RKDFTrlItWD CHRISTILN CIIURCH OF GOD RENLIVAL GROUND I)ARIS'H TRUSTEES, ANNUAL REPORTS & ACC,OUNTS OR THE PERIOD 1ST JANL'ARY I'C) 31%'1' DECEJIJIFR 2022 Charity Number 1099036
DFEIKIED CHRISTIALN CHURCFI 014 GOD Rf4 NWWAL GROI.-ND 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. 5. Notes to the Financial statement Pages 8-14
REDFFIIED CHRISTIAN, CHIJRC,H OF GOT) lIL.EwAL GROU_ND PARISII TRLTSTEES IIEPORT FOR TIIE I"FAR 31 DPCPIIsR 206)26 . 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 IA)ndon N4 2TW Trustee Members: Olatade AMOS Ichairperson] Emmanuel. E. EGBOCHUO Mr. John FARAYIBI Bankers: HSBC Bank Plc. 3 12 Seven Sisters Road Finsbury Pk London N4 2AW. Accountsnts: Labami Consultancy Ltd. Management Consulting & Accountancy. 16 Warren Gardens Kent, TNI I OBF. Independent Examiner I£mo Corporate Chartered Certified Accountant 8 15 Old Kent Road IK)ndon SE15 INX Paqe l of 14
REDEEJIED CIIRISTIALN CHI-,RCH OF GOD RE.NI4 WAL GRC)I",¥D PARI&iH TRI",STFFS ANYUAL REPORT FOR 'IHb YEAR F)IDFT) .31 DECEIBER .")OQ6) The board herewith Presents herewith the activities rcport and audited financial report for the year ended 31 December 2022 with external examiner report. The trustees collfirm that this report comply with the cuent statulory requirements: the requirement governing the document of the Church. Charities Act 2011 and Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Stsndard applicable in the UK and Republic of Ireland published on 16 July 2014. 'Appointment of Trustee Members: The trustee memkrs were elected in accordance with the lernis of Trust deeds according lo the Charity commission recommendations. Each member was elected on hi&lher merit based on experience. independence of thoughL opinion and ¢ommitmenL ConstitutioD of the Church: The church came to existence on l O March 2002 as an offshooi from RCCG - Redemption ParislL Leyton in London. From 18 August 2003, the Church has obtained ils full Registered Charity status with charity number 1099036. '1"here have been some changes in the trustee's members and their details which has adequafrly reported on every annual submission Principal Activity of tbe Cburch The Redeen]ed Christian Chuwh of God- Renewal Ground Parish (the church) is a Non- Profit making Organisation. Its principal activity is to preach the gospel of Jesus Christ. drawing people to Christ through various soul winning prograrnmes of evangelism, touching liv¢s and making disciples among people of all Nations. Another imwrtant object of the church is to cater for welfare of its members 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 regular basis for the effective management of the activities and its affairs. The Church also has an administrator, who in agreement with the p&stor reswnds to all administrative and correspondence matters of the ChurclL Risk Anatysis and Management: The Trustces have considered probable financial and otherwkse risks that th¢ charity is exposed and systems havc been established based their cxpcrience and w)licy guidelines published by the UK headquarter of the mission to minimise them where unavoidable. Internal Procedures are established and are regularty reviewed to ensure compliance. Related Party Relationshipk Renewal Ground Parish is a member of Redeemed Christian Church of God (RCCG). which has parishes in many countries all over the world. This means it has close relatkonship with RCCG and ils Parishes WorldThide. This relationship is governed by a document called the -Agreement for Common Purposcs" in the areas of making financial contributions and human representations. Page 2 of 14
CHRISTIAN- e,HL.RCH OF GOD RTTAL GROL_ND PAIII%H TVRI",8TFFS RFPORT Ic'oNTiIITEDI OR THP YFJ2lR .41 1)FCFlf13ER S?092. Reserves Policy: The 1Thtees still have not Ien able to set aside an Unrestricted Amount &8 anticipated for this accounting period. however. there is a Deposit account linked to the Current account of the Church with th¢ same bank. It is in this Deposit account that a Substantial Sum of the Church money is kept as reserve and nol used for running the expenses ofthe church except for when there is a serious financial need. which currently has a balance in in excess of Fifteen Thousand Pounds [£15,IK)O.001 Wc plan lo increase this amount after our successful gift aid claim and for the Irustees to dernlIne how best to add value to it. In the year under rcport, the Church did not generate enough money in furtherance of his activities. It has deficit balance of One thoUsd, nine hundred and ninety-three tx)und5 and thirty-four pence. [£1,993.34p) No .money was taken from savings Deposit account but the difference was covered with tithes and offering donation received as a going concern organisation. Review of the financial and Asset Management continuc to be the practice of the board of trustce. The Restricted fund has not been established yet because of the current S17£ of the congregation members and associated fmancial matters however. all the available income has allowed Iclassified as "Unrestrictcd with all expenditures subject to Approval of the Board of I rustee" Grant imaking Polici&.. The parish has a policy of supwrting visiting ministers of the Jospel both from within and olltside the United Kingdom in financial tenns. Support is and always given to RCCG Central ole¢ administration. World Evangelism Mission {WEM). The Church gave a donation of £250.00 towards Festival of Life (FOL)progrdmme in the year and Contribution to other RCCG ¢oll¢¢tive programmes in pursuil of gospel mission and in compliance with the agreeEnent of common purw)se. In addition to the above and in accordance to the objective of the church, it also gi¢$ occasional and one-off welfare grant and support to congregalional members who are in need or support for those who are bereaved. REVIEW OF THE ACTIVITIES AND FUTURE DEVELOPMENrs: The activities of the Church have centred on numeri gro of the congregational members as well as spiritual advancemenL On the average we have 65 Adults and 40 members in Youth and Children Departments The Church now operates Hybrid Servic¢s. Physical in Church Building on Sunday5 and special programmes while the Mid-week is done OD Zoom and free conference line and has been very effective. Sunday school services are also streamed on Zoom lit while the Sunday school summary also goes out live on You Tube and Face1k. In future the Church intend to go fully Digital in her proorammes The Church had a special 2 days end of the y¢ar prograll]me theMed-Oral10n No Crossover (Thursday 29 & Friday 30 December 2022 and 2022into 2023 Crossover servic¢ TIIL Cliiircli siKIi(liIw ivill r¢llilI I£ge1). lo.supixii1 IIIL L4)sIK"l. rLiil ol. i)Itili5 r()r ii'ii'Lb, cnnii)liI1llcL fLqiiifLIIILnls and coi)tr&l)ulioIL¥ to Il'odd Li.Tell51]I Missioii. A5 IL diL' Cu%l()iii, viiiliiig MITii.slcr Tr11 l)L given lionomiiiIii for tlic"I cacliing and Mil)is11]UnS Community Outreach: The ¢omTnunity oLeaCh w&s held on a low for fInancial constraints. notwithstanding, hampers were given out to people in the COTnmunity during Christmas Season. The Church had a very interesting and very. successfuI community event uch bigger than 2021 on Saturday 23 July 2022 Poge 3 of 14
FOR YEAR KNDKD 31 DEcBER 2022. Yollth And Skngks hfjjistry: Youth ]sty is for thildren ages 4.11 It Contin to inspiT by Sist¢rAdwla K0l8fe. aCtsvit$ take pkn on Zoom on most Satsrdays befittillg Church building of hu ovm in the Dcarfutswe is b1iJ] w I)U on goin& The year, vlhich Va8 true and fair Tiew of the state ofaffalrs of the Church and of the swplus or pr¢$7Dne that the Tntst will COAne in owthion] financial TltiOn of the church in compjAa withthe Clwities Act as applicable. This wort wds approved by the trwttts on 24110 12023. Pe40f14
CO R PORA T E Chartered Certified Accountants B75 OldKeni Road Ltsndon SE75 TMX Tpl. 020 7732 7017 Fax." 02D 7732 f735 Jn¥nreOlemo-cgrporate.co uk yA¥.1m¢.ttyptsrOte ¢¢.uk VAT R•g No. 643m Independent Examiner's Report to the TnLsttts ofRCCC - Renewal Ground Parish We report on the accounts of RCCG - Renewal Ground Pan"sh for year ended 31 DeCemr 2022 which are sei out on pages 6 to 14 Respectiv¢ respo5bIlitieS oftrusttts and ekwDiner The chartty's twslees are resw)nsible for the Preparaiion of the accounts. The charity's trusiees consider that an audit is not required for this year (under section 14412) of thc Charities Aci 2011 (the 2011 Act)) and that an Indenderf examination is needed. Ii is my responsibility to= examine the accounts (under section 145 of ihe 2011 Acl)- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act)- and io stale whether particular matters have con* my attention. Basis of indendent examiner's report My exarnination was carried out in accordance with the General DiTtionS given by the Chariiy Commission. An examin10 includes a VIeW of li accounting record5 kcpi by the chartty and a Comparison of the accounts presen1 with ihose recurds. It also includes conSider10n of any unusual items or disclosures in the accounts and seeking explanations from you as trnslees concerning any such mar(ers. The prwedures undertaken do not provide all the evidence thal would k required in an audit, and consequently I do not express an audit opinion on view given by the accounts. Independent examiner's statement In conneciion wilh my examination. no matter has come to my attention: ( l) which gives rne reasonable &iuse lo believe that in any JtktrTial respect ihe requiremen to keep COUn(1ng ordS in accordance wits% I30 of the 2011 Act; and to prepare accounts which accfjrd with the accounting records and comply with the accounting requiremenis ol the 2011 Act have not kcn Tnei- or (2) to which. in my opinion, attentson should be drawri in order io enable a proyr understsnding of the accounts io be reached. Name: MR. IBOLA LEMO (FCC& Msc) Signature Da 27 10 2013 sof 14
REDEEMF.D CHRIsfLIN CHURCH OF GOD RENF.W.IL GROUND PARISH srATEMENT C)F FtNIlNCIAL ACllVtfIES JNCOME ANTD EXTENDI'fLI1F.. For Thc FinanciaI . earof 1st 2nu2rY tn .31 December 2021 LiDrestricted Unrcstricted Funds unds 2022 2021 Notes Gift aid Collected Donations C,ollections and Planned Giving-Tithc Collection at all Church services Collection Towards Buiidmg Bank Interest 51036.18 21.3.30.82 54.766.80 20.993.76 1.55 75.762.11 TOTAL INCOMING RbSOURCPS 74,-367.00 RESOURC.ES FTrF.NDED 2022 2021 Grants Payable - Instimtional-WEML Grants Payabk - Individu21 c.ost of ilctivitics in Furth%ce of the Charity's c>bjccts Resoutccs Expended on bfan2ging and Admintsteting the Charity Total Resources Expended in the year Net Moi?ement of Funds ia the year TOT,IL FUNDS AT l JIIN L',_4RY TOT..iL FUNDS AT 31 DECLUBEIL 8&11 11.8(M).35 1547.93 12.811.76 1,689.58 10 28,515.05 17280.60 33,497.01 76.360.34 1.993.34 28,806.45 26.813.11 33.388.45 65.170.39 10.51)1.72 18214.7.3 28,.45 Page 6of14
BENEWAL GROiJND PARISH of 1st tt) 31 Deceth 2tr22 13 Q370Z7 7yO.82 15 2522172 Z7247.82 o.(K) 2522272 Z72Kt.82 31.59199 34,588.64 16 17 4.779.88 &78219 26 813.11 Baljnce as at]amary MoFeJneAt of in year 28,.45 1.99334 26 813.11 14214.73 10.591.72 28.806.45 on i 4 / 10 /2LY23. S]ga theirt&if br. Pastor O]2tsde Amos trLStee Meuthez) Page 7rf14
REDEEIED CI{1£19TIA CEIIJPXCII OF GOD RLNEIVAL GROL.ND PAI<ISH NOTES TO TIIE FINANCIAL STATEIIEYTS FOR WIIP I-Tr AR FNDVD 31 DEe,FIIBFR 2092. Accounting Polices: Basis of Accounting: The accounts (financial statements) have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in th¢ r¢l¢vant note(s) to these accounls. The financial statements have IKcn prepared TTJ accordance with the Sthtemenl of Recommended Practice: Accounting and Rewrting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir¢land {FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The summation of the figures in the year end 2022 account have been rounded up or down to the nearest pound as deem appropriate. 1.2 Fund Accounting: This forni of accounting recognises that funds may either be Unrestricted (General) 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 funds 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 fund classified as restrtcted but all spending has been subjected to proper approval of the trustees. 1.3 Incoming Resourees= All incoming resources are included in the Statement of Financial Activities of the church is as legally entitled to and the amount can be quantified with reasonable accuracy. A sum of seventy -four thousand, three hundred and sixty-seven pounds [£74,367.00) was received as being total income for the year without any Gift aid collection (See Note4 1.4 Resources Expelld: All expenditures are accounted for on an 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 basis consistent with the use of the resources. A total sum seventy-six thousand, three hundred ajid sixty pounds and thirty-four pence 1£76,360.34p 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 note J2) Page 8 of 14
C,HRISTIAN eHITRCH OF GOD IILNFWAJ. GROI-,5 PARISH NOTES TO IN'ANC,IAL STATEIIE_¥rrs FOII 'I'Ill4 I-FAR FJLNU)ED 31 DFCEIIBER 2022. 1.5 Grants: Grants payable are charged in the year when the offer is made except in such cases when the offer is made subject to fulfilling conditionls), which then become recognised when such conditions are fuEfilled. Grants offered subject to conditions, which have not been met at the year-end, are noted as commitment, but not as accrned expenditure. (There is none as at tlus year*nd) Grants Receivable becomes recognised when they were received. 2. Tangible Fixed Assets and Depreciation Policy: All assets costing more than Two Hundred and Fifty pounds [£250.00] 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 FixLure and Fittings Computers & Printers 12.50 % (Straight-line} 12.500/0 Istraight-linel 20 % (Straight Line) 2.1. Related Party Transaction: During the yw, Renewal Ground Parish did not pay any grant to the Zonal head office of which the parish belongs, however a sum of Two hundred and Fifty pounds1£250.001 was given towards Festival of Life. In the future these commitment remains, as part of fuiflliing 'Agreement for Common Purpose". 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 rAOt have a saleable value of amount indicated were it to be disposed in an open market. We do not have asset disposal this reporting accounting year note 13J. 2.3 Surplus l (Defieit) Imovement of Fundsl This is the amount stated in the Income and Expenditure account after charging for all expenditures incurred by the Charity and making provision for depreciation and asset written off where and when applicable. This year we have a deficit of One thousand, nine hundred and ninety -three pounds and thirty-four pence as stated l£1,993.341 despite all cost-savings strategies employed. Tithe and Offering collection are very low due to the ratio of working class to non -working class that made up the congregation. The state of the economy has not been helpful Page 9of14
i)b C;HRIS'I'IAN C;HIJR(;H OF GOD RE.T¥kllAL GROL'IND PARISH ,¥O'I'LS TO THE 'lA.LIAL STATEhlL_¥T FOR THb YIAR 31 DLCEIIBER kn?021 2.4 Capital Commitment At moment the charity does not have any capitsj commitment /Property of her own, however there is no Iegal restriction to prevent them from having a property of their own in the near future. in fLrtherance of the charity's objectives. 2.5 Debtors and Prepayments: This represent primarily the Services that has been paid for but not yet rendered to the charity and of amount falling due within one year. For this year end account, it stands at 7£ro balajice INote 161 as disclosed in the Balance sheet on page seven. 2.6 Creditors and Aeeruals: The total amount represented under this column represent amount owed by the Charity and categorised as amount falltng due in less than one year. For this year end account, this amount to the sum of Four thousand, seven hundred and seventy-nine pounds and eight pence only1£4,779.88pl (Note 17) as disclosed in the Balance Sheet on page seven. 3.1 Trustees and Renumeratiolls 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 - £NIL) During the year, none of the Trustees received any reimbursement of Expenses (2,000 - £NtL) 3.2. Paid Employee: The pastor is the only Paid employee of the Church and his Salary and allowances were deterniined 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 8Jiy increase to his salary in the current year. 3.3. Volunteers: An estimate of Two hundred and fifty hours was recorded for members who came in at various times to work voluntarily for the progress of the Church. If this were lo be valued at a conservative value of a Dational minimum wage per hour, their ¢fforts would have amounted to an excess of two thousand )undS by approximation. Page Ioof 14
REDEEMED CHRISI'tAN CHURCH OF GOD RENEWAL GROUND PJllUSH (Notos to the.Iccount) earof 1st to 31 December 2022 For'l'he Fine121 4. VOLUNTARY INCOMESIDONATIONS . TO"fAL Funds 2022 T(yfAL Funds 2021 TOTAL Funds 20 Church Collections CT¢neral Donations Totsl T(yfAL TOTAL TOTAL unds Funds 2020 5. Church Collections: Collections at all servxces Planncd ring/Tithes I'O'I'.ILS 22,330.82 51036.18 74,367.(M) 20.993.76 54.766.80 75.7()0.56 20.284.68 44.550.72 64.835.40 6. BUIIDIN(i fuNDS /BANK INTERESTS Unrcstticted L'ntestritted Untcstricted Funds Funds unds 2022 2020 Net Bank Intcrcst Building Trlaintenance/Funds 1.55 0.39 o. 1.55 0.39 P¢¥g8 11 of14
REDEEMED CHiusfL4N CHURCH OF GOD RENEWAL C.ROLWD PARISH (Notes to the Account) ear of Isr aauary to 31 Decembcr 2022. For Thc Financial 7. SL'MMARY RF.CORD OF INCOMtNG RF.SOURCFS. 2022 2021 2020 Gift Aid Collcctcd Genetal Donations Collections I'owards Church Building c.hurch Coll¢thion at all Servlces PIAnned GIan8 (fith¢s) Net Bank Deposit interest O.(M) 22,330.82 52,036.18 20,993.76 54,766.80 1.55 75.762.11 20284.68 44550.72 0.39 64,8.35.79 74,367.LlJ 8 GLINTS PAYABLE 2022 2021 2020 Individual Grants Payable.Welf#re and Charitable giving World Evangc]ism Nfission -WEM TOTAL GRANTS PAYABLE 2.547.93 5,311.50 11,800.35 19,Ib59.78 1.689.58 2,6.(M) 12,811.7C) 14,501.34 1?151.41 14,751.41 9 RESOURCFS EXPENDED ON MANAGING & IU)MtNISTERtNCJ THE CHARrrY 2020 P35tor's Salary/Pension & PAYE Admintstrations/Compliance cost 'I'i*asport/Trarelling Expcnscs 'I'elephone and Intemct Assct written off Depteciation Sundry, /Nliscell2neous TC)TrlI. 24.621.41 6.521TT 520.49 1,363.54 24,520.29 6.904. 23,652..38 7,136.98 187.80 1.047.25 1.011.89 268.80 952.27 763.47 33,497.01 33.388.45 32,787.88 Page 12 of 14
REDEF.NIED CHRIsfLIN CHLTRCH OF GOD RENEW,.IJ. GROUND PAIUSH (Note5 to the ,4ccount) 'ear of 1st ' t() 31 December 2022. Fot Thc Financial 10 COST OF AcfiviTIFS IN fuRTHERANCE OF THE CHAIUTYS OBJF.rr 2022 2021 2020 Hall rcntal fot Church SCes. Visiting Speth Expenses Choir and blusic Mini8tration G05pd 2nd Chanty glving Hospitxliry PrintsAg of Church Ftyets & Ststioncry Training 13.9(K).IXI I,1.(KI 6,tK16.IXI 5.311.50 2,¢XIO.(K) 197.55 12.350. 7(Kl. 1559.(M) 1.377.60 )781.25 3(Kl.00 274.(K) 3045.45 337.00 95.00 25.00 13,857.70 269.(K) 25.IMI 17280.60 TOIALS 28,515.05 li GILINTS PAYABLE . INSFITLrrioN Namc Description World F.vange]ism DAdv2nC¢mCQt J,INUARY-MARI of Faith APRII. -JUNF. JL'.LY_SF.iyfEMBER OCTOBEIL _ DLCEMBER TOTAL 2022 2021 3304.98 3227.51 2492.90 2834.96 11,860.35 2.824.92 3.173.14 3.479.16 3,J34.54 12,811.76 12 SUMNL4RY OF RE.SOLTRCFS EXPENDED DLrNG THE YL4R Notcs 2022 2021 Grts Payable - Institutional & IndivAth 8 #nd I I Cost of ActItteS in fithernce of the C io Costs Expended to Manage & Adn7]nt 14.348.28 28.515.05 33,497.01 76,360.34 14,501.34 17,280.60 33,388.45 05,170.39 TOTAL RESOURCFS &XPENDED = Page 13 of14
REDEENfED CHRTsfiAN CHIqiCH OF GOD RENEWAL GROLTND PAIUSH (Notcs to the Accounts) earof 1st an to 31 December 2022. For The Financial 13 I'ANGIBLE I41.XF.D ASSF.TS YEIR END 2022 ML'SIC EQUtpitENV. L4PTOP 2022 TOTALS 2022 C05t/Vah]ation At l January Add: New Equiptncnts 9.712.92 1.687. 11 J99.92 O.(M) 9.712.92 2.527.00 11239.92 Less: Asset vjtitten off Accutnu]2ted Dcprcciatton Charge fot the year Depreciation Totsl NE'f ASSET: 31 Deccmbet 4.77250 828.35 126.(M) 4.898.50 971.15 14280 5,(rfK).85 5.799.07 268.80 571.20 5.869.65 6,370.27 14 Asset Itten off due to ob501cscencc and damages ASSET 2022 2021 2020 IS Bank (S*w & Curtenr) 2022 2020 252? .72 27247.82 16,979.26 16 DEBTORS: 0.00 17 CRF_DrroRS 2022 020 Amount Falhng due withtn one ye2r Amount fallg duc more tban one ye2t 4,779.88 5.782.19 4,531.22 TOTAL 4.779.88 5,782.19 4.i31.22 Page 14of14