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2020-12-31-accounts

S

S Events &

Challenges

S Successes

S Focus & Areas to improve in 2021/22 S Appreciation

Events

We give glory to God that despite the Covid-19 pandemic, God Almighty showed forth His faithfulness in our midst. We were still able to cover certain events to te glory of God. Let somebody shout alleluia!

Ladies weekend away retreat in July was wonderful. A refreshing time, we became children and enjoyed every moment. Thank you to everyone for your contribution to the success of this great event.

Family Fun day also in August at Avery Hill Park with a difference: Great men played with the younger men. Our children had enough time to play around and we the ladies did loose some calories!

we Colourful Day in August – celebrated our diversities in style this year. Thank you all.

We had more prayer conferences than we have ever had in this last year and we can see God working powerfully in our lives to the glory of God. Thank You LORD.

To God be the glory – we had testimonies of births (several wombs opened this year more than ever), children dedication, new properties, new jobs, business opportunities, school admissions and marriages.

GBT 16[th] year celebration was virtual last year - 2020

Events

Great Men organised a marriage seminar in 2020

Great Ladies : Beauty for Ashes and Issues of Life were successful

Community Outreach: GBT gave out food stuff to people in the community including our a few in GBT during the covid-19 pandemic. We visited people who were unwell, donated money and food stuff to our local food bank, etc. Award:

GBT won THE MAYOR’S AWARD 2020 to recognize the amazing contribution of GBT in response to Covid-19 in Lewisham Borough. As a lasting legacy, GBT’s name has been entered into the Mayor’sAwards Book kept at the Civic Suite in Catford. We were given a certificate and a slecially commissioned Lewisham Badge

Events

Outreach:

GBT organised and delivered a 12 week youth workshops during the Covid-19 pandemic to engage young people. The feedback was unbelievable. Thank you to all parents, volunteers and speakers.

GBT also organised and delivered a 4 week parenting workshop in February 2021 (Parenting and cultural differences, parenting and boundaries, effects of domestic violence on young people and parenting – treating yourself well)

Mission:

GBT Aderonmu remains a strong mission field reaching nearby villages with the help of the Pastor, Pastor Opeyemi Adebanjo, his wife and brethren. 2 self contained has been completed for teachers. Church building now almost completed. We still supply water and free education to all our students. Two of our children in higher institution and one is an apprentice at a furniture firm in Iseyin. God bless all our donors.

The Successes

Souls were being discipled for Jesus Christ despite the challenges at a time like this.

Ongoing monthly donation to Barnabas Ministries, a local charity that cook and provide hot meals to homeless people in Deptford and support motherless babies homes in Africa

Regular supply of food stuff and financial support to our local food banks and other needy people in our community

More than twelve of our children are being mentored by our members who are professionals and willing to offer their time, expertise and grace to support our next generation. God bless all our mentors in GBT. Thank you so much.

Workshop on property investment and emotional well being.

Safe delivery of births to the glory of God Almighty and answers to our prayers for those waiting to have children again this year. Praise God

Glorious touch of God through His ministers we invited and all workers. A NEW STEP OF FAITH:

GBT now partners (including financial support) monthly with Abounding Grace Foundation, a prison ministry (Prisonervoice) headed by Evangelist Christian Chukwuka to empower prisoners.

Over thirty members sponsoring a child via Compassion (£25 per month per child). GBT is sponsoring two children.

Three additional children are being sponsored in Nigeria by three of our members via GBT platform. This started during the Covid-19 pandemic when their parent lost their jobs. God bless you our donors and your generations.

Stays in the UK granted to members again in this year – Thank You Lord.

Teaching of our children on the zoom throughout the COvid-19 pandemic. Children form people who are not members joined as well. Thank you to our great teachers.

Regular ongoing bible study for our junior youth. God bless you all parents and teachers. We are grateful

Children teachers went on an outing this August.

GBT set up three people abroad to start a small business to relief them of poverty.

The Reach Out Project set up during Covid-19 pandemic was a success. Thanks to all our young people who attended, volunteers and parents.

S Daily prayers for GBT, UK, nations and body of Christ since 15[th] August 2018 till date. Thank you GBT covenant partners.

S Finance: Despite all challenges, we were able to manage our finance well.

Areas to Improve in 2021/22

S Discipleship and mentoring of our young people: An area that still needs our attention.

S Outreach: we need more hands in the mission team.

S Giving: God to send people who are willing to donate for us to be able to fulfill all vision

Appreciation

S Release of your car to convey members including the Pastor

Thanks to all members for your love, support, and passion.

S Consistent support with weekly moving of equipment and instrument to and fro storage especially during the Covid-19 pandemic. Thank you all. God bless you

S Thanks to the families who provided the following:

S Laptop and other essentials for the Pastor

S Monthly donation towards the salary of teacher at GBT Mission Field, Aderonmu

God Almighty who sees all you have done and doing will reward you in Jesus Name.

S THANK YOU ALL!

Vision for 2021/22 2021/22
S Mission to Kogi State, Nigeria and Benin S Strengthen our relationships with local
Republic faith groups
S Sound teaching to help members mature S Strengthen our partnership with
Abounding Grace Foundation
S Recruit more mentors for our junior
youth, new members and new converts		 S Continue with GBT Command Your Day
Altar and Pastors Prayer Partners daily
S Organise parenting workshop – February intercessory group
2022
S Strengthen other Christian organisations
S Continue with our ladies quarterly
fellowship “ISSUES OF LIFE”		 (financial support) to ensure they achieve
their God-given goals too.
S Remain a relevant and significance S Intensify our prayer lifestyle as a Church
resource in our community, Prison
Fellowship, SACRE, Lewisham
Churches Care, etc.		 S Raise funds for 2022 youth camp and
our property

THE REDEEMED CHRISTIAN CHURCH OF GOD GREAT BEAUTY TABERNACLE (RCCG-GBT) LONDON

Charity Commission Number 1123506 Company Number 10022195 HMRC Charity Number XT22757

RCCG GBT London

Annual Reports and Accounts 01 January 2020 to 31 December 2020

1 RCCG-GBT

Contents

Page Charity information .............................................................................................................................................................. 3 Board of Trustees’ report.................................................................................................................................................... 4 Independent Examiner’s report .......................................................................................................................................... 5 Statement of Financial Activities ......................................................................................................................................... 7 Balance Sheet ..................................................................................................................................................................... 8 Notes to the financial statements ........................................................................................................................................ 9

2 RCCG-GBT

Charity information

Trustees

Elizabeth Oluremi Fajuyigbe Hannah Iwolode

Ayodeji Emmanuel Johnson

Pastor-in-charge

Pastor Yessica Omolayo Segun

General Overseer

Pastor E. A. Adeboye

Enquiries

The Redeemed Christian Church of God – Great Beauty Tabernacle (“RCCG – GBT”) London is a Charity Trust registered by the Charity Commission for England and Wales with registered number 1123506. It is also a limited by guarantee company with registered number 10022195 in England and Wales. The Charity is domiciled in England and Wales.

Registered office

41 Birkhall Road Catford London SE6 1TF

Accountants /Independent Examiner

TomFag LLP 13 Marius Grove Fairfields Milton Keynes MK11 4DH

Solicitors

Wellers Solicitors Part of the Wellers Law Group Tweedy Road Tenison House Bromley Kent BR1 3NF

Bankers

Lloyds TSB 25 Camberwell Green London SE5 7AB

3 RCCG-GBT

Board of Trustees’ report

Report of the Board of Trustees of the RCCG-GBT Church London

Objectives

The objectives of The Redeemed Christian Church of God Great Beauty Tabernacle (RCCG-GBT) Church London are the advancement of the Christian faith worldwide in accordance with the doctrines set out in the Statement of Faith schedule of the Charity Trust Deed and the relief of poverty. RCCG-GBT Church is a parish member of the Redeemed Christian Church of God worldwide. The Charity also engages in youth and community development activities in line with the England and Wales Charities Act 2006.

The Board of Trustees is committed to enabling people as possible to worship at the RCCG-GBT Church and to become part of the Church’s community in London. The Board of Trustees maintains an overview of worship through the Church and makes suggestions on how the services can involve many groups that live within the community. RCCG-GBT services and worship put Christian faith into practice through prayer, scripture, music, fasting, evangelism and ministration.

When planning the Church’s activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefits and the specific guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our Church community through:

Everyone is welcomed to worship with us during our weekly Thursday and Sunday services. At present, there are average of 300 worshipers with average weekly Sunday Church attendance (physical and virtual) of over 250 people.

Activities

The Church activities during the period include:

4 RCCG-GBT

Board of Trustees’ report

Financial Review

These are the annual report and statements of account of the Church showing total incoming resources of £97,335 (2019: £128,975) and total expended resources of £81,888 (2019: £131,453) with net incoming (outgoing) resources of £15,447 (2019: £(2,478)) which is carried forward to the next financial year.

Of the total incoming resources, £65,543 (2019: £76,990) is made up of tithes and offerings donated voluntarily by Charity members and other members of the public. These members are mostly UK taxpayers and they have indicated that the Charity can claim Gift Aid on their donations. A tithe is the 10% of the earnings of members which is voluntarily donated to the Charity. An offering is any other amount donated to the Charity voluntarily for the running of the affairs of the Charity.

There was a total reclaim of Gift Aid amount of £17,482 (2019: £21,203) from HM Revenue & Customs (HMRC) during the period. The Charity is funded entirely by the funds of the Trustees and the members as well as the special donations by members of the public. The net asset of the Charity as at end of the year was £84,447 (2019: £69,000) .

Reserves Policy

It is the Church’s policy to maintain a balance on unrestricted funds (if possible), which equates to at least three months unrestricted payments, equivalent to £10,000 , to cover emergency situations that may arise from time to time. The balance in the Church savings bank account matches this target.

It is also in the Church’s policy to invest our funds balances in appropriate investment opportunities as determined and deemed necessary by the Board of Trustees.

Structure, Governance and Management

The Church is governed by the Board of Trustees with members who are reputable people in the society and are also professionals in their respective fields. The names of the current Board of Trustees are shown on page 3. The Board of Trustees is responsible for the running of the affairs and the management of the funds of the Church. They meet regularly to discuss the affairs of the Church as well as the funds, donations and reports received from members and other key stakeholders of the Church.

The Board of Trustees met at least two times during the year with an average level of attendance of 80%. Given its wide responsibilities, the Board of Trustees has several departments each dealing with an aspect of the Church’s life. These departments which include Pastorate, Choir, Ushers, ICT, Workers, Children, Transport and Welfare, are all responsible to the Board of Trustees and report back to it regularly.

Statement of Trustees’ responsibilities

Charities law requires the Board of Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Charity and of the income and expenditure of the Charity for that period.

In preparing those financial statements, the Board of Trustees is required to:

The Board of Trustees is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Acts 1993 and 2006. The Board is also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Audit Exemption

The RCCG-GBT Church is qualified for statutory audit exemption as its income for the year is below £500,000 and balance sheet total asset is less than £2.8m. Therefore, these financial statements are unaudited.

5 RCCG-GBT

Board of Trustees’ report

Policy and practice on payment of suppliers

The Charity follows “The Better Payment Practice Code” published by the Department of Trade and Industry, regarding the making of payments to suppliers. The Charity’s policy is to agree terms of payment with suppliers, and these normally provide for settlement within 30 days after the date of the invoice, except where other arrangements have been negotiated. It is the policy of the Charity to abide by the agreed terms of payment, provided the supplier performs according to the terms of the contract. As the Charity owed no amounts to trade suppliers as at 31 December 2020, the number of days required to be shown in this report, to comply with the provisions of the Charities Act 2006, is nil.

For and on behalf of the RCCG-GBT,

___ ___ Elizabeth Fajuyigbe Date Trustee

6 RCCG-GBT

Independent Examiner’s report

Report of The Independent Examiner to The Board of Trustees of RCCG-GBT Church

This report on the financial statements of the Board of Trustee for the year ended 31 December 2020, which are set out on the following accounts, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (‘the Regulations’) and s.43 of the Charities Act 2006 (‘The Act’).

Respective responsibilities of the Board of Trustees and the Independent Examiner

As members of the Board of Trustees you are responsible for the preparation of the financial statements; you consider that the audit requirement of Regulation 3(3) and section 43(2) of the Act do not apply. It is our responsibility to issue this report on those financial statements in accordance with the terms of Regulation 25.

Basis of Independent Examiner’s report

Our examination was carried out in accordance with the General Directions given by the Charity Commission under section 43(7)(b) of the Act and to be found in the Church guidance, 2006 edition. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. The examination of records and vouchers was on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. We planned and performed the Examination to obtain all the information and explanations necessary to provide sufficient evidence to give reasonable assurance that the financial statements are free of material misstatements, whether caused by fraud, or other irregularity or error.

The procedures undertaken do not provide all the evidence that would be required in an audit and the report is limited to those matters set out in the statement below. I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In our opinion the financial statements give a true and fair view of the charity's state of affairs as at the 31[st] December 2020 and of its incoming resources and application of resources in the year then ended. In connection with our examination, no matter has come to our attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 41 of the 1993 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met; or

(2) to which, in our opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.

TomFag LLP Chartered Certified Accountants & Registered Auditors

7 RCCG-GBT

Statement of Financial Activities (SoFA)

Income and Expenditure Statements for the period ended 31 December 2020

Unrestricted Unrestricted
funds funds
Categories by activity 2020 2019
£ £
Incoming resources (Note 3)
Incoming resources from
generated funds
Voluntary income 97,335 128,975
Total incoming resources 97,335 128,975
Resources expended (Notes 4-6)
Costs of Generating
Funds
Costs of generating
voluntary income 81,888 131,453
Total resources expended 81,888 131,453
Net incoming/(outgoing) resources before
transfers 15,447 (2,478)
Net incoming/(outgoing) resources before other
recognised gains/(losses) 15,447 (2,478)
Net movement in funds 15,447 (2,478)
Total funds brought forward 58,900 61,378
Total funds carried forward 74,347 58,900

8 RCCG-GBT

Balance Sheet 31 December 2020

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fixed assets F01 F05
Tangible assets (Note 7) - -
Total fixed assets - -
Current assets
Debtors (Note 8) 31,097 37,085
Cash at bank and in hand 53,350 31,915
Total current assets 84,447 69,000
Creditors: amounts falling due within one year
(Note 9) - -
Net current assets/(liabilities) 84,447 69,000
Net current assets/(liabilities) 84,447 69,000
Total assets less current liabilities 84,447 69,000
Net assets 84,447 69,000
Funds of the Charity
Unrestricted funds 10,100 10,100
74,347 58,900
Total funds 84,447 69,000

In accordance with the England and Wales Charities Act 2006, the RCCG-GBT is qualified for statutory audit exemption as its income for the year is below £500,000 and balance sheet total asset is less than £2.8m. Therefore, these financial statements are unaudited.

The Trustees acknowledge their responsibility for complying with the requirements of the Charities Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to Charities subject to the small Charities regime.

Signed by a member of the Board of Trustees on behalf of all the Trustees:

___ ___ Elizabeth Fajuyigbe Date Trustee

9 RCCG-GBT

Notes to the financial statements

31 December 2020

1. Basis of preparation

1.1

Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

✓ Accounting Standards;

or Financial Reporting Standards (FRS102);

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years.

10 RCCG-GBT

Notes to the financial statements 31 December 2020

2 Accounting policies

INCOMING RESOURCES

INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources • the charity becomes entitled to the resources;
• the trustees are virtually certain they will receive the resources; and
• the monetary value can be measured with sufficient reliability.
Incoming resources with
related expenditure		 Where incoming resources have related expenditure (as with fundraising or
contract income) the incoming resources and related expenditure are reported
gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has
unconditional entitlement to the resources.
Tax reclaims on donations and Incoming resources from tax reclaims are included in the SoFA at the same time as
gifts the gift to which they relate.
Contractual income and This is only included in the SoFA once the related goods or services have been
performance related grants delivered.
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity
or the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when
sold or distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources
when receivable.
Donated services and facilities These are only included in incoming resources (with an equivalent amount in
resources expended) where the benefit to the charity is reasonably quantifiable,
measurable and material_._The value placed on these resources is the estimated
value to the charity of the service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is
described in the trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss
resulting from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation
committing the charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of
trustee meetings and cost of any legal advice to trustees on governance or
constitutional matters.
Grants with performance Where the charity gives a grant with conditions for its payment being a specific
conditions level of service or output to be provided, such grants are only recognised in the
SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without These are only recognised in the accounts when a commitment has been made
performance conditions and there are no conditions to be met relating to the grant which remain in the
control of the charity.
Support Costs Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property
costs by floor areas, or per capita, staff costs by the time spent and other costs by
their usage.

ASSETS

11 RCCG-GBT

Notes to the financial statements

31 December 2020

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or a reasonable value on receipt.

Investments

Stocks and work in progress

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

These are valued at the lower of cost or market value.

The preparation of financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although those estimates are based on management’s best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates.

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

Impairment on assets

The Charity regularly reviews its debt portfolio and receivables to assess for impairment. In determining whether impairment has occurred, the Charity considers whether there is any observable data indicating that there has been a measurable decrease in the estimated future cash flows and their timings. Such observable data includes whether there has been an adverse change in the payment status of debtors or changes in economic conditions that correlate with defaults on assets in the Charity.

3 Analysis of incoming resources

2020 2019
Analysis £ £
Tithe and offerings 65,543 76,990
HMRC Gift Aid Repayment 17,482
 21,203
Other income 14,310 30,782
Total 97,335 128,975
ended
2020 2019
Analysis £ £
Rent 3,909 24,580
Hotel accommodation 206 473
Entertainment and refreshments - 1,513
Honorarium for pastors and guests 4,109 4,150
Admin and stationeries 13,054 53,835
Insurance 126 2,521
Transportation 371 2,184
Welfare 2,799 9,810
Charity donations 24,892 2,000
Utility and Telephone 532 449
Contribution to WEM and central 12,000 13,100
Bank and other service charges 365 1,028
Training and Workshop 100 -
Accountant and Solicitors 1,657 2,553
Allowance to pastor 13,000 12,000
Other miscellaneous expenses 4,768 752
Depreciation - 505
Total 81,888 131,453

Voluntary income

4 Analysis of resources expended

Costs of generating voluntary income

12 RCCG-GBT

Notes to the financial statements

31 December 2020

5 Details of certain items of expenditure

2020 2019
£ £
Independent examiner’s or auditors' fees for reporting on the accounts 433 433
Other fees (for example: advice, consultancy, accountancy services) paid to the 1,224 2,120
independent examiner or auditor
Total 1,657 2,553
6 Paid employees
2020 2019
£ £
Gross wages, salaries and benefits in kind with average of 2 contract employees 13,000 12,000
Total staff costs 13,000 12,000
7 Tangible fixed assets
Tangible fixed assets
Fixtures, Total
fittings, and
equipment
7.1 Cost or valuation £ £
Balance brought forward 38,371 38,371
Additions - -
Balance carried forward (See Note 10) 38,371 38,371
**Basis SL
** Rate 0.25
7.2 Accumulated depreciation and impairment provisions
Balance brought forward 38,371 38,371
Depreciation charge for year - -
Balance carried forward 38,371 38,371
7.3 Net book value
Brought forward - -
Carried forward - -
Debtors
Analysis of debtors Amounts falling due
within one year
2020 2019
£ £
Other debtors 31,097 37,085
Total 31,097 37,085

8 Debtors

13 RCCG-GBT

Notes to the financial statements

31 December 2020

9 Creditors

Amounts falling due Amounts falling due
within one year
2020 2019
£ £
Other creditors - -
Total - -
0 Fixed Assets List
2020 2019
£ £
Church office equipment 7,653 7,653
Furniture and fittings 6,945 6,945
Drums and other musical instruments 21,318 21,318
Computers and software 2,455 2,455
Total 38,371 38,371

10 Fixed Assets List

14 RCCG-GBT

THE REDEEMED CHRISTIAN CHURCH OF GOD GREAT BEAUTY TABERNACLE (RCCG-GBT) LONDON

Charity Commission Number 1123506 Company Number 10022195 HMRC Charity Number XT22757

RCCG GBT London

Annual Reports and Accounts 01 January 2020 to 31 December 2020

1 RCCG-GBT

Contents

Page Charity information .............................................................................................................................................................. 3 Board of Trustees’ report.................................................................................................................................................... 4 Independent Examiner’s report .......................................................................................................................................... 5 Statement of Financial Activities ......................................................................................................................................... 7 Balance Sheet ..................................................................................................................................................................... 8 Notes to the financial statements ........................................................................................................................................ 9

2 RCCG-GBT

Charity information

Trustees

Elizabeth Oluremi Fajuyigbe Hannah Iwolode

Ayodeji Emmanuel Johnson

Pastor-in-charge

Pastor Yessica Omolayo Segun

General Overseer

Pastor E. A. Adeboye

Enquiries

The Redeemed Christian Church of God – Great Beauty Tabernacle (“RCCG – GBT”) London is a Charity Trust registered by the Charity Commission for England and Wales with registered number 1123506. It is also a limited by guarantee company with registered number 10022195 in England and Wales. The Charity is domiciled in England and Wales.

Registered office

41 Birkhall Road Catford London SE6 1TF

Accountants /Independent Examiner

TomFag LLP 13 Marius Grove Fairfields Milton Keynes MK11 4DH

Solicitors

Wellers Solicitors Part of the Wellers Law Group Tweedy Road Tenison House Bromley Kent BR1 3NF

Bankers

Lloyds TSB 25 Camberwell Green London SE5 7AB

3 RCCG-GBT

Board of Trustees’ report

Report of the Board of Trustees of the RCCG-GBT Church London

Objectives

The objectives of The Redeemed Christian Church of God Great Beauty Tabernacle (RCCG-GBT) Church London are the advancement of the Christian faith worldwide in accordance with the doctrines set out in the Statement of Faith schedule of the Charity Trust Deed and the relief of poverty. RCCG-GBT Church is a parish member of the Redeemed Christian Church of God worldwide. The Charity also engages in youth and community development activities in line with the England and Wales Charities Act 2006.

The Board of Trustees is committed to enabling people as possible to worship at the RCCG-GBT Church and to become part of the Church’s community in London. The Board of Trustees maintains an overview of worship through the Church and makes suggestions on how the services can involve many groups that live within the community. RCCG-GBT services and worship put Christian faith into practice through prayer, scripture, music, fasting, evangelism and ministration.

When planning the Church’s activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefits and the specific guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our Church community through:

Everyone is welcomed to worship with us during our weekly Thursday and Sunday services. At present, there are average of 300 worshipers with average weekly Sunday Church attendance (physical and virtual) of over 250 people.

Activities

The Church activities during the period include:

4 RCCG-GBT

Board of Trustees’ report

Financial Review

These are the annual report and statements of account of the Church showing total incoming resources of £97,335 (2019: £128,975) and total expended resources of £81,888 (2019: £131,453) with net incoming (outgoing) resources of £15,447 (2019: £(2,478)) which is carried forward to the next financial year.

Of the total incoming resources, £65,543 (2019: £76,990) is made up of tithes and offerings donated voluntarily by Charity members and other members of the public. These members are mostly UK taxpayers and they have indicated that the Charity can claim Gift Aid on their donations. A tithe is the 10% of the earnings of members which is voluntarily donated to the Charity. An offering is any other amount donated to the Charity voluntarily for the running of the affairs of the Charity.

There was a total reclaim of Gift Aid amount of £17,482 (2019: £21,203) from HM Revenue & Customs (HMRC) during the period. The Charity is funded entirely by the funds of the Trustees and the members as well as the special donations by members of the public. The net asset of the Charity as at end of the year was £84,447 (2019: £69,000) .

Reserves Policy

It is the Church’s policy to maintain a balance on unrestricted funds (if possible), which equates to at least three months unrestricted payments, equivalent to £10,000 , to cover emergency situations that may arise from time to time. The balance in the Church savings bank account matches this target.

It is also in the Church’s policy to invest our funds balances in appropriate investment opportunities as determined and deemed necessary by the Board of Trustees.

Structure, Governance and Management

The Church is governed by the Board of Trustees with members who are reputable people in the society and are also professionals in their respective fields. The names of the current Board of Trustees are shown on page 3. The Board of Trustees is responsible for the running of the affairs and the management of the funds of the Church. They meet regularly to discuss the affairs of the Church as well as the funds, donations and reports received from members and other key stakeholders of the Church.

The Board of Trustees met at least two times during the year with an average level of attendance of 80%. Given its wide responsibilities, the Board of Trustees has several departments each dealing with an aspect of the Church’s life. These departments which include Pastorate, Choir, Ushers, ICT, Workers, Children, Transport and Welfare, are all responsible to the Board of Trustees and report back to it regularly.

Statement of Trustees’ responsibilities

Charities law requires the Board of Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Charity and of the income and expenditure of the Charity for that period.

In preparing those financial statements, the Board of Trustees is required to:

The Board of Trustees is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Acts 1993 and 2006. The Board is also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Audit Exemption

The RCCG-GBT Church is qualified for statutory audit exemption as its income for the year is below £500,000 and balance sheet total asset is less than £2.8m. Therefore, these financial statements are unaudited.

5 RCCG-GBT

Board of Trustees’ report

Policy and practice on payment of suppliers

The Charity follows “The Better Payment Practice Code” published by the Department of Trade and Industry, regarding the making of payments to suppliers. The Charity’s policy is to agree terms of payment with suppliers, and these normally provide for settlement within 30 days after the date of the invoice, except where other arrangements have been negotiated. It is the policy of the Charity to abide by the agreed terms of payment, provided the supplier performs according to the terms of the contract. As the Charity owed no amounts to trade suppliers as at 31 December 2020, the number of days required to be shown in this report, to comply with the provisions of the Charities Act 2006, is nil.

For and on behalf of the RCCG-GBT,

___ ___ Elizabeth Fajuyigbe Date Trustee

6 RCCG-GBT

Independent Examiner’s report

Report of The Independent Examiner to The Board of Trustees of RCCG-GBT Church

This report on the financial statements of the Board of Trustee for the year ended 31 December 2020, which are set out on the following accounts, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (‘the Regulations’) and s.43 of the Charities Act 2006 (‘The Act’).

Respective responsibilities of the Board of Trustees and the Independent Examiner

As members of the Board of Trustees you are responsible for the preparation of the financial statements; you consider that the audit requirement of Regulation 3(3) and section 43(2) of the Act do not apply. It is our responsibility to issue this report on those financial statements in accordance with the terms of Regulation 25.

Basis of Independent Examiner’s report

Our examination was carried out in accordance with the General Directions given by the Charity Commission under section 43(7)(b) of the Act and to be found in the Church guidance, 2006 edition. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. The examination of records and vouchers was on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. We planned and performed the Examination to obtain all the information and explanations necessary to provide sufficient evidence to give reasonable assurance that the financial statements are free of material misstatements, whether caused by fraud, or other irregularity or error.

The procedures undertaken do not provide all the evidence that would be required in an audit and the report is limited to those matters set out in the statement below. I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In our opinion the financial statements give a true and fair view of the charity's state of affairs as at the 31[st] December 2020 and of its incoming resources and application of resources in the year then ended. In connection with our examination, no matter has come to our attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 41 of the 1993 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met; or

(2) to which, in our opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.

TomFag LLP Chartered Certified Accountants & Registered Auditors

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Statement of Financial Activities (SoFA)

Income and Expenditure Statements for the period ended 31 December 2020

Unrestricted Unrestricted
funds funds
Categories by activity 2020 2019
£ £
Incoming resources (Note 3)
Incoming resources from
generated funds
Voluntary income 97,335 128,975
Total incoming resources 97,335 128,975
Resources expended (Notes 4-6)
Costs of Generating
Funds
Costs of generating
voluntary income 81,888 131,453
Total resources expended 81,888 131,453
Net incoming/(outgoing) resources before
transfers 15,447 (2,478)
Net incoming/(outgoing) resources before other
recognised gains/(losses) 15,447 (2,478)
Net movement in funds 15,447 (2,478)
Total funds brought forward 58,900 61,378
Total funds carried forward 74,347 58,900

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Balance Sheet 31 December 2020

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fixed assets F01 F05
Tangible assets (Note 7) - -
Total fixed assets - -
Current assets
Debtors (Note 8) 31,097 37,085
Cash at bank and in hand 53,350 31,915
Total current assets 84,447 69,000
Creditors: amounts falling due within one year
(Note 9) - -
Net current assets/(liabilities) 84,447 69,000
Net current assets/(liabilities) 84,447 69,000
Total assets less current liabilities 84,447 69,000
Net assets 84,447 69,000
Funds of the Charity
Unrestricted funds 10,100 10,100
74,347 58,900
Total funds 84,447 69,000

In accordance with the England and Wales Charities Act 2006, the RCCG-GBT is qualified for statutory audit exemption as its income for the year is below £500,000 and balance sheet total asset is less than £2.8m. Therefore, these financial statements are unaudited.

The Trustees acknowledge their responsibility for complying with the requirements of the Charities Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to Charities subject to the small Charities regime.

Signed by a member of the Board of Trustees on behalf of all the Trustees:

___ ___ Elizabeth Fajuyigbe Date Trustee

9 RCCG-GBT

Notes to the financial statements

31 December 2020

1. Basis of preparation

1.1

Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

✓ Accounting Standards;

or Financial Reporting Standards (FRS102);

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years.

10 RCCG-GBT

Notes to the financial statements 31 December 2020

2 Accounting policies

INCOMING RESOURCES

INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources • the charity becomes entitled to the resources;
• the trustees are virtually certain they will receive the resources; and
• the monetary value can be measured with sufficient reliability.
Incoming resources with
related expenditure		 Where incoming resources have related expenditure (as with fundraising or
contract income) the incoming resources and related expenditure are reported
gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has
unconditional entitlement to the resources.
Tax reclaims on donations and Incoming resources from tax reclaims are included in the SoFA at the same time as
gifts the gift to which they relate.
Contractual income and This is only included in the SoFA once the related goods or services have been
performance related grants delivered.
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity
or the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when
sold or distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources
when receivable.
Donated services and facilities These are only included in incoming resources (with an equivalent amount in
resources expended) where the benefit to the charity is reasonably quantifiable,
measurable and material_._The value placed on these resources is the estimated
value to the charity of the service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is
described in the trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss
resulting from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation
committing the charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of
trustee meetings and cost of any legal advice to trustees on governance or
constitutional matters.
Grants with performance Where the charity gives a grant with conditions for its payment being a specific
conditions level of service or output to be provided, such grants are only recognised in the
SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without These are only recognised in the accounts when a commitment has been made
performance conditions and there are no conditions to be met relating to the grant which remain in the
control of the charity.
Support Costs Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property
costs by floor areas, or per capita, staff costs by the time spent and other costs by
their usage.

ASSETS

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Notes to the financial statements

31 December 2020

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or a reasonable value on receipt.

Investments

Stocks and work in progress

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

These are valued at the lower of cost or market value.

The preparation of financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although those estimates are based on management’s best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates.

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

Impairment on assets

The Charity regularly reviews its debt portfolio and receivables to assess for impairment. In determining whether impairment has occurred, the Charity considers whether there is any observable data indicating that there has been a measurable decrease in the estimated future cash flows and their timings. Such observable data includes whether there has been an adverse change in the payment status of debtors or changes in economic conditions that correlate with defaults on assets in the Charity.

3 Analysis of incoming resources

2020 2019
Analysis £ £
Tithe and offerings 65,543 76,990
HMRC Gift Aid Repayment 17,482
 21,203
Other income 14,310 30,782
Total 97,335 128,975
ended
2020 2019
Analysis £ £
Rent 3,909 24,580
Hotel accommodation 206 473
Entertainment and refreshments - 1,513
Honorarium for pastors and guests 4,109 4,150
Admin and stationeries 13,054 53,835
Insurance 126 2,521
Transportation 371 2,184
Welfare 2,799 9,810
Charity donations 24,892 2,000
Utility and Telephone 532 449
Contribution to WEM and central 12,000 13,100
Bank and other service charges 365 1,028
Training and Workshop 100 -
Accountant and Solicitors 1,657 2,553
Allowance to pastor 13,000 12,000
Other miscellaneous expenses 4,768 752
Depreciation - 505
Total 81,888 131,453

Voluntary income

4 Analysis of resources expended

Costs of generating voluntary income

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Notes to the financial statements

31 December 2020

5 Details of certain items of expenditure

2020 2019
£ £
Independent examiner’s or auditors' fees for reporting on the accounts 433 433
Other fees (for example: advice, consultancy, accountancy services) paid to the 1,224 2,120
independent examiner or auditor
Total 1,657 2,553
6 Paid employees
2020 2019
£ £
Gross wages, salaries and benefits in kind with average of 2 contract employees 13,000 12,000
Total staff costs 13,000 12,000
7 Tangible fixed assets
Tangible fixed assets
Fixtures, Total
fittings, and
equipment
7.1 Cost or valuation £ £
Balance brought forward 38,371 38,371
Additions - -
Balance carried forward (See Note 10) 38,371 38,371
**Basis SL
** Rate 0.25
7.2 Accumulated depreciation and impairment provisions
Balance brought forward 38,371 38,371
Depreciation charge for year - -
Balance carried forward 38,371 38,371
7.3 Net book value
Brought forward - -
Carried forward - -
Debtors
Analysis of debtors Amounts falling due
within one year
2020 2019
£ £
Other debtors 31,097 37,085
Total 31,097 37,085

8 Debtors

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Notes to the financial statements

31 December 2020

9 Creditors

Amounts falling due Amounts falling due
within one year
2020 2019
£ £
Other creditors - -
Total - -
0 Fixed Assets List
2020 2019
£ £
Church office equipment 7,653 7,653
Furniture and fittings 6,945 6,945
Drums and other musical instruments 21,318 21,318
Computers and software 2,455 2,455
Total 38,371 38,371

10 Fixed Assets List

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