THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY Charity reg. no 1122134 TRUSTEES, REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY Contents Reference and administrative details of the charity Report of the Trustees Independent Examinerfs Report Statement of Financial Activities 10 Balance Sheet Notes forming part of the financial statements 12-17
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 2024 Trustees: Mr Lucky Albert Mr Oluwole Oyenekan Mr Vincent Balogun Dr Emmanuel Ampontua Mr Oluwasiji Daramola Charity Registration Number: 1122134 Principal Offi. 111 Noreys Avenue. Wokingham RG40 1 UY Pastor in charge: Pastor O Alabi Independent Examiner: MacGlory Consult Ltd 61 Fuller Way Andover Hampshire SP116UJ Bankers: National Westminster Bank PIC 250 Bishopsgate London EC2M 4AA HSBC Bank PIC 8 Canada Square London E14 5HQ
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees submit their annual report and the financial statements of RCCG Bracknell Victorious Assembly (the charity) for the year ending 31 December 2024. 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 Dember 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 temis 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.
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 The activities for achieving its objectives include: The church's Sunday and mid-week ServIS 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 servi 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.
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 £11.45 per hour. the volunteer's effort will amount to over £25,190. Review of Activities, transactions, and financial position The church continues to enjoy continuous growlh 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 £104.456 as voluntary donations. The net movement in funds for the period, as shown in financial activities, for the period was a surplus of £38.031. The value ofThe Redeemed Christian Church of God Bracknell Victorious Assembly's net assets on 31 Dember 2024 is £395,752. 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
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 The charity is also looking to grow in membership and continue to develop its members to make a life-changing impact on society.
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 22 October 2025 and signed on their behalf by.. Mr Lucky Albert Trustee
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinerfs 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 2024, 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 2024, 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: 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. Oludayo Olayiwola MacGlory Consult Ltd 61 Fuller Way, Andover, Hampshire SP116UJ Date: 22 October 2025
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Notes 2024 Total Funds 2023 Total Funds Unrestricted Funds Restricted Funds Incoming Resources Donation, g3cles, Cft inconing Actimties in furtherance of charity's object Other income Total incomimg resources 97,793 97,793 4,422 2,241 97,681 5,647 220 4,422 2,241 422 Resources expended Granl paYab- Individual Grant paYab- Institijtional Costs of actimties in furtherance of charities ob Total resources expended 1.015 23,527 41,883 1.015 23,527 41,883 450 26,879 40,748 Net Incoming resources before other recognised galns 4.422 38.031 35.471 Net mvement in funds Reconciliation of funds Total funds brought formord Total funds carried forward 4,422 38,031 35,471 297.225 60.4 918 357,721 337,320 372 791 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. io
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY BALANCE SHEET AS AT 31 DECEMBER 2024 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 2024 2023 Fixed Assets Tangib Assets 2,361 1,638 Current Assets Cash at bank and in hand Ilncluding k)an refund) Debtors 10 11 408,989 369,506 4.600 374,106 408.989 Creditors.. AnKJunl falling due ¥Mlhin a year Net Current Assets 12 15.598 393.391 2.953 371.153 Net Assets Unrestricted Funds Restricted Funds 1b 1b 330.834 64.918 312.295 60.496 Total Funds 395 752 Approved by the Trustee on 22 October 2025 and signed on their behalf by: Mr Lucky Albert Trustee The notes on pages 12 - 17 form part of these financial statements. li
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 ftjnds 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 ServIS provided by volunteers has not been included in these accounts. Invested income is included when re1Vable. Incoming resources from the charitable trading activity are accounted for when earned. 12
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (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 2024 (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. t)onations UnrestrKted Restricted 2024 Total 2023 Total Tithes collection (including colthtion via POS) Offerings collection {inchJdiThJ colkntion wia PCE} Thanks Gimry 69.714 26.344 1,735 69,714 26,344 1,735 73,168 23,763 750 3. tIvItieS in furtherance of charty's obiectivies Unrestrrted Restricted 2024 Total 2023 Total Building fund 4,422 4,422 5,647 4. Other incon UnrestrKted Restricted 2024 Total 2023 Total er donation 2,241 2,241 220 220 5. Grants payable- Individual Unrestrrted Restricted 2024 Total 2023 Total Indimdual welfare 1,015 1,015 450 14
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 6. Grants payable- Institutional UnrestrKted Restricted 2024 Total 2023 Tolal Charitable giMng- UK 23,527 23,527 26,879 26.879 List of institutional grants payable Unrestrkted Restrlcted 2024 Total 2023 Total RCCG WE Worfd Evangelism RCCG Central orrice- Central (Jfice Supwrt African MissorF Mission Suppjrt Support- RCCG London Suptth_ RCCG UK Proinnce Annual due and Suptmyi Supp(t- RCCG Camp ground SUp- RCCG Prrince 1 Supp(Kt- City of Peace Supp(fft- House or Praise Support- RCCG Winners Place Supp(Kt- RCCG South er Support SuppcKt- RCCG &ace AssemLty Bank charges Supp(Kt- Freedom House Alliance Mssion Fiekj Total grant payable- Institutional 19,559 19,559 18,547 612 600 600 250 5,000 100 250 100 200 150 470 1(M) 1¢X) 150 250 150 250 118 118 7. Costs of Generating Voluntary Income Unrestrithd Restricted 2024 Total 2023 Total Seminar, conferences and subscripticms Travel and subsistence Hall hire, rent and rates Mission and ednge1isM Worship cost and church occasion Weffare and hospilality Printing, postage. stab'cmaries and IT consumab Music, liturgy and church group Insurance and licence Depreciation Salary Professional fees (Accountants) Telephone and Internet seNces Workers training Publicity HMRC PAYE Cost 6.008 2.254 7.816 1.002 2.166 3.653 995 2.419 752 1.212 10.Otx) 1.2(X) 778 1.203 3(X) 125 2.254 7.816 1,002 2,166 3,653 995 2.419 752 1.212 10.000 1,200 778 1,203 3(X) 125 3,4 2,334 1,311 795 777 10,IKK) 3,023 1,167 125 15
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 8. Prior Year Adjustment: Creditors During the current financial year, the charty identified a £17.094 creditor relating to the prior financial year which has been omitted from the balance sheet. The associated expense had been correctly included in the statement of Financial Position in for the year. but the liability was not recognised under Creditors: amount falling due within one year. To correct this, a prior year adjustment was made to recognise the creditor as at 31 December 2023. The adjustment has the following effect on the opening balances for 2024 Increase in Creditors (liabilities) by £17.094 and Reduction in Total Fund (opening balan by £17,094 This adjustment has no impact on the cuent year's income and expenditure. The trustees consider this correction ensures a more accurate presentation of the charity's financial position. 9. Tangible Fixed Assets Furniture sical and Fittings equipment Conwuters & Projectors Total 31- Total 31- Dec 2024 Dec 2023 COST At 1 January 2024 Additions At 31 December 2024 515 1,269 1.669 2.184 1,935 2.184 Depreciation At 1 January 2024 Depreciation charged for the year At 31 December 2024 129 417 723 546 1.212 546 618 Net Book value At 31 December 2024 10. Cash Balance 2024 2023 Cash and bank baLqnce 369.506 11. Debtors 2024 2023 Loan to church nEnl)er 4.600 16
THE REDEEMED CHRISTIAN CHURCH OF GOD BRACKNELL VICTORIOUS ASSEMBLY NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Creditors 2024 2023 Central Office {WEMI total contribution 2023 Paynnt to WEMtor 2023 Contribution {Initial and Baknce) Central Office {WEMI total contribution 2023 Initial payment To WEM for January - June Accruals for professi(al fee 18,547 (18.5471 19.559 {5.1611 1,200 1,453 1,5(K) 13. Staff cost and numbers 2024 2023 Salary 10.000 10.000 The average number of employee during the year: 2024 No. 2023 No. 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