Registered Charity Number 1096702 Redeemed Christian Church of God , His Glory Tabernacle Unaudited Financial Statements For The Year Ended 31st December 2024 Redeemed Christian Church of God , His Glory Tabernacle Contents of The Financial Statements For The Year Ended 31st December, 2024 ||Page| |---|---| |Report of The Trustees|1 - 3| |Independent Examiner's Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Financial Statementss|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, 2024 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 ## Trustee's Report For The Year Ended 31st December, 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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. 31st December 2024 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 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. ## OBJECTIVES AND ACTIVITIES Objectives 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 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. ## 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. 2 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 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 2024 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 …………………………………………..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, 2024 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 2024 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 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. 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: 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, 2024 **----- Start of picture text -----**
2024 2023
Total Total
Unrestricted Restricted Fund Fund
Notes £ £ £ £
Income Resources
Incoming Resources From Generated Funds
Voluntary Income 1 181,489 - 181,489 286,702
Building fund
Other Income 131,174 131,174 76,009
Bank interest received
312,663 - 312,663 362,711
Resources Expended
Charitable Activities
Physical & Spiritual Need 321,076 - 321,076 273,465
Governance Costs 2 750 - 750 1,910
Total Resources Expended 321,826 - 321,826 275,375
NET INCOMING RESOURCES (9,163) - (9,163) 87,336
RECONCILATION OF FUNDS -
Total Funds Balances b/fwd 7 901,737 - 901,737 814,400
Total Funds Balances c/fwd 892,574 - 892,574 901,736
**----- End of picture text -----**
The Notes Form Part of These Financial Statements 5 Redeemed Christian Church of God , His Glory Tabernacle Balance Sheet as at 31 December 2024 |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|Unrestricted
Funds
Restricted
Funds
103,035
2,323
(87,846)
(85,523)
976,704
976,704|2024
2023
Total Funds
Total Funds
£
£
103,035
110,340
1,851,766
1,826,766
1,954,801
1,937,106
2,323
12,070
(87,846)
(50,897)
(85,523)
(38,827)
1,869,278
1,898,279
(976,704)
(996,542)
892,574
901,737
892,574
901,737
892,574
901,737| |---|---|---| 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 2024** ## 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
Bank Interest
Other Income
Gift Aid
Other Grants
**2**
**GOVERNANCE COSTS**
Accountancy
Legal fees|**2024**
**2023**
**£**
**£**
166,225
182,707
-
154
53,916
6,455
92,522
64,681
**312,663**
**253,997**
**2024**
**2023**
92,522
64,681
**2024**
**2023**
750
950
-
960
750
960| |---|---| 7 **Redeemed Christian Church of God , His Glory Tabernacle** ## **Notes to the Financial Statementss for the year ended 31 December 2024** |**3**
**Trustees' Expenses**
Wages and Salaries
Social Security Costs
**4**
**Tangible Fixed Assets**|47,063
67,553
2,500
2,412
49,563
69,965| |---|---| |**0**
**Choir**
**Equipment**
**Furniture &**
**Fittings**
**£**
**£**
**Cost**
At 1 January 2024
160,820
160,820
72,518
At 31 December 2024
160,820
160,820
72,518
**Depreciation**
At 1 January 2024
65,681
65,681
57,317
Charge for the year
4,265
4,265
3,040
At 31 December 2024
69,946
69,946
60,357
**Net book value**
At 31 December 2024
90,874
90,874
12,161
At 31 December 2023
95,139
95,139
15,201
Freehold Land and Buildings:
Historical cost
**5**
**Creditors: amounts falling due within one year**
Bank loans and overdrafts
Trade Creditors
**6**
**Creditors: amounts falling due after one year**
Mortgage loans
Obligations under finance lease and hire purchase contracts
Bank Loans|
**Motor**
**Vehicles**
**Total**
**£**
**£**
10,730
244,068
10,730
244,068
10,730
133,728
-
7,305
10,730
141,033
-
103,035
-
110,340
**2024**
**2023**
**£**
**£**
1,851,766
1,759,616
**2024**
**2023**
**£**
**£**
11,340
1,141
76,506
49,756
87,846
50,897
**2024**
**2023**
**£**
**£**
905,625
909,821
41,007
52,289
30,072
34,432
976,704
996,542| |---|---| 8 **Redeemed Christian Church of God , His Glory Tabernacle** ## **Notes to the Financial Statementss for the year ended 31 December 2024** |**7**|**Movement in Funds**|**At**|**01 01 24 **|**Movement**|**At 31 12 24**| |---|---|---|---|---|---| ||||**£**|**£**|**£**| ||Unrestricted**funds**||||| ||General fund||901,737|(9,163)|892,574| ||TOTAL FUNDS||901,737|(9,163)|892,574| ||Net movement in funds, included in the above are as follows:||||| ||**Unrestricted funds**|**Incoming**
**Resources**
**£**
312,663||**Resources**
**Expended**
**£**
321,826|**Movement in**
**Funds**
**£**
(9,163)| ||General fund||||| ||Total Fund||312,663|321,826|(9,163)| 9 ## Redeemed Christian Church of God , His Glory Tabernacle ## Detailed Statement Of Financial Activities For The Year Ended 31 December, 2024 |INCOMING RESOURCES
Tithes & Offering
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
Members' welfare and training
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
Cleaning Expenses
Wages & salaries
Social Security
Equipment expensed
Other Legal and Professional
Finance Charges
Depreciation charge
TOTAL RESOURCES EXPENDED
NET INCOME|2024
2023
Unrestricted
Total
Total
Fund
Fund
£
£
£
166,225.41
166,225.41
241,890.58
53,915.56
53,915.56
17,934.98
92,522.01
92,522.01
76,008.50
312,662.98
312,662.98
362,710.64
5,550.00
5,550.00
3,520.00
315.00
315.00
129.00
7,762.00
7,762.00
3,800.00
2,220.00
2,220.00
4,646.00
6,364.00
6,364.00
2,124.00
1,460.00
1,460.00
2,243.00
-
-
-
36,831.00
36,831.00
26,579.00
2,462.00
2,462.00
-
62,964.00
62,964.00
43,041.00
750.00
750.00
950.00
-
-
960.00
750.00
750.00
1,910.00
38,392.00
38,392.00
49,435.00
-
-
4,108.00
1,979.00
1,979.00
1,671.00
1,718.00
1,718.00
1,195.00
1,451.00
1,451.00
2,195.00
47,030.00
47,030.00
10,104.00
8,355.00
8,355.00
10,365.00
232.00
232.00
261.00
2,300.00
2,300.00
-
47,063.00
47,063.00
67,553.00
2,500.00
2,500.00
2,412.00
18,582.00
18,582.00
-
-
-
3,500.00
81,205.00
81,205.00
66,797.00
7,305.00
7,305.00
10,828.00
258,112.00
258,112.00
230,424.00
321,826.00
321,826.00
275,375.00
9,163.02
-
9,163.02
-
87,335.64| |---|---| 10