
-
-
-
-
-
-
-
12,589
-
5,990
5,990
-
5,990|517
4,170
513
2,029
30
526
1,570
42,058
1,300
1,300
133,155
133,155
-
36
36
-
36|690
1,529
842
1,967
125
883
2,127| |---|---|---|---|---| |||||42,587| |||||1,776| |||||1,776| |||||88,094| |||||118,141
-| |||||(487)| |||||(487)| |||||-| |||||(487)| Page | 14