THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE Charity reg. no 1106309 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2024 Page I
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE CONTENTS Reference and administrative details of the charity Trustees, report Independent exa miner's report Statement of financial activities Balance sheet 10 Notes to the financial statements 11-14 Page 2
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE REFERENCE AND ADMINISTMTIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDING 31 MARCH 2024 Trustees Pastor l Aleshinloye Mrs. N Anamekwe Pastor K Akinbi Charity registration Number 1106309 Principal Office 10 Beaumont Close Ifield Crawley RHII ORN Pastor in charge Pastor Temitayo Folami Independent Examiner Akintayo Ojo FCCA Resource Management Consultants Ltd 46 Hollywood Way Erith DA8 2QE Bankers Barclays Bank PIC High Street Crawley HSBC PLC 9 The Boulevard Crawley West Sussex RHIO IUT Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE TRUSTEES. REPORT FOR PERIOD ENDED 31 MARCH 2024 The trustees submit their annual report and the financial statements of The Redeemed Christian Church of God Courage Centre (the charity) for the year ending 31 March 2024. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities ISSU in March 2005. STATUS The charity is constituted under a Trust Deed dated 1st October 2004 and was registered in England and Wales with charity number 1106309. APPOIWMENT OF TRUSTEES Recruitment and appointment of trustees are in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be sensitive to the needs and demand of the organization. POUCIES ADOFTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEE'S The induction process for a newly appointed trustee comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Parish Pastor on the powers and responsibilities of the trustees. ORGANISATIONAL STRucfuRE AND DECISION MAKING The charity is organised so that the trustees meet regularly to manage its affairs. All major decisions are collectively taken by the trustees. The trustees are unpaid, and details of any related party transactions are disclosed as applicable in the notes to the account. The Parish Pastor manages the day-to-day administration of the church. RELATED PARTY RELATIONSHIPS The Redeemed Christian Church of God Courage Centre is a parish of The Redeemed Christian Church of God which has parishes all over the world. The parish's relationship with other parishes is governed by an 'Agreement for Common Purposes,. RISK MANAGEMENT The trustees have assessed the major risks to which the charity is exposed, those related to operations and finances of the charity and are satisfied that systems are in place to mitigate our exposures to the major risks. OBJEcfs AND ACFIVITIES The principal object is the advancement of Christian faith worldwide and the relief of poverty, and any charitable purpose at the discretion of the trustees for the benefit of the community. To achieve its objectives, the church adopt8J the following strategies: Page 4
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE TRUSTEES, REPORT (Continued) FOR PERIOD ENDED 31 MARCH 2024 OBJECTS AND AcfIvITIES - continued Running seminars in the church with proven ministers of the faith to guide members in the various aspect of Christian faith, Support for other charities and Christian events, Providing overseas aid and famine relief, and Involving in economic and cornmunity development The activfcies for achieving its objectives include: Community outreach events Conferences and events Welfare support to members and public, and Various missionary activities PUBLIC BENEFIT The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. During the financial period in review, the charity was involved in the following activities as part of its public benefits to the community. Family House Fellowships community outreach and to support families. Providing support to the unemployed in Crawley area through our Christian Against Poverty (CAP) Job Club Centre. Partnership with Compassion UK, a Christian child charity to release children from poverty through sponsorship. Christmas Lunch on Jesus (CLOJ) - 100 Christmas Hampers distributed to support Care homes, homeless and struggling families in Crawley, this includes Crawley Open House, YMCA, Care Homes and other. Weekly Children Bible Club - Community Outreach. Annual Dunamis Men's Conference - creates an enabling environment for every man (professionals/businessmen etc), all generations, to become total men and partner with other men as leaders, as husbands, and as fathers. Men and Women Conference and Seminar Distribution of Devotional materials to care homes, hospitals etc. Online and virtual Bible study and seminars Welfare Support for people out of employment and on low income. GRANT MAKING POLICY The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG Programmes. The church supports other charities and missionary that shares its obj&rts in advancement of Christian faith and relief of poverty. The church gives CaSIOnal grants to congregational members who are in need. Page 5
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE TRUSTEES, REPORT (Continued) FOR PERIOD ENDED 31 MARCH 2024 VOLUNTEERS The church is grateful to the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 2750 hours are provided by volunteers during the year. If this is conservatively valued at £8.50 per hour, the volunteer's effort will amount to over £23,375. REVIEW OF ACTIVITIES The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed. We continue to support Compassion a charity that dedicates itself to the welfare of young children in the impoverished nations of the world. INVESTMENT POLICY The trustees have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts. RESERVES POLICY The trustees, policy Is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended which equals to roughly £15,000 to £30,000 in general funds. They feel that this would enable the current activities to continue if there is a significant drop in funding. It would obviously be neSSary to then consider how the funding would be plaCed or activities changed. The present free reserve is within the policy range, but the trustees are continuing to seek additional unrestrict1 funds to build up its reserves. PRINCIPAL FUNDING Funding has been provided mainly through tithes and offerings by church members and through gift aid. Pledges are also taken for splfIC projects. Donations were received towards the church building project. FUTURE DEVELOPMENT The charity continues to explore various ways of spreading the gospel of Christ in an effettive manner. The Charity plans to increase support for the unemployed by increasing the capacity of the CAP Job Club Centre. It plans to increase the reach of the Support love Christmas Initiative in the community by distributing a minimum of 100 Christmas gift boxes, The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in society. As a way of achieving this, the charity intends to launch Family House Fellowships in three neighbourhoods in Crawley in the coming year. Page 6
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE TRUSTEES, REPORT (Continued) FOR PERIOD ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES, REsPONsIBILIEs The charity trustees are responsible for preparing the Trustees, Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 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,. Select suitable accounting policies and then apply them consistentlyi Observe the methods and principles in the Charities SORP; Make judgement and estimates that are reasonable and prudent; Prepare the financial statement5 on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The trustees recognise their responsibilities to keep 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. They are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The appended financial statements have been prepared on the accruals basis and have been exarnined by an independent examiner, whose report is also appended. Approved by the Trustees on l¥January 2025 and signed on their behalf by: Pastor Isaac Aleshinloye Trustee Page 7
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE INDEPENDENT EXAMINER'S REPORT FOR PERIOD ENDED 31 MARCH 2024 TO THE TRusfEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CEwfRE I report on the accounts of the charity for the year ended 31 March 2024 which is set out on pages 9 to 14. RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER The cha rity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under settion 142(2) of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of Charities Act 2011. follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act). and state whether particular matters have come to my attention. BASIS OF EXAMINER'S sfATEMENT 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. EXAMINER'S sfATEMENT In connection with my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respett the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 41 of the Act). and accounts are prepared which agree with the accounting records and comply with the accounting requirements of Act. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understsnding of the accounts to be reached. Akintsyo Ojo FCCA 46 Hollywood Way Erith Kent DA8 2QE Date: 21 January 2025 Page 8
THE REDEEMED CHRISTIAN CHURCH OF GOD COUF14GE CENTRE STATEMENT OF FINANCIAL AcfIviTIES FOR YEAR ENDED 31 MARCH 2024 Unrestrirted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 Notes INCOMING RESOURCES Donations, legacies & similar Incoming resources Activities In furtherance of charity's object Grants received Other Income Total incoming resources 146,984 1,417 146,984 5,917 90,074 12,631 4,500 23,272 171,673 23,272 176,173 45,674 148,379 4,500 RESOURCES EXPENDED Charitable expenditure Grants payable - indlvidual Grants payable - institutional Costs of actlvities in furtherance of charities objects Management and governance costs Total resources expended 19,105 19,105 11,263 87,821 3,699 110,624 87,821 3,699 110,624 77,923 6,447 95,633 Net (outgoing)/incomlng resources for year 61,048 4,500 65,548 52,746 Total funds at the start of the year 124,287 84,108 208,395 155,649 BALANCE AT END OF YEAR 185,335 88,608 273,943 208,395 Movements in reserves and all recognised and losses are shown above The charlty's incoming resources and resources expended all relate to continulng attivities. Page 9
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE BALANCE SHEEf AS AT 31 MARCH 2024 Notes 2024 2023 FIXED ASSErs Tangible Fixed assets io 2,795 5,104 CURRENT ASSETS Cash and bank balances Debtors li 272,648 207,291 Prepayments 11 272,648 207,291 LIABIUTIES Creditors Accrual: accountancy fees Accrued: Expenses 12 1,500 1,500 2,500 4,000 1,500 NET ASSETS 273,943 208,395 CHARfry FUNDS General unrestricted General restricted TOTAL FUNDS Id le 185,335 88,608 273,943 124,287 84,108 208,395 The 8CCOL*nts have been prepared in accordance vvith the special provision of Statement of Recommended Practice.. Accounting and Reporting by Charities LSORP) issued March 2005 as modifiÈd for smaller charltles Approved by the Trustees on l+ January 2025 signed on their behalf by.. Pastor Isaac Aleshinloye Trustee Page 10
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES (a) The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards. They follow best prattlce as set out in the Statement of Recommended Practice: Accountlng and Reporting by Charitles (SORP) issued March 2005 as modifled for smaller charities. (b) Income and expenditure 15 accounted for on an accruals basis. (c) Fixed assets comprise furniture and equipment and musical equipment and have been costlng more than £lOO. Tangible fixed assets are stated at cost les5 depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less thelr estimated residual value, over their expected useful lives on the following bases.. Musical equipment 250kn reducing balance Furniture's and fittings 250/0 reducing balance Computer equipment 25Wo reducing balance Motor Veh5cles 250/0 reducing balance (d) Unrestricted funds are incoming resources received for the objects of the charity wlthout further specified purpose and are available as general funds. (e) Restritted fiJnds are subjett to re5trittions on their expenditure imposed by their donors. Unrestritted Restritted Total Totsl Funds Funds Funds Funds 2. DONATtONS, LEGACIES AND SIMILAR INCOMING RESOURCES Collection and other donations - UNRESTRICTED Planned giving Special mission event Sundry donations 2024 2024 2024 2023 146,784 146,784 88,444 1,560 70 90,074 200 146,984 200 146,984 3. AcfiviTIES IN FURTHERANCE OF CHARITY'S OBJEcr Building fund First fruits & seeds collection 4,500 4,500 1,417 5,917 12,631 1,417 1,417 4,500 12,631 4. GRAr REIvED Main grants 5. OTHER INCOME Sales of study manual Interest Gift Aid received 485 485 389 22,786 23,272 22,786 23,272 45,286 45,674 Page 11
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 MARCH 2024 Unrestritted Restritted Total Totsl 6. Grants payable - individual Funds Funds Funds Funds 2024 2024 2024 2023 Individual welfare 7. Grants payable - institutional Charitable glving -UK Charitable giving -overseas Tota I 19,105 19,105 11,263 19,105 19,105 11,263 List of institutional grants payable RCCG WEM World Evangelism RCCG Central Office Mission Support Festiva l of life Mission Support Compasslon Charity Support CAP Mission Support RCCG Camp Ground Mission Support Total grant payable - institutional 11,093 1,200 11,093 1,200 8,235 1,300 1,092 720 5,000 19,105 1,092 720 5,000 19,105 1,008 720 11,263 8. COST OF AcfiviTIES IN FURTHERANCE OF CHARITY'S OBJECTS Visiting speakers expenses Semlnar and conferences Travel and subsistence Vehicle running and repair Hall hlre, nt & rates Music, liturgy & church group Community project Mission & evangelism Welfare & hospitality Telephone & internet Postage, stationery & IT consumables Worship cost & church occaslon Printing & publicity Subscriptions Insurance Depreciatlon Sundry expenses Retreat & training Pastors, allowance 3,700 870 4,535 2,265 33,552 8,010 2,270 3,204 3,610 651 714 3,700 870 4,535 2,265 33,552 8,010 2,270 3,204 3,610 651 714 4,104 2,475 513 26,140 10,649 1,670 2,050 3,864 1,713 439 1,790 1,678 620 1,962 2,310 1,365 774 1,790 1,678 620 1,962 2,310 1,365 774 673 326 462 2,912 2,310 503 5,122 12,000 77,923 13,941 87,821 13,941 87,821 Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 MARCH 2024 9. MANAGEMENT AND GOVERNANCE COSTS Unrestritted Restritted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 Adminlstration costs Professional fees Examiner's fees - accountancy 687 1,511 1,500 3,699 687 1,511 1,500 3,699 189 4,758 1,500 6,447 10. TANGIBLE FIXED ASSETS Motor Vehicle Musical Computers Furniture & equipment & projectors fittings Total 31-Mar 2024 Total 31-Mar 2023 Cost At l April 2023 Additions At 31 March 2024 957 12,563 4,519 1,504 19,543 19,543 957 12,563 4,519 1,504 19,543 19,543 Depreciation At l April 2023 Charge for the year At 31 March 2024 957 9,336 1,616 10,952 3,394 318 3,712 752 376 1,128 14,439 2,310 16,749 12,129 2,310 14,439 957 Net book value At 31 March 2024 At 31 March 2023 1,612 3,228 807 376 2,795 5,105 5,104 5,105 1,125 752 11. CASH BALANCES Year ended 31-Mar Year ended 31-Mar 2024 2023 Cash in hand Total uncommitted balances held in all current accounts at period end 272,648 272,648 207,291 207,291 12. DEBTORS AND PREPAYMENT Year ended 31-Mar 2024 Year ended 31-Mar 2023 Debtors Prepayment Page 13
THE REDEEMED CHRISTIAN CHURCH OF GOD COURAGE CENTRE NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 MARCH 2024 13. CREDORs Year ended Year ended 31-Mar 2024 1,500 31-Mar 2023 1,500 2,500 4,000 Accrual: accou nta ncy fees Accrued: professional fees 1,500 14. RELATED PARTY TRANSACTIONS During the year, the church paid institutlonal grants to other RCCG organisations such as the World Evangelism Mission as stated in note 7. 15. STAFF COST AND NUMBERS Staff costs were as follows Year ended 31-Mar 2024 Year ended 31-Mar 2023 Allowances Social security costs 12,000 12,000 12,000 12,000 Year ended 31-Mar 2024 Year ended 31-Mar 2023 The average number of employee during the year was as follows No. No. Pastoral Charity administration Total No employee received remuneration amountlng to more £60,000 In the year. 16. NET INCOMING RESOURCES/(RESOURCES EXPENDED) Year ended 31-Mar 2024 Year ended 31-Mar 2023 This is stated after charging Depreciation of tangible assets owned by the charlty Accountant's fees 2,310 1,500 2,310 1,500 Page 14