Reglstered Charlty Number 1096702 Redeemed Chrlstlan Church of God , Hls Glory Tabernade Unaudlted Flnancial Statements For The Year Ended 31st December 2022 Redeemed Chrlstlan Churth of God . HIS Glory Tabernacle Contents of The Flnanclal Statements For The Year Ended 31tt December, 2022 Page Report of The Trustees Independent Examinerfs Report Statement of Flnanclal Artlvltles Balance Sheet 7-10 Detailed Statement of Financial Activities 11- 12 Redeemed Christlan Churth of God . HIS Glory Tabernacle Report Of The Trurtees For The Year Ended 31tt December, 2022 REFERENCE AND ADMINlffRATIVE DEfAILS Reglstered Charlty Number 1096702 Prlnclpal address. Unit 17 & 19 Bellingham Trading Estate Frantharne Way Catford SE6 3BX Trurtees Mr. Femi Agoro Dr Frank Amposah Mr Abidoun Adeboyejo Mrs. Idowu Ojo Mrs Mercy Ilebode Secretary Treasurer Independent Examiner Lemo Corporate (Chartered Certified Accountants) Accountants 815 Old Kent Road London SE15 INX Bankers HSBC 15 Wellington Street London SE18 6PH Redeemed Chrlstlan Church of God , Hls Glory Tabernade Truttee'5 Report For The Year Ended 31st December, 2022 The trustees present their report with the financial statements of the charity for the year ended 31 De￿rnber 2022. The trustees have adopted the provisions of the Statement of Recommended practi￿ {SORPI 'Accounting and Reporting by Charities, issued in July 2014. RUCTURE. GOVERNANCE AND ANAGEMENT Induttion and tralning of new truttees New Trustees are given an understanding of the charitrfs 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. Organlsatlonal structure The churth Is organlsed such that the day to day runnlng of the thurch has been delegated to the Parlsh Pattor and the Charlty Manager. The Trustees are consulted on all materlal Issues and determine the strateglc dlre(tlon of the charity- Trurtees meet formally twlce a year and as and when requlred to revlew the operatlons of the charity- 31st De￿mber 2022 His Glory Tabernacle is a member of the Redeemed Christian Church Of God IRCCG) which has parishes all over the world. The relationship is governed by an 'Agreement For Common Purposes. between the parishes and RCCG. Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and appropriate controls are in place to provide reasonable assurance against fraud and error. OBJEcfivES AND AcfiviTIES Oble(tlves and alms 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 Poll Freely available reseNes 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. Prlndpal fvndlng sou￿$ Currently. the principal funding sources of the charity are from donations made by its volunteers and members. 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 £1.799M as at 31.12.2022. 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 De￿mber 2022 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. Approved by order of the board of trustees on behalf by.. .and signed on its Mr Feml Agoro . For Trustee Redeemed Chrlstlan Churth of God . HIS Glory Tabernacle For The Year Ended 31tt December, 2022 Independent Examlnerfs Report To the Trustee5 of Redeemed Christlan Churth of God . HIS Glory Tabernacle I report on the accounts for the year ended 31 December 2022 set out on pages five to ten. Respectlve responslbilltles of trustees and examlner 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(21 of the Charities Act 2011 (the 2011 Actll and that an independent examination is required. The charity's gross income does not exceeded £250.000 and l am qualified to undertake the examination by being a qualified member of ACCA. It Is my responslblllty to: examlne the accounts under Section 145 of the 2011 Act to follow the prO￿d￿re5 lald down In the General Dlre(tlons glven by the Charlty Commlsslon (under Section 145(5)(b) of the 2011 Art). and to state whether particular matters have come to my attentlon. 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 prO￿d￿re$ 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 examlner's rtatement In connection with my examination. no matter has come to my attention: l) 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 12) 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 Certifled Accountants) Accountants 815 Old Kent Road London SE15 INX Date................................................ Redeemed Christian Church of God , His Glory Tabernacle ## Statement of Financial Activities For the year ended 31 December, 2022 |Unrestricted
Notes
£
Income Resources
Incoming Resources From Generated Funds
Voluntary Income
1
246,722
Building fund
Other Income
62,990
Bank interest received
309,712
Resources Expended
Charitable Activities
Physical & Spiritual Need
276,249
Governance Costs
2
1,449
Total Resources Expended
277,698
NET INCOMING RESOURCES
32,014
RECONCILATION OF FUNDS
Total Funds Balances b/fwd
7
814,400
Total Funds Balances c/fwd
846,414|Restricted
£
-
-
-
-
-
-
-|2022
2021
Total
Total
Fund
Fund
£
£
246,722
253,997
62,990
309,712
253,997
276,249
155,061
1,449
1,449
277,698
156,510
32,014
97,487
-
814,400
716,912
846,414
814,399| |---|---|---| ||-|| The Notes Form Part of These Financial Statements 5 ## Redeemed Christian Church of God , His Glory Tabernacle Balance Sheet as at 31 December 2022 |Notes
FIXED ASSETS
Tangible assets
4
Other Tangible assets
CURRENT ASSETS
Cash at bank and in hand
CREDITORS
Amounts Falling Due within one Year
5
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts Falling Due after one Year
6
NET ASSETS
Unrestricted Funds
7
Unrestricted Funds
TOTAL FUNDS
The financial statements were approved by the
were signed on its behalf by:
Approved by Board of Trustees
Mr Femi Agoro (For The Trustee)|2022
Unrestricte
d Funds
Restricted
Funds
Total Funds
£
-
40,222
1,759,616
1,799,838
5,174
5,174
54,361
8,717
8,717
(102,620)
(3,543)
(3,543)
(3,543)
1,796,295
-
(949,882)
(934,936)
(3,543)
846,414
846,414
846,414
Board of Trustees on.................................... and
|54,361
(102,620)| |---|---|---| |||| The Notes Form Part of These Financial Statements Page 6 2021 Total Funds £ 37,978 1,759,616 1,797,594 54,361 (102,620) (48,259) 1,749,335 (934,936) 814,400 814,400 814,400 The Notes Form Part of These Financial Statements Page 7 Redeemed Christian Church of God His Glory Tabernacle Notes to the Financial Statementss for the year ended 31 December 2022 ACCOUNTING POLICIES Accounting Convention The financial Statements have been prepared under the historical cost conveni and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 201 l and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (issued July 20141 Incoming Resources All incoming resources are included on the Statement of Financial Activities when 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 attribu1 to particular headings they have been allocated to activities on a basis consistent the use of resources. Grant5 offered Subject to conditions which have not been met at the year end da1 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 fu nds can be used in accordance with the charitable objectives at the discretion of the trustees. I VOLUNTARY INCOME 2022 2021 Tithes & Offerings Bank Interest Building Fund Other Income Gift Aid 237,122 182,707 154 9,600 62,990 309,712 6,455 48,644 237,960 2022 2021 Grant5 received, included in the above, are as follows.. Other Grant5 62,990 48,644 Redeemed Christian Church of God His Glory Tabernacle Notes to the Financial Statementss for the year ended 31 December 2022 2 GOVERNANCE COSTS 2022 2021 Accountancy Legal fees 750 699 1 ,449 750 699 699 3 Wages and Salaries Social Security Costs 48,003 2,412 40,818 1,375 4 Tangible Fixed Assets Cholr Furniture & Equlpment Flttlngs Motor vehicle$ Total Cost At l January 2022 Additions At 31 December 2022 78,646 72,518 10,730 161,894 78,646 72,518 10,730 161,894 Depreciation At l January 2022 Charge for the year At 31 December 2022 58,388 4,052 62,440 48,767 10,465 117,620 4,052 121,672 48,767 10,465 Net book value At 31 December 2022 At 31 December 2021 16,206 20,258 23,751 23,751 265 265 40,222 44,274 Freehold Land and Buildings= 2022 2021 Historical cost 1,759,616 1,759,616 5 Creditors- amounts falling due within one year 2022 2021 Bank loans and overdrafts Trade Creditors Service Charges 5,029 3,688 44,487 58,133 102,620 8,717 6 Creditors- amounts falling due after one year 2022 2021 Redeemed Christian Church of God His Glory Tabernacle Notes to the Financial Statementss for the year ended 31 December 2022 Mortgage loans Bank Loans 910,563 39,319 949,882 934,936 934 936 7 Movement in Funds At 01 01 21 Movement At 31 12 22 Unrestricted funds General fund TOTAL FUNDS 814,400 814,400 32,014 32,014 846,414 846,414 Net movement in funds, included in the above are as follows.. Incoming Resources Movement Resources Expended in Funds Unrestricted funds General fund Total Fund 309,712 277,698 32,014 309712 277 698 10 Redeemed Chrlrtlan Church of God . HIS Glory T8bernacle Detalled Statement Of Flnanclal Artlvltle5 For The Year Ended 31 December. 2022 2022 2021 Unre5trlrted Re5trlrted Total Fund Total Fund INCOMING RESOURCE5 Tithes & Offering HMRC JRS GRANT 237.122.00 237.122.00 160.035.61 17.305.64 1.120.00 27.144.00 6.724.00 41.667.50 253.996.75 Donation Building fund Other income Gift Aid Total Incomln8 Resource5 9.600.00 62.990.00 309.712.00 9.600.00 62.990.00 309.712.00 RESOURCE5 EXPENDED Charltable Artlvltles Donations & Subs 3.510.00 214.00 3.510.00 214.00 6.035.00 40.00 Books & Manuals Honorarium & volunteer WEM & Centr81 funding Travelling and subsistence Printing. postage & stationery IT Software and Consumables 11.880.00 3.710.00 4.747.00 720.00 3.299.00 5.194.00 33.274.00 11.880.00 3.710.00 4.747.00 720.00 3.299.00 5.194.00 33.274.00 3.150.00 2.460.00 1.678.00 1.545.00 1.288.00 11.136.00 27.332.00 Church Activities & Exp Governance Costs Accountancy fees Professional charges 750.00 750.00 750.00 699.00 1.449.00 699.00 1.449.00 699.00 1.449.00 Support Costs M8na8ement Rent & rates ght & heat Bank charges Insurance Telephone & fax Repairs & maintenance Security- Service Charges Wages & salaries Soci81 Security Equipment expensed Finance Charges Depreciation charge 41.416.00 37.500.Tr) 1.942.00 14.145.00 3.299.00 50.364.00 4.200.00 48.003.00 2.412.00 1.080.Tr) 34.562.00 4.052.00 242.975.00 41.416.00 37.500.00 1.942.00 14.145.00 3.299.00 50.364.00 4.200.00 48.003.00 2.412.00 1.080.00 34.562.00 4.052.00 242.975.00 38.040.00 3.324.00 1.563.00 1.310.00 4.422.00 5.623.00 1.845.00 40.818.00 1.375.00 350.00 22.604.00 6.455.00 127.729.00 TOTAL RESOURCES EXPENDED 277.698.00 277.698.00 156.510.00 INCOME 32.014.00 32.Ol4.00 97.486.75