DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
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 2023
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH
CONTENTS
| Reference and administrative details of the charity | 3 |
|---|---|
| Trustee's report | 4 - 7 |
| Independent examiner's report | 8 |
| Income and Expenditure | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 -12 |
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
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 2023
Trustees: Mr Akin Lawal Mr Isaac Akinyemi Lufadeju Mr. Samuel Bunting
Charity Registration Number 1125255
Principal Office: Units 3 & 4 17-25 New Rents Ashford Kent TN23 1JJ Pastor in charge Pastor Ayo Oloruntoba Independent Examiner Karoo Accountants 39 Emperor Way Ashford TN23 3QY
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH
TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2023
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 2023.
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:
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Conducting Sunday worship services, midweek bible study and prayer meetings
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Running seminars in the church with proven ministers of the faith to guide members in the various aspect of Christian faith,
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Support for other charities and Christian events,
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Running of a weekly coffee morning outreach to the wider community, and
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Regular visitations within the local community to provide required support.
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
The activities for achieving its objectives include:
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Community outreach events
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Conferences and events
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Welfare support to members and general public, and
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Various missionary activities
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None feeble women forum building women for the home and nation
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Men Forum
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Youths Forum- to actively engage the youths in sporting activities and dance/ drama activities
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Couples Fellowship
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Men's Fellowship
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Proposed Parents and toddlers’ group
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House fellowships cells in various locations in the community.
SPECIAL ACTIVITES TAKEN IN 2023:
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We participated in charitable events such as CLOJ December 2022. This is a Christmas Charity event tagged as "Christmas Lunch on Jesus" and it is part of the RCCG Love Christmas program.
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Building Purchase – The Church acquired a permanent building in the centre of Ashford.
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Renovation of the building
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH
TRUSTEES' REPORT (Continued) FOR YEAR ENDED 31 JULY 2023 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 participate 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 several 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: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH
TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2023
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.
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Observe the methods and principles in the Charities SORP.
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Make judgement and estimates that are reasonable and prudent.
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
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 21 May 2023 and signed on their behalf by:
Isaacs Lufadeju
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REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH
INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 JULY 2023
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 2023 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:
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examine the accounts under section 145 of Charities Act 2011;
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follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
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state whether particular matters have come to my attention.
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:
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proper accounting records are kept (in accordance with section 41 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of Act; or
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(1) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Karoo Accountants 39 Emperor Way Ashford Kent TN23 3QY Date: 08/05/2023
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
The Redeemed Christian Church of God - City of Redemption Parish Income and Expenditure for year ended 31 July 2023
| Notes 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 Purchase of Church Building BALANCE AT END OF YEAR |
Unrestricted Funds Restricted Funds 2023 2023 £ £ 196,659 196,659 0 112,324 112,324 0 84,335 0 196,531 280,866 246,698 34,168 0 |
Total Funds Total Funds 2023 2022 £ £ 196,659 108,620 0 0 0 0 0 0 |
|---|---|---|
| 196,659 108,620 |
||
| 0 0 0 0 112,324 50,339 0 0 |
||
| 112,324 50,339 |
||
| 84,335 58,281 196,531 138,250 |
||
| 280,866 196,531 246,698 |
||
| 34,168 196,531 |
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: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
The Redeemed Christian Church of God - City of Redemption Parish Balance Sheet for year ended 31 July 2023
| FIXED ASSETS Notes Tangible Fixed Assets Church Building CURRENT ASSETS Cash and Bank Balances Debtors & Receivables LIABILITIES Creditors Accrual and Deferred Income: Long Term Loan NET ASSETS CHARITY FUNDS General - Unrestricted General - Restricted Other TOTAL FUNDS |
2023 £ 72,059 450,000 522,059 1,494 2,400 3,894 28,093 225,000 253,093 272,860 76,329 0 196,531 272,860 |
2022 £ 25,912 |
|---|---|---|
| 25,912 170,619 0 |
||
| 170,619 | ||
| 0 | ||
| 196,531 | ||
| 58,281 0 138,250 |
||
| 196,531 |
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 21 May 2024 and signed on behalf by:
Isaacs Lufadeju
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
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,
Furniture 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.
| Cost At 1 August 2022 Additions As 31 July 2023 Depreciation Charge for the year At 31 July 2023 Net Book Value At 31 July 2023 |
Motor Vehicles Musical Equipment Computers & Projectors Furniture & Fittings Church Building 1,941 1,646 7,681 14,644 9,583 44,570 1,941 11,229 7,681 14,644 44,570 194 1122.9 768 1464.4 4457 194 1,123 768 1,464 4,457 1,747 10,106 6,913 13,180 40,113 |
Total 31-Jul-2023 Total 31 Jul- 2022 25,912 19,617 54,153 8,258 |
|---|---|---|
| 80,065 27,875 |
||
| 8,006 1,963 |
||
| 8,006 1,963 |
||
| 72,059 25,912 |
DocuSign Envelope ID: 2A34A1E3-09B9-49A4-AB2A-FF1DDA43B6E1
| The Redeemed Christian Church of God - City of Redemption Parish | The Redeemed Christian Church of God - City of Redemption Parish | The Redeemed Christian Church of God - City of Redemption Parish | The Redeemed Christian Church of God - City of Redemption Parish | The Redeemed Christian Church of God - City of Redemption Parish | The Redeemed Christian Church of God - City of Redemption Parish | The Redeemed Christian Church of God - City of Redemption Parish |
|---|---|---|---|---|---|---|
| Income and Expenditure foryear ended 31 July 2023 | ||||||
| Unrestricte d Funds |
Restricted Funds |
Total Funds | Total Funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| 2. Donations, Legacies & Similar Incoming Resources | ||||||
| Collection and other donations - UNRESTRICTED | ||||||
| Planned Giving | 0 | 0 | ||||
| Collection at all services | 138,714 | 138,714 | 86,107 | |||
| SundryDonations | 3,206 | 3,206 | 941 | |||
| BuildingFund | 30,490 | 30,490 | 5,455 | |||
| Gift Aid Tax Claimed | 24,249 | 24,249 | 16,117 | |||
| 196,659 | 0 | 196,659 | 108,620 | |||
| Unrestricte d Funds |
Restricted Funds |
Total Funds | Total Funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| 3. GRANT RECEIVED | ||||||
| From RCCG Provincial Headquarters for Missions | 0 | 0 | 0 | 0 | ||
| Unrestricte d Funds |
Restricted Funds |
Total Funds | Total Funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| 3a. FUND RASING ACTIVITIES | ||||||
| Discount Received | 0 | 0 | 0 | 0 | ||
| Unrestricte d Funds |
Restricted Funds |
Total Funds | Total Funds | |||
| 2023 | 2023 | 2023 | 2022 | |||
| £ | £ | £ | £ | |||
| 4. Grants Payable - Individual | ||||||
| Individual Welfare | 0 | |||||
| 5. Grants Payable - Institutional | ||||||
| Charitable Giving- UK | 0 | |||||
| Charitable Giving- Overseas | ||||||
| Total | 0 | |||||
| List of Institutional Grants Payable | ||||||
| Sortie Trust,Outreach | 0 | |||||
| Total Grant Payable - Institutional | 0 | 0 | 0 | 0 | ||
| 6. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS | ||||||
| Conference & Seminar Cost | 3,350 | 3,350 | 3,964 | |||
| Books | 1,159 | 1,159 | 0 | |||
| Depreciation | 0 | 1,963 | ||||
| Hall Hire,Rent & Rates,Mortgage | 15,474 | 15,474 | 13,896 | |||
| Heat & Light | 0 | 0 | 0 | |||
| Insurance | 1,546 | 1,546 | 586 | |||
| Missions and Evangelism | 5,600 | 5,600 | 8,400 | |||
| Motor Expenses | 1,302 | 1,302 | 2,378 | |||
| Pastor's Salary | 6,750 | 6,750 | 6,000 | |||
| Printing,Postage and Stationery | 2,005 | 2,005 | 1,012 | |||
| Repairs & Maintenance | 57,313 | 57,313 | 0 | |||
| SundryExpenses | 1,910 | 1,910 | 1,800 | |||
| Telephone & Fax | 1,155 | 1,155 | 1,950 | |||
| Travel and Subsistence | 3,260 | 3,260 | 450 | |||
| VisitingSpeakers Expenses | 2,100 | 2,100 | 2,000 | |||
| Water Rates | 250 | 250 | 0 | |||
| Welfare & Hospitality | 5,576 | 5,576 | 5,540 | |||
| 108,750 | 0 | 108,750 | 49,939 | |||
| 7. MANAGEMENT AND GOVERNANCE COSTS | ||||||
| Interest & Bank Charges | 0 | 0 | 0 | |||
| Examiner's Fees - Accountancy | 400 | 400 | 400 | |||
| Professional Fees | 3,174 | 3,174 | 0 | |||
| 3,574 | 0 | 3,574 | 400 |