## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## Charity reg. no 1122134
TRUSTEES' REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## **Contents**
|Reference and administrative details of the charity|3|
|---|---|
|Report of the Trustees|4 – 8|
|Independent Examiner’s Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes forming part of the financial statements|12 - 17|
2
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees: Mr Lucky Albert Mr Oluwole Oyenekan Mr Vincent Balogun Dr Emmanuel Ampontua Mr Oluwasiji Daramola Charity Registration Number: 1122134 Principal Office: 111 Noreys Avenue, Wokingham RG40 1UY Pastor in charge: Pastor O Alabi Independent Examiner: MacGlory Consult Ltd 61 Fuller Way Andover Hampshire SP11 6UJ Bankers: National Westminster Bank Plc 5 High Street Bracknell Berkshire RG12 1DH
3
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees submit their annual report and the financial statements of RCCG Bracknell Victorious Assembly (the charity) for the year ending 31 December 2023. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in January 2015 (The FRSSE).
## **Status**
The charity is registered in England and Wales on 31 December 2007 with charity number 1122134. It is also known as RCCG Bracknell Victorious Assembly.
## **Appointment or Election of Trustees**
Trustees are appointed and or co-opted under the terms of the trust deed. **Policies Adopted For The Induction and Training of New Trustees** The induction process for a newly appointed trustee comprises 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 are in-sync to manage its affairs. The Parish pastor manages the day-to-day administration of the church.
## **Related Party Relationships RCCG**
Bracknell Victorious Assembly is a parish of The Redeemed Christian Church of God which has parishes all over the world. The parish's relationship with other parishes is governed by an 'Agreement for Common Purposes'.
## **Objectives and Activities**
To seek the advancement of the Christian religion by the teaching of The Redeemed Christian Church of God, to educate people in the word of God, the relief of poverty, to teach the knowledge of Jesus Christ all over the United Kingdom and to help in the relief of poverty in all the parts of the world; directly to our immediate members, their families, members of the local, national and international communities as occasion would demand, in cash and kind.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
## **The activities for achieving its objectives include:**
The church's Sunday and mid-week services are open to the public and our community to build on their Christian faith as well as share fellowship with us to meet spiritual and emotional needs. Apart from its Church activities, the charity was involved in the following public benefit efforts:
- Online Conferences and events organized during the year to promote the Christian faith include night vigil, prayers and counseling, weekly worship services, Bible studies, house fellowships, and youth mentoring services.
- Welfare support to members and the general public, and various missionary activities.
## **Public Benefits**
The Church continues to promote various events for our members and the general public to help meet spiritual and emotional needs. Below are some of the activities sponsored by the Church for the benefit of members and the Bracknell community at large:
- Weekly and Monthly Support programmes for young people.
- Youth Summer Camp
- Summer Family BBQ for Church members and Bracknell Community
- Power Conference
- Christmas Carol Service for Church members and Bracknell Community
Our efforts are geared towards supporting the programmes of our local council, promoting cohesion in our community, and positively impacting the lives of young people and the elderly. The trustees have paid due regard to the Charity Commission's guidelines on a public benefit before deciding what activities the charity should undertake.
5
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
## **Grant Making Policy**
The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to the RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG Programmes. The church supports other charities and missionary that shares its objectives in the advancement of the Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.
## **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 2200 hours are provided by volunteers during the year. If this is conservatively valued at £9.50 per hour, the volunteer's effort will amount to over £22,990.
## **Review of Activities, transactions, and financial position**
The church continues to enjoy continuous growth in its physical and spiritual life during the year, and in the advancement of the Christian faith by the doctrines set out in the Statement of Faith as contained in our trust deed. The church received income of £103,548 as voluntary donations. The net movement in funds for the period, as shown in financial activities, for the period was a surplus of £35,471. The value of The Redeemed Christian Church of God Bracknell Victorious Assembly’s net assets on 31 December 2023 is £372,791.
## **Risk Management**
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate against exposures to the major risks
6
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
## **Investment Policy**
The trustees have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest-bearing accounts.
## **Reserves Policy**
The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 5 months of resources expended which equals roughly £6,000 to £10,000 in general funds. They feel that this would enable the current activities to continue if there is a significant drop in funding. It would be necessary to then 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 unrestricted funds.
## **Principal Funding**
Funding has been provided mainly through tithes and offerings by church members. Pledges are also taken for specific projects.
## **Future Development**
The Charity aims at building on its current achievement in effectively spreading the ethos, love and hope that the Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all.
The charity is also looking to grow in membership and continue to develop its members to make a life-changing impact on society.
7
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the annual report and financial statements by applicable laws and regulations.
Charity law requires the trustees 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 Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the charity and of the surplus or deficit of the charity or that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then 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 company will continue in operation.
The trustees recognise 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 Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on an accrual basis and have been examined by an independent examiner, whose report is also appended.
Approved by the trustees on 07 October 2024 and signed on their behalf by:
**Mr Lucky Albert Trustee**
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## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
## **Independent examiner’s report to the trustees of The Redeemed Christian Church of God Bracknell Victorious Assembly**
I report on the accounts of the Trust for the year ended 31 December 2023, which are set out on pages 10 to 17.
Independent examiner’s report to the trustees of The Redeemed Christian Church Of God Bracknell Victorious Assembly Trust. I report to the trustees on my examination of the accounts for the year ended 31 December 2023, which are set out on pages 10 to 17.
Responsibilities and basis of report As the charity trustees of the Trust 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 giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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 to enable a proper understanding of the accounts to be reached.
MacGlory Consult Ltd
61 Fuller Way, Andover, Hampshire SP11 6UJ
Date: 07 October 2024
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## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023
|**Notes**
**2023**
**Unrestricted**
**Funds**
**Incoming Resources**
**£**
Donation, legacies, Gift Aid & similar incoming
2
97,681
Activities in furtherance of charity's object
3
-
Other income
4
220
**Total incomimg resources**
**97,901**
**Resources expended**
Grant Payable- Individual
5
450
Grant Payable- Institutional
6
26,879
Costs of activities in furtherance of charities ob
7
40,748
**Total resources expended**
**68,077**
**Net Incoming resources before other**
**recognised gains**
**29,824**
**Net movement in funds**
**29,824**
**Reconciliation of funds**
Total funds brought forward
282,471
**Total funds carried forward**
**312,295**|**Restricted**
**Funds**
**£**
-
5,647
-|**2023**
**2022**
**Total**
**Funds**
**Total**
**Funds**
**£**
**£**
97,681
86,652
5,647
2,516
220
930
**103,548**
**90,098**
450
1,200
26,879
20,144
40,748
37,463
**68,077**
**58,807**
**35,471**
**31,291**
**35,471**
**31,291**
337,320
306,029
**372,791**
**337,320**|
|---|---|---|
||**5,647**||
||-
-
-||
||**-**||
||**5,647**||
||**5,647**
54,849||
||**60,496**||
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
10
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## BALANCE SHEET AS AT 31 DECEMBER 2023
The accounts have been prepared in accordance with the special provision of the Statement of Recommended Practice:
Accounting and Reporting by Charity (SORP) issued in October 2019 as modified for smaller charities.
|**Notes**
**Fixed Assets**
Tangible Assets
8
**Current Assets**
Cash at bank and in hand (Including loan refund)
9
Debtors
10
Creditors: Amount falling due within a year
11
**Net Current Assets**
**Net Assets**
Unrestricted Funds
1b
Restricted Funds
1b
**Total Funds**|**2023**
**2022**
**£**
**£**
1,638
-
369,506
335,200
4,600
3,320
**374,106**
**338,520**
2,953
1,200
**371,153**
**337,320**
**372,791**
**337,320**
312,295
282,471
60,496
54,849
**372,791**
**337,320**|
|---|---|
Approved by the Trustee on 07 October 2024 and signed on their behalf by:
## **Mr Lucky Albert Trustee**
The notes on pages 12 - 17 form part of these financial statements.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## **1. Accounting Policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of Accounting**
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed assets investments at market value, and in accordance with the Companies Act 2006 and the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005.
## **(b) Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds may include a revaluation reserve representing the restatement of investment assets at market values where applicable. Designated funds are restricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Restricted funds are subject to restrictions on their expenditure imposed by their donors
## **(c ) 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. The following specific policies are applied to categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Invested income is included when receivable.
Incoming resources from the charitable trading activity are accounted for when earned.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## **(d) Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred and reported as part of the expenditure to which it relates:
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
13
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## **(e) Fixed Assets**
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, over the expected useful lives on the following basis:
Musical Equipments: 25 reducing balance Furniture and Fittings: 25 reducing balance Computer Equipments: 25 reducing balance Motor Vehicle: 25 reducing balance
|**2. Donations**
Tithes collection (including collection via POS)
Offerings collection (including collection via POS)
Thanks Giving
**3. Activities in furtherance of charity's objectivies**
Building fund
**4. Other income**
Other donation
**5. Grants payable- Individual**
Individual welfare|**_Unrestricted_**
**£**
73,168
23,763
750|**_Restricted_**
**£**
-
-
-|**2023**
**2022**
**Total**
**Total**
**£**
**£**
73,168
71,075
23,763
15,577
750
-
**97,681**
**86,652**
**2023**
**2022**
**Total**
**Total**
**£**
**£**
5,647
2,516
**5,647**
**2,516**
**2023**
**2022**
**Total**
**Total**
**£**
**£**
220
930
**220**
**930**
**2023**
**2022**
**Total**
**Total**
**£**
**£**
450
1,200
**450**
**1,200**|
|---|---|---|---|
||**97,681**|**-**||
||**_Unrestricted_**
**£**
-
**-**
**_Unrestricted_**
**£**
220
**220**
**_Unrestricted_**
**£**
450
**450**|**_Restricted_**
**£**
5,647||
|||**5,647**||
|||**_Restricted_**
**£**
-||
|||**-**||
|||**_Restricted_**
**£**
-||
|||**-**||
14
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|**6. Grants payable- Institutional**
Charitable giving- UK
**List of institutional grants payable**
RCCG WEM- World Evangelism
RCCG Central Office - Central Office Support
African Misson- Mission Support
Support - RCCG London
Support - RCCG UK Province Annual due and Support
Support- RCCG Camp ground
Support- RCCG Province 1
Support- City of Peace
Support- House Of Praise
Support- RCCG Winners Place
Support- RCCG South
Other Support
Support- Hope Alliance Oureach
Support - Aldershot Parish
**Total grant payable- Institutional**
**7. Costs of Generating Voluntary Income**
Seminar, conferences and subscriptions
Travel and subsistence
Hall hire, rent and rates
Mission and evangelism
Worship cost and church occasion
Welfare and hospitality
Printing, postage, stationaries and IT consumables
Music, liturgy and church group
Insurance and licence
Depreciation
Salary
Professional fees (Accountants)
Telephone and Internet services
Workers training
Publicity
Property planning fee
HMRC PAYE Cost|**_Unrestricted_**
**£**
26,879
**26,879**
**_Unrestricted_**
**£**
18,547
612
600
600
250
5,000
100
250
100
200
150
470
-
-
**26,879**
**_Unrestricted_**
**£**
7,884
3,406
7,388
1,346
2,334
1,311
795
777
646
546
10,000
3,023
1,167
-
-
-
125
**40,748**|**_Restricted_**
**£**
-|**2023**
**2022**
**Total**
**Total**
**£**
**£**
26,879
20,144
**26,879**
**20,144**
**2023**
**2022**
**Total**
**Total**
**£**
**£**
18,547
17,454
612
600
600
800
600
600
250
240
5,000
-
100
-
250
-
100
-
200
-
150
-
470
-
-
100
-
350
**26,879**
**20,144**
**2023**
**2022**
**Total**
**Total**
**£**
**£**
7,884
8,112
3,406
4,708
7,388
3,793
1,346
1,250
2,334
1,352
1,311
905
795
594
777
755
646
616
546
659
10,000
10,000
3,023
1,200
1,167
608
-
522
-
455
-
1,800
125
134
**40,748**
**37,463**|
|---|---|---|---|
|||**-**||
|||**_Restricted_**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-||
|||**-**||
|||**_Restricted_**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-||
|||**-**||
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## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|**8. Tangible Fixed Assets**
**COST**
At 1 January 2023
Additions
**At 31 December 2023**
**Depreciation**
At 1 January 2023
Depreciation charged for the year
**At 31 December 2023**
**Net Book value**
**At 31 December 2023**
**9. Cash Balance**
Cash and bank balance
**10. Debtors**
Loan to church member
**11 Creditors**
Central Office (WEM)
Accruals for professional fee
**12. Staff cost and numbers**
Salary|**Furniture**
**and Fittings**
**Musical**
**equipment**
**£**
**£**
-
-
-
515
**-**
**515**
-
-
-
129
**-**
**129**
**-**
**386**|**Computers &**
**Projectors**
**£**
-
1,669|**Total 31-**
**Dec 2023**
**£**
-
2,184|**Total 31-**
**Dec 2022**
**£**
7,271
-|
|---|---|---|---|---|
|||**1,669**|**2,184**|**7,271**|
|||-
417|-
546|6,612
659|
|||**417**|**546**|**7,271**|
||||||
|||**1,252**|**1,638**|**-**|
||||**2023**
**£**
369,506|**2022**
**£**
335,200|
||||**369,506**|**335,200**|
||||**2023**
**£**
4,600|**2021**
**£**
3,320|
||||**4,600**|**3,320**|
||||**2023**
**£**
1,453
1,500|**2022**
**£**
-
1,200|
||||**2,953**|**1,200**|
||||**2023**
**£**
10,000|**2022**
**£**
10,000|
||||**10,000**|**10,000**|
16
## THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY
## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|**13. Net Incoming resources/(Resources expended)**
This is stated after charging:
Depreciation
**The average number of employee during the year:**|**2023**
**2022**
**£**
**£**
546
659
**546**
**659**
**2023**
**2022**
**No.**
**No.**
1
1
**1**
**1**|
|---|---|
## **14. Trustee Remuneration & Related Pay Transactions**
No member of the Board of trustees received remuneration during the year.
## **15. Taxation**
As a charity, RCCG Bracknell Victorious Assembly is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.
17