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2020-07-31-accounts

REDEEMED CHRISTIAN CHURCH OF GOD- KKT (REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

Charity registered number: 1091954 Company Registration Number: 10068838

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

0

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY2020.
CONTENTS
Page
Trustee's Report 3-6
Independent Examiner's Report 7
Balance Sheet 8-9
Statement of Financial Activities 10
Notes to the Accounts 11 – 15

1

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2020.

General Overseer: Pastor E A Adeboye
Trustees/Directors; Mr. Oluwaseyi Adewale Fasogbon (Chairman)
Mr. Akin Obembe
Mr. Tayo Akinnuoye
Mrs. Esther Enwezor
Mr. Adebowale Odebode
Secretary Mr. Akin Obembe
Pastor in Charge: Pastor Stephen Rotimi
Charity registered number: 1091954
Company registered number: 10068838
Worship Center/Principal office: 2-4 Whalebone Lane South,
Dagenham,
Essex,
RM8 1BJ
Correspondence address: c/o Pastor Stephen Rotimi
23 Halbutt Road
Dagenham
Essex
RM9 5AS
Bankers: Barclays Bank PLC
NatWest Bank PLC
Independent Examiner: JOS Accountants Limited
Unit 3, 51-57 High Street South
East Ham, London
E6 6EJ
United Kingdom

2

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2020.

The Trustees of Redeemed Christian Church of God- KKT (Redeemed Christian Church of God King of Kings Tabernacle) present their report and Financial Statements for the year ended 31st July 2020 which have been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in October 2000 and Revised SORP 2005.

Structure, Governance and Management

a. CONSTITUTION

The church is constituted under a Trust deed and is a registered charity with charity registration number 1091954.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

New trustees are elected on the basis of the contribution that they will make to the governance of the organization and the skills that they will bring into the life of the charity. They are provided with copies of the Charity Commission's guidance to trustees and introduced to the activities of the charity by the existing board.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

Existing trustees are provided with training as and when required.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The board of Trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. The charity has three paid employees and 68 other voluntary workers. The Trustees are responsible for making all decisions regarding allocation of fund and activities.

e. RELATED PARTY RELATIONSHIPS

King of Kings Tabernacle is a parish of The Redeemed Christian Church of God - a network comprised of parishes all over the world. There is an agreement of common purposes entered into by King of Kings Tabernacle with The Redeemed Christian Church of God which documents this relationship.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The Redeemed Christian Church of God - KKT is a parish of The Redeemed Christian Church of God. Our aim is to excel in every aspect of our Mission, whilst at the same time continually maintaining transparency and proper accountability

The Charity's objects are:

1 The advancement of the Christian religion worldwide; and

2 The relief of poverty.

Towards the achievement of these objects, the Charity operates a Christian worship center at 2-4 Whalebone Lane South, Dagenham, Essex, RM8 1BJ organizing various events to promote the Christian faith and to reach out, in love, to the community at large. As we have done over the years, during this reporting period, to the glory of God, the Charity had conferences, celebrations, small groups, youth and children’s seminars and meetings along with some outreach projects.

3

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 July 2020 CONT’D

b. GRANT MAKING POLICIES

Grants are made to other charitable bodies. The church supports missionary organizations such as the Festival of Life, World Evangelical Mission (WEM), Christians Against Poverty (CAP), and other missions / projects within and outside the UK.

c. VOLUNTEERS

The charity is most appreciative of the unflinching and sacrificially support of its volunteers who diligently assist in the provision of service. Consequently, with gratitude to God we once again report a robust membership giving despite the drawbacks created by the COVID 19 pandemic from March 2020 and the subsequent National lockdown. We are pleased and thankful for their continuous commitment and visionary support. Members’ contribution accounted for most of our gross income. The church maintains her core objectives, as well as the overall focus of the Redeemed Christian Church of God Mission as a whole.

d. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposures to the major risks.

Achievements and performance

The Trustees are pleased to report that the Church continued to be successful spiritually and in the general wellbeing of its members, worshippers and the community at large during this reporting period. The Church continue to improve in membership strength and is increasingly reaching out to the community and beyond. We are happy to report that our outreach as a Church for the first time experienced an online and a growing dimension as we were forced to continue reaching out to the community in more creative ways via social media due to the lockdown.

During the year to the glory of God, the Charity still successfully held conferences, celebrations, small groups forums, youth, and children’s meetings. We were favoured to continue reaching out to our community in dynamic and new ways. This enabled us to engage and provide holistic succour within the community thereby remaining relevant giving the unique needs created by the pandemic. We were also able to encourage all within our circle of influence through our social media platforms: YouTube, Facebook and Zoom. Since 2009, we had been hosting a Vacation Bible School for children aged 4 – 12 years old living within and outside our community. The project created an avenue for children to be positively impacted. It enhances the promotion of godly character, holistic growth, and peaceful coexistence within the community. In 2020 due to the pandemic, we could not hold the school to our disappointment and that of the children, the volunteers, and the parents. We pray that the Lord will grant National healing and victory over the pandemic so we can continue with this laudable project soon.

4

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 July 2020 CONT’D

The Charity continues to reach out to all age groups of people within our community and ensure that our facilities remain accessible as permitted by the government.

We engaged with the elderly, in residential homes, through fellowships on our premises, visitations as well as through the provision of gifts. We remain committed to three residential homes within the Dagenham area and are working on increased levels of engagement. The Charity continues to care for the homeless as required as well as provide feeding support to the needy. The Family Forum programs this period were in collaboration with other churches both within and outside our community. The men and women groups within the Church through their forums again encouraged the fostering of excellent virtues for the spiritual, social, financial, and marital wellbeing of all within the community. The teenager group a.k.a “Shining Stars” continue to increase in number; they still met on Saturdays for leadership, relational, empowering skills training among others as well as to rub minds together before the onset of the pandemic. Thereafter, they have remained engaged and encouraged via our ZOOM meetings tailored to their needs.

Our CAP debt centre operated successfully until the lockdown. After which it continued to hold telephone meetings with CAP clients and reaching out to those with emergency needs; including helping with emergency shopping and topping up of electricity and gas meters as required. This partnership project with Christian Against Poverty (CAP) is in furtherance of one of our principal activities, of preventing or relieving poverty in our community. Our premises continue as a CRM School of Discipleship Centre (a training bureau of the Redeemed Christian Church of God) an avenue for empowering Disciples for the Kingdom of God. All at the King of Kings Tabernacle (KKT) continued in the motto of "Winning the Lost and Discipling the Saved. Our partnership work with the United Christian Broadcasters (UCB) did not operate during this period due to shortage of volunteers but we still look forward to reviving this project in due course. Lastly, our support to the World Evangelical Mission through RCCG Central Office UK remained sustained to the glory of God.

Review of Transactions and Financial Position

During the year, the gross income of £193,040 (2019 was £207,116) was received. The net movement in funds for the year, as shown in the statement of financial activities was a deficit of £11,606 (2019 was £18,119 negative). The value of the RCCG King of Kings Tabernacle net assets at 31st July 2019 is £104,761 (31[st] July 2019 was £116,367).

Future Development Plans

The charity aims at building on its current achievement in effectively spreading the ethos, love and hope that Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all.

Lastly, we are unrelenting in our long-term plan to acquire our own premises in order to cater for the ever-increasing growth of our members and worshippers.

5

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2020- CONT’D

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the Church and of the surplus or deficit of the Church for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• make judgments and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Church will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

The Trustees appointed JOS Accountants Limited, a firm of Accounting & Management Consultants, as the Charity’s independent examiner. A resolution for re-appointment as independent examiner will be proposed during the Trustees meeting for the year.

This report was approved by the trustees and signed on its behalf by:

29/04/2021

-------------------------------------------------}Sign & Date

Mr. Oluwaseyi Adewale Fasogbon (Chairman)

6

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

INDEPENDENT EXAMINERS REPORT

We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes and the accounting policies of The Redeemed Christian Church of God- KKT (Redeemed Christian Church of God King of Kings Tabernacle) for the year ended 31st July 2020.

Respective responsibilities of trustees and independent examiner

As described earlier, the trustees are responsible for the preparation of the financial statements. It is my responsibility to carry out an examination of those financial statements and to issue a report based on that examination.

Scope of examination

We conducted my examination in accordance with directions given by the Charity Commissioners under section 43(7)(b) of the Charities Act 1993. An examination is limited to enquiries of the charity's personnel and analytical and review procedures applied to financial data and this provides less assurance than an audit. We have not performed an audit, and accordingly, we do not express an audit opinion.

Independent examiner's statement

In connection with our examination, no matter has come to our 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 Act; and

• To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or

  1. To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

29/04/2021 ------------------------------------------ (signed and dated) JOS Accountants Limited Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom

7

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED

31 JULY 2020

INCOME & ENDOWNMENT
Donations and legacies
EXPENDITURE ON:
Total charitable activities
Governance costs
Excess Income
Funds brought forward		 NOTES
2
6
7		 Current
year
Current
year
Current
year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
193,040
-
193,040
207,116
188,498
14,333
202,831
223,940
1,815
-
1,815
1,375
190,313
14,333
204,646
225,315
2,728
(14,333)
(11,606)
(18,199)
116,367
-
116,367
134,566
119,094
-
14,333
104,761
116,367

The notes thereon form integral part of the accounts

8

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

BALANCE SHEET

AS AT 31 JULY 2020
Assets:
NOTES
Fixed Assets
8
Current assets
Debtors and receivables
Cash & bank
Creditors: Amount falling due
within one year
9
Net working capital
Financed by:
General Funds		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
77,316
-
77,316
91,648
4,997
-
4,997
6,430
28,402
-
28,402
19,131
33,399
-
33,399
25,561
5,954
-
5,954
842
27,445
-
27,445
24,719
104,761
-
104,761
**116,367 **
119,094
-
104,761
**116,367 **

The notes thereon form integral part of the accounts

9

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

BALANCE SHEET CONT’D AS AT 31 JULY 2020

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

29/04/2021 ----------------------------------------------------} Sign & Date

Mr. Oluwaseyi Adewale Fasogbon - Chairman BOT/Director

29/04/2021 -------------------------------------------------------} Sign & Date Mrs. Esther Enwezor – Trustee/Director

10

REDEEMED CHRISTIAN CHURCH OF GOD- KKT (REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

31 JULY 2020.

1 Accounting Policies:

The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (“SORP 2000 and SORP 2005”) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below.

a) Basis of Preparation of Financial Statements

The financial statements are prepared under the historic cost convention and include the results of the Charity's operations, which are described in the Trustees Report, all of which are continuing.

b) Incoming Resources

All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.

c) Restricted funds

The restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs.

d) Unrestricted Funds

Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds.

e) Resources Expended

Direct Charitable Expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives.

Governance expenditure includes all costs not directly related to the Charitable activities and cannot be allocated to direct charitable expenditure.

f) Donated Services and Gifts in Kind

The value of donated services and gifts in kind provided to the charity is recognised in the statement of financial activities and in the Balance Sheet at their value to the charity, as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.

11

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED

31 JULY 2020 CONT'D

Detailed analysis of income and expenditure for the year ended 31 July 2020 as required by the SORP 2015

NOTES
2
Donations, grants, and
legacies
Tithe & Offering
HMRC Gift Aid repayment
Building funds
VBS
CAP Support
Other donations
Other Income		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
140,491
-
140,491
149,166
19,170
-
19,170
17,967
1,050
-
1,050
298
105
-
105
2,549
1,745
-
1,745
-
13,819
-
13,819
15,299
16,660
-
16,660
21,838
193,040
-
193,040
207,116
spending
Outreach & publicity
VBS
Welfares
Entertainment & hospitality
Training
Music ministry
Children Ministry
Visiting ministers		 1,094
-
1,094
11,329
1,120
-
1,120
2,592
7,148
-
7,148
10,105
8,439
-
8,439
10,440
1,511
-
1,511
3,953
5,432
-
5,432
11,326
2,782
-
2,782
1,315
950
-
950
3,232
28,475
-
28,475
54,293

12

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED

31 JULY 2020 CONT'D

NOTES
4
5		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
Charitable activities-Grant
2020
2020
2020
2019
funding activities
£
£
£
£
RCCG -Central Office WEM & COF
24,289
-
24,289
24,259
CAP
3,625
-
3,625
3,000
Other Charities
450
-
450
2,233
28,365
-
28,365
29,492
Support costs for charitable activities
Premises & administrative costs
Rent & rate
54,000
-
54,000
53,500
Payroll Costs
41,076
-
41,076
608
Employers Pension Contribution
7,219
-
7,219
43,927
Printing, stationery, and Postage
1,924
-
1,924
549
Telephone & Communication
1,761
-
1,761
1,864
Bank charges
824
-
824
876
Cleaning expenses
3,283
-
3,283
-
Administrative expenses
1,429
-
1,429
3,803
Travel expenses
1,586
-
1,586
2,114
Accounting fees
1,485
-
1,485
1,125
Utilities
4,279
-
4,279
6,065
Insurance
2,359
-
2,359
4,657
Repairs
8,075
-
8,075
6,556
Depreciation
2,358
14,333
16,691
14,511
131,658
14,333
145,991
140,156		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
24,289
-
24,289
24,259
3,625
-
3,625
3,000
450
-
450
2,233
28,365
-
28,365
29,492
131,658
14,333
145,991
140,156

13

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED

31 JULY 2020 CONT'D

NOTES
6
Total charitable expenditure
Direct spending
Grant making activities
Support costs
7
Other expenditure- governance
Independent examination
8
Fixed assets
Costs 1 August 2019
Addition during the year
Depreciation
As at 1 August 2019
Charged for the year
Net Book Value
31st July 2020
31st July 2019		 Current year
Unrestricted
Funds
2020
£
28,475
28,365
131,658		 Current year
Unrestricted
Funds
2020
£
28,475
28,365
131,658		 Current year
Restricted
Funds
2020
£
-
-
14,333		 Current year
Prior year
Total
Total
Funds
Funds
2020
2019
£
£
28,475
54,293
28,365
29,492
145,991
140,156
188,498 14,333 202,831
223,940
costs
1,815		 - 1,815
1,375
Equipment
£
46,210
2,359		 Motor Vehicle
£
11,645
-		 Refurbishment
Total
£
£
143,334
201,189
-
2,359
48,569 11,645 143,334
203,548
46,208
2,358		 11,644
-		 51,689
109,541
14,333
16,691
48,566 11,644 66,022
126,232
3
2		 1
1		 77,312
77,316
91,645
91,648

14

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED

31 JULY 2020 CONT'D

NOTES
9
Debtors & receivables
Rent prepayment
Members balances
10
Creditors: Amount falling due
within one year
WEM-COF
Accrual		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
4,997
-
4,997
4,980
-
-
-
1,450
4,997
-
4,997
6,430
4,872
-
4,872
-
1,082
-
1,082
842
5,954
-
5,954
842

15