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← Rccg - City Of Redemption Parish

2024-07-31-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 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

CONTENTS

Reference and administra�ve 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 fnancial statements 11 - 13

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 2024 Trustees: Mr Akin Lawal Mr Isaac Akinyemi Lufadeju Mr. Samuel Bun�ng Mrs Ti�layo Oloruntoba Mr Patrick Ebuzoeme Charity Registra�on 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

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT FOR YEAR ENDED 31 JULY 2024

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 2024.

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 Reporting 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:

SPECIAL ACTIVITES TAKEN IN 2024:

  1. We par�cipated in charitable events such as (CLOJ) every December. This is a Christmas Charity event tagged as "Christmas Lunch on Jesus" and it is part of the RCCG Love Christmas program.

  2. Renova�on of the building is ongoing.

  3. Evangelism. The Evangelism team of the parish has embarked on an outreach programme termed

‘Light Up Ashford’

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

TRUSTEES' REPORT (Con�nued) FOR YEAR ENDED 31 JULY 2024 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 par�cipate 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

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 several 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 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The charity trustees are responsible for preparing the Trustees' Annual Report and financial

statements for each financial year which give a true and fair view of the state of affairs of the charity

preparing these financial statements, the trustees are required to:

They are also responsible for safeguarding the assets of the company and hence taking reasonable

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 19[th] of May 2025 and signed on their behalf by:

REDEEMED CHRISTIAN CHURCH OF GOD CITY OF REDEMPTION PARISH

INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 JULY 2024

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 2024 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:

• examine the accounts under sec�on 145 of Chari�es Act 2011;

• state whether par�cular ma�ers have come to my a�en�on.

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: 20/05/2025

Income and Expenditure for year ended 31 July 2024

Restricted Total Total
Notes Unrestricted Funds Funds Funds Funds
2024 2024 2024 2023
£ £ £ £
INCOMING RESOURCES
Donations, Legacies & Similar Incoming
Resources 196,642 196,642 196,659
Grants Received 0 0
Activities forfund raising 0 0
0 0
Total Incoming resources 196,642 0 196,642 196,659
RESOURCES EXPENDED
Charitable Expenditure
Grants Payable - Individual 0 0
Grants Payable - Institutional 0 0
Costs of Activities in furtherance of
charities objects 124,147 124,147 120,330
Management and Governance Costs 0 0
Total Resources Expended 124,147 0 124,147 120,330
Net (Outgoing)/Incoming Resources for
year 72,495 0 72,495 76,329
Total Funds at the start of the year 26,162 26,162 196,531
98,657 98,657 272,860
Purchase of Church Building 246,698
BALANCE AT END OF YEAR 98,657 0 98,657 26,162

Movements in reserves and all recognised and losses are shown above

The Redeemed Chris�an Church of God - City of Redemp�on Parish Balance Sheet for year ended 31 July 2024

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		 2024
£
91,833
450,000
541,833
20,139
6,600
26,739
16,099
207,118
223,217
345,355
72,495
0
272,860
345,355		 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

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 25 May 2025 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 modified for smaller chari�es.

(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 2023
Addi�ons
As 31 July 2024
Deprecia�on
Charge for the year
At 31 July 2024
Net Book Value
At 31 July 2024		 Motor
Vehicles
Musical
Equipment
Computers
&
Projectors
Furniture
& Fi�ngs
Church
Building
1,747
10,106
6,913
13,180
40,113
14,133
15,845
1,747
24,239
22,758
13,180
40,113
175
2424
2,276
1318
4011
175
2,424
2,276
1,318
4,011
1,572
21,815
20,482
11,862
36,102		 Total
31-Jul-
2024
Total
31 Jul-
2023
72,059
25,912
29,978
54,153
102,037
80,065
10,204
8,006
10,204
8,006
91,833
72,059
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 2024
Unrestricte
d Funds		 Restricted
Funds		 Total Funds Total Funds
2024 2024 2024 2023
£ £ £ £
2. Dona�ons, Legacies & Similar Incoming Resources
Collec�on and other dona�ons - UNRESTRICTED
Planned Giving 0 0
Collec�on at all services 151,094 151,094 138,714
SundryDona�ons 5925 5,925 3,206
BuildingFund 0 0 30,490
Gi� Aid Tax Claimed 39,623 39,623 24,249
196,642 0 196,642 196,659
Unrestricte
d Funds		 Restricted
Funds		 Total Funds Total Funds
2024 2024 2024 2023
£ £ £ £
3. GRANT RECEIVED
From RCCG Provincial Headquarters for Missions 0 0 0 0
Unrestricte
d Funds		 Restricted
Funds		 Total Funds Total Funds
2024 2024 2024 2023
£ £ £ £
3a. FUND RASING ACTIVITIES
Discount Received 0 0 0 0
Unrestricte
d Funds		 Restricted
Funds		 Total Funds Total Funds
2024 2024 2024 2023
£ £ £ £
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 3,993 3,993 3,350
Books 1,097 1,097 1,159
Deprecia�on 10,204 10,204 8,006
Hall Hire,Rent & Rates,Mortgage 20,218 20,218 15,474
Heat & Light 10,405 10,405 0
Insurance 941 941 1,546
Missions and Evangelism 4,750 4,750 5,600
Motor Expenses 1,290 1,290 1,302
Administra�ve Expenses 401 401
Pastor's Salary 13,500 13,500 6,750
Prin�ng,Postage and Sta�onery 1,092 1,092 2,005
Repairs & Maintenance 33,033 33,033 57,313
SundryExpenses 70 70 1,910
Telephone & Communica�on 2,295 2,295 1,155
Training 3,340 3,340
Travel and Subsistence 2,333 2,333 3,260
Visi�ngSpeakers Expenses 2,920 2,920 2,100
Water Rates 1,644 1,644 250
Welfare & Hospitality 7,947 7,947 5,576
121,473 0 121,473 116,756
7. MANAGEMENT AND GOVERNANCE COSTS
Interest & Bank Charges 0 0 0
Examiner's Fees - Accountancy 400 400 400
Professional Fees 2,274 2,274 3,174
2,674 0 2,674 3,574