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2022-07-31-accounts

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

(New City of Redemption Parish)

Charity reg. no 1125255

TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING

31 JULY 2022

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

CONTENTS

Reference and administrative 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 financial statements 10 -14

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

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 2022

Trustees: Mr Akin Lawal Mr Isaac Akinyemi Lufadeju Mr. Samuel Bunting Charity Registration 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

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2022

The trustees submit their annual report and the financial statements of The Redeemed Christian Church of God City of Redemption Parish (the charity) for the year ending 31 July 2021. 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 Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.

STATUS

The charity was constituted 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 induction process for newly appointed trustees comprises an initial meeting 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 administration of the church.

RELATED PARTY RELATIONSHIPS

City of Redemption Parish is a parish of The Redeemed Christian Church of God which has parishes all over the world. City of Redemption's relationship with other RCCG parishes is governed by an 'Agreement for Common Purposes'.

OBJECTS AND ACTIVITIES

The principal object is the advancement of Christian faith worldwide and the relief of poverty. To promote any charitable activity for the benefits of the local people. To achieve its objectives, the church adopted the following strategies:

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

The activities for achieving its objectives include:

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT (Continued) FOR YEAR ENDED 31 JULY 2022 GRANT MAKING POLICY

The church supports visiting 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 contributions. The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.

PUBLIC BENEFITS:

The charity continues 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 broadcasting life giving gospel messages to a wider audience.

VOLUNTEERS:

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

REVIEW OF ACTIVITIES

The church continues to enjoy 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 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 tithes and offerings by church members.

FUTURE DEVELOPMENT:

The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in society.

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2022

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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities 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 application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in the Charities SORP;

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 financial statements comply with the Charities Act 2011.

They are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 11 November 2022 and signed on their behalf by:

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 JULY 2022

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 2022 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 preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 142(2) of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of Charities Act 2011;

• follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and

BASIS OF EXAMINER'S STATEMENT:

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 accounts, 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:

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 accounting records and comply with the accounting requirements of Act; or

Karoo Accountants 39 Emperor Way Ashford Kent TN23 3QY Date: 11/11/2022

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

The Redeemed Christian Church of God - City of Redemption Parish Income and Expenditure for year ended 31 July 2022

Note
s
INCOMING RESOURCES
Donations, Legacies & Similar Incoming
Resources
2
Grants Received
3
Activities for fund raising
3a
Total Incoming resources
RESOURCES EXPENDED
Charitable Expenditure
Grants Payable - Individual
Grants Payable - Institutional
Costs of Activities in furtherance of
charities 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
Restricted
Funds
2022
2022
£
£
108,620
108,620
0
50,339
50,339
0
58,281
0
138,250
196,531
0		 Total
Funds
Total
Funds
2022
2021
£
£
108,620
134,425
0
0
0
0
0
0
108,620
134,425
0
0
0
0
50,339
33,414
0
0
50,339
33,414
58,281
101,011
138,250
37,239
196,531
138,250

Movements in reserves and all recognised and losses are shown above

The Charity's incoming resources and resources expended all relate to continuing activities

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

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
1d
General - Restricted
1e
Other
TOTAL FUNDS		 The Redeemed Christian Church of God
- City of Redemption Parish
Balance Sheet for year ended 31 July
2022
2022
£
25,912
25,912
170,619
170,619
0
196,531
58,281
0
138,250
196,531		 2021
£
19,103
19,103
63,272
0
63,272
0
82,375
25,511
51,441
5,423
82,375

The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities

Approved by the Trustees on 11 November 2022 and signed on behalf by:

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

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 convention and in accordance with applicable accounting standards. They follow best practice as set out in the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.

(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 costing more than £100. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less the estimated residual value, over their expected useful lives on the following bases:

Musical equipment - 25% reducing balance,

Furnitures and fittings - 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 restrictions on their expenditure imposed by their donors.

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

Cost
At 1 August 2021
Additions
As 31 July 2022
Depreciation
Charge for the year
At 31 July 2022		 Motor
Vehicles
Musical
Equipment
Computers
&
Projectors
Furnitures
& Fittings
2,157
1,829
8,535
7,096
8,258
2,157
1,829
8,535
15,354
216
183
854
710
216
183
854
710		 Total
31-Jul-
2022
Total
31 Jul-
2021
19,617
19,103
8,258
2,624
27,875
21,727
1,963
2,110
1,963
2,110

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

The Redeemed Christian Church of God - City of Redemption Parish

Income and Expenditure for year ended 31 July 2022

2. Donations, Legacies & Similar Incoming Resources
Collection and other donations - UNRESTRICTED
Planned Giving
Collection at all services
Sundry Donations
Building Fund
Gift Aid Tax Claimed
3. GRANT RECEIVED
From RCCG Provincial Headquarters for Missions
3a. FUND RASING ACTIVITIES
Discount Received		 Unrestricted
Funds
Restricted
Funds
2022
2022
£
£
86,107
941
5,455
16,117
108,620
0
Unrestricted
Funds
Restricted
Funds
2022
2022
£
£
0
0
Unrestricted
Funds
Restricted
Funds
2022
2022
£
£
0
0
Unrestricted
Funds
Restricted
Funds
2022
2022
£
£		 Total
Funds
Total
Funds
2022
2021
£
£
0
0
86,107
68,928
941
5,386
5,455
51,318
16,117
8,793
108,620
134,425
Total
Funds
Total
Funds
2022
2021
£
£
0
0
Total
Funds
Total
Funds
2022
2021
£
£
0
0
Total
Funds
Total
Funds
2022
2021
£
£

4. Grants Payable - Individual

Individual Welfare

  1. Grants Payable - Institutional Charitable Giving - UK

0

0

DocuSign Envelope ID: 7CBF006C-7D57-4179-9DE8-72EB956F2D75

Charitable Giving - Overseas Total 0

List of Institutional Grants Payable
Sortie Trust, Outreach
Total Grant Payable - Institutional
6. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS
Conference & Seminar Cost
Depreciation
Hall Hire, Rent & Rates
Insurance
Missions and Evangelism
Motor Expenses
Pastor's Salary
Printing, Postage and Stationery
Sundry Expenses
Telephone & Fax
Travel and Subsistence
Visiting Speakers Expenses
Welfare & Hospitality
7. MANAGEMENT AND GOVERNANCE COSTS
Interest & Bank Charges
Examiner's Fees - Accountancy
Professional Fees		 0
0
3,964
1,963
13,896
586
8,400
2,378
6,000
1,012
1,800
1,950
450
2,000
5,540
49,939
0
0
400
400
0		 0
0
0
3,964
538
1,963
2,110
10,524
9,049
586
763
8,400
6,120
2,378
1,495
6,000
6,000
1,012
619
1,800
1,425
1,950
1,173
450
152
2,000
1,300
5,540
2,270
46,567
33,014
0
0
400
400
0
0
400
400

Isaac Lufadeju

Ayo Oloruntoba