Registered Charity Number 1096702
Redeemed Christian Church of God , His Glory Tabernacle
Unaudited Financial Statements For The Year Ended
31st December 2021
Redeemed Christian Church of God , His Glory Tabernacle
Contents of The Financial Statements For The Year Ended 31st December, 2021
||Page|
|---|---|
|Report of The Trustees|1 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 - 10|
|Detailed Statement of Financial Activities|11 - 12|
Redeemed Christian Church of God , His Glory Tabernacle Report Of The Trustees For The Year Ended 31st December, 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number 1096702
Principal address. Unit 17 - 19 Bellingham Trading Estate Frantharne Way Catford SE6 3BX
Trustees Mr. Femi Agoro Dr Frank Amposah Mr Abidoun Adeboyejo Mrs. Idowu Ojo Secretary Mrs Mercy Ilebode Treasurer
Independent Examiner Lemo Corporate (Chartered Certified Accountants) Accountants 815 Old Kent Road London SE15 1NX
Bankers HSBC 15 Wellington Street London SE18 6PH
1
## Redeemed Christian Church of God , His Glory Tabernacle Trustees Report
For The Year Ended 31st December, 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities' issued in July 2014.
## STRUCTURE, GOVERNANCE AND ANAGEMENT
## Induction and training of new trustees
New Trustees are given an understanding of the charity's objectives and the requirements of the Charity Commission. They are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Charity Commission bulletins/updates are also forwarded to Trustees as and when issued.
## Organisational structure
The church is organised such that the day to day running of the church has been delegated to the Parish Pastor and the Charity Manager. The Trustees are consulted on all material issues and determine the strategic direction of the charity. Trustees meet formally twice a year and as and when required to review the operations of the charity.
## Notes to the Financial Statements
His Glory Tabernacle is a member of the Redeemed Christian 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
Currently, the principal funding sources of the charity are from donations made by its volunteers and members.
## OBJECTIVES AND ACTIVITIES
The advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule 2.2.2 the relief of poverty 2.3 the trustees must use the income and may use the capital of the trust in promoting the objects.
## FINANCIAL REVIEW
## Reserves Policy
Freely available reserves are a pool of unapplied resources available to meet future demands on the charity’s resources. This is “general purpose money that can be spent on any of the purposes of the charity. Reserves are required to ensure the charity can meet its general business commitments.
## Principal funding sources
Currently, the principal funding sources of the charity are from donations made by its volunteers and members.
2
## FUTURE DEVELOPMENTS
Missions will be a focus for the church into the near future as we seek to help alleviate poverty. We will also continue to seek strategic and collaborative relationships with other local community organisations as a means of achieving our objectives. Employment and education remain important means of relieving poverty and to that end, we will organise seminars to equip members of the local community with skills relevant for securing employment.
## LAND & BUILDING
The charity acquired Unit 17-18 Bellingham Trading Estate during the year ended 2019 as its permanent place of Worship and refinance Unit 19 all together into the new purchase.The total Value of the three Units now stands at £1.70M as at 31.12.2021.
The Trustees are responsible for ensuring that proper books are maintained, for safeguarding the assets of the charity, and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Board has reviewed the effectiveness of the system of internal control for the period to 31 December 2021 and for the period to the date of signing these accounts. There are no material weaknesses that would have resulted in losses, contingencies and uncertainties that require a separate disclosure in these accounts.
## 26/10/2022
Approved by order of the board of trustees on …………………………………………..and signed on its behalf by:
.......................................................
Mr Femi Agoro -- For Trustee
3
Redeemed Christian Church of God , His Glory Tabernacle For The Year Ended 31st December, 2021
## Independent Examiner's Report
To the Trustees of
Redeemed Christian Church of God , His Glory Tabernacle
I report on the accounts for the year ended 31 December 2021 set out on pages five to ten.
## Respective responsibilities of trustees and 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 required. The charity's gross income does not exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA.
## It is my responsibility to:
examine the accounts under Section 145 of the 2011 Act to follow the procedures laid down in the General Directions given by the Charity Commission (under Section l45(5)(b) of the 2011 Act); and to state whether particular matters have come to my attention.
## Notes to the Financial Statements
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.
In connection with my examination, no matter has come to my attention:
1) which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
For and on Behalf of Lemo Corporate
Lemo Corporate (Chartered Certified Accountants)
Accountants 815 Old Kent Road London SE15 1NX
Date................................................
4
Redeemed Christian Church of God , His Glory Tabernacle
## Statement of Financial Activities
For the year ended 31 December, 2021
|Unrestricted
Notes
£
Income Resources
Incoming Resources From Generated Funds
Voluntary Income
1
236,691
Building fund
Other Income
17,306
Bank interest received
Notes to the Financial Statements
253,997
Resources Expended
Charitable Activities
155,061
Governance Costs
2
1,449
Total Resources Expended
156,510
NET INCOMING RESOURCES
97,488
RECONCILATION OF FUNDS
Total Funds Balances b/fwd
7
716,912
Total Funds Balances c/fwd
814,400|Restricted
£
-
-
-
-
-
-
-|2021
2020
Total
Total
Fund
Fund
£
£
236,691
228,445
17,306
253,997
228,445
155,061
146,482
1,449
3,440
156,510
149,922
97,487
78,523
-
(19,690)
716,912
658,079
814,399
716,912|
|---|---|---|
||-||
The Notes Form Part of These Financial Statements
5
## Redeemed Christian Church of God , His Glory Tabernacle Balance Sheet
as at 31 December 2021
||||2021||2020|
|---|---|---|---|---|---|
||Notes||Total Funds||Total Funds|
||||£||£|
|FIXED ASSETS||||||
|Tangible assets|4||37,978||21,055|
|Other Tangible assets|||1,759,616||1,734,616|
||||1,797,594||1,755,671|
|CURRENT ASSETS||||||
|Cash at bank and in hand||54,361|54,361|23,564|23,564|
|CREDITORS||||||
|Amounts Falling Due within one Year|5|102,620|102,620|(99,796)|(99,796)|
|NET CURRENT ASSETS|||(48,259)||(76,232)|
|TOTAL ASSETS LESS CURRENT||||||
|LIABILITIES|||1,749,335||1,679,439|
|CREDITORS||||||
|Amounts Falling Due after one Year|6|(934,936)|(934,936)|(962,526)|(962,526)|
|NET ASSETS|||814,400||716,913|
|Unrestricted Funds|7|||||
|Unrestricted Funds|||814,400||716,913|
|TOTAL FUNDS|||814,400||716,913|
The financial statements were approved by the Board of Trustees on.................................... and were signed on its behalf by:
Approved by Board of Trustees Mr Femi Agoro (For The Trustee)
The Notes Form Part of These Financial Statements
Page 6
**Redeemed Christian Church of God , His Glory Tabernacle**
## **Notes to the Financial Statementss for the year ended 31 December 2021**
## ACCOUNTING POLICIES
## **Accounting Convention**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (issued July 2014)
## Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## Resources Expended
aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## Tangible Fixed Assets
## Taxation
The charity is exempt from tax on its charitable activities.
## Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **1 VOLUNTARY INCOME**
|Tithes & Offerings
HMRC JRS GRANT
Donation
Bank Interest
Building Fund
Other Income
Gift Aid
Grants received, included in the above, are as follows:
Other Grants|**2021**
**2020**
**£**
**£**
160,036
182,707
17,306
1,120
-
154
27,144
6,724
6,455
41,668
48,644
**253,998**
**237,960**
**2021**
**2020**
**£**
**£**
41,668
48,644|
|---|---|
7
**Redeemed Christian Church of God , His Glory Tabernacle**
## **Notes to the Financial Statementss for the year ended 31 December 2021**
|**2**
**GOVERNANCE COSTS**
Accountancy
Legal fees
**3**
**Trustees' Expenses**
Wages and Salaries
Social Security Costs
**4**
**Tangible Fixed Assets**
**Choir**
**Equipment**
**Furniture &**
**Fittings**
**£**
**£**
**Cost**
At 1 January 2021
78,646
49,140
Additions
-
23,378
At 31 December 2021
78,646
72,518
**Depreciation**
At 1 January 2021
58,388
48,674
Charge for the year
4,052
2,337
At 31 December 2021
62,440
51,011
**Net book value**
At 31 December 2021
16,206
21,507
At 31 December 2020
20,258
466
Freehold Land and Buildings:
Historical cost
Cumulative depreciation based on historical cost
**5**
**Creditors: amounts falling due within one year**
Bank loans and overdrafts
Trade Creditors
Service Charges|**Choir**
**Equipment**
**Furniture &**
**Fittings**
**£**
78,646
49,140
-
23,378|**2021**
**2020**
750
400
699
3,040
1,449
3,040
40,818
26,447
1,375
1,236
42,193
27,683
**2021**
**2020**
**Motor vehicles**
**Total**
**£**
**£**
10,730
217,162
-
23,378
10,730
240,540
10,399
175,849
66
10,507
10,465
186,356
265
54,184
331
41,313
**2021**
**2020**
**£**
**£**
1,759,616
1,734,616
-
-
**2021**
**2020**
**£**
**£**
44,487
50,000
-
29,796
58,133
20,000
102,620
99,796|
|---|---|---|
||78,646
72,518||
||58,388
48,674
4,052
2,337||
||62,440
51,011||
||16,206
21,507||
||20,258
466||
8
**Redeemed Christian Church of God , His Glory Tabernacle**
## **Notes to the Financial Statementss**
## **for the year ended 31 December 2021**
|**6**
**Creditors: amounts falling due after one year**
Mortgage loans
**7**
**Movement in Funds**
**At 01 01 21**
**£**
Unrestricted**funds**
General fund
716,912
TOTAL FUNDS
716,912|**2021**
**2020**
**£**
**£**
934,936
962,526
**Movement In**
**At 31 12 21**
**£**
**£**
97,488
814,400
97,488
814,400|
|---|---|
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Total Fund|**Incoming**
**Resources**
**£**
253,998|**Resources**
**Expended**
**Movement in**
**Funds**
**£**
**£**
156,510
97,488
156,510
97,488|
|---|---|---|
||253,998||
9
## Redeemed Christian Church of God , His Glory Tabernacle Detailed Statement Of Financial Activities For The Year Ended 31 December, 2021
|Detailed Statement Of Financial Activities
For The Year Ended 31 December, 2021||
|---|---|
|INCOMING RESOURCES
Tithes & Offering
HMRC JRS GRANT
Donation
Bank Interest
Building fund
Other income
Gift Aid
Total Incoming Resources
RESOURCES EXPENDED
Charitable Activities
Donations & Subs
Books & Manuals
Honorarium & volunteer
WEM & Central funding
Travelling and subsistence
Printing, postage & stationery
IT Software and Consumables
Church Activities & Exp
Governance Costs
Accountancy fees
Professional charges
Support Costs Management
Rent & rates
Light & heat
Bank charges
Insurance
Telephone & fax
Repairs & maintenance
Security - Service Charges
Service Charges
Wages & salaries
Social Security
Equipment expensed
Finance Charges
Depreciation charge
TOTAL RESOURCES EXPENDED
NET INCOME|2021
2020
Unrestricted
Restricted
Total
Total
Fund
Fund
£
£
£
£
160,035.61
160,035.61
124,300.00
17,305.64
17,305.64
-
1,120.00
1,120.00
-
-
-
14.00
27,144.00
11,210.00
6,724.00
27,513.00
41,667.50
65,408.00|
||253,996.75
-
178,461.25
228,445.00|
||6,035.00
6,035.00
3,445.00
40.00
40.00
842.00
3,150.00
3,150.00
5,995.00
2,460.00
2,460.00
5,550.00
1,678.00
1,678.00
605.00
1,545.00
1,545.00
797.00
1,288.00
1,288.00
-
11,136.00
11,136.00
6,728.00|
||27,332.00
-
27,332.00
23,962.00|
||750.00
750.00
400.00
699.00
699.00
3,040.00|
||1,449.00
-
1,449.00
3,440.00|
||38,040.00
38,040.00
66,961.00
3,324.00
3,324.00
1,108.00
1,563.00
1,563.00
1,455.00
1,310.00
1,310.00
1,194.00
4,422.00
4,422.00
3,227.00
5,623.00
5,623.00
12,673.00
1,845.00
1,845.00
1,650.00
-
-
1,858.00
40,818.00
40,818.00
26,447.00
1,375.00
1,375.00
1,236.00
350.00
350.00
797.00
22,604.00
22,604.00
-
6,455.00
6,455.00
3,914.00|
||127,729.00
-
127,729.00
122,520.00|
|||
||156,510.00
-
156,510.00
149,922.00|
|||
||97,486.75
-
21,951.25
78,523.00|
10