# REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE
## FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
> CHARITY NUMBER: 1123579
# REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE
TRUSTEES: PASTOR MOHAMMED DELE ALABI MRS SIMISOLA KAREEM MR OLUFEMI PATRICK OMOYA
MINISTER IN CHARGE PASTOR OLURANTI AJAYI
CHARITY REG NO.: 1123579 BANKERS: LLOYDS TSB BANK 14—20 POWIS STREET WOOLWICH LONDON SE18 6LF
ACCOUNTANTS: ETERNAL EXCELLENCY LIMITED (Chartered Certified Accountants ) 20 ELMBOURNE DRIVE KENT DAI7 6JF
# REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE
## TABLE OF CONTENTS
1) TRUSTEES REPORT
2) EXAMINERS REPORT
3) INCOME AND EXPENDITURE ACCOUNT
4) BALANCE SHEET
5) NOTES TO THE ACCOUNT
## REDEEMED CHRISTIAN CHURCH OF GOD (RC CG) RESTORATION HOUSE
## TRUSTEES’ REPORT
The Trustees have the pleasure of submitting their report and accounts for the period ended 31st March 2024.
## Objectives of the Charity, Vision, Principal Activities and Organisation of our work
The objectives of Redeemed Christian Church of God (RCCG) Restoration House are:a) To seek the advancement of the Christian religion in accordance with the teachings of the Redeemed Christian Church of God, and to educate people in the Word of God; b) To teach the knowledge of Jesus Christ all over the Thamesmead, Greenwich and Bexley Councils and beyond.
The principal activities of the church are Christian worship, Christian outreach program to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man, spiritually, mentally and physically.
The charity has a number of volunteers who assist in helping it achieve its various objectives.
## Development, Activities and Achievements in the year
The charity is committed to the ministration of the needs of various social groups within and outside the church. The charity provides forum for manpower development for its members to be equipped, educationally, socially and spiritually.
The church in accordance with the agreement of common purposes signed with RCCG Central Office make regular contribution towards RCCG WEM, RCCG Central Office, Festival of Life and other national activities of RCCG Central Office.
RCCG Restoration House ensure that all their activities are planned and designed for the benefit of the general public and in line with the Charity’s objects of Advancement of Christian Faith and the Relief of Poverty
## Review of financial position
Please refer to the annexed account for the details of the Financial Statements for the period ended 31st March 2024.
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# REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE
, TRUSTEES’ REPORT (CONTINUED)
## Statement of Trustees’ Responsibilities
The Charities Act requires the Trustees to prepare finar.cial statements for each financial year which 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 these financial statements, the trustees are requested to: e Select suitable accounting policies and then apply them consistently; e Make judgements and estimates that are reasonable and prudent; e State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explainec in the financial e statements;Prepare the financial statements. on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are 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.
.
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Trustees
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The members of the trustees during the year were:
PASTOR MOHAMMED DELE ALABI MRS SIMISOLA KAREEM MR OLUFEMI PATRICK OMOYA
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Approval
This report was approved by the board of trustees on the cessessuseand signed on its behalf
by:
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PASTOR MOHAMMED DELE ALABI DATE
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fel: 01322 410 341 Email: info@eternalexcellency.co.uk Website: www.eternalexcellency.co.uk
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<> Chartered Certified Accountants
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— Website: Independent Examiner’s Report to the Directors of "The Redeemed Christian Church of God (RCCG) Restoration House " | report on the accounts of the Charity for the year ended 31 March 2024, which are set out on pages 07 to 11.
## Respective responsibilities of trustees and examiner
The charity's directors are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year under section 476 of the Charities Act 2006 (the 2006 Act)) and that an independent examination is needed.
- it is my responsibility to: e examine the accounts (under section 145 of Charities Act 2011; e to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
- e tostate whether particular matters have come to my attention.
## Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 accounts, and seeking explanations from you as directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
## Independent examiner’s statement
- In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements e to keep accounting records in accordance with section 386 and 387 of the 2006 Act; and
- e to prepare accounts which accord with the accounting records and comply with the accounting requirements of sections 394 and 395 of the 2006 Act
- have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Olufemi Oguntunde FCCA
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## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 ST MARCH 2024
||||1otal
lotal|
|---|---|---|---|
|||Unrestricted Restricted|Funds
Funds|
|||Funds
Funds|2024
2023|
|Notes||||
|Incoming Resources||||
|Incoming ResourcesFrom Donors|2|64,368
-|64,368
57,054|
||||-|
|Other Voluntary Income|3|-
-|-|
|||a||
|Total Incoming Resources||64,368
-|64,368
57,054|
|||eee||
|Resources Expended||||
|Church Administration and Ministry|4|65,994
-|65,994
53,270|
|Church Management|5|7,400
-|7,400
5,100|
|||eee||
|Total Resources Expended||73,394
»|73,394
58,370|
|||a||
|||a||
|Net Income (Outgoing) ForTheYear||(9,026)
-|(9,026)
(1,316)|
|||a7||
|Net Movement In Funds||||
|Total Funds AsAt 1stApril||204,880
-|204,880
206,196|
|||a||
|Total Funds AsAt31stMarch||195,854
-|195,854
204,880|
|||an||
7
## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE BALANCE SHEET AS AT 31ST MARCH 2024
||NOTES|2024|2023|
|---|---|---|---|
|Fixed Assets
TangibleAssets|6|371,250|382,500|
|CurrentAssets
Bank||36,995|39,252|
|Other Debtors||0|0|
|Current Liabilities
Creditors&Accruals|7|4,000|4,000|
|Long Term Liabilities
Debtdueafter 1 year|8|211,391|215,872|
|NetAssets||195,854|204,880|
|Reserves|9|195,854|204,880|
|PastorMohammedDele
be|DeleAlabi||Date
Z3(u}24|
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1) Accounting policies
## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE NOTES TO THE ACCOUNT FOR THE FOR THE YEAR ENDED 31ST MARCH 2024
- 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards, the Charities SORP (Statement of Recommended Practice: "Accounting and Reporting by Charities (revised February 2005)")and the Financial Reporting Standard for Smaller Entities (effective April 2008).
- 1.2 Fund Accounting Unrestricted funds are general funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the church and which have not been designed for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes.
- 1.3 Incoming Resources All incoming resources are included in the Statement of Financial Activities when the church is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Therefore Tithes, Offerings, Donations and similar Incoming Resources are included in the year they are receivable, which is when the Charity becomes entitled to the resources.
1.4 Resources Expended All expenditure is accounted for on an accruals basis and have been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. The Charity is not registered for VAT and expenditure are are accordingly reflected gross of irrecoverable VAT. Governance costs are those incurred in connection with administration of the church and compliance with constitutional and statutory requirements. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
- 1.5 Tangible Fixed Assets and Depreciation angible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated value, over their expected useful lives on the following bases: Church and Office equipment - 25% straight line
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE NOTES TO THE ACCOUNT FOR THE FOR THE YEAR ENDED 31ST MARCH 2024
|||2024|2023|
|---|---|---|---|
|2)|Income From Donors
Tithes & Offerings|64,368|57,054|
|||64,368|57,054|
|3)|OtherVoluntary Income
Other Income
GiftAid|0
0|0
0|
|||0|0|
|4)|Church Administration & Ministry
Church Outreach
Transportation Expenses
Stationeries& Printing
Training
Depreciation
Donations&Welfare
Other Church Running Expenses
Mortgage Expenses
Stipends|10,265
812
744
701
11,250
1,784
14,905
19,033
6,500|6,608
0
1,737
0
11,250
1,235
11,647
14,793
6,000|
|||65,994|53,270|
|5)|Church Management
Accountancyfee
Central Office Subscription|4,000
6,400|4,000
4,100|
|||7,400|5,100|
10
## REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE NOTES TO THE ACCOUNT FOR THE FOR THE YEAR ENDED 31ST MARCH 2024
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Fixtures &
6) Tangible Fixed Assets Total Fittings Building
At cost E E. £
Gross Book Value At 1 Apr 2023 465,180 15,180 450,000
Additions at cost 0 0 0
Disposals at cost 0 0 0
Gross Book Value At 31 Mar 2024 i465,180 15,180 450,000
Depreciation
Depreciation At 1 Apr 2023 82,680 15,180 67,500
Depreciation Charge for the year 11,250 0 11,250
Depreciation on Disposal 0 0 0
ee__
Total Depreciaton At 31 Mar 2024 93,930 15,180 78,750
Net Book Value
Net Book Value At 31 Mar 2024 ne__ 371,250 0 371,250
Net Book Value At 31 Mar 2023 382,500 0 382,500
7) Creditors & Accruals 2024 2023
£ 5
Accruals 1,000 1,000
ee
1,000 1,000
ee
8) Long Term Liability 2024 2023
2 £
Mortgage Account 211,391 215,872
i
211,391 215,872
a
9) Reserves 2024 2023
£ £
Balance b/f 204,880 206,196
Surplus for the year (9,026) (1,316)
ee
Balance c/f 195,854 204,880
ee
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