REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Year ended 31ST DECEMBER 2022 Legal and administrative information
Status
Registered charitable organisation since 5th May 2006.
Trustees and Management committee
MRS RUTH LAYADE - CHAIRPERSON MR ERNEST EYO - TREASURER MRS MERCY OGUNNIYI - SECRETARY MR OLAKUNLE DARAMOLA - MEMBER
Registered charity number 1114056 Registered office address 5-13 Alfred Street, St. Philips, Bristol BS2 0RF Charity operations address 5-13 Alfred Street, St. Philips, Bristol BS2 0RF email address bristol_overcomershse@yahoo.co.uk
telephone 01173048837 Bankers Barclays Bank Kingdom Bank Accountants AL Accounting Solutions Limited Chartered Certified Accountants 21A BRIGHTON ROAD SOUTH CROYDON SURREY CR2 6EA
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Year ended 31ST DECEMBER 2022
Trustees Report
The trustees presents its report and the unaudited financial statements for the year ended 31ST DECEMBER 2022.
The Trustees present their annual report together with the financial statements of The Redeemed Christian Church of God Overcomers House Bristol (the Charity) for the year ended 31 December 2022. The trustees confirm that the annual report and financial statements of the charity have been prepared in accordance with the policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable in the UK and Republic of Ireland published on 16 July 2014
OBJECTIVES AND ACTIVITIES
The principal object is the advancement of Christian faith worldwide and relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve this objective, the church adopted the following strategies:
STRATEGIES FOR ACHIEVING THE OBJECTIVES
The charity has adopted the following strategies for achieving the above objectives: -Planting churches
-Running conferences and seminars in the church with proven ministers of the faith to guide mem bers in the various aspects of Christian faith,
-Support for other charities and Christian events,
-Providing overseas aid and famine relief, where necessary and involve in economic and community development,
-Community outreach events know as CSR (Christian Social Responsibility)
-Conferences and events,
-Welfare support to members and general public, and
-Various missionary activities
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 due regards to the Charity Commissions' 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 public benefit.
PUBLIC BENEFITS
-The Church’s Sunday and mid-week services as well as prayer meetings are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in in the following public benefit efforts:
-The charity runs a free youth music, choreography and drama project for youth in the community This we believe will enable young people be more productive with their free time. It will further prevent them from getting involved in any anti-social behavior.
-The charity organized various dinner events to bring the community members and leaders together. This provides an opportunity for social interaction between members of the community.
-The charity organized a street party to celebrate the platinum jubilee of the of ascension to the throne by Queen Elizabeth II.
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Year ended 31ST DECEMBER 2022
Trustees report
Public benefits contd...
-The charity successfully organized a welcome event for new members who joined the church community within the year.
-The Charity visited and donated Christmas gift packs to a Homeless Charity in Bristol in a program tagged: You are not alone on Christmas day.
-Donations was also made to the prisons in Bristol for the feeding of inmates for Christmas day celebrations.
Our efforts are geared towards supporting the programs of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity which also operates under the name Rccg Overcomers House Bristol was constituted by a trust deed dated 6 March 2006 and was registered with the Charity Commission as a charity in England and Wales 6 May 2006
APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are appointed or elected under the terms of the trust deed.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES
The induction process for newly appointed trustees comprises of 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 STRUCTURE AND DECISION MAKING
The charity is organised so that the Trustees meet regularly to manage its affairs. The Parish Pastor manages the day-to-day administration of the church with assistance from the ministers.
RELATED PARTY TRANSACTION
RCCG Overcomers House Bristol is a parish of The Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG is governed by an ’Agreement for Common purposes'.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed, in particular to those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks. However, consultation and review of our systems are regularly undertaken, in order to ensure they remain up to date and effective.
GRANT TAKING 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 programs. The Church supports other charities and missionary that shares its objects on the advancement of Christian faith and relief of poverty. The church gives occasional welfare support to congregational members who are in need.
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Year ended 31ST DECEMBER 2022
Trustees report
VOLUNTEERS
The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 8800 hours are provided by volunteers during the year. If this is conservatively valued at £10.42 per hour, the volunteer’s effort will amount to over £91,696. Strategic training/development programs were provided to the volunteers to enhance the quality of services they rendered to the Charity.
ACHIEVEMENT AND PERFORMANCE
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 contained in our Trust Deed.
INVESTMENT POLICY
The trustees have decided that currently, there is no funds at the moment to be able to fulfil this but when there is significant fund, it will be looked into.
RESERVES POLICY
The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 6 to 9 months of resources expended which equals roughly £50,000 - £70,000. They feel that this will enable current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is within the policy range but the trustees are continuing to seek additional funds to further boost the reserves.
PRINCIPAL FUNDING
Funding has been provided mainly through freewill donations (tithes, offerings, thanksgiving, seeds and first fruits etc) by church members and other donations. Pledges are also taken for specific projects. The charity has maximised its incoming by accessing gift aid claim on donations made by eligible donors.
FUTURE DEVELOPMENTS
The charity 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 the community through strategic training and development programmes.
FINANCIAL REVIEV
The Charity's financial statements for the year ended 31 December 2022 show a net increase of funds.
TAXATION
The Redeemed Christian Church of God Overcomers House Bristol is a registered charity and all of its activities are tax exempt under rules of taxation granted to charities.
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Year ended 31ST DECEMBER 2022
Trustees Report
RESPONSIBILITIES AND BASIS OF PREPARATION OF THE REPORT
The trustees, who are also the management committee of the charity, are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and accountable for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the BOARD OF TRUSTEES
……………………………….
Date ……………………………….
Mrs Ruth Layade Chair
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Year ended 31ST DECEMBER 2022
Independent Examiner's report to the Trustees
I report to the trustees on my examination of the accounts of the above charity for the above period.
Responsibilities and basis of report:
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 Act.
Independent examiner's statement:
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
Alhassan Bangura FCCA AL Accounting Solutions Limited Chartered Certified Accountants 21A BRIGHTON ROAD SOUTH CROYDON SURREY CR2 6EA
Date.....................................................
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL
Report and Financial Statements
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST DECEMBER 2022
| Unrestricted Funds Notes £ Incoming resources: Voluntary income 3 274,204 Gift aid receipts 59,191 Total Incoming resources 333,395 Resources Expended: Resources expended 6 303,604 Total resources expended 303,604 Net surplus/ (deficit) for the year 29,791 Opening funds 293,684 Closing funds 323,475 |
Total Funds 2022 £ 274,204 59,191 333,395 303,604 303,604 29,791 293,684 323,475 |
Total Funds 2021 £ 216,107 42,444 |
|---|---|---|
| 258,551 | ||
| 251,016 | ||
| 251,016 | ||
| 7,535 286,149 |
||
| 293,684 |
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL
Report and Financial Statements
Balance Sheet as at 31ST DECEMBER 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Freehold Premises at cost | 355,025 | 355,025 | |||
| Other tangible fixed assets: | 2 | ||||
| Freehold Improvements | 156,982 | 184,427 | |||
| Equipment & Furniture | 37,805 | 27,408 | |||
| Motor vehicles | 2,349 | 2,936 | |||
| 552,161 | 569,796 | ||||
| Net Current liabilities | |||||
| Cash at Bank and in Hand | 68,085 | 32,038 | |||
| 68,085 | 32,038 | ||||
| Less: Current Liabilities | 4 | (1,488) | (1,695) | ||
| 66,597 | 30,343 | ||||
| Mortgage Loans | 5 | (295,283) | (306,455) | ||
| Net Assets | 323,475 | 293,684 | |||
| REPRESENTED BY: | |||||
| Unrestricted funds | 323,475 | 293,684 | |||
| 323,475 | 293,684 | ||||
| Signed on behalf of the Board of Trustees |
……………………………….
Date ……………………………….
Mrs Ruth Layade Chair
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements Notes forming part of the financial statements
for the year ended 31ST DECEMBER 2022
1. Accounting policies
a) The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
b) Voluntary income is received by the way of donations towards religious tithes and offerings. Donations received is included in full in the Statement of Financial Activities in the year in which they are received.
c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
-
Freehold improvements 10%
-
Equipment & Furniture 20%
-
Motor Vehicle 20%
e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.
2.
| Other Tangible Fixed Assets Cost: As at 1 January 2022 Addition As at 31 December 2022 Depreciation: As at 1 January 2022 Charge As at 31 December 2022 Net Book Value: As at 31 December 2022 As at 1 January 2022 |
Freehold Improvements £ 274,445 - 274,445 90,018 27,445 117,463 156,982 184,427 |
Equipment & Furniture £ 62,506 19,848 82,354 35,098 9,451 44,549 37,805 27,408 |
Motor Vehicles £ 17,500 - 17,500 14,564 587 15,151 2,349 2,936 |
Total £ 354,451 19,848 |
|---|---|---|---|---|
| 374,299 | ||||
| 139,680 37,483 |
||||
| 177,163 | ||||
| 197,136 | ||||
| 214,771 |
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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL
Report and Financial Statements
Notes forming part of the financial statements for the year ended 31ST DECEMBER 2022
| 3. Voluntary Income Tithe & offering Building fund donations 4. Current liabilities Accruals 5. Mortgage Loan Balance brought forward Less: Repayments Add: Interest plus adjustments Balance carried forward 6. Total Resources Expended RCCG Central Office & WEM Honararium, Donations & members welfare Conferences, Events & Outreach Salaries & NI Cost Pensions Rent, Rates & Water Light & Heating Telephone & Internet Travelling & Motor Expenses Bank Charges & Interest Sundry expenses Insurance & Licences Legal & Professional Fees Accountancy Fees Building Security & maintenance Mortgage Loan Interest plus adjustments Depreciation Total |
2022 £ 270,887 3,317 274,204 £ 1,488 1,488 £ 306,455 (32,758) 21,586 295,283 £ 18,001 3,412 49,467 113,772 5,699 5,772 4,775 4,035 5,739 643 1,265 4,819 4,840 1,188 21,394 21,300 37,483 303,604 |
2021 £ 210,378 5,729 |
|---|---|---|
| 216,107 | ||
| £ 1,695 |
||
| 1,695 | ||
| £ 311,668 (26,251) 21,038 |
||
| 306,455 | ||
| £ 17,150 5,579 31,823 95,429 3,793 460 3,711 3,387 8,422 750 2,215 2,362 994 1,515 16,253 22,142 35,031 |
||
| 251,016 |
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Registered Charity No: 1114056
REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL
Report and Financial Statements Year ended: 31ST DECEMBER 2022
AL Accounting Solutions Limited Chartered Certified Accountants 21A BRIGHTON ROAD SOUTH CROYDON SURREY CR2 6EA
REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL Report and Financial Statements
Contents
| Page No | |
|---|---|
| 1 | Legal and administrative information |
| 2-5 | Trustees Report |
| 6 | Independent Examiner's report to the Trustees |
| 7 | Statement of Financial Activities |
| 8 | Balance Sheet |
| 9-10 | Notes forming part of the financial statements |