REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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 DA17 6JF
REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE TABLE OF CONTENTS I) TRUSTEES REPORT 2) EXAMINERS REPORT 3) INCOME AND EXPENDITURE ACCOUNT 4) BALANCE SHEET 5) NOTES TO THE ACCOUNT
REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE TRUSTEES, REPORT (CONTINUED) Statement of Trustees, Res onsibilities The Charities Act requires the Trustees to prepare financial statements for each financial year which oive 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 preparin(y these financial statements, the trustees are requested to: Select suitable accounting policies and then apply them consistently; Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; Prepare the financial statements on the cyoing concern basis unless it is inappropriate to presume that the charity will continue in opei'ation. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and LO 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. Trustees The members of the trustees during the year were: PASTOR MOHAMMED DELE ALABI MRS SIMISOLA I(AREEM MR OLUFEMI PATRICK OMOYA roval This report was approved by the board of trustees on the ................and si(yned on its behalf by: IL( PASTOR MOHAMMED DELE ALABI DATE
Eternal Excellency Cli,11-terec4 (.ertifieil ,IcLOLintclll(s .Iddie:.. T< J E.n.[.l4 ¢Ut."ft,= Dri:.I'¢' Ileli-¢dei¢, IKeitL I l.a17 611. Ql_12 > 4[<1_14.1 Ei)I,iil: iti(oQJ'LtLriE.,Ileicelle"LC3'.iO.LII.- Independent Examiner's Report to the Directors of "The Redeemed Christian Church of God (RCCG) Restoration House ' I report on the accounts of the Charity for the year ended 31 March 2025, 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 considerthat 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: examine the accounts (under section 145 of Charities Act 2011; 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 to state 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 I 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: (l) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 386 and 387 of the 2006 Act; and 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. Olufemi Oguntunde FCCA
REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 i otai Funds 2025 i otai Funds 2024 Unrestricted Restricted Funds Funds Notes Incoming Resources Incoming Resources From Donors 68,908 68,908 64,368 Other Voluntary Income Total Incoming Resources 68,908 68,908 64,368 Resources Expended Church Administration and Ministry 61,892 61,892 65,994 Church Management 5,020 5,020 7,400 Total Resources Expended 66,912 66,912 73,394 Net Income (Outgoing) For The Year 1,996 1,996 (9,026) Yet Movement In Funds Total Funds As At 1st April 195,854 195,854 204,880 Total Funds As At 31st March 197,850 197,850 195,854
ED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE BALANCE SHEET AS AT 31ST MARCH 2025 NOTES 2025 2024 Frxed Assets Tangible Assets 360,000 371,250 Current Assets Bank 45,460 36,995 Other Debtors Current Liabilities Creditors & Accruals 1,000 1,000 Long Term Liabilities Debt due after 1 year 206,610 211,391 Net Assets 197,850 195,854 Reserves 197,850 195,854 IL Pastor Mohammed Dele Alabi Date
REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE NOTES TO THE ACCOUNT FOR THE FOR THE YEAR ENDED 31ST MARCH 2025 1) Accounting policies 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
REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE NOTES TO THE ACCOUNT FOR THE FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 2) Income From Donors Tithes & Offerings 68,908 64,368 68,908 64,368 3) Other Voluntary Income Other Income Gift Aid 4) Church Administration & Ministry Church Outreach Transportation Expenses Stationeries & Printing Training Depreciation Donations & Welfare Other Church Running Expenses Mortgage Expenses Stipends 12,922 839 1,365 1,230 11,250 3,261 6,642 18,383 6,000 10,265 812 744 701 11,250 1,784 14,905 19,033 6,500 61,892 65,994 5) Church Management Accountancy fee Central Office Subscription 1,000 4,020 1,000 6,400 5,020 7,400 10
REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) RESTORATION HOUSE NOTES TO THE ACCOUNT FOR THE FOR THE YEAR ENDED 31ST MARCH 2025 6) Tangible Fixed Assets Fixtures & Fittings Total Building At cost Gross Book Value Additions at cost Disposals at cost At 1 Apr 2024 465,180 15,180 450,000 Gross Book Value At 31 Mar 2025 465,180 15,180 450,000 Depreciation Depreciation At 1 Apr 2024 Depreciation Charge for the year Depreciation on Disposal 93,930 11,250 15,180 78,750 11,250 Total Depreciaton At 31 Mar 2025 105,180 15,180 90,000 Net Book Value Net Book Value Net Book Value At 31 Mar 2025 At 31 Mar 2024 360,000 371,250 360,000 371,250 7) Creditors & Accruals 2025 2024 Accruals 1,000 1,000 1,000 1,000 8) Long Term Liability 2025 2024 Mortgage ALcount 206,610 211,391 206,610 211,391 9) Reserves 2025 2024 Balance blf Surplus for the year 195,854 1,996 204,880 (9,026) Balance c/f 197,850 195,854