RCCG - HOUSE OF GLORY FOR ALL NATIONS A company limited by guarantee Registered Company Number: 05464584 Registered Charity Number: 1122927 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
RCCG - HOUSE OF GLORY FOR ALL NATIONS DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CONTENTS PAGE Reference and administrative details Directors report Independent Examiner's report Statement of Financial Activities Balance sheet 10. Notes to the accounts 11- 14 Page I
RCCG - HOUSE OF GLORY FOR ALL NATIONS REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Directors Mrs Nicole Nwafor Mrs Monisola Phillips Mrs Kemi Nathan-marsh Company Secretary Mr Ezekiel Odetoyinbo Registered Company Number 05464584 Registered Charlty Number 1122927 Correspondence Address 38 Prayle Grove London NW2 IAY Parlsh Pastor Pastor Ademola Sobogun Bankers Barclays Bank PLC Leicester LE87 288 Independent Exam•ner Resource Management Consultants Limited Chartered Certified Accountant 46 Hollywood Way Erith DA8 2QE Page 2
RCCG- HOUSE OF GLORY FOR ALL NATIONS REPORT OF THE TRUSTEES FOR YEAR ENDED 30 JUNE 2024 The Trustees who are also the Directors for the purpose of company law, submit their report and financial statements of RCCG - HOUSE OF GLORY FOR ALL NATIONS (The Charity) for the year ended 30 June 2024. The Trustees confirm that the Trustees, report and financial statements of the charity comply with the statutory requirements of the Charities Act 2011 and the Companies Art 2006, the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) issued in April 2005. STRUCTURE, GOVERNANCE AND MANAGEMENT RCCG HOUSE OF GLORY FOR ALL NATIONS is incorporated as a company limited by guarantee. It was constituted with a Memorandum and Article of Association registered on 26 May 2005 and was registered with the Charity Commission as a charity in England and Wales on 22 February 2008. APPOINTMENT OR ELECTION OF DIRECTORS Trustees are appointed and or co-opted under the terms of the charity's governing document. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES The inductlon 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 responslbilities 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-HOUSE OF GLORY FOR ALL NATIONS 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 those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate 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. OBJECTIVES AND ACTIVITIES The principal object is the advancement of Christian faith in accordance with the statement of beliefs of The Redeemed Christian Church of God, and the relief of poverty. To achieve its objectives, the church adopted the following strategies: Page 3
RCCG - HOUSE OF GLORY FOR ALL NATIONS REPORT OF THE TRUSTEES FOR YEAR ENDED 30 JUNE 2024 OBJECTIVES AND ACTIVITIES Running Sunday worship services and midweek bible study; regular prayer meetings, workshops and seminars. Supporting other charities and Christian events. PUBLIC BENEFITS As in the previous year, the Church's Sunday and mid-week services as well as prayer meetings and other special programmes are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved following public benefit activities during the year under review: Holding outreaches in form of evangelism to proclaim the good news and bring awareness to the community on how to alleviate poverty and handle cost of living crisis. As part of the Church Christian Social Responsibility, and with resolute determination, of the Board of Trustees, and the persistent support of the congregation, we were able to share the joy of Christmas with residents (individuals, families and elderly ones) in the community where we operate through the distribution of quality food hampers, termed Christmas Lunch on Jesus. (CLOJ). Food hampers were also delivered to the Hounslow Food Box. We made donations to the Royal British Legion, Samaritan's Purse and others. The Charity continued to offer support to the less privileged in our Church Community by way of Annual Progressive Education Award & Recognition for 2023124. This is an initiative introduced to encourage/motivate young people gaining admission into the university or taking up apprenticeship. A one-off amount was given to each one to help with their initial school supplies. Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and imparting the lives of the young people, the elderly and vulnerable. In establishing the annual plan and activities for the year, which will fulfil the overall aims of the organisation, the Trustees considered the principles of public benefits, testing at the time in line with the ethos of the Charity's objects of advancing Christian faith in the United Kingdom and worldwide and the relief of poverty. The Trustees are aware of the Charity Commission's guidance on public benefit and have taken them into account where relevant, in their planning and decision making. GRANT MAKING POLICY The church supports visiting ministers of the gospel both within and outside the RCCG. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes. The Church supports other charities and missionary organisations that share its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grant to congregational members who are in need, after a careful and thorough assessment. Page 4
RCCG- HOUSE OF GLORY FOR ALL NATIONS REPORT OF THE TRUSTEES FOR YEAR ENDED 30 JUNE 2024 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 2000 hours are provided by volunteers during the year. If this is conservatively valued at £8.50 per hour, the volunteers effort will amount to over £17,000. Strategic training/development programmes were provided to the volunteers to enhance the quality of services they rendered to the Charity. CONTINUED IMPACT OF COVID-19 PANDEMIC AND COST OF LIVING CRISIS The adverse effect of COVID-19 pandemic unleashed upon our world in prior years continued to manifest in diverse ways during the period under review. Consequently, the church organisation continued to carry out its attivities using hybrid approach (On site as well as online via ZOOM platform). Also, in the year under review, many families in the church and community were and are still confronted with the cost-of-living crisis which arose due to various political, economic and social factors in the UK and around the world. As a result of this latest development, we have continued to support families within our church and the community, once and time again with grocery vouchers to help reduce burden of grocery shopping. We equally made donations following requests for emergency support by a few organisations, such as the Samaritan Purse. 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 Statement of faith contained in our constitution. RESERVES POLICY The trustees, policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended which equals roughly £12,000 - £24,000. They feel that this would 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 above 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 tithes and offerings by church members and through donations. Pledges are also taken for specific projects. Page 5
RCCG- HOUSE OF GLORY FOR ALL NATIONS REPORT OF THE TRUSTEES FOR YEAR ENDED 30 JUNE 2024 FINANCIAL REVIEW The Charity's financial statements for the year ended 30 June 2024 show a net decrease of funds of (£5,328), as against an increase of £2,161 in year ended 2023. PLAN FOR FUTURE DEVELOPMENT The charity continued to explore various ways of spreading the gospel of Christ in an effective and impactful manner. The charity is actively looking to grow in membership and continues to develop its current members to make life-changing impact in the community through strategic training and development programmes. During the year under review (just as in the previous year), the Charity recorded some measure of membership growth as a result of the influx of care workers with their families into the United Kingdom who identify with Christian faith and are resident in the neighbourhood of Church communlty. They have continued to be a wonderful part of our community. The Charity continued its search for a permanent place of worship that will enable it facilitate the various forms of worship expression amongst its members. The new structure will have the state-of-the-art facilities that will further enhance the training/development of children, youth and young adults. The new structure will have a multi-purpose hall that will be made available for the use of the members of the community. A team set up to identify a suitable facility within 2 miles radlus of present place of worship continued their search during the perlod. As part of its future developments, the Charity is also planning to acquire a suitable means of transportation for effective, meaningful and productive evangelism in furtherance of its principal object, and to support and facilitate movement of vulnerable and less privileged people within its congregation, in attending services. Page 6
RCCG- HOUSE OF GLORY FOR ALL NATIONS REPORT OF THE TRUSTEES FOR YEAR ENDED 30 JUNE 2024 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 Dirertors are qUired 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 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 financlal 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 accnjals basis and have been examined by an independent examiner, whose report is also appended. Approved by the trustees on 17 January 2025 and signed on their behalf by: Mrs Nicole Nwafor Trustee Page 7
RCCG - HOUSE OF GLORY FOR ALL NATIONS INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 30 JUNE 2024 TO THE TRUSTEES OF RCCG - HOUSE OF GLORY FOR ALL NATIONS I report on the accounts of the charity for the period ended 30 June 2024 which is set on pages 9 - 14 RESpEIVE REsPONSIBIL[Es OF THE TRUSTEES AND THE EXAMINER The Charity Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for the period under section 476 of the Companies Act 2006 and that an independent examination is needed. It is my responsibility to: examine the accounts under section145 of Charities Act 2011; follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention. BASIS OF MY EXAMINATION My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a 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 account, and seeking explanations from you as 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" view and the report is limited to those matters set out in the statements below. EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that: proper accounting records are not kept in accordance with the companies Act,. and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Companies Act 2006; or (2) to which, in my opinion, attention should be drawn in order to enable a proper under- standing of the accounts to be reached. Akintayo Ojo FCCA January 2025 Resource Management Consultants Ltd 46 Hollywood Way, Erith. DA8 2QE Page 8
RCCG - HOUSE OF GLORY FOR ALL NATIONS STATEMENT OF FINANCIAL ACVE5 FOR YEAR ENDED 30 JUNE 2024 Unrestrlcted Restricted Total Total Funds Funds Funds Funds Notes 2024 2024 2024 2023 Incoming resources Donations & incoming resources Total incoming resources 61,295 61.295 4,525 4,525 65,820 65,820 74,772 74.772 Resources expended Grants payable - institutional Activities in furtherance of charity's objects Support costs Management and governance cost Total resources expended 11,737 41,795 12,588 700 66,819 1.132 3,197 12,869 44,992 12,588 700 71,148 13,974 42,354 13,841 2,442 72,611 4,329 Net(outgoing)/incoming resources for the year 5,524 196 5,328 2,161 Total funds at the start of the year 129,663 5,551 135,214 133,053 Balance at the end of the year 124,139 5,747 129,886 135,214 Page 9
RCCG - HOUSE OF GLORY FOR ALL NATIONS BALANCE SHEEr AS AT 30 JUNE 2024 Totjl Total Funds Funds Notes 2024 2023 Fixed Assets Tangible fixed assets Current assets Cash at bank and in hand 130,586 135,914 Total Assets Less: Current Llabilltles: Creditors: Amount falling due within One year Net assets 130,586 135,914 700 129,886 700 135,214 Flnanced BY: Charlty funds General - restricted General unrestricted 5,747 124,139 129,886 5,551 129,663 135,214 (al For the year endlng 30 June 2024 the company was entltled to exemptlon from audit under sertion 477(21 of the Companles Act 2006 relating to the small companies regime. (bl The members have not required the company to obtain an audit of Its account In accordance wlth section 476 of the Companies Act 2006. (cl The dlrectors acknowledge thelr respon5iblllty for.. l. ensurlng the company keeps accountlng records whlch comply wlth Section 386,. and 11. Preparing accounts which give a true and fair view of the state of affairs of the company at the end of the financial year, and of Its profit and 1055 for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requlrements of the Companies Act relating to account5, 50 as far Is applicable to the company. (d) That the accounts have been prepared Sn accordance wlth the prov151ons applicable to companles subject to the small companies regime. Approved by the Trustees on 27January 2025 and signed on their behalf by.. Mrs Nicole Nwafor Trustee Page 10
RCCG - HOUSE OF GLORY FOR ALL NATIONS NOTES TO THE ACCOUNTS FOR YEAR ENDED 30 JUNE 2024 I. ACCOUNTING POLICIES {l.l) Basis of preparation of financlal statements These accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) .The financial statements have been prepared with Statement of Recommended Practice (SORP), Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards. (1.2) Company Status The charity is a company limited by guarantee. The members of the company are the board named on page 2. In the event of the charity being wound up, the liability in respert of the guarantee is limited to £1.00 per member of the charity. (1.3) Income All income is recognised once the charity has entitlement to the Income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. (1.3) Expendlture Expenditure is recognised once there is a legal constructlve obligation to transfer economic benefit to a third party, It is probable that a transfer of economic benefits will be required in settlement and the amount of obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of total of direct costs and shared costs, including support costs involved in undertaking each activity. {1.4) Fund Accounting General funds are unrestricted funds which are available for use at the direction of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by the donors which have been raised by the charity for a particular purpose. The cost of raising such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements where applicable. (1.5) Cash flow The financial statements do not include a cash flow because the church, as a small reporting entity is exempted from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective 2002) (1.6) Tangible fixed assets depreciation All assets costing more than £500 are capitalised. Tangible assets are carried net of depreciation and any provision for impairment. Depreciation is calculated as follows: Equipment 25 % Straight line Page 11
RCCG - HOUSE OF GLORY FOR ALL NATIONS NOTES TO THE ACCOUNTS FOR YEAR ENDED 30 JUNE 2024 Unrestrlcted Restrlrted Total Total Funds Funds Fund5 Funds 2024 2024 2024 2023 2. DONATIONS. LEGACIES AND SIMIL4R INCOMING RESOURCES Tithes & Offering Thanksgiving Donations & women's conference Gift aid for previous years Study manuals & CLOJ Receipt Interest received 50,184 5,332 175 50,359 5,332 4,350 4,000 47,236 6,430 2,831 17,285 445 545 4,350 4,000 1,779 61,295 1,779 65,820 4,525 74,772 Unrestrfrted Restrlcted Funds Funds Total Total Funds Funds 2024 2024 2024 2023 3. Grants payable - institutional Charitable giving -UK Charitable giving -overseas Total 11,737 1,132 12,869 13,974 11,737 1,132 12,869 13,974 2024 2024 2024 2023 List of institutional grants payable RCCG WEM RCCG Central Office Festival Of Life Christ Redeemer Bible College RCCG Camp Gmund Other British Charities Total grant payable - institutional World Evangelism COF Support Mission Support Mission Support mission Support Charity Support 9,587 600 600 300 9,587 600 600 300 1,132 650 12,869 11,724 600 600 300 1,132 650 750 11,737 1,132 13,974 Unr•strlcted Restrlcted Funds Totsl Total Funds Funds Funds 4. COST OF ACTIVITIES IN FURTHERANCE OF CHARITh'S OBJEcrs Ministerial Expenses Home Mission & Other Church Welfa. Gifts & Awards Mission Training, books & manual Travel & subsistence Community engagement & Women's event Depreciation 2024 2024 2024 2023 23,900 4,731 5,270 1,205 23,900 4,731 5,270 1,205 23,900 5,961 3,120 1,655 1,482 5,848 389 42,354 6,689 3,197 9,886 41,795 3,197 44,992 Page 12
RCCG- HOUSE OF GLORY FOR ALL NATIONS NOTES TO THE ACCOUNTS FOR YEAR ENDED 30 JUNE 2024 Unrestrirted Restrirted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 5. SUPPORT COST stationery & Consumables Rent, Light & Heating Other Administrative Expenses Licence & Subscription Equipment & Internet Expenses Technical Consultants & Other 18 3,200 103 275 1,192 7,800 12,588 18 3,200 103 275 1,192 7,800 12,588 806 4,200 120 915 7,800 13,841 6. MANAGEMENT AND GOVERNANCE COSTS Unre•trl¢t*d Restrlrted Total Tot•1 Funds Funds Funds Funds 2024 2024 2024 2023 Professional Fees Accountancy fees 1,742 700 2,442 700 700 700 700 7. TANGIBLE FIXED ASSETS Musical equipment Year ended 30-Jun 2024 Year ended 30-Jun 2023 Cost At l July 2023 Additions At 30 June 2024 Depreciation At l July 2023 Charge for the year At 30 June 2024 1,553 1,553 1,553 1,553 1,553 1,553 1,553 1,553 Net book value At 30 June 2024 At 30 June 2023 Page 13
RCCG- HOUSE OF GLORY FOR ALL NATIONS NOTES TO THE ACCOUNTS FOR YEAR ENDED 30 JUNE 2024 8. CASH BALANCES Year ended 30-Jun 2024 Year ended 30-Jun 2023 Total balances held in all current accounts at period end 130,586 130,586 135,914 135,914 9. CREDoRs Year ended 30-Jun 2024 Year ended 30-Jun 2023 Accrued accountancy fees 700 700 700 700 10. RELATED PARTY TRANSAcfioNS During the year, the charity paid institutional grants to other RCCG organisations such as the World Evangelism Mission, RCCG Central Office, Christ Redeemer Bible College and Festival of Life as stated in note 3. 11. NET INCOMING RESOURCES/(RESOURCES EXPENDED) This is stated after charging Year ended 30-Jun 2024 Year ended 30-Jun 2023 Depreciation of tangible assets owned by the charity Accountant's fees 389 700 700 12. TRUSTEES REMUNERATION Year ended 30-Jun 2024 NIL NIL Year ended 30-Jun 2023 NIL NIL During the year, no Director ceiVed any remuneration During the year, no Director received any benefits in kind 13. TAXATION RCCG House of Glory for All Nations is a registered charity and all of its activities are tax exempt under rules of taxation granted to charities. Page 14