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 2024
0
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| 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 KING OF KINGS TABERNACLE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024.
General Overseer: Trustees/Directors;
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
2
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE)
TRUSTEES REPORT FOR THE YEAR ENDED
31 JULY 2024.
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 2024 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.
3
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2024 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 grateful for the sacrificial and unwavering support of her volunteers whose diligence assists in the provision of service. Consequently, we are thankful to God for the opportunity to once again report a robust membership giving. We are pleased and appreciative of their continuous commitment and visionary support. Members’ contribution accounted for most of our gross income. The church maintains her core objectives, as well as that of 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 grow spiritually, numerically and relationally within the community as well as in the general wellbeing of her members and worshippers. The community at large continues to thrive despite undulating economic circumstances. We continued in prayers for God’s intervention, direction and comfort. The Charity continued to follow all government guidelines to safeguard the life and wellbeing of the people.
Our social media platforms namely, ZOOM, Facebook and YouTube continued to enhance our outreach capabilities. Opportunities for hybrid modes of worship via the above-mentioned social media platforms continued gaining grounds and making impact throughout this reporting year. These platforms continued to improve our membership strength as well as increased our outreach within the community locally, nationally, and internationally.
We are happy to report that during this reporting year, the Charity successfully held conferences, celebrations, small group forums, youth, and children’s meetings. We were favoured to continue reaching out to our community in creative and proactive ways thereby engaging and providing holistic succour within the community.
We recorded the third hybrid hosting of our Vacation Bible School for children aged 4 – 12 years old via ZOOM and in house participation. Our children hub within the Church were again joined by other children from within the community. We recorded an increased online participation from children in Nigeria, Ireland and the UK. We are grateful to God for the ability to reach out to even more children. The project continues to impact children positively, enhance the promotion of godly character, holistic growth, and peaceful coexistence within family units as well as in the community.
4
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2024 CONT’D
The Charity continues to reach out to all age groups of people within our community. We engaged physically with the elderly, in residential homes as well as through fellowships on our premises. We also provided gifts to residents in three residential homes within the Dagenham area. We 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 programmes 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 continue to encourage the fostering of excellent virtues for the spiritual, social, financial, and marital wellbeing of all within the community. The teenager group a.k.a (also known as) “Shining Stars” continue to increase in number. They had weekly face to face meetings during the reporting year on youth, leadership, relational, empowering skills training among others and to brainstorming sessions.
Our CAP debt centre closed temporarily during this accounting year due to maternity leave. Prior to which the centre continued to have face to face meetings with CAP clients, some of whom were as required supported with emergency needs; including helping with emergency shopping and topping up of electricity and gas meters as required. This partnership project with Christians Against Poverty (CAP) is in furtherance of one of our principal activities, of preventing and relieving poverty in our community.
Our premises remained 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.
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, however, 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 (WEM) through RCCG Central Office UK.
Review of Transactions and Financial Position
| Review of Transactions and Financial | Position | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Gross income | 261,432 | 224,058 |
| Net surplus /(Deficit) | 6,005 | (21,096) |
| The net value of the charity | 120,231 | 151,790 |
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.
Lastly, her long-term plan to acquire her premises to cater to the ever-increasing growth of members and worshippers is still in focus.
5
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
TRUSTEES REPORT FOR THE YEAR ENDED 31 JULY 2024 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:
28/05/2025 -------------------------------------------------}Sign & Date Mr. Oluwaseyi Adewale Fasogbon (Chairman)
6
INDEPENDENT EXAMINERS REPORT
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 2024.
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.
29/05/2025 ------------------------------------------ (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 KING OF KINGS TABERNACLE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JULY 2024
| INCOMING RESOURCES Gross donations RESOURCES EXPENDED Total charitable activities Governance Excess Income Prior year adjustment Excess income b/f |
NOTES 2 6 7 |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 261,432 - 253,627 - 1,800 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 261,432 - 253,627 - 1,800 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 261,432 - 253,627 - 1,800 - |
Total 2024 £ 261,432 253,627 1,800 |
2023 £ 224,058 243,354 1,800 |
|---|---|---|---|---|---|---|
| 255,427 |
- | 255,427 | 245,154 | |||
| 6,005 (37,564) 151,790 |
- 6,005 - (37,564) - 151,790 |
- 21,096 - 172,886 |
||||
| 120,231 |
- 120,231 |
151,790 |
The notes thereon form integral part of the accounts
8
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
| BALANCE SHEET AS AT 31 JULY 2024 Assets: Fixed Assets Current assets Debtors and receivables Cash & bank Creditors: Amount falling due within one year Net working capital Financed by: General Funds |
NOTES 8 9 10 |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 34,314 - 4,000 - 82,301 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 34,314 - 4,000 - 82,301 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 34,314 - 4,000 - 82,301 - |
Total 2024 £ 34,314 4,000 82,301 |
2023 £ 42,822 41,564 67,758 |
|---|---|---|---|---|---|---|
| 86,301 |
- | 86,301 | 109,322 | |||
| 384 |
- | 384 | 354 | |||
| 85,917 | 85,917 | 108,968 | ||||
| 120,231 |
- | 120,231 | 151,790 | |||
| 120,231 |
- | 120,231 | 151,790 | |||
| 120,231 |
- | 120,231 | 151,790 |
The notes thereon form integral part of the accounts
9
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
BALANCE SHEET CONT’D AS AT 31 JULY 2024
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 July 2024 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:
28/05/2025 ----------------------------------------------------} Sign & Date
Mr. Oluwaseyi Adewale Fasogbon - Chairman BOT/Director
29/05/2025 -------------------------------------------------------} Sign & Date Mr Akin Obembe – Secretary
10
REDEEMED CHRISTIAN CHURCH OF GOD KING OF KINGS TABERNACLE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024.
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
KING OF KINGS TABERNACLE (KKT)
NOTES TO THE ACCOUNTS ENDED 31 JULY 2024 CONT'D
| Notes 2 Gross donations Tithe & Offering HMRC Gift Aid repayment Building funds VBS CAP Support Other donations Other Income 3 Charitable activities Outreach & publicity Conference and seminar Welfares Entertainment & hospitality Training Music ministry Children. Teenager & Women Ministry Visiting ministers 4 Grants RCCG -Central Office WEM & COF CAP Other Charities |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 175,839 - 34,561 - 19,514 - 2,191 - 1,230 - 6,179 - 21,918 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 175,839 - 34,561 - 19,514 - 2,191 - 1,230 - 6,179 - 21,918 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 175,839 - 34,561 - 19,514 - 2,191 - 1,230 - 6,179 - 21,918 - |
Total 2024 £ 175,839 34,561 19,514 2,191 1,230 6,179 21,918 |
2023 £ 164,963 24,988 8,216 1,991 1,815 8,367 13,718 |
|---|---|---|---|---|---|
| 261,432 | - | 261,432 | 224,058 | ||
| 14,027 14,006 8,808 8,861 1,964 9,104 1,723 4,050 |
- - - - - - - - |
14,027 14,006 8,808 8,861 1,964 9,104 1,723 4,050 |
15,653 4,631 15,446 4,227 270 550 3,726 4,561 |
||
| 62,543 | - | 62,543 | 49,062 | ||
| 39,370 1,320 - |
- - - |
39,370 1,320 - |
33,776 2,329 500 |
||
| 40,690 | - | 40,690 | 36,605 |
12
REDEEMED CHRISTIAN CHURCH OF GOD
KING OF KINGS TABERNACLE (KKT)
NOTES TO THE ACCOUNTS ENDED
31 JULY 2024 CONT'D
| NOTES TO THE ACCOUNTS ENDED 31 JULY 2024 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 Accounting fees Utilities Legal fees Insurance Repairs Security and safety Depreciation |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 48,000 - 45,051 - 12,119 - 2,569 - 2,489 - 583 - 2,379 - 2,198 - 1,041 - 1,800 - 7,820 - 474 - 2,987 - 5,058 - 6,222 - 9,604 - |
Total 2024 £ 48,000 45,051 12,119 2,569 2,489 583 2,379 2,198 1,041 1,800 7,820 474 2,987 5,058 6,222 9,604 |
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 - 12,867 157,686 |
||
| 150,394 | - | 150,394 |
13
REDEEMED CHRISTIAN CHURCH OF GOD
KING OF KINGS TABERNACLE (KKT)
NOTES TO THE ACCOUNTS ENDED
| 31 JULY 2024 CONT'D Notes 6 Total charitable expenditure Direct spending Grant making activities Support costs 7 Other expenditure- Governance costs Independent examination 8 Fixed assets Costs 1 August 2023 Addition during the year Depreciation As at 1 August 2023 Charged for the year Net Book Value 31st July 2024 31st July 2023 |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 62,543 - 40,690 - 150,394 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 62,543 - 40,690 - 150,394 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 62,543 - 40,690 - 150,394 - |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 62,543 - 40,690 - 150,394 - |
Total 2024 £ 62,543 40,690 150,394 |
2023 £ 49,062 36,605 157,686 |
|
|---|---|---|---|---|---|---|---|
| 253,627 | - | 253,627 | 243,354 | ||||
| 1,800 | - | 1,800 | 1,800 | ||||
| Equipment £ 57,005 1,096 |
Motor Vehicle £ 11,645 - |
Refurbishment £ 143,334 - |
Total £ 211,984 1,096 |
||||
| 58,101 | 11,645 | 143,334 | 213,080 | ||||
| 55,664 2,437 |
11,644 - |
101,855 7,167 |
169,162 9,604 |
||||
| 58,101 | 11,644 | 109,021 | 178,766 | ||||
| 1 | 1 | 34,313 | 34,314 | ||||
| 1,342 | 1 | 41,479 | 42,822 |
14
REDEEMED CHRISTIAN CHURCH OF GOD
KING OF KINGS TABERNACLE (KKT)
NOTES TO THE ACCOUNTS ENDED
31 JULY 2024 CONT'D
| 31 JULY 2024 CONT'D | |||||
|---|---|---|---|---|---|
| Notes 9 Debtors & receivables Rent prepaid Gift aid receivable 10 Creditors: Amount falling due within one year Accrual |
Unrestricted Restricted Funds Funds 2024 2024 £ £ 4,000 - - - |
Total 2024 £ 4,000 - |
2023 £ 4,000 37,564 |
||
| 4,000 | - | 4,000 | 41,564 | ||
| 384 | - | 384 | 354 |
11 Taxation:
Redeemed Christian Church of God- KKT is a registered charity and is eligible for the exemption from taxation available to charities on their charitable activities. No
taxation charges therefore arise.
15