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← Redeemed Christian Church Of God (Rccg) Overcomers' House

2024-12-31-accounts

REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL

Report and Financial Statements Year ended 31ST DECEMBER 2024 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 2024

Trustees Report

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 2024. 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 members in the various aspects of the Christian faith,

*Support for other charities and Christian events,

Providing support where necessary and involve in economic and community development, Community outreach events know as CSR (Christian Social Responsibility)

*Conferences and events,

Leadership conferences and Continuous Development Training for Ministers and members Support to members and general public, as at when available 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 the youth in the church community and open to the general public also. 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 provided an opportunity for social interaction between members of the community.

-The charity organized a gospel concert in May and December 2024 as part of the mid-year and end of -year activities.

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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL

Report and Financial Statements Year ended 31ST DECEMBER 2024

Trustees Report continued..

-The charity successfully organized a table tennis competition among the youth members of the church community during the Free Barbecue sunday. The social interaction and physical fitness among the youth was enhanced.

-Funds was raised and donated to the PROSTATE CANCER UK as part of our CSR (Christian Social Responsibility) program tagged: Giving Back to the Community.

-Conferences and Seminars also took place to cater to the spiritual groups in the committee namely: Men, Women, Youth and Children.

-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. This is reviewed on a regular basis.

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 give support to congregational members who are genuinely in need.

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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL

Report and Financial Statements Year ended 31ST DECEMBER 2024

Trustees Report continued..

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 9850 hours are provided by volunteers during the year. If this is conservatively valued at £12,21 per hour, the volunteer’s effort will amount to over £120,268.50. 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 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 £65,000 - £80,000. 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, 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 REVIEW : The Charity's financial statements for the year ended 31 December 2024 show a slight decrease in annual income by £11,425.00, compared to last year. Expenditure also increased due to lump sum paid to reduce mortgage liability Charity reserves at the end of year increased by £41,174. Mortgage loan balance reduced by £63,803. Despite a slight decrease in income, the charity still has a healthy outlook in 2024. This was due primarily to the large heart of the congregation members in their freewill donations.

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 2024

Trustees Report continued..

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.

Charity law requires the Directors to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period.

In preparing the financial statements, the Directors are required to:

Select suitable accounting policies and apply them consistently; Make judgement and estimates that are reasonable and prudent;

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

The trustees recognize their responsibilities to keep 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henceforth taking steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

Approved by the trustees on 03[rd] August 2025 and signed on their behalf by:

Ruth O. Layade Ernest E. Eyo Chairperson Treasurer

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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL

Report and Financial Statements Year ended 31ST DECEMBER 2024 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:

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.....................................................

6

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 2024

Unrestricted
Funds
Notes
£
Incoming resources:
Voluntary income
3
402,312
Gift aid receipts
42,018
Total Incoming resources
444,330
Resources Expended:
Resources expended
6
403,156
Total resources expended
403,156
Net surplus/ (deficit) for the year
41,174
Opening funds
434,721
Closing funds
475,895		 Total
Funds
2024
£
402,312
42,018
444,330
403,156
403,156
41,174
434,721
475,895		 Total
Funds
2023
£
381,179
74,576
455,755
344,509
344,509
111,246
323,475
434,721

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REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL

Report and Financial Statements

Balance Sheet as at 31ST DECEMBER 2024

Fixed assets
Freehold Premises at cost
Other tangible fixed assets:
Freehold Improvements
Equipment & Furniture
Motor vehicles
Net Current liabilities
Debtors
Cash at Bank and in Hand
Less: Current Liabilities
Mortgage Loans
Net Assets
Unrestricted funds
REPRESENTED BY:		 Notes
2
4
5		 £
355,025
155,435
63,880
1,503		 2024 £
575,843
125,700
(225,648)
475,895
475,895
475,895		 £
£
355,025
129,537
55,207
1,879
541,648
6,500
177,896
184,396
(1,872)
182,524
(289,451)
434,721
434,721
434,721
2023
-
127,656

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 2024

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%

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.

f) Restricted funds are to be used for specific purposes as laid down by the donor.

2.

Other Tangible Fixed Assets
Cost:
As at 1 January 2024
Addition
As at 31 December 2024
Depreciation:
As at 1 January 2024
Charge
As at 31 December 2024
Net Book Value:
As at 31 December 2024
As at 1 January 2024		 Freehold
Improvements
£
274,445
59,269
333,714
144,908
33,371
178,279
155,435
129,537		 Equipment
& Furniture
£
113,558
24,643
138,201
58,351
15,970
74,321
63,880
55,207		 Motor
Vehicles
£
17,500
-
17,500
15,621
376
15,997
1,503
1,879		 Total
£
405,503
83,912
489,415
218,880
49,717
268,597
220,818
186,623

9

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 2024

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 and Donations
Conferences, Events & Outreach
Salaries & NI Cost
Pensions
Rent, Rates & Water
Light & Heating
Telephone & Internet
Multimedia items & consumables
Travelling & Motor Expenses
Bank Charges & Interest
Sundry expenses
Books & Clergy Items
Insurance & Licences
Legal & Professional Fees
Accountancy Fees
Building Security & maintenance
Mortgage Loan Interest plus adjustments
Depreciation
Total		 2024
£
400,827
1,485
402,312
£
1,956
1,956
£
289,451
(79,820)
16,018
225,648
£
18,002
13,901
85,425
126,532
10,742
16,930
8,106
5,542
2,726
13,829
647
2,932
2,176
7,500
4,930
3,828
13,673
16,018
49,717
403,156		 2023
£
377,401
3,778
381,179
£
1,872
1,872
£
295,283
(26,755)
20,923
289,451
£
19,830
12,320
77,373
96,501
6,652
7,966
5,654
7,905
1,388
15,233
731
1,299
1,500
7,011
3,414
1,872
14,920
21,223
41,717
344,509

10

Registered Charity No: 1114056

REDEEMED CHRISTIAN CHURCH OF GOD OVERCOMERS HOUSE BRISTOL

Report and Financial Statements Year ended: 31ST DECEMBER 2024

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 2-5 6 7 8

Legal and administrative information Trustees Report Independent Examiner's report to the Trustees Statement of Financial Activities Balance Sheet Notes forming part of the financial statements

9-10