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2022-12-31-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 2022

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THE REDEEMED CHRISTIAN CHURCH OF GOD

CHRIST’S LOVE ASSEMBLY

CONTENTS

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Reference and administrative details ofthe charity 3
Trustees’ report 4-7
Independent examiner’s report 8
Statement offinancial activities 9
Balance sheet 10
Notestothefinancialstatements 11-15

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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 2022

Trustees DrFoyekeC Tolani
MrTomO Samuel
MrAyodeleOkuyemi
: MsAdeolaAkintoye
CharityregistrationNumber 1127783
Principal Office 1 Rylands
Old Marston
Oxford
OX3 oSX
Pastorincharge DrPatrickOTolani
Accountants Toda Consult
19,York Road,
Northfleet,
Kent.
DA11 9PU
Bankers LloydsBank
Carfax
Oxford

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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022. 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 of Trustees 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 2022

OBJECTS AND ACTIVITIES The principal object is the advancement of Christian faith worldwide and the relief of poverty, and any charitable purpose at the discretion of the trustees for the benefit of the community. To achieve its objectives, the church adopted the following strategies:

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 ofboth 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 2022

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 2022
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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 ofthe state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

;

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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
i responsible for safeguarding the assets of the company and hence taking reasonable steps
y tor prevention and detection of fraud and other irregularities.
2 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 nd4|P/ 2023 and signed on their behalf by:
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: Dr. F € Tolani Mr. Tom O Samuel
: Trustee Trustee
@
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY INDEPENTDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD, CHRIST’S LOVE ASSEMBLY

T report on the accounts of the charity ofthe year ended 31 December 2022 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:

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 of the 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

He Otudare Ligbola

Toda Consult

abl —Io23

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2022 2022 2q
Unrestricted Restricted T
Notes Funds Funds Total Funds Fu
£ £ £
INCOMING RESOURCES
Incoming resourcesfromgeneratedfunds:
Donations,legacies&similarincomingresources		 2 62,520 - 62,520 41.
Otherincome 3 60 - 60 7.4
TOTALINCOMINGRESOURCES 62,580 - 62,580 48
RESOURCES EXPENDED
Grants payable- institutional 4 5,500 - 5,500 Pe
Costofactivities infurtherance ofcharities objects 5 39,646 - 39,646 44,
Managementandgovernance costs 6 17,787 - 17,787 17,
TOTALRESOURCESEXPENDED 62,933 - 62,933 65,
NetIncoming/(outgoing)resourcesforyear (353) = (353) (16,4
Totalfundsatthestartoftheyear 166,533 166,533 183
Balance atend ofyear 166,180 - 166,180 166,

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 2022

2022 BOBS
Notes £ £
£		 Ek
. FIXEDASSETS
Tangible Fixed Assets 5 17,209 20,939
17,200 20,939
CURRENTASSETS
Debtors 8 23,000 23,000
Cash at bankand in hand 9 Pema 323,593.
i 149,971 146,593
CREDITORS: amount fallingduewithin
i onevear © (1,000) (1,000)
: NETCURRENTASSETS
YOTALASSETS LESSCURRENT
LIABILITIES		 ooBABO71,
166,180		 enn ESO,
ed S532
CHARITYFUNDS
: Restrictedfunds 14 - -
Unrestrictedfunds 14 166,180 cnt 5,522.
TOTALFUNDS 166,180 od O532
:
;		 Theaccountshavebeenprepared inaccordancewith thespecialprovision ofStatement ofRecommended
Practice: Accountingand ReportingbyCharities (SORP)issuedMarch2005asmodifies forsmaller
charities
i
ApprovedbytheTrustees on 2023 andsignedon theirbehalfby:

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Dr FC 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 2022

  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 tothe cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

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||||||| |---|---|---|---|---|---| |Musical equipment|-|25%|reducing balance| |Furniture|and|fittings|-|25%|reducing balance| |Computer equipment|-|25%|reducing balance| |Motor Vehicles|-|25%|reducing balance|

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(d) Unrestricted funds are incoming resources received/receivable for the objects of the charity (e) withoutRestricted further funds specifiedare subject purpose to restrictions and are availableon their expenditure as general funds.imposed by their donors.

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||||||||| |---|---|---|---|---|---|---|---| |Restricted|Unrestricted|Total|Total| |Funds|Funds|Funds’|Funds| |2022|2022|2022|2021| |2.|DONATIONS, LEGACIES AND| |SIMILAR INCOMING RESOURCES|£|£|£|£| |Collection|at|all|services|-|51,589|51,589|41,222| |Gift Aid|claim|-|10,931|10,931|-| |Total|-|62,520|62,520|41,222|

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY FOR NOTES TO ACCOUNTS THE YEAR ENDED 31 DECEMBER 2022

3.OTHERINCOME
Grant		 Restricted
Funds
2022
£		 Unrestricted
Funds
2022
£		 Total
Funds
2022
£		 Total
Funds
2021
£
Bank Interest - - - 7,280
: - 60 60 14
-
60
60
529
7294
4. GRANTS PAYABLE-
INSTITUTIONAL
Charitablegiving—-UK		 Note
£
4.1
-		 £
5,500		 £
5,500		 £
2,750
z
5,500
5,500
OO		 2,750
2750
4.1LISTOFINSTITUTIONSGRANTS
PAYABLE		 GRANTS £ £ £ £
RCCG-WEM
RCCG-CentralOffice
Festival ofLife
Others		 -WorldEvangelism
-WorldEvangelism		 -
-
-
-		 3,600
1,800
100
-		 3,600
1,800
100		 1,000
550
200
- 1,000
=
—————		 5,500
»500
00		 2,750
2,750

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

FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2022 2022 2021
£ £ £ £
Restricted Unrestricted Total Total
Funds Funds Funds Funds
5. COSTOFACTIVITIES IN
FURTHERANCE OF £ £ £ £
CHARITY'S OBJECTS
Visiting speakers’ expenses - 750 750 1,150
Travel and subsistence - 2,162 2,162 2,667
Telephone&internet - 2,475 2,475 546
Hall hire, rent& rates - 8,540 8,540 -
Premises repairs and
maintenance - 2,021 2,021 19,219
Welfare & hospitality - 8,538 8,538 3,566
Printing, postage, and stationery . 902 902 486
Admin expenses - 2,325 2,325 3,739
Vehicle running expenses - 2,147 2,147 1,358
Sunday School - 620 620 263
Subscription - 60 60 223
Music&liturgy - 2,702 2,702 767
Depreciation - 5,736 5,736 8,942
Insurance - 178 178 158
Bank&finance charges - 312 312 238
IT, website expenses - 48 48 1,527
Publicity - 130 130 42
= 39,646 39,646 44,890
6.MANAGEMENT AND GOVERNANCE
COSTS £ £ £ £
Volunteers’ costs - 15,600 15,600 15,600
Pension - 103 103 478
Book-keepingand payroll
services - 1,084 1,084 705
Accountancy fees - 1,000 1,000 1,000
= 17,7871) )473787 17,783

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THE REDEEMED CHRISTIAN CHURCH OF GOD — CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. TANGIBLE FIXED ASSETS

Computers
Musical
equipment		 &
projectors		 Motor
Vehicle		 Total
Es £ £ £
Cost
At 1January 2022 45,734 9,295 14,352 69,381
: Additions 2,005 - - 2,005
At 31 Dec2022 47,739 9,295 14,352 71,386
Depreciation
At 1January2022 24,794 9,295 14,352 48,441
Charge forthe year 5,736 - 5,736
At 31 Dec2022 30,530 9,295 14,352 54,176
Net BookValue
At 31 Dec2022 17,209 - - 17,209
At 31 December 2021 20,939 - - 20,939
8.DEBTORS 2022 2021
£ £
Charitydebtors 23,000 23,000
23,000 23,000
9.CASHBALANCES 2022 2021
£ £
Cash in Bank& inhand atyearend 126,971 123,593
126,971 123,593

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 2022

10.CREDITORS: AMOUNTS FALLINGDUEWITHINONEYEAR 2022 2021
£ £
Accrual: accountancy fees 1,000 1,000
1,000 1,000

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 averagenumber ofemployees duringtheyearwas as follows: 2022 2021
No. No.
Pastoral 1 1
Charity administration 1 1
Total 2 2

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

13. NET INCOMING RESOURCES/ (RESOURCES EXPENDED)

This is stated after charging 2022 2021
£ £
Depreciation oftangible assets 5,736 8,944
Accountant'sfees 1,000 1,000
14.FUNDS Unrestricted Restricted Total Total
Funds Funds Funds Funds
2022 2022 2022 2021
£ £ £ £
At 1 January2022 166,533 - 166,533 183,440
Surplus/(Deficit) fortheyear (353) - (353) (16,908)
At31December2022 166,180 - 166,180 166532

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