REDEEMED CHRISTIAN CHURCH OF GOD (THE ANCHOR FOR ALL SOULS)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
COMPANY NUMBER: 06629239
CHARITY NUMBER: 1128753
REDEEMED CHRISTIAN CHURCH OF GOD (THE ANCHOR FOR ALL SOULS)
TRUSTEES: MR OLAYINKA ADENIRAN
MR BABAJIDE ANJORIN MR OLABISI ODESANYA
COMPANY REG NO.: 06629239
BANKERS: LLOYDS TSB
15 BLACKHEATH VILLAGE LONDON SE3 9LH
BARCLAYS WOOLWICH LONDON SE5 0NN
ACCOUNTANT: OPEN BOOKS CONSULTANCY LTD
(CHARTERED CERTIFIED ACCOUNTANTS) 4 COLEMAN ROAD BELVEDERE
DA17 5AN
REDEEMED CHRISTIAN CHURCH OF GOD (THE ANCHOR FOR ALL SOULS)
TABLE OF CONTENTS
1) TRUSTEES REPORT
2) EXAMINERS REPORT
3) BALANCE SHEET
4) INCOME AND EXPENDITURE ACCOUNT
5) NOTES TO THE ACCOUNT
REDEEMED CHRISTIAN CHURCH OF GOD (THE ANCHOR FOR ALL SOULS)
TRUSTEES' REPORT
The Trustees present their report together with the accounts for the period ended 31 December 2020. The accounts have been prepared in accordance with the Statement of Recommended Practice and applicable law.
Objectives of the Charity, Principal Activities and Organisation of our work
Redeemed Christian Church of God (The Anchor for All Souls) is a company limited by guarantee and not having a share capital. The objectives of the charity are:-
a) to advance the Christian religion for the public benefit in accordance with the doctrines of our Lord Jesus Christ, through the holding of prayer meetings, lectures, evangelism, distributing of literature and tracts, broadcasting and such charitable means as the trustees consider appropriate; and
b) the relief of poverty by such charitable means as the trustees consider appropriate.
The principal activities of the church are Christian worship, Christian outreach program to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man, spiritually, mentally and physically. We have a number of volunteers who assist in helping us achieve our objectives.
Development, Activities and Achievements in the period
Redeemed Christian Church of God (The Anchor for All Souls) continues to grow and support the new parishes it recently planted. The church ministers to the needs of various social groups within and outside the church. It also provides forum for manpower development for its members to be equipped, educationally, socially and spiritually. It offers various counselling sessions to the needy, unemployed, and educational and makes referral when ever the need arises.
Redeemed Christian Church of God (The Anchor for All Souls) services are held at its leased facility at Unit 37 The I 0 Centre, Armstrong Road, London SE18 6RS.
Review of financial position
Please refer to the annexed account for the details of the Financial Statements for the year ended 31 December 2020 .
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REDEEMED CHRISTIAN CHURCH OF GOD (THE ANCHOR FOR ALL SOULS)
TRUSTEES' REPORT (CONTINUED)
Statement of Trustees' Responsibilities
The Charities Act 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 surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are requested to:
-
Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
• State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees
The members of the trustees during the year were
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Mr Olayinka Adeniran
-
Mr Babajide Anjorin
-
Mr Olabisi Odesanya
Approval
This report was approved by the board of trustees on the and signed on its behalf by:
MR OLAYINKA ADENIRAN
DATE: 20/09/2021
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Independent Examiner's Report to the Trustees of "Redeemed Christian Church of God (The Anchor for All Souls)"
I report on the accounts of the Charity for the period ended 31 December 2019, which are set out on pages 07 to 11.
Respective responsibilities of trustees and 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 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 43(3) (a) of the 1993 Act);
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to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7) (b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent 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 material respect, the requirements
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
Page 7
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Adeyemi Adegbola FCCA
Page 8
• Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year funds funds funds funds total funds |
|
|---|---|
| Income and endowments from: Donations and legacies Income from charitable activities Other trading activities Total income Expenditure on: Expenditure on charitable activities Total expenditure Gains / losses on investment assets Net income / (expenditure) resources before transfer Transfers Gross transfers between funds – in Gross transfers between funds – out Other recognised gains / losses Gains on revaluation, fixed assets, charity's own use Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Designated Offering Revaluation reserves Thanksgiving Tithe |
135,801 — — 135,801 177,837 73,034 — — 73,034 44,200 1 — — 1 15 |
| 208,837 — — 208,837 222,052 174,674 — — 174,674 240,901 |
|
| 174,674 — — 174,674 240,901 — — — — — |
|
| 34,163 — — 34,163 (18,848) — — — — — — — — — — — — — — — |
|
| 34,163 — — 34,163 (18,848) |
|
| 69,822 — — 69,822 88,671 |
|
| 103,985 — — 103,985 69,822 32,182 — — 32,182 (1,980) 2,152 — — 2,152 2,152 62,097 — — 62,097 62,097 526 — — 526 526 7,027 — — 7,027 7,027 |
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Balance sheet
| Class and code Description |
This year Last year |
|---|---|
| Fixed assets 301 Sound Equipment 303 Computer Equipment 304 Fixtures and Fittings 306 Depreciation – Sounds 308 Depreciation – Computer 309 Depreciation - F&F Total Fixed assets Current assets 401 Prepaid expenses 402 Lloyds Account – Main 403 Barclays 404 Lloyds Account – Worldpay Z05 Accounts Receivable Total Current assets Liabilities Z04 Accounts Payable Total Liabilities Net Asset surplus(deficit) Reserves Excess / (deficit) to date Z01 Starting balances Total Reserves Represented by funds Unrestricted Designated Restricted Endowment Total |
20,898 20,898 8,703 7,116 181 181 (4,179) — (2,372) — (181) — |
| 23,049 28,196 3,165 3,165 40,494 4,128 9,547 24,262 27,729 1,459 — 3,068 |
|
| 80,935 36,083 — (5,543) |
|
| — (5,543) |
|
| 103,985 69,822 |
|
| 34,163 1,060 69,822 68,762 |
|
| 103,985 69,822 32,182 (1,980) 71,803 71,803 — — — — |
|
| 103,985 69,822 |
Page 10
Statement of assets and liabilities
| General Designated Restricted Endowment This year Last year |
|
|---|---|
| Fixed assets - Tangible assets Sound Equipment - Computer Equipment - Fixtures and Fittings - Depreciation - Sounds - Depreciation - Computer - Depreciation - F&F - Totals Current assets - Cash at bank and in hand Lloyds Account - Main - Barclays - Lloyds Account - Worldpay - Totals Current assets - Debtors Prepaid expenses - Accounts Receivable - Totals Liabilities - Creditors: Amounts falling due in one year Accounts Payable - Totals Grand total |
20,898 — — — 20,898 20,898 8,703 — — — 8,703 7,116 181 — — — 181 181 (4,179) — — — (4,179) — (2,372) — — — (2,372) — (181) — — — (181) — |
| 23,049 — — — 23,049 28,196 28,321 12,172 — — 40,494 4,128 (50,083) 59,630 — — 9,547 24,262 27,729 — — — 27,729 1,459 |
|
| 5,967 71,803 — — 77,770 29,850 3,165 — — — 3,165 3,165 — — — — — 3,068 |
|
| 3,165 — — — 3,165 6,233 — — — — — (5,543) |
|
| — — — — — (5,543) |
|
| 32,182 71,803 — — 103,985 69,822 |
Fund movement by type
| Opening Incoming Outgoing Transfers Gains/losses Closing |
|
|---|---|
| Offering - Offering Designated Sub-total for Offering Thanks - Thanksgiving Designated Sub-total for Thanks Tithe - Tithe Designated Sub-total for Tithe General - General fund Unrestricted Sub-total for General ZReval - Revaluation reserves Designated Sub-total for ZReval Grand total |
2,152 — — — — 2,152 |
| 2,152 — — — — 2,152 526 — — — — 526 |
|
| 526 — — — — 526 7,027 — — — — 7,027 |
|
| 7,027 — — — — 7,027 (1,980) 208,837 174,674 — — 32,182 |
|
| (1,980) 208,837 174,674 — — 32,182 62,097 — — — — 62,097 |
|
| 62,097 — — — — 62,097 |
|
| 69,822 208,837 174,674 — — 103,985 |
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Analysis of income and expenditure
| Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies 101 – Tithe 103,889 — — — 103,889 122,691 102 - Offering 17,827 — — — 17,827 30,218 103 - Bible Studies 954 — — — 954 100 104 - Altar of Solution 153 — — — 153 — 105 - Thanksgiving 4,646 — — — 4,646 12,104 106 - Donations — — — — — 1,052 112 - Seed Faith 8,410 — — — 8,410 1,100 113 - Nehemiah (Building Fund) — — — — — 4,046 116 - Other Donations (80) — — — (80) 6,425 118 - First Fruit — — — — — 100 120 - Isaac Seed — — — — — — Total 135,801 — — — 135,801 177,837 Income from charitable activities 107 - Special Events 3,524 — — — 3,524 2,595 108 - Fruitful Partners 8,141 — — — 8,141 3,595 109 - Book Stall — — — — — — 110 - Easter Sacrificial Giving — — — — — — 114 - September2Remember 6,690 — — — 6,690 (5,248) 115 - Gift Aid 54,427 — — — 54,427 43,257 117 - Conference 251 — — — 251 — 119 - Hall Hire — — — — — — Total 73,034 — — — 73,034 44,200 Other trading activities 111 - Interest 1 — — — 1 15 Total 1 — — — 1 15 |
Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies 101 – Tithe 103,889 — — — 103,889 122,691 102 - Offering 17,827 — — — 17,827 30,218 103 - Bible Studies 954 — — — 954 100 104 - Altar of Solution 153 — — — 153 — 105 - Thanksgiving 4,646 — — — 4,646 12,104 106 - Donations — — — — — 1,052 112 - Seed Faith 8,410 — — — 8,410 1,100 113 - Nehemiah (Building Fund) — — — — — 4,046 116 - Other Donations (80) — — — (80) 6,425 118 - First Fruit — — — — — 100 120 - Isaac Seed — — — — — — Total 135,801 — — — 135,801 177,837 Income from charitable activities 107 - Special Events 3,524 — — — 3,524 2,595 108 - Fruitful Partners 8,141 — — — 8,141 3,595 109 - Book Stall — — — — — — 110 - Easter Sacrificial Giving — — — — — — 114 - September2Remember 6,690 — — — 6,690 (5,248) 115 - Gift Aid 54,427 — — — 54,427 43,257 117 - Conference 251 — — — 251 — 119 - Hall Hire — — — — — — Total 73,034 — — — 73,034 44,200 Other trading activities 111 - Interest 1 — — — 1 15 Total 1 — — — 1 15 |
|---|---|
| 135,801 — — — 135,801 177,837 3,524 — — — 3,524 2,595 8,141 — — — 8,141 3,595 — — — — — — — — — — — — 6,690 — — — 6,690 (5,248) 54,427 — — — 54,427 43,257 251 — — — 251 — — — — — — — |
|
| 73,034 — — — 73,034 44,200 1 — — — 1 15 |
|
| 1 — — — 1 15 |
|
| INCOME TOTAL | 208,837 — — — 208,837 222,052 |
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EXPENDITURE
| Expenditure on charitable activities 211 - Refreshments 467 — — — 467 5,346 213 - Youth Church 190 — — — 190 387 214 - Training 216 — — — 216 5,304 216 – Salary 41,460 — — — 41,460 39,748 217 - Instrumentalist 7,620 — — — 7,620 24,792 218 – Fuel — — — — — — 219 - Insurance 542 — — — 542 539 220 - Telephone 1,173 — — — 1,173 1,320 221 - Internet — — — — — — 222 – Rent 22,416 — — — 22,416 61,271 225 - Repairs & Maintenance — — — — — 135 226 – WEM 12,000 — — — 12,000 11,000 227 - Cental office Support 6,668 — — — 6,668 2,100 228 - Thanksgiving - 70% 3,530 — — — 3,530 2,603 229 - Thanksgiving - 10% — — — — — — 231 - FOL Partnership 300 — — — 300 300 232 - Misc Expenses 2,163 — — — 2,163 4,023 233 – Gifts 20,624 — — — 20,624 8,167 234 - Business Rate — — — — — — 235 - Gas & Electricity — — — — — — 239 - First Fruit — — — — — — 240 - Legal/Professional Fee 1,900 — — — 1,900 350 241 - Bank Charges 358 — — — 358 1,509 244 - Website Development — — — — — — 246 - Training Manual — — — — — — 248 - Stationery 498 — — — 498 1,517 249 - Ministry Support 676 — — — 676 150 250 - PDQ Terminal / Charges — — — — — — 253 - Sustenance — — — — — 120 254 - Travel Allowance — — — — — 17 255 - Ministers Gift — — — — — — 256 - Childrens Church 800 — — — 800 1,962 257 - Members Support 6,921 — — — 6,921 6,985 259 - Pastors Allowance 2,679 — — — 2,679 12,645 261 - Building Project/Maintenance — — — — — — 263 - HMRC Deductions 3,500 — — — 3,500 6,334 264 - Honorarium 2,805 — — — 2,805 4,969 265 - Charge Card Expenses — — — — — 16,916 266 - Choir's Misc Expenses 2,193 — — — 2,193 9,470 267 - Outreach 11,193 — — — 11,193 6,138 268 - Building Insurance — — — — — — 269 - Depreciation - Computer 2,372 — — — 2,372 — 270 - Depreciation - Sounds 4,179 — — — 4,179 — 271 - Depreciation - F&F 181 — — — 181 — 272 - Depreciation - Other Assets — — — — — — 274 - Subscription — — — — — — 276 - Charity Donation 2,907 — — — 2,907 3,090 277 - Waste Disposal — — — — — — 279 - Workers Conference 1,458 — — — 1,458 1,200 280 - Holy Communion — — — — — 481 281 - Summer Kids CLub — — — — — — 282 - Womens Conference — — — — — — 283 - September to Rem 7,816 — — — 7,816 — 284 - Progromme 2,860 — — — 2,860 — Total 174,674 — — — 174,674 240,901 |
Expenditure on charitable activities 211 - Refreshments 467 — — — 467 5,346 213 - Youth Church 190 — — — 190 387 214 - Training 216 — — — 216 5,304 216 – Salary 41,460 — — — 41,460 39,748 217 - Instrumentalist 7,620 — — — 7,620 24,792 218 – Fuel — — — — — — 219 - Insurance 542 — — — 542 539 220 - Telephone 1,173 — — — 1,173 1,320 221 - Internet — — — — — — 222 – Rent 22,416 — — — 22,416 61,271 225 - Repairs & Maintenance — — — — — 135 226 – WEM 12,000 — — — 12,000 11,000 227 - Cental office Support 6,668 — — — 6,668 2,100 228 - Thanksgiving - 70% 3,530 — — — 3,530 2,603 229 - Thanksgiving - 10% — — — — — — 231 - FOL Partnership 300 — — — 300 300 232 - Misc Expenses 2,163 — — — 2,163 4,023 233 – Gifts 20,624 — — — 20,624 8,167 234 - Business Rate — — — — — — 235 - Gas & Electricity — — — — — — 239 - First Fruit — — — — — — 240 - Legal/Professional Fee 1,900 — — — 1,900 350 241 - Bank Charges 358 — — — 358 1,509 244 - Website Development — — — — — — 246 - Training Manual — — — — — — 248 - Stationery 498 — — — 498 1,517 249 - Ministry Support 676 — — — 676 150 250 - PDQ Terminal / Charges — — — — — — 253 - Sustenance — — — — — 120 254 - Travel Allowance — — — — — 17 255 - Ministers Gift — — — — — — 256 - Childrens Church 800 — — — 800 1,962 257 - Members Support 6,921 — — — 6,921 6,985 259 - Pastors Allowance 2,679 — — — 2,679 12,645 261 - Building Project/Maintenance — — — — — — 263 - HMRC Deductions 3,500 — — — 3,500 6,334 264 - Honorarium 2,805 — — — 2,805 4,969 265 - Charge Card Expenses — — — — — 16,916 266 - Choir's Misc Expenses 2,193 — — — 2,193 9,470 267 - Outreach 11,193 — — — 11,193 6,138 268 - Building Insurance — — — — — — 269 - Depreciation - Computer 2,372 — — — 2,372 — 270 - Depreciation - Sounds 4,179 — — — 4,179 — 271 - Depreciation - F&F 181 — — — 181 — 272 - Depreciation - Other Assets — — — — — — 274 - Subscription — — — — — — 276 - Charity Donation 2,907 — — — 2,907 3,090 277 - Waste Disposal — — — — — — 279 - Workers Conference 1,458 — — — 1,458 1,200 280 - Holy Communion — — — — — 481 281 - Summer Kids CLub — — — — — — 282 - Womens Conference — — — — — — 283 - September to Rem 7,816 — — — 7,816 — 284 - Progromme 2,860 — — — 2,860 — Total 174,674 — — — 174,674 240,901 |
|---|---|
| 174,674 — — — 174,674 240,901 |
|
| EXPENDITURE TOTAL | 174,674 — — — 174,674 240,901 |
| GRAND TOTAL | 34,163 — — — 34,163 (18,848) |
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