REGISTERED CHARITY NIIMBER: 1103974 RLPOR'T ori'iiE'fRUS-I'Efs AND FlTrl.hNC.IAI, s'fATEMENI'. ,"QR I'IIF, YCAR D'NDI-,D 30 N()VF',MIITr-R 2023 FOR RI,-I)LEf*lED C_HRISTIA Tr4 CIIIIRC.H or G.OD F.W LIFL CLN'fRI IIIOIISF. OF PRAI_SE) REDEEMED CHRISTIAN CHURCH OF GOD NEIV Lif1[ CENTRE II()IISE or PR,IISE cQNIEN1￿ THE FINANCIAL STATEMENT& FOR THE YEAR ENDED 30 NOVEMBER 2023 PAge Report ofthe TTh$t¢e$ Independent ExAmlner's Report Statement of Finontial A¢tiviti¢$ B8lince Sheet Note5 to the FIDAnclal StHtern•nts Iktfiiled StAtemeDt ofFlnAnciAI Actlvitles 12 REDEf.M_I,-.D CHRI8'1'IAY CHIIRC'II ()P C:Oi) lib'm, i.lrc CEN"I'IIE (HOIJSL o_r PRAI,%D- RfpoRT ()I.' 1-111. TRII,8'T'EE8 FOR TIII,: All I,:Nl)l.'l) Jn NOVIIMBER 2023 The trustees present tli¢ir report with the financial statements of thc charity for the year ended 30 Nov¢mber 2023. The tnjstees have adopted the provi510ll5 of Accounting and Reporting by Charities.. .Stalement of Recomtnended Praaice applicable to Charities preparing thcir accounts in a¢cordance with the Financial Reporting StandaTd appltcable in the UK and Republic of Irelat)d IFRS 1021 {effective l January 20191. OWEcfJvES AND ACTIVITIES Objective5 And arms a} Policies and Objectives The objects of the Charity are :. l) thc advancement of the Christian taith worldwide in accordan¢£ with the doctrine5 Set out in the statement of faith containe(l in Schedule 2) the reli¢f of povety Each year our Irustees review our objectives and activiti£s tD cnsure they continue to reflect our aims. In carrying out this review the Irustees liave LonsidtTed th¢ Charity Commission's gencral guidance on Public Benefit in particular its supplemcntary public guidance on the advancement of religion for public benefit. bl Strdtegies for achieving objectives The LhurLli has ¢idoptcd the following strnlcgies for achieving the ab()ve obj¢dive5'. oiitatllk11ion of seii)inars in th¢ church with proven 5peaker.8 aiid ministets of tdiih 10 guide member5 in various aspeLt5 of the chii51ian faiih .¥upport for otlier chariiies Christian evenis ttiiig up diffcrcnt internal departments to mtnister loi the members and outsides in various outreaches and family park events and youth activities to affect our Gutnmunity positively. The ¢h41rity has also supported the RCCG , Habitation ol. Hope to give Hop¢ io hope to the sireet children in Africa by helpillg to build schools and shelteT5 for the street boys. Significant a¢tivitie5 for Hchlevlng objectives il Sunday Servicc ill Community ouireach events iiil Provision of welfare support for members iv) Opcning of new branche5 ACHIEVEMENT AND PERFORMANCE ChAritAbl¢ getivitie$ ** General charitable purposes ** The prevenlivn OT relief of poverty ** Ovcrseas aidlfainine relier A¢cornrnodalion thousing Religious activities Inve5tm¢nt perfomAne• The trus￿¢5 have decid￿ that at pr￿nt, fund% should be Irtained in Bank5 and Building Societies. Any change in such bankinby arrangemetsi should b¢ agreed by the board. As far as possibl< fund5 will be retained in interest bearing accounts. FJNANCIAL REVIEW R¢serves policy The Cvmmission requires charities to determine and c¥plain their policy for r¢serv¢s. The trustees have reviewed it8 free reserve policy and have turned its entir¢ free unrestricted fiind into an ernergency fund io cnable RCCG IHouse of Praise) to rneet its obligations in event of a shorrfall in income or %udden upturn in eX￿ndItUre. Furthermore Ihe trustees meet quarterly to review theiT TeseNe levcl. If thc valuc of the reserves falls below a level unacceptable io the trnslees, th￿ appropriate action will be taken immedi8trly 10 rectify the siiuation. Page I REDEIMf.D C.HRlS'fiAN C.'IIIIRC.'Fl or c.01) NLW 1.11". r, c'i;N'l-R Tr, IIIOIISE or PRAI.STr:) RFPI)RI- 01, I'IITr-.'TRIISTEFS I.'OR TII I,- YTr.AR Tr;NI)I,:1) 31) NC)Vl,'fylllb-R 21)23 STRu￿uRE, GOVERNANCE AND MANAGEMF.NT Governing docurnenl The charity is ¢on(rolled by its governing do¢umenL a deed of trust and constitut&8 an unin¢orwTaled charity- Recruitment appointrnent of new trustees I'ru%tees' are apptsinted by a resolution of existing (TUSt￿ and co-opted under the ierms of th¢ Trust Deed. A board of trustees. (Thc Managemcntl make up of five ni￿lberS. currently admiiiiste￿ the charity. Each Irustee is required to ssent to the doclrtnal iMSiS of the trust. OrynlsatiDn&l $tru¢tur¥ deeL5iOll mgking The church is oiganised 50 that the trostees meet regularly to manage lis affairs. The day to day administratton of thc hurch is managed by the trusiees. Connected Charitie5 The charity is a m¢mher of the Redecmed Christian Churcli of God IRCCGI which hds parishes all over the world. The parish's relationship with RCCG and other pari51ies is governed by an.Ag￿ement for CoTnrnoii Purpose5" Under the Common Purposes Agreemeni, the charty has agreed to makc an annual contribution to RCCG IUKI. In addition. the church supporis mibsionary OTgani5ations such Fcslival of Life and World Evangelism Mission. Ihe church also provides support to members of the ¢ongregation (at the discretion of the trustees) who are in need.. REFF.RENCE AND ADMINISTRATIVE DETAILS RtgL%tered Charity nEimber 1103974 PrincipAI addro8$ 19 ATLANTIC CLOSE SWANSCOMBE Kent DAIOOLJ Trustee8 PASTOR S A AFOLABI Minster of Religiom A OMOMIA IT Consultanl PASTOR O AKINSEYE Administrator Abst. Past F D AJA YI Medical Administrator Independent LxRminer Abudey & Company Fir%1 Flovr 14-16 Powis Street W(K>lwich London SE18 6LF rsanker5 Barclay% Bank Pl.C Leic¢steT LE87 2BB PUBLIC BENEFIT The charity has continued t¢} PTovide benefits. to the public in th¢ mann¢r describe b¢low. l. Orgahi.%ing Sunday Service for religious worship and leaching 2. Organising Community outreach event5 and Fvan8elism 3. Provision of welfare support for members 4 Openillgi of iiew branches for spreading the good news of Jesus Christ Page 2 , 4/¢/- 3ml , INDCI>Tr;NDlJ)I 'l' Tr.IAfvII￿ I.:R'8 RLPOR'I'"I'O i'iii,;"fRI I.%'I'Tr-Tr.'S OF l)I,-F.MI.:D C'II IIIS'I I.:XN C'II U RC'II OF C'OI) NEW LIFI,: N'I'R Tr- (110118F, OP PRAISI} Independent exAminer's report to the trM$tee5 of REDEEMED CHRISTIAN CHURCH OF COD iYEW LIFE CENTRE (HOUSE OF PRAISE) I report to ihe ¢haTity trustce% on my examinatiun of the account% of REDEEMED CI IRISTIAN CHURCH OF GOD NEW LIFE CENTRE (HOUSE OF PRAISE) Ithe Trust) for the y¢ar ended 30 November 2023. Re$ponsibilitie5 and ba$[5 of report As the clidrty trustee5 of the Trust you are responsible for the prepdration of the a￿OUnts in accordan¢e with the r¢quireniLllts of the Charities Aci 2011 ('th¢ Aci,). I report in respect of my examlni?tion of the Trust'5 atbounls carried out Iiiidcr Scclioii 145 of the Act and in Carrying o my ex8niinL?iion I have followed ic11 applicable Dir¢dioiis &yiven by the CI11£ rity Ci?mii)ission linder Section 14515llbl of thc Act. Independent txamlner's statement I have completed tny examination. I confirm that no material rnattcrs have come to my ￿ttentIOn in connection with the examinatton givin8 mc cau%e lo believe that in any matcrial respect.. a¢cout)tingrecords were not kcpt in re5PLfl of the Trust &8 required by Scction 130 of the A¢t' or the accouiiis do not occvrd with tho.%e reuords., or the accoiini8 do not comply with Ihe ￿1pplIC￿L blc requirciiients ci?IiLemIii￿ Ihe forn) an(1 cnnicnt of acccTrU￿IS set out in th¢ C".IIRriiies (Accounts and Reporl%l lRAI%b' NOTI,:s'ro THE FINANC-IAL 5TATF.h1r.N'l'.S I',()R'fii E I'EAR b,P41lb-D 3Q N0VF.￿.1Bb..1<2O23 ACCOUNTING POLICIES BASIS Of prepxrlng the finAnciAI stitemtN The financial stalements of ihe charity, whi¢h is a public bcnefit entity under FRS 102, have been prepared in accordance wtth the Charities SORP {FRS 1021 'A¢counting and Rcporting by Charities.. Statcment of Recommended Practice applicable io Charities preparing their accounts in accordance with th¢ Fiiiancial R¢porting Standard applicdble in the UK and Republic of Ireland IFRS 1021 leffeciive l January 20191.. Financial R¢porting Standard 102 The Financial Reporting Standard appli¢able in the UK and Republic ol Ireland, and the Charitics Aet 2011. Th¢ finat)¢ial stalerncnts have been prepared under the historical cost convention. Income All inGome 15 recognised in the Statement of Financial Activities ontt the charity has entitlement to the ￿nds. it 15 probahle that the incoille will k reccivrd and the arnount ¢an be measuiEd reliably. Expendi￿re Liabilities are recognised as expenditurc as soon as there 15 a legal or conslnJdiv¢ obligation committing ihe charity lo Ihat expenditure, it is probable that a ttansfer of economi¢ benefrt5 will be required in %ettlem¢nt and the amount of the oblibalion can be measured reliably. ExpenditUTe is accounted for on an accruals basis and h bcen Classified undeT heading5 that agbTregale all wst relat¢d lo the category. Where costs caniiot be dirttily attributed to particular hcadings rhey have b¢¢n allocated to activities on a basis consistent with th¢ use of rcsources. Tmngible fixed assets DeprE¢iaiion 15 provided at ihe following annual rates in order to write off each asset OVCT its e%timat¢d useful Fixiures and fittin&8 Church Equipment 150h on rcducing balance 20D/ts on cost T#xatiDn The charity 15 exetnpt from t*LX Qll its charitable activities. Fund geeountlng Unrestricted fijnds can bc used IN aCCOTdance with the charitable objectives at the dis¢retioTr of the Irustees. Regiricied funds can only b¢ used for particular rL%trici¢d purp05CS Wlthin the objects of the charity. RestricliurLs aTISE when specifjed by th¢ donor OT when funds are raised for particiilar restricted purpose5. Furth¢T cxplanation of the natu￿ and purpose of each fund is included irb the notes ¢0 the financial statements. DONATIOPIS AND I,F.GACIF 2023 2022 Tithes and Offerin HMRC Gift aid 45.952 17,539 42,084 9.969 63,491 52,053 Page 7 coniiiiued... 'l)b'14 Ml,:l) C'II1118'1'IAN C'HIIRCII 01," GO Nl:. IV I:Irr. C'ENTRL LIIO(ISF. or PR,II%I.J NO'fF.S TO THE fiN,INJC-I,11,.8TATf:MF.NI'4_ rontlnu.¢.d I,'OR'I'HF YEAR LNI)I,-D 30 NOVEMIIER 2023 CHARITABLE AcfiviTIES COSTS Support ¢osis Iste note 41 Dirtct Costs Tots]s Direct Charitable AGtivititt c.ost 28.394 39.212 67,606 SUPPORT COSTS Gi>vemance Dire¢t Charitable Activities Cost 39,21• TRUSTEES, REMUNERATION AND BEP4EFITS There were no trustees, ]Emuneration or other benefits for the year ended 30 November 2023 nor for the year ¢Dded 30 November 2022. Trustee5' expertses There were no tTU5tce5' expenses paid for the year ¢nded 30 November 2023 nor for the year ended 30 NovcmbeT 2022. COMPARATIVES FOR THE sfATEMEf4T OF FINANCIAL ACTIVITIES Unrestri¢ted fund INCOME AND ENDOWMENTS FROM Donations and legacies 52,053 EXPENDITURE ON Charitable Aetivltie5 Direct Charitable Activitie5 Cost 36,966 NET INCOME 15,087 RECONCILIATION OF FUNDS Total fund5 bToughi forward 122,832) TOTAL FUNDS CARRIED FORWARD 17,7451 Page 8 ¢onlinued... REDEEMFD CHRISTI,IN CHURC.'H OFGOD NLI'.IV I,11,'I.; C'I,:N'I'III,; 11()1151,: ()I.' PIIAISL NOTESTO THE FINANCIALSTATEMENTS- cuntinued FOR THE YEAR EP4DED 30 NOVEMBER 2023 TANCIBI,E FIXED ASSETS Fixture5 and rJttiThg5 Church Equipment Totals COST At l December 2022 Additions 4,233 2,300 80,226 84,459 2,300 At 30 Novcmber 2023 6,533 80226 86,759 DEPRECIATION At l Dccember 2D22 Charge for y& 3,721 422 79,209 203 82,930 625 At 30 November 2023 4,143 79,412 83,555 PIET BOOKVALUE At 30 November 2023 2,390 814 3204 At 30 Novetnber 2022 512 1,017 1,529 CREDITOILS: AMOUNTS FALLING DUE WITIIIN ONE YLAR 2023 ?0?2 Other ￿edItOrS 25.649 25.300 MOVEMENT IN FUNDS Nct movement in fi]nds At 1.12.22 Ai 30.11.23 UnreslrSetcd funds General 17,7451 (11,860) TOTAL FUNDS 17,7451 111,860) Nei movement in fi]nds, in¢lud¢d in the above are ￿ follows.. Incoming resources Resources expet)ded Movement in funds Unrestricted funds Gencral fund 63,491 167,6061 14,115) TOTAL FUNDS 63,491 (67,6061 14,115) Page 9 continued... REDEEMF.D CHRI.STIAN C"HURCH OF CO NLIV LifE C[￿TRE IIC)II%E QI,- PRAISF.) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEARENDED30NOVEMBER21123 MOVEMENT IN FUNDS- eontinued Compar4tives for movement In thnds Net ovement in funds At .12.21 At 30.11.22 Unre$trieted fund5 General fijnd (22.8321 15,087 17,745) TOTAL FUNDS 122,8321 15.087 17,7451 Comparative net movement in fund5, included in the above are a5 follows.. Incoming resources Rc50UTCCS expended Movcment in funds Unrestrleted funds General fund 52,053 136.9661 15,087 TOTAL FUNDS 52,053 136,1)661 15,087 A current year 12 months and Prior year 12 months ¢ombin¢d position is 8s follows.. Net move￿¢nt in funds At At 30.11.23 Unrestrloted fvnds General fvnd 122.8321 10,972 111,8601 TOTAL FUNDS 122,8321 10,972 A current year 12 months &nd prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resourc& expended Movement in funds Urtrestrirted flln(Ls General fund 115,544 1104.572) 10.972 TOTAL FUNDS 115.544 11 D4,572) 10,972 Pag¢ 10 continued... REDEEMED CHRISTIAY CHURCH OF GOD NTr'IW I.11,-I.; CI,'N-I'III.: LIIOI_ISF: ()I:' I>IIAI.SF.I NOTLS TO THE FtNANCJAL STATEMENTS- Contlnued FOR THE YEAR ENDED 30 NOVEMBER 2023 io. RELATED PARTY DISCLOSURLS There were no relakd paty transactions forthe year ended 30 November 2023. Pagell REDEEMED CHRISTIAN CIIURCH OF GOD !,-Iv i.11.-I,- c'Tr:N I'iti,. (11()Il%b; l)b' IbllAI%I,: DETAILED STATEMENT OF FJNANCIAL ACTIVITIES FOR THEYEAR ENDED30NOVEMBER 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legAcie5 Tithcs and Offcring HMRCGifl aid 45.952 17,539 42.084 9.969 63,491 52.053 Tot81 Ineomlng resources 63,491 52,053 EXPENDITURE ChRritAble activities Welfare and Hospttality RCCG Central Office Guest Ministers & Honorarium 18,794 3,600 6,000 640 1.200 1.000 28.394 2.840 Support costs Govern#tb¢e costs Wa&ies, Stipends and Allowance Rent and Service Charges Telephone Accountancy Priniing, Postage & Stationary Motor. Travel and Transport nsUr0n￿ & 3ubs¢ription Professional le Storage General Running Expens¢$ Intertst & ChaTge5 Youth & Sunday Sch¢)ol Fixtures and fiitings Computer equipment 18,625 3,337 3,327 1.069 14.800 3,600 3,380 840 106 3,929 434 993 4,349 690 461 200 90 254 3.864 469 i.soo 3.190 200 506 2,500 422 203 39,212 34.126 Total resources expended 67,606 36.966 Net {expendltureylneomt 15.087 This page does not form part of the $￿ulOry financial statemenL8 Page l2