## **THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF DAVID**
Charity reg. no.1091990
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
## **CONTENTS**
|Admin details|1|
|---|---|
|Trustees' report|2 - 4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8 - 11|
|Detailed statement|12 - 13|
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021**
General Overseer **Pastor E. A. Adeboye** Parish Pastor Pastor Segun Kingsley Trustees ODAUDU Samuel Adah AKINDUTIRE Damola ALLI Adewale Toareed ALABI Olufemi Charity registration Number 1091990 Principal Office 46 Lowfield Street Dartford DA1 1HJ Independent Examiner Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire ALI0 9FF Bankers Barclays Bank Plc
Page 1
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID**
## **TRUSTEES' REPORT FOR YEAR ENDED 31 DECEMBER 2021**
The trustees present their report and accounts for the year ended 31 December 2021
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deeds, the Charities Act 2011 and the Statement of Recommended Practice, Accounting and Reporting by Charities, issued in March 2005.
## **Structure, governance and management**
The charity was established by a charitable trust deed dated 30th August 2002 and it is a registered charity.
## **The trustees who served during the year were:**
ODAUDU Samuel Adah AKINDUTIRE Damola ALLI Adewale Toareed ALABI Olufemi BANKOLE Tokunbo
Trustees are familliar with the workings of the church having been drawn from long-standing church members that have the skill-set to offer an empathy with the charity's core values.
New trustees are invited and encouraged to attend training courses led by the chair and also read guidelines and publications issued by the Charity Commission eg. 'the Essential Trustee,' copies of which are given to new trustees.
The church is organised so that the trustees meet regularly to manage her affairs. There is a full time office administrator who manages the day to day administration of the church.
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 our exposures to the major risks.
## **Related party relationships**
RCCG - City of David is a member of the Redeemed Church of God (RCCG) which has parishes all over the world. The relationship is governed by an 'Agreement for common purposes' between the parishes and RCCG.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Objectives and activities**
The charity's objectives are - (a) The advancement of the Christian faith worldwide, and
(b) Relief of poverty.
## **Volunteers**
The trustees are grateful for the members who rendered various services to the Church voluntarily during the year.
Page 2
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID**
## **TRUSTEES' REPORT FOR YEAR ENDED 31 DECEMBER 2021**
## **Achievements and performance**
The trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in the following ways:
(i) The pandemic was a challenging period for the church
(ii) The church services was presented mainly online via zoom, and other social media handles. It engaged with the community through the food bank and city pantry initiatives by providing food parcels to the community throughout the pandemic and continues to do so. etc
(iii) The church is growing its online membership and physical membership as well.
## **Financial review**
The total incoming resources for the year amounted to £433,447 (2020 - £433,267) and the total resources expended amounted to £310,842 (2020- £225,537) leaving a net surplus for the year of £122,605 (2020 surplus £207,731).
The balance of fund as at 31 December 2021 was £1,211,614 (2020 £1,141,435 ).
## **Reserves Policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year
## **Future Developments**
The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in society.
Page 3
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID**
## **TRUSTEES' REPORT FOR YEAR ENDED 31 DECEMBER 2021**
## STATEMENT OF TRUSTEE'S RESPONSIBILITIES
The trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and United Kingdom Generally Accepted Accounting Practice.
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 for each year which will give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
, • Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP;
, • Make judgement and estimates that are reasonable and prudent;
, • Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charity Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by the Trustees on 19th Oct 2022 and signed on their behalf by:
Trustee Trustee
Pastor Femi Alabi Mr. Adewale Alli
Page 4
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID**
## **INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 DECEMBER 2021**
## **TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID**
I report on the accounts for the year ended 31 December 2021 set out on pages 5 to 9.
## **RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
(i) examine the accounts under section 145 of the 2011 Act; (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
(iii) to state whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER'S REPORT**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statements below.
## **INDEPENDENT EXAMINER'S STATEMENT**
In connection with my examination, no matter has come to my attention:
(a) which gives me reasonable cause to believe that in any material respect the requirements:
(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
have not been met.
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
Date: 19th Oct 2022
Page 5
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2021**
|**Notes**
**INCOMING RESOURCES FROM GENERATED FUNDS**
Voluntary Income
2
**Total incoming resources**
**RESOURCES EXPENDED**
Charitable activities
Governance costs
**Total resources expended**
4
**Net (Outgoing)/Income resources for year**
**Fund balances at 1 January 2020**
**Prior Year Adjustment**
**Fund balances at 31 December 2020**|**2021**
**2020**
**Total**
**Total**
**Funds**
**Funds**
**£**
**£**
433,447
433,267|
|---|---|
||**433,447**
**433,267**|
||280,121
213,819
30,721
11,718|
||**310,842**
**225,537**|
||**122,605**
**207,730**
**1,141,435**
**902,265**
**52,425**
**-**
**31,439**|
||**1,211,614**
**1,141,435**|
Page 6
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - CITY OF DAVID Balance Sheet**
## **At 31 December 2021**
|**Notes**
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors: Gift aid receivable
9
Cash at bank and in hand
**CREDITORS**
amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after one year
11
**NET ASSETS**
**INCOME FUNDS**
Unrestricted funds
**TOTAL FUNDS**|**£**
**£**
**2,993,870**
85,000
83,616
**168,616**
104,735
-
**3,057,751**
**3,057,751**
1,846,137
-
1,846,137
-
**1,211,614**
1,211,614
**1,211,614**
**2021**|**£**
**£**
**2,993,870**
85,000
83,616
**168,616**
104,735
-
**3,057,751**
**3,057,751**
1,846,137
-
1,846,137
-
**1,211,614**
1,211,614
**1,211,614**
**2021**|**£**
**£**
**2,993,870**
85,000
73,003
**158,003**
104,735
-
**3,047,137**
**3,047,137**
1,905,703
-
1,905,703
-
**1,141,435**
1,141,435
**1,141,435**
**2020**|**£**
**£**
**2,993,870**
85,000
73,003
**158,003**
104,735
-
**3,047,137**
**3,047,137**
1,905,703
-
1,905,703
-
**1,141,435**
1,141,435
**1,141,435**
**2020**|
|---|---|---|---|---|
||**168,616**
104,735
-
1,846,137
-||**158,003**
104,735
-
1,905,703
-||
||||||
|||**3,057,751**||**3,047,137**|
|||1,846,137
-||1,905,703
-|
||||||
|||**1,211,614**||**1,141,435**|
|||1,211,614||1,141,435|
|||**1,211,614**||**1,141,435**|
**Approved by the Trustees on 19th Oct 2022 and signed on their behalf by:**
Pastor Femi Alabi Mr. Adewale Alli
Page 7
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
Notes to the Financial Statements For the year ended 31 December 2021
## **1 ACCOUNTING POLICIES**
## **1.1 Basis of preparation**
The accounts have been prepared under the historical cost convention.
The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small charity.
The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Charities Act 2011.
## **1.2 Incoming resources**
Income is mainly from voluntary donations received from members and it is recognised when received by the charity.
## **1.3 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment 20% straight line Motor vehicles 20% straight line
|**2**
**DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES**
Tithes & Offerings
Gift Aid receivable|**Total Funds Total Funds**
**2021**
**2020**
£
£
348,447
348,267
85,000
85,000|
|---|---|
||**433,267**
**396,564**|
Page 8
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
Notes to the Financial Statements - continued For the year ended 31 December 2021
|**4 TOTAL RESOURCES EXPENDED**
Charitable activities
Governance costs|**£**
**£**
280,121
213,819
30,721
11,718|
|---|---|
||**310,842**
**225,537**|
## **5 TRUSTEES**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
Page 9
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
Notes to the Financial Statements - continued For the year ended 31 December 2021
## **8 TANGIBLE FIXED ASSETS**
|**COST**
At 01 January 2020
Additions
Disposals
At 31 December 2020
**DEPRECIATION**
At 01 January 2020
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2019
At 31 December 2020
**9 DEBTORS**
Gift aid receivable
**10 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR**
Independent examination accrual
Loan from RCCG COD Cambridge
Loan from pastor
Loan from Shepherd hill|**Building**
**Furniture &**
**Fittings &**
**equipments**
£
£
2,993,870
92,768
-
-
-|**Motor**
**Vechicles**
**Total**
**Expenditure**
£
£
99,731
3,186,369
-
-
-
-|
|---|---|---|
||**2,993,870**
**92,768**
-
92,768
-|**99,731**
**3,186,369**
99,731
192,499
-
-|
||**-**
**92,768**
2,993,870
-|**99,731**
**192,499**
-
2,993,870|
||2,993,870
-|-
2,993,870|
|||**2021**
**2020**
£
£
85,000
85,000|
|||**2021**
**2020**
£
£
450
450
28,000
28,000
15,000
15,000
61,285
61,285|
|||**104,735**
**104,735**|
Page 10
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
Notes to the Financial Statements - continued For the year ended 31 December 2021
|**CREDITORS: AMOUNT FALLING DUE AFTER ONE YEAR**
Mortgage outstanding
Loan 1
Loan 2|**2021**
**2020**
£
£
946,137
1,093,949
500,000
500,000
400,000
400,000|
|---|---|
||**1,846,137**
**1,993,949**|
## **11 CREDITORS: AMOUNT FALLING DUE AFTER ONE YEAR**
The loan was advanced to the Church towards securing its permanent site. It is currently unsecured and interest free.
## **12 RELATED PARTY TRANSACTIONS**
During the year, the church paid instutional grants to other RCCG organisations such as the World Evangelism Mission.
## **13 STAFF COST AND NUMBERS**
Wages and salaries
|**2021**|**2020**|
|---|---|
|£|£|
|72,215|72,218|
|72,215|67,375|
**Year ended Year ended** The average number of employee during the year was as follows **2021 2020 No. No.** Pastoral 2 2 Charity administrations 2 2 4 4
Employees received remuneration in the year.
## **14 NET INCOMING RESOURCES/(RESOURCES EXPENDED)**
**NET INCOMING RESOURCES/(RESOURCES EXPENDED) Year ended Year ended** This stated after charging **2021 2020** £ £ Independent examiners's fees 450 450 **450 450**
Page 11
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
|**2021**
£
**INCOMING RESOURCES**
Tithes & Offerings
348,447
Gift Aid
85,000
**433,447**
**Charitable Activities**
Protocol Expense
1,805
Honorarium
4,150
Music charges
1,058
Children & Teenage department
1,250
Training & Conference
1,683
Mortgage Interest
46,485
Staff salaries
72,215
Printing, Postage and stationary
1,651
Telephone
3,305
Insurance
5,487
Covid 19
1,509
Travel Expenses
6,480
Bank Charges
1,069
Admin and Office Expense
763
Electricity, Gas & Fuel
1,757
Vehicle Expenses
7,187
Streamline Charges
329
Volunteers Exp
10,231
Repairs & Maintenance
5,506
Professional fees
13,820
Books
190
Office Equipment
2,275
Adverts and Publicity
4,635
Building related expenses
18,252
Hospitality
2,751
Multimedia
17,882
Waste Disposal
3,488
Pension
3,881
Choir
1,200
Business Rates
4,172
Other
3,100
**249,567**
249,567
**Expenditure c/f**
**249,567**
Detailed Statement of Financial Activities
For the year ended 31 December 2021|**2021**
£
**INCOMING RESOURCES**
Tithes & Offerings
348,447
Gift Aid
85,000
**433,447**
**Charitable Activities**
Protocol Expense
1,805
Honorarium
4,150
Music charges
1,058
Children & Teenage department
1,250
Training & Conference
1,683
Mortgage Interest
46,485
Staff salaries
72,215
Printing, Postage and stationary
1,651
Telephone
3,305
Insurance
5,487
Covid 19
1,509
Travel Expenses
6,480
Bank Charges
1,069
Admin and Office Expense
763
Electricity, Gas & Fuel
1,757
Vehicle Expenses
7,187
Streamline Charges
329
Volunteers Exp
10,231
Repairs & Maintenance
5,506
Professional fees
13,820
Books
190
Office Equipment
2,275
Adverts and Publicity
4,635
Building related expenses
18,252
Hospitality
2,751
Multimedia
17,882
Waste Disposal
3,488
Pension
3,881
Choir
1,200
Business Rates
4,172
Other
3,100
**249,567**
249,567
**Expenditure c/f**
**249,567**
Detailed Statement of Financial Activities
For the year ended 31 December 2021|**2021**
£
**INCOMING RESOURCES**
Tithes & Offerings
348,447
Gift Aid
85,000
**433,447**
**Charitable Activities**
Protocol Expense
1,805
Honorarium
4,150
Music charges
1,058
Children & Teenage department
1,250
Training & Conference
1,683
Mortgage Interest
46,485
Staff salaries
72,215
Printing, Postage and stationary
1,651
Telephone
3,305
Insurance
5,487
Covid 19
1,509
Travel Expenses
6,480
Bank Charges
1,069
Admin and Office Expense
763
Electricity, Gas & Fuel
1,757
Vehicle Expenses
7,187
Streamline Charges
329
Volunteers Exp
10,231
Repairs & Maintenance
5,506
Professional fees
13,820
Books
190
Office Equipment
2,275
Adverts and Publicity
4,635
Building related expenses
18,252
Hospitality
2,751
Multimedia
17,882
Waste Disposal
3,488
Pension
3,881
Choir
1,200
Business Rates
4,172
Other
3,100
**249,567**
249,567
**Expenditure c/f**
**249,567**
Detailed Statement of Financial Activities
For the year ended 31 December 2021|**2,020**
£
348,267
85,000||
|---|---|---|---|---|
||**433,447**||**433,267**||
||1,805
4,150
1,058
1,250
1,683
46,485
72,215
1,651
3,305
5,487
1,509
6,480
1,069
763
1,757
7,187
329
10,231
5,506
13,820
190
2,275
4,635
18,252
2,751
17,882
3,488
3,881
1,200
4,172
3,100||1,068
9,874
500
293
2,488
49,243
72,218
791
3,267
6,572
-
6,468
728
1,231
2,941
5,378
127
8,980
6,331
150
3,592
2,159
-
1,942
-
3,603
3,614
541
6,080
4,360|204,539|
||**249,567**||**204,539**||
|||**249,567**||**204,539**|
Page 12
## **THE REDEEMED CHRISTIAN CHURCH OF GOD -CITY OF DAVID**
Detailed Statement of Financial Activities For the year ended 31 December 2021
|Brought forward
Donations
Welfare
Outreach
Projects
**Total Charitable activitities**
**GOVERNANCE COSTS**
Independent Examination
Professional fees
Legal Fees
**Total resources expended**
**Net income**|**2021**
**2020**
£
£
**249,567**
**204,539**
4,350
4,360
11,007
1,872
4,998
-
10,200
3,048|
|---|---|
||**280,121**
**213,819**|
||450
450
30,271
11,268
-
-|
||**30,721**
**11,718**|
||**310,842**
**225,537**|
||**122,605**
**207,730**|
Page 13