REGISTERED CHARITY NUMBER: 1102624
Report of the Trustees and Financial Statements for the year ended 31 December 2023
For
THE REDEEMED CHRISTIAN CHURCH OF GOD GOD, HRMH
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Contents of the Financial Statements For the year ended 31 December 2023
| Page | |
|---|---|
| Report of the Trustees | 1 - 4 |
| Independent Examiners Reports | 5 |
| Statement of Financial activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 11 |
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Report of the Trustees For the year ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1102624
Principal address
Main Road St. Paul's Cray Orpington BR5 3HQ
Trustees
Osike Itsagwede Chairman Teresa O Okodaso Trustee / Secretary Judith O Phillips Trustee Mylene Williams Trustee
Accountant
Deus Trinitas Consulting Ltd Chatham Kent
Bankers
LloydsTSB plc The Broadway Bexleyheath
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity, Redeemed Christian Church of God, His Royal Majesty House ("RCCG HRMH") is controlled by its governing documents, a deed of trust and constitutes an unincorporated Charity. Decisions are determined by a simple majority vote by the trustees, the trustees set the strategic direction of the charity and authority has been delegated to the Pastoral Board and Administrative team for the day to day running of the operations of the Charity. New Trustees are selected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance to trustees and are given an introduction to the activities of the Charity by the existing board. Existing trustees are provided with training as and when required.
RCCG HRMH is a parish of the Redeemed Christian Church of God - a network comprised of churches all over the world. There is an agreement of common purpose entered into by RCCG HRMH with the Redeemed Christian Church of God which documents this relationship. A summary of transactions with those parties are set out in note 14 to the financial statements.
The trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the charity and its finances. The trustees believe that by monitoring reserve levels, ensuring controls exist over key financial systems and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
Charity number: 1102624
1
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Report of the Trustees For the year ended 31 December 2023
OBJECTIVES AND ACTIVITIES
Objectives and aims
a) The advancement of the Christian faith worldwide, in accordance with the doctrine set out in the statement of faith;
b) To use the excess funds of the charity towards the relief of poverty amongst children, homeless, communities and nations.
Significant activities
The principal activities of the church are:
Christian worship, outreach programmes to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man, spiritually, mentally and physically.
We have one full time staff; one part time staff and numerous number of volunteers who assist in helping us achieve our objectives.
Financial Review
The trustees consider that the charity needs to hold reserves (i.e. unrestricted funds and not represented by fixed assets) equivalent to four months’ operating expenditure to ensure the ongoing delivery of its charitable objects, during unforeseen downturn in income. As of 31 December 2023, the lack of adequate free reserves is attributable to the fact the definition of free reserves excludes fixed assets which is fully paid up. For the purpose of short and medium term financial management, the trustees are more concerned with the management of working capital, the current working capital cover is well below their policy of holding free resources sufficient to fund four months of ongoing unrestricted expenditure which would have covered the eventuality of a material decline in incoming resources.
The charity's principal funding source continues to be individuals who attend services and make contributions in the form of freewill offerings, tithes and special donations.
The charity's result for the year ended 31 December 2023, was a net income of £20,064 (2022: £2,652 net expenditure). As many more members returned to normal services, the charity's finances also began to recover to pre-COVID-19 levels. The total donation received represents a 28% increase from the previous year, and with close monitoring of resources expended the charity reported a net income for the year of £20,064. The trustees' involvement in checking all expenses, and validating and justifying the amount, type and necessity for any expense, has ensured that donations are prudently managed. Total annual income was £134,469 (2022: £104,651).
Activities and Achievements
In compliance with the Charity Commission's public benefit directive, the charity continued to support other charities in areas in line with its objectives including:
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Welfare support - financial and emotional - for families in need both in the church and community;
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Provision of pastoral care for the members and the community;
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Partnering with other Christian agencies and other churches to advance the preaching of the Gospel;
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Provision of special events and meetings to meet the needs of target groups in the church and local youth/teenagers.
Charity number: 1102624
2
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Report of the Trustees For the year ended 31 December 2023
Activities and Achievements (cont'd)
We continued to provide informal counselling services to members of the church and the community irrespective of their race, culture or religious background, albeit predominantly online during the year. The church also acts to sign post members of the community to get professional help where the church is unable to assist through counselling.
The Charity continues to pursue the development of strong families within the community and surrounding areas, and organised annual Women's programme, with invitations extended to women of all ages from the church and the community, addressing issues ranging from parenting, relationship (marital and others), health & mental wellbeing, as well as career development.
We continued our support and encouragement of the youth in the church and the community predominantly online, a trend that has enhanced attendance as such has been retained and would continue for the foreseeable future. The forum encourages them to develop themselves personally, morally, socially and most importantly spiritually. During the year, we were unable to organise any outing due to the pandemic. The church leadership continues to be supportive of the youth and young adults forum, providing a safe environment where they can be confident and free to express their creativity in a God glorifying way.
We continue to support African Missions, an aid and poverty relief agency supporting the underprivileged and children in Africa. We actively and strongly support the World Evangelical Mission which aims to further the Christian faith by alleviating poverty among missionaries globally.
Future Development
The charity is committed to its vision to better serve the needs of the community, and to create better facilities for all our members and the community at large; however as a listed building, the premises suffer from extreme dampness, which is quite expensive to treat and due to continued lack of adequate funding to pay for the refurbishment, we hope to raise building funds from amongst the members for the refurbishment needed. In addition, the trustees are considering applying for funding from organisations that specifically support listed buildings, we are yet to secure interest in the project, especially concerning the roof replacement.
We will continue in our effort to be relevant in the community by investing time, energy and resources in activities and programmes that will prevent and reduce youth crime, teenage pregnancies, depression, homelessness and such social economic vices that are detrimental to the health of our community, which if successful will ultimately strengthen the family unit.
The charity plans to grow its membership and to continue to develop its members to make transformational
changes in their lives, family and the community at large through teaching, coaching and spiritual empowerment.
Charity number: 1102624
3
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Report of the Trustees For the year ended 31 December 2023
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The law applicable to charities in England and Wales, the Charities Act 1993, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the charities SORP; and
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Make judgments and estimates that are reasonable and prudent; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. The trustees 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.
As the charity’s income and expenditure falls below the small charities threshold the trustees considers that the audit requirement of Section 43 (2) of the Charities Act 1993 (the Act) do not apply. The trustees will not be proposing the appointment of an auditor for the ensuing year.
This report was approved by the trustees on 30 October, 2024 and signed on its behalf by:
MR E O ITSAGWEDE
Chairman Board of Trustees
Charity number: 1102624
4
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Independent Examiner’s Report
To the members and trustees of the Redeemed Christian Church of God, HRMH
We report on the accounts of the church/charity for the year ended 31 December 2022, set out on pages 6 to 11 which have been prepared under the historical cost convention and in accordance with the accounting policies set out on pages 8.
Respective responsibilities of the trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2012 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section
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145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of Independent examiner’s report
Our examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts,
and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with our examination, no matter has come to our attention:
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to keep accounting records in accordance with Section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in our opinion attention should have been drawn in order to enable a proper understanding of the accounts to be reached.
Signature Date: 30 October, 2024 Deus Trinitas Consulting Ltd
Charity number: 1102624
5
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Statement of Financial Activities For the year ended 31 December 2023
| Note Incoming Resources Voluntary income 2 Investment income 3 Other incoming resources 4 Total incoming resources Resources used Cost of generating funds 5 Charitable activities 6 Governance costs 7 Other resources 8 Total resources used Net Incoming Resources Transfer between Funds Net Movements in funds Balance Brought forward Balance Carried Forward |
Unrestricted | Restricted | Total Funds | Total Funds | 2022 87,244 5 17,402 |
2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| 2023 114,304 41 20,123 134,468 |
2023 | ||||||||
| fund 112,392 41 20,123 132,556 74,108 16,587 229 23,480 114,404 18,152 - |
fund 1,912 - - |
||||||||
| 1,912 | 104,651 |
||||||||
- - - - |
74,108 16,587 229 23,480 114,404 |
71,587 17,160 - 18,556 |
|||||||
| - | 107,303 |
||||||||
| 1,912 - |
20,064 - |
(2,652) - |
|||||||
| 18,152 300,510 318,662 |
1,912 - |
20,064 300,510 |
(2,652) 303,162 |
||||||
| 1,912 | 320,574 |
300,510 |
All incoming resources and resources expended derive from continuing activities.
The notes on pages 8 to 11 form part of these financial statements.
Charity number: 1102624
6
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Balance Sheet at 31 December 2023
| Fixed Assets Note Tangible assets 10 Current Assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after one year Represented by: Unrestricted funds 12 General Designated Restricted funds 13 |
2023 256,850 256,850 45,869 19,005 64,874 1,150 63,724 320,574 - 320,574 318,662 - 318,662 1,912 320,574 |
2022 261,550 |
2022 |
|---|---|---|---|
| 261,550 25,790 12,757 |
|||
| 38,547 - |
|||
| 38,547 | |||
| 300,510 - |
|||
| 300,510 | |||
298,590 - |
|||
| 298,590 1,920 |
|||
| 300,510 |
The financial statements were approved by the Board of Trustees on October 30, 2024 and were signed on its behalf by:
MR E O ITSAGWEDE Chairman of the Board of Trustees
The notes on pages 8 to 11 form part of these financial statements
Charity number: 1102624
7
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Notes to the financial statements For the year ended 31 December 2023
1. Accounting policies
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value and in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “ Accounting and Reporting by Charities” published in October 2008 and applicable accounting standards.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
When donors specify that donations and grants, including capital grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income will be included in incoming resources of restricted funds when receivable.
Resources expended
Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Cost of generating funds
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the church. These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities.
Tangible fixed assets
Individual fixed assets are capitalised at cost.
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
| of each asset over its estimated useful life. | |
|---|---|
| Annual rate | |
| Freehold / Long leasehold property | 1% |
| Fixtures and fittings | 10% |
| Church & Musical equipment | 10% |
| Motor vehicle and other fixed assets | 25% |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds which has been received from donations or gifts for specific purposes and can only be used for the purpose for which it was given.
Further explanation of the nature and purpose of each fund are included in the notes to the financial statements.
Charity number: 1102624
8
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Notes to the financial statements For the year ended 31 December 2023
| 2. Voluntary income Offering Tithes Other donations 3. Investment income Bank interest 4. Other incoming resources Gift aid income Other Income 5. Cost of generating funds Ground rents Telephone, Electricity & Gas Stationery, Printing & postage Choir/Music Ministry Honorarium Ministers' allowance Rates & Water 6. Charitable activities Central Office support World Evangelical Mission (WEM) Training & Conference Donations - Other ministry 7. Governance costs Professional fees |
2023 13,418 100,886 - 114,304 2023 41 2023 20,079 44 20,123 2023 300 4,436 120 23,900 765 43,500 1,087 74,108 2023 1,200 14,247 - 340 16,587 2023 229 |
2022 14,154 72,855 235 |
|---|---|---|
| 87,244 | ||
| 2022 5 |
||
| 2022 17,402 - |
||
| 17,402 | ||
| 2022 - 2,163 150 24,000 250 44,984 40 |
||
| 71,587 | ||
| 2022 1,200 14,251 714 995 |
||
| 17,160 | ||
| 2022 - |
Charity number: 1102624
9
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Notes to the financial statements
For the year ended 31 December 2023
| 8. Other resources used 2023 Insurance 463 Bank charges 283 Office/computer supplies 2,950 Car Lease 6,600 Repairs/Maintenance 5,340 Other expenses 144 Depreciation 7,700 23,480 The trustees were not paid or reimbursed for expenses during the year. 9. Debtors 2023 Other receivables 45,869 10. Creditors - Current 2023 Sundry creditors 1,150 |
2022 3,691 177 596 6,050 200 142 7,700 |
|---|---|
| 18,556 | |
| 2022 25,790 |
|
| 2022 - |
10. Tangible fixed assets
| 10. Tangible fixed assets | |||||
|---|---|---|---|---|---|
| Musical & | |||||
| Office | Motor | Church | |||
| Buildings | Equipment | Vehicles | furniture | Total | |
| £ | £ | £ | £ | £ | |
| Cost: | |||||
| At 1 January 2023 | 246,000 | 18,550 | - | - | 264,550 |
| Additions | - | - | - | - | - |
| Disposals | - | - | - | - | - |
| At 31 December 2023 | 246,000 | 18,550 | - | - | 264,550 |
| Depreciation | |||||
| At 1 January 2023 | 51,000 | 12,533 | - | - | 63,533 |
| Charge for year | 3,000 | 4,700 | - | - | 7,700 |
| Disposals | - | - | - | - | - |
| At 31 December 2023 | 54,000 | 17,233 | - | - | 71,233 |
| Net Book value | |||||
| At 31 December 2023 | 243,000 | 13,850 | - | - | 256,850 |
| At 31 December 2022 | 246,000 | 18,550 | - | - | 264,550 |
Charity number: 1102624
10
REDEEMED CHRISTIAN CHURCH OF GOD, HRMH
Notes to the financial statements For the year ended 31 December 2023
| 11. Unrestricted funds of the charity Brought forward @ 1 January 2023 Movement in funds for the year Amount transferred from/to Restricted funds Balance at 31 December 2023 12. Restricted Funds Brought forward @ 1 January 2023 Movement in funds for the year Amount expended Balance at 31 December 2023 |
2023 300,510 18,152 - 318,662 1,921 (9) - 1,912 |
2023 |
|---|---|---|
13. Analysis of net assets between funds
| 13. Analysis of net assets between funds | |||
|---|---|---|---|
| General | Restricted | Total | |
| Tangible Fixed assets | 256,850 | - | 256,850 |
| Net Current assets | 62,962 | 1,912 | 64,874 |
| Current & long term liabilities | (1,150) | - | (1,150) |
| 318,662 | 1,912 | 320,574 |
14. Related parties disclosure
The minister in charge is a connected person to one of the members of the trustees. The relevant trustee was not involved in any way in the proposal, discussions or approval of any allowance payable or paid to the minister in charge. Furthermore, none of the trustees received payment for expenses or services provided in their capacity as Trustees.
With the agreement of common purpose, contributions were made as follows: £1,200 (2022:£1,200) to the Central office and the Festival of Life £14,247 (2022: £14,251) to the World Evangelical Mission (WEM).
Charity number: 1102624
11