# **REDEEMED CHRISTIAN CHURCH OF GOD (THE ANCHOR FOR ALL SOULS)** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** **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 2024. 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 19 Upland Rd, Bexleyheath DA7 4NR. ## **Review of financial position** Please refer to the annexed account for the details of the Financial Statements for the year ended 31 December 2024 **.** **4** ## **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; - 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 - 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: 04/05/2025 5 **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 2024, which are set out on pages 9 to 12. ## _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: - examine the accounts (under section 43(3) (a) of the 1993 Act); - 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 - 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 - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - 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|214,407
—
—
214,407
193,331
59,425
—
—
59,425
48,797
2
—
—
2
10| ||**273,835**
**—**
**—**
**273,835**
**242,139**
354,085
—
—
354,085
209,455| ||**354,085**
**—**
**—**
**354,085**
**209,455**
—
—
—
—
—| ||**(80,250)**
**—**
**—**
**(80,250)**
**32,683**
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—| ||**(80,250)**
**—**
**—**
**(80,250)**
**32,683**| ||**185,861**
**—**
**—**
**185,861**
**153,177**| ||**105,610**
**—**
**—**
**105,610**
**185,861**
33,807
—
—
33,807
114,058
2,152
—
—
2,152
2,152
62,097
—
—
62,097
62,097
526
—
—
526
526
7,027
—
—
7,027
7,027| ## **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**|33,970
33,970
15,473
14,471
2,631
181
(9,179)
(4,179)
(12,372)
(2,372)
(181)
(181)| ||**30,342**
**41,890**
34,665
4,665
9,841
6,669
30,762
154,636
—
—
—
—| ||**75,268**
**165,970**| _Page 9_ |**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**|—
22,000| |---|---| ||**—**
**22,000**| ||**105,610**
**185,861 **| ||(80,250)
117,098
185,861
68,762| ||**105,610**
**185,861**
33,807
114,058
71,803
71,803
—
—
—
—| ||**105,610**
**185,861**| ## **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 -
**Totals**
**Current assets - Debtors**
Prepaid expenses -
**Totals**
**Liabilities - Creditors: Amounts falling due in**
**one year**
Accounts Payable -
**Totals**
**Grand total**|33,970
—
—
—
33,970
33,970
15,473
—
—
—
15,473
14,471
2,631
—
—
—
2,631
181
(9,179)
—
—
—
(9,179)
(4,179)
(12,372)
—
—
—
(12,372)
(2,372)
(181)
—
—
—
(181)
(181)| ||**30,342**
**—**
**—**
**—**
**30,342**
**41,890**
(2,331)
12,172
—
—
9,841
6,669
(28,868)
59,630
—
—
30,762
154,636| ||**(31,199)**
**71,803**
**—**
**—**
**40,603**
**161,305**
34,665
—
—
—
34,665
4,665| ||**34,665**
**—**
**—**
**—**
**34,665**
**4,665**
—
—
—
—
—
22,000| ||**—**
**—**
**—**
**—**
**—**
**22,000**| ||**33,807**
**71,803**
**—**
**—**
**105,610**
**185,861**| ## **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|2,152
—
—
—
—
2,152| ||**2,152**
**—**
**—**
**—**
**—**
**2,152**
526
—
—
—
—
526| ||**526**
**—**
**—**
**—**
**—**
**526**
7,027
—
—
—
—
7,027| ||**7,027**
**—**
**—**
**—**
**—**
**7,027**
114,058
273,835
354,085
—
—
33,807| _Page 10_ |**Sub-total for General**
**ZReval - Revaluation reserves**
Designated
**Sub-total for ZReval**
**Grand total**|**114,058**
**273,835**
**354,085**
**—**
**—**
**33,807**
62,097
—
—
—
—
62,097| |---|---| ||**62,097**
**—**
**—**
**—**
**—**
**62,097**| ||**185,861**
**273,835**
**354,085**
**—**
**—**
**105,610**| ## **Analysis of income and expenditure** |**Total**
**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
101 - Tithe
161,546
—
—
—
161,546
151,707
102 - Offering
27,944
—
—
—
27,944
27,063
103 - Bible Studies
—
—
—
—
—
—
104 - Altar of Solution
—
—
—
—
—
—
105 - Thanksgiving
7,799
—
—
—
7,799
5,928
106 - Donations
—
—
—
—
—
—
112 - Seed Faith
2,817
—
—
—
2,817
8,506
113 - Nehemiah (Building Fund)
14,300
—
—
—
14,300
125
116 - Other Donations
—
—
—
—
—
—
118 - First Fruit
—
—
—
—
—
—
120 - Isaac Seed
—
—
—
—
—
—
Total
214,407
—
—
—
214,407
193,331
**Income from charitable activities**
107 - Special Events
4,626
—
—
—
4,626
4,314
108 - Fruitful Partners
700
—
—
—
700
2,240
109 - Book Stall
—
—
—
—
—
—
110 - Easter Sacrificial Giving
—
—
—
—
—
—
114 - September2Remember
3,060
—
—
—
3,060
343
115 - Gift Aid
51,039
—
—
—
51,039
41,900
117 - Conference
—
—
—
—
—
—
119 - Hall Hire
—
—
—
—
—
—
Total
59,425
—
—
—
59,425
48,797
**Other trading activities**
111 - Interest
2
—
—
—
2
10
Total
2
—
—
—
2
10|**Total**
**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
101 - Tithe
161,546
—
—
—
161,546
151,707
102 - Offering
27,944
—
—
—
27,944
27,063
103 - Bible Studies
—
—
—
—
—
—
104 - Altar of Solution
—
—
—
—
—
—
105 - Thanksgiving
7,799
—
—
—
7,799
5,928
106 - Donations
—
—
—
—
—
—
112 - Seed Faith
2,817
—
—
—
2,817
8,506
113 - Nehemiah (Building Fund)
14,300
—
—
—
14,300
125
116 - Other Donations
—
—
—
—
—
—
118 - First Fruit
—
—
—
—
—
—
120 - Isaac Seed
—
—
—
—
—
—
Total
214,407
—
—
—
214,407
193,331
**Income from charitable activities**
107 - Special Events
4,626
—
—
—
4,626
4,314
108 - Fruitful Partners
700
—
—
—
700
2,240
109 - Book Stall
—
—
—
—
—
—
110 - Easter Sacrificial Giving
—
—
—
—
—
—
114 - September2Remember
3,060
—
—
—
3,060
343
115 - Gift Aid
51,039
—
—
—
51,039
41,900
117 - Conference
—
—
—
—
—
—
119 - Hall Hire
—
—
—
—
—
—
Total
59,425
—
—
—
59,425
48,797
**Other trading activities**
111 - Interest
2
—
—
—
2
10
Total
2
—
—
—
2
10| |---|---| ||214,407
—
—
—
214,407
193,331
4,626
—
—
—
4,626
4,314
700
—
—
—
700
2,240
—
—
—
—
—
—
—
—
—
—
—
—
3,060
—
—
—
3,060
343
51,039
—
—
—
51,039
41,900
—
—
—
—
—
—
—
—
—
—
—
—| ||59,425
—
—
—
59,425
48,797
2
—
—
—
2
10| ||2
—
—
—
2
10| |**INCOME TOTAL**|273,835
—
—
—
273,835
242,139| ## **EXPENDITURE** ## **Expenditure on charitable activities** |211|- Refreshments|7,081|—|—|—|7,081|907| |---|---|---|---|---|---|---|---| |213|- Youth Church|7,215|—|—|—|7,215|3,228| |214|- Training|1,644|—|—|—|1,644|1,631| |216|- Salary|45,191|—|—|—|45,191|50,792| _Page 11_ |217 - Instrumentalist
218 - Fuel
219 - Insurance
220 - Telephone
221 - Internet
222 - Rent
225 - Repairs & Maintenance
226 - WEM
227 - Cental office Support
228 - Thanksgiving - 70%
229 - Thanksgiving - 10%
231 - FOL Partnership
232 - Misc Expenses
233 - Gifts
234 - Business Rate
235 - Gas & Electricity
239 - First Fruit
240 - Legal/Professional Fee
241 - Bank Charges
244 - Website Development
246 - Training Manual
248 - Stationery
249 - Ministry Support
250 - PDQ Terminal / Charges
253 - Sustenance
254 - Travel Allowance
255 - Ministers Gift
256 - Childrens Church
257 - Members Support
259 - Pastors Allowance
261 - Building Project/Maintenance
263 - HMRC Deductions
264 - Honorarium
265 - Charge Card Expenses
266 - Choir's Misc Expenses
267 - Outreach
268 - Building Insurance
269 - Depreciation - Computer
270 - Depreciation - Sounds
271 - Depreciation - F&F
272 - Depreciation - Other Assets
274 - Subscription
276 - Charity Donation
277 - Waste Disposal
279 - Workers Conference
280 - Holy Communion
281 - Summer Kids CLub
282 - Womens Conference
283 - September to Rem
284 - Progromme
Total|52,540
—
—
—
52,540
53,820
—
—
—
—
—
—
685
—
—
—
685
649
829
—
—
—
829
1,029
1,256
—
—
—
1,256
—
120,102
—
—
—
120,102
36,961
7,916
—
—
—
7,916
293
12,000
—
—
—
12,000
12,000
4,100
—
—
—
4,100
3,600
329
—
—
—
329
—
—
—
—
—
—
—
300
—
—
—
300
325
935
—
—
—
935
2,288
11,239
—
—
—
11,239
8,413
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
19,605
—
—
—
19,605
—
336
—
—
—
336
365
—
—
—
—
—
—
—
—
—
—
—
—
17,712
—
—
—
17,712
1,144
3,150
—
—
—
3,150
6,384
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
5,212
5,323
—
—
—
5,323
8,129
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1,200
7,890
—
—
—
7,890
4,750
—
—
—
—
—
—
3,343
—
—
—
3,343
3,491
3,969
—
—
—
3,969
1,283
—
—
—
—
—
—
12,000
—
—
—
12,000
—
5,000
—
—
—
5,000
—
—
—
—
—
—
—
—
—
—
—
—
—
682
—
—
—
682
—
1,584
—
—
—
1,584
1,552
—
—
—
—
—
—
—
—
—
—
—
—
124
—
—
—
124
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—| |---|---| ||354,085
—
—
—
354,085
209,455| |**EXPENDITURE TOTAL**|354,085
—
—
—
354,085
209,455| ||| |**GRAND TOTAL**|(80,250)
—
—
—
(80,250)
32,683| This report dated: 10/05/2025 _Page 12_