OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-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 2023

1

THE REDEEMED CHRISTIAN CHURCH OF GOD

CHRIST’S LOVE ASSEMBLY

CONTENTS

Reference and administrative details of the charity 3
Trustees’ report 4 – 7
Independent examiner’s report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 – 15

2

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 2023

Trustees Dr Foyeke C Tolani Mr Tom O Samuel Mr Ayodele Okuyemi Ms Adeola Akintoye Charity registration Number 1127783 Principal Office 1 Rylands Old Marston Oxford OX3 0SX 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 2023

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 2023. 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[th] 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. There were no changes in the membership of the Board of Trustees during the year under review.

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.

4

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY

TRUSTEES’ REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023

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 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

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY

TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

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.

6

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

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 of the 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 19/10/ 2024 and signed on their behalf by:

Dr. F C Tolani

Mr. Tom O Samuel

Dr. F C Tolani Trustee

Mr. Tom O Samuel Trustee

7

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST’S LOVE ASSEMBLY

INDEPENTDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

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

I report on the accounts of the charity of the year ended 31 December 2023 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 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:

Mr Oludare Agbola

OLUDARE AGBOLA. MAAT Toda Consult 19 York Road, Northfleet, DA11 9PU.

8

THE REDEEMED CHRISTIAN CHURCH OF GOD – CHRIST’S LOVE ASSEMBLY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
INCOMING RESOURCES
Incoming resources from generated funds:
Donations, legacies & similar incoming resources 2
Other income
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Grants payable
4
Cost of activities in furtherance of charities objects
5
Management and governance costs
6
TOTAL RESOURCES EXPENDED
Net Incoming /(outgoing) resources for year
Total funds at the start of the year
Balance at end of year
14		 2023
2023
2023
2022

Unrestricted
Funds
Restricted
Funds
Total Funds
Total
Funds
£
£
£
£
113,125
-
113,125
62,520
1,041
-
1,041
60
114,166
-
114,166
62,580
11,137
-
11,137
5,500
67,051
-
67,051
39,647
19,561
-
19,561
17,787
97,749
-
97,749
62,933
16,418
-
16,418
(353)
166,181
166,181
166,534
182,598
-
182,598
**166,180 **

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 2023

Notes
£
FIXED ASSETS
Tangible Fixed Assets
7
CURRENT ASSETS
Debtors and prepayments: 8
23,000
Cash at bank and in hand
9
137,151
160,151
CREDITORS:amount falling due within
one year
10
(1,000)
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CHARITY FUNDS
Restricted funds
14
Unrestricted funds
14
TOTAL FUNDS
£
23,000
137,151		 2023
£
23,448		 £


23,000
126,971		 2022
£
17,209
23,448



159,151		 17,209



148,971
149,971
(1,000)
182,598 166,180
-
182,598		 -
166,180
182,598 166,180

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 19/10/ 2024 and signed on their behalf by:

Dr. F C Tolani

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 2023

  1. ACCOUNTING POLICIES

  2. (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.

  3. (b) Income and expenditure is accounted for on an accruals basis.

  4. (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
2. DONATIONS, LAGACIES AND
SIMILAR INCOMING RESOURCES
Collection at all services
Gift Aid claims
Total		 Restricted
Funds
Unrestricted
Funds
Total
Fund
s
Total
Funds
2023
2023
2023
2022
£
£
£
£
-
113,125
113,125
51,589
-
-
-
10,931
-
113,125
113,125
62,520

11

THE REDEEMED CHRISTIAN CHURCH OF GOD – CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. OTHER INCOME
Bank Interest
4. GRANTS PAYABLE-
INSTITUTIONAL
Charitable giving - UK
Total
LIST OF INSTITUTIONS GRANTS
PAYABLE
RCCG- WEM World Evangelism
RCCG -COF Central Office
FOL and OMC
RCCG -Prov, Reg Contributions
Donations to other Charities		 Restricted
Funds
Unrestricted
Funds
Total
Funds
Total
Funds
2023
2023
2023
2022
£
£
£
£
-
1,041
1,041
60
-
1,041
1,041
60
£
£
£
£
-
11,137
11,137
5,500
-
11,137
11,137
5,500
£
£
£
£
-
3,600
3,600
3,600
-
1,100
1,100
1,800
-
1,480
1,480
100
-
2,650
2,650
-
-
2,307
2,307
-
-
11,137
11,137
5,500

12

THE REDEEMED CHRISTIAN CHURCH OF GOD – CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. COST OF ACTIVITIES IN
FURTHERANCE OF
CHARITY'S OBJECTS
Visiting speakers’ expenses
Praise Gate Worship cost & community project
Seminar & conferences
Travel and subsistence
Telephone & internet
Hall hire, rent & rates
Missions, training & evangelism
Premises maintenance
Youth expenses
Couples Night expenses
Christmas expenses
Welfare & hospitality
Printing, postage and stationery
Admin expenses
Vehicle running expenses
Music & media expenses
Depreciation
Insurance
Bank & finance charges
IT, website expenses
Publicity
6. MANAGEMENT AND GOVERNANCE
COSTS
Salaries
Volunteers and staff costs
Pension
PAYE, NI and payroll services
Accountancy fees		 2023
2023
2023
2022
Restricted
Funds
Unrestricted
Funds
Total
Funds
Total
Funds
£
£
£
£
-
1,750
1,750
750
-
5,189
5,189
-
-
750
750
-
-
6,246
6,246
2,162
-
2,629
2,629
2,475
-
12,477
12,477
8,540
-
550
550
620
-
660
660
2,021
-
768
768
-
-
1,206
1,206
-
-
1,199
1,199
-
-
16,223
16,223
8,538
-
905
905
902
-
1,158
1,158
2,385
-
3,720
3,720
2,147
-
1,867
1,867
2,702
-
7,816
7,816
5,736
-
178
178
178
-
367
367
312
-
1,393
1,393
48
-
-
-
130
-
67,051
67,051
39,647
£
£
£
£
-
12,000
12,000
12,000
3,600
6,185
3,600
-
376
376
102
-
2,585
1,000
1,084
-
1,000
1,000
1,000
-
19,561
20,561
17,787

13

THE REDEEMED CHRISTIAN CHURCH OF GOD – CHRIST’S LOVE ASSEMBLY NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

7. TANGIBLE FIXED ASSETS

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2023		 Musical
equipment
Computers
&
projectors
Motor
Vehicle
Total
£
£
£
£
47,739
9,295
14,352
71,386
8,714
5,340
-
14,054
56,453
14,635
14,352
85,440
30,530
9,295
14,352
54,176
6,481
1,335
-
7,816
37,010
10,630
14,352
61,992
19,443
4,005
-
23,448
17,209
-
-
17,209
8. DEBTORS
Members grants
9. CASH BALANCES
Cash in Bank & in hand at year end		 2023
2022
£
£
23,000
23,000
-
23,000
23,000
2023
2022
£
£
137,151
126,971
137,151
126,971

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 2023

10.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
10.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrual: accountancy fees		 2023
2022
£
£
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.

12. STAFF COST AND NUMBERS

The average number of employees during the year was as follows:
Pastoral
Charity administration
Total		 2023
2022
No.
No.
1
1
1
1
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
Depreciation of tangible assets
Accountant's fees
14. FUNDS
At 1 January
Surplus/(Deficit) for the year
At 31 December		 Unrestricted
Restricted
Funds
Funds
2023
2023
£
£
166,180
-
16,417
-		 2023
2022
£
£
7,816
5,736
1,000
1,000
Total
Total
Funds
Funds
2023
2022
£
£
166,180
166,533
16,417
(353)
182,598
-		 182,598
166,180

15