Charity Registration Number : 1126373
## **THE REDEEMED ASSEMBLIES TRUST**
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
## **THE REDEEMED ASSEMBLIES TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
FOR THE YEAR ENDED 30 APRIL 2025
**Trustees** SANDRA OKUNDAYE AMAN VICTOR EZANI NIAMKEY OMORUYI OSAGIE Apostle Sunday Iyi LINDA OHONYON **Charity Number** 1126373 **Registered Office** 821 OLD KENT ROAD LONDON London SE15 1NX **Independent Examiner** SA Accountancy Practice Equitable House Suit 202, 7 General Gordon Square London SE18 6FH
## **THE REDEEMED ASSEMBLIES TRUST**
## **CONTENTS**
FOR THE YEAR ENDED 30 APRIL 2025
Trustees' Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
## **THE REDEEMED ASSEMBLIES TRUST**
## **TRUSTEES' REPORT**
## FOR THE YEAR ENDED 30 APRIL 2025
The trustees present their annual report and financial statements for the year ended 30 April 2025.
## **Trustees' report and financial statements**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trustees present their report with the unaudited financial statements of the charity for the year ended 30 April 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1126373
Principal Office
821 Old Kent Road London
SE15 1NX
Trustees
The following Trustees served during the year:
S. IYI
- L. OHONYON
- S. OKUNDAYE
O. OMORUYI
V. EZANI
Key Management Personnel
Trustee OSAGIE OMORUYI
Trustee LINDA OHONYON
Trustee NIAMKEY AMAN
Trustee VICTOR EZANI
Trustee PASTOR SUNDAY
Chair SANDRA OKUNDAYE
Accountants
SA ACCOUNTANCY PRACTICE
Equitable House
10 Woolwich New Road London
## SE18 6AB
## Bankers
Barclays Bank PLC & Santander UK 104-108 Tower Bridge Rd, London , SE1 3NG
## OBJECTIVES AND ACTIVITIES
The charity is governed by a constitution signed and approved by the trustees of the church
Page 1 of 11
The main activity of the organisation is to extend the Gospel of the Lord Jesus Christ to the communities, having fellowship with one another for edification and supporting the emotional and physical needs of its members and the wider community.
Our fellowships transcend across the borders of United Kingdom to the uttermost parts of the world. Other activities include:
a) relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress;
b) provide support to families to eliminate food poverty and essentials through her Foodbank and Food Redistribution Unit.
c) provide Community residents with employment coaching and support.
d) provide Community residents food banks, and daily breakfast throughout the year 2023
e) provide temporary shelters for homeless people
f) provide music classes for youth and fitness club
## ACHIEVEMENTS AND PERFORMANCE
The organisation, through distribution of tracts, group & individual virtual evangelism has continued to propagate the gospel throughout the communities in spite of increasing cost of living.
As a religious registered charity, numbered 1126373, our core has been to reach, teach and advance the Christian faith and help the local community with a focus on unemployment, homelessness, anti-social behaviour, fighting hunger/ food poverty and reducing waste.
Weekly in our Board meetings, crafting better ways to enhance the lives of our local community takes the centre stage, hence the need to set up Care Group Centres. Our care group centres is an online community that helps to look out for residents in need, by having care group leaders who do everything possible to scout for those that require help and assistance. They are added to the groups platform where we are then able to reach and touch them. Weekly, there are study sessions which gives us in depth awareness into most of the challenges they go through. And we can categorically say that a lot have benefitted from our counselling sessions. And our welfare scheme which is a vital part of the Care Group centres cater to the physical needs of residents.
Certainly, we know that most times when people experience counselling and platforms are not created to ensure they become active in responsibility groups they could slide into very dangerous habits because of exposure to bad company. So, the Redeemed Assemblies Trust also created the Service Teams System. Here, we created an avenue whereby all those with certain skill/s or giftings could make very productive use of them like singing, acting, playing the instruments, maintenance, ushering, sound etc. They are able to connect with those of same expertise. And we can boldly say that over the years, so many have been well trained while a lot have served and are still serving in those service teams.
Even though we know we may not be able to completely solve the shelter issues of most residents, we have really done so much in terms of providing Temporary Shelters for most residents that have taken advantage of our Care Groups Platforms. There would have been no way we would have peace in our heart knowing that there are still people who are unprotected from the biting cold. To a very large extent, we can say that we have maintained a very strong commitment to a vital aspect of our objectives which is to provide temporary homes for the homeless.
Our foodbank was awarded the Winner of ‘The London Faith & Belief Community Awards 2022.’ Winner Certificate was awarded for services to and for faith and belief communities in Greater London
The church, The Redeemed Assemblies Trust was also awarded Southwark Faith & Belief Awards 2022 Runner Up. Awarded in recognition for outstanding work serving the residents of Southwark.
The church, The Redeemed Assemblies Trust was also awarded Southwark Faith & Belief Awards 2024 RECOGNISED presented to the breakfast club of The Redeemed Assemblies Trust for outstanding work serving the residents of the community
The church, The Redeemed Assemblies Trust was also awarded Southwark Faith & Belief Awards 2024 Winner “Cost of Living Crisis Support”. Awarded in recognition for outstanding work serving the residents of Southwark.
Over the recent period, according to report/record on ‘foodiverse’, our community impact shows that we have provided the community with 1,230,337.0 (over a million) meals equivalent, through 511,354.0kg (over 511 tons) of collected food saving 1,490,684.0kg of CO2
Page 2 of 11
During this financial year, there was an increase in the supply of our food bank, including deliveries. Over £370,000 worth of food, essentials and other support given to the community members. There were other foreign missions’ projects some including Benue Community Water Project in Nigeria, Onwubiko in Ivory Coast Mission, among other projects.
There was no change of trustees of The Redeemed Assemblies Trust during this period. All necessary administrative activities to support change of trustees were completed, submitted and documented.
The Men's, Women's, Youth and Children ministries marked their respective yearly anniversaries by organising forums to discuss various issues related to men, women, youth, children and family relationships. These programmes also attracted a lot of participants and helped resolve a lot of domestic issues. The church also organised marriage seminars to help married couples in and out of church community. Though this year was challenging, by the grace of God we were still able to reach many with the help of technology and we are looking forward to operating differently when we go in person with the experience gained during this difficult time.
## PLANS FOR FUTURE PERIODS
The Redeemed Assemblies Trust is always committed to focusing on our established vision until we have achieved our mission. Our acclaimed purpose has really propelled us to stick to the visions as spelt out as follows;
1)Open more branches in the UK.
- 2) Continue to affect the local community in a positive way.
- 3) Continue to offer support in cash and in kind to the needy.
- 4) Pioneer a music school to involve the youth in our community.
- 5) To set up coffee morning to engage the elderly in our community
## STRUCTURE, GOVERNANCE AND MANAGEMENT
It is our hope and prayer that through our dedication and hard work, the Lord will bless and help us to achieve our purpose. The organisation’s commitment to maintaining a positive momentum over the coming years is to offer excellent value for money. We also want to continue to develop a healthy and attractive relationship with our members and the entire community.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Charity Act 1993 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the trustees are required to:
Signed on behalf of the charity's trustees
S. IYI
Trustee Chair
30 April 2025
## **Trustees**
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
SANDRA OKUNDAYE AMAN VICTOR EZANI NIAMKEY OMORUYI OSAGIE Apostle Sunday Iyi
Page 3 of 11
## LINDA OHONYON
## **Trustees' responsibilities statement**
The trustees, who are also the directors of Charity For The Redeemed Assemblies Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law 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, including the income and expenditure, of the charitable company for that year.
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;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate 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 Companies Act 2006. 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.
This report was approved by the trustees and signed on its behalf by:
------------------------------------------------------------------------
**Apostle Sunday Iyi Chair**
## Date : **01 December 2025**
Page 4 of 11
## **THE REDEEMED ASSEMBLIES TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## FOR THE YEAR ENDED 30 APRIL 2025
Independent Examiner’s Report to the Trustees of The Redeemed Assemblies Trust
I report to the Charity Trustees on my examination of the accounts of the charity for the year ended 30 April 2025 which consists of the statement of financial activities,balance sheet and the related notes
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act')
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of AIA
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
- I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Name: **Mark Essandoh**
for and on behalf of **SA Accountancy Practice**
Date: **21 April 2025**
Page 5 of 11
## **THE REDEEMED ASSEMBLIES TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
FOR THE YEAR ENDED 30 APRIL 2025
|**Recommended categories**
**by activity**|**Notes**|**Unrestricted funds**
**£**|**Total Funds 2025**
**£**|**Total Funds 2024**
**£**|
|---|---|---|---|---|
|**Income and endowments**|||||
|**from:**|||||
|Donations and legacies|2|1,436,781.70|1,436,781.70|866,103.56|
|Charitable activities|3|597,207.75|597,207.75|336,567.83|
|Other|4|(6,522.03)|(6,522.03)|-|
|**Total**||**2,027,467.42**|**2,027,467.42**|**1,202,671.39**|
|**Expenditure on:**|||||
|Raising funds|5|310,333.54|310,333.54|282,092.72|
|Charitable activities|6|1,458,124.62|1,458,124.62|826,240.90|
|Other|8|11,041.00|11,041.00|8,287.00|
|**Total**||**1,779,499.16**|**1,779,499.16**|**1,116,620.61**|
|Net income||247,968.26|247,968.26|86,050.78|
|**Net movement in funds**||**247,968.26**|**247,968.26**|**86,050.78**|
|**Reconciliation of funds:**|||||
|Total funds brought forward||375,199.64|375,199.64|289,148.86|
|**Total funds carried forward**||**623,167.90**|**623,167.90**|**375,199.64**|
Page 6 of 11
## **THE REDEEMED ASSEMBLIES TRUST**
## **BALANCE SHEET**
FOR THE YEAR ENDED 30 APRIL 2025
|**Recommended**
**categories by activity**|**Notes**|**Unrestricted funds**
**£**|**Total Funds 2025**
**£**|**Total Funds 2024**
**£**|
|---|---|---|---|---|
|Fixed assets|||||
|Tangible assets|9|216,760.00|216,760.00|181,506.00|
|**Total fixed assets**||**216,760.00**|**216,760.00**|**181,506.00**|
|Current assets|||||
|Debtors|10|770.96|770.96|-|
|Cash at bank and in hand|11|34,225.02|34,225.02|79,401.43|
|**Total current assets**||**34,995.98**|**34,995.98**|**79,401.43**|
|Creditors: amounts falling
due within one year|12|(10,554.98)|(10,554.98)|18,963.50|
|**Net current**
**assets/(liabilities)**||**45,550.96**|**45,550.96**|**60,437.93**|
|**Total assets less current**
**liabilities**||**262,310.96**|**262,310.96**|**241,943.93**|
|Creditors: amounts falling
due after one year|13|14,342.70|14,342.70|-|
|**Total net assets**||**247,968.26**|**247,968.26**|**241,943.93**|
|**Funds of the Charity**|||||
|Unrestricted funds|14|623,167.90|623,167.90|375,199.64|
|Restricted income funds|14||-|-|
|Endowment funds|14||-|-|
|**Total funds**||**623,167.90**|**623,167.90**|**375,199.64**|
For the year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 01 December 2025 and signed on its behalf by:
**Apostle Sunday Iyi Chair**
Date : **01 December 2025**
Page 7 of 11
## **THE REDEEMED ASSEMBLIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
FOR THE YEAR ENDED 30 APRIL 2025
## **1. Accounting Policies**
The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.
## **1.1 Basis of preparation**
These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.
These accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
These accounts are presented in pounds sterling and rounded to the nearest pound.
## **1.2 Going concern**
The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.
## **2. Income from Donations and Legacies**
|**Analysis**
**Unrestricted funds**
**£**
Donation and gifts
5,735.72
Gift Aid
262,354.15
Other
7,846.30
Tithes & Oferings
1,160,845.53
**Total**
**1,436,781.70**
**3. Income from Charitable Activities**
**Analysis**
**Unrestricted funds**
**£**
Food Bank Donations in Kind
597,207.75
**Total**
**597,207.75**
**4. Other Income**
**Analysis**
Gain on disposal of a tangible fxed asset held for charitys
own use
Other
**Total**|**Total funds 2025**
**£**
5,735.72
262,354.15
7,846.30
1,160,845.53
**1,436,781.70**
**Total funds 2025**
**£**
597,207.75
**597,207.75**
**Unrestricted funds**
**£**
(13,264.53)
6,742.50
**(6,522.03)**|**Total funds 2024**
**£**
-
224,348.28
2,000.00
639,755.28|
|---|---|---|
|||**866,103.56**|
|||**Total funds 2024**
**£**
336,567.83|
|||**336,567.83**|
|||**Total funds 2025**
**£**
(13,264.53)
6,742.50|
|||**(6,522.03)**|
Page 8 of 11
## **5. Expenditure on Raising Funds**
|**Analysis**
**Unrestricted funds**
**£**
Rent collection, property repairs
and maintenance charges
20,589.76
Departmental Expenses
7,139.33
**Total**
**27,729.09**
Support Costs
282,604.46
**310,333.54**
**6. Expenditure on Charitable Activities**
**Analysis**
**Unrestricted funds**
**£**
Mission
339,512.88
Charity running cost
3,867.95
Printing and stationery
-
Legal/professional fees
30,489.37
Rent-Premises Costs
87,953.08
Community Outreach Expenses
49,985.17
Food Bank Donations in Kind
597,207.75
Travelling Cost
63,270.15
Light, Heat & Power
3,233.81
**Total**
**1,175,520.16**
Support Costs
282,604.46
**1,458,124.62**
**7. Support Costs**
**Analysis**
**Support Costs**
Wages and salaries
Advertising and marketing
Repairs & Maintenance
Fuel Expenses
Legal & Professional Cost
Telephone, Mobile & Internet
Medical Bills-Staf Welfare
Pension Expenses
Temporary Staf & Recruitment
Staf Training
Staf Welfare
Insurance
PAYE Taxes
Honorarium Payments||**Total funds 2025**
**£**
20,589.76
7,139.33
**27,729.09**
282,604.46
**310,333.54**
**Total funds 2025**
**£**
339,512.88
3,867.95
-
30,489.37
87,953.08
49,985.17
597,207.75
63,270.15
3,233.81
**1,175,520.16**
282,604.46
**1,458,124.62**
**Total funds 2025**
**£**
292,217.03
10,754.79
16,821.21
1,172.60
151,079.67
1,147.72
-
7,645.04
-
33,570.00
-
2,943.67
45,052.18
2,805.00|**Total funds 2024**
**£**
-
19,332.06
**19,332.06**
262,760.66|
|---|---|---|---|
||||**282,092.72**|
||||**Total funds 2024**
**£**
38,363.96
-
1,053.66
38,749.15
68,748.47
53,495.73
333,580.95
21,887.81
7,600.51
**563,480.24**
262,760.66|
||||**826,240.90**|
||||**Total funds 2024**
**£**
190,609.72
-
46,992.54
463.21
69,725.18
970.84
159.20
4,532.80
10,770.00
19,792.08
153,981.34
3,550.82
21,147.08
2,826.50|
|||**565,208.91**
**525,521.31**||
Page 9 of 11
## **8. Other Expenditure**
|**8. Other Expenditure**|**8. Other Expenditure**|**8. Other Expenditure**|||
|---|---|---|---|---|
|**Analysis**
**Unrestricted funds**
**Total funds 2025**
**£**
**£**
Depreciation Charge for the Year -
Plant & Machinery
1,782.00
1,782.00
Depreciation Charge for the Year -
Motor Vehicles
9,259.00
9,259.00
**Total**
**11,041.00**
**11,041.00**
**9. Tangible Fixed Assets**
**Freehold Land &**
**Buildings**
**Plant &**
**Machinery**
**£**
**£**
**9.1 Cost or valuation**
At 01 May 2024
179,724.00
41,433.00
Additions
-
-
Disposals
-
-
Revaluations
-
-
Transfers
-
-
At 30 April 2025
**179,724.00**
**41,433.00**
**9.2 Depreciation and impairments**
At 01 May 2024
-
39,651.00
Charge for the year
-
1,782.00
Disposals
-
-
Revaluations
-
-
Transfers
-
-
At 30 April 2025
**-**
**41,433.00**
**9.3 Net book value**
At 01 May 2024
179,724.00
1,782.00
At 30 April 2025
**179,724.00**
**-**
**10. Debtors: Amounts falling due within one year**
Trade debtors
**Total**
**11. Cash at bank and in hand**
**Total funds 2025**
**£**
Cash at bank and in hand
34,225.02
**Total**
**34,225.02**||||**Total funds 2024**
**£**
8,287.00
-|
|||||**8,287.00**|
|||||**Motor Vehicles**
**£**
-
46,295.00
-
-
-
**46,295.00**
-
9,259.00
-
-
-
**9,259.00**
-
**37,036.00**
**Total funds 2025**
**£**
770.96|
||**179,724.00**|**41,433.00**|||
||-
-
-
-
-|39,651.00
1,782.00
-
-
-|||
||**-**|**41,433.00**|||
||179,724.00|1,782.00|||
||**179,724.00**||**-**||
||||||
|||||**770.96**|
|||||**Total funds 2024**
**£**
79,401.43|
|||||**79,401.43**|
Page 10 of 11
## **12. Creditors: Amounts falling due within one year**
|||||**Total funds 2025**|**Total funds 2024**|**Total funds 2024**|
|---|---|---|---|---|---|---|
|||||**£**||**£**|
|Bank loans and overdrafts||||(10,554.98)||18,963.50|
|**Total**||||**(10,554.98)**||**18,963.50**|
|**13. Creditors: Amounts falling due after one year**||**13. Creditors: Amounts falling due after one year**|||||
||||||**Total funds 2025**|**Total funds 2025**|
|||||||**£**|
|Taxation and social security||||||6,519.20|
|Other creditors||||||7,823.50|
|**Total**||||||**14,342.70**|
|**14. Charity funds**|||||||
|**14.1 Details of material funds held and movements during the CURRENT reporting period**|||**14.1 Details of material funds held and movements during the CURRENT reporting period**||||
||**Fund**|||||**Fund**|
|**Fund names**|**balances**
**brought**|**Income**|**Expenditure**|**Transfers**|**Gains and**
**losses**|**balances**
**carried**|
||**forward**|||||**forward**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted**|||||||
|**funds**|||||||
||**375,199.64**|**2,027,467.42**|**1,779,499.16**|**-**|**-**|**623,167.90**|
|**14.2 Details of material funds held and movements during the PREVIOUS reporting**|||**14.2 Details of material funds held and movements during the PREVIOUS reporting**||||
|**period**|||||||
||**Fund**|||||**Fund**|
|**Fund names**|**balances**
**brought**|**Income**|**Expenditure**|**Transfers**|**Gains and**
**losses**|**balances**
**carried**|
||**forward**|||||**forward**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted**|||||||
|**funds**|||||||
||**289,148.86**|**1,202,671.39**|**1,116,620.61**|**-**|**-**|**375,199.64**|
Page 11 of 11