THE REDEEMED CHRISTIAN CHURCH OF GOD City of Praise Charity Registration No 1127435 the year ended 30th June, 2023 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## Contents Reference and administrative details for the year ended 30 June, 2023 ........................................... 2 Trustees’ Report for The Year Ended 30 June 2023 ............................................................................ 3 Trustees’ Report Cont’d. ..................................................................................................................... 4 Independent Examiner’s Report for Year Ended 30 June 2023 .......................................................... 5 Statement of Financial Activities ........................................................................................................ 6 Balance Sheet as at 30[th] June, 2023 .................................................................................................... 7 Notes to the Accounts ........................................................................................................................ 8 Notes to the Accounts Cont’d ............................................................................................................. 9 Notes to the accounts cont’d ............................................................................................................ 10 RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 1 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Reference and administrative details for the year ended 30 June, 2023** _**GENERAL OVERSEER Pastor E.A Adeboye**_ Trustees Pastor Rufus Aizeboje Pastor Oladipo Lawal Pastor Adebayo Olabisi Charity Registration Number 1127435 Principal Office St Paul’s Peel Community Hall Manchester Road West Little Hulton Manchester (Correspondences to: 20 Wallbrook Crescent, Little Hulton, Manchester, M38 9EE). _**Pastor in charge Pastor Olatunde Olagunju**_ Independent Examiner Akintayo Ojo FCCA 46 Hollywood Way Erith, DA8 2QE Bankers NATWEST Bank BARCLAYS Bank 121 Market Street Farnworth 1 Market Street, Bolton BL4 8EY. BL1 1BU. RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 2 ## The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Trustees’ Report for The Year Ended 30 June 2023** The Trustees submit their annual report and the Financial Statements of the Redeemed Christian Church of God (RCCG) CITY OF PRAISE (The charity) for the Year ended 30 June 2023. The Trustees confirm that the Annual Report and the Financial Statements of the Charity comply with the current statutory requirements of the Charity’s governing documents and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 The charity also trades under the name CITY OF PRAISE **STATUS:** The Charity was constituted under a Trust Deed dated 1[st] July 2008 and is registered in England and Wales with Charity number 1127435. **APPOINTMENT OR ELECTION OF TRUSTEES: T** rustees are elected and or appointed under the terms of the Trust Deed. **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES:** The induction process for a newly appointed member of the Board of Trustees comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Pastor in charge on the powers and responsibilities of the Trustees. **ORGANISATIONAL STRUCTURE AND DECISION MAKING:** The Charity is organised so that the Trustees meet regularly to manage its affairs. The Parish pastor manages the day-to-day administration of the Charity. **RELATED PARTY RELATIONSHIPS: R** _CCG (CITY OF PRAISE)_ is a Parish of the Redeemed Christian Church of God (which has parishes all over the world). The parish’s relationship with other parishes is governed by an “Agreement of Common Purposes” **POST COVID-19 RECOVERY:** The Trustees are delighted to see a rapid recovery from the consequences of COVID-19 pandemic. This has reflected in both physical attendance at services as well as donations. Despite return to normal physical services, the Church has continued to improve on its online broadcasts. **OBJECTS AND ACTIVITIES:** The principal object is the advancement of the Christian faith worldwide and the relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve its objectives, the Church adopted the following strategies: - Running seminars in the Church with proven ministers of the faith to guide members in the various aspects of Christian faith - Support for the charities and Christian events, - Providing overseas aid and famine relief, and - Involving in Economic and Community Development The activities for achieving its objectives include: - Community outreach events - Conferences and events - Welfare support to members and public, and - Various missionary activities **GRANT MAKING POLICY: The** Church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes. The Church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The Church also give occasional grants to congregational members who are in need. **VOLUNTEERS:** The Church is grateful to the unflinching efforts of its volunteers who are involved in providing services for the Charity. It is estimated that over 2,480 hours are provided by volunteers during the year. If this is conservatively valued at £10.42 per hour, the volunteer’s effort will amount to £25,842. **REVIEW OF ACTIVITIES:** The Church continue to enjoy tremendous 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. Following the COVID-19 imposed lockdown in mid-March, 2023, the Church has been conducting its activities virtually. We strongly believe that the rapid response of the Church to ensure continuous touch with the Community through the WORD and essential food supplies has paid off significantly. We have invested into Broadcasting Equipment and Technology as well as other Safety materials to achieve this. RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 3 ## The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Trustees’ Report Cont’d.** **INVESTMENT POLICY: The** trustees have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts. **FUNDING AND REBATES:** Funding has been provided mainly through Tithes and Offerings by Church members and through Gift Aid. Donations are also accepted for special programmes and projects. During the year, the Charity received a total of **£30,372** in external funding. **£26,156** from **Salford City Council/HAF** to support _**Holiday Activities**_ Project, and **£4,216** from **HMRC** as Employer’s National Insurance Contribution rebate. **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. ## **STATEMENTS OF TRUSTEES’ RESPONSIBILITIES** The Trustees are responsible for preparing the Annual Report and Financial Statements in accordance with applicable laws and regulations. Charity law requires the trustees to prepare Financial Statements for each Financial Year. Under that law the trustees have elected to prepare the Financial Statements in accordance with the United Kingdom generally accepted accounting practice (United Kingdom Accounting Standards and applicable law). The Financial Statements are required to give a true and fair view of the state of affairs 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: - Make judgement and estimates that are reasonable and prudent: - 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 Charity 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 10[th] April, 2024 and signed on their behalf by: Trustee RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 4 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Independent Examiner’s Report for Year Ended 30 June 2023** ## **TO: THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) CITY OF PRAISE.** I report on the accounts of the Charity for the Year ended 30 June 2023 which is set out on pages 8-12 ## **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 145(1) of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to: - Examine the accounts (under section 145(1) (a) of the 2011 Act; - Follow the procedures laid down in the general directions given by the Charity Commissioners and - State whether 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 Commissioners. 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 I do not express an audit opinion on the view given by the accounts. ## **EXAMINER’S STATEMENT** In connection with my examination, no matter has come to my attention to give me reasonable cause to believe that in any material respect the requirements: - To keep accounting records in accordance with the requirement of Section 130 of the Charities Act 2011; and - To prepare accounts which accord with the accounting records and to comply with the Accounting requirements of the Charities act 2011 have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. SIGNED Akintayo Ojo FCCA 46 Hollywood Way Erith DA8 2QE DATE: RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 5 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Statement of Financial Activities** **----- Start of picture text -----**
Notes 2023 2022
£ £
Incoming Resources:
Voluntary Donations 2 153,917 108,480
Gift Aid 3a 19,368 18,632
Other Funding and Rebate 3b 30,372 9,744
Interest 782 74
Total 204,439 136,930
Resources Expended
Charitable Expenditure
Grants Payable-Institutional 5 12,303 12,617
Cost of Activities in furtherance of Charity's objects 6 97,440 48,497
Governance Costs 7 47,787 49,881
Total Resources Expended 157,530 110,995
Net Incoming/(Outgoing) Resources 46,910 25,935
Total Funds at the Beginning of the Year 148,295 122,360
Balance at the end of the Year 195,205 148,295
**----- End of picture text -----**
RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 6 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Balance Sheet as at 30[th] June, 2023** **----- Start of picture text -----**
Notes 2023 2022
Fixed Assets: £ £
Tangible Assets 8 46,233 33,165
Current Assets:
Bank and Cash Balances 9 148,164 104,151
Other Receivables 4 10,130 22,642
158,294 126,793
Total Assets 204,527 159,958
Less Liabilities:
Amount Due within 1 Year 10 9,322 11,664
Net Assets 195,205 148,294
Charity Funds:
General Unrestricted 195,205 148,294
Total Funds 195,205 148,294
**----- End of picture text -----**
The Accounts have been prepared in accordance with special provision of Statement of Recommended Practice: Accounting and reporting by Charities (SORP) issued in March 2007 as modified for smaller Charities Approved by the Trustees on: 10[th] April, 2024. and Signed on their behalf by: RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 7 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Notes to the Accounts** **Note 1 Accounting Policies** - **a** The Accounts have been prepared under the Historical Cost Convention in accordance with applicable Accounting Standards. They follow Best Practices as stated out in the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued in March, 2007 as modified for small Charities. - b) Income is accounted for on Actual Receipt Basis while Expenditures are recorded on Accrual Basis. - We recognise Gift Aids due from HMRC based on the credibility of the source. - c) Fixed Assets: Comprise of Motor Vehicles, Musical Equipment, Office Equipment and Furniture items, and are stated at Cost Less Depreciation - d) Depreciation is provided at rates calculated to write off the cost of the assets (less expected disposal value) over expected useful lives. The following rates apply: |apply:|| |---|---| |Motor Vehicles:
Computer and Office Equipment:
Musical Equipment|-25%
-25%
-25%| |Funiture & Fittings|-25%| - e) Donation Classification and Appropriation: We capture donations through Bank statements and in service cash collections. Classification of online donations might not be totally correct because many donors do not specify donation category. However, we use the Ushers' records to account for collections for the purpose of Thanksgiving collections appropriation. Note 2 Donations, Legacies and Similar Incoming Resources |Tithes
Offering
Thanksgiving
Building & Other project support
Total Voluntary donations*
Note 3a
Gift Aid
Note 3b Other Fundings & Rebate
HMRC NI Rebate
Salford City Council (HAF/Comm Projects)
Note 4
Receivables
Gift Aid
Others|**£**
48,107
29,660
16,200
59,950|2023
**£**
**153,917**
**19,368**
4,216
26,156
**30,372**
2,761
7,369
**10,130**|2022
**£**
**108,480**| |---|---|---|---| ||||| ||||**18,632**| ||||4,200
5,544
-| ||||**9,744**| ||||11,828
10,814| ||||**22,642**| RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 8 The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Notes to the Accounts Cont’d** |Note 5
**Grants Payable-Institutional**
World Evangelical Mission (WEM)
Central Office Funding
Note 6
**Cost of Activities in Furtherance of Charity**
External Speakers Expenses/Honorarium
Training Seminars and Conferences
Travel and Subsistence
Rent, rates and Licences
Welfare Expenses
Telephone and Communication
Motor Vehicle Expenses
Insurance
Depreciation
**Hospitality**
Repair and Maintenance
Printing & Stationery
Funded Community Project costs
**Note 7**
**Management and Governance Costs**
Administrative Salaries
Legal and Professional fees
Independent Examiner's fee|2023
**£**
11,703
600
**12,303**
**Objects**
14,336
3,383
9,713
9,455
15,726
1,748
3,518
3,258
8,291
15,237
3,935
3,478
5,361
**97,440**
42,600
4,837
350
**47,787**|2022
**£**
12,017
600
**12,617**
5,946
3,196
5,002
5,630
8,423
811
1,582
2,647
5,216
7,255
2,790
-
-
**48,498**
45,161
4,370
350
**49,881**| |---|---|---| RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 9 ## The Redeemed Christian Church of God - City of Praise. Reports for the year ended 30[th] June, 2023 ## **Notes to the accounts cont’d** |**Note 8**
**Fixed Assets**
**Building***
**Motor**
**Vehicles**
**Musical**
**Equipment**
**£**
**£**
**Cost**
At 30 June 2022
17,142
34,134
Additions
8,897
9,000
Disposals
**At 30 June 2023**
**8,897**
**26,142**
**34,134**
-
**Depreciation**
At 30 June 2022
0
4,433
20,782
Charged for the year
0
3,177
3,338
Disposals
0
**At 30 June 2023**
**-**
**7,610**
**24,120**
Net Book Value
0
**As at 30 June 2022**
**-**
**12,709**
**13,352**
**As at 30 June 2023**
**8,897**
**18,532**
**10,014**
**_*Building- Professional charges in view of building acquisition_**
**30 June,**
**2023**
**30 June, 2022**
**Note 9**
**Bank Balances**
**£**
**£**
NatWest Bank
145,381
100,030
Barclays
2,783
4,120
**148,164**
**104,150**
**Note**
**10**
**Creditors & Accruals**
Remittances & Allowances Due
8,622
10,614
Other Accrued
Expenses
700
1,050
**9,322**
**11,664**|**Computer**
**and Other**
**Equipment**
**£**
12,504
463
**12,967**
9,791
678
**10,469**
**2,713**
**2,497**|**Furniture**
**&**
**Fittings**
**£**
18,981
3,000| |---|---|---| |||**21,981**| |||14,590
1,098| |||**15,688**| |||**4,391**| |||**6,293**| |||| RCCG City of Praise: Reports and Accounts for the year ended 30[th] June, 2023 | 10