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2020-07-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

(New City of Redemp�on Parish)

Charity reg. no 1125255

TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING

31 JULY 2020

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

CONTENTS

Reference and administra�ve details of the charity 3
Trustee's report 4 - 6
Independent examiner's report 7
Income and Expenditure 8
Balance sheet 9
Notes to the fnancial statements 10 -14

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDING 31 JULY, 20 20

Trustees: Mr Akin Lawal Mr Isaac Akinyemi Lufadeju Mr. Samuel Bun�ng Charity Registra�on Number 1125255 Principal Office: 119 Highfield Road Willesborough Ashford Kent TN24 0LN Pastor in charge Pastor Ayo Oloruntoba Independent Examiner Karoo Accountants 39 Emperor Way Ashford TN23 3QY

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2020

The trustees submit their annual report and the financial statements of The Redeemed Chris�an Church of God City of Redemp�on Parish (the charity) for the year ending 31 July 2020. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity's governing document and the provisions of the Statement of Recommended Prac�ce (SORP) "Accoun�ng and Repor�ng by Chari�es" issued in March 2005.

STATUS

The charity was cons�tuted under a Trust deed dated 21 July 2008 and is registered in England and Wales with charity number 1125255.

APPOINTMENT OR ELECTION OF TRUSTEES

Trustees are elected and or co-opted under the terms of the trust deed.

POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES

The induc�on process for newly appointed trustees comprises an ini�al mee�ng with the chair.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The charity is organised so that the leaders meet to manage its affairs. The Pastor in Charge manages the day to day administra�on of the church.

RELATED PARTY RELATIONSHIPS

City of Redemp�on Parish is a parish of The Redeemed Chris�an Church of God which has parishes all over the world. City of Redemp�on's rela�onship with other RCCG parishes is governed by an 'Agreement for Common Purposes'.

OBJECTS AND ACTIVITIES

The principal object is the advancement of Chris�an faith worldwide and the relief of poverty. To promote any charitable ac�vity for the benefits of the local people. To achieve its objec�ves, the church adopted the following strategies:

The ac�vi�es for achieving its objec�ves include:

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT (Con�nued) FOR YEAR ENDED 31 JULY 2020 GRANT MAKING POLICY

The church supports visi�ng ministers of the gospel both within and outside the United Kingdom. The church gives to RCCG WEM (World Evangelism Mission) COF (Central Office Fund) and Kent Area 2 contribu�ons. The church supports other chari�es and missionary that shares its objects in advancement of Chris�an faith and relief of poverty. The church gives occasional grants to congrega�onal members who are in need.

PUBLIC BENEFITS:

The charity con�nues to give advice and needed support to the weak and vulnerable especially through the coffee morning arm of the ministry. The media ministry commenced in full force and will be broadcas�ng life giving gospel messages to a wider audience.

VOLUNTEERS:

The church is grateful to the uns�n�ng efforts of its volunteers who are involved in providing services for the charity. It is es�mated that over 3600 hours are provided by volunteers during the year. If this is conserva�vely valued at 27.50 per hour, the volunteer's effort will amount to over 227,000.

REVIEW OF ACTIVITIES

Charitable ac�vi�es this financial year were mainly our pop-in coffee morning where the wider community come in for a drink, chat, relaxa�on, prayer, encouragement, counsel and the word of God gently and simply taught. We also held free concerts to encourage a�endees to unwind, flow in joy, dance and li� up praises in an atmosphere of warm fellowship. The church con�nues to enjoy growth in its physical and spiritual life during the year, and in the advancement of Chris�an faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust deed

INVESTMENT POLICY:

The Trustees have decided that at present, funds should be retained in Banks and as far as possible in interest bearing accounts.

PRINCIPAL FUNDING:

Funding has been provided mainly through �thes and offerings by church members.

FUTURE DEVELOPMENT:

The charity con�nues to explore various ways of spreading the gospel of Christ in an effec�ve manner. The charity is also looking to grow in membership and con�nue to develop its members to make life-changing impact in society.

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2020

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The charity trustees are responsible for preparing the Trustees' Annual Report and financial statements in accordance with applicable law and United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).

The law applicable to chari�es in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and applica�on of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• Select suitable accoun�ng policies and then apply them consistently;

• Observe the methods and principles in the Chari�es SORP;

• Make judgement and es�mates that are reasonable and prudent;

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will con�nue in opera�on.

The trustees recognise their responsibili�es to keep proper accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on of the charity and enable them to ensure that the financial statements comply with the Chari�es Act 2011.

They are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

Approved by the Trustees on 25 April 2020 and signed on their behalf by:

REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 JULY 2020

TO THE TRUSTEES OF THE RCCG — NEW CITY OF REDEMPTION PARISH:

I report on the accounts of the charity for the year ended 31 July 2019 which is set out on pages 8 to 14.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER

The charity's trustees are responsible for the prepara�on of the accounts. The charity's trustees consider that an audit is not required for this year under sec�on 142(2) of the Chari�es Act 2011 and that an independent examina�on is needed.

It is my responsibility to:

BASIS OF EXAMINER'S STATEMENT:

My examina�on was carried out in accordance with the General Direc�ons given by the Charity Commission. An examina�on includes a review of the accoun�ng records kept by the charity and a comparison of the accounts presented with those records.

It also includes considera�on of any unusual items or disclosures in the accounts, and seeking explana�ons from you as trustees concerning any such ma�ers. 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 ma�ers set out in the statements below.

EXAMINER'S STATEMENT:

In connec�on with my examina�on, no ma�er has come to my a�en�on:

which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:

• accounts are prepared which agree with the accoun�ng records and comply with the accoun�ng requirements of Act; or

Karoo Accountants 39 Emperor Way Ashford Kent TN23 3QY Date: 25/04/2021

The Redeemed Chris�an Church of God - City of Redemp�on Parish Income and Expenditure for year ended 31 July 2020

Note
s
INCOMING RESOURCES
Dona�ons, Legacies & Similar
Incoming Resources
Grants Received
Ac�vi�es for fund raising
Total Incoming resources
RESOURCES EXPENDED
Charitable Expenditure
Grants Payable - Individual
Grants Payable - Ins�tu�onal
Costs of Ac�vi�es in furtherance of chari�es
objects
Management and Governance Costs
Total Resources Expended
Net (Outgoing)/Incoming Resources
for year
Total Funds at the start of the year
BALANCE AT END OF YEAR		 Unrestricted Funds
Restricte
d Funds
2020
2020
£
£
90,228
90,228
41,314
41,314
0
48,914
28,209
77,123		 Total
Funds
Total
Funds
2020
2019
£
£
90,228
60,180
0
0
0
0
0
0
90,228
60,180
0
0
0
0
41,314
34,896
0
400
41,314
35,296
48,914
24,884
28,209
3,325
77,123
28,209

Movements in reserves and all recognised and losses are shown above

The Charity's incoming resources and resources expended all relate to con�nuing ac�vi�es

FIXED ASSETS
Notes
Tangible Fixed Assets
CURRENT ASSETS
Cash and Bank Balances
Debtors & Receivables
LIABILITIES
Creditors
Accrual and Deferred Income:
Hire Purchase Credit
NET ASSETS
CHARITY FUNDS
General - Unrestricted
General - Restricted
Retained Returns
TOTAL FUNDS		 The Redeemed Chris�an Church of God
- City of Redemp�on Parish
Balance Sheet for year ended 31 July
2020
2020
£
19,103
63,272
63,272
0
82,375
25,511
51,441
5,423
82,375		 2019
£
17,050
38,597
452
39,049
0
56,099
4,936
23,273
27,890
56,099

The accounts have been prepared in accordance with the special provision of Statement of Recommended Prac�ce: Accoun�ng and Repor�ng by Chari�es (SORP) issued March 2005 as modified for smaller chari�es

Approved by the Trustees on 25th April 2021 and signed on behalf by:

THE REDEEMED CHRISTIAN CHURCH OF GOD —CITY OF REDEMPTION PARISH

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

(a) The accounts are prepared under the historical cost conven�on and in accordance with applicable accoun�ng standards. They follow best prac�ce as set out in the Statement of Recommended Prac�ce: Accoun�ng and Repor�ng by Chari�es (SORP) issued March 2005 as

(b) Income and expenditure are accounted for on an accruals basis.

(c) Fixed assets comprise furniture and equipment and musical equipment’s and have been cos�ng more than £100. Tangible fixed assets are stated at cost less deprecia�on. Deprecia�on is provided at rates calculated to write off the cost of fixed assets less the es�mated residual value, over their expected useful lives on the following bases:

Musical equipment - 25% reducing balance,

Furnitures and fi�ngs - 25% reducing balance

Computer equipment - 25% reducing balance

Motor Vehicles - 5% reducing balance

(d) Unrestricted funds are incoming resources received for the objects of the charity without further specified purpose and are available as general funds.

(e) Restricted funds are subject to restric�ons on their expenditure imposed by their donors.

Cost
At 1 August 2019
Addi�ons
As 31 July 2020
Deprecia�on
Charge for the
year
At 31 1uly 2020
Net Book Value
At 31 1uly 2020		 Motor
Vehicles
Musical
Equipment
Computers
&
Projectors
Furnitures
& Fi�ngs
2,663
2,258
5,859
8,165
2,281
2,663
2,258
8,140
8,165
266
226
814
817
266
226
814
817
2,397
2,032
7,326
7,348		 Total
31-Jul-
2020
Total
31 Jul-
2019
18,945
18,945
2,281
0
21,226
18,945
2,123
1,895
2,123
1,895
19,103
17,050
The Redeemed Chris�an Church of God - City of Redemp�on Parish The Redeemed Chris�an Church of God - City of Redemp�on Parish The Redeemed Chris�an Church of God - City of Redemp�on Parish The Redeemed Chris�an Church of God - City of Redemp�on Parish The Redeemed Chris�an Church of God - City of Redemp�on Parish The Redeemed Chris�an Church of God - City of Redemp�on Parish The Redeemed Chris�an Church of God - City of Redemp�on Parish
Income and Expenditure foryear ended 31 July 2020
Unresticted
Funds
Resticted
Funds		 Total Funds Total Funds
2020 2020 2020 2019
£ £ £ £
2. Dona�ons, Legacies & Similar Incoming Resources
Collec�on and other dona�ons - UNRESTRICTED
Planned Giving 0 0
Collec�on at all services 30,835 30,835 28,641
SundryDona�ons 0 0
BuildingFund 51,442 51,442 23,273
Gi� Aid Tax Claimed 7,781 7,781 8,266
90,058 90,058 60,180
Unresticted
Funds
Resticted
Funds		 Total Funds Total Funds
2019 2019 2019 2018
£ £ £ £
3. GRANT RECEIVED
From RCCG Provincial Headquarters for Missions 0 0 0 0
Unresticted
Funds
Resticted
Funds		 Total Funds Total Funds
2020 2020 2020 2019
£ £ £ £
3a. FUND RASING ACTIVITIES
Discount Received 0 0 0 0
Unresticted
Funds
Resticted
Funds		 Total Funds Total Funds
2020 2020 2020 2019
£ £ £ £
4. Grants Payable - Individual
Individual Welfare 0
5. Grants Payable - Ins�tu�onal
Charitable Giving- UK 0
Charitable Giving- Overseas
Total 0
List of Ins�tu�onal Grants Payable
Sor�e Trust,Outreach 0
Total Grant Payable - Ins�tu�onal 0 0 0 0
6. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS
Conference & Seminar Cost 5,775 5,775 4,560
Deprecia�on 2,123 2,123 1,895
Hall Hire,Rent & Rates 9,673 9,673 9,296
Heat & Light 0 0 207
Insurance 1,345 1,345 1,100
Missions and Evangelism 5,401 5,401 4,370
Motor Expenses 920 920 217
Pastor's Salary 5,500 5,500 0
Prin�ng,Postage and Sta�onery 1,564 1,564 3,706
SundryExpenses 1,210 1,210 3,999
Telephone & Fax 2,851 2,851 1,517
Travel and Subsistence 330 330 3,299
Visi�ngSpeakers Expenses 2,100 2,100 1,118
Water Rates 0 0 56
Welfare & Hospitality 1,722 1,722 1,451
40,514 0 40,514 36,791
7. MANAGEMENT AND GOVERNANCE COSTS
Interest & Bank Charges 0 0 0
Examiner's Fees - Accountancy 800 800 400
Professional Fees 0 0
800 0 800 400