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2021-03-31-accounts

Charity number: 1114058

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 March 2021

Doc ID: 8a9ed2face25281f73a46ff56a2f96fb57d719df

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Contents Page For the year ended 31 March 2021

Report of the Trustees 1 to 3
Independent Examiner's Report to the Trustees 4
Statement of Financial Activities 5
Statement of Financial Position 6
Notes to the Financial Statements 7 to 13
Detailed Statement of Financial Activities 14 to 15

Doc ID: 8a9ed2face25281f73a46ff56a2f96fb57d719df

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Report of the Trustees For the year ended 31 March 2021

The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

The objects of the church are:

The church supports christian organisations such as World Evangelism Mission. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need.

Objectives and aims

The church has adopted the following strategies for achieving it's objectives: - Organisation of seminars in the church with proven speakers and ministers of faith to guide members in the various aspects of Christian faith; and

The following activities are aimed at achieving the objectives

Statement on public benefit

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

Volunteers

The church is grateful for the generous support of its volunteers who continually make an invaluable contribution to the operations of the charity by their involvement in service provision, office work and administration. It is estimated that over 16,000 volunteer hours are provided every year. If this is valued at £10.00 an hour the volunteer effort amounts to over £160,000.

ACHIEVEMENTS AND PERFORMANCE

In addition to its usual Sunday and weekly services, the church carries out a wide range of activities in pursuance of its charitable aims.

These activities include classes for children and teenagers where they are taught the tenets and values of the Christian faith, fellowships for various groups in the church including men fellowship, women fellowship, elders fellowship, youth fellowship.

The trustees consider that these activities summarised below, provide benefit to those who worship at our church and the wider community:

During the COVID-19 pandemic, many of these services were held online where possible.

September is the family month. This programme is intended to impact families in the community by building stronger bonds in the homes and it is open to the public. During this programme, the church organised several activities including interdenominational football matches, family fun day to Broadstairs beach, and Couples breakfast which holds in October.

The church also holds several community outreach programmes where fruit and food parcels are distributed to the community.

Hampers and gifts are given to our neighbours through our door to door outreach.

In January the church hosts a 7 day Praise event opened to the general public called Jericho Praise;

The church holds various prayer and evangelical events open to the general public in the months of July and October;

All Nations Celebration Day in November;

Throughout the year the church opens its doors to members of the public as a place of respite from the numerous challenges people face, providing counselling and welfare assistance. The charity also partners with Fareshare UK to distribute food every Wednesday to those less privileged in the community.

FINANCIAL REVIEW

The charity reported a total income of £196,392 (2020: £223,939) and a net loss of £(5,762) (2020: £(40,612) in the year to 31 March 2021, accumulated funds were £(64,329) (2020: £(58,567).

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Report of the Trustees Continued

For the year ended 31 March 2021

Reserves

The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the Charity's activities and are working towards achieving it.

The aim is to build reserves levels to approximately 3 months of unrestricted expenditure.

Going concern

At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

Funds in deficit

The trustees are continuously looking at areas of possible cost reductions where they could save money without negatively affecting the quality of service provided to the members and general public. Already, the Trustees have taken some measures to reduce office costs and overheads while continually striving for increased membership and alternative funding sources to increase income. In this current year, income was affected by the COVID-19 pandemic.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

RCCG Power of Jehovah is a charitable trust and is controlled by its governing document, a trust deed dated 29 March 2006.

Recruitment and appointment 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.

New Trustees are provided with copies of the Charity Commission's guidance and are given an introduction to the activities of the charity. Trustees are also provided with training.

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Charity registration number 1114058 Principal address CHARITY SECRETARY 7A SCOTTS PASSAGE SPRAY STREET LONDON SE18 6AX

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Rev Yemi Adedeji (Chair) Dr Enitan Odunaike (Appointed: 01 July 2020) Pastor Tutu Sofowora Pastor James Adeyemi Independent examiners Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dartford DA1 1BX

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Report of the Trustees Continued

For the year ended 31 March 2021

Bankers

Lloyds TSB 120 Lewisham High Street Lewisham London SE13 6JG Barclays Bsnk PLC Victory Parade 8-9 Plumstead Road London SE18 6FL

Approved by the Board of Trustees and signed on its behalf by

............................................................................. 28 January 2022

Rev Yemi Adedeji (Chair)

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Independent Examiners Report to the Trustees

For the year ended 31 March 2021

I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity trustees, 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 Act.

Independent examiners statement

I have completed my examination. I 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.

Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dartford DA1 1BX

28 January 2022

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Statement of Financial Activities For the year ended 31 March 2021

Notes
Income and endowments from:
Donations and legacies
2
Investments
3
Other income
4
Total
Expenditure on:
Charitable activities
5/6
Total
Net expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
189,562
5
6,825
196,392
)
(202,154
)
(202,154
)
(5,762
)
(58,567
)
(64,329		 2020
£
211,249
11
12,679
223,939
)
(264,551
)
(264,551
)
(40,612
)
(17,955
)
(58,567

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Statement of Financial Position

As at 31 March 2021

Notes
Fixed assets
Tangible assets
12
Current assets
13
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
15
Net assets
The funds of the charity
Restricted income funds
16
Unrestricted income funds
16
Total funds		 £
2021
4,170
4,170
13,470
11,805
25,275
)
(43,774
)
(18,499
)
(14,329
)
(50,000
)
(64,329
-
)
(64,329
)
(64,329		 £
2020
2,943
2,943
-
3,235
3,235
)
(64,745
)
(61,510
)
(58,567
-
)
(58,567
-
)
(58,567
)
(58,567

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Rev Yemi Adedeji (Chair) Trustee

28 January 2022

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements

For the year ended 31 March 2021

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

Statement of cash flows

The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small.

Funds

Fund is mainly through voluntary donations of tithes and offerings by the church members and the government gift aid scheme. Other income is derived from rental of the church premises and the church car park.

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.

Charitable activites

Charitable activities are those costs relating to activities carried out to meet the objectives of the charity and include directly attributed costs as well as support costs.

Allocation and appointment of costs

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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:

Computer equipment Fixtures and fittings

20% Straight line 20% Straight line

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements Continued

For the year ended 31 March 2021

2. Income from donations and legacies

Unrestricted funds
Donations received
Grants received
Analysis of grants received
HMRC - CJRS		 2021
£
187,090
2,472
189,562
2021
£
2,472
2,472		 2020
£
211,249
-
211,249
-
-

During the period the charity benefited from £2,472 of government grants in the form of the Coronavirus Job Retention Scheme. In accordance with our accounting policy this credit is included in donations and legacies - grants receivable within the Statement of Financial Activities over the same period as the staff costs it compensates.

3. Investment income

Unrestricted funds
Bank interest receivable		 2021
£
5
5		 2020
£
11
11

4. Other income

Unrestricted funds
Other income		 2021
£
6,825
6,825		 2020
£
12,679
12,679

5. Costs of charitable activities by fund type

Unrestricted funds
Charitable Activities
Support costs		 2021
£
72,070
130,084
202,154		 2020
£
96,031
168,520
264,551

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements Continued For the year ended 31 March 2021

6. Costs of charitable activities by activity type

Support costs
Activities
undertaken
directly
£
£
Support costs
Charitable Activities
130,084
72,070
nalysis of support costs
Charitable Activities
Support Costs
Governance costs
et income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation of owned fixed assets
Accountancy fees
Staff pension contributions
taff costs and emoluments
Total staff costs for the year ended 31 March 2021 were:
Salaries and wages
Social security costs
Pension costs		 2021
£
202,154
2021
£
123,944
6,140
130,084
2021
£
1,351
6,140
5,176
2021
£
69,260
16,275
5,176
90,711		 2020
£
264,551
2020
£
162,473
6,047
168,520
2020
£
3,156
6,047
2,443
2020
£
85,000
7,518
2,443
94,961

7. Analysis of support costs

8. Net income/(expenditure) for the year

9. Staff costs and emoluments

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements Continued

For the year ended 31 March 2021

Administration
Pastors		 2021
3
2
5		 2020
2
2
4

10. Trustee remuneration and related party transactions

There were no related parties transactions in either the current year or prior year.

No remuneration has been paid to the Trustees in either the current or preceding period.

11. Comparative for the Statement of Financial Activities

Income and endowments from:
Donations and legacies
Investments
Other income
Total
Expenditure on:
Charitable activities
Total
Net income/expenditure
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
206,482
11
12,679
219,172
)
(209,784
)
(209,784
9,388
)
(67,955
)
(58,567		 Restricted
funds
£
4,767
-
-
4,767
)
(54,767
)
(54,767
)
(50,000
50,000
-		 2020
£
211,249
11
12,679
223,939
)
(264,551
)
(264,551
)
(40,612
)
(17,955
)
(58,567

12. Tangible fixed assets

Cost or valuation
At 01 April 2020
Additions
At 31 March 2021
Depreciation
At 01 April 2020
Charge for year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020		 Fixtures and
fittings
£
141,730
-
141,730
138,787
785
139,572
2,158
2,943		 Computer
equipment
£
-
2,578
2,578
-
566
566
2,012
-		 Total
£
141,730
2,578
144,308
138,787
1,351
140,138
4,170
2,943

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements Continued

For the year ended 31 March 2021

13. Debtors

Amounts due after more than one year:
Other debtors
Creditors: amounts falling due within one year
Loans and overdrafts
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Other creditors		 2021
£
13,470
13,470
2021
£
1,391
36,915
5,468
43,774
2021
£
50,000
50,000		 2020
£
-
-
2020
£
1,391
54,526
8,828
64,745
2020
£
-
-

14. Creditors: amounts falling due within one year

15. Creditors: amounts falling due after more than one year

16. Movement in funds

Unrestricted Funds

General
General
Unrestricted Funds - Previous year
General
General		 Balance at
01/04/2020
£
)
(58,567
)
(58,567
Balance at
01/04/2019
£
)
(67,955
)
(67,955		 Incoming
resources
£
196,392
196,392
Incoming
resources
£
219,172
219,172		 Outgoing
resources
£
)
(202,154
)
(202,154
Outgoing
resources
£
)
(209,784
)
(209,784		 Balance at
31/03/2021
£
)
(64,329
)
(64,329
Balance at
31/03/2020
£
)
(58,567
)
(58,567

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements Continued

For the year ended 31 March 2021

Purpose of unrestricted Funds

General

Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted Funds

Restricted Funds - Previous year
General		 Balance at
01/04/2020
£
-
Balance at
01/04/2019
£
50,000
50,000		 Incoming
resources
£
-
Incoming
resources
£
4,767
4,767		 Outgoing
resources
£
-
Outgoing
resources
£
)
(54,767
)
(54,767		 Balance at
31/03/2021
£
-
Balance at
31/03/2020
£
-
-

Purpose of restricted funds

General

Restricted funds are subject to specific conditions set out by donors as to how those funds may be used.

17. Analysis of net assets between funds

Unrestricted funds
General
General		 Tangible fixed
assets
Net current
assets /
(liabilities)
Creditors >
one year
Net Assets
£
£
£
£
4,170
)
(18,499
)
(50,000
)
(64,329
4,170
)
(18,499
)
(50,000
)
(64,329

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Notes to the Financial Statements Continued

For the year ended 31 March 2021

Previous year

Unrestricted funds
General
General		 Tangible fixed
assets
Net current
assets /
(liabilities)
Creditors >
one year
Net Assets
£
£
£
£
2,943
)
(61,510
-
)
(58,567
2,943
)
(61,510
-
)
(58,567

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Detailed Statement of Financial Activities

For the year ended 31 March 2021

INCOME AND ENDOWMENT
Donations and legacies
Tithes & Offerings
Gift Aid
Building Fund
Grants Receivable
Investments
Bank Interest Receivable
Other income
Hall Rental
Parking Rental
Total incoming resources
EXPENDITURE
Charitable activities
Staff Costs - Wages & Salaries
Staff Costs - Social Security Costs
Staff Costs - Pension Contributions
Welfare
Accomodation
Travel
Honorarium
Charitable Donations
Other Ministry Costs
Musicians
SUPPORT COSTS
Support Costs
Staff Costs - Wages & Salaries
Staff Costs - Social Security Costs
Staff Costs - Pension Contributions
Depreciation - Owned Assets
Advert & Promotion
Hospitality
Insurance
Heat & Light
Rates
Telephone
Print, Postage & Stationary
Repairs & Maintenance
Bank Charges
Legal & Professional Fees
Other Expenses
Small Music Equipment
Processing Fees
Office Supplies		 £
2021
172,778
14,312
-
2,472
189,562
5
5
5,900
925
6,825
196,392
)
(30,733
)
(8,814
)
(1,501
)
(3,815
-
-
)
(4,205
)
(1,300
)
(20,702
)
(1,000
)
(72,070
)
(38,527
)
(7,461
)
(3,675
)
(1,351
-
)
(286
)
(803
)
(5,789
)
(962
)
(4,227
)
(844
)
(4,428
)
(804
-
)
(2,947
)
(660
)
(531
)
(1,186		 £
2020
206,482
-
4,767
-
211,249
11
11
11,239
1,440
12,679
223,939
)
(43,894
)
(4,811
)
(1,337
)
(200
)
(1,952
)
(1,184
)
(13,338
)
(730
)
(22,595
)
(5,990
)
(96,031
)
(41,106
)
(2,707
)
(1,106
)
(3,156
)
(4,987
)
(305
)
(829
)
(7,660
)
(569
)
(3,694
)
(1,215
)
(2,405
)
(1,841
)
(1,758
)
(5,984
)
(236
)
(4,287
)
(964

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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) POWER OF JEHOVAH Detailed Statement of Financial Activities Continued

For the year ended 31 March 2021

Rent
Media
Governance costs
Accountancy Fees
Total resources expended
Net Expenditure		 )
(47,463
)
(2,000
)
(123,944
)
(6,140
)
(6,140
)
(202,154
)
(5,762		 )
(77,664
-
)
(162,473
)
(6,047
)
(6,047
)
(264,551
)
(40,612

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