REGISTERED CHARITY NUMBER: 1104064
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Report of the Trustees and Financial Statements for the year ended 31 March 2025
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE Contents of the Financial Statements
For the year ended 31 March 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Report of the Trustees
For the year ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1104064
Registered office
5 Great Conduit Welwyn Garden City Hertfordshire AL7 2DH
Trustees
-
Ibukun Ajayi
-
Niyi Murele
-
Babatunde Joseph
Independent Examiner
Tunji Ogedengbe 36 Daffodil Close Hatfield Herts AL10 9FF
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
RCCG Fountain of Life is registered as a Charity under its Trust deed dated 17th May 2004.
Tax status
As a registered charity, number 1104064, RCCG Fountain of Life is exempt from corporation tax and income tax on its charitable activities.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Report of the Trustees
For the year ended 31 March 2025
FINANCIAL REVIEW
Total income received during the year is £99,456 and total expenditure during the year £ 90,488. As a result, a profit of £ 8,968 has been generated and added to reserves.
Reserves policy
The Trustees' policy is to maintain a sufficient level of general reserves to enable the Charity to continue in normal existence for three months, followed by an orderly curtailment of activities over the following three months if necessary.
It is the aim of the Trustees to review this policy on an annual basis. The Trustees therefore aim to hold up to six months of expenditure as unrestricted funds.
Public benefit statement
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.
Reference and administrative details
The principal addresses and details of professional advisers are included in the information sheet at the front of these accounts.
Trustees' responsibilities in relation to financial statements
The law applicable to Charities in England and Wales 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 of the Charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments’ and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained
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in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
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continue in operation.
The Trustees are responsible for keeping proper accounting records that 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 Act 2011, 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.
Approved by the Trustees on 20th January 2026 and signed on their behalf by: Ibukun Ajayi
Page 2
Independent Examiner's Report to the Trustees of REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE For the year ended 31 March 2025
I report on the accounts for the year ended 31 March 2025 set out on pages four to nine. Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income does not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of FCCA. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the 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 you as 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 statements below. Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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.
Tunji Ogedengbe 36 Daffodil Close Hatfield Herts AL10 9FF
Date: 20th January 2026
Page 3
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Statement of Financial Activities
For the year ended 31 March 2025
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Gift Aid 2 Other Income Total incoming resources RESOURCES EXPENDED Cost of generating income Charitable activities Governance costs Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Prior year adjustment Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2025 2025 2025 2024 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 78,947 78,947 81,190 20,509 20,509 18,769 - - - |
|---|---|
| 99,456 - 99,456 99,958 |
|
| 86,428 86,428 98,704 4,060 4,060 4,045 |
|
| 90,488 - 90,488 102,749 |
|
| 8,968 - 8,968 2,790 - 55,011 55,011 57,801 |
|
| 63,979 - 63,979 55,011 |
Page 4
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Balance Sheet
As At 31 March 2025
| 2025 | 2025 | 2025 | 2024 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 5 | 6,004 | 6,004 | 14,628 | |
| CURRENT ASSETS | |||||
| Debtors: amounts falling due within one year | 6 | - | - | - | |
| Cash in hand | 58,325 | 58,325 | 40,733 | ||
| Total Asset | 64,329 | - | 64,329 | 55,361 | |
| CREDITORS | |||||
| Amounts falling due within one year | 7 | 350 | 350 | 350 | |
| NET CURRENT ASSETS/(LIABILITIES) | 57,975 | - | 57,975 | 40,383 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 63,979 | - | 63,979 | 55,011 | |
| CREDITORS | |||||
| Amounts falling due after more than one year | 8 | - | - | - | |
| NET ASSETS | 63,979 | - | 63,979 | 55,011 | |
| FUNDS | 9 | ||||
| Unrestricted funds | 63,979 | - | 63,979 | 55,011 | |
| Restricted funds | |||||
| TOTAL FUNDS | 63,979 | - | 63,979 | 55,011 |
The notes on pages 6 -10 form part of this financial statement.
These accounts were approved by the trustees on 20th January 2026 and were signed on their behalf by Ibukun Ajayi
Page 5
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Notes to the Financial Statements For the year ended 31 March 2025
1. ACCOUNTING POLICIES Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
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.
Resources expended
Expenditure is accounted for on an accruals 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Fixtures and fittings | -25% on reducing balance |
|---|---|
| Motor vehicles | -25% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
| Fund accounting | |||
|---|---|---|---|
| Unrestricted funds can be used in accordance with the | charitable objectives at the discretion of the trustees. | ||
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. | |||
| Restrictions arise when specified by the donor or when | funds are raised for particular restricted purposes. | ` | |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. | |||
| 2. INVESTMENT INCOME | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Bank interest receivable | 0 | 0 | |
| 3. NET INCOMING/(OUTGOING) RESOURCES | 2025 | 2024 | |
| £ | £ | ||
| Net resources are stated after charging/(crediting): | 8,968 |
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REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Notes to the Financial Statements - continued For the year ended 31 March 2025
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 Mar 2025
Trustees' Expenses
There were no trustees' expenses paid neither for the year ended 31 Mar 2025
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2024 Additions during year At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Instrument Van Equipment Total £ £ £ £ £ 811 28,049 25,306 54,166 - - - |
|---|---|
| 811 28,049 25,306 - 54,166 |
|
| 659 21,168 17,711 39,538 152 4,675 3,798 8,624 - |
|
| 811 25,843 21,509 - 48,162 |
|
| - 2,206 3,798 6,004 152 6,881 7,595 14,628 |
6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| 6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |
|---|---|
| Debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2025 2024 £ £ |
| 2025 2024 £ £ 350 350 |
|
| 350 350 |
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REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Notes to the Financial Statements - continued For the year ended 31 March 2025
8 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 £ -
| Mortgage Finance lease MOVEMENT IN FUNDS Unrestricted funds Unrestricted funds Restricted funds Restricted TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
- Net movement in At 31/03/24 funds At 31/03/25 £ £ 55,011 8,968 63,979 |
|---|---|
| 55,011 8,968 63,979 |
|
| Incoming Resources Movement resources expended £ £ 99,456 90,488 8,968 |
|
| 99,456 90,488 8,968 |
9 MOVEMENT IN FUNDS
Page 9
REDEEMED CHRISTIAN CHURCH OF GOD FOUNTAIN OF LIFE
Detailed Statement of Financial Activities for the year ended 31 March 2025
| INCOMING RESOURCES Voluntary income Tithes & Offering Gift -Aid Total incoming resources RESOURCES EXPENDED Charitable activities Charity donation Mission Central Office WEM Regional/Province contribution Costs of generating income Rent Building Repair/Refurbishment Van expenses Conference Transportation costs Bank Charges Storage Staff costs Admin support costs Outreach Church Equipment Telephone Ministry accomodation Stationary & Printing Hospitality Depreciation Insurance Utilities Professional fees Media services Honourarium Other Training Cleaning Carried forward Total resources expended |
2024 2024 £ £ 78,947 81,190 20,509 18,769 |
|---|---|
| 99,456 99,958 - 1,865 480 480 600 600 1,300 1,100 1,680 - |
|
| 4,060 4,045 |
|
| 14,300 20,500 3,840 3,219 - 690 1,892 1,657 448 4,934 - 51 420 790 2,245 - 31,750 15,000 232 91 4,059 3,850 439 4,407 1,999 2,008 - 20,500 37 400 2,502 4,012 8,624 4,675 2,757 2,598 2,682 3,756 6,814 2,213 401 244 500 2,650 200 - - 389 288 70 |
|
| 86,428 98,704 |
|
| 90,488 102,749 |
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