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 **----- Start of picture text -----**
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THE REDEEMED CHRISTIAN CHURCH OF GOD
CHRIST'S LOVE ASSEMBLY
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## CONTENTS **----- Start of picture text -----**
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| 3 ## 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. **----- Start of picture text -----**
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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 - Theand anyprincipalcharitableobjectpurposeis the advancementat the discretionof Christianof the trusteesfaith worldwidefor the benefit and theof reliefthe community.of poverty,To achieve its objectives, the church adopted the following strategies: e Running seminars in the church with proven ministers of faith to guide members in the various aspect of Christian faith. - e Support for other charities and Christian events e Providing overseas aid and faminerelief and e Involving in economic and community development The activities for achieving its objectives include: - e Community outreach events - e Conferences and events - ¢ Welfare support to members and public and e Various missionary activities ## 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. 5 ## SL ## 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. | **----- Start of picture text -----**
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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: - e Select suitable accounting policies and then apply them consistently. e Observe the methods and principles in the Charities SORP. ¢ 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 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 **----- Start of picture text -----**
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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. **----- Start of picture text -----**
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. 9 THE REDEEMED CHRISTIAN CHURCH OF GOD = CHRIST’S LOVE ASSEMBLY BALANCE SHEET AS AT 31 DECEMBER 2021 **----- Start of picture text -----**
|||||||||| |---|---|---|---|---|---|---|---|---| |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| **----- End of picture text -----**
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 **----- Start of picture text -----**
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2023 andsigned on their behalf by: Dr F C Tolani Trustee 10 | ## 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| 11 | 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| 12 | 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| 13 ## 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. 14 ## 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| | **----- Start of picture text -----**
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