REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] SANCTUARY OF POWER Charity REG.No 1120255 TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 MOSES-BOLE&CO (CHARTERED CERTIFIED FORENSIC ACCOUNTANTS CERTIFIED PUBLIC ACCOUNTANTS/ TAX ADVISERS And BUSINES CHARTERED MANAGEMENT CONSULTANTS REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] SANCTUARY OF POWER CONTENT Trusteos and AdVi￿r5 TNstees' Report 2to4 Independent Examlner"s Report to the Tr￿t￿5 ststemgnt of Flnanclal Aclivibos Baknce 8hegt Note8 forming part of the Financial Statgment 8t017 REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] SANCTUARY OF POWER LEGAL AND ADMINISTATIVE INFORMATION Genaral overseer: E.A. ADEBOYE Trustees: Pastor Daniel Oluwole Akanmu Catherine Atinuke Odumuyiwa Florence Olufunke Akanmu Registered Office 59 Hatfield Road Dagenham RM9 6JR Minister In Charge: Pastor Daniel Oluwole Akanmu Charity No 1120255 Bankers Lloyds TSB Market Place Romford Branch P O Box 1000 BX11LT Accountants MOSES-BOLE & CO Chartered Certified Forensic Accountants. Certified Public Accountantsrrax Advisers 38, Saints Brelades Court Balmes Road London N15TW THE REDEEMED CHRISTIAN CHURCH OF GOD RCCG of Power TRUSTEES REPORT YEAR END 2025 Sanctuar The Trustees havethe pleasure of submittingtheir report and accounts fortheyear ended 31st March 2025. The financial statement has been prepared in accordance with the accounting policies set out on pages 8 to 17 and complies with the Statement of Recommended Practice {SORP 20151, and the applicable law. Structure, Governance and Management Constitution The Charity is constituted under a Trust Deed dated and the Charity is registered with the number on the central register of the Charity Commission of England and Wales. The principal Objettives of the Charity arethe advancement of the Christian faith worldwide and relief of poverty. Method of Appointment or Elettion 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. Organisational Structure and Decision Making The church is organised so that the trustees meet regularly to manage its affairs. There is a part-time Minister and Volunteers, who manage the day-to-day administration of the church. Related Party Relationships RCCG- Santtuary of Power is a member of the Redeemed Christian Church of God IRCCGI, which has Parishes all over the world. The relationship is governed by an 'Agreement for common purposes between the parishes and RCCG. Development aciivities and achievements in the year The members who are with us have grown spiritually due to the various trainings they have received especiallythe Ministers. During this Christmas, our Youth Department visited Queen Elizabeth Hospital in Romford (Children Department) and made presentation of gifts to sick children. Furthermore, Our Women Department visited Summerfield Residential Home in Romford with Christmas gifts. Our weekly attendance has continued to increase and our need for a bigger place is now a matter of necessity. The short term solution was for us to have two services every Sunday which is quite telling on the pastors and volunteers. We believethat God will provide a solution in the comin8year. We have continued to engage with our community through the six projetts that we run for the benefit of the community. In order to reduce crime incident in the community. Evangelism was stepped-up. We also do monthly Environmental Clean-up of our Community to the admiration of our Neighbours. We had during the year organised projects for the need of the homeless and the general public bringing together people to have some BBQ accompanied with music and a bouncy castle for the children. The best part of this event is that we invite people who have been freed from drug use to share their testimonies to encourage others to do the same. Risk Policy The Trustees have a55essed the major risks to which the Charity is exposed, particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate any risk exposure. Future development We are hoping to establish a new parish, as we could not achieve this, this year, as our baby parish still needs supporting at this time. Our pursuit of acquiring a bigger place for the charity is now very vigorous as it is now needed. A building committee is now in place, and they have requested that a new bank account be opened to take all the building funds. This has been referred to the trustees for approval. The problem we have duringwinter, atthe end of the day, at the shade project has continued to haunt us, and we hope to establish a night sheiter in the near future if we have the money. Finally, we are looking into the possibility of owning and running our own orphanage in the southern part of Nigeria. Review of Financial Position The net incoming resources for the year amounted to £2.156.1912024 was £8191. All these have been unrestricted reserves, and no fund is allotted to restricted projects. Reserve Policy The trustees have established a policy whereby the unrestrirted funds not cornmitted or invested in tangible fixed assets [the free reservesl held bythe church should be 3 month5 of annual expenditure. At this level, the trustees believe they can continue the church's current activities in the event of a significant funding drop. Principal Funding This is provided mainly through voluntary tithes and offerings by the church members. Pledges are also taken for specific projects. Statement of Trustees, Responsibilities The Charities Act requires the Trustees to p￿pare financial statements for each financial year, which give a true and fair view of the surplus or deficit of the charity for that period. Of the stste of affairs of the charity and in preparing those financial statements, the trustees are requested to: l. Select suitsble accounting policies and then apply them consistently; ii. Make judgements and estimates that are reasonab5e and prudent. State whether applicable accounting stsndards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial ststements. iv. prepa￿ the financial ststements on the going con￿rn basis Un￿55 it is inappropriate to presume that the charity wtll continue in operation. The Trustee5 are responslble for keeplng pn)per accountin8 records which disclose wlth reasonable accuracy at any time the financial position of the d￿rity and to enablÈ them to ensu￿ that the financIal ststements comply with the Charities Art 2011. They are also responsible for safeguarding the assets of the charity and hence for tsklng reasonable Steps for the prevefttion and detÈction of fraud and ot￿r irregularities. Trustees and other infrirmation The members of the Board of Trustees who served during the year were: Catherine AtinukÈ Odumuyiwa SlGNED......c￿..L￿￿ FloretKè Oiufunke Akanmu SIGNED.-.-_-. MOSES BOLE &co INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES REDEEMED HRI TIAN CHURCH OF GOD-SANcfuARY WER I report on the accounts of the charity for the year ended 31W March 2025, which are set out below and notes to the financial statements on pages 7 to 16 Respective Responsibilities of Trustees and Examiners As the Charitys Trustees, you are responsible for the preparation of the accounts; you consider that an audit is not required for this year {under section 144{2) of the Charity Act 2011{the 2011 act) and that an independent examination is needed. It is my responsibility to Examine the account (under section 145 of the Act); follow the procedures laid down in the General Directions given by the Charity; Commission (under section 145{5) (bl of the 2011 Act and State whether particular matters have come to my attention. Basis of Independent Examinerfs report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes 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 the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair vie￿, and the report is limited to those matters set out in the statement below. Independent Examinerfs Statements In connection with the examination, no matter has come to my attention: l) Which give me reasonable cause to believe that in any material respect the requirements To keep accounting records in accordance with section 130 of the 2011 Act; To prepare accounts which accord with the accounting records and to complywith the accounting requirements of the 2011 Act have not been met or To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached Moses O E Igunnubole. BA (HONSJ FAIA FCP4 FFA F Managing Partner FIG CPFA... MOSES-BOLE&CO Chortered Certified Forensic Accountt7nts Certified Profes5ionalAccountonts/Tax Advisers And Business Chartered Manogement Consultants ". +44 758 407 $572 T.. +44 020 7923 4660 E. Tr￿geS￿.¢c1n W. n￿￿e$-￿(￿ L. 39 St Frt*Yes (thjrt BaktEs road. London. Unitgj Kingdom, N1 srw REDEEMED CHRISTIAN CHURCH OF GODtRCCG]-SANCTUARY OF POWER STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR EMDED 31ST AIARCH 2025 Restn"ded Endow. Notes Unrestrmxed income ment Funds Furbjs FU￿lS Pn"or year Funds Tolal FuThJs Incomlng r•s¢)urces Incom$ and endowments from: Donations and legaues Total Rosource$ •xp•nd•d Exp•ndlture on: Direct Cost Support Cost Governan￿ Cost Total 68.138.98 68.138.98 88.138.98 67.289 68,138.98 67.289 51.497.78 13.385.01 1.1CKI.(KI 65.982.79 51,497.78 50.866 13.385.01 14,504 1.100.00 1.100 65.982.79 66,470 N•t mov•m•nt In lund5 2156.19 2156.19 819 Reconclliatlon of lundsz Total funds brought forward Totsl funds ¢arYi•d for4Ya 16.020.48 18.176.67 16,020.48 15,201 18 176.67 16.020 REDEEMED CHRISTIAA CHURCH OF GODIRCCGJ-SANCTUARY OF POWER BALA14CE SHEEf AS AT 31STIA4RC*I Totsl Funds FurKIs FuThfjs fangble as8eL8 Total assets 10.323. 10,323 72 to.323 72 122V2 12.262 Cath at bonk Yi hand 952.95 8.952.95 4.8S9 1.1￿.£ 3.769 1&176.67 18,178.Sl 16.020 176S7 18.176tsr 18 020 ofth• CJMTffity UnEB5tiictsd funds Rev•luakn To(•llun 18.176.87 18.176.67 16,020 18 178A7 tT&S7 16 D* ofapp1ov￿. 18. 0 1 . 20 1 PrNTrt Name. a4T ￿E¢l f)1SLC fv REDEEMED CHRISTIAN CHURCH OF GODtRCCG]-SANCTUARY OF POWER NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025 Note 1 Basis of pr•paratlon 1.1 Basls of accountlng These accounts have been prepared under the his1￿Cal cost ￿1venti￿ with ilems reccrfjnised al cost or transaction value unkss otherwse staled in the relevant notelsl lo these accounts. The accounts have been prepared in accordance wrth. ' and wth" the Statement of RecommerKled Pract￿e. A£counling 8NI Reporting by Charilies preparing accounts in accorljar￿e v&th the Financial ReportsThJ Standard applicable in the UK and Re￿)blIC of Irelarvj (FRS 102) is5￿d on 16 Juty 2014 and vthh. the Financ￿81 Re￿ling St8ndard applicab￿ in the United lfjngdorn and Republic of Ireland IFRS 1021 and with the Chariiies Act 2011. The Charity CO￿tIluteS 8 public benefti ￿ as deffi[￿d by FRS 102." 1.2 Golng c￿cern Consldering the steadlevel of Incomlng ￿SourceS and mwnbersthp numbertho Chwity Is a going concern with no anyknown urtfore￿ cirrumstance 1.3 Chang• of acc¢•untlfig policy The accounts present a tNe and fair view and the a¢xounling polNx adopted are those outlin￿j in the note wrth no change in policy 1.4 Changa8 to accounllry estln No changes to ac¢(AJn￿g estimates have oc(yJrred in ts reporbrvJ period13.46 FRS 102 SORPI. .5 Materfal prlov year •rropJ No material prioryear error have been klentrfied in the reporm peric¥J13.47 FRS 102 SORP). REDEEMED CHRISTIAN CHURCH OF GOD[RCCG]-SANCTUARY OF POWER NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2025 Not• 2 2.1 INCOME This standard Irsl of aecounting polioes has been applied by the thanty except for those ttcked No or "Nla" Where a different or addrtional policy has been adopted then this is detaiw in the box below. Acc•unting polki•s Recognltlon of Incomo These are included in the Slalement of Financial Activrties (SOFA) when_. . the chanty becomes entrtled to the re50ur¢es". ' it is more likely than not that the trustees wll receive the resources: and . the monetary value can be measured WFtti suffic*nt reliabilty. Offsgttlng There is no ￿gaCY received during thi5 period. Grants and donatlons Grants and donations are only included in the SOFA when the gen8ral income recognition cr¢teria are mel (5.10to5 12 FRS 102 SORPI In the case of perfomiance related grants, income must onty be recognised to the extent that the charity has provide(I the specified goods or services as 8ntitlement to the grant only ¢xcurs when the performance related Cond￿"0n$ are met15.16 FRS 102 SORP). Lggacles There is no legacy rerRived durtng thi8 perioa. Government grants No government grant was receNe(I during this period. Tax reclalm$ on donations and gilts Grft Aid receivable is included in income when there is a valKJ declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an atjdition lo the same ftjnd as the inltial donation unless the donor or the lem)s of the appeal have specified otherwise. Contrnctual Income and perforniance r•lated grants This is not applicable Donat•d goods This is nol applicab Donat•d servl¢•s and facllitla$ Donated servtrcas and facilities are in¢luded in the SOFA vthen receNed at the value ol the gtft to the charty provided the value of the gift can be Tneasured reliabty. Donated services and facilities that are consumed immediatety are recognised as income wrth an equNalent amount recognised as an expense under the appropriate heading in the SOFA. Support costs Th& charty ha$ incurred expendrture on 51JPPOrt Costs. Volunteer help The value of any voluntary help ￿1ve￿ is not induded in the accounts but is described in the Iruslees, annual rnport. Income from interesl royaltles and dlvidend Not applicable during this period. Income from membgrship subscrlptlon$ Tithes and offering received from the members are in the n8￿re of a 9fft are recognised as tk)nations. and Legacies S•ttlement of Insurance clalms Insurance claims are onty included in the SOFA when the general income recognrt.bon crtteria are met15.10 to 5.12 FRS 102 SORP} and are indLKled a5 an item of other income in the SOFA. Investment gains and losses This inGlude$ any realise(l or unrealised gains or losses on the sale of invest￿nts and any gain or loss resulting from revaluing investments to market value at the end of the year. 2.2 EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised where it is more Iki ety than not that there is a legal or constructive obligation commrtting Ihe charity to pay out resources and the amount of the obligation can be measured wth reasonable certainty. Governance and support c•sts Support costs have been allo¢aled bet*Een govemance costs and other support. Govemance costs omprise all costs invofving public a¢countabilrty of the charity and ils compliance wilh regulats.on and good practice. Support costs include central functions and havo been allocated to actNrty cosl categories on a basis eonsistenl with the use of resources. eg allocating property costs by fl¢)or a￿a$, or per caprta, staff costs by the time spent and other costs by their usage. Grants Y•ith performance condltlons The Chartty i% not awarding grant to any organisation Grants payable wlthout perforniance conditions Where there are no condrtions attaching lo the granl that enables the donor charity to realESt￿Ify avoid the commitment, 8 liabilty foT the full funding obligation must be ￿CogniSed. Redundancy cost The charty made no redundancy payments during the reporting period. Deferred Incomo No material item of deferred income has been indudèj in the w)unts. Creditors The charity has creditor5 which are measured at settlement amounts te5s any trade discounts Provlsions fr•Y Ilablllties A liabilty is measufed on ￿cOgnition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obltyion at the reporting date Basic financial •n5truments The charity accounts for basic financial instruments on inibal recoynikn.on as per paragraph 10.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19. FRS 102 SORP. 2.3 ASSETS Tangible fixed assets for use by charfty These are capitalised if they can be used for more than one year. and cost at least They are valued at cost. The depreciation rates and methc*Js used are dBclosed in note 14. 10 Intangible fixed assets The charity has Intangib￿ fixed assets. that is, non4nonetsry assets that do not have physical substance but are ￿entIfiable and are conlrolw by the charity through custody or kgal righls. The amortisalion r8tes and methods used are di%closed in note 15 They ar? valued at cost. Horitage assets The charEty has heritage assets. that is, noNnonetary assets with historic, artislic. scienlific, technological, geophysical or en¥ironmentsl qu8littes that are hebj and maintained principally for their contribution lo knowledge and culture. The depreCIa￿n rdtes and methods used as disclosed in note 16. They are valued at cosL l￿￿$tn￿nts Fixed asset investments in quot￿ shares, traded bonds and similai investments a￿ valued al initialty al cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investrnents un￿$ fair value cannot be measured reliabty in which case il is measured at cost less impaimient. Investments held for resale or pending their Sa￿ and cash and cash equ￿a￿nts V￿th a maturity date of less than 1 year are treated as current asset investments stocks and work In progress Stocks held for sale as part of non-charitable trade are measured * the lower or cost or net realisable value. Goods or services provided as part of a charitable athtty are measured at ngt realisab￿ value based on the seENice potential prov¢ded by items of stock. Work in progress is valued at cost ￿ any foreseeable loss that is likety to occur on the contract. Debtors Debtors (including trade debtors and loans rece[vab￿) are measurtd on initial TecLb3nition at settlement amount after any trade discounts or amount advanced by the charity. Subsequentty. they are measured at the cash or other consMJeration expeded to be ￿eeNed. c￿￿ent assot inv￿lMOnt8 The charity has has investments which rt hokls for resak or pending their Sa￿ and cash and cash equivalents I￿1h a maturity date ￿$S than one year. These indude cash on deposit and cash equivalents with a malunty date of tess than one year hebj for investment purposes rather than to meel short temi cash commrtments as they f811 due. They are valued at fair value except where they qualify as bas￿ finanu81 instruments. POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE There is no any other policies adopted. 11 REDEEMED CHRISTIAN CHURCH OF GODIRCCGI4ANCTUARY OF POWÈR NOTESTOThE ACCOUNTS CONTINUED}FOR ThE YEAR E14DED 315TIIARCH 3J25 Prior Tolal Fund¥ Funds Fund8 Fund• Fund8 Tithes Offerings ThanksgNing TOTAL INCOIAE 58.315.98 8.483.00 1 340.00 68.138.98 SB.315.98 60.161 8.483.(MJ 5,803 1 340.00 1.325 138.98 67.289 12 REDEEMED CHRISTIAN CHURCH OF GODtRCCG]4AMCTUARY OF POWER NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31ST XARCH 2026 Mote 4 An*￿15 ol expettdilure Prk>r Analysls ol •xp••dltur• Unrostrictgd in¢ome EndO￿Tr Funds Funds Fun)mmilments offanglble assets. = NIA Iiiil Details oflhe existen￿ and c3trying amounts of ryormty. plant aThJ eqUIpn￿ lovthK* the t*8rity has resth.cted ti¥e or that are pledged a5 secunty for Ik4biltbe5. = NIA 15 REDEEMED CHRISTIAN CHURCH OF GOD[RCCG]-SANCTUARY OF POWER NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2025 Noto 7 Creditors and accruals Please wmplete this note if the thanty has any ¢yeditors or a(￿ual$ Amounts falling due after more than one year This Year Last Year 7.1 Anatysis of creditors Amounts falling due within one year This Year Last Year Accruals and deferred income Totsl 1,100.00 1,100.00 1.100.00 1.100.00 THERE IS NO DEFERRED INCOME DURING THIS PERIOD 16 REDEEMED CHRISTIAN CHURCH OF GODtRCCG]4ANCTUARY OF POWER NOTES TO THE ACCOUNTS (CONTINUED> FOR THE YEAR ENDED 31ST MARCH 2025 Note 8 Cash at bank and In hand Thls Year Last Year Cash al bank and on hand Total 8.952.95 8,952.95 4,859 4,859 17