2021-07-31-accounts - Redeemed Christian Church Of God King Of Kings Tabernacle

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

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 2021

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 JULY 2021

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

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 2021.

General Overseer: Pastor E A Adeboye Trustees/Directors; Mr. Oluwaseyi Adewale Fasogbon (Chairman) Mr. Akin Obembe Mr. Tayo Akinnuoye Mrs. Adeola Ogundipe 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

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2021.

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 2021 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 based on 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.

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 July 2021 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 progressive spiritually as well as in the growth and general wellbeing of her members and worshippers. The community at large continues to experience breakthroughs despite the ongoing pandemic. The COVID19 pandemic has had drastic effects on the world at large however, we continued in prayers and trust God for His intervention. The pandemic and subsequent government guidelines to safeguard life and wellbeing of the people meant that we couldn’t operate in the usual way.

To the glory of God, our social media platforms namely, ZOOM, Facebook and You Tube continued to enhance our outreach capabilities despite the Lockdown for most of this reporting year. These platforms improved our membership strength and increased our outreach to the community locally, Nationally and internationally. We are happy to report that during the year 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 creative and active ways. This enabled us to continue engaging and providing holistic succour within the community giving the unprecedented needs created by the pandemic.

We recorded a maiden hosting of our Vacation Bible School for children aged 4 – 12 years old for the first time online via ZOOM. Our children hub within the Church were joined by other children online (children within the community, participants from Nigeria and Canada). We are grateful to God for this epic experience. The project continues to impact children positively, enhance the promotion of godly character, holistic growth, and peaceful coexistence within and outside the community. The Charity also donated to Fare Share thereby supporting the feeding of children and families during the COVID19 crisis.

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 July 2021 CONT’D

The Charity continues to reach out to all age groups of people within our community. We ensure that our facilities remain accessible as permitted by government guidelines. We engaged with the elderly, in residential homes, through fellowships on our premises, visitations and 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 within the community.

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 meet online for leadership, relational, empowering skills training among others and to rub minds together despite the pandemic.

Our CAP debt centre continued to hold telephone meetings with CAP clients. They also reached 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 and 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. Training is now mainly online.

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, by the grace of God, we have maintained our support to the World Evangelical Mission through RCCG Central Office UK.

Review of Transactions and Financial Position

	2021	2020
	£	£
Gross income	227.282	193,040
Net surplus /(Deficit)	23,982	(11,606)
Net value of the charity	128,743	104,761

Future Development Plans

The charity aims at enhancing her current achievements in effectively spreading the ethos, love and hope that the Christian faith offers. She plans to build upon current efforts of community involvement following the aftermaths of the COVID19 pandemic thereby playing her part in the amelioration of its impact locally and in the world at large.

Lastly, her long-term plan to acquire her own premises in order to cater for the everincreasing growth of members and worshippers is still in focus.

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2021- 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:

29/04/2022 -------------------------------------------------}Sign & Date Mr. Oluwaseyi Adewale Fasogbon (Chairman)

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 2021.

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:

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

29/04/2022

------------------------------------------ (signed and dated)

JOS Accountants Limited Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom

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 2021 INCOMING RESOURCES Gross donations RESOURCES EXPENDED Total charitable activities Governance costs Excess Income Prior year adjustment Excess income last year	NOTES 2 6 7	Unrestricted Restricted Funds Funds 2021 2021 2021 £ £ £ 227,282 - 227,282 187,347 14,333 201,680 1,620 - 1,620	Unrestricted Restricted Funds Funds 2021 2021 2021 £ £ £ 227,282 - 227,282 187,347 14,333 201,680 1,620 - 1,620	Unrestricted Restricted Funds Funds 2021 2021 2021 £ £ £ 227,282 - 227,282 187,347 14,333 201,680 1,620 - 1,620	2020 £ 193,040 202,831 1,815 204,646 - 11,606 - 116,367 104,761
			188,967	14,333 203,300
			38,315 - -	- 14,333 23,982 -- - 104,761
			38,315	- 14,333 128,743

The notes thereon form integral part of the accounts

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

BALANCE SHEET AS AT

31 JULY 2021

Unrestricted Restricted Funds Funds 2021 2021 £ £ 64,108 - - -	Unrestricted Restricted Funds Funds 2021 2021 £ £ 64,108 - - -	2021 2020 £ £ 64,108 77,316 - -
	64,108 -	64,108 77,316
	8,000 - 63,659 -	8,000 4,997 63,659 28,402
	71,659 -	71,659 33,399
	7,024 -	7,024 5,954
	64,635 -	64,635 27,445
128,743 -		128,743 104,761
128,743 -		128,743 104,761
128,743 -		128,743 104,761
of the accounts		-

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

BALANCE SHEET CONT’D AS AT 31 JULY 2021

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 July 2021 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:

29/04/2022 ----------------------------------------------------} Sign & Date

Mr. Oluwaseyi Adewale Fasogbon - Chairman BOT/Director

29/04/2022 -------------------------------------------------------} Sign & Date Mrs. Adeola Ogundipe – Trustee/Director

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 2021.

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.

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE YEAR ENDED 31 JULY 2021 CONT’D

Unrestricted Restricted Funds Funds 2021 2021 2021 £ £ £ 166,266 - 166,266 32,517 - 32,517 5,420 - 5,420 160 - 160 1,432 - 1,432 10,293 - 10,293 11,194 - 11,194	Unrestricted Restricted Funds Funds 2021 2021 2021 £ £ £ 166,266 - 166,266 32,517 - 32,517 5,420 - 5,420 160 - 160 1,432 - 1,432 10,293 - 10,293 11,194 - 11,194	2020 £ 140,491 19,170 1,050 105 1,745 13,819 16,660
227,282	- 227,282	193,040
5,749 1,848 17,938 4,707 103 916 385 2,650	- 5,749 1,848 - 17,938 - 4,707 - 103 - 916 - 385 - 2,650	1,094 1,120 7,148 8,439 1,511 5,432 2,782 950
34,295	- 34,295	28,476
33,503 2,750 -	- 33,503 - 2,750 - -	24,289 3,625 450

36,253

28,364

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE YEAR ENDED

31 JULY 2021 CONT’D

Unrestricte d Restricted Funds Funds 2021 2021 £ £ 43,000 - 41,908 - 3,465 - 1,763 - 2,302 - 572 - 4,619 - 464 - 477 - 1,980 - 6,132 2,848 - 6,894 - 375 14,333	Unrestricte d Restricted Funds Funds 2021 2021 £ £ 43,000 - 41,908 - 3,465 - 1,763 - 2,302 - 572 - 4,619 - 464 - 477 - 1,980 - 6,132 2,848 - 6,894 - 375 14,333	2020 £ 54,000 41,076 7,219 1,924 1,761 824 3,283 1,429 1,586 1,485 4,279 2,359 8,075 16,691
116,799	14,333 131,132	145,991
34,295 36,253 116,799	- 34,295 - 36,253 14,333 131,132	28,476 28,364 145,991
187,347	14,333 201,680	202,831

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE YEAR ENDED

31 JULY 2021 CONT’D

Unrestricted Restricted Funds Funds 2021 2021 £ £ 1,620 -	Unrestricted Restricted Funds Funds 2021 2021 £ £ 1,620 -		2020 £ 1,815
Equipment £ 48,569 1,500	Motor Vehicle £ 11,645 -	Refurbishment £ 143,334 -	Total £ 203,548 1,500
50,069	11,645	143,334	205,048
48,566 375	11,644 -	66,022 14,333	126,232 14,708
48,941	11,644	80,355	140,940
1,128	1	62,979	64,108
3	1	77,312	77,316

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE YEAR ENDED

31 JULY 2021 CONT’D

Unrestricted Restricted Funds Funds 2021 2021 £ £ 8,000 - - -	Unrestricted Restricted Funds Funds 2021 2021 £ £ 8,000 - - -	Total 2021 £ 8,000 -	2020 £ 4,997 -
8,000	-	8,000	4,997
6,670 354	- -	6,670 354	4,872 1,082
7,024	-	7,024	5,954

11 Taxation:

Redeemed Christian Church of God- KKT is a registered charity and is eligible for the exemptions from taxation

available to charities on their charitable activities. No charge to taxation therefore arises.