**Charity Number: 1106676**
# **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
**FOR THE PERIOD 1ST JANUARY to 31ST DECEMBER 2023**
## **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 - 7|
|**Independent examiner's report**|8|
|**Statement of Financial Activities**|9|
|**Balance Sheet**|10|
|**Notes to the Financial Statements**|11 - 14|
## **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 2023**
|**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 FOR THE PERIOD JANUARY TO DECEMBER 2023**
The Trustees present their annual report together with the financial statements of The Redeemed Christian Church of God Chapel of Glory International (the charity) for the period January to December 2023. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005. The charity also trades under the name Chapel of Glory International.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **a. CONSTITUTION**
The church is constituted under a Trust Deed dated 27 January 2002.
## **b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES**
The induction process for any newly appointed member of the Trustees comprises an initial meeting with the Chair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.
## **d. 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 a volunteer.
## **e. RELATED PARTY RELATIONSHIPS**
Chapel of Glory International parish 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".
## **f. RISK MANAGEMENT**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
4
**REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **TRUSTEES' REPORTS (continued) FOR THE PERIOD January to December 2023**
## **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
- Midweek service and night vigil
## **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 2023.
5
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **TRUSTEES' REPORTS (continued) FOR THE PERIOD JANUARY TO DECEMBER 2023**
## **ACHIEVEMENTS AND PERFORMANCE**
## **a. REVIEW OF ACTIVITIES**
We have had tremendous growth in physical and spritual life of the church 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.
The church undertook the following activities:
## Fruits for New Hope trust
The church provides fruits on a weekly basis to Watford New Hope Trust, a charity for homeless people.
## Christmas Elderly Visit
An Elderly home was visited during Christmas and Hampers were presented to the elderly.
## Christmas Elderly Lunch
There was an elderly lunch organised by the church in Dec 2023
## Barbeque and Sports day
Barbecue and sports day hosted for the community.
## Concert
Musical Concert held for the community occasionally during the year.
## Evangelism outreach
To inspire and teach the good news to the community.
All our activities were open to the general public as well as church members.
## **b. INVESTMENT POLICY AND PERFORMANCE**
The trustees have decided that at present, funds should be retained in bank. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.
6
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **TRUSTEES' REPORTS (continued) FOR THE PERIOD JANUARY TO DECEMBER 2023**
## **FINANCIAL REVIEW**
## **a. RESERVES POLICY**
Members of the church have been generous this year. The income for the year January to December 2023 was £ 123,685. whilst the expenditure was £ 81,235 resulting in a gain of £ 42,451. The net asset stand at £ 436,686.
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the church should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding.
## **b. PRINCIPAL FUNDING**
This is provided mainly through voluntary tithes and offerings by the church members and occasionally donations by non-church members
## **PLANS FOR THE FUTURE**
## **a. FUTURE DEVELOPMENTS**
We are hoping to acquire a building of our own and we are also praying that God will help us establish another parish with its own place of worship.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees are responsible for preparing the Trustees' report and the 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 & 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will 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. They 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.
This report was approved by the Trustees on 19th June 2024 and signed on their behalf, by:
…………………………………………………..
## **Mr Olajide Alabi**
7
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **INDEPENDENT EXAMINNERS REPORT FOR THE PERIOD January to December 2023**
I report on the financial statements of RCCG Chapel of Glory International for the year ended 31 December 2023 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
19th June 2024
8
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
## **STATEMENT OF FINANCIAL ACTIVIES FOR THE PERIOD 1st Januuary 2023 to 31st December 2023**
|**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**
_Total fund at 1 January 2023_
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
118,041
5,644
123,685
-
-
-
**118,041**
**5,644**
**123,685**
17,569
17,569
55,502
55,502
8,164
8,164
**81,235**
**-**
**81,235**
36,806
5,644
42,451
-
394,236
394,236
**431,042**
**5,644**
**436,686**|**Total**
**Funds**
**2022**
**£**
111,013
-|
|---|---|---|
|||**111,013**|
|||8,705
42,476
8,456|
|||**59,637**|
|||51,376
-
342,859|
|||**394,236**|
9
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL Balance Sheet At 31st December 2023**
|**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**|**£**
23,847
413,189|**2023**
**£**
**-**
**436,686**
436,686
**436,686**
431,042
5,644
**436,686**|**2022**
**£**
**-**
3,847
390,739|
|---|---|---|---|
||437,036
350||394,586
350|
||-||**394,236**|
||||394,236|
||**-**||**394,236**|
||||394,236|
||||**394,236**|
The financial statements were approved by the Trustees on 19th June 2024 and signed on their behalf, by
………………………………………… …………………………………… Mr Olajide Alabi Yinka Bazuaye
The Notes on pages 11 to 14 form part of these financial statements.
10
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Notes to the Financial Statements For the period 31st December 2023
## **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**
**Building fund**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**2022**
**£**
**£**
**£**
**£**
**118,041**
**-**
**118,041**
**111,013**
**5,644**
**5,644**|
|---|---|
## **3. INVESTMENT INCOME**
Bank interest
|**Restricted**|**Unrestricted**|**Total **|**Restricted**|
|---|---|---|---|
||||**Funds**|
|**2023**|**2023**|**2023**|**2022**|
|**£**|**£**|**£**|**£**|
|**-**|**-**|**-**|**-**|
11
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Notes to the Financial Statements - continued
For the period 31st December 2023
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2023
## **Trustees' Expenses**
There were no trustees' expenses paid neither for the year ended 31st December 2023
## **5. TANGIBLE FIXED ASSETS**
||||
|---|---|---|
|**5. TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2023
Additions
Disposals
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
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|**2023**
**£**
**7,500**
**-**
**7,500**
**7,500**
**-**
**7,500**
**-**
**-**
**2023**
**£**
**£**
**23,847**
**2023**
**£**
**-**
350
**350**|**2022**
**£**
**7,500**
**-**|
|||**7,500**|
|||**7,500**
**-**|
|||**7,500**|
|||**-**|
|||**-**|
|||**2022**
**£**|
|||**£**
**3,847**|
|||**2022**
**£**
**-**
350|
|||**450**|
12
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Notes to the Financial Statements - continued For the period January to December 2023
## 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 01/01/23**
**funds**
**At 31/12/23**
£
£
£
394,236
36,806
431,042
-
5,644
5,644|
||**394,236**
**42,451**
**436,686**|
||**Incoming**
**Resources**
**Movement in**
**resources**
**expended**
**funds**
£
£
£
118,041
81,235
36,806
5,644
-
5,644|
||**123,685**
**81,235**
**42,451**|
13
## **REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL**
Detailed Statement of Financial Activities for the period January to December 2023
|**RESOURCES EXPENDED**
**10. Charitable activities**
World Evangelism Mission
Food Bank
Mission
Broadcast and Production
Central office
Donations
**11. Support Costs**
Honourarium
Pastoral Allowance
Rent
Storage
Region/ Zonal
Telephone
Hospitality
Outreach
Printing, Postage and stationary
Admin/Office Expense
Travel
Insurance
Training
Vechicle Expenses
Security Charges
Conference
Multi media
Equipment
Other
Area Contribution
Welfare
**12. Goverance**
Independent Examiners fees
Professional fees
**Total resources expended**|**2023**
**_£_**
3,000
-
2,265
9,404
600
2,300
**17,569**
4,400
22,350
2,308
1,268
1,900
588
1,663
5,552
861
2,219
883
241
894
-
9,214
1,161
-
-
**55,502**
-
8,164|**2022**
**_£_**
5,500
820
1,350
1,035|
|---|---|---|
|||**8,705**|
|||6,450
23,624
655
1,200
1,000
1,101
-
1,500
950
141
890
200
1,834
40
2,302
346
-
100
143|
|||**42,476**|
|||-
8,456|
||**8,164**|**8,456**|
||**81,235**||
|||**59,637**|
14