2021-12-31-accounts

Redeemed Christian Church of God (RCCG) Victory Centre

Report and Accounts

31 December 2021

Charity No: 1099406

Redeemed Christian Church of God (RCCG) Victory Centre

Report and accounts for the year ended 31 December 2021

Contents

	Pages
Charity information	4
Trustees’ annual report	2-6
Statement of trustees’ responsibilities	7
independentexaminer's report	8-9
Funds Statements:-
Statement of financial activities	10
Fixed asset funds	11
Movements in funds	11
Income and expenditure account	42
Balance sheet	13
Notestotheaccounts	14-22

Redeemed Christian Church of God (RCCG) Victory Centre

Trustees’ annual report for the year ended 31 December 2021

The trustees present their report and accounts for the year ended 31 December 2021.

Reference and administrative details

The legal name of the charity is:- Redeemed Christian Church of God (RCCG) Victory Centre. The charity is also known by its operating name, Redeemed Christian Church of God (RCCG) Victory Centre.

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1099406.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as an unincorporated charity, established by trust deed dated 1 July 2003. The governing document of the charity is the trust deed establishing the charity.

The following persons served as trustees during the year ended 31 December 2021 and

who were in office on the date the report was approved were:

Mr David Afolarin Jimoh Mrs Titilayo Adelaja

Mr Michael Oladapo

The principal operating address, telephone number, email and web addresses of the charity

are:-

59/59A Plumstead Common Road

London SE18 3AS

Telephone: [phone]

Email Address: [e-mail]

Web address: www.rccgvictorycentre.com

Bankers

Barclays Bank Pic 99 Hatton Garden London

Accountants

Crownwise Consult Ltd 1A Town Square Erith Kent DA8 1RE

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Redeemed Christian Church of God (RCCG) Victory Centre

Trustees’ annual report for the year ended 31 December 2021

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

To seek the advancement of the Christian religion in accordance with the teachings of the Redeemed Christian Church of God and to educate people in the word of God. To teach the knowledge of Jesus Christ all over our area of operation and beyond.

Activities for achieving objectives.

The church in pursuant of her objectives organised programme of events which were open to all throughout the period under review. Christian worship services were conducted on regular basis. They were in addition to various teaching sessions for all and sundry, as well as training sessions for our volunteers.

Public benefit statement The board of trustees confirm that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011, and have had due regards to the Charity Commission's general guidance on public benefit. Particular consideration has been given to the Charity Commission's supplementary public guidance provisions on the advancement of religion for the public benefit.

The main activities undertaken in relation to those purposes during the year. The year under review, still was an eventful one, but a lot better than the previous one. The COVID19 pandemic was less severe and largely more under control.

Thankfully, our charity fared a lot better and none of our members lost their lives. Nevertheless, some of our members did contract the virus and went on to recover fully from its effect. For this, we remain eternally grateful to God because we are aware that some other charities like ours did not have it that good.

Most of our usual programmes and activities were yet to return to pre-pandemic levels as at the time of writing this report. Nevertheless, we continued to operate ‘hybrid’ services, which combine virtual and physical elements. The above meant that we had to heavily invest a lot of financial and human resources into making an impactful presence online.

As reported last year, we now have dedicated channels for our charity on both YouTube and Facebook. A lot of time and money were expended to ensure that our online programmes and activities were as effective as possible, helping to retain membership and also add new members from online. The following programmes and activities were operational throughout the year under review, using various technology-based equipments and resources:

4Sunday worship services. ANednesday mid-week services. Children Sunday school and church services. A4Adult Sunday school programmes. 5/Vomen's prayer meetings. AVien's prayer meetings. Women's and men's mental health talk workshops. 8Leaders' prayer and business meetings.

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Redeemed Christian Church of God (RCCG) Victory Centre

Trustees’ annual report for the year ended 31 December 2021

The main activities undertaken during the year to further the charity's purpose for the public benefit.

Community-based and community-focused activities

Our work within the community during the year under review continued to be largely driven by the need to take care of people and community members that were largely impacted by the pandemic. We embarked upon a lot of welfare activities, in the form of provision of food items, toiletries, groceries, medicines, running errands for vulnerable and isolating members and giving of cash to others. Our aim was to ensure that no member of our community was left without due care and attention. Our volunteers were going everywhere at this time, ensuring that everyone who needed help and support got it. We remain indebted to our volunteers again.

|.T. training and school of mentoring

This is one of our programmes that had to be migrated online and has since then continued to be done virtually. The positive outcome for this is that the programme has now increased capacity, both in numbers and the reach to areas and people beyond our immediate environment. We are happy to report that in spite of the initial hiccups brought about at the onset of the pandemic, this programme weathered the storm and eventually had a successful year at the end. We remain grateful for everyone who ensured that the programme took place and succeeded too.

Community centre operations

Our church’s two premises that were largely under lockdown in the previous year have now opened again. Nevertheless, the level of activities is yet to return to the pre-pandemic levels. We hope that in the nearest future, we would be able to return to those levels.

international outreach work with other partners

Our charitable working partnership of many years with COMPASSION UK continued in the year under review. We continued to sponsor about 40 children in the nation of Uganda (East Africa) in a holistic way. Our aim continued to be that we ensure that through education, these children and their families are snatched from the grip of poverty and disease forever.

Moreover, we were able to send some support for the works of the renowned Christian Missionary Agency called CAPRO when they reached out to us during the pandemic. We plan to continue to support them in any little way possible.

As reported last year, we adopted a mission field in the southwestern region of Nigeria. This particular community was devastatingly hit by the pandemic. Every month, we send some stipends to our missionaries on the ground, with the aim to provide food, medicines and sometimes cash, for very vulnerable members of the community (usually widows, widowers, elderly people who had no one to take care of them, indigent students, etc.)

We receive regular monthly reports from this mission field, which helps us to monitor their activities. Our desire to visit this mission field was hampered by the continued pandemic restrictions in that nation. It is our hope that the executive Pastor will be able to take a trip to this mission field in the future as part of ensuring due diligence.

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Redeemed Christian Church of God (RCCG) Victory Centre

Trustees’ annual report for the year ended 31 December 2021

The main achievements and performance of the charity during the year

During the period under review, and in spite of the prevailing pandemic, we tried our best to maintain connection and relationship with various members of our community in many ways. All manners of human and material resources were made available as we committed ourselves to demonstrating the love of our Saviour, Jesus Christ, to every member of our community and basically anyone we came in contact with. This usually involved direct activities and charity. However, on other occasions we deployed indirect means by working with other charitable organisations that we partner with. Our charitable acts and activities are usually done through giving, in kind and in cash.

Our activities that were initially and usually focused at the people in our immediate surroundings, have now extended into the wider world. All thanks to the COVID-19 pandemic..

Moreover, in the year under review, we worked very hard to give moral and financial support to many members of our community who fell into difficult times as a result of the pandemic. We nevertheless ensured that processes of due diligence were reasonably observed before disbursements were made. Again, we are glad to have been ina position to be able to help our people through very difficult times and circumstances. Our welfare support figures are always an attestation to this fact.

The contribution of volunteers during the year.

The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work, community care activities especially during the peak of the pandemic and the administration of resources. It is estimated that over 10,500 volunteer hours were provided during 2021. If this is valued at £7.50 an hour, the volunteer effort amounts to over £78,750.

Plans and development for the future

“The Emerald Church,” our church for young adults in our community that we started in 2018, continues to thrive. Most of their meetings and programmes continued to be conducted virtually. They have now returned to physical services on Sunday.

Our goal remains that this church will transform and evolve into a forum that would minister to this group of people, not only within our local community, but also extending to other parts of our wider community.

Our mission outpost in Canada (RCCG Destiny Sanctuary) was seriously affected by the pandemic. Although they maintained their existence all through the year by their virtual meetings and programmes, their erstwhile financial strength took a hit. Our charity had to provide all the required and necessary financial support to sustain the mission work.

Significant amount of funds have been expended in order to cater for the missionary (pastor-incharge) and pay for other ongoing expenses connected to the survival of the parish. We are glad to report that the church is surviving and the missionary was never stranded financially. Moreover, the missionary’s wife and son have now joined him and they have now settled well. We are very hopeful that the story for this mission work will continue to change for the better in the coming year.

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Redeemed Christian Church of God (RCCG) Victory Centre

Trustees’ annual report for the year ended 31 December 2021

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

The management of the church is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed.

The policies and procedures for the induction and training of trustees.

The induction process for any newly appointed trustees comprises an initial meeting with the Chair and other trustees, followed by a series of short meetings with the minister in charge on the powers and responsibilities of the trustees.

The charity's organisational structure.

The church (the charity) is organised so that the trustees meet regularly and at times, on an ad-hoc basis, to manage its affairs.

How the charity makes decisions and how decisions are delegated.

The day-to-day activities is managed by the minister-in-charge who is also the Chief Executive. Officer of the charity.

The charity as a part of a wider network.

The church is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an “Agreement for Common Purposes".

Financial review

The charity's financial position at the end of the year ended 31 December 2021

The financial position of the charity at 31 December 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

----- Start of picture text -----
|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Net income|13,645|19,697| |Unrestricted|revenue|funds|available|for| |the|general|purposes|of the|charity|223,545|209,900| |Total|funds|223,545|209,900| |Financial review of the position|at the|reporting|date,|31|December 2020.| |During|the|year,|income|of £268,964|(£256,635|in|2020) was|received|as|voluntary|donations.|The| |net|income|for the|period,|as shown|in|the|statement|of financial|activities,|for the|period was|a| |surplus|of £13,645|(£19,697|in|2020).|The|value|of the|Redeemed|Christian|Church|of God| |(‘RCCG')|Victory|Centre|net assets|as|at 31|December 2021|is £223,545|(£209,900|in|2019).|

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Redeemed Christian Church of God (RCCG) Victory Centre

Trustees' annual report for the year ended 31 December 2021

Policies on reserves

Restricted funds are to be used for specific purposes as specified within the objects of the charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs.

Unrestricted funds are donations and other incomes received or generated for the objects of the charity without further specified purpose and are available for general funds.

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the church should be 3 months of annual expenditure.

investment policy

The trustees have decided that at present, funds should be retained in bank. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

Principal funding sources

This is provided through voluntary tithes and offerings by the church members and the gift aid scheme. Pledges are also taken for specific projects.

Details of the independent examiner

Mr Adeniyi Zaccheus Chartered Certified Accountant 4A Town Square Erith Kent DA8 1RE

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Redeemed Christian Church of God (RCCG) Victory Centre Trustees’ annual report for the year ended 31 December 2021

Statement of trustees’ responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

• to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

• select suitable accounting policies and apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are also responsible for the contents of the trustees’ report, and the statutory responsibility of the Independent Examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

This report was approved bf the board of trustees on 22 March 2022.

Mr David Afolarin Yomoh Trustee

Redeemed Christian Church of God (RCCG) Victory Centre

Report of the independent examiner to the trustees of the charity on the accounts for the year ended 31 December 2021

| report to the trustees on my examination of the financial statements of the charity on pages 10 to 13 for the year ended 31 December 2021 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) adapted to meet the needs of unincorporated organisations, as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 14.

Respective responsibilities of the trustees and the independent examiner and the basis of the report

As described on page 7, you, the charity's trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smalier entities, and for being satisfied that the financial statements give a true and fair view. The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act: b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of independent examiner's statement and scope of work undertaken

Since the charity's gross income exceeded £250,000, the charity's examiner must be a member ofa body listed in section 145 of the Act. | confirm that | am qualified to undertake the examination because | am an authorised member of insert the type of the professional body (e.g. Chartered Certified Accountants or Chartered Accountants etc ) on data sheet row 33, which is one of the listed bodies.

| report in respect of my examination of the charity's financial statements carried out under $145 of the Act. In carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

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Redeemed Christian Church of God (RCCG) Victory Centre

Consequently, | do not express an audit opinion on the view given by the financial statements, and in particular, | express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below. | planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report | obtained written assurances from the trustees of all material matters.

independent examiner's statement, report and opinion Subject to the limitations upon the scope of my work as detailed above, | have completed my examination: and can confirm that:-

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011; the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view, which is not a matter considered as part of an independent examination;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after ist January 2019), (The SORP).

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr Adeniyiee

Chartered Certified Accountant Crownwise Consult Limited 1A Town Square Erith Kent DA8 1RE

This report was signed on 22 March 2022.

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Redeemed Christian Church of God (RCCG) Victory Centre - Statement of Financial Activities for the year ended 31 December 2021

Statement of Financial Activities for the year ended 31 December 2021

	Notas	Currentyear Unrestricted Funds	Current year Restricted Funds	Currentyear TotalFunds	PriorYear Total Funds
		2021	2021	2021	2020
		£	£	£	£
Income
Donations& grants Investmentincome	20 21	242,764 25,400	- -	242,764 25,400	255,835 800
Otherincome	22	800		800	-
Total income		268,964	-	268,964	256,635
Expenditure on: Charitable activities	26	255,319	-	255,319	236,938
Total expenditure		255,319	-	255,319	236,938
Netincome fortheyear		13,645	-	13,645	19,697
Netincome aftertransfers		13,645	-	13,645	19,697
Netmovement in funds		13,645	-	13,645	19,697
Reconciliation of funds:-
Totalfunds broughtforward		209,900	-	209,900	190,203
Totalfunds carried forward		223,545	-	223,545	209,900
The'SORP Ref indicated above is the classification ofincome set out in the formal SORP documents. As required by paragraph 4.60 oftheSORP, thebrought forward and carried forward funds above have been agreed to the Balance
Sheet.
Aseparate StatementofTotal Recognised Gains and Losses			is not required as	this statement includes all recognised
gainsandlosses.

All the prior year transactions were unrestricted items, and no further analysis is required

Ail activities derive from continuing operations.

The notes attached on pages 14 to 22 form an integral part of these accounts.

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Redeemed Christian Church of God (RCCG) Victory Centre - Statement of Financial Activities for the year ended 31 December 2021

Resources applied in the year ended 31 December 2021 towards fixed assets for Charity use:-

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |£|3| |Funds generated|in|the year as|detailed|in|the SOFA|13,645|19,697| |Resources|applied|on|functional|fixed|assets|(17,572)|(9,811)| |Net resources|available|to fund|charitable|activities|(3,927)|9,886|

----- End of picture text -----

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.

Movements in revenue and capital funds for the year ended 31 December 2021

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|||||||| |---|---|---|---|---|---|---| |Revenue|accumulated|funds| |Unrestricted|Restricted|Total|Last year| |funds|funds|funds|total|funds| |2021|2021|2021|2020| |£|£|£|£| |Accumulated|funds|brought forward|209,900|-|209,900|190,203| |Recognised|gains|and|losses|before| |transfers|13,645|-|13,645|19,697| |223,545|-|223,545|209,900| |Closing|revenue funds|223,545|-|223,545|209,900| |Summary of|funds|Unrestricted|Restricted|Total|Last year| |and|funds|funds|total|funds| |Designated|funds| |2021|2021|2021|2020| |£|£|£|£| |Revenue|accumulated|funds|223,545|-|223,545|209,900|

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The notes attached on pages 14 to 22 form an integral part of these accounts.

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Redeemed Christian Church of God (RCCG) Victory Centre - Statement of Financial Activities for the year ended 31 December 2021

Income and Expenditure Account for the year ended 31 December 2021 as required by the Companies Act 2006

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Income| |Income from|operations|242,764|255,835| |investment|income|and|interest| |income|from|investments,|other|than|interest|receivable|25,400|800| |Other|operating|income|800|-| |Gross|income|in|the year|before exceptional|items|268,964|256,635| |Gross|income|in|the|year|including|exceptional|items|268,964|256,635| |Expenditure| |Charitable|expenditure,|excluding|depreciation|and|amortisation|222,927|206,066| |Depreciation|and|amortisation|24,037|19,772| |Governance|costs|3,000|3,000| |interest|payable|5,355|8,100| |Total|expenditure|in the year|255,319|236,938| |Net income|before|tax|in|the|financial|year|13,645|19,697| |Tax|on|surplus|on|ordinary|activities|-|-| |Net income|after tax|in|the|financial|year|13,645|19,697| |Retained|surplus|for the|financial|year|13,645|19,697|

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All activities derive from continuing operations.

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 14 to 22 form an integral part of these accounts.

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Redeemed Christian Church of God (RCCG) Victory Centre - Balance Sheet as at 31 December 2021

	Notes		2021		2020
			£		£
Fixed assets
Freehold assets	9		547,866		562,679
Tangible assets	10		19,731		11,383
Total fixed assets			567,597		574,062
Current assets
Debtors	11	37,194		9,394
Cash at bank and in hand		3,447		22,202
Total currentassets		40,641		31,596
Creditors: amounts falling due within oneyear	12	(63,882)		(46,743)
Net currentassets			(23,421)		(15,147)
Net assets			544,356		558,915
Creditors: amounts falling due after more thanone year	13		(320,811)		(349,015)
The total netassets ofthe charity			223,545		209,900
The total net assets ofthe charity arefunded by thefunds ofthe			charity, asfollows:-
Unrestricted funds
Unrestricted revenue funds	14	223,545		209,900
			223,545		209,900
Totalcharityfunds			223,545		209,900

The 'SORP Ref indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

The charity is subject to independent examination under charity legislation, and the report of the independent examiner is on pages 8 and 9.

The trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. Trust Approved by the board oX trustees on 22 March 2022.

The notes attached on pages 14 to 22 form an integral part of these accounts.

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Redeemed Christian Church of God (RCCG) Victory Centre

Notes to the Accounts for the year ended 31 December 2021

• 41 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective ist January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Going concern

The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 December 2020, the trustees are satisfied that, at the time of approving the financial statements, itis appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.

Risks and future assumptions

The charity is a public benefit entity.

The trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The church is covered by a Church & Congregation insurance policy and this covers a number of risks including: building & contents, income and financial risks, trustees’ indemnity, fire & theft, employers’ all risks, etc.

Policies relating to categories of income and income recognition.

Nature of income

This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

Categories of income

Income is categorised as income from non-exchange transactions (gifts), investment income and other income.

income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

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Redeemed Christian Church of God (RCCG) Victory Centre

Notes to the Accounts for the year ended 31 December 2021

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised whena legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 6.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

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||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Depreciation|has|been|provided|at the|following|rates|in|order|to|write|off the|assets|to|their|anticipated|residual|value| |over|their|estimated|useful|lives.| |Freehold|property|2|%|straight|line| |Office|equipment|33.33|%|straight|line| |Fixtures|and|fittings|12.5|%|straight|line| |Music equipment|33.33|%|straight|line|

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Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Cash and bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

15

Redeemed Christian Church of God (RCCG) Victory Centre

Notes to the Accounts for the year ended 31 December 2021

2 Liability to taxation

The trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the statement of financial activities.

3 Winding up or dissolution of the charity

3	Winding up or dissolution of thethe charity	Winding up or dissolution of thethe charity	Winding up or dissolution of thethe charity
	Ifuponwinding up or dissolution ofthe charity there remain any assets, afterthe satisfaction of all debtsand liabilities, the assets represented by the accumulated fund shali be transferred to some other charitable body or bodies having similar
	objects to the charity.
4	Netsurplus before tax in the financial year	2021 £	2020 £
	The net surplus before tax in the financial year is stated after charging:- Depreciation ofowned fixed assets Depreciation and amortisation offreehold assets	9,224 14,813	4,959 14,813
5	Interest payable	2021	2020
		£	£
	Finance charges - BBL Finance charges - creditcard	4,245 428	417 7,683
	Finance charges - loan	3,682	-
		5,355	8,100

6 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration. it is estimated that over 8,500 volunteer hours were provided during 2019. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of financial activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

7	Staffcosts and emoluments	2021	2020
		£	£
	Gross salariesexcluding trustees and key managementpersonnel Employer's national insurance for all staff	79,144 4,209	80,947 4,114
	Total salaries,wages and related costs	83,353	85,061
	The numberofemployees whoseemoluments including taxable benefits butexcluding
	employer's pension contributions fall into the following bandswere :-
		2021	2620
		ca	£
	£60,001to£70,000	4	1

16

Redeemed Christian Church of God (RCCG) Victory Centre

Notes to the Accounts for the year ended 31 December 2021

8 Remuneration and payments to trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

9 Freehold assets included in the accounts

				Total of	Total of
		Atcost	Atvaluation	valuation	valuation
				and cost	and cost
		2021	2021	2021	2020
		£	£	£	£
	Cost
	At1January 2021	740,647	-	740,647	740,647
	At 31 December 2021	740,647	-	740,647	740,647
	Depreciation
	At 1 January 2021	177,968	-	177,968	163,155
	Charge for the year	14,813	-	14,813	14,813
	At 31 December 2021	192,781	-	192,781	177,968
	Net book value	547,866	-	547,866	562,679
10	Tangible fixed assets	Fixturesand	Office	Music	Total
		fittings	equipment	equipment
		£	£	£	£
	Cost
	At 1 January 2021	20,658	31,287	34,384	86,329
	Additions	-	14,900	2,672	17,572
	At 31 December 2021	20,658	46.187	37,056	103,901
	Depreciation
	At 1 January 2021	18,609	30,802	25,535	74,946
	Charge for the year	256	5,128	3,840	9,224
	At 31 December 2021	18,865	35,930	29,375	84,170
	Net book vaiue
	At 31 December 2021	1,793	10,257	7,681	19,734
	At 31 December 2020	2,049	485	8,849	11,383
11	Debtors			2021	2020
				£	£
	Accrued income			24,200	-
	Other debtors			12,994	9,394
				37,194	9,394

17

Redeemed Christian Church of God (RCCG) Victory Centre

Notes to the Accounts for the year ended 31 December 2021

12	Creditors: amounts falling due within one year			2021	2020
				£	£
	Bank loans and overdrafts			25,971	26,180
	Accruals			5,953	4,295
	PAYE, NIC VAT and other taxes			5,897	3,941
	Other creditors			26,061	12,327
				63,882	46,743
13	Creditors: amounts falling due after one year			2021	2020
				£	£
	Bank loans and overdrafts			320,811	337,697
	Other creditors			-	11,318
				320,811	349,015
14	Income and expenditure accountsummary			2021	2020
				£	£
	At 1 January 2021			209,900	490,203
	Surplus after taxforthe year			13,645	19,697
	At 31 December 2021			223,545	209,900
15	Particulars ofhow particularfunds are represented	by assets and	liabilities
	At31 December 2021	Unrestricted	Designated	Restricted	Total
		funds	funds	funds	funds
		£	£	£	£
	Freehold property	547,866	-	-	547,866
	Tangible fixed assets	19,731	-	-	19,731
	Current assets	40,641		-	40,641
	Current liabilities	(63,882)	-	-	(63,882)
	Long term liabilities	(320,811)	-	-	(320,811)
		223,545	-	-	223,545
	At 1 January 2021	Unrestricted	Designated	Restricted	Total
		funds	funds	funds	funds
		£	£	£	£
	Freehold property	562,679	-	-	562,679
	Tangible fixed assets	11,383	-	-	11,383
	Current assets	31,596	-	-	31,596
	Current liabilities	(46,743)	-	-	(46,743)
	Long term liabilities	(349,015)	-	-	(349,015)
		209,900	.	-	209,900

18

Redeemed Christian Church of God (RCCG) Victory Centre

Notes to the Accounts for the year ended 31 December 2021

46 Change in total funds over the year as shown in Note 15, analysed by funds

	Funds		Transfers	Funds
	brought	Movement in	between	carried
	forward from	funds in	fundsin _forward to
	2020	2021	2021	2022
	£	£	£	£
Unrestrictedanddesignatedfunds:-
Unrestricted revenue funds	209,900	13,645	-	223,545
Total unrestrictedanddesignatedfunds	209,900	13,645		223,545
Tota! charityfunds	209,900	13,645	-	223,545
Analysis ofmovements in funds overthe yearasshown in Note		16
			Other
	Income	Expenditure	Gains &	Movement
			Losses	in funds
	2021	2021	2021	2021
	£	£	£	£
Unrestrictedanddesignatedfunds:-
Unrestricted revenue funds	268,964	(255,319)	-	13,645
	244,764	(255,319)	-	13,645

17 Analysis of movements in funds over the year as shown in Note 16

48 The purposes for which the funds are held by the charity are:-

Unrestricted and designated funds:-

Unrestricted revenue funds

These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.

19 Ultimate controlling party

The charity is under the control of its legal members.

19

Redeemed Christian Church of God (RCCG) Victory Centre

Detailed analysis of income and expenditure for the year ended 31 December 2021 as required by

the	SORP 2015
20	Donations and grants	Currentyear	Currentyear	Currentyear	Prioryear
		Unrestricted	Restricted	Totalfunds	Totalfunds
		funds	funds
		2021	2021	2021	2020
		£	£	=	£
	Donations and gifts from individuals	222,641	-	222,641	214,982
	Total donations and gifts from
	individuals	222,641	-	222,641	214,982
		Currentyear	Currentyear	Currentyear	Prioryear
		Unrestricted	Restricted	Totaifunds	Total funds
		funds	funds
		2021	2021	2021	2020
		£	£	£	£
	Revenue grants from government	20,123	-	20,123	40,853
	Total revenue grants from government	20,123	-	20,123	40,853
	Total donations and grants	242,764	-	242,764	255,835
21	Investment income	Current year	Current year	Currentyear	Prioryear
		Unrestricted	Restricted	Totalfunds	Totalfunds
		funds	funds
		2021	2021	2021	2020
		£	£	£	£
	Property rental income	25,400	-	25,400	800
	Total investment income	25,400	-	25,400	800
22	Other income	Currentyear	Currentyear	Currentyear	Prioryear
		Unrestricted	Restricted	Totalfunds	Totalfunds
		funds	funds
		2021	2021	2021	2020
		£	£	£	£
	Sundry otherincome	800	-	800	-
	Totalotherincome	800	-	800	-

20

Redeemed Christian Church of God (RCCG) Victory Centre

Detailed analysis of income and expenditure for the year ended 31 December 2021 as required by

the SORP 2015

23 Expenditure on charitable activities - Direct spending

	Current year	Current year	Current year	Prioryear
	Unrestricted	Restricted	Totalfunds	Total funds
	funds	funds
	2021	2021	2021	2020
	£	£	£	£
Gross wages and salaries - charitable
activities	79,144	-	79,144	80,947
Employers’ NI - Charitable activities	4,209	-	4,209	4,114
Travel and Subsistence - Charitable
Activities	3;/36	-	3,736	2,994
Welfare	13,633	-	13,633	20,152
Donation	21,448	-	21,448	10,493
Pension	4,782	-	4,782	4,782
Honorarium	10,050	:	10,050	9,900
Mission Field - Canada	15,907	-	15,907	41,706
Music and event	-	-	-	3,708
Total direct spending	152,909	-	152,909	148,796
Support costs for charitable activities
	Current year	Currentyear	Currentyear	Prioryear
	Unrestricted	Restricted	Totalfunds	Total funds
	funds	funds
	2021	2021	2021	2020
	£	£	£	£
Employee costs not includedin direct costs
Training and welfare - staff	300	-	300	4,200
Payroll fees and charges	2,947	-	2,947	3,145
Life insurance	237	-	237	237
Premises expenses
Rates and water charges	1,752	-	1,752	2,759
Rent of premises	16,500	-	16,500	16,500
Light heatand power	1,923	-	1,923	3,559
Cleaning and waste management	1,419	-	1,419	2,379
Premises repairs, renewals and
maintenance	13,102	-	13,102	495
Property insurance	2,577	-	2,577	2,742
Administrative overheads
Telephone, fax and internet	1,902	-	4,902	2,913
Books, tapes, and CDs	715	-	715	1,447
Stationery and printing	400	-	400	198
Entertainment	1,780	-	1,780	-
Subscriptions	1,155	-	1,155	1,580
Sundryexpenses	13,267	-	13,267	2,846

24 Support costs for charitable activities

21

Redeemed Christian Church of God (RCCG) Victory Centre

Detailed analysis of income and expenditure for the year ended 31 December 2021 as required by the SORP 2015

Professional fees paid to advisors other than the auditor or examiner

Professional fees	1,810	-	1,810	6,520
Consultancy fees	500	-	500	-
Financial costs
Bank charges	497	-	497	813
Mortgage expenses	7,235	-	7,235	7,937
Finance charges - BBL	1,245	-	1,245	417
Finance charges - credit card	428	-	428	7,683
Depreciation & Amortisation in total for	24,037	-	24,037	19,772
Finance charges - loan	3,682	-	3,682	-
Support costs before reallocation	99,410	-	99,410	85,142
Total support costs	99,410	-	99,410	85,142
Other expenditure - Governance costs
	Currentyear	Current year	Current year	Prioryear
	Unrestricted	Restricted	Totalfunds	Total funds
	funds	funds
	2021	2021	2021	2020
	£	2	£	£
Independent examiner's fees	3,000	-	3,000	3,000
Total governance costs	3,000	-	3,000	3,000
Total charitable expenditure
	Current year	Current year	Current year	Prioryear
	Unrestricted	Restricted	Totalfunds	Total funds
	funds	funds
	2021	2021	2021	2020
	£:	£	£	£
Total direct spending	152,909	-	152,909	148,796
Total support costs	99,410	-	99,410	85,142
Total governance costs	3,000	-	3,000	3,000
Totalcharitableexpenditure	255,319	-	255,319	236,938

25 Other expenditure - Governance costs

26 Total charitable expenditure

22