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← Redeemed Churh Of God (Rccg) The Pathfinder Parish

2024-09-30-accounts

Charity number:1110781

THE REDEEMED CHRISTIAN CHURCH OF GOD THE PATHFINDER PARISH

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH Report and Accounts for the period ended 30 September 2024

CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1110781

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH

Reports and Accounts

CONTENTS
Charity Information 1
Trustees annual report 2-4
Accountant's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to Accounts 8-10

THE REDEEMED CHRISTIAN CHURCH OF GOD -THE PATHFINDER PARISH Charity Information

General Overseer

Pastor E. A. Adeboye

Trustees

Mrs Griselda N. Jiya Mrs Olubunmi O. Akinola Dr. Joel G. Fagborun

Minister In Charge

Pastor Olawale K. Hamzat

Charity Registration No:

1110781

Principal Location

Redemption Place (Ark Royal) Lathbury Road Harpurhey Manchester M9 5SY

Bankers

Natwest Bank Plc 64 Bury Old Road Manchester M8 5NW

Accountants

Gabriel Christopher & co Suite 13, Forest House 8 Gainsborough Road London E11 1HT

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD- THE PATHFINDER PARISH

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of God(RCCG) The Pathfinder Parish(the church) for the year ended 30 September 2024. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Structure, governance and management

a. CONSTITUTION

The church is constituted under a Trust deed dated 22 June 2005 and has a registered charity no 1110781

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the church 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 a newly appointed member of the Trustees comprises an initial meeting with 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 administration of the church is managed by the trustees.

e. RELATED PARTY RELATIONSHIPS

RCCG The Pathfinder 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 church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The objects of the Charity are:

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

C. ACTIVITIES FOR ACHIEVING OBJECTIVES

*Community Outreach Events

Page 2

d. GRANT MAKING POLICIES

Under the Common Purposes Agreement (see above), RCCG-The Pathfinder Parish has agreed to make an annual contibution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.

e. VOLUNTEERS

The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 1,300 volunteer hours were provided during the year. If this is conservatively valued at £12.00 an hour the volunteers' efforts amounts to over £15,600

Achievements and performance

a. REVIEW OF ACTIVITIES

We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed.

The Church activities during the year include the followings:

i) Night of honour: In this program, the Church was able to recognise some notable individuals in our community for the contributions they made to the advancement of Christian faith, unity among churches and peace in our community.

ii) Food bank project: This project continue to wax strong as we ministered to members of our community through food stuff hand out. Parcels of food items were given out to many who came through our door asking for assistance.

iii) Evening of praise: This quarterly event was very successful during the year as christian musicians were invited to perfom in a night of praise and worship.

iv) The Church was able to donate to other charities such as African mission, and compassion during the year

v) Our conferences such as Fresh oil conference and Wind of Change conference held during the year was well attended, people were enlightened spiritually, and the feed back after the conferences indicated that attendees were really blessed.

b. PUBLIC BENEFIT STATEMENT

The Board of Trustees confirm that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011, and have had due regards to the charity Commissions's general guIdance on public benefit. Particular consideration has been given to the Charity Commission's supplementary public guidance provisions on the advancement of religion for the public benefit.

c. FINANCIAL REVIEW

The charity's financial statement for the year ended 30 September 2024 shows a net increase in fund of £3,819 (2023: £1,543 increase).

The value of the charity's net assets at 30 September 2024 was a surplus of £216,832 (2023: a surplus of £213,013)

d. RESERVES POLICY

The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.

Page 3

e. INVESTMENT POLICY AND PERFORMANCE

The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

f. PRINCIPAL FUNDING

This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges and donations are also taken for specific projects.

g. FUTURE DEVELOPMENTS

The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life- changing impact in society.

Page 4

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustee are responsible for preparing the Trustee's 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 Trustee 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 Trustee is required to:

*select suitable accounting policies and then apply them consistently;

*prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustee is responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and 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 charity (Accounts and Reports) Regulation 2008 and the provision of the trust deed. 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.

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Signature: Griselda Jiya

Name: Griselda Jiya

Date: 03-Jul-25

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

As the Trustee of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity'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 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I report on the accounts of the Trust for the period ended 30 September 2022, which are set out on pages 6 to 11

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable 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.

A G Oyewole FCCA

Chartered Certified Accountants Suite 13, Forest House 8 Gainsborough Road London E11 1HT

03-Jul-25

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH Statement of Financial Activities for the year ended 30 September 2024

Notes
Incoming Resources
Incoming resources from generated funds:
Voluntary income:donations
2
Activities in furtherance of the charity
objects
Total Incoming Resources
Resources Expended
Charitable activities
3
Governance costs:
4
Total Resources expended
Net Incoming/(Outgoing) Resources for the year
Total funds at 1 October 2023
Total funds at at 30 September 2024 6		 2024
2023
Unrestricted
Restricted
Total
Total
£
£
£
£
154,050
-
154,050
136,455
-
-
-
-
154,050
-
154,050
136,455
138,364
-
138,364
123,887
11,867
-
11,867
11,026
150,231
-
150,231
134,912
3,819
-
3,819
1,543
213,013
-
213,013
211,470

216,832
-
216,832
213,013

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH Balance sheet as at 30 September 2024

Notes
FIXED ASSETS
Tangible Fixed Assets
7
CURRENT ASSETS
Debtors
8
Cash in Hand/ Bank
CREDITORS:
9
NET CURRENT ASSETS/LIABILITIES
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:
Amount falling due more than a year
10
NET ASSETS
ACCUMULATED FUNDS
Restricted
11
Unrestricted
11.1
TOTAL FUNDS
Amount falling due within a year		 £
-
2,666

Approved by the Trustees and Signed on their behalf:

Signature: Griselda Jiya

Name: Griselda Jiya

Date: 03-Jul-25

Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD-THE PATHFINDER PARISH Notes to the financial statements for the period ended 30 September 2024

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007).The financial statements have been prepared in accordance with the Statement of Recomended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administring such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

1.3 Incoming resources

These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted-funds.

2. Voluntary Income: Donations
Income: Donations
Tithes & Offerings
Other income
Income tax recoverable		 2024
£
123,585
-
30,465
154,050		 2023
£
111,397
-
25,058
136,455

3.CHARITABLE ACTIVITIES- (Direct charitable expenditure Unrestricted)

This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.

Staff Salary
Employer NI
WEM and Cetral office
Community expenses
Compassion UK
Food Bank Project
Christmas expenses
Visiting Ministers' Expenses
Travelling and accommodation expenses
Music ministry
Mortgage interest
Welfare & Hospitality
Conference & Seminars
Pastor's Allowance
Motor Expenses
Premises- Water, Heating & Lighting
Communication expenses
Magazines, printing, postage & stationeries
Training expenses
Premises repairs & renewals
Sunday School		 2024
£
16,700
1,053
3,400
2,300
680
19,312
-
4,300
6,118
1,800
9,441
9,331
4,229
31,047
2,333
4,368
2,005
1,130
-
5,991
-
125,538		 2023
£
11,760
-
2,410
1,350
672
11,574
600
6,300
4,169
600
8,873
12,555
-
27,461
4,554
3,198
1,455
2,427
1,800
10,670
260
112,689

Page 9

3.CHARITABLE ACTIVITIES- (Direct charitable expenditure Unrestricted)-Continued

2024
Volunteer Expenses
1,000
Insurance
3,283
Security, health and safety
1,008
Bank charges & interest
3,550
Publicity
-
Youth week
1,200
Women Ministry
750
Admin expenses
2,034
12,825
3.1. CHARITABLE ACTIVITIES- (Direct charitable expenditure Restricted)
2024
Building Extension Expenses
-
4. GOVERNANCE COSTS
2024
£
Legal & professional fees
1,955
Accountancy fees
990
Depreciation
8,922
11,867
4.1 NET MOVEMENT IN FUNDS FOR THE YEAR
2024
The net movement in funds for the year is stated
£
after charging
Depreciation of tangible fixed assets
8,922
Legal & Professional fees
1,955
Accountancy fees
990
11,867		 2023
2,233
2,058
1,104
2,142
355
500
800
2,005
11,198
2023
-
2023
£
649
990
9,387
11,026
2023
£
9,387
649
990
11,026

5.DEPRECIATION

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Church & office equipment
Van
Building
6. FUNDS
At 1 October
Surplus/(Deficit) for the year
At 30 September		 18% reducing balance
18% reducing balance
2% reducing balance
Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
£
£
£
213,013
-
213,013
3,819
-
3,819
216,832
-
216,832		 Total
Funds
2023
£
211,470
1,543
213,013

Page 10

7. FIXED ASSETS
Land and Buildings
Computer &
Equipment
Musical
Instrument
Fixtures &
Fittings
Motor
Vehicles
Total
£
£
£
£
£
COST
At 01
October
2023
401,768
15,274
26,447
27,742
42,306
513,538
Add:
Additions
-
-
-
1,424
-
1,424
At 30
September
2024
401,768
15,274
26,447
29,167
42,306
514,962
Depreciation
At 01
October
2023
105,035
13,505
21,677
23,186
38,228
201,631
Charge for
the year
5,935
318
859
1,076
734
8,922
At 30
September
2024
110,969
13,824
22,535
24,263
38,962
210,554
Net book
value
At 30
September
2024
290,799
1,451
3,912
4,904
3,344
304,408
At 30
September
2023
296,733
1,769
4,770
4,556
4,078
311,906
8.DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
-
-
-
-
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Bank overdraft
-
-
Other Creditors
-
-
Professional fees
990
990
990
990
10.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR
2024
2023
£
£
Mortgage Loan
89,253
99,636
Other Creditors
-
-
89,253
99,636		 7. FIXED ASSETS
Land and Buildings
Computer &
Equipment
Musical
Instrument
Fixtures &
Fittings
Motor
Vehicles
Total
£
£
£
£
£
COST
At 01
October
2023
401,768
15,274
26,447
27,742
42,306
513,538
Add:
Additions
-
-
-
1,424
-
1,424
At 30
September
2024
401,768
15,274
26,447
29,167
42,306
514,962
Depreciation
At 01
October
2023
105,035
13,505
21,677
23,186
38,228
201,631
Charge for
the year
5,935
318
859
1,076
734
8,922
At 30
September
2024
110,969
13,824
22,535
24,263
38,962
210,554
Net book
value
At 30
September
2024
290,799
1,451
3,912
4,904
3,344
304,408
At 30
September
2023
296,733
1,769
4,770
4,556
4,078
311,906
8.DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
-
-
-
-
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Bank overdraft
-
-
Other Creditors
-
-
Professional fees
990
990
990
990
10.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR
2024
2023
£
£
Mortgage Loan
89,253
99,636
Other Creditors
-
-
89,253
99,636		 7. FIXED ASSETS
Land and Buildings
Computer &
Equipment
Musical
Instrument
Fixtures &
Fittings
Motor
Vehicles
Total
£
£
£
£
£
COST
At 01
October
2023
401,768
15,274
26,447
27,742
42,306
513,538
Add:
Additions
-
-
-
1,424
-
1,424
At 30
September
2024
401,768
15,274
26,447
29,167
42,306
514,962
Depreciation
At 01
October
2023
105,035
13,505
21,677
23,186
38,228
201,631
Charge for
the year
5,935
318
859
1,076
734
8,922
At 30
September
2024
110,969
13,824
22,535
24,263
38,962
210,554
Net book
value
At 30
September
2024
290,799
1,451
3,912
4,904
3,344
304,408
At 30
September
2023
296,733
1,769
4,770
4,556
4,078
311,906
8.DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
-
-
-
-
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Bank overdraft
-
-
Other Creditors
-
-
Professional fees
990
990
990
990
10.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR
2024
2023
£
£
Mortgage Loan
89,253
99,636
Other Creditors
-
-
89,253
99,636		 7. FIXED ASSETS
Land and Buildings
Computer &
Equipment
Musical
Instrument
Fixtures &
Fittings
Motor
Vehicles
Total
£
£
£
£
£
COST
At 01
October
2023
401,768
15,274
26,447
27,742
42,306
513,538
Add:
Additions
-
-
-
1,424
-
1,424
At 30
September
2024
401,768
15,274
26,447
29,167
42,306
514,962
Depreciation
At 01
October
2023
105,035
13,505
21,677
23,186
38,228
201,631
Charge for
the year
5,935
318
859
1,076
734
8,922
At 30
September
2024
110,969
13,824
22,535
24,263
38,962
210,554
Net book
value
At 30
September
2024
290,799
1,451
3,912
4,904
3,344
304,408
At 30
September
2023
296,733
1,769
4,770
4,556
4,078
311,906
8.DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
-
-
-
-
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Bank overdraft
-
-
Other Creditors
-
-
Professional fees
990
990
990
990
10.CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR
2024
2023
£
£
Mortgage Loan
89,253
99,636
Other Creditors
-
-
89,253
99,636
401,768
15,274
26,447
29,167
42,306
514,962
105,035
13,505
21,677
23,186
38,228
201,631
5,935
318
859
1,076
734
8,922
110,969
13,824
22,535
24,263
38,962
210,554
290,799
1,451
3,912
4,904
3,344
304,408
296,733
1,769
4,770
4,556
4,078
311,906
2024
£
-
-
2024
£
-
-
990
990
2024
£
89,253
-
89,253		 2023
£
-
-
2023
£
-
-
990
990
2023
£
99,636
-
99,636

11. UNRESTRICTED FUNDS

These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.

11.1 RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.

Page 11