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← Redeemed Christian Church Of God-The King's Parish

2025-03-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD THE KING'S PARISH ACCOUNTS 31ST MARCH 2025

GABRIEL CHRISTOPHER & CO. CHARTERED CERTIFIED ACCOUNTANTS, BUSINESS ADVISERS & CONSULTANTS SUITE 13 FOREST HOUSE 8 GAINSBOROUGH ROAD LONDON

E11 1HT

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH Report and Accounts for the period ended 31 March 2025

CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1086273

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH

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 8-11

THE REDEEMED CHRISTIAN CHURCH OF GOD -THE KING'S PARISH Charity Information

Trustees

Pastor (Mrs.) Lola Bakare (Chair) Pastor Ben Ossai Mr. Ope Akakabota

Charity Registration No:

1086273

Principal Location

Ashton Playing Fields 598 Chigwell Road Woodford Bridge Essex IG8 8AA

Bankers

Barclays Bank PLC Newham Group 737 Barking Road London E13 9PL

HSBC PLC 192 Hoe Street Walthamstow London E17 4QN

Accountants

Gabriel Christopher & Co Suite 13, Forest House 8 Gainsborough Road London E11 1HT

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD- THE KING'S PARISH TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of God(RCCG) The King's Parish (the church) for the year ended 31 March 2025. The Trustees confirm that the annual report and financial statements of the church comply with statutory requirements of the Charities Act 2012, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in April 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

The church is constituted under a Trust deed dated 24 April 2001 and has a registered charity no 1086273

METHOD OF 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.

Principal activities

The charity's principal activity during the year continued to be the advancement of the christian faith in United Kingdom and worldwide in accordance with the doctrine set out in the statement of faith of our trust deed and the relief of poverty to the general public within our community.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the trustees meet regularly to manage its affairs. The administration of the church is managed by the trustees.

Review of activities in the year

RCCG The King's Parish continue to be a participating member of Redbridge churches Unite and took part in their acitivities and programmes in the local community of Woodford, London

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.

Page 2

RELATED PARTY RELATIONSHIPS

RCCG The King''s Parish is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.

Financial Review

In the financial year, 2024/2025, The organisation planted two branches of the Church in line with the overall charity objective of advancement of Christian Faith and the vision of The Redeemed Christian Church of God. A significant number of members joined in starting Parishes in Chelmsford and Basildon.

This has impacted on the finances of the Church.

The Church Trustees Board and ministerial leadership have set up avenues of income generation and financial controls to manage the finances of the Church.

The charity's financial statement for the year ended 31 March 2025 shows a net increase in fund of £12,680 (2024: £3,591 decrease).

The value of the charity's net assets at 31 March 2025 was a surplus of £109,230 (2024:a surplus of £96,550)

RISK MANAGEMENT

The trustees have assessed the major risks to which the church is exposed to, in particular those relating to internal controls, operations and finances of the church and have control in place to mitigate exposure to major risks.

GRANT MAKING POLICIES

Under the Common Purposes Agreement (see above), RCCG-The King's Parish has agreed to make an annual contibution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation 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 1,800 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteer effort amounts to over £18,000

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.

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 and donations are also taken for specific projects.

PUBLIC BENEFIT

In considering our objects and in planning future activities, the church Trustees continue to have regard to the Charity Commission's general guidance on public benefit.

Page 3

CHURCH ACTIVITIES FOR THE YEAR

The Church has taken a giant stride in social action projects being led by Pastor Olu Elliott Oyetunji. The project include the following:

  1. FoodBank - there has been good interests shown by the people of Woodford Essex in this project and has been able to support many.

This is conducted on a monthly basis

  1. Health Hub - encourages people to take their health seriously by providing health information and health checks. Members within the church and the general public have benefited from this project.

  2. Baby Nappy Bank- this scheme supports young families that have needs in this regard

Other activities of the Church are:

FUTURE DEVELOPMENTS

The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life- changing impact in society.

Page 4

Trustees' Responsibilities in Relation to the Financial Statements

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.

Law applicable to charities in England and Wales requires the trustees to prepare financial statement for each financial year which gives a true and fair view of the state of affairs of the charity and of surplus or deficit for the period. In preparing the financial statements the trustees have:

-Selected suitable accounting policies and applied them consistently;

The Trustees have overall responsibility of ensuring that the church has an appropriate system of controls; financial or otherwise. They are responsible for keeping proper accounting records which disclose with reasonable accuracy at anytime the financial position of the church, and to enable them to ensure that the financial statements comply with the Charities Act 2012 and ( Charities, Accounts and Report) the 2008 regulation requirements. They are responsible for safeguarding the assets of the Charity and hence take reasonable steps for the detection and prevention of fraud and other irregularities.

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Signature: Opeoluwa Akakabota

Name: Opeoluwa Akakabota

Date: 25/01/2026

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH

I report on the accounts of the Trust for the period ended 31 March 2025, which are set out on pages 6 to 11.

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 required for this year (under section 144 (2) of the Charities Act 2012 (the 2012 act) and that an independent examination is needed. It is my responsibility:

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 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:

A G Oyewole FCCA

Gabriel Christopher & Co. Chartered Certified Accountants, Business Advisers & Consultants Suite 13 Forest House

8 Gainsborough Road London E11 1HT

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH Statement of Financial Activities for the period ended 31 March 2025

Notes
Incoming Resources
1
Incoming resources from generated funds:
Voluntary income:donations
2
Activities in furtherance of the charity
objects
Total Incoming Resources
Resources Expended
Charitable expenditure
Grants payable- individual
3
Grants payable - institutional
4
Costs of activities in furtherance of:
charity's objects
5
Management and governance costs:
6
Total Resources expended
Net Incoming/(Outgoing) Resources for the year
Net Movement in Funds
7
Balance at 1 April 2024
Balance at 31 March 2025		 2025
2024
Unrestricted
Restricted
Total
Total
£
£
£
£
84,355
-
84,355
62,446
-
-
-
-
84,355
-
84,355
62,446
-
-
-
-
11,410
-
11,410
10,556
57,077
-
57,077
52,297
3,188
-
3,188
3,185
71,675
-
71,675
66,037
12,680
-
12,680
(3,591)
12,680
-
12,680
(3,591)
41,550
55,000
96,550
100,141
54,230
55,000
109,230
96,550

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH Balance sheet as at 31 March 2025

Notes
FIXED ASSETS
Tangible Fixed Assets
8
CURRENT ASSETS
Debtors
9
Cash in Hand/ Bank
CURRENT LIABILITIES
10
NET CURRENT ASSETS
LONG TERM LIABILITIES
Amount falling due more than a year
11
NET ASSETS
Unrestricted
Restricted
TOTAL FUNDS
12
Amount falling due within a year		 £
1,100
106,214

Approved by the Trustees and Signed on their behalf: Signature: Opeoluwa Akakabota

Name: Opeoluwa Akakabota

Date: 25/01/2026

Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KING'S PARISH Notes to the financial statements for the period ended 31 March 2025

ACCOUNTING POLICIES

The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in March 2005 as modified for smaller charities.

1. INCOMING RESOURCES

These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from tithes, offerings and interest received during the year from investments and accounted for as unrestricted-funds.

Unrestricted Fund
Restricted
Fund
Total Fund
2. Voluntary Income: Donations
2025
2025
2025
£
£
£
Tithes & Offerings
54,869
-
54,869
Building Fund
10,427
-
10,427
Gift Aid Income
15,348
-
15,348
Interest income
3,711
-
3,711
84,355
-
84,355
3. Grants payable - individual
£
£
£
Individual welfare
-
-
-
-
-
-
4. Grants payable - institutions
£
£
£
Word Evangelical Mission (WEM)
5,500
-
5,500
RCCG Central office
590
-
590
Regional and provincial contributions
4,170
-
4,170
Festival of Life
-
-
-
Other charitable donations
1,150
-
1,150
11,410
-
11,410		 Total Fund
2023
£
43,937
2,375
14,904
1,230
62,446
£
-
-
£
4,126
210
5,093
-
1,127
10,556

Page 9

5. 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.

2025
Unrestricted
Restricted
Total
Funds
Funds
Funds
Visiting Ministers' Expenses
1,800
-
1,800
Motor Expenses
778
-
778
Foodbank expenses
-
-
-
Children/Youth expenses
560
-
560
Repairs and maintainance
250
-
250
Anniversary Expenses
2,953
-
2,953
Travelling & Hotel Expenses
538
-
538
Outreach, conventions & retreat
6,443
-
6,443
Welfare and Hospitality expenses
1,603
-
1,603
Choir Expenses
7,025
-
7,025
Pastoral Allowance
23,517
-
23,517
Rent & Rates
9,950
-
9,950
Telephone & fax & internet
468
-
468
Printing, postage, stationery & religious
1,193
-
1,193
Insurance
-
-
-
Subscritions and licences
-
-
-
57,077
-
57,077
2025
Unrestricted Fund
Restricted
Fund
Total Fund
6. GOVERNANCE COSTS
£
£
£
Legal & professional fees
1,303
-
1,303
Accountancy Fees
780
-
780
Depreciation
592
-
592
Bank charges & interest
513
-
513
3,188
-
3,188
7. NET MOVEMENT IN FUNDS FOR THE YEAR
2025
The net movement in funds for the year is stated
£
after charging
Legal & professional fees
1,303
Accountancy Fees
780
Depreciation of tangible fixed assets
592
Bank charges & interest
513
3,188		 2024
Total
Funds
850
2,697
2,686
99
-
-
-
4,151
4,605
3,910
22,983
9,953
-
230.00
40.00
93.00
52,297
2024
Total Fund
£
1,252
780
667
486
3,185
2024
£
1,252
780
592
513
3,137

Page 10

8. FIXED ASSETS

Cost
At 1 April 2024
Additions in the year
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net Book Value
At 31 March 2025
At 31 March 2024		 Instruments
Van
Furniture,
Fixtures &
Fittings
Total
£
£
£
£
15,565
2,150
7,807
25,522
250
-
-
250
-
-
-
-
15,815
2,150
7,807
25,772
12,586
2,126
7,774
22,485
581
4
6
592
13,167
2,130
7,780
23,077
2,648
20
27
2,695
2,979
24
33
3,037

8a. 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
Motor vehicle
9. DEBTORS
Member's Loan
10.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank Overdraft
Accruals		 18% reducing balance
18% reducing balance
2025
2024
£
£
1,100
1,100
1,100
1,100
2025
2024
£
£
-
-
780
780
780
780		 18% reducing balance
18% reducing balance
2025
2024
£
£
1,100
1,100
1,100
1,100
2025
2024
£
£
-
-
780
780
780
780
1,100
2024
£
-
780
780

Page 11

11.CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

12. FUNDS
At 1 April
Surplus/(Deficit) for the year
At 31 March		 2025
2024
£
£
-
-
-
-
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
£
£
£
£
41,550
55,000
96,550
100,141
12,680
-
12,680
(3,591)		 2024
£
-
-
54,230
55,000
109,230
96,550

12.1 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.

12.2 RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.

Page 12