THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE Charity REG.No 1103374 FINANCIAL STATEMENTS FOR THE YEAR ST ENDED 31 DECEMBER 2024 MOSES-BOLE&CO CHARTERED CETIFIED FORENSIC ACCOUNTANS CERTIFIED PUBLIC ACCOUNTANTS & TAXI ADVISERS & BUSINESS CHARTERED MANAGEMENT CONSULTANTS)
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE CONTENT Trustees and Advisers Trustees. Report Independent Examiner"s Report to the Trustees Statement of Financlal Activities Balance sheet Notes fornilng part of the Flnancial Statement 5-17
THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS TEMPLE TRUSTEES AND ADVISERS Minister In Charge: Pastor Ade Oluwayinka Trustees: Samuel Oladele Bakare Secretary: Adeolu Adewuyi Registered Office: 111 Brockles Mead Harlow London. CM19 4PX Charity No 1103374 Bankers Barclays Account: 00667854 Sort Code: 203698 Accountants: OSES-BOLE&CO CERTIFIED PUBLIC ACCOUNTANTSI TAX ADVISERS CHARTERED CERTIFIED FORENSIC ACCOUNTANTANTS & BUSINESS CHARTERED MANAGEMENT CONSULTANTS) 39 Saints Brelades Court Balmes Road London N15TW
TRUSTEES ANNUAL REPORT FOR THE REDEEMED CHRISTIAN HURCH OF GOD - THE LORD'S VINE FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND AcfIvITIES The Objects of the charity are: Advancement of the Christian faith. The relief of poverty The charity pursues these objects through a place of worship located at Ward Hatch, Harlow, Essex. The charity activities include Christian Worship, Christian outreach programmes to increase Christian awareness and spread the gospel of our Lord Jesus Christ, and the development of the whole person, spiritually, mentally, and physically. The year 2024 has continued the implementation of meeting her objectives of furthering the Christian faith and alleviating the suffering of the people generally, irrespective of their race, background, sex or faith In determining how best to pursue these objettives, the trustees have taken into account the Charity Commission's guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE The 2024 financial year was a period during which the charlty had fully emerged from the challenges of the COVID-19 pandemic, which continued until 2023. However, we now hold programmes such as the Bible studies, Friday prayer meetings in the Church buildings rather than on line. However, the House Fellowships are still held online. We continued with our regular help and assistance to the community. We provided support to the elderly in the community by offering care, social and recreational services to local elderly residents in the Mark Hall area of the Harlow community. We also undertook visits to the homeless and the hospital, providing donations of money and relief materials. Essentials, such as milk, foodstuffs and clothing, are distributed to Church members every Sunday. STRATEGY To pursue her objertives, the charity mobilised its various departments to support the Church's attivities in this regard. The events and programmes
which helped build relationships with the community were held during the year. These departments include: Children 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 which helped build relationships with the community were held during the year. The events organised include: Church annual seminar and community empowerment We organised a Christmas Carol and Party for members and the community. This event was well attended by members of the community. In the month of May, we had a good Women's conference, which involved reaching out to women in the community. We had a local Youth Variety Weekend aimed at discovering hidden talents among the young people in the community. We held a youth community evangelism drive. This is organised to create awareness among the youth in the community. We had a programme tagged 'Men of Honour, conference in Ottober, targeted towards ministering to and empowering men in the community. The children's Church raised money to support Save the Children Charity, Cancer Research UK, and Princess Alexandra Hospital, Harlow. Food was donated to the Food Bank, Harlow. The Charity continues to provide financial support to the Festival of Life prayer event held biannually in London. In the month of November, we organised a Children in the community weekend The church's yearly conference, aimed at empowering adults in the community, was held in September. Jesus in the Community Programme took place in December, involving the distribution of food items to the homeless people in the community. RISK MANAGEMENT The Trustees have conducted a review of the significant risks to which the Charity is exposed. The risk register continued to be used to identify major risks by area of activity, the nature of those risks, the likelihood of the risks occurring, and the measures taken to manage them. The Trustees review the risk register regularly at their meetings and are satisfied that systems are in place to manage the risks that have been identified. In particular, Insurance cover is in place, and the charity's
finances are kept under review. Appropriate Disclosure & Barring Serrfices checks (DBS), supported by regularly reviewed policies, are conducted for all those who work with the children or other vulnerable groups within the Charity. Internal controls risks are minimised by the implementation of procedures which are in place to ensure compliance with the health and safety of members of staff, volunteers, clients and visitors to the Charity. We are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. FINANCIAL REVIEW The trustees are aware of the provision that a resen4e policy must be in place to maintain a target balance of three months, worth of fixed operational costs at any given time for the purpose of ensuring the operational delivery of its charitable objerts during an unforeseen downturn in income. Therefore, we have provided not less than fifty thousand pounds in our account, aiming to generate more income for further expansion. The Charity's principal funding source continues to be the individuals who attend church services and make contributions in the form of freewill offerings, tithes and other voluntary donations. The donations also offer the opportunity to make a claim under the gift aid scheme. STRUCTURE. GOVERNANCE AND MANAGEMENT The Charity is constituted under the Trust Deed dated 20 April 2014 and is registered in the UK with number 1103374. It is governed by this deed and is managed by a board of Trustees. Decisions are made by a simple majority vote of the Trustees, who determine the strategic direttion of the Charity. The Church's day-to-day running is delegated to the Pastor by the trustees. He ensures that all management control mechanisms to achieve the charity's objettives are put in place. The trustees are consulted on all important issues to determine the strategic direction of the charity's activities. The Trustees meet formally as and when required to review the Church's operational mechanism. According to the trust deed, the Trustees are required to meet at least twice a year. The management of the church is the responsibility of the trustees who are elected under the terms of the charity Trust deed. The trustees who were in office during the year are listed at the beginning of this report.
Future Developments The Charity will continue to explore ways of furthering its charitable objettives in an effettive manner by ensuring there is awareness of its services and proartively seeking opportunities to be more involved in the community. The charity aims to deliver services and attivities that cater to the needs of individuals and foster a positive shift in the moral and spiritual climate of Harlow and its surrounding environment. We have now fully completed the building's expansion project. More space has been gained and added to the Church seating area. This has resulted to the huge transformation of the Church, both internal and external. The seating arrangement now offers a more convenient and comfortable atmosphere for the congregation. However, we are continuing with the redecoration and sound installation of the Church. We hope to complete these as soon we have enough money. TRUSTEES. RESPONSABILITIES STATEMENT The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice) The law applicable to charities in England & Wales requires trustees to prepare financial statements for each financial year, which give a true and fair view of the charity's state of affairs and the application of resources for that period. In preparing these financial statements; Trustees are required to.. selett suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP; make judgements and accounting 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 operation. The Trustees are responsible for keeping proper accounting records sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Acr 2014, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for
safeguarding the charity's assets and, therefore, for taking reasonable steps to prevent and detert fraud and other irregularities. This report was approved by the Trustees on signed on their behalf by: Doris Omoro be Member, Board of Trustee and
Dorig Omoro Member, Board of Trustee
MOSES BOLE&CO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES REDEEMED CHRISTIAN HURCH OF GO RS TEMPLE I report on the accounts of the charity for the year ended 311 December 2024, which are set out below and notes to the financial statements on pages 7 to 17 Respertive Responsibilities of Trustees and Examiners As the Charitvs Trustees. you are responsible for the preparation of the accounts. you consider that an audit is not required for this year (under section 144(2) of the Charity Act 2011(the 2011 Act) and that an independent examination is needed. It is my responsibility to Examine the account (under section 145 of the Act),. follow the procedures laid down in the General Directions given by the Charity. Commission (under section 145(5) {b} of the 2011 Act and State whether particular matters have come to my attention. Basis of Independent Examinerfs report My examination was condutted in accordance with the general directions provided by the Charity Commission. An examination includes review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It a150 includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as 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 Examinerfs Statements In connettion with the examination, no matter has come to my attention:_ l) Which give me reasonable cause to believe that in any material respert the requirements To keep accounting records in accordance with section 130 of the 2011 Act. To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met or 2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached Moses O E Igunnubole, BA (HONS) FAIA, FCP4 FF4 FIP4 FTI FIC CPFA... Managing Partner MOSES-BOLE&CO Chartered Certified ForensicAccou Certified ProfrssionalAccountants/TaxAdvisers And Business Chartered Manogement Consultants DATE.. 2 s -@q-2025 ." +44 758 407 5572 r: +44 020 7¥23 4680 E. mo$t.C(ffi . MOS¢)> L. 39 St Brd&J&8 Ba$ To. L(th. United FQnG¥Jom, N1 5rw
THE REDEEMED CHRisnAN CHURCH OF GOD LORD"S VINE STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31ST DECEMBER 2024 Restricted Note Unrestricted income EndowmE FurKI8 Funds Funds Prior year Funds Total Funds Income and endowments from". Donations and legacies 202,9)9.85 202.909.85 Resources expended Expenditure on: Direct Cost Support Cost Govemance Cost 202,909.85 202.909.85 222,728 222,728 68.258.06 54.778.10 2.690.00 68.258.06 54.778.10 2.690.00 73,796 56,351 2.690 Total 125.726.16 125,726.16 132,837 Net nyovement in funds 77,183.69 77.183.69 89.891 Total funds brought foThiard Total funds carrled fonvard 465,615.09 542.798.78 465.615.09 542,798.78 375,725 465,615
THE REDEEMED CIIRisfiAH CHURCH OFGOD LORD"SVR4E BALANCESMEEfAS AT 31sr DECEMBER 2024 FIX$ 08$8ts Tangib a$80ts Total ffxed 8588ts Fur& Fu 555.410.58 555 410.58 555 470.58 Cash at bank in hand Total tsJrigfft439a 757.06 Not ¢UErent8ssewiiLgL4IMes) 1IJ81f4 11.382.74 4.807 37432 539 rotal nttassets orliabrftttes Funds olthè Charlty S7.12 ,986.12 69,248 ReVUatiOn tese Titrlfvnds 541fd8.78 541798.78 485.615 Signaknjra.. FknTrtNaTh'.
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Note 1 Basls ol preparation 1.1 Basis of aceountlng These accounts have been prepared under the historical cost convention wtth items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Inland (FRS102} issued on 16 July 2014 and with the Charities Act 2011 and the Charity constitutes a public benefit as defined by FRS102. 1.2 Golng concern Considering the stead level of incoming resources and membershlp number the Charity is a going concem with no any known unforeseen circumstance 1.3 Change of aecounting policy The accounts present a true and fair view and the accounting policies adopted are those outlined in the note with no change in policy 1.4 Changes to accounting estimates No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP). 1.5 Material prlor year orrora No material prior year error have been identifieA in the reporttng period {3.47 FRS 102 SORP).
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 Aceountlng polleies Note 2 2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE The is no change in accountiro policy in this period Note 2 22 INCOME This standard list of accounting policies has been applied by the Charity except for those ticked No or 'Nla" Where a different or additional policy has been adopted then this is detailed in the LM)x below. Recognitlon of income Thoso are included in the Statement of Financial Activities (SOFA) when". . the charity becomes entitled to the resources" . it is more likely than not that the trustees will receiv8 th8 resources; and . the monetary valu8 rn b8 measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses. Grants and donatlons Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). In the case of perfomiance related grants. income must only be recognised to the extent that the charity has provided the specified goods or services as enttuement to the grant only occurs when the perfomianGe related conditions are met (5.16 FRS 102 SORP). Legacles There is no legacy received durFng this peri&J. Accounting policies Government grants No govemment grant was reoived during this period. Tax reclalms on donatlons and gifts Glft Ald recelvable is induded in income when there is a valid d8daratTron from the donor. Any Gift Aid amount recovered on a donatitjn is cnSIdered to be part of that gift and is treated as an addition to the same fund as the inttial donation unless the donor or the temis of the appeal have spectfied OtheiSe. Contractual Incon and Perf0rnwe related grants This is not applicabl8 Donated goods There is no donated good. Donated services and facilities Donated services and facilities are included in the SOFA when r1Ved at the value of the gift to the charity provided the value of the gift can be measured reliably. Donatsd seNices and facilities that are consumed immediatety are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 Support costs The charty has irEre(j expendiiure on supwjrt txjsts. Volunteer help Th6 value of any votuntsry help r8c£ived is Tr)t Incr in the but is described in the twstees. annual reporL In¢ome frorn Interestg royalti and dlvidends Not applicsble during this period. Income from membershlp sthcrlptlon• Tithes and offering T8cetved from the members are in the nalure ofa glft are reo)gnised as DrtiOrLs. and Lggacies S•ttlen)ènt of Inwranee clalms Insurance cfaims are onty indud6d in the SOFA the general inc¥xn6 re()Jgnilion uSteria are met15.10 to 5.12 FRS 102 SORP) and are indude¢l as an item ofother Income in the SOFA Investment gains and losses This includes any rèajised or unrealised gaTr)$ or losses on thp sale of in¥estsnen15 aThJ anygain or loss resulting from revduiru invostrnents to market value at the ond of the yoar. 2.3 EXPENDITURE AND LIABILITIES Llablllty rncognltlon Liabilities 3r6 recognised where it is more likely than not that there is a legal or construcbve obligation committing the Charity to pay out reSoUS and the amount of tha obligation tn be measur&J valh reanable txrtainty. Governance and support costs Support costs have been all(ted behYe8n govemance o)sts and othor suptyL Gov8rrrance costs o)mprise 811 costs involvrng public econ1#bI1ty0fth0 chanty and rts Mpldn regulab.on and good pracb'ce. Support costs indude txnlral fUnlonS and have baen aljorxw to a(¥ity u&st cstwies on a basis ojnsistent knth the usè of Ies(MJr. eg allocng propety costs bYfi0 areas. per opita. stsff o)sts by the tim8 spanl and oth&r costs by I1r usage. Grants wlth perf•rnwnc• ¢onditlons The Ch8rity is not awarding grant to 8ny organisation Where there are C%)r[tionS attathing to the grant (hat enabtes thè donor (*arityto realisiicalty avoid the mmItment a liabiltyfor the ftrn fvnding obligation must be recognised. Redund•n¢y cost The ctharity made no redundancy Panents during Ihe reporting D•fgrrod in¢om• No material item of deferred inc#Jme has be8n indthled in the acojunts. Credltors The charity has creditors leh a measured at sethment amourts less any trade discwnts
Provlslon$ ft¥r Ilabllitles A liability is measured on ts¢ognition at Tts historical tsxt and then subsequenlty measured at the best $strmate of the amount required to settte the oblwJation al the reFthing date Baslc flnanclal instruments The chadty a(wints for basic financial instrunwnts cm inTtral r8(wnition as per paTraraph 10.7 FRS 102 SORP. Subsequent measuremont is as per pardgraphs 11.17 to 11.19. FRS 102 SORP. 2.4 ASSETS Tangib fix•d assets for us• by charfty Thesg are capitalised if they can be used for moro than one y8ar. and cost atlgast They are valued al cost The depre(>ation rates and nthods {ed ar8 disck)sed in note 14. Intangible fixed assets The Charity has no intangible fixed assets. thal is. n0n41Ketsry assets that do not hav8 physi(xl substance bul ara identifiable and are controlle(I by Ihe charrtythrough ujstody or legal rights. The amort15ation rates and methods used are disclosed in note 15 They arè valued at co8L Harrtage assets The charity has no heritage assèts, that i8. n(Nl-rnonetary a&%ets historio artistio sctentif technological, ge0phs[Cal or environmentsl qualitiès that aro hejd aThl mainlaiTreil principallyforthgir Jnlribulion to knoedg8 and culture. The depreciats.on rates and thodS used as dEd0 in note 16 is not applicable dunrKJ this peri(yJ tyjt rfavailable they arè valued at cos Investments Fixed asset investn7ents in quoted sha, traded trK)nds and similar inve5trnents are valued at inilially al cost and subsequenuy al fair value (their market valLt&l at Iho yEar end. Th8 sam6 trèatment is applied to unlisted Investments Unl fair value ¢xnnot b8 measurèd reliably in whieth (se r( is measured at (a)st l&ss impaimjent. Investments held for resale or pending theirsale arKI cash and cash equlvalents vAth 8 mattjrity date of less than 7 year are treated as current asset investsy)ents Sto¢ks and work In progress Stocks held for sale as part of nonwcharitsble trade are m8asur&J at the Jow or cost or net realisable value. Goods or servi$ provided as part of a charitsble auivity are measured at net Tealisable value based on the service potentsal provided bY1ter of stcrk. Work in progress is valued at Cost lass any foreseeablè loss ttt is lik8ty on tha contracL Dehtors Debtors lincludirKJ trade debtors and loans Ceiv3b1eI a r[aSurd on initi.al wnrtion at settlemerit amount after anytrdde discounts or amount advan by the tharity. Subsequenlly, are m&asured at thè cash orother con$iderat*)n expected to be reIved. Currènt a$set Investments The charity has has Inlments which il hd5 for resale orperIng therr sale and cash and cash equivalents wth a tnaturity dale less than one ar. These iftdude cash on deposit and cash equivalents wth a matUTty date of less than one year held for invesknent purposes ratherthan to meet short term cash c(xnmitments as they fall due. They are valued at fair value 9pt where theyqualify as basic finanoal irk5trumsnts. POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM TIIOSE ABOVE There is no any other policies adoptsd. io
THE REOEEMED CHRISnAN CHURCH OF GOD LORD'S VINE NOTES TO THE ACCOUNTS CONTINUED Noto 3 FOR THE YEAR ENDEO 31ST DECEMBER 2024 PAor Funds Funds Funds Funds Funds Donations, Gifts. Tithes and Offering Gift Aid Totsl 160A73.97 160A73.97 42,435.88 202.909.85 186,543 56.185 222,728 201909.85 Other In¢om TOTAL INCOME 202.W9.85 202.909.85 221728 Oth•r InfonnOn. All Income ITr the prior y•ar wa• also unrest In¢ludlng the prfor year.th¢re ¥vas no Mate1 Incon th• above th•t requF*e dlsclosure of Its nature and amounL li
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD'S VINE NOTES TO THE ACCOUNTS CONTINUED Noto 4 FOR THE YEAR ENDED 31ST DECEMBER 2024 Unrestrlctod Income Endokn Fund$ FutKIs Funds Prfor Total Funds Visiting Minister HonDrarfum & Ey4Ense5 Conference Attendance WEM Sunday Sch(bJl trraining Expws Outreach & Evangelism RCCG- Central Office Gifts & Donations & chaEitsbJe Weare Pastor"s Salary & AJfowanL* Pension Youth & Chli dren Departrnerrt Church Maffttenan Experts Choirl Key Boardl Music Expenses Funds 2,7LX). 1.340.CK) 2,71J).00 1,340.00 1,800 2.955 15,929 1.080 1,027 1,450 973 3,330 36,600 3,190 200 4,093 1.170 73,796 710.(KJ 4.786.51 828.(h) 3.3.00 39.020.32 4.741.62 841.97 4.363.44 4.984.20 68.258.Q6 492.00 770.00 4,786.51 828.00 3.390.00 39.020.32 4.741.62 841.97 4.363.44 4.984.20 68.258.06 TransFK)rt & Travel EntertainmenllRefreshmsnL% PA YEINIC Vehidè Expenses- road tax. pang. licence R8pair5 & ttenance Prlnting. Postage & Stathjnary Telephonè, fax,¢nlemet& Zw) Insuranca. LenceS & Renew El8ctri(ity & Gas Water. Gèneral Rate Bank Ch8rges. interests & commisstcffts compub.ng & Soflw8re Expenses Consultary leè8 Deprecialion Se¢urity & Fire c Expensfjs Subscriplrons Cl8aning Rènt Gfft Aministratkjn Cost hAulb' Medl8 slUdC(mnMuk8ti Exps. 3.030.43 4.184.09 5.849.83 4.919.75 6,310.16 4.536.12 2.346.C6 3.030.43 4.184.1>3 5.849.83 4.919.75 6,310.16 4,536.12 2.346.06 443.) 4.573.91 235.00 1,830.92 1.441 2,387 2,939 3,556 4.803 3.063 1.508 2.088 6,175 222 7,228 210 4.573.91 235. 1,830.¥2 7.340. 730. 7,340. 205.Tr3 164.89 171.45 1.992.06 4,667.95 1.246.49 54,778.10 4,205 2,723 164.89 171.45 1.Wd2.06 4.667.95 1,246.49 ¥778.10 130 13.028 6,180 465 56,351 123.036.16 123.03&16 130.147 12
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD'S VINE NOTES TO THE ACCOUNTS CONTINUED Note 5 FOR THE YEAR ENDED 31ST DECEMBER 2024 Detalls of certain items ot expendlture 10.1 Fees for examination of the accounts Please provide details of the amount paid for any statutory extemal scrutiny of accounts and other services provided by your independent examiner. If nothing bfds paid please enter 'O' in the appropriate box(es). GOVERNAMCE COST This Year Last Year Independent examinerfs fees 600.00 Assurance SeNiS other than audrt or independent examination 600 365.00 365 Other fees (for example: financial advice. consultancy. ac(x)untancy s8fvii paid to the independent examiner 1,725.00 1.725 2,690.00 2,690 13
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED Note 6 Paid employees Please complete this note if the charity has any employees. 6.1 Staff Costs FOR THE YEAR ENDED 31ST DECEMBER 2024 This Year Salaries and wages Social security costs Pension costs (defined Other employee benefits Last Year 39.020.32 36.600 4.741.62 3,190 Total staff costs 43.761.94 39,790 14
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 Note 7 Tangibh fixed asw Freehold land & l)uildings machinary & motor hiclès Fixtures, ffttings & eguipment At the ginn[rO of the year Addidons 608.70624 34,849.00 21.025.59 664,580.83 395.697 44.750.00 15.678.92 At end of the year 60.428.92 268.884 653.45624 34.849.00 36.704.51 7.2 Depreclation and impaimwnts Basis Freehold Propety Motc¥ VehKle Musical Equipment Office Equipment 725,009.75 664,581 20% Straight Line 20% Straight Line 20°A strah1 Rate At beginning of the year DisposaL% Depreciation At end of the year 102.762.40 38,260.50 21.235.37 162.258.27 158.053 102.762.40 7.340.90 28.576.27 38,260.50 7.340. 169.599.17 4,205 162,258 7.3 Net book Wdlue Nel book value at the beginning of tr Nel book valu8 at the end of the yea 237,060.09 _ 3,411.50 3.411.50 2,650.53 8.128.24 236.299.12 555,410.58 236,299 502.323 7.4 Impalnnent x NONE No description of the events and circumstanc&s that led to the reclwthn or reversal of an impairment loss. 7.5 Rgvaluatlon An accounting Wicy of revalu8tion is not adopted during this ac(LxJnting pwic#Y.' the effective date of tha revaluation = NIA the rFame of indopendent valuer, rfapplicatd8= NIA the Methj$ apled and signfficant assumptions= NIA the carryng amount that wcwld have been reCrXJni had the assets t¢en carried wKlerthe cost mod8L 7.6 Other disdosures (i) Please stale the am(xJnt of borrowing o)sts. if any. caprtalised in the (a)nstructa)n of tangible fixed assets 8nd the capitslis8tion rate used = WA (Sil Please prowde the amount of contracknal conmrtments f(* the aul$ll10n of langibte red assets = NIA {iil) Details of the e$tenCe and carrying amounts of propety. plant and eqUipnnI to lch the ch8rity has restricted titie or that are plged as seojnty for liabilrtFes - NIA
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED Note 8 FOR THE YEAR ENDED 31ST DECEMBER 2024 Crndltors and accruals Please ct)n7plete this note rf the charity has any txeditors oracmls. 8.1 Analysis of creditors Amounts falh due Wrthin M(K8 Than l Year l Year Prkxyear Amounts falling due Within More Than 1 Year 1 YeaT Other crgdilors (Card balance) Accruals and defeed income Mortgage Repayable By Instalment Total 8.692.74 2.690.tJ) 1,342 57.986.12 57.986.12 11,382.74 4,807 69,246 69,246 82 D•ferred Inn• THERE IS NO DEFERRED INCOME DURING ThIS PERIOD 16
THE REDEEMED CHRISTIAN CHURCH OF GOD LORD"S VINE NOTES TO THE ACCOUNTS CONTINUED Note 9 FOR THE YEAR ENDED 31ST DECEMBER 2024 Cash at bank and in hand This Year Last Year Cash at bank and on hand Total 56,757.06 56.757.06 37.346 37,346 17