Charity Registration Number : 1103974 ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** FOR THE YEAR ENDED 30 NOVEMBER 2024 |**Trustees**|SUNDAY ADEWALE AFOLABI| |---|---| ||ANTHONY OMOMIA| ||OLURANTI AKINSEYE| ||FELICIA DEPE AJAYI| |**Charity Number**|1103974| |**Registered Ofce**|19 ATLANTIC CLOSE| ||KENT| ||DA10 0LJ| |**Bankers**|Barclays Bank PLC| ||Leicester| ||LE87 2BB| |**Independent Examiner**|Abudey & Company| ||First Floor| ||14-16 Powis Street| ||Woolwich| ||SE18 6LF| ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **CONTENTS** FOR THE YEAR ENDED 30 NOVEMBER 2024 Trustees' Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **TRUSTEES' REPORT** ## FOR THE YEAR ENDED 30 NOVEMBER 2024 The trustees present their annual report and financial statements for the year ended 30 November 2024 . The trustees present their report with the financial statements of the charity for the year ended 30 November 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## OBJECTIVES AND ACTIVITIES Objectives and aims a) Policies and Objectives The objects of the Charity are :- 1) the advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in Schedule 2) the relief of poverty Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission's general guidance on Public Benefit in particular its supplementary public guidance on the advancement of religion for public benefit. ## b) Strategies for achieving objectives The church has adopted the following strategies for achieving the above objectives: ** organisation of seminars in the church with proven speakers and ministers of faith to guide members in various aspects of the christian faith ** support for other charities christian events ** setting up different internal departments to minister to the members and outsides in various outreaches and family park events and youth activities to affect our community positively. The charity has also supported the RCCG , Habitation of Hope to give Hope to hope to the street children in Africa by helping to build schools and shelters for the street boys. Significant activities for achieving objectives i) Sunday Service ii) Community outreach events iii) Provision of welfare support for members iv) Opening of new branches ## ACHIEVEMENT AND PERFORMANCE Charitable activities ** General charitable purposes ** The prevention or relief of poverty - ** Overseas aid/famine relief ** Accommodation /housing ** Religious activities ## Investment performance The trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangement should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts. ## FINANCIAL REVIEW ## Reserves policy The Commission requires charities to determine and explain their policy for reserves. The trustees have reviewed its free reserve policy and have turned its entire free unrestricted fund into an emergency fund to enable RCCG (House of Praise) to meet its obligations in event of a shortfall in income or sudden upturn in expenditure. Furthermore the trustees meet quarterly to review their reserve level. If the value of the reserves falls below a level unacceptable to the trustees, then appropriate action will be taken immediately to rectify the situation. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Page 1 of 8 ## Recruitment and appointment of new trustees Trustees' are appointed by a resolution of existing trustees and co-opted under the terms of the Trust Deed. A board of trustees' (The Management) make up of five members, currently administers the charity. Each trustee is required to assent to the doctrinal basis of the trust. ## Organisational structure and decision making The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees. ## Connected Charities The charity is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes' Under the Common Purposes Agreement, the charity has agreed to make an annual contribution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. the church also provides support to members of the congregation (at the discretion of the trustees) who are in need. ## PUBLIC BENEFIT The charity has continued to provide benefits to the public in the manner describe below. 1. Organising Sunday Service for religious worship and teaching 2. Organising Community outreach events and Evangelism 3. Provision of welfare support for members - 4 Opening of new branches for spreading the good news of Jesus Christ This report was approved by the trustees and signed on its behalf by: ---------------------------------------------------- ## **SUNDAY ADEWALE AFOLABI** ## **Trustee** Date : 22 October 2025 Page 2 of 8 ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **INDEPENDENT EXAMINER'S REPORT** ## FOR THE YEAR ENDED 30 NOVEMBER 2024 Independent Examiner’s Report to the Trustees of Rccg New Life Centre (House Of Praise) I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 30 November 2024 which consists of the statement of financial activities,balance sheet and the related notes ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act') I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner's Statement** The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of AIA I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Name: Symon Abudey for and on behalf of Abudey & Company Date: 23 October 2025 Page 3 of 8 ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **STATEMENT OF FINANCIAL ACTIVITIES** FOR THE YEAR ENDED 30 NOVEMBER 2024 |**Recommended categories**
**by activity**
**Notes**
**Income and endowments**
**from:**
Donations and legacies
2
**Total**
**Expenditure on:**
Raising funds
Charitable activities
3
Other
5
**Total**
**Net income/(expenditure)**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted funds**
**£**
46,397
**46,397**
27,419
26,604
-
**54,023**
**(7,626)**
**(7,626)**
(11,860)
**(19,486)**|**Total Funds 2024**
**£**
46,397
**46,397**
27,419
26,604
-
**54,023**
**(7,626)**
**(7,626)**
(11,860)
**(19,486)**|**Total Funds 2023**
**£**
63,490| |---|---|---|---| ||||**63,490**| ||||34,723
32,258
625| ||||**67,606**| ||||**(4,116)**| ||||**(4,116)**
(7,744)| ||||**(11,860)**| Page 4 of 8 ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **BALANCE SHEET** FOR THE YEAR ENDED 30 NOVEMBER 2024 |**Recommended categories by**
**activity**
**Notes**
Fixed assets
Tangible assets
6
**Total fxed assets**
Current assets
Cash at bank and in hand
7
**Total current assets**
Creditors: amounts falling due within
one year
8
**Net current assets/(liabilities)**
Total net liabilities
**Funds of the Charity**
Unrestricted funds
9
Restricted income funds
9
Endowment funds
9
**Total funds**|**Total Funds 2024**
**£**
3,204
**3,204**
3,779
**3,779**
26,470
**(22,691)**
(19,487)
(19,486)
-
-
**(19,486)**|**Total Funds 2023**
**£**
3,204| |---|---|---| |||**3,204**| |||10,585
**10,585**
25,649
**(15,064)**
(11,860)
(11,860)
-
-| |||**(11,860)**| The financial statements were approved by the trustees on 22 October 2025 and signed on its behalf by: ## **SUNDAY ADEWALE AFOLABI** ## **Trustee** Date : 22 October 2025 Page 5 of 8 ## **RCCG NEW LIFE CENTRE (HOUSE OF PRAISE)** ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 30 NOVEMBER 2024 ## **1. Accounting Policies** The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. ## **1.1 Basis of preparation** These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. These accounts are presented in pounds sterling and rounded to the nearest pound. ## **1.2 Going concern** The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts. ## **2. Income from Donations and Legacies** |**Analysis**
**Unrestricted funds**
**£**
HMRC Gift aid
-
Tithes and Ofering
46,397
**Total**
**46,397**
**3. Expenditure on Charitable Activities**
**Analysis**
Welfare and Hospitality
RCCG Central Ofce
Guest Ministers & Honorarium
Motor Travel and Transport
Total||**Total funds 2024**
**£**
-
46,397
**46,397**
**Total funds 2024**
**£**
7,660
1,200
3,700
14,044
26,604|**Total funds 2023**
**£**
17,539
45,951| |---|---|---|---| ||||**63,490**| ||||**Total funds 2023**
**£**
18,794
3,600
6,000
3,864
32,258| |||**26,604**
**32,258**|| ## **3. Expenditure on Charitable Activities** Page 6 of 8 ## **4. Support Costs** |**Analysis**
**Support Costs**
Pension
Wages Stipends and Allowance
Rent and Service Charges
Telephone
Accountancy
Insurance & subscription
Professional fees
Storage
General Running Expenses
Interest & Charges
Youth & Sunday School|**Total funds 2024**
**£**
204
17,917
2,507
3,038
1,069
472
-
-
1,670
542
-|**Total funds 2023**
**£**
-
18,625
3,337
3,327
1,069
469
1,500
3,190
200
506
2,500| |---|---|---| ||**27,419**
**34,723**|| ## **5. Other Expenditure** |**Analysis**
Fixtures & fttings & Chairs - Depreciation Charge for the Year
Church Equipment - Depreciation Charge for the Year
**Total**|**Total funds 2023**
**£**
422
203| |---|---| ||**625**| ## **6. Tangible Fixed Assets** |**6.1 Cost or valuation**
At 01 December 2023
Additions
Disposals
Revaluations
Transfers
At 30 November 2024
**6.2 Depreciation and impairments**
At 01 December 2023
Charge for the year
Disposals
Revaluations
Transfers
At 30 November 2024
**6.3 Net book value**
At 01 December 2023
At 30 November 2024|**Fixtures &**
**fttings & Chairs**
**£**
6,533
-
-
-
-|**Church**
**Equipment**
**£**
80,226
-
-
-
-| |---|---|---| ||**6,533**|**80,226**| ||4,143
-
-
-
-|79,412
-
-
-
-| ||**4,143**|**79,412**| ||2,390|814| ||**2,390**|**814**| Page 7 of 8 ## **7. Cash at bank and in hand** |**Total funds 2024**
**£**
Bank Account 70043842
2,347
Bank Account 73599485
1,432
**Total**
**3,779**
**8. Creditors: Amounts falling due within one year**
**Total funds 2024**
**£**
Nest
544
Accrued expenses
4,926
Rent Owed
21,000
**Total**
**26,470**|**Total funds 2023**
**£**
5,228
5,357| |---|---| ||**10,585**| ||**Total funds 2023**
**£**
-
4,649
21,000| ||**25,649**| ## **8. Creditors: Amounts falling due within one year** ## **9. Charity funds** ## **9.1 Details of material funds held and movements during the CURRENT reporting period** |**Fund names**
**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
**Unrestricted**
**funds**
**General Fund**
-
46,397
54,024
-
-
(7,627)
**Surplus and**
**defcit account**
(11,860)
-
-
-
-
(11,860)
**(11,860)**
**-**
**-**
**-**
**-**
**(11,860)**
**Total**
**(23,720)**
**46,397**
**54,024**
**-**
**-**
**(31,347)**
**9.2 Details of material funds held and movements during the PREVIOUS reporting period**
**Fund names**
**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
**Unrestricted**
**funds**
**(7,744)**
**63,490**
**67,605**
**-**
**-**
**(11,860)**
**Total**
**(7,744)**
**63,490**
**67,605**
**-**
**-**
**(11,860)**|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
46,397
54,024
-
-
(7,627)
(11,860)
-
-
-
-
(11,860)|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
46,397
54,024
-
-
(7,627)
(11,860)
-
-
-
-
(11,860)|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
46,397
54,024
-
-
(7,627)
(11,860)
-
-
-
-
(11,860)|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
46,397
54,024
-
-
(7,627)
(11,860)
-
-
-
-
(11,860)|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
46,397
54,024
-
-
(7,627)
(11,860)
-
-
-
-
(11,860)|**Fund**
**balances**
**brought**
**forward**
**Income**
**Expenditure**
**Transfers**
**Gains and**
**losses**
**Fund**
**balances**
**carried**
**forward**
**£**
**£**
**£**
**£**
**£**
**£**
-
46,397
54,024
-
-
(7,627)
(11,860)
-
-
-
-
(11,860)| |---|---|---|---|---|---|---| ||**(11,860)**
**-**||**-**|**-**|**-**|**(11,860)**| |||||||| ||**(23,720)**
**46,397**
**54,024**
**-**||||**-**|**(31,347)**| ||**(7,744)**
**63,490**
**67,605**
**-**||||**-**|**(11,860)**| |||||||| ||**(7,744)**
**63,490**
**67,605**
**-**||||**-**|**(11,860)**| Page 8 of 8