RCCG Fountain of Grace
Charity No: 1105604
Report and Financial Statements
Year ended: 1[st] August 2024
1
Table of Content
Legal and administrative information Report from the board of Trustees Report of the Independent examiner
Statement of financial activities
Balance sheet
Notes forming part of the financial statements
2
Redeemed Christian Church of God Fountain of Grace
Administrative details of the Charity for the year ended 1 August 2024
The organisation is a registered Charity and is governed by its constitution.
General Overseer
Pastor E. A. Adeboye
Board of Trustees
Prof Olumayokun Olajide – Chair, Board of Trustees Dr Kenny Fatosin- Member Mrs Idah Ogunbusola- Member
Minister in charge
Pastor Emmanuel Jones
Charity number 1105604
Registered Office
St John Square St. Johns Cloisters Wolverhampton WV2 4AT
3
Report of the Trustees for the Year Ending 1[st] August 2024
The Board of Trustees presents their report and the financial statement for the Year ended 1[st] August 2024.
The Trustees confirm that the financial statement have been prepared in Accordance with the accounting policies set out below and compliance with the Charity trust deed and the recommendations of the Statement of Recommended Practice, Accounting and Reporting by Charities and complies with the applicable law
Principal Objectives and Performances
The organisation is a registered Charity and was set up by a Trust Deed executed on the 10[th] of August 2004, A summary of the organisation's stated objects is "The Advancement of the Christian Faith Worldwide and relief of poverty"
The mission statement guiding our work is to:
Help all people move towards whole person maturity, and to build a church where friendship, trust, and loyalty are valued.
Board of trustees
The organisation is governed by a Board of Trustees headed by Prof Olumayokun Olajide, the members served on the council throughout the year under review are named above
Financial Reviews
This financial support from members has enabled the church/Charity to support several Christian organisations, charities and visiting ministers as well as meeting other charitable objectives. The present level of funding is adequate to support the continuation of the church objectives.
The Charity is also aware of the need to have a documentary policy in place regarding reserve; this is currently under review by the trustees. In accordance with guidelines issued by the Charity Commission, the Board of Trustees has adopted and continues to ensure a policy regarding the use of donations. This policy continues to ensure that the Charity has sufficient funds to meet all current and known future liabilities. The amount of donations from members for the building fund continues to be kept as restricted income as reflected in the balance sheet.
Activities of the Charity for the Year Ending 1[st] August 2024
The Charity’s activities have now returned to pre-pandemic levels. This has seen a complete return of activities focusing on young people and children.
4
The Charity hosted the National Children’s Day in May 2024 which saw children engaging in a few fun activities including movies, games and other outdoors activities. These activities continue to benefit children within the Wolverhampton community.
The renovation of parts of the church building which was completed in 2023 contributed to the diversification of the activities of the Charity in 2024. Some of the renovated areas are now used for activities involving children and teenagers.
The Charity continued to host personal development programmes for the Youth and Young adults in the community. In the year under review, weekly empowerment and self-development activities including leadership seminars, confidence building workshops, career development and mental health seminars were organised for these groups.
The Charity continues to be active in carrying out outreach programmes, including evangelism and other activities aimed at providing spiritual support to members of the community. The Charity hosted the annual Phenomenal Growth Conference (PGC) between 19[th] and 21[st] July 2024.
In summary, The Board of Trustees conclude that the performance of the Charity has been satisfactory in terms of advancement of the Christian faith.
Future Plans
The Charity plans to continue in engaging in activities highlighted above. Other activities that are planned after the end of the pandemic include:
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A scheme to contribute towards supporting homeless people in Wolverhampton, through donations of clothing and other essential materials.
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Visit to orphanages and prisons.
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Strengthening counselling sessions, developing biblical principles, organising leadership seminars, economic empowerment, impacting Entrepreneurship skills.
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The Charity will continue to support African mission, an aid relief agency to underprivileged people in Africa. The Charity will also continue to actively support the World Evangelical Mission, which is involved in furthering the Christian faith all over the world.
5
Political and Charitable Activities
The Charity did not make any political or charitable donation during the financial Year, its major activity during the year was just the preaching of the gospel.
Public Benefit
The Charity acknowledges its requirement to demonstrate clearly that it must Have charitable purposes or ‘aims’ that are for the public benefit. Details of how the Charity has achieved this are provided in this report.
The Trustees confirm that they have paid due regard to the Charity Commission Guidance on public benefit before deciding what activities the Charity should Undertake.
Risk Management
The trustees actively review the major risks which the Charity faces on a regular Basis. The trustees have examined the major strategic, business and operational risks which the Charity faces and confirms that systems are in place for regular reports to be produced so that steps can be taken to mitigate these risks.
Related Party Transaction
RCCG, Fountain of Grace is a member of the Redeemed Christian Church of God (RCCG) with parishes all over the world. The relationship is governed by an “Agreement for Common Purposes” between the Charity and RCCG.
On behalf of the Charity
These financial statements were approved by the Board on 20[th] August 2021, and the he notes form part of the financial statements.
Prof Olumayokun Olajide
4[th ] July 2025
Chair, Board of Trustees
6
Charity registration number: 1105604
RCCG Fountain of Grace
Annual Report and Financial Statements for the Year Ended 1 August 2024
RCCG Fountain of Grace
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Statement of Trustees' Responsibilities | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 16 |
RCCG Fountain of Grace
Reference and Administrative Details
Chairman Prof Olumayokun Olajide Trustees Mrs Idah Ogunbusola Dr Kenny fatosin Charity Registration Number 1105604 Principal Office St. Johns Square Wolverhampton WV2 4AT
Page 1
RCCG Fountain of Grace
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained 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 continue in business.
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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 04 July 2025 and signed on its behalf by:
......................................... Prof Olumayokun Olajide Chairman
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RCCG Fountain of Grace
Independent Examiner's Report to the trustees of RCCG Fountain of Grace
I report to the trustees on my examination of the accounts of RCCG Fountain of Grace for the year ended 1 August 2024.
Responsibilities and basis of report
As the charity trustees of RCCG Fountain of Grace 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 RCCG Fountain of Grace's accounts carried out under section 145 of the 2011 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of RCCG Fountain of Grace as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
Deborah Igbinosa 04 July 2025
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RCCG Fountain of Grace
Statement of Financial Activities for the Year Ended 1 August 2024
| Note Income and Endowments from: Donations and legacies Investment income 3 Total income Expenditure on: Raising funds Charitable activities Other expenditure 6 Total expenditure Net expenditure Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 Note Income and Endowments from: Donations and legacies Investment income 3 Total income Expenditure on: Raising funds Charitable activities Other expenditure 6 Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted funds £ 106,318 14,411 120,729 (101,379) (37,002) (12,347) (150,728) (29,999) 94,311 64,312 124,475 188,787 Unrestricted funds £ 89,101 19,551 108,652 (188,595) (35,972) (9,421) (233,988) (125,336) (125,336) 249,811 124,475 |
Total 2024 £ 106,318 14,411 |
|---|---|---|
| 120,729 | ||
| (101,379) (37,002) (12,347) |
||
| (150,728) | ||
| (29,999) 94,311 |
||
| 64,312 124,475 |
||
| 188,787 | ||
| Total 2023 £ 89,101 19,551 |
||
| 108,652 | ||
| (188,595) (35,972) (9,421) |
||
| (233,988) | ||
| (125,336) | ||
| (125,336) 249,811 |
||
| 124,475 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 16.
The notes on pages 6 to 16 form an integral part of these financial statements.
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RCCG Fountain of Grace
(Registration number: 1105604) Balance Sheet as at 1 August 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 12 | 220,000 | 220,000 |
| Current assets | |||
| Cash at bank and in hand | 13 | 31,786 | 62,378 |
| Creditors: Amounts falling due within one year | 14 | 1 | (3,580) |
| Net current assets | 31,787 | 58,798 | |
| Total assets less current liabilities | 251,787 | 278,798 | |
| Creditors: Amounts falling due after more than one year | 15 | (63,000) | (154,323) |
| Net assets | 188,787 | 124,475 | |
| Funds of the charity: | |||
| Unrestricted income funds | |||
| Unrestricted funds | 188,787 | 124,475 | |
| Total funds | 16 | 188,787 | 124,475 |
The financial statements on pages 4 to 16 were approved by the trustees, and authorised for issue on 04 July 2025 and signed on their behalf by:
......................................... Prof Olumayokun Olajide Chairman
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RCCG Fountain of Grace
The notes on pages 6 to 16 form an integral part of these financial statements.
Statement of Financial Activities for the Year Ended 1 August 2024
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
RCCG Fountain of Grace meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
Debt instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| Regular giving and capital donations Total for 2024 Total for 2023 |
Unrestricted funds General £ 106,318 106,318 89,101 |
Total funds £ 106,318 |
||
|---|---|---|---|---|
| 106,318 | ||||
| 89,101 |
3 Investment income
| Other investment income Total for 2024 Total for 2023 |
Unrestricted funds General £ 14,411 14,411 19,551 |
Total funds £ 14,411 |
||
|---|---|---|---|---|
| 14,411 | ||||
| 19,551 |
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
4 Expenditure on raising funds
a) Costs of trading activities
| Note Other direct costs of activities for generating funds Total for 2024 Total for 2023 b) Investment management costs Note Allocated support costs Total for 2024 Total for 2023 5 Expenditure on charitable activities Note Governance costs Total for 2024 Total for 2023 |
Unrestricted funds General £ 18,350 18,350 115,000 Unrestricted funds General £ 50,029 50,029 38,845 Unrestricted funds General £ 686 2,300 9,200 24,816 37,002 35,972 |
Total funds £ 18,350 |
||
|---|---|---|---|---|
| 18,350 | ||||
| 115,000 | ||||
| Total funds £ 50,029 |
||||
| 50,029 | ||||
| 38,845 | ||||
| Total costs £ Total funds £ 686 2,300 9,200 24,816 |
||||
| 37,002 | ||||
| 35,972 |
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
Total expenditure £
6 Other expenditure
| Note Staff costs Wages and salaries Social security Total for 2024 Total for 2023 |
Unrestricted funds General £ 9,312 3,035 12,347 9,421 |
Total funds £ 9,312 3,035 |
||
|---|---|---|---|---|
| 12,347 | ||||
| 9,421 |
7 Analysis of governance and support costs
Governance costs
| Other governance costs Allocated support costs Total for 2024 Total for 2023 |
Unrestricted funds General £ 1,862 22,954 24,816 22,664 |
Total funds £ 1,862 22,954 |
||
|---|---|---|---|---|
| 24,816 | ||||
| 22,664 |
8 Net incoming/outgoing resources
Net incoming/(outgoing) resources for the year include:
2024 £
9 Trustees remuneration and expenses
10 Staff costs
The aggregate payroll costs were as follows:
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
| Staff costs during the year were: Wages and salaries Social security costs |
2024 £ 42,312 3,035 45,347 |
2023 £ 40,401 3,770 |
||
|---|---|---|---|---|
| 44,171 |
No employee received emoluments of more than £60,000 during the year
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
12 Tangible fixed assets
| 12 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost At 2 August 2023 At 1 August 2024 Depreciation At 1 August 2024 Net book value At 1 August 2024 At 1 August 2023 13 Cash and cash equivalents Cash at bank 14 Creditors: amounts falling due within one year Trade creditors Other creditors 15 Creditors: amounts falling due after one year Bank loans Other loans |
Land and buildings £ 220,000 |
Total £ 220,000 220,000 - 220,000 220,000 2023 £ 62,378 |
||
| 220,000 - |
||||
| 220,000 | ||||
| 220,000 | ||||
| 2024 £ 31,786 2024 £ - (1) (1) 2024 £ - 63,000 63,000 |
||||
2023 £ 3,580 - |
||||
| 3,580 | ||||
| 2023 £ 84,323 70,000 |
||||
| 154,323 |
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
| 16 Funds Balance at 2 August 2023 Incoming resources Resources expended Transfers £ £ £ £ Unrestricted funds General 124,475 120,729 (150,728) 94,311 Balance at 2 August 2022 £ Incoming resources £ Resources expended £ Unrestricted funds General 249,811 108,652 (233,988) 17 Analysis of net assets between funds Unrestricted funds General £ Tangible fixed assets 220,000 Current assets 31,786 Current liabilities 1 Creditors over 1 year (63,000) Total net assets 188,787 Unrestricted funds General £ Tangible fixed assets 220,000 Current assets 62,378 Current liabilities (3,580) Creditors over 1 year (154,323) Total net assets 124,475 18 Analysis of net funds At 2 August 2023 £ Cash at bank and in hand 62,378 Net debt 62,378 |
Transfers £ 94,311 |
Balance at 1 August 2024 £ 188,787 Balance at 1 August 2023 £ 124,475 |
|---|---|---|
| Total funds at 1 August 2024 £ 220,000 31,786 1 (63,000) |
||
| 188,787 | ||
| Total funds at 1 August 2023 £ 220,000 62,378 (3,580) (154,323) |
||
| 124,475 | ||
| At 1 August 2024 £ 62,378 |
||
| 62,378 |
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RCCG Fountain of Grace
Notes to the Financial Statements for the Year Ended 1 August 2024 (continued)
| Cash at bank and in hand Net debt |
At 2 August 2022 £ 117,714 117,714 |
At 1 August 2023 £ 117,714 |
|---|---|---|
| 117,714 |
19 Related party transactions
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RCCG Fountain of Grace
Statement of Financial Activities by fund for the Year Ended 1 August 2024
| Income and Endowments from: Donations and legacies Investment income Total income Expenditure on: Raising funds Charitable activities Other expenditure Total expenditure Net expenditure Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Unrestricted Funds 2024 £ 106,318 14,411 120,729 (101,379) (37,002) (12,347) (150,728) (29,999) 94,311 64,312 124,475 188,787 |
Total Unrestricted Funds 2023 £ 89,101 19,551 |
|---|---|---|
| 108,652 | ||
| (188,595) (35,972) (9,421) |
||
| (233,988) | ||
| (125,336) - |
||
| (125,336) 249,811 |
||
| 124,475 |
This page does not form part of the statutory financial statements. Page 17
RCCG Fountain of Grace
Detailed Statement of Financial Activities for the Year Ended 1 August 2024
| Income and Endowments from: Donations and legacies (analysed below) Investment income (analysed below) Total income Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) Other expenditure (analysed below) Total expenditure Net expenditure Gross transfers between funds (analysed below) Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2024 £ 106,318 14,411 120,729 (101,379) (37,002) (12,347) (150,728) (29,999) 94,311 64,312 124,475 188,787 |
Total 2023 £ 89,101 19,551 108,652 (188,595) (35,972) (9,421) (233,988) (125,336) - (125,336) 249,811 124,475 |
|---|---|---|
This page does not form part of the statutory financial statements. Page 18
RCCG Fountain of Grace
Detailed Statement of Financial Activities for the Year Ended 1 August 2024 (continued)
| Donations and legacies Committed giving Investment income Gift aid payments from group undertakings Raising funds Building repairs Wages and salaries Staff training Staff welfare Rent Light, heat and power Insurance Repairs and maintenance Telephone and fax Office expenses Printing, postage and stationery Charitable donations Sundry expenses Cleaning Travel and subsistence Advertising Staff Entertaining Other services Legal and professional fees Charitable activities Evangelism and Events World Evangelical Mission Children, Youth & Choir Loan interest Office Equipment RCCG Central Office Mortgage |
Total 2024 £ 106,318 106,318 14,411 14,411 (18,350) (33,000) (287) (3,883) (282) (7,697) (1,656) (4,088) (1,553) (6,503) (729) (820) (862) (3,050) (340) (7,034) (5,340) (3,200) (2,705) (101,379) (686) (9,200) (2,300) (1,862) (850) (1,200) (20,904) (37,002) |
Total 2023 £ 89,101 89,101 19,551 19,551 (115,000) (34,750) - (4,020) (1,200) (5,720) (1,582) (4,500) (544) (2,162) (650) (4,129) (550) (1,697) (1,085) (4,826) (2,680) (3,000) (500) (188,595) (192) (10,907) (2,209) - (1,000) (1,200) (20,464) (35,972) |
|---|---|---|
This page does not form part of the statutory financial statements. Page 19
RCCG Fountain of Grace
Detailed Statement of Financial Activities for the Year Ended 1 August 2024 (continued)
| Other expenditure Honorarium Stipends Conference Transfers between funds Funds - Transfer from another fund |
Total 2024 £ (5,712) (3,600) (3,035) (12,347) 94,311 |
Total 2023 £ (2,351) (3,300) (3,770) |
|---|---|---|
| (9,421) | ||
| - |
This page does not form part of the statutory financial statements. Page 20
RCCG Fountain of Grace
Independent Examiner's Report to the trustees of RCCG Fountain of Grace
I report to the trustees on my examination of the accounts of RCCG Fountain of Grace for the year ended 1 August 2024.
Responsibilities and basis of report
As the charity trustees of RCCG Fountain of Grace 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 RCCG Fountain of Grace's accounts carried out under section 145 of the 2011 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of RCCG Fountain of Grace as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
Deborah Igbinosa 04 July 2025