## 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:
- Running seminars in the church with proven ministers of faith to guide members in the various aspect of Christian faith.
- Support for other 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
## 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:
- Select suitable accounting policies and then apply them consistently.
- 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 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:
- Examine the accounts under section 145 of Charities Act 2011;
- Follow the procedures laid down in the general directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
- 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 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:
- (1) Which gives me reasonable cause to believe that in any materials respect the trustees have not met the requirement to ensure that:
- Proper accounting records are kept (in accordance with section 41 of the Act); and
- 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.
## 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
- (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.
|**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