Charity number:1085879
THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY PARISH (PLACE OF VICTORY LONDON)
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
PLACE OF VICTORY LONDON Report and Accounts for the period ended 31 December 2025
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1085879
PLACE OF VICTORY LONDON Reports and Accounts
| CONTENTS | |
|---|---|
| Charity Information | 1 |
| Trustees annual report | 2-4 |
| Accountant's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to Accounts | 8-10 |
PLACE OF VICTORY LONDON Charity Information
General Overseer
Pastor E. A. Adeboye
Trustees
Felix O. Makanjuola George Onanuga Ademola Adeyemo Olajumoke O Kayode
Minister In Charge
Pastor Felix O. Makanjuola
Charity Registration No:
1085879
Meeting Place
Unit B1 Riverwalk Apartments Matchmakers Wharf 28 Homerton Road Hackney, London E9 5GL
Bankers
Natwest Bank Plc
Accountants
Gabriel Christopher & co Suite 13, Forest House 8 Gainsborough Road London E11 1HT
Page 1
PLACE OF VICTORY LONDON
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees submit their annual report and the financial statements of Place of Victory London(RCCG) Victory Parish (the charity) for the year ended 31 December 2025. The Trustees confirm that the annual report and financial statements of the charity comply with current statutory requirements, the requirements of the charity's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.
Other working names of the church are: RCCG- Place of Victory, and RCCG Victory Chapel.
STRUCTURE, GOVERNANCE AND MANAGEMENT
STATUS
The charity was constituted under a Trust deed dated 12 February 2001 and has a registered charity no 1085879
APPOINTMENT OR ELECTION OF TRUSTEES
The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the church pastor, with the consent of church trustees.
RELATED PARTY RELATIONSHIPS
The charity has a relationship with Redeemed Christian Church of God (RCCG) which has members all over the world. The charity’s relationship with RCCG is governed by an 'Agreement for Common Purposes'.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.
OBJECTIVES AND ACTIVITIES
The charity aims to support the local community through various charitable activities, including:
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Providing meals and support to the homeless.
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Organising educational workshops for underprivileged children/ youths.
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Hosting community events to promote social cohesion.
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Offering counselling and support services for families in need.
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Conducting faith services and prayer meetings
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Support and donations to other charities
ACHIEVEMENT AND PERFORMANCE
The above objectives were achieved through organising: *Community outreach events
- *Conferences and Seminars
*Welfare support to members and general public
*Various missionary activities
Page 2
GRANT MAKING POLICIES
Under the Common Purposes Agreement (see above), the charity has agreed to make contributions to RCCG (UK). In addition, the charity supports missionary organisations such as Festival of Life and World Evangelism Mission. The charity also provides support to members and public who are in need. This is done at the discretion of the trustees.
VOLUNTEERS
The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 1,600 volunteer hours were provided during the year. If this is conservatively valued at £11.00 an hour the volunteers effort amounts to over £17,600.
PUBLIC BEBEFITS
The charity continues to give advise, encouragement and needed support to the vulnerable member of the community through church services, various seminars and conferences organised by the church Drop in Christian advise centre organise by the church is well attended by members of the community
REVIEW OF ACTIVITIES
We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed.
INVESTMENT POLICY AND PERFORMANCE
The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.
FINANCIAL REVIEW
During the year, income of £46,929 was received as voluntary donations, accumulated gift aid reclaimed amounted to £13,479, and grants of £38,000 was received.
The net movement in funds for the year, as shown in the statement of financial activities, was (£12,317) deficit (Year 2024 was £32,723) deficit.
RESERVES POLICY
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
PRINCIPAL FUNDING
This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
PLANS FOR FUTURE DEVELOPMENT
The charity is looking to grow in membership and continue to develop its members to make life- changing impact in society including:
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Expanding our meal provision services to reach more individuals.
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Increasing the number of educational workshops offered.
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Developing new partnerships to enhance our counselling services.
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Exploring innovative fundraising strategies to support our activities.
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Exploring various ways of advancing the Christian ethos in an effective manner.
Page 3
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The charity trustees are responsible for preparing the Trustee's Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Observe the methods and principles in the SORP;
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Make judgement and estimates that are reasonable and prudent;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature: felixOMakanjuola
Name: Felix O Makanjuola
Date: 01-Apr-26
Page 4
PLACE OF VICTORY LONDON
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PLACE OF VICTORY LONDON
I report on the accounts of the Trust for the period ended 31 December 2025, which are set out on pages 6 to 10.
RESPECTIVE RESPONSIBILITIES OF THE 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 require for this year under section 142(2) of the Charities Act 2011 and that an independent examination is needed
It is my responsibility to:
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examine the accounts under section 145 of Charities Act 2011
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follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145 (5) (b) of the 2011 Act); and
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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 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 you as 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:
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Which gives me reasonable cause to believe that any material respect the requirements:
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to keep accounting records in accordance with section 41 of the Act, and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
Have not been met: or
- To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
A G Oyewole FCCA
Chartered Certified Accountants Suite 13, Forest House 8 Gainsborough Road London E11 1HT
01/04/2026
Page 5
PLACE OF VICTORY LONDON Statement of Financial Activities for the year ended 31 December 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| Incoming resources from generated funds: | |||||
| Voluntary income:donations | 2 | 60,409 | 38,000 | 98,409 | 66,826 |
| Activities in furtherance of the charity | - | - | - | - | |
| objects | |||||
| Total Incoming Resources | 60,409 | 38,000 | 98,409 | 66,826 | |
| Resources Expended | |||||
| Charitable expenditure | |||||
| Grants payable- individual | 3 | - | 4,418 | 4,418 | 5,375 |
| Grants payable - institutional | 4 | 7,590 | - | 7,590 | 9,090 |
| Costs of activities in furtherance of: | |||||
| charity's objects | 6 | 54,155 | 33,582 | 87,737 | 81,622 |
| Management and governance costs: | 5 | 2,880 | 2,880 | 3,462 | |
| - | |||||
| Total Resources expended | 64,625 | 38,000 | 102,625 | 99,549 | |
| Net Incoming/(Outgoing) Resources for the year | (4,216) | - | (4,216) | (32,723) | |
| Total funds at 1 January 2025 | 23,916 | - | 23,916 | 56,639 | |
| Transfer between funds | - | - | - | - | |
| Total funds at 31 December 2025 | 8 | 19,700 | - | 19,700 | 23,916 |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 6
PLACE OF VICTORY LONDON Balance sheet as at 31 December 2025
| PLACE OF VICTORY LONDON Balance sheet as at 31 December 2025 |
||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Notes | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible Fixed Assets | 9 | 4,191 | 3,231 | |
| 4,191 | 3,231 | |||
| CURRENT ASSETS | ||||
| Debtors | 10 | 8,190 | - | |
| Cash in Hand/ Bank | 8,370 | 21,646 | ||
| 16,560 | 21,646 | |||
| CREDITORS: | ||||
| Amount falling due within a year | 11 | (1,050) | (960) | |
| NET CURRENT ASSETS | 15,510 | 20,686 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 19,700 | 23,916 | ||
| CREDITORS: | ||||
| Amount falling due more than a year | 12 | - | - | |
| NET ASSETS | 19,700 | 23,916 | ||
| ACCUMULATED FUNDS | ||||
| Restricted | 14 | - | ||
| Unrestricted | 13 | 19,700 | 23,916 | |
| TOTAL FUNDS | 19,700 | 23,916 |
The accounts have been prepared in accordance with the special provision of Statement of Recommended practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.
Approved by the Trustees and Signed on their behalf:
Signature: felixOMakanjuola
Name: Felix O Makanjuola
Date: 01-Apr-26
Page 7
PLACE OF VICTORY LONDON Notes to the financial statements for the period ended 31 December 2025
ACCOUNTING POLICIES
1.1 Basis of preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards. They follow best practice as set out in the statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.
1.2 Income and Expenditure
Income and expenditure are accounted for on accrual basis
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.
Unrestricted funds are incoming resources received for the objects of the charity without further specific purpose and are available as general funds.
| Unrestricted Fund Restricted Fund Total Fund 2. Voluntary Income: Donations 2025 2025 2025 £ £ £ Tithes & Offerings 46,929 - 46,929 Gift aid claims 13,479 - 13,479 Grants - 38,000 38,000 Other Income - - - 60,409 38,000 98,409 2.1 Grant donors during the year are: Restricted Fund £ The Church Urban- Windrush Day Grant 5,000 Dinnenterpri - Social Enterprise Project 15,000 Magdalene Hospital 2,000 LB Hackney 1,000 BBC CIN - Youth Support Project 15,000 38,000 3. Grants payable - individual £ £ £ Community Welfare expenses - 4,418 4,418 - 4,418 4,418 4. Grants payable - institutions £ £ £ Word Evangelical Mission (WEM) 5,400 - 5,400 RCCG Central office 600 - 600 RCCG Camp donation 250 - 250 Barnados 600 - 600 McMillan Cancer 240 - 240 Missions and other charity donations 500 - 500 7,590 - 7,590 |
Total Fund 2024 £ 53,917 12,908 - - |
|---|---|
| 66,826 | |
| £ 5,375 |
|
| 5,375 | |
| £ 7,200 450 - 600 240 600 |
|
| 9,090 |
Page 8
| Unrestricted Fund Restricted Fund Total Fund 5. GOVERNANCE COSTS 2025 2025 2025 £ £ £ Legal & professional fees 2,444 - 2,444 Bank charges & interest 436 - 436 2,880 - 2,880 |
Total Fund 2024 £ 2,919 542 |
|---|---|
| 3,462 |
6. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| Unrestricted Fund Restricted Fund 2025 £ £ £ Music Expenses - 3,950 3,950 Visiting Speakers' expenses 300 - 300 Publicity and evangelism 1,447 - 1,447 Admin and volunteer Expenses 2,220 - 2,220 Programmes Director Allowance 17,000 - 17,000 Rent & Rates 26,168 21,640 47,808 Service Charge 1,518 - 1,518 Heating & Lighting 1,318 - 1,318 Sunday school and religious books - - - Telephone & fax & internet 629 - 629 Christmas Expenses 350 - 350 Insurance expenses 599 - 599 Printing, postage & stationery 48 - 48 Outreach & Conference 730 - 730 Children expenses 208 - 208 Mothers day expenses 300 - 300 Equipment Repairs & renewals - 6,892 6,892 Capacity Training expenses - 1,100 1,100 Travelling and hotel expenses 400 - 400 Depreciation 920 - 920 54,155 33,582 87,737 |
2024 £ 4,649 3,000 855 2,550 42,000 11,072 - - 240 147 - 314 913 10,170 200 650 595 2,900 658 710 |
|---|---|
| 81,622 |
6.1 NET MOVEMENT IN FUNDS FOR THE YEAR
| 6.1 NET MOVEMENT IN FUNDS FOR THE YEAR | ||
|---|---|---|
| The net movement in funds for the year is stated after charging Legal & professional fees Bank charges & interest |
2025 £ 2,444 436 2,880 |
2024 £ 2,919 542 |
| 3,462 |
7.DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Church & office equipment
18% - reducing balance
8. MOVEMENT IN FUNDS
| 8. MOVEMENT IN FUNDS At 1 January Surplus/(Deficit) for the year At 31 December |
Unrestricted Restricted Total Funds Funds Funds 2025 2025 2025 £ £ £ 23,916 - 23,916 (4,216) - (4,216) 19,700 - 19,700 |
Total Funds 2024 £ 56,639 (32,723) |
|---|---|---|
| 23,916 |
Page 9
9. FIXED ASSETS
| Cost At 1 January 2025 Additions At 31 December 2025 Depreciation At 1 January 2025 Charge for the year At 31 December 2025 Net Book Value At 31 December 2025 At 31 December 2024 10. DEBTORS Rent deposit Other debtor 11.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals Others 12.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR Loan |
Furniture, Fixtures & Fittings Total £ £ 51,378 51,378 1,880 1,880 |
2024 £ - - |
|---|---|---|
| 53,258 53,258 |
||
| 48,148 48,148 920 920 |
||
| 49,068 49,068 |
||
| 4,191 4,191 |
||
| 3,231 3,231 |
||
| 2025 £ 8,190 - 8,190 2025 £ 1,050 - 1,050 2025 £ - - |
||
| - | ||
| 2024 £ 960 - |
||
| 960 | ||
| 2024 £ - |
||
| - |
13. UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
14. RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
15. RELATED PARTY TRANSACTION
Pastor Felix Makanjuola, a son of member of the board of trustees received an income of £17,000 during the year, as the programmes director of the Charity.
Page 10