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2021-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY

Charity reg. no 1127783

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

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THE REDEEMED CHRISTIAN CHURCH OF GOD
CHRIST'S LOVE ASSEMBLY
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CONTENTS

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Reference and administrative details of the charity }
Trustees’ report ‘7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11-15
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ORTIUT IN EE SOT LEE INS ENN ET DEEL OES LID EN A ES ON

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees Dr Foyeke CTolani
Mr Tom
O Samuel
Mr Ayodele Okuyemi
Ms Adeola Akintoye
Charity registration Number 1127783
Principal Office 1 Rylands
Old Marston
Oxford
OX3 oSX
Pastor in charge Dr Patrick O Tolani
Accountants Toda Consult
19, York Road,
Northfleet,
Kent.
DA11 9PU
Bankers Lloyds Bank
Carfax
Oxford

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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees submit their annual report and the financial statements of The Redeemed Christian Church of God Christ’s Love Assembly (the charity) for the year ended 31 December 2021. The trustees confirm that the annual report and financial statements 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 December 2005.

The charity also trades under the name Christ’s Love Assembly.

STATUS

The charity is constituted under a Trust Deed dated 16" November 2008 and is registered in England and Wales with charity number 1127783.

APPOINTMENT OF TRUSTEES

Trustees are appointed under the terms of the trust deed. The only change in the membership of the Board ofTrustees during the year under review was the resignation of Mr Omotayo A Owodunni.

POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEE’S The induction process for the newly appointed member of the board of trustee usually comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Parish Pastor on the powers and responsibilities of the trustees.

ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity is organized so that the trustees can meet regularly to manage its affairs. All major decisions are collectively taken by the trustees. The trustees are unpaid, and details of any related party transactions are disclosed as applicable in the notes to the account. The Parish Pastor manages the day-to-day administration of the church.

RELATED PARTY RELATONSHIPS

The Redeemed Christian Church of God Christ’s Love Assembly 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 for Common Purposes’.

RISK MANAGEMENT

The trustees have assessed the major risks to which the charity is exposed, those related to operations and finances of the charity and are satisfied that the systems are in place to mitigate our exposure to the major risks.

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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY

TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

OBJECTS AND ACTIVITIES

The activities for achieving its objectives include:

PUBLIC BENEFIT

The church’s Sunday and mid-week services are open to the public to build on their Christian faith.

Various programs and activities were due to be organised for women, men, the elderly, the youths/teenagers and children during the year and they would have involved participation of both members of the church and the local community. However, due to the Covid 19 pandemic, events were either cancelled, postponed, hybrid or totally occurred online.

We could not carry out any of our usual activities for the year. The ones we managed to do like the Oxford Power Conference, International Mother Language Day were done online.

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY

TRUSTEES’ REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021

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 programs. The church supports other charities and missionaries that share its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.

VOLUNTEERS

The church is grateful to the unstinting efforts of its volunteers who are involved in providing services for the charity.

REVIEW OF ACTIVITIES

The church continues 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. The church continues to progress in its search for a permanent place of worship.

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.

RESERVES POLICY

The trustees’ policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended which equals to roughly £16,000 to £32,000 in general funds. | The Trustees feel that this would enable the current activities to continue if there is a significant drop in funding. It would obviously be necessary to then consider how the funding would be replaced or activities changed. The trustees are continuing to seek additional unrestricted funds to build up its reserves.

PRINCIPAL FUNDING

Funding has been provided mainly through tithes and offerings by church members and through Gift Aid claims. Pledges are also taken for specific projects. Donations were received towards the church building project.

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.

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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The charity trustees are responsible for preparing the Trustees’ Annual Report and financial statement in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptable 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 ofthe charity for that period. In preparing these financial statements, the trustees are required to:

The trustees recognize 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 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 examined by and independent examiner, whose report is also appended.

Approved by the Trustees on the 2023 and signed on their behalf by:

Dr. F C Tolani Trustee

Mr. Tom O Samuel Trustee

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THE REDEEMED CHRISTIAN CHURCH OF GOD
CHRIST'S LOVE ASSEMBLY
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INDEPENTDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
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TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD, CHRIST'S LOVE ASSEMBLY

I report on the accounts ofthe charity of the year ended 31 December 2021 which is set out on the pages 9 to 15.

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 responsibilities to:

e Examine the accounts under section 145 of Charities Act 2011; e Follow the procedures laid down in the general directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and e State whether particular matters have come to my attention.

BASIS OF EXAMINER'S STATEMENT My examinations are 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 ofthe accounts presented with those records. It also includes consideration of an unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such manners. 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: (1) Which gives me reasonable cause to believe that in any materials respect the trustees have not met the requirement to ensure that: e Proper accounting records are kept (in accordance with section 41 of the Act); and e Accounts are prepared which agree with the accounting records and comply with the accounting requirements of Act; or (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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Mr Oludare Ligbola
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Toda Consult 8

THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST'S LOVE ASSEMBLY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2021 2021 2020
Notes Unrestricted
Funds		 _Restricted
Funds		 Total Funds Total
Funds
£ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds:
Donations, legacies& similar incoming resources 2 41,222 - 41,222 29,011
Otherincome 3 7,294 - 7,294 9,261
TOTAL INCOMING RESOURCES 48,517 - 48,517 38,272
RESOURCES EXPENDED
Grants payable- institutional 4 2,750 - 2,750 3,773
Cost ofactivities in furtherance ofcharities objects 5 44,892 - 44,892 22,676
Management and governance costs 6 17,783 - 17,783 17,565
TOTALRESOURCESEXPENDED 65,426 - 65,426 44,014
Net Incoming/(outgoing) resources foryear (16,909) - (16,909) (5,742)
Totalfunds at the startoftheyear 183,441 183,441 189,183
Balanceatendofyear 166,532 - 166,532 183,441

The charity’s incoming resources and resources expended all relate to continuing activities.

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THE REDEEMED CHRISTIAN CHURCH OF GOD = CHRIST’S LOVE ASSEMBLY BALANCE SHEET AS AT 31 DECEMBER 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |Notes|£|£|£|£| |FIXED|ASSETS| |Tangible|Fixed|Assets|7|20,939|1,440| |20,939|1,440| |CURRENT|ASSETS| |Debtors|8|23,000|32,500| |Cash|at|bank and|in|hand|9| 123,593||150,501| |146,593|183,001| |CREDITORS:|amount|falling|due|within| |one|year|10|(1,000)|(1,000)| |NET CURRENT ASSETS|145,593|||182,001| |TOTAL|ASSETS|LESS|CURRENT| |LIABILITIES|166,532|183,441| |CHARITY|FUNDS| |Restricted|funds|14|-|-| |Unrestricted|funds|14|166,532| 183,441| |TOTAL FUNDS|166,532|183,441|

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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 modifies for smaller charities.

Approved by the Trustees on

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2023 andsigned on their behalf by:

Dr F C Tolani

Trustee

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

  1. ACCOUNTING POLICIES

(a) The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards. They follow best practice set out 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 is accounted for on an accruals basis.

(c) Fixed assets comprise furniture and equipment and musical equipment and have been costing more than £300. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to the cost of fixed assets, less their 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 - 25% reducing balance

(d) Unrestricted funds are incoming resources received/receivable 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.

Restricted
Funds		 Unrestricted
Funds		 Total
Funds		 Total
Funds
2021 2021 2021 2020
2. DONATIONS, LEGACIESAND
SIMILAR INCOMING RESOURCES £ = £ £
Collection at all services - 41,222 41,222 29,011
Gift Aid claim - - = i
Total = 41,222 41,222 29,011

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Restricted Unrestricted Total Total
Funds Funds Funds Funds
2020 2021 2021 2020
3.OTHER INCOME £ £ £ £
Grant - 7,280 7,280 9,210
Bank Interest - 14 14 52
TREE 2,294 7:294 ' 9,261
Note
4. GRANTS PAYABLE-
INSTITUTIONAL £ £ £ £
Charitable giving - UK 4.1 - 2,750 2,750 3,773
=
-		 2,750 : 2,750 3773
4.1 LISTOF INSTITUTIONSGRANTS
PAYABLE £ £ £ £
RCCG-WEM - World Evangelism - 1,000 1,000 1,373
RCCG -Central Office -World Evangelism - 550 550 600
Festival of Life - 200 200 1,000
Others - 1,000 1,000 800
- 2,750 2,750 3,773

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2021 2021 2020
£ £ £ £
Restricted Unrestricted Total Total
Funds Funds Funds Funds
5. COSTOF ACTIVITIES IN
FURTHERANCE OF £ £ £ £
CHARITY'S OBJECTS
Visiting speakers’ expenses - 1,150 1,150 -
Seminar & conferences . - - 1,171
Travel and subsistence - 2,667 2,667 903
Telephone & internet - 546 546 639
Hall hire, rent & rates - - - 2,898
Premises repairs and
maintenance - 19,219 19,219 4,601
Welfare& hospitality - 3,566 3,566 2,435
Printing, postage, and stationery - 486 486 290
Admin expenses - 3,739 3,739 =
Vehicle running expenses - 1,358 1,358 1,961
Sunday School - 263 263 275
Subscription - 223 223 129
Music& liturgy - 767 767 1,389
Depreciation - 8,942 8,942 3,268
Insurance - 158 158 -
Bank& finance charges - 238 238 319
IT, website expenses - 1,527 1,527 1,764
PraiseGate expenses . - - 500
Publicity - 42 42 132
- 44,890 44,890 22,676
6. MANAGEMENTANDGOVERNANCE
COSTS £ £ £ £
Volunteers’ costs - 15,600 15,600 15,600
Pension - 478 478 376
Book-keepingand payroll
services		 = 705 705 589
Accountancy fees - 1,000 1,000 1,000
- 17,783 17,783 17,565

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7. TANGIBLE FIXED ASSETS

Computers Musical & Motor equipment projectors Vehicle Total £ E £ £ Cost At 1 January 2020 17,291 9,295 14,352 40,938 Additions BB iAAG Sie iet ei ae At 31 December 2021 SAB 784 a O05 oe 14 B62! 00,381Depreciation At 1 January 2020 16,562 8,585 14,352 39,498 Charge for the year Se eeegaed ir iin ot = PhO on ie ie te one earn ol At 31 December 2021 = — 4760 = GOR1498946 Al Net Book Value At 31 December 2021 20,941 - - 20,941 At 31 December 2020 729 710 - 1,440 8. CASH BALANCES 2021 2020 £ £ Cash in Bank & in hand at year end 123,593 150,501 9. DEBTORS 2021 2020 £ £ Other debit debit balances 23,000 32,500 23,000 32,500

Other debit debit balances

Charitable loans were granted to other charities operating in the United Kingdom and individual members of RCCG-CLA for charitable purposes.

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

10.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Accrual: accountancy fees 1,000 1,000

Accrual: accountancy fees

11.RELATED PARTY TRANSACTIONS

During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in note 4.1.

12. STAFF COST AND NUMBERS

The average number of employees during the year was as follows: 2021 2020 No. No. Pastoral 1 1 Charity administration 1 1 Total 2 2 is

No employee received remuneration amounting to more than £50,000 in the year.

13. NET INCOMING RESOURCES/ (RESOURCES EXPENDED)

This is stated aftercharging 2021 2020
£ £
Depreciation oftangible assets 8,944 3,268
Accountant's fees 1,000 1,000
14.FUNDS Unrestricted
Funds		 Restricted
Funds		 Total
Funds		 Total
Funds
2020 2020 2021 2020
£ £ £ £
At 1 January 2021 183,441 - 183,441 189,183
Surplus/(Deficit) for the year (16,909) - (16,909) (5,742)
Prioryear adjustment : = -
At31December2021 166,532 - 166,532 183,441

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