RVDELIIIFD CHRISTIILN CHURCH OF GOD RELNEII'AL GROUNI) PARISH TRIJSTEES. ANNIJAL RbPORTS & ACCOLN'II OR PERIOD I- JANLARY TO .31%T DECb MIl]4 R h2091 Charity Number 1099036
REDEEfvIED eHRISTIA.N CIIITIICII 014 GOD R GROIJJL D PARISH Contents l. Trustees Annual Report Pages 14 2. Independent Examiner's report Page 5 3. Statement of Financial activities Page 6 4. Balance Sheet Page 7. S. Notes to the Financial statement Pages 8-14
RFDFENIED C.HRISTIALN CIII-JRCH OF GOD RENEM'AL GROLIN"D PARISII TRlJ&iTEES REPORT FOR I"KAR K.NDED 31 DECETrIBER 2021. The Pastor in Charge: Peter BASHORUN Church Correspondence Address: 12 Chester Close, Chafford Hundred, Grays, Essex RM 16 6ET. Church Worship Address: St. Olave's Church Hall Woodberry Down Manor House London N4 2TW Trustee Members: Olatade AMOS IChairyErson] Emmanuel. E. EGBOCHUO o Mr. John FARAYIBI Bankers: HSBC Bank Plc. 3 12 Seven Sisters Road Finsbury Park London N4 2AW. Accountants: Labami Consultancy Ltd. Management Consulting & Accountancy. 16 Warren Gardens Kent, TNI I OBF. Independent Examiner Lemo Corporate Chartered Certified Accountant 815 Old Kent Road IK)ndon SEI 5 INX Paqe l of 14
REDEEMED CHRISTIAN CHLTRCH OF CYOD REThEWAL C.ROLND PARISH TRIJSTEES ILNNI-,AI, RFPORT FOR THE YLAI2 ENDED 31 DECEMBER 2091 The board herewith presents herewith the activities rert and audited financial report for the year ended 31 December 2021 with external examiner reporL The trustees confirni that this report comply wtth the cuent siatutory requirements, the requirement governing the document of the ChurclL Charities Act 2011 and Accounting and Reporting by charities: Statement of R¢commended Practice applicable to cl)ariti¢s preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. AppoiDtment of Trnstee Members: The trustee Mem1rS were elected in accordance with th¢ ternjs of Trust deeds according to the Charity commission recommendations. Each member was elected on hislher merit based on eXlence, independence of thoughL opinion and commitmenL Con$titu¢ion of the Cburch= The church came to existence on 10 March 2002 as an offshoot from RCCG - R¢d¢mption Parish, LKyton in London. Fron) 18 August 2003, the Church has obtained its full Registered Charity status with charity numkr 1099036. There have not been any changes in the trstee members since last reN>rL Principal Activity of the Cburch The Redeemed Christian Church of G(Ml- Renewal Ground Parish (the church) is a Non- Profil making Organisation. Its principal activity is to preach the gospel of Jesus Christ, drawing people to Christ through various soul winning prO¢S of evangelism, touching lives and making disciples among people of all Nations. Another imrK)rtant object of the church is to cater for welfare of its Membe and non- members within the limit of its resources. Organisation of the Church.. The church is organised in a way to allow the trustees to meet on regulat b&sis for the effective management of the activities and its affaiT5. The Church also has an administralor, who in agre¢m¢nt with the p&stor respon(Ls to all administrative and corresw)ndence matters of the ChurclL Risk Anatysis and MaDagemeDt: The Trustees have considered probable financial and otherwise risks that the charity is exposed and systems have been estsblished based up)n their experience and tx)licy guidelines published by the UK headquarter of the mission to minirmse them where unavoidable. Internal pro¢eduTes are established and are regularly reviewed to ensure compliance. Related Party Re12tion$hip& Renewal Gmund Parish is a member of Redeemed Christian Church of God (RCCG), which has parishes in many countries all over the worlit This means it has close relationship with RCCG and its Parishes Worldwide. This relationship is governed by a document called the -Agreement for Cotnmon Purposes" in the areas of making fjnancial contributions and human representations. Page 2 of 14
REDEEThIED C.HRISTIAN CHITRC,II OF GOD Rb.Nknl4"AI. GROUI%"D PARISH TRIJSTEES REPORT ICONTI.N'lJbDI POR THF L.N'DLD 31 DEC'EJIBER 62021. Reserves Policy: The trustees slill have not able lo set &side an Unrestricted Amount as anticipated foT this accounting peri(xl. however. there is a DetM)sit account linked to the Current account of the Church with the same bank. It is in this Dep)sit account that a substantial Sum of the Church money is kept as reserve and not used for nnIng the expenses of the church except for when there 15 a serious fuwLcial need, which currently has a balance in in excess of Fifteen Thousand Pounds [£15.000.(K)] An amount 15 expected to be set as restricta as may be thought fit by the board of TnLStees. In the year under report. the Church record a surplus of Ten thousan(L five hundred and ninety-one pounds and seventy-two pence [£10,591.72 therefore no money was moved from deposit account. Review of the financial and Asset Management continue to be the practice of the board of trustee. The Restricted fund h&s not been estsblished yet kcause of the currenl size of the congJregyation members and associated financial matters however, all the available income has been allowed /classified as "Unrestricted with all expenditures subject to Approval of the Board of TrusÈee-. Grant Making Polieies." The parish has a FKTrlicy of supporting visiting ministers of the gospel both fTOm Within and oulside ihe United Kingdom in financial tem)s. Support is and always given to RCCG Central oftfice administration. World Evangelism Mission (WEM), Festival of Life (FOL)programme wthenever there is one and other RCCG colleclive programm¢s in pursuit of gos1 mission and in compliance with the agreement of common purpose. In addition to th¢ above and ID accordance to the objective of the church. It also gives ocG4sional and one-off welfare grant and supN)rt to congregational members who are in need or support for those who are bereaved. Review of the Activities and Future Developments: The activities of the Church have been centred on numerical growth of the congregational melnbers as well as spiritual advancement. The Church now do both Physical and online services on Sundavs and the Midweek and Monthl>. Iloly Communion setvices are done via Zoom link. In additio Sunday school services are also streamed on Zoom link while the Sunday school summary also goes out live on You Tube and Faceboo Youth Ministy for children ages 4 -12 takes place on Zoom most Saturdays and also meet on Sundays under the leadership of sister Adeola Komolafe. The Children's Church is headed by Sister Asinma EglK)chuo. These two groups are pIEsid over by Pastor (Mrs) Regina Bashorun who is the n]inister in charge. In the futur¢ th¢ Church inknd to go fully Digital in her programmes TIIL CliurLli S(111]£ iyill Iiiiili L..1}. to supwrt llit gosi)el, .]1[ c)l-i)rL'iiiises f()r scivices, coliiplw1 rcquiretllLiIL% 1{1 ci)iitribuiioIis lo Il'odd Li-¢U]gckn'siii Missioii. Ab- il i% llie Custt)111, visitiiig Minislcr will gAi'eIi IM)noranuni loi Tcacllll anil F*linists7tioi)s Community Outreach: The community Outreach was held on a low scal¢ this y&v. noiwithslandin& hampers were given out to Ople in the community during Christmas season. The Church hope to have a bigger communitv event planned for 2022 Poge 3 of 14
REDEEMKD CHRISTIAN CIIURCH OY GOD RUWIKES REPORT Ic.vMJyNimA FOR YRAR KIYDKD 31 DIGCEMBKR 2021. Youth and Singles Ministry: A kn of iwficial ThogT&tw for the Sinol¢s has not I effective since but tbe Youth lthistrv fv Child8¢S 4.12 zeceives g(xhl Dma Egknhuo. Sk is al Ik head of thi]drni derortmenL Sister Adeola Komolafe takes dwrge of the ll1£ of the I3-yearld teenage group. Their activitAes t8ke clwge the singl hfjnisty [Togr. The Singles knisty have not been effective Place of Worship: The Church is stsll rnting ahall kn C1Ct[_0 its seryjces and steadfast. The p]an io }ssI1>1Y orgaDise luthn lo rai funds bef{ approacbing the bank Board of TrDStee5' Respon8thllitie&' Regulatioos applicabk tr) Charity organisation in ytw, which givcs and fair view ofthe ste ofaff3iTS of the aJtEch and of tbe surplus or deficit of the church for perio Ill ryeDamg those finala1 statements the tro#ees have: Selected g)it8ble counting Fvlicies •41 appli them consisteDdy. presunw tlu# ihe Tn willcon11pn in oKeronon] Stated whcther applirable acco yrtyhrds have ken foJ]owe4L [Subi10 a Other R¢SDlI111ties. The InK8t5 bav¢ the overall Yes)nSIbIlIty of niaw1 the affairs of the churdL This is accomplish by setting up of approm system of coJAtn)Is FK)th financial aTr finatrid TX)Sitton of the church in ¢orDDI1 with the Clwities Ad as aDplicabl This ryx)rt was apyrov1 by the tr8t¢eS on 291.?12021 Ptr Olat*k AMOS. FnerlY Pastr Suoday O?llldow (For<4p&ion bela/0fthe Tn£e) 4frf14
CORPORATE Chartered Certified Accountsnts 875 Old Kent Rgèd London SE15 TPQX 02D 7732 7017 Fa¥.. 020 7732 1735 +Jp•nceOhmD-corporata.co.u .lemo-corpora(e co uk VAf Reg No.. 8432W56Z Independent Erdminer's Repbrt to the Trustees of RCCG - Renewal Ground Paris We report on the accounts of RCCG - Renewal Grouryj Parish for the y&ir ended 31 December 2021 which are set oui on pages 6 to 14 Respective re5POn5ibilities of trstee5 and examiner The charity's irusiees a responslble for ihe pparall0n of the aCCOUT]Is. The eharity's trustees consider that an audit is not required for this year {under seclion 144(21 of the Charilies Act 2011 (the 2011 Act)) and that an 1ndelldent exavnination is needed. It is my responsibility to= examine the accounts (under section 145 01 the 2011 Acl). to follow the predureS laid dowft in the General Directions given by the Charily Commi&sioners {under se£lion 145(5){b) olthe 2011 Act). and to State whether particular rnatiers have Con io Tny aiienlion. Basis of independent examiner s report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination include5 a review of the accouniing records kept by the charity and ¢1 comparison of Ihe accounts presented with those records. It also includes conqiderdiion of dny unusual items or di5clvsures in ihe a¢¢ounts and seeking explanations from you as tnjstees concerning any such maiters. The procedures undertaken do not provide all the evidencc thai would be required in an audit. dnd consequently I do not express an audil opinion on the view given by the accounts. Independent examiner's statement In connection with Tny examinaiion. no matter has- come io my alntiOn.. { l) which gives me reasonable cause to IKlicve th in any material re5cl the tequirements lo keep iccounting records in accordance with seclion 130 of the 2011 Act: and to prepare accounts which accord wilh the accounting records and comply with the accounting requiremenis of ihe 2011 Act have noi en mei- or 12) to which. in my opinion, attention should iK drdwn in orJer io enable a protEr underswlding of the accounis io ix reached. Name: MR. AJ BOLA LEMO (FCCA. MSC) Signature Date £d£ 5of14
REDEEMED CHIUSTIAN CHURCH OF GOD RENEWAL GROUND PARISH STATEMENf OF FtNANCIAL AcfivITIES INCOME AND EXPENDITURE. For The Financial ear of 1st January to 31 DeceM1r 2021. Unrestricted Unrestricted Funds 2020 2021 Nrtes Collections and Planned Giving -Titl Collection at all Church services Gift Aid Collected General Donatio$ Collection Towards Building Bank Int¢rest TOTAL INCOMtNG RESOURCES 54,766.80 20.993.76 44,550.72 20.284.68 0.00 0.00 1.55 75,762.11 0.39 64,835.79 RESOURCES EXPENDED 2021 2020 Grants PayabIe - Institutional-WEM Grants Payable - Individual Cost of Activities in Furtherdnce of the Charity's objects Resources Expended on Managing and AdmIterIng the Charity Total R¢sources ExpeTKled in the year Net Movement of Funds in the y TOTAL FUNDS AT I JANUARY TOTAL FUNDS AT 31 DECEMBETL 8&11 12.811.76 1,689.58 12.151.41 2.600.00 10 17.280.60 13,857.70 33,388.45 65,170.39 10.591.72 18,214.73 28,806.45 32,787.88 61,396.99 3.438.80 14,775.93 18,214.73 Page 6 iy14
RE%EWAI. GROUND P*lRJSII BALANCE SHEET. of J 31 Lkt¢othr2021. 7J40.82 5.766.69 Z7247.82 om 27247.xz 34J88. 1&97926 21745.95 5.782.19 4J3122 182J4.73 15214.73 10.591.n 28.806.45 14.775.93 3.431.80 18214.73 j 2ts22. sip thirithlfbr.
REDFD ). IFD CHRISTIA¥ CIIURCII OF GOD Ell'AI. C.ROUNTD PAIIISH NO'I'ES TO THE Tr'INANLIAL STATEIIFNTS FOR TIIE YEAR ENI)b D 31 DEe.FhIBER 20¥)1. Accounting Poli¢¢s: Basis of Accounting: The accounts {financial statements) have been Prepared under the historical cost convention with items recognized at cost OT transaction value unless otherwise stated in the relevant note(s) lo these accounts. The flllancial statemenls have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting SLqndard applicable in th¢ United Kingdom and Republic of Ireland (FRS 102) and the clrItIeS Act 2011. The summation of the figures in the year end 202 1 account have been rounded up or down to the nearest pound as deem appropriate. 1.2 Fund Accounting: This form of accounting recognises that funds may either be Unrestricted {Generall or Restricted (Specific). General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objective of the church and which have not been set-aside for any specific purpose. Restricted ftmds are funds, which are to be used in accordance with the specific restriction placed on them either by the donor or the trustees. For this year-end, there are no such fLmd classified as restricted but all spending has en subjected to proper approval of the trustees. IJ Incoming Resources: All incoming resources are included in the Statement of Financial Activities of the church is as leg8Jly entitled to and the amount can be quantified with reasonable accuracy. A sum of seventy -five thousand. seven hundred and sixty-two pounds and eleven pence [£75,762. 11) was received as being the tot8J income for the Ye without any Gift aid collection or donations (See Nthen 1.4 Resources Expended: All expenditures are accounted for on 8n accrual basis and have been included under expense categories that aggregate all such costs for allocation to activities. Where costs cannot be directly allocated or attributed to a particular activity, they have been allocated on a basks consistent with the use of the resources. A total sum of Sixty-five thousand, one hundred and seventy pounds and thirty-nine pence 1£65, 170.39] were expended in the year. This comprises Institutional grants payable, cost of activities in furtherance of the Charity's object and resources expended on managing and administering the Charity. (See Tr1* 12) Page 8 of 14
REDEEMVI) e,HRISTIAIN eHI."ReH OF GOD NOTTr S TO THE b ILNANCIAI. STATFIIPYTS OIQ TH YEIKR ENDED 31 DE{,.EIBR 9021. 1.5 Grants: Grants payable are Chaed in the year when the offer is made except in such cases when the offer is made subject to fuifillkng condition(sl, which then become recognised when such conditions are fulfthed. Grants offered subject to conditions, which have not been met at the year-end, are noted as commitment, but not as acced expendilure. lThere ts none as at this yearndJ Grants Receivable becomes recognised when they were received. 2. Tangible Fixed Assets and Depreciation Policy: Akl assets costing more tharA Two Hundred and Fifty pounds1£250.001 are capitalised. Tangible assets are stated at cost less depreciation and at pro-rata where acquisition date is part way of the accounting period. Depreciation is provided at the rates calculated to provide a net book value and not as a disposable value. They are therefore charged on the following basis. Music and Church Equipment Fixture and Fittings Computers & Printers 12.50 % {Straight-linel 12.50 % Istraight_linel 200/0 (Straight Line) 2.1. Relat Party TraDsaction= During the year. Renewal Ground Parish did not pay any grant to the Zonaj head olCe of whkch the parish belongs and no contribution towards the Festival of Life as the biannual event did not hold due to Organiser's ongoing policy review. In the future these commitment remains, as part of fuIrlng °Agreement for Common PL)ose°. 2.2. Asset written off and Disposal: The Fixed asset value in this yearend account represent a going concern valuation and not a market value. This means that it may not have a saleable value of amount indicated were it to be disposed in an open market. We do not haue asset disposal this reporting accounting year(Sge nole 13). 2.3 Surplus l (Deficit) Imovement of Fundsl This amount as stated in the Income and Expenditure account is after charging for ail expenditures incurred by the charity and making provision for asset depreciation, and asset written off if any during the fmancÉal year. For this year end, the account was in Surplus of Ten thousand, five hundred and ninety-one pounds and seventy-two pence (£10,59 1.721 Predominantly the Youth that are not working fornis the majority of the congregation members including pensioners. Besides, the small number of working classes comparatively has a direct impact on the church and its members in relation to tithe and offering collected in the year in addition to the county's economy. Page 90I14
CIIRISTIAN" CIIL"RCH OF GOJ) RE.¥EII"AL GROlJ_¥D PARISH NO,Ls TO TEIL FISA_IN CIAL STATEIIENT2i FOR THE I"KAR ENDED 31 DEC]IBER 420421 2.4 Capital Commitment At moment the charity does not have any capital commitment /Property of her own, however there is no legal restriction to prevent them from having a property of their own in the near future in furtherance of the charity's objectives. 2.5 Debtors and Prepavments: This represent primarily the Services that has en paid for but not yet rendered to the Charity and of amount falltng due within one year. For this year end account, it stands at zero balance Wote 161 as disclosed in the BaEance sheet on page seven. 2.6 Creditors and Aecruals: The total amount represented under this column represent amount owed by the Charity and categorised as amount falling due in less than one year. For this year end account, this aTnount to the sum of Five thousand, seven hundred and eighty-two pounds and nineteen pence only1£5,782. 191 {Note 17) as disclosed in the Balance Sheet on page seven. 3.1 Trustees and RenumeratlODS During the year, none of the Trustees received any remuneration 12,000 - £NIL) During the ye, none of the Trustees received any benefits in kind (2,000 - £NILI During the year, none of the Trustees received any reimbursement of Expenses {2,000 - £NIL) 3.2. Paid Emplovee: The pastor is the only Paid employee of the Church and his Salary and allowances were determined by the Trustee. This is subject to annual review which is based on the ability to pay from the total incomes of unrestricted fund available. There has not been any increase to his salary in the current year. 3.3. Volunteers: An estimate of Two hundred and thirty-five hours w&s recorded for members who came in at various times to work voluntarily for the progress of the Church. If this were to be valued al a conservative value of a national minimum wage per hour, their etTorts would have amounted to an approximation of two thousand unds. Page 10 of 14
REDEEMED CHRISTIAN CHURCH OF GOD RENEWAL GROUND PARISH (Notcs to Account) For The Financial Y of 1st January to 31 D¢¢emkr 2021. 4. VOLUNTARY INCOMESILK)NATIONS . TOTAL Funds 2021 TOTAL Funds 2020 Church Building Collections General Donations 0.00 0.00 0.00 0.00 0.00 TotaI 0.00 5. Church collectio8. 2021 2020 Collections at a]1 services Planned givingrrithes TOTALS 20.993.76 54,766.80 75,760.56 20284.68 44550.72 64835.4 6. BUILDING FUNDS IBANK INTERESTS Unrestricted Unrestricted FurNJs Funds 2021 2020 Net Bank Interest Building maintenancelFuIS 1.55 0.00 1.55 0.39 0.39 Pose JI of 14
REDEEMED CHIUSTIAN CHURCH OF GOD RENEWAL GROUND PARJSH (Notes to the Account) For The Financial year of l st January to 31 December 2021. 7. SUMMARY RECORD OF INCOMtNG RESOURCES. 2021 2020 Church Collection at all Services Planned Giving (Tithes) Gift ANJ Coll¢ct¢d General Donations Collwtion towards Chuch building Net Bank Deposit interest 20,993.76 54.766.80 20,284.68 44.550.72 0.00 0.00 0.00 0.39 64,835.79 0.00 1.55 75,762.11 GRANTS PAYABLE 2019 2020 Individual Grants Payable-welfare Missionary and Charitable givll]g World EvangeIism Mission -WEM TOTAL GRANTS PAYABLE 1.689.58 2,600.(X) 12,811.76 14.501.34 12151.41 14751.41 RESOURCES EXPENDED ON MANAGING & ADMINISTERtNG THE CHAIUTY 2021 2020 Pastor's Salary/Pension & PAYE Paid AdEninistrations/CompIiance cosl Transp)rbTravelling ExperL8es Telephone and Internet Asset written off Depreciation TOTAL 24.520.29 6.904.(X) 23.652.38 7.136.98 187.80 1.047.25 1.011.89 952.27 33,388.45 763.47 32,787.88 Page 12 of14
REDEEMED CI4RISTIAN CHURCH OF GOD RENEWAL GROUND PARJSH (Notes to the Account} For The Financial year of 1st January to 31 December 2021. I O. COST OF ACTIVITIES IN FURTHERANCE 2021 2020 Hall rental for Church Services. Visiting Speakers Expenses Chotr and Music Ministration Gospel ar¥J CbarÈty giving Hospitality Printing of Church Hyers & Stationery Training TOTALS 12,350.(M) 700.00 2,559.00 lJ77.60 9781.25 300.00 274.00 3,045.45 337.00 95.00 25.00 13,857.70 269.00 25.00 17,280.60 GRANTS PAYABLE - INSTITUTION Name Description World EvangeIism AdVancennt JANUARY -MAF of Faith APRIL .JUNE JUL Y -SEPTEMBER OCTOBEIi - DECEMBFR TOTAL 2021 2020 2.824.92 3.173.14 3.479.16 3.334.54 12,811.76 3915.55 2420.71 2847.33 2967.82 12,151.41 12 SUMMARY OF RESOURCES EXPENDED DURING THE YEAR Notes 2021 2020 Grants Paydble- Institutirn)al & Indivith]als 8 aTKI I I Cost of Activities in furtherdre of the Charity object Costs Expended to MaEJage aryl Administ¢r the Charity TO'fAL RESOURCES EXPENDED= 14.501.34 14.751.41 10 17,280.60 13.857.70 33.388.45 65.170.J9 32,787.88 61,396.99 Page 13 rf14
REDEEMED CHRISTIAN CHURCH OF GOD RENEWAL GROUND PAIUSH (Notes to t Accounts) ear of 1st January to 31 Decemkn 2021. For The FinwKial 13. TANGIBLE FIXED ASSETS YEAR END 2021 MUSIC EQUIPMENI LAPTOP 2021 2021 TOTALS 2021 Cosbwaluation At l January Add: New Equipments 9,712.92 1.687.00 1.399.92 9.712.92 2.527.00 12,239.92 0.00 3.946.23 952.27 4,898.50 7,340.82 840.00 840.(M) L£ss: Asset writlen off Accumulated Depreciation Charge for the y D¢preciation Total NET ASSET: 31 De¢ernr 3,946.23 826.27 4.772.50 6,626.82 126.00 126.00 714.00 Asset written off due to oEtsolescerKe and daneS ASSET 14 2021 2020 0.00 0.00 15. Cash at Bank (Savlngs & Current) 2021 2020 27,247.82 16,979.26 2021 2020 16. DEBTORS: 0.00 17. CREDITORS 2021 2020 Amount falling due within one y Amount falling due after n]ore ttwi one year TOTAL 5.782.19 0.00 5,782.19 4,531.22 4,531.22 Page 14 Of14