Reglstered Chorfty No. 1101294 THE REDEEMED CHRISTIAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS Report and Flnanclal Slatement for Ihe Year Ended 31 March 2022 JUBILEE HOUSE FOR ALL NAlloNS Year Ended 31 March 2022 REPORT AND FINANCIAL STATEMENTS CONT NT PAGE REPORT OF THE BOARD & STATEMENT OF BOARD'S RESPONSIBUTIES INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEEr NOTES TO THE FINANCIAL STATEMENT 9-13 THE REDEEMED CHIIISTIAN CHURCH OF GOD JUBILEE HOUSE Folt ALL NAnONS Report of th• Twsl•es for lh• yoar ended 31 March 2022 BOARD MEMBERS. OFFICERS. ADVISERS AND BANKERS G•neral Ov•rse•r Pastor E A Adeboye Twste•slDlreclo The TrusteeslDireclors who served during Ihe perfod were os follows." Pst. Oluwoloyin Onobanjo PSI. Gloria Piper Dcn. Sam50n Ayotunde Alolabi Mr John Adekunle Adeoye Mr Emmanuel George Mr Ttmolhy Olatunde S•nlor past￿ In Chawg• Postor Mary.0. Afolot Chaty S•¢rekny Elder Koyode Oshryemi C¢xr•$pondenc• Addr•u Delectlon House Units 4 &5. Brooklond Approach Romford RMI IDX AccountaTrts Da-silva & As50cioles Limlled Chartered Certified Accounlonts 14 Form Close Dogenham RM109TX Bank•rs Lloyds Bank PIC Sedgemoor Hovse Taunton TAI 2UF stotulory RegI￿0Th Registered with Chority Commission Chaiity Number 1101294 THE REDEEMED CHRISTIAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS Year ended 310 March 2022 Report of Ihe Trustees -Conffnued The Trustees presenl Iheir repLYP along wtth the financial slotement of Ihe charity for the year ended 31st March 2022. The Finoncial Slotements have been prepared on the accounting policies set out in the notes. The Financial Slalements comply witt) the Charity Act 2011. charrty'5 goveming document. applicable low. and requirements of the Statement of Recommended PTocfice- Accounting and Reporting by Charilies: SORP applicab￿ to charilies prepaiing thelr accI￿nts in occordance with FRS 102. STRUCTURE GOVERNANCE AND MANAGEMENT The Redeemed Chrislion Church of God IRCCGI Jutslee House for All Notions registered charity Inumber I l QI 294) The main objective5 of the Chority are Ihe odvancement of the Chrfstion faith in occordance wilh our statement of failh and the relief of poverty. Organlzallon and 5truclvre The management of this Chority is the responsibility of the Boord of Trustee5. Who have who have been co-opted for the￿ skills and experience in chvrch leadership. Tiustees ar8 required to ollend induction and onnual trainlng in order to keep up to date. Th6 day to day running of this Chority ts the responsiblity of the Senlor Postor,. She ' aSSi5ted by a Council of minist￿5 and church dder5. whom she delegates respon5ibililies loo regulaty. They meet occosionalty in the yeor lo revrew the octivities of the church and to make decisions on oll crucial matters. Grant Moklng Pollcy The Church in accordance with the agreemenl of common purposes signed with RCCG UK is mandated to make a regular conlribvtion towords RCCG COF. RCCG WEM, the Festival of tife ond othei worl¢JWide and national acltvities organrled by RCCG Central. THE REDEEMED CHRlSllAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS Year ended 31 # March 2022 Report of the Trustees -Contlnved Reserve Pollcy It is the poficy of the Charity to retoin enovgh funds ot a level enough to cover baslc operational costs and Ihe remainder of the reSe￿e is expended on the objecllves of the charity or retoined for futvre plans. Rtsk Managem•nt The trustees have a risk monagemenl strategy in place which comprises.. An annuol review of the principol rtsks and uncertainti65 that the charity faces. The establishment of policies, systems. confro15, ond procedures to mitigate those risks identified in Ihe annval review Strategic and operalionol plons ond on annuol budget. ond progress reporting agalnst plans and budget The implementolion of procedures designed lo minimize or manoge ony potentiol impacl on the charity should Ihose ￿kS materiallze. Hnanclal Revlew The Charfty's financiol slalement for the yeor ended 3151 March 3)22: shows a net deficit of1£4,9901, Iln 2)21- net deficll of £5.6911 Reserved ale required in the evenl ol posslble emergencies ond in order to e￿Ure all unexpected contingencies are adequately funded. Volunteers Today Ihi5 charity conlinves in the work of advancing Ihe Christian faith in England ond Woles because of Ihe infringlng commitment of oll our volunteers. for which we ale entirety thankful to God. All Ihrough the year. our members have supported the church voluntarily in ovr times ot challenge ond towards achieving ihe objectives of the Charity. Publlc Benefft RCCC Jubilee House for AU Notron5 ensure that ON Iher oclivilies ore ptonned and designed for the benefit of the public and in line wilh Chcxity's otiec15 of advancement of Christian foith and the refief of poverty. The board of trustees ensures church take account of the Charity commi55ion's guideline on public benerrts in ther planning and (Jeci5ion making. THE REDEEMED CHRisnAN CHURCH OF GOD JUBILEE HOUSE FOR ALI NATIONS Yeor ended 3151 March 2022 Report ol the Trustees -Conllnued Slatemenl ol Trustees ResponslbHllles Chority ￿ reqvirés tho Tivste8S to prepcye Ihe Finoneiol Stotemènts f￿ 80ch financiol yeor which 9N￿ o true and lor of the stale of financiol ollays ol the Chority during the year and ol its fnancol posilion at Ihe end ol the year. In preporing those Financiol Statemènls. Ihe Trustees ore requ*ed lo: a. Select suitable accounting pob'cies ond apply Ihem con5iStenlly Ihrovgh Ihe year b. Moke judgments and eslinoles thal cye re050notle ond w¢Jent c. Slale whether applicoble Accounting Slandards hove been lollowed, subject to ony moteriol depart￿e5 Ihot should be di5dosed and eypk)Ined in the FinancKJl Slolements. d. Prapare the Finonciol Slolernents on the go￿￿ col￿eM bosls unle55 il inoppropriale to presume that Ihe Trusl will conlinue in operatlon. e. The Trustees have overal responsbi iEty for ensuiing tt¥Jl Ihe chority has on oppropriale syslem conltol. fwncid ond 01h￿ise. We are responsib￿ Icx keeping proper ￿cOun1￿19 re¢￿d5 which rfisdose witt) reasonable accurocy at any time Ihe finonciol p05ilion ol Ihe Charily ond enoble5 them lo ensure thal Ihe Finonck31 Slalemenls corrply wilh the Chariliès Act 2011. We ore olso responsible for safegu￿dIng Ihe Assets of the Chority and for toking oson0b￿ 51eps Ihe k¥8ventK)n deteclion ol froud and olher ￿eQU￿11￿$. Thts rep¢)rt was approved on behall of Ihe board of Tnjslees on.. Poslor Oluwotown P. Trustee Independent Examlner's Report to the Tnistees of ThE REDEEMED CHRisllAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS We report on the accounts Oftt￿ Redeemed Christian Church of (>)d fRCCG?- Jubilee House for the year ended 31 Marth 2022. *thich are set wt on pages 7 to 13. Re8pectl¥e rnspon8lblllUo1 of truBtox and •xamln•r The Iruslees (who are also the direc￿ of the comp8ny forthe pwkM)ses of eunpany law) are re8ponsibEe for the preparabon of the accounts. The trustees tt￿ider that an audit 1$ not requirod for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an ir)dependent examinat*on 1$ neede41. Having satisfied my3eW that the d￿rity 18 SLkniect to a￿lit urthr company law and b eliglth for Independent examinab'on. It is my responsibilrty to-. examine the a¢Gount under Isect￿n 145 of the 2011 Actr, lo foll¢Ming the pr￿ed￿M laid the general DiTe¢tk)ns glven by thg Charity Commission under Wtion 14515llbl of the 2011 A¢t', and to state whether particular matter3 have come to my attentK Ba•ls of Ind•pend•rt ex•mln•rfs ff1￿rt My examinadon wrled tyjt In *cordan¢e ¥￿th the General tlrfions given by thè Charty Commi$8ion. An ¢xamlnation includes a of the a¢counbng records kept by the Chartty and a comparison of the accounts presented with those re￿￿$. 11 al80 [￿ludeS consideration of any unusual Itèm8 or disclosure$ in the accounts, and 8eekirth3 eXpla￿lOn5 from the Iruslees conceming any such mattefs. The prmlures undertaken do rnl provide all thè eVIder￿ that would b• required in an audit and ￿SequenttY no opniLM is given as lo whether the accounts present 8 true and fair view and therefore is lknited to those matters ￿ out in the statsment bekAv. Ind•pgnd•nt ¨n•rf¥ •lat•m•nt In connectlon with my examinalion, no matter has come to my atterrtion.. 111 which gives me reasonable ￿￿Se to beI￿ve that, in any material re8pect the rwuirements.. to keep accounts"n9 re¢ofds in aGcordance wrth SeCt￿n 386 of the Companies Ad 2008.. and to prepare accounts whth a¢￿d wrth the accountiThJ rec¢xds, comply with the accounting requirements ofthe SeCtK￿ 386 ofthe Companies A¢1 2006 and ¥￿th the methods and prino'ples of the Statsment of Recom￿ Pra(tse: ACC￿jn￿ng aTrJ Repoting by Chartties {2) to which. in my opinion. attention slwkl be drw••n in orderto enable a woper underytsnding of the accLwnt$ to be reached. Mr3 Eileen Da4ilva", FCCA MBA BA Da-silva & Associates Ltmited Chartered Certffied Accounlant 14 Fann Close, DagenPJam, RM10 9TX 2022 THE REDEEMED CHRISTIAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS STATEMENT OF FINANCIAL AcnviTIES FOR YEAR ENDED 31 MARCH 2022 2022 2021 Notes Unreslrfcled Unrestricted Fund Fund Income Donations and Legacies 119.746 131,031 Expendllure on Charilable expenditure: Grants and donation Activities for charitable objectives Support costs Management and administration Total Expendlture 12.176 56.378 29,524 26.718 19,686 62,339 23,086 31,611 124.736 136,722 Nef lexpenditure)/income (4,990) {5.691) Total Funds brought forward 36,443 42,134 31.453 36,443 THE kEDEEMED CHRISTIAN CHUICH OF GOO JUJILEE HOUSE FOR ALL NAnoMs aAIANCE SHEEI AS AT 31 MARCH 2022 2021 Rxtd ass*ls Tongitje fNed 055ets Noles 2.665 CuTh•nl oll•ts Accounts r6c•vatsle Cosh 01 bonk 24.094 72.904 21.7Q) 22.978 36.918 44.678 Ci•dll¢Jrn amou￿ th• on• yeai ?.093 10.90) Nel evTh•ftl {labMesllau•ts Tolal o5sets kns cthY•nl ltslths 27.W5 33.778 31.453 36.443 31.453 36,4 Incpme Fvnd5 Unie51ricled Fvnd> Generul Fwds 10 31,453 36.443 Apryovod on behdl ol the bc*yd ol Iw51ees on 11 2023 . Poslor OILMfoloyn P. OnotrK)ryo TnMle• THE REDEEMED CHRISTIAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS Year ended 31 March 2022 l. Accounllng polky The principal accounting policies. oll of vthich have been applied con5iStently throughout the year. are set out below: Scope and bosls of the flnanclal statements a) Convenllon These financial slatemènts have been wepared in aCCLYdance with the Finoncial Reporting Stondord oppllcable in the UK and Rewblic of Ireland IFRS 1021 (effective l JonL•Ory 20151. The Chority is a public benefit entity for the purp058s of FRS 102 ond therefore hos also preFXJfed Ihe financial statements in accordance wth the statement of Recommended Practice opplicable to Cr￿ntieS preporing their accounts in accordance wtth thefinoncial Rewling Stondard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORPI and thecompany Act 2CX)6 and Charities Act 2011. b) Donallons & Ltyacles Voluntary income is received by woy of donalions. legacies and gifts and is included in full in the slatÈmenl of financiol oclivlties when receivable. Volunteer time is not Included in the financial slatements. c) Grants and CommIs￿Oned Servlces Income i•cognlNon Income from grants and commissioned services is recognised in full in Ihe statement of financiol activities in Ihe year in which the income is receivable d) Rental Incom• recognlllon Rental income Is included in lull in Ihe stolement of financial activities when receivable. Contractual and fee income is recognised in the financial statement5 to the extent that enfitlement had been eamed at the year end through performance of the conlracl. THE REDEE41ED CHRISTIAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NAIIONS NOTES TO THE FINANCIAL $TATEMEP4fS Ywr ended 31 M￿h 2022 •) DaleTr•d In¢orn• Where uncondition¢Jl enlFtlement lo income receivable is dependent upon ftjlfilment of conditions within the charivs control. the income is recognised when there is suifici6nt evtdence Ihal condilions wll be rnet.Whefe Ihere i5 uncertointy as lo whether th& chority can meet such Ci)ndrlions the income is daferTed. Fvnd accounllng Generol funds org unrestrfcted funds which ore ovailable tor vse al Ihe dscretion of the Irvslees in lurtheronce ol the generol objectives of the p0ri5h and which hove not been designaled for other purposes. ) Incon4ng r•sowces All income is occcyJnled f￿when Ihe Chority h05 entitlement to the ￿nds. tho amount can be quonlified ond there is certainty of feceipt. h) R•sour¢•s •xp•nd•d AJI expendilura is occ¢xJnled fc*on accrvol bosts and has been Inclvded vnder expense caleg¢yies Ihol aggregate all costs lor oUocotion lo oclivilie$. Where costs cannot be directy ottribuled lo particular oclivities they hove beenallocaled on a bosis consistent the use of the r6s¢xJrce5. &onl payoble ore chorged in th¢ yeor when the ofler is mod8 except in thos& coses where the offer is Conditior￿1. such gronls belng Tecognlsed as expendilure when the conthtions attached ore fulfillad. Gran15 offered wbjecl to conditlons which hove not been mal ot the year end aro noted as o commilmenl, but not occrued 0$ expendilLKe. l) Cash ilow The finoncial slolements do r￿1 include a cosh flow slolem&nl because the ehurch, as a small reporting entity. 15 exempt from the iequiremenl lo prepore such a 51atemenl under the ffnanciol Reporting Stondord I￿sMaller Entilie5 leffectlve Jun8 2(X)21. J) Tonglble fixed *J5sets arrfl d•w•clallon All ossels costing more than ore copilafised. Tangible fLxed 05sels are staled ol eosl and depreeial•d on o straight line basls over their useful economic live5 Os foll Furnilure & ￿tting5 Officelchurch Equipmenl 25% 10 THE REDEEMED CHRISTIAN CHURCH OF GOD JUBILEE HOUSE FOR ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS (Contd) Year ended 31 March 2022 2022 2021 Unrestrfcted Unrestricted Fund Fund 2. Donallons and Legacy Income rithes & Offering Gifl Aid Grants Other Income 98,142 21,344 100.874 19,7CQ 10,000 457 131.031 260 119,746 3 Granls and Donallons RCCG - World Evangelical Mission RCCG - Central Office Fund The National Lottery Community Habilafion of Hope other Grants & Donations 9.726 1200 6.931 1.2CQ 7.955 600 3.000 19.686 600 590 12.116 JUBILEE HOUSE FOR ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS (Conllnued) Yeor ended 31 March 2022 2022 Unresfrlcted Fund 2021 Unrestricted Fund 4. Cost of Actlvllles lor Charflable Objecllve Rent and Service Charge Welfore/Hardship Grant Musical Expenses Honorarium, Giffs & Minislerial Expenses Church Social Events 41.211 4.370 6,200 49,CQO 3,475 5,780 250 3,834 62.339 4.297 56.378 5. Supwl Cost Premises Expenses Business Rates and Charges Power, Gas and other ulilities Repairs, Maintenance & Renewals Telephone Expenses Printing, Stationery & Postage Refreshments 8ank and Credit Charges Travel Costs other Expenses 1.156 1,724 4,735 2,514 750 2.052 3,712 2,270 2,247 1,666 1.719 2.042 251 2,286 4.841 23,086 590 173 4,453 13.385 29.524 6 Management and Admlnlstrallon Legal, Professional and Consultancy Pastorial Care staff and Admin Costs Training and annual conference Costs 3.524 2,140 20.606 449 3.002 7,335 19,955 1.319 26.718 37.611 12 THE REDEEMED CHRisllAN CHUIICH OF GOD JVBIIEÈ HOiI$E FOR ALL P4AIIONS NOIE5 TO IHE RNANCIAL STATEM￿$ (Corthnv•dJ y•￿ •nd•O 31 IA 13