2023-07-31-accounts - Redeemed Christian Church Of God King Of Kings Tabernacle

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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 2023

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 2023

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 2023.

General Overseer: Pastor E A Adeboye Trustees/Directors; Mr. Oluwaseyi Adewale Fasogbon (Chairman) Mr. Temitayo Akinnuoye Mrs. Adeola Janet 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 2023.

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 2023 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 2023 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 advanced spiritually, in her numerical growth as well as in the general wellbeing of her members and worshippers. The community at large despite the setbacks resulting from the aftermath of the COVID 19 pandemic continues to experience encouraging progress. Although the repercussions of the COVID19 pandemic had drastic effects on the world at large, we continue to pray and trust God for His intervention.

To the glory of God, our social media platforms namely, ZOOM, Facebook and YouTube continue to enhance our outreach capabilities even after the lifting of the COVID 19 lockdown restrictions. 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 effectively held conferences, celebrations, small groups forums, youth, and children’s meetings. We were favoured to continue reaching out within 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 increased participation internationally via hosting our Vacation Bible School for children aged 4 – 12 years old for the second time online via ZOOM. Our children hub within the Church were joined by other children locally as well as online (children participated from Nigeria and Ireland). We are grateful to God for this epic experience. The project continues to impact children and their parents positively, and enhance the promotion of godly character, holistic growth, and peaceful coexistence within and outside the community.

The Charity continued to reach out to all age groups of people within our community. We ensured that our facilities remain accessible as permitted by government guidelines. We engaged with the elderly, in residential homes, through fellowships on our premises, visitations to elder homes, and through the provision of gifts. We remain committed to three residential homes within the Dagenham area and are working on increasing our 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.

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

TRUSTEES REPORT FOR THE YEAR ENDED 31 July 2023 CONT’D

Family forum programmes continued throughout the reporting period thereby nurturing increasing unity and support within and outside the church. The men and women groups within the church through their forums in addition encouraged the fostering of excellent virtues for the spiritual, social, financial, and marital well-being of all within the community. The teenager group a.k.a “Shining Stars” continues to increase in number; they still meet online and weekly in church for leadership, relational, and empowering skills training among others and to rub minds together.

Our CAP debt center continued to hold telephone meetings and later reintroduced face-to-face 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.

We 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 has continued mainly online. Furthermore, during this reporting period, we initially assumed the position of the RCCG UK Essex Region Sunday School headquarters. This later changed to the RCCG UK Region 9 Sunday School headquarters due to our Parish and Senior Pastor being assigned the role of the Sunday School leader of the said region. This further enhanced our involvement in training within the RCCG Mission in the UK.

All at the King of Kings Tabernacle (KKT) continued in our core motto of "Winning the Lost and Discipling the Saved.

Our partnership work with the United Christian Broadcasters (UCB) was not resumed during this period due to a shortage of volunteers but we still look forward to reviving this project in due course. Lastly, by the grace of God, we maintained our unflinching support to the World Evangelical Mission through RCCG Central Office UK.

Review of Transactions and Financial Position

Review of Transactions and Financial	Position
	2023	2022
	£	£
Gross income	224,058	251,145
Net surplus /(Deficit)	(21,096)	44,143
The net value of the charity	151,790	172,886

Future Development Plans

The charity aims to enhance 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 aftermath of the COVID-19 pandemic.

Lastly, her long-term plan to acquire her premises to cater to the ever-increasing 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 2023- 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:

25[th] April 2024 -------------------------------------------------}Sign & Date

Mr. Oluwaseyi Adewale Fasogbon (Chairman)

INDEPENDENT EXAMINERS REPORT

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

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 2023.

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.

25[th] April 2024 ------------------------------------------ (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 2023

Unrestricted Restricted Funds Funds 2023 2023 £ £ 224,058 - 243,354 - 1,800 -	Unrestricted Restricted Funds Funds 2023 2023 £ £ 224,058 - 243,354 - 1,800 -	Total 2023 £ 224,058 243,354 1,800	2022 £ 251,145 205,202 1,800
245,154	-	245,154	207,002
- 21,096 172,886	- -	- 21,096 172,886	44,143 128,743
151,790	-	151,790	172,886

The notes thereon form an integral part of the accounts

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

Unrestricted Restricted Funds Funds 2023 2023 £ £ 42,822 - 41,564 - 67,758 -	Unrestricted Restricted Funds Funds 2023 2023 £ £ 42,822 - 41,564 - 67,758 -	Total 2023 £ 42,822 41,564 67,758	2022 £ 52,840 39,281 81,446
109,322	-	109,322	120,727

354	-	354	681
108,968		108,968	120,046
151,790	-	151,790	172,886
151,790	-	151,790	172,886
151,790	-	151,790	172,886

The notes thereon form an integral part 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 2023

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 July 2023 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:

25[th] April 2024

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

Mr. Oluwaseyi Adewale Fasogbon - Chairman BOT/Director

25[th] April 2024 -------------------------------------------------------} 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 2023.

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 ACCOUNTS ENDED 31 JULY 2023 CONT'D Unrestricted Restricted Funds Funds Notes 2023 2023 2 Gross donations £ £ Tithe & offering 164,963 - HMRC Gift Aid repayment 24,988 - Building funds 8,216 - VBS 1,991 - CAP Support 1,815 - Other donations 8,367 - Other Income 13,718 - 224,058 - 3 Charitable activities Outreach & Publicity 15,653 - VBS 4,631 Welfares 15,446 - Entertainment & Hospitality 4,227 - Training 270 - Music Ministry 550 - Children. Teenager & Women Ministry 3,726 - Visiting ministers 4,561 - 49,062 - 4 Grants RCCG -Central Office WEM & COF 33,776 - CAP 2,329 - Other Charities 500 - 36,605 -	NOTES TO THE ACCOUNTS ENDED 31 JULY 2023 CONT'D Unrestricted Restricted Funds Funds Notes 2023 2023 2 Gross donations £ £ Tithe & offering 164,963 - HMRC Gift Aid repayment 24,988 - Building funds 8,216 - VBS 1,991 - CAP Support 1,815 - Other donations 8,367 - Other Income 13,718 - 224,058 - 3 Charitable activities Outreach & Publicity 15,653 - VBS 4,631 Welfares 15,446 - Entertainment & Hospitality 4,227 - Training 270 - Music Ministry 550 - Children. Teenager & Women Ministry 3,726 - Visiting ministers 4,561 - 49,062 - 4 Grants RCCG -Central Office WEM & COF 33,776 - CAP 2,329 - Other Charities 500 - 36,605 -	Total 2023 £ 164,963 24,988 8,216 1,991 1,815 8,367 13,718	2022 £ 177,621 31,281 20,760 748 1,960 6,558 12,217
224,058	-	224,058	251,145
15,653 4,631 15,446 4,227 270 550 3,726 4,561	- - - - - - -	15,653 4,631 15,446 4,227 270 550 3,726 4,561	6,336 3,580 20,905 3,083 431 6,090 1,332 7,070
49,062	-	49,062	48,826
33,776 2,329 500	- - -	33,776 2,329 500	19,758 4,219 -
36,605	-	36,605	23,978

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED

31 JULY 2023 CONT'D

31 JULY 2023 CONT'D
Notes 5 Governance Costs Rent & rate Payroll Costs Employers Pension Contribution Printing, stationery, and Postage Telephone & Communication Bank charges Cleaning expenses Administrative expenses Travel expenses Accountants fees Utilities Legal fees Insurance Repairs Depreciation	Unrestricted Restricted Funds Funds 2023 2023 £ £ 48,280 - 51,722 - 11,890 - 940 - 2,443 - 508 - 3,666 - 2,901 - 955 - 1,800 - 8,446 1,090 - 2,982 - 7,195 - 12,867 -			Total 2023 £ 48,280 51,722 11,890 940 2,443 508 3,666 2,901 955 1,800 8,446 1,090 2,982 7,195 12,867	2022 £ 48,000 30,778 9,327 115 1,816 396 4,398 5,170 774 1,800 7,231 - 2,981 4,257 15,355
		157,686	-	157,686	132,398

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED 31 JULY 2023 CONT'D

Unrestricted Restricted Funds Funds 2023 2023 £ £ 49,062 - 36,605 - 157,686 -	Unrestricted Restricted Funds Funds 2023 2023 £ £ 49,062 - 36,605 - 157,686 -	Unrestricted Restricted Funds Funds 2023 2023 £ £ 49,062 - 36,605 - 157,686 -		Total 2023 £ 49,062 36,605 157,686	2022 £ 48,826 23,978 132,398
	243,354	-		243,354	205,202
	1,800	-		1,800	1,800
Equipment £ 54,156 2,849		Motor Vehicle £ 11,645 -	Refurbishment £ 143,334 -		Total £ 209,135 2,849
57,005		11,645	143,334		211,984
49,963 5,701		11,644 -	94,688 7,167		156,295 12,867
55,664		11,644	101,855		169,162
1,342		1	41,479		42,822
4,193		1	48,646		52,840

REDEEMED CHRISTIAN CHURCH OF GOD- KKT

(REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)

NOTES TO THE ACCOUNTS ENDED

31 JULY 2023 CONT'D

Unrestricted Restricted Funds Funds 2023 2023 £ £ 4,000 - 37,564 -	Unrestricted Restricted Funds Funds 2023 2023 £ £ 4,000 - 37,564 -	Total 2023 £ 4,000 37,564	2022 £ 8,000 31,281
41,564	-	41,564	39,281
354	-	354	681