2024-12-31-accounts - Redeemed Christian Church Of God Chapel Of Glory International

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Charity Number: 1106676

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

FOR THE PERIOD 1ST JANUARY to 31ST DECEMBER 2024

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 2024

General Overseer	Pastor E A Adeboye
Trustees	Mr Kayode Tanimowo
	Mr Babadamilola Siyanbola, Secretary
	Mrs Olayinka Bazuaye, Treasurer
	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

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

TRUSTEES' REPORTS FOR THE PERIOD JANUARY TO DECEMBER 2024

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 2024. 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.

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

TRUSTEES' REPORTS (continued) FOR THE PERIOD January to December 2024

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 4,500 volunteer hours were provided during the year 2024.

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

TRUSTEES' REPORTS (continued) FOR THE PERIOD JANUARY TO DECEMBER 2024

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.

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

TRUSTEES' REPORTS (continued) FOR THE PERIOD JANUARY TO DECEMBER 2024

FINANCIAL REVIEW

a. RESERVES POLICY

Members of the church have been generous this year. The income for the year January to December 2024 was £ 113,753. whilst the expenditure was £86,225 resulting in a gain of £ 27,528. The net asset stand at £ 464,214.

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 30th August 2025 and signed on their behalf, by:

…………………………………………………..

Mr Olajide Alabi

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

INDEPENDENT EXAMINNERS REPORT FOR THE PERIOD January to December 2024

I report on the financial statements of RCCG Chapel of Glory International for the year ended 31 December 2024 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

30th August 2025

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVIES FOR THE PERIOD 1st Januuary 2024 to 31st December 2024

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 2024 2024 2024 £ £ £ 91,350 22,403 113,753 - - - 91,350 22,403 113,753 10,612 10,612 74,573 74,573 1,040 1,040 86,225 - 86,225 5,125 22,403 27,528 - 436,686 436,686 441,811 22,403 464,214	Total Funds 2023 £ 123,685 -
		123,685
		17,569 55,502 8,164
		81,235
		42,451 - 394,236
		436,686

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL Balance Sheet At 31st December 2024

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	£ - 23,847 437,792	2024 £ 2,925.00 461,289 464,214 464,214 441,811 22,403 464,214	2023 £ - 23,847 413,189
	461,639 350		437,036 350
	-		436,686
			436,686
	-		436,686
			431,042 5,644
			436,686

The financial statements were approved by the Trustees on 30th August 2025 and signed on their behalf, by

………………………………………… …………………………………… Mr Olajide Alabi Yinka Bazuaye

The Notes on pages 11 to 14 form part of these financial statements.

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

Notes to the Financial Statements For the period 31st December 2024

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 2024 2024 2024 2023 £ £ £ £ 91,350 - 91,350 118,041 22,403 22,403 5,644

3. INVESTMENT INCOME

Bank interest

Restricted	Unrestricted	Total	Total
2024	2024	2024	2023
£	£	£	£
-	-	-	-

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

Notes to the Financial Statements - continued

For the period 31st December 2024

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2024

Trustees' Expenses

There were no trustees' expenses paid neither for the year ended 31st December 2024

5. TANGIBLE FIXED ASSETS

5. TANGIBLE FIXED ASSETS COST At 1 January 2024 Additions Disposals At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 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	2024 £ 7,500 - 7,500 7,500 - 7,500 - - £ 23,847 2023 £ - 350 350	2024 £ Motor Van 3,900 -
		3,900
		- 975
		975
		2,925
		-
		£ 23,847
		2023 £ - 350
		350

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

Notes to the Financial Statements - continued For the period January to December 2024

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 01/01/24 funds At 31/12/24 £ £ £ 436,686 5,125 441,811 - 22,403 22,403
	436,686 27,528 464,214
	Incoming Resources Movement in resources expended funds £ £ £ 91,350 86,225 5,125 22,403 - 22,403
	113,753 86,225 27,528

REDEEMED CHRISTIAN CHURCH OF GOD CHAPEL OF GLORY INTERNATIONAL

Detailed Statement of Financial Activities for the period January to December 2024

RESOURCES EXPENDED 10. Charitable activities World Evangelism Mission Evangelism 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 Production Conference Multi media Equipment Depreciation Area Contribution Welfare 12. Goverance Independent Examiners fees Professional fees Total resources expended	2024 2023 £ £ 3,150 3,000 1,679 - - 2,265 - 9,404 600 600 5,183 2,300 10,612 17,569 3,600 4,400 30,195 22,350 11,164 2,308 1,358 1,268 - 1,900 1,650 588 966 1,663 5,726 5,552 2,533 861 304 1,753 2,219 1,840 883 1,241 241 835 894 5,964 - 1,630 9,214 1,177 1,161 584 - 975 150 - 930 74,573 55,502 - - 1,040 8,164
	1,040 8,164
	86,225 81,235

RESOURCES EXPENDED
10. Charitable activities
World Evangelism Mission
Evangelism
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
Production
Conference
Multi media
Equipment
Depreciation
Area Contribution
Welfare
12. Goverance
Independent Examiners fees
Professional fees
Total resources expended

2024
2023
£
£
3,150
3,000
1,679
-
-
2,265
-
9,404
600
600
5,183
2,300
10,612
17,569
3,600
4,400
30,195
22,350
11,164
2,308
1,358
1,268
-
1,900
1,650
588
966
1,663
5,726
5,552
2,533
861
304
1,753
2,219
1,840
883
1,241
241
835
894
5,964
-
1,630
9,214
1,177
1,161
584
-
975
150
-
930
74,573
55,502
-
-
1,040
8,164

1,040
8,164

86,225
81,235

Total resources expended