THE REDEEMED CHRISTIAN CHURCH OF GOD LORD-S VINE Charity REG.No 1103374 FINANCIAL STATEMENTS FOR THE YEAR ST ENDED 31 DECEMBER 2023 OSES-BOLE&CO CERTIFIED PROFESSIONAL ACCOUNTANTS & TAX ADVISERS & BUSINESS CHARTERED MANAGEMENT CONSULTANTS 39 SAINTS BRELADES COURT BALMES ROAD BALMES ROAD, LONDON N15TW THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE CONTENT Tru8to0s and Advls•r• Truit•es' R•port Ind•p•nd•nt Exarnlnor s Roport to lh• Trust•O8 stat•m•nt of Flnanclal Actl¥ltlo8 Balanco 8ho•t Notos fomilng part of th• Flnanclal Stat•m•nl 5-18 THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCGJ WINNERS TEMPLE TRUSTEES AND ADVISERS Ministsr In Charge: Pastor Ade Oluwayinka Trustees: Samuel Oladele 8akare Secretary: Adeolu Adewuyl Registered Office: 111 Brockles Mead Harlow London, CM19 4PX Charity No 1103374 Bankers Barclays Account: 00667854 Sort Code: 203698 Accountants: OSES-BOLE&CO CERMFIED PROFESSIONAL AccoupifANTSI TAX ADVISERS & BUSINESS CHARTERED hlANAGEMENT GONSULTANT8 39 SAINTS BRELADES COURT BALMES ROAD BALMES ROAD. LONDON N15TW OBJEcfIvES AND AcrivmES The Objects of the charfty are.. Advancement of the Christlan falth. The relief of povety The charlty pursues these objects through a pla￿ of worshlp located at Ward Hatch Harlow Essex. The charity attivitles are Chrlstlan Worshipi Chrlstlan outreach programmes to increase Christian awareness and to spread the gospel of our Lord Jesus Chrlst and the development of the whole man, splritually, mentally and physlcally. The year 2023 has contlnued the implementation of meeting her objettives of furtherlng the Chrlstlan falth and allevlatlng the suffering of the people generally, Irrespectlve of their race, background, sex or falth In determinlng how best to pursue these objects the trustees have had regards to the charlty Commisslon's guldance on publlc beneflt, ACHIEVEMENTS AND PERFORMANCE The 2023 flnanclal year was a period the charlty ha fully emerged from the challenges of the covid-19 pandemlc which contlnued untll 2022. However, we stlll contlnue to hold programmes such as the Bible studles, Frlday prayer meetlngs and House Fellowshlps on Ilne. As a way of alleviatlng the sufferlng of the members and the communlty, WÈ. stlll continued to provlde help and asSIstsn￿ to the need. The Charlty asslsted the famllles and indivlduals that lost thelr Jobs as a result of the pandemlc. We contlnued wlth our regular help an(J assistance to the communlty. We provlded support to the elderly In the community by offerlng care, social and recreatlonal servlces to local elderly resldents In Mark Hall a￿a of Harlow communlty. We also undertook vislt to the homeless and the hospltal with donatlons of money and relief materlals. srRATEGY To be able to pursue her objectlves, the charity mobilized its various departments to support the activltles of Church In this regard. The events and programmes whlch helped in the building of relationships with the community were held durlng the year. These departments include: Chlldren Sunday School, Men of Honour, Good Women Fellowship. Youth Ministry. Prayer and Intercessory Group, Evangelism Group, The Vine Voices (Music) and Media Department. The events and programmes whlch helped in the buildlng of relatlonships with the community were held during the year. The events organised Include: Church annual seminar and community empowerment We organlsed Chrlstmas Carol and Party for members and the community. This was well attended by people In the community. In the of month May we had good Women conferen￿, whlch Involved reaching out to women In the community. We had local Youth Varlety Weekend aimed at discoverlng hldden talents among the young people In the communlty. We held youth community evangelism drlve. Thls Is organised to create awareness among the youth In the communlty. We had a programme tsgged 'Men of Honourf Conferen￿ In Ottober, targeted towards mlnisterlng to and empowerfng men In the communlty. The chlldren Church ralsed money to support Save the Chlldren Charity, Cancer Research UK, PrIn￿SS Alexandra Hospital Harlow. Food was donated to Food Banl Harlow. The Charlty contlnues to provlde flnancial support to the Festlval of Llfe prayer event held bl-annually In London. In the month of November, we organlsed Children In the communlty weekend Church yearly conference almed at empowerlng the adults In the communlty was held In September. Jesus In the Communlty Programme took place In December Involvlng distributlon of food Items to the homeless people In the communlty. RISK MANAGEMENT The Trustees have condutted a revlew of the major rtsks to whlch the Charity Is exposed. Rlsk reglster contlnued to be used to Identify the major rlsks by area of attivlty, the nature of those rlsks, the likelihood of the risks happening and the measure taken to manage them. The Trustees review the risk register regularly at thelr meetings and are satlsfled that systems are in place to manage the risks that have been identlfied. In partlcular, Insurance cover is in pla￿ and the finances of the Charlty are kept under review. Appropriate Dlsclosure & Barring ServI￿s checks (DBS), supported by regularly reviewed policies are condutted for all those who work with the children or other vulnerable gmups wlthin the Charfty. Internal controls risks are mlnimised by the implementation of p￿￿dureS which are In place to ensure compliance with health and safety of members of staff, volunteers, clients and vlsitors to the Charlty. We are satlsfied that systems and procedures are In place to mitSgate our exposure to the major rlsks. FINANCIAL REVIEW The trustees are aware of the provlslon that a reserve policy must be in place to maintain a target balance of three months worth of flxed operational costs at any glven tlme for the purpose of ensurlng the operational delivery of Its charftsble objects during an unforeseen downturn In income. Therefore, we have provlded not less than fifty thousand pounds In our account almlng to generate more Income for further expansion. The Charlty's prfnclpal fundlng source contlnuous to be the Indlviduals Who attend church servlces and make contrlbutions In the form of freewlll offerlngs, tithes and other voluntsry donations. The donatlons also offer the opportunlty to make clalm under the glft aid scheme. STRUCTURE GOVERNANCE AND MANAGEMENT The Charity Is constituted under the Trust Deed dated 20 Aprfi 2014 and Is UK reglstered number 1103374. It is governed by thls deed and Is managed by a board of Trustees. Decisions are determlned by a slmple majorlty vote by the Trustees who set the Strateglc dlrettion Of the Charlty. The Church's day-to-day runnlng Is delegated to the Pastor by the trustees. He ensures that all management control mechanisms to achleve the charlty's objettives are put In place. The trustees are consulted on all Important Issues to detemine the strategic dlrectlon of the charlty actlvlties. The Trustees meet formally as and when requlred to revlew the Church operatlonal mechanlsm. By the trust deed, the Trustees are requlred to meet at least two times a year. The management of the church Is the responslblllty of the trustees who are elected under the terms of the charlty Trust deed. The trustees who were in offlce during the year are as set out at the beginning of this report. Future Developments The Charity will continue to explore ways of furtherfng its charitable objettives in an effettive manner by ensurlng there Is awareness of Its servlces and proactively seeking opportunities to be more Involved in the Charities Acr 20141, the Charity ( Accounts and Reports) Regulatlons 2008 and the provisions of the trust deed. They are also responslble for safeguardlng the assets of the charity and hence for tsklng reasonable steps for the p￿ventIOn and detection of frdud and other irregularities. This report was approved by the Trustees on . slgned on their behalf by: and ris Member, Board of Trustee MOSES-BOLE & CO Oraiei>iona, uDiaili£ and 8u51nes5 lianagement con3uila￿1t0 Balmes Qoad IW&IWEUTWMINEWS REPORT TO THE TRUSTEES OD-THE LOR REDEEMED CHRISTIAN C VIN I report on the accounts of the charity forthe yearended 311f December2023, which are set out below and notes to the financial statements on pages 7 to 18 Respertive responsibilities of Trustees and Examlners As the Charity's Trustee5. you are responsible for the preparation of the accounts; YOU consider that an audtt is not required for this year lunder section 144121 of the Charity Act 2011lthe 2011 act) and that an independent examination is needed. It is my responsibility to Examlne the account lunder section 14S of the Attl- follow the prO￿dureS laid down in the General Directions given by the Charity; Commission (under sertion 145151 Ibl of the 2011 Act and State whether particular matters have come to my attention. Basis of Independent Examinerfs report My examination wa5 carried out in accordance with the general dirertions given by the Charity Commission. An examination include5 review of the accounting records kept by the Charity and a compari50n of the accounts presented with those record5. It also includes consideration of any unusual rtems or disclosures in the accounts and seekin8 explanations from you as the Trustee5 concerning any suth matters. The procedure5 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 Examinerfs Statements In connection with the examination, no matter has come to my attention'.- l) Which give me reasonable cause to believe that in any material respect the requirements To keep accounting records in accordance with sertion 130 of the 2011 Act: To prepare accounts which accord with the accounting records and to comply wtth the accounting requirements ofthe 2011 Act have not been met or To which, in my opinion. attention should be drawn in orderto enable a proper understanding of the accounts to be reached Moses O E Igunnubole. BA (HONSJ FAII FcP￿ FF* FIPA FT4 FIQ cPF￿ ACA T_ Manoging Partner MOSES-BOLE&CO Chartered Certifled ForensicAccount(Jnts Certified Professionol Accountonts/Tox Advise And Business Churtered Monogement Consultonts Toll 4441012077042525 EM￿ i fiWJse￿s Wth I 4¥FEssEXp￿è&lSts￿gmLQThd0￿ 30P THE REDEEMED CHRISTLAN CHURCH OF GOD LORD'S VINE STATEMEKr OF FTrIANCiALACTIVTFIES FOR THEYE￿I ENDED 31ST DECEIABER 2023 Prior year Funds Fun(L¥ Furhts Funds Funds Ineom• and andowm•nt• frw: Donations and bJade8 T•tal 222,727.67 222.727.67 222,727.67 222.727.67 220,824 220.824 Expendltur• • Direct Cost Support Co Gov8m8rKe Cost 73.79S.99 S6.351.18 2.ts).IKJ 73,795.99 56.351.18 2,6￿.00 67.721 53.152 2,420 Total 132.837.17 132.837.17 123.293 nK•v•m•ht kn fund¥ 89.890.50 89,890.50 97.530 Total funds brought forward Tot•1 fund• carrf•d lorw#rd 375,724.59 465 615.09 375.724.59 465 615.09 278.194 375,725 The REDEEMED CHRISTIAN CHURCH OF GOD LWSV BALMCE SHEEfAS AT 31ST DECEIIBER2021 ed a5¥0ts T￿gIble assots Current 8$8els Cash atbank 37 78Y 4AM95 179 Not￿rMiSs$￿7￿1￿8sI CrEdt0￿.. aThYA￿lS￿lInq Jw .24&44 89,246.44 8D.￿7 TOW net85sets Fund5 of th8 Chaflty Unreslrth fvnd5 15.09 37&n5 461615.lr .616.09 375,725 rotalfJJ5 37 s￿DA￿Ar￿. PAnt N￿8.. THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 1.1 Ba•1• of a￿0￿MIln8 Theso act￿nts hav8 prw)8r•Y undér the historical ¢￿t cl￿ntion wrth itwns recc¥Jnt98d at cost or transact￿ v8lue unless oth8Mse ststed in th8 relèv8nt not8(sl lo ihesa aeoiunts. The accounis hAvè bean prepar80 in a￿Ord8T￿ wllh Ihts FinarKial Rap0￿"n9 Standard applicablè in tho UK and Rgwblic of Inland IFRS1021 issu8d ￿ 16 Juty 2014 and vnth the Charili8s Act 2011 and tho ChBrity constitut&s 8 publK tenefit as dofined by FRS102. 12 Golng e•nc•rn 1.3 Ch*ng• •f a¢¢•unlln9 poII¢y Th0 8rLounts present a true and I￿r the accotstho adopbj thota cwtlined In the note ￿th no ¢han99 in pollcy 1.4 Chang•• to •c¢oyntlng ••llmat•• No thaTrJeB to acuunttng esJmaio8 hovt o¢oxr•J In lh8 f•F#>YNJ pwk)d13.46 FRS 102 SORPI. 1.5 Mat•rl•l prknr y•ar •rYov• No materfal y98r •rru have b￿n Id•nlffied in th& ￿p￿Ing p•rlod13.47 FRS 102 SORPI. THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 Not• 2 Accountlw pollcl 2.1 RECONCILIATION pRevious OENERALLY ACCErrED AGCOUNTINO PRACTICE There no tha￿8 in occoJnilng In this parfod Not• Z 12 INCONJE Th18 $tsndard list of 8cLY)unti￿ has b8èn appli￿ by the tharity except forthose Yekad No OT 'Nla'. Where a differ8llt or addknonal p￿cY has *J￿$d then Ihls Is deta11￿￿ in the box bdow. Aceoubrtlng pollcl•• R•¢oonltlon of Incom• These ar8 included in the Statemert ol Fln8nd* Acmles ISOFAI wh•n'. . th• charfty b8￿M•S entilled to Ihe rewrc88.' . It is morè likety ih8n not thai tho truslaes WIU Iha r8wJrc•8', and . thè mon8tsry Val￿ can bg m*8ured sufficlwrt relwbllty. Olh•ttlno Th•r8 has been no offsthng ol as801$ 8Th1 Ilabhllllos. and Ilrant• artd donatlon* Gr8nts and donauons af• only indudtd in tho SOFA ¥thgn th8 geml Inojme r•g)gnitk>D crftarta mgt15.10 to 5.12 FRS 102 SORPI. In tha case of wrlormancé f8lated gffjnts. IrKom iyty be rectsgni18d to th• 8Xt&nl that the charity has pro*Ad•d the spe¢th&J gc*)d8 or soTrlces as entill•m•nt to thè Effant cuur3 whts￿ the perfonnatlce relat9d condldons arè met (5.16 FRS 102 SORPI. L•ga¢b•• Thère 1$ nts18gacy r9￿1¥0￿ duth9 th18 perfod. Oov•rnm•nt gmnts No governrn8nt grant was recew durlng thy6 p*lc*J. Tax v•clalm• on donatlon• **d g1ft¥ Gift receivable is included In incom8 when th•rn Ss a valid ded8r•Uon frvm the dcnrx. Any Gift Ald amount r•¢ovored on 8 donaUon 1$ consKJer8d to be pgrt of that gfft and i¥ trèated as an addrfor to th? same fvnd as the Inllbal don•lw unloss the th)￿r (* tho torrThB of Ihe 8PWAI have Fpgcified otheMLqe. Th18 Is Th)t appllcable Donat•d good• D•n•t•d ••v¥lc•• •nd facllttl Donat¥d serwces and facil￿8$ are indud8d In the SOFA v*th8n re￿74*d al ts value of Ihè grfl to th& charity providwl the value ol grft can be rn88surnd rdkgL4y. Donatod serviw Bnd facilillas Ihal arè consumed imm&YiateJy are recc*Jnised as Inco￿ wlth an •quivalent arTh)unt r80)gni￿1 as an expense under the approprlat6 hè8diTrJ in SOFA. THE REDEEMED CHRISTIAN CHURCH OF GOD LORD'S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 The tharityhas inoJN•J 8vrvrt(ts Th8 value of anyvduntary hdp L8 rnlNx*pJed in fv•x•Jnts knlh• tru¥tee8' 8nnual rewrt Not¥)k4Thbl8 durlro this wcxy. 8nd LogBu65 In8wance claim8 are Qnty mLI￿j8d h) SoFA*then t• fix¥d assets and Ihe caOt8lAotk)n 1*0 ￿•d- WA (illl Delalls of the c•ryty *Dt •JWwrtio THE REDEEMED CHRISTIAN CHURCH OF GOO LORD"S VINE NOTES TO THE .4CCQUNTS (CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 Ptx)rYear Arrwnts ￿li￿j due Within 1 Year m(xmts fd. Wrfhn du6 1.1 AnalDl• olctylilorn 1Y 1 Year creditr)r5 Icard t•hrKel Accruab deferth Irb￿ Mtrtg8g8 Rep￿￿ By InslAlmwt Total 1.341.95 &4&5.L¥J 1.764 4.415 . 69.246.44 80.507 80.507 4,806.95 (179 THERE k8 140 DEFEf4RED WCOI* DURING TINS PERIOD THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 Noto 9 Cash at bank and in hand Th1$ Yèar Lastyg Cash at bank and on hand Total 37.345.¥2 37,345.92 224.767 224.767 17 THE REDEEMED CHRISTIAN CHURCH OF GOD LORD'S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 Nol• 10 THERE ARE NO ANY 8lgDNlcant nthrs whlch ar• not eo¥¢rad In other not•s a￿1 neod to b• includgd to provldg a PTop•r undernt•ndlng of th• •ccounts.