## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **SALVATION THEATRE**
TRUSTEES REPORT & FINANCIAL STATEMENTS
FOR
THE YEAR ENDED 31 DECEMBER 2024
_**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
|CONTENTS|Pages|
|---|---|
|Administrative|3|
|Trustees report|4-5|
|Independent Examiners’ report|6|
|Statement of financial activities|7|
|Statement of financial position|8|
|Detailed income and expenditure|9-10|
|Notes to the Financial Statements|11-13|
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
## Administrative information
## Trustees
Mr Gbenga Amoshe
Mrs Caroline Adebayo
Dr Gabriel Oludare
Mr Simeon Oluwasanmi
Charity Registered Number:
1090070
## Registered Office
58-60 Westminster Road Birmingham West Midland Birmingham B20 3LJ
## Independent Examiner
Adenike Phillips MAAT, F _CCA_ P.O.S Accounting Ltd 170 Campus Drive Northampton NN2 7FW
Banker: HSBC UK
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
Trustees Report for the year ended 31 December 2024.
Trustees present their financial statements for the year ended 31 December 2024.
The Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD - SALVATION THEATRE presents their report and financial statements for the year ended 31 DECEMBER 2024. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) "Accounting and reporting by Charities “Issued on October 2000 in preparing the annual report financial statement of the charity.
## Charity Details
A list of names and addresses of the charity’s principal officers and bankers is set out on page 3
## Objectives
The charity’s principal activity is the proclamation of the gospel of Jesus Christ
1. To advance the Christian doctrine (in accordance with the statement of our belief) in such part of the United Kingdom or the world as the trustees from time to time think fit,
2. To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, good or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit; and
3. To advance education in such ways and in such parts of the United Kingdom or the world as the trustee from time to time may think fit;
4. The trustee must use the income and may use the capital of the church in promoting the objects.
## Organization
THE REDEEMED CHRISTIAN CHURCH OF GOD - SALVATION THEATRE is governed by a board of trustees who are elected to serve the church and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure the gaps are filled.
## Risk and Internal Control
Then accordingly Trustees review the main operational risks and actions to manage or mitigate it.
## Review of transactions and financial position
## Income Resources
The total income of the organization for the year has been derived from its principal activities wholly undertaken in the United Kingdom.
During the year, donation income resources, gift and grant received totaled £329,212. The
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
bulk of the donations and gifts received have been made available without restriction as to its usage
The bulk of the balance on the charity’s fund is unrestricted. These will be used to fund the charity's objectives during the new financial year. The Trustees confirmed that the charity's are available and adequate to enable it to fulfil its obligations.
## Reserve Policy
Freely available reserves are pools of unapplied resources available to meet future demands on the charity's resources. This is general purpose money that can be spent on many of the purposes of the charity. Free reserves of the charity are represented by its unrestricted and restricted funds less the net book value of its assets. As at 31 DECEMBER 2024, these amounted to £471,170 and £814 respectively.
## Statement to Trustees' responsibilities
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 charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are require to a) Select suitable accounting policies and apply them constantly; b) make judgment and estimates that are responsible and prudent; c) state whether applicable accounting standards and statements of recommended practice have been Followed, subject to many departures disclosed and explained in the financial statement; d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue on that basis.
The Trustees are responsible for ensuring that proper books are maintained, for safe guarding assets of the charity, and taking reasonable steps for the prevention and detection of fraud and other irregularities. The board has reviewed the effectiveness of the system of internal control and there are no material weaknesses that would result in losses, contigencies and uncertainties that require a separate disclosure in these accounts.
## Independent Examiner's Report.
We report on the accounts for the year ended 31 DECEMBER 2024 which are set out on pages 7-12
## Respective responsibilities of trustees and examiner
Charity's trustees are responsible for the preparation of the account. It is our responsibility
- Examine the account (under section 43{3)(a) of the 1993 Act}
- . To follow the procedures laid down in the general directions given by the commissioners
- {under section 43(7)[b) of the 1993 Act)
## Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the charity. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
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;
- 1.Which gives me reasonable cause to believe that in any material respect the requirements;
- To keep accounting records in accordance with section 41 of the 1993 Act and
- To prepare accounts which accord with the accounting records and comply with the
- accounting requirements of the 1993 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
Adenike Phillips _ACCA_ P.O.S Accounting Ltd 170 Campus Drive Northampton NN2 7FW
_**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
||Unrestricted Funds|Restricted|Restricted|Unrestricted|Unrestricted|
Restricted|
|---|---|---|---|---|---|---|
|Income Resources Notes|2024|Funds|2024||Funds 2023|Funds 2023|
||**£**||||**£**||
|Tithes,offering and Thanksgiving|264,738||-||265,843|-|
|Gift Aid|34,634||-||41,451|-|
|Other (Grant)|-||6,097||-|9,800|
|Other Voluntary income(Building)|-||-||-|10,000|
|Other vountary income|8,269||13,723||-|33,238|
|Bank interest received|1,752||-||799||
|Total Income Resources|309,392||19,820||308,093|53,038|
|Resources Expended|||||||
|Missionary and charitable givings|59,156||500||53,686|-|
|Direct Parish Expenditure|235,400||37,860||260,704|32,377|
|Management & Administration of Chari|2,846||1,222||3,105|85|
|Total Resources Expended|297,401||39,582||317,495|32,462|
|Net Income and outgoing resoucres|11,991|-|19,762
|-|9,402
|20,576|
|Net Movement in Fund|||||||
|Adjustment Fund Balance B/FWD 5|459,180||20,576||468,582|-|
|Fund Balances C/FWD 5|471,170||814||459,180|20,576|
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
## STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2024
|Notes
Fixed assest
Tangible assets
3
Equipment
Total fixed asset
Current assets
Debtors
Cash at bank and in hand
9
Creditors: Amount falling due within on
4
Net current assests
Total assets less current liabilities
Creditors: Amounts falling due after mo
5
Total net assest or liabilities
Funds of the Charity
Restricted income funds
7
Unrestricted income funds
6
Revaluation Reservce
Total funds|Total this year
Total last year
£
£
385,042
409,826
385,042
409,826
5,500
109,967
96,221
109,967
101,721
11,571
9,279
98,396
92,442
483,438
502,268
11,454
22,511
471,984
479,757
814
20,576
471,170
459,181
-
-
471,984
479,757|
|---|---|
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
DETAILED INCOME AND EXPENDITURE FOR THE YEAR ENDED 31ST DECEMBER 2024
|Income and Resources
Tithes,offering and Thanksgiving
Gift Aid
Other (Grant)
Other Voluntary income(Building)
Other vountary income
Bank interest received
**Total Income Resources**
**OUTGOINGS**
**Missionary and charitable givings**
RCCG central office
RCCG Sunday School UK
Other mission & charitables
RCCG parishes
WEM
Region/province/National
**Direct Parish Expenditure**
**Ministry:**
Honorarium
Wages & salary & taxes
Resident Pastor (Thanksgiving and
Firstfruit and credit card)
Church - running cost:
Mortgae interest & other loan
telephone and multimedia
Repairs & maintenance
Printing & Stationeries
Welfare and Soup kitchen activities
Book,communion etc
Utilities
Cleaning
Credit card
Conferences & training
Accessories|Unrestricted
Restricted
Total Fund
£
£
264,738
-
264,738
34,634
-
34,634
-
6,097
6,097
-
-
8,269
13,723
21,992
1,752
1,752
309,392
19,820
329,212
1,040
-
1,040
300
-
300
500
500.00
1,000
4,290
-
4,290
32,526
-
32,526
20,500
-
20,500
-
-
59,156
500
59,656
14,500
-
14,500
108,908
-
108,908
18,039
240
18,279
2,279
-
2,279
4,539
-
4,539
14,952
-
14,952
2,442
-
2,442
-
35,449
35,449
247
-
-
247
-
13,512
-
13,512
-
813
813
-
-
-
1,200
626
1,826
509
-
509|
|---|---|
Insurance 1,825 - 1,825
_**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
|Admin|1,543|-|1,543|
|---|---|---|---|
|Premises project (Consulting)|-||-|
|Entertainment|7,725|-|7,725|
|Petty cash|1,800|-|1,800|
|Choir, Youth & Children|360|-|360|
|Travelling expenses|3,049|453|3,502|
|Musical production|2,442|-|2,442|
|Equipmnent Expensed|-|280|280|
|Depreciation|36,022|-|36,022|
||235,400|37,860|273,260|
|Management & Administration of Charity
Professional and Consultancy fees
Bank charges
HP interest|2,730
116
-|1,162
60
-|3,892
176
-|
||2,846|1,222|4,068|
_**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
## Notes To The Accounts
For the year ended 31 DECEMBER 2024
## 1. Accounting Policies
## Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the financial Reporting Standard Entities (effective April 2008),
## Incoming Resources
Incomes are mainly from grants and sundry incomes received and included in the financial statement when received. This incoming resource represents money incomes for the reporting period.
## Resources Expended
All expenditures are accounted for on accrual basis and have been classified under headings that aggregate all costs related to the category. The charity expenditures represent the amount expended by the church in the current reporting period ended 31-Dec-24
## Taxation
As a charity, the charitable funds are exempt from corporation tax but not from VAT. Recoverable VAT is in accordance with standard accounting practice, included in the cost of those items to which it relates.
## Depreciation
Depreciation has been provided at the following rates on a reducing balance method.
|Equipment||25%|
|---|---|---|
|Church Offices , Fixtures and
Fitting||25%|
|Furniture’s & computer||25%|
|Motor Vehicle||25%|
|2.Operating Profit|2024|2023|
|This is stated after charging:|||
|Depreciation of owned fixed
assets|**-£7,772**|**£11,175**|
## _**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
## Notes To The Accounts
For the year ended 31 DECEMBER 2024
## 3. Tangible Fixed Assets
|3. Tangible Fixed Assets||||
|---|---|---|---|
||Land and Buildings|Equipment|Total|
|Cost/Net Book Value|£|£|£|
|As at 1st January 2024|735,660|8,563|744,223|
|Addition (improvement)during||11,238|11,238|
|the year||||
|Disposal/ written off|||-|
|At 31st December 2024|735,660|19,801|755,461|
||||-|
|Depreciation|||-|
|As at 1st January 2024|331,727|2,670|334,397|
|Depreciation chage for the year|31,072|4,950|36,022|
|Disposal/written off|-|-|-|
|At 31st December 2024|362,799|7,620|370,419|
|Net Book Value At 31st||||
|December 2024|**372,861**|**12,181**|**385,042**|
||2024|2023||
||£|£||
|4. Creditors amount failling due||||
|within one year||||
|Other creditors-Accountancy fees|-|-||
|Bank loan|11,571|9,279||
||**11,571**|**9,279**||
||2024|2023||
||£|£||
|5. Creditors amount failling due||||
|more than one year||||
|Bank loan|11,454|22,511||
||**11,454**|**22,511**||
_**THE REDEEMED CHRISTIAN CHURCH OF GOD-SALVATION THEATRE**_
## Notes To The Accounts
For the year ended 31 DECEMBER 2024
||2024||2023|
|---|---|---|---|
||£||£|
|6. Unrestricted funds brought
forward|459,181||468,582|
|Adjustment unrestricted funds|11,991|-|9,402
-|
|for the period||||
|As at 31st December|**471,171**||**459,181**|
|7. Restricted funds brought
forward|20,576|||
|Adjustment restricted funds for|19,762
-||20,576|
|the period||||
|As at 31st December|**814**||**20,576**|
|Total balance of restricted and||||
|unresticted funds|**471,984**||**479,757**|
||2024||2023|
|8. Staff cost|£||£|
|Minsiters renumeration & others||||
|paid in the year|**108,908**||**74,000**|
|9. Cash & Bank Balances|2024||2023|
||£||£|
|Cash in hand & at bank|**109,967**||**96,221**|
_Signed by one or two trustees on behalf of all the trustees_
Print name: …………………………………………………………………… Gbenga Amoshe poergeameste 11th August 2025 Date of approval: ……………………………….