**Charity Number: 1106676**
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
**FOR THE PERIOD 1ST JANUARY to 31ST DECEMBER 2020**
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
|**CONTENTS**||
|---|---|
||Page|
|**References and administrative details of the charity, its trustees and advisers**|3
|
|**Trustees' report**|4|
|**Independent examiner's report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8-11|
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTESS AND ADVISERS FOR THE PERIOD 31st December 2020**
|**General Overseer**|Pastor E A Adeboye|
|---|---|
|**Trustees**|Mr Kayode Tanimowo|
||Mr Babadamilola Siyanbola, Secretary|
||Mrs Olayinka Bazuaye, Treasurer|
||Mrs Omoghene Helen Igbineweka|
||Mr Olajide Alabi, Chair|
|**Minister In Charge**|Pastor Babakolade Siyanbola|
|**Charity registration no**|1106676|
|**Principal office**|26 Sheriff Way|
||Watford|
||WD25 7QG|
|**Independent Examiner**|Tunji Ogedengbe|
||36 Daffodil Close|
||Hatfield|
||AL10 9FF|
|**Bankers**|Barclays Bank Plc|
||Leicester|
||LE87 2BB|
3
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **TRUSTEES' REPORTS (continued) FOR THE PERIOD January to December 2020**
## **OBJECTIVES AND ACTIVITIES**
## **a. POLICIES AND OBJECTIVES**
The objectives of the church are:
- The advancement of the Christian faith worldwide
- 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 and in particular its supplementary public guidance on the advancement of religion for the public benefit.
## **b. STRATEGIES FOR ACHIEVING OBJECTIVES**
The church has adopted the following strategies for achieving the above objectives:
- organisation of seminars and events to address issues of relevance to the relief of poverty and provision of care and support for the needy as appropriate;
- planting of churches; and
- support for other charities and events with similar objectives.
## **c. ACTIVITIES FOR ACHIEVING OBJECTIVES**
The main activities of the church are as follows:
- Sunday service
- Sunday school for all ages of children
- Weekly night Bible Studies at various centres in Watford, Bushey and Luton
## **d. VOLUNTEERS**
The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration. It is estimated that over 5,500 volunteer hours were provided during the year 2020. If this is valued at £7.50 an hour the volunteer effort amounts to over £41,250.
4
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **INDEPENDENT EXAMINNERS REPORT FOR THE PERIOD January to December 2020**
I report on the financial statements of RCCG Chapel of Glory International for the year ended 31 December 2020 which comprise the statement of financial activities, the balance sheet, and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.
## **Respective responsibilities of trustees and independent examiner**
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act),as amended by s.28 of the Charities Act 2006 does not apply. It is my responsibility to examine accounts under section 43 of the Act, as amended, to follow procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, as amended, whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with the General Directions given by the Charities Commissioners. 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 I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (i) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 41 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
- (ii) 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 AL10 9FF
5
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **STATEMENT OF FINANCIAL ACTIVIES FOR THE PERIOD 31st December 2020**
|**Notes**
**INCOMING RESOURCES**
**Incoming resources from generated funds:**
Voluntary income
2
Interest
3
Gift Aid Receivable
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Charitable activities
10
Support Cost
11
Governance costs
12
**TOTAL RESOURCES EXPENDED**
**MOVEMENT IN TOTAL FUNDS FOR THE**
**YEAR - NET INCOME/(EXPENDITURE) FOR**
**THE YEAR**
_Total fund at 1 January 2020_
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
75,966
-
75,966
-
-
-
**75,966**
**-**
**75,966**
9,804
9,804
26,766
26,766
1,747
1,747
**38,318**
**-**
**38,318**
37,648
-
37,648
-
259,479
259,479
**297,127**
**-**
**297,127**|**Total**
**Funds**
**2019**
**£**
74,347
-|
|---|---|---|
|||**74,347**|
|||8,614
37,386
2,271|
|||**48,272**|
|||26,076
3,487
-
229,916|
|||**259,479**|
The Notes on pages 8 to 11 formed part of these financial statements.
6
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL Balance Sheet At 31st December 2020**
|**Notes**
**FIXED ASSETS**
**Tangible assets**
5
**CURRENT ASSETS**
Debtors
6
Cash at bank
**CREDITORS:**Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS:**Amounts falling due after more than one year
8
**NET ASSETS**
**FUNDS**
Unrestricted funds
9
Restricted funds
9
**TOTAL FUNDS**|**£**
3,847
293,630|**2020**
**£**
**-**
**297,127**
297,127
**297,127**
138,787
158,340
**297,127**|**2019**
**£**
**-**
3,847
255,982|
|---|---|---|---|
||297,477
350||259,829
350|
||-||**259,479**|
||||259,479|
||**-**||**259,479**|
||||101,139
158,340|
||||**259,479**|
The financial statements were approved by the Trustees on 2nd June 2021 and signed on their behalf, by
………………………………………… …………………………………… Mr Olajide Alabi Yinka Bazuaye
The notes on pages 8 to 11 form part of these financial statements.
7
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Notes to the Financial Statements For the period 31st December 2020
## **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.
Motor vehicles -25% on reducing balance Fixtures and fittings -12.5% straight line Computer Equipment -33.33% straight line
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **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. VOLUNTARY INCOME**
|**Donations & Gift aid**
Tithes and collections at all services
**3. INVESTMENT INCOME**
Bank interest|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
**75,966**
**75,966**
**74,347**|
|---|---|
||**75,966**
**-**
**75,966**
**74,347**|
||**Restricted**
**Unrestricted**
**Total Restricted**
**2020**
**2020**
**2020**
**Funds**
**2020**
**2020**
**2020**
**2019**
**£**
**£**
**£**
**£**
**-**
**-**
**-**
**-**|
Bank interest
8
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Notes to the Financial Statements - continued For the period 31st July 2020
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2020
## **Trustees' Expenses**
There were no trustees' expenses paid neither for the year ended 31st December 2020
## **5. TANGIBLE FIXED ASSETS**
||||
|---|---|---|
|**5. TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2020
Additions
Disposals
At 31 December 2020
**DEPRECIATION**
At 1 January 2020
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019
The net book value of assets held under finance leases or hire purchases contracts, included above,
are as follows:
Motor Vehicles
**6. DEBTORS**
Other debtors
**7. CREDITORS:**
**AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts
Net obligations under finance leases and hire purchases contracts
Other creditors
Accruals and deferred income|**2020**
**£**
**7,500**
**-**
**7,500**
**7,500**
**-**
**7,500**
**-**
**-**
**2020**
**£**
**£**
**3,847**
**2020**
**£**
**-**
450
**450**|**2019**
**£**
**7,500**
**-**|
|||**7,500**|
|||**7,500**
**-**|
|||**7,500**|
|||**-**|
|||**-**|
|||**2019**
**£**|
|||£
**3,847**|
|||**2019**
**£**
**-**
450|
|||**450**|
9
## **EDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Notes to the Financial Statements - continued For the period January to December 2020
## 9 **MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**||
|---|---|
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**
**Net movement in funds, included in the above are as follows:**
**Unrestricted funds**
General fund
Restricted
**TOTAL FUNDS**|**Net**
**movement in**
**At 01/01/20**
**funds**
**At 31/12/20**
£
£
£
259,479
37,648
297,127
-
-
-|
||**259,479**
**37,648**
**297,127**|
||**Incoming**
**Resources**
**Movement in**
**resources**
**expended**
**funds**
£
£
£
75,966
38,318
37,648
-
-
-|
||**75,966**
**38,318**
**37,648**|
10
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Detailed Statement of Financial Activities for the period January to December 2020
|**RESOURCES EXPENDED**
**10. Charitable activities**
World Evangelism Mission
Food Bank
Central office
Donations
Outreach
FOL
**11. Support Costs**
Honourarium
Pastoral Allowance
Rent
Storage
Evangelism
Telephone
Hospitality
Transport and travel
Printing, Postage and stationary
Admin/Office Expense
Insurance
Training
Vechicle Expenses
Children/Youth
Conference
Advert & publicity
Other
Equipment
Music
Zonal Cont
Bank and Finance
**12. Goverance**
Independent Examiners fees
Professional fees
**Total resources expended**|**2020**
**_£_**
6,000
420
600
2,784
-
-
**9,804**
1,300
13,833
1,942
400
-
855
315
1,500
140
354
1,048
185
965
105
-
-
1,778
1,185
64
640
157
**26,766**
350
1,397|**2019**
**_£_**
6,000
90
600
950
274
700|
|---|---|---|
|||**8,614**|
|||5,404
9,268
1,079
4,500
808
900
165
585
1,317
1,086
410
1,425
394
3,240
677
3,207
2,016
278
300
326|
|||**37,386**|
|||350
1,921|
||**1,747**|**2,271**|
||**38,318**||
|||**48,272**|
11