THE REDEEMED CHRISTIAN CHURCH OF GOD ADONAI AMBASSADORS ASSEMBLY
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
(Company Limited By Guarantee)
Company Reg. No: 06798958 Charity Reg. No: 1131076
THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY
| CONTENTS | |
|---|---|
| Charity Information | 1 |
| Trustees Annual Report | 2-4 |
| Independent Examiner Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to Accounts | 8-10 |
THE REDEEMED CHRISTIAN CHURCH OF GOD -ADONAI AMBASSADORS ASSEMBLY Charity Information
General Overseer
Pastor E. A. Adeboye
Directors/Trustees
Mr Christopher Okworu Mrs Adejumoke Agbenike Mr Emmanuel Adeyemi Akinyemi Mrs Funmilola A Oyeniran
Minister In Charge
Pastor David Akomolafe
Company Registration No: 06798958
Charity Registration No: 1131076
Principal Location 2A Ruckholt Road London E10 5NP
Bankers HSBC PLC 23 Denmark Hill Camberwell Green London SE5 8RP
Accountants
Enodel UK Limited 71-75 Shelton Street London Greater London United Kingdom WC2H 9JQ
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THE REDEEMED CHRISTIAN CHURCH OF GOD- ADONAI AMBASSADORS ASSEMBLY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2021
The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of GodAdonai Ambassadors Assembly (the church) for the year ended 31 January 2021. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.
Structure, governance and management
a. CONSTITUTION
The church was constituted under a company limited by guarantee under a memorandum and article of association incorporated 22 January 2009 and was registered on 19 August 2009 as a charity in England and Wales with charity number 1131076.
b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS/TRUSTEES
Directors/ Trustees are elected and co-opted under the terms of the Articles of Association.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.
d. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The church is organized so that the directors/ trustees meet regularly to manage its affairs. The trustees manage the day-to-day administration of the church.
e. RELATED PARTY RELATIONSHIPS
RCCG Adonai Ambassadors Assembly is a member of the Redeemed Christian Church of God (RCCG), which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.
f. RISK MANAGEMENT
The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.
Objectives and Activities
a. POLICIES AND OBJECTIVES
The objects of the Charity are:
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The advancement of the Christian faith worldwide; and
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The relief of poverty
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b. STRATEGIES FOR ACHIEVING OBJECTIVES
The church has adopted the following strategies for achieving the above objectives:
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Organizing seminars and conferences in the church with proven speakers and ministers of the faith to guide members in the various aspects of the Christian faith; and
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Support for other charities and Christian events.
c. ACTIVITIES FOR ACHIEVING OBJECTIVES
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Community Outreach Events
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Conferences and events
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Welfare support to members and general public, and
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Various missionary activities
The Charity was involved in the following public benefit efforts:
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The church apart from providing spiritual support for her members is actively socially engaged within her community.
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The church supports the PENNU charity, which is a charity that works with the elderly.
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The church also does food supply to the homeless shelter closest to her premises but stopped the supply at the height of the COVID-19 pandemic in accordance with the governmental regulations on social engagement.
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During the Christmas period, the church was involved in "The Christmas Lunch with Jesus" whereby needy families and vulnerable individuals within the community were provided with Christmas hampers and turkeys. A similar gesture will be repeated during the forthcoming Easter celebrations.
d. GRANT MAKING POLICIES
Under the Common Purposes Agreement (see above), RCCG-Adonai Ambassadors Assembly has agreed to make contributions to RCCG (UK). In addition, the church supports missionary organizations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.
e. VOLUNTEERS
The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 2,000 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteers' efforts amounts to over £20,000.
Achievements and performance
a. REVIEW OF ACTIVITIES
We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in the article.
b. INVESTMENT POLICY AND PERFORMANCE
The Trustees have decided that at present, funds should be retained in Banks and Building Societies. The board should agree any change in such banking arrangements. As far as possible, funds will be retained in interest bearing accounts.
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c. RESERVES POLICY
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level, which equates to approximately three months of unrestricted expenditure.
d. PRINCIPAL FUNDING
This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
e. FUTURE DEVELOPMENTS
The church 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.
- The major community project the church has before her is the extension of the present premises to be used as a children and youth centre. It will also serve as a meeting place for the Pennu charity for the elderly and will be made available for other community activities. The planning permission for the project has already been secured from the Havering Council.
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Trustees' Responsibilities in Relation to the Financial Statements
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.
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 required to:
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a) Select suitable accounting policies and apply them consistently;
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b) Make judgments and estimates that are reasonable and prudent;
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c) State whether applicable accounting standards and statements of recommended practice
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have been followed, subject to any departures disclosed and explained in the financial statements.
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d) Prepare the financial statements on the going concern basis unless it is inappropriate to
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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 1993. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature: Christopher Okworu
Name: Christopher Okworu
Date: 12 March 2021
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THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2021, which are set out on pages 6 to 10.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination and can confirm that no material matters have come to my attention, which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached
Olusiji Odeleye ACCA
Enodel UK Ltd 56 Briar Roads Romford Essex RM3 8AP
31 January 2021
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THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY Statement of Financial Activities for the year ended 31 JANUARY 2021
| Notes Incoming Resources Incoming resources from generated funds: Voluntary income: donations 2 Total Incoming Resources Resources Expended Charitable activities 3 Governance costs: 4 Total Resources expended 5 Net Incoming/(Outgoing) Resources for the year Total funds at 1 February 2020 Transfer between funds Total funds as at 31 January 2021 6 |
2021 Unrestricted Restricted Total £ £ £ 62,889 25,000 87,858 62,889 25,000 87,858 |
2020 Total £ 65,524 65,524 |
|---|---|---|
| 46,142 - 46,142 13,737 - 13,737 |
57,811 7,288 |
|
| 59,279 - 59,279 |
65,699 | |
| 3,609 25,000 28,609 |
(175) | |
| 129,072 - 129,072 - - - |
129,247 - |
|
| 132,681 25,000 157,681 |
129,072 |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
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THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY
Balance sheet as at 31 JANUARY 2021
| Notes FIXED ASSETS Tangible Fixed Assets 7 CURRENT ASSETS Debtors Cash in Hand/ Bank CREDITORS: Amount falling due within a year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amount falling due more than a year 9 NET ASSETS ACCUMULATED FUNDS Restricted Unrestricted TOTAL FUNDS 10 |
£ - 31,818 |
2021 £ 366,026 366,026 25,997 392,023 234,342 157,681 25,000 132,681 157,681 |
2020 £ 374,034 |
|---|---|---|---|
| 374,034 | |||
| - 1,481 |
|||
| 31,818 5,821 |
1,481 600 881 |
||
| 374,916 245,844 |
|||
| 129,072 | |||
| - 129,072 |
|||
| 129,072 |
a) For the year ending 31 January 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
b) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
c) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved by the Trustees and Signed on their behalf:
Signature: Christopher Okworu
Name: Christopher Okworu
Date: 12 March 2021
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THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY
Notes to the financial statements for the period ended 31 January 2021
ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes
Restricted funds are funds, which are to be used in accordance with specific restrictions imposed by donors, which have been raised by the Church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.3 Incoming resources
These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted-funds.
2. VOLUNTARY INCOME: DONATIONS
| Tithes & Offering Other Income Gift Aid Total |
Unrestricted funds £ 18,803 891 43,195 62,889 |
Restricted funds £ - 25,000 - 25,000 |
Total 2021 Total 2020 £ £ 18,803 56,533 25,891 11 43,195 8,979 87,889 65,524 |
|---|---|---|---|
3. CHARITABLE ACTIVITIES- (Direct charitable expenditure)
This comprises all expenditure directly related to the objects of the charity. It also includes the expenditure in support of that activity where material.
| Bank charges Provision for Doubtful Debt Central Office Children Dept. Church Plant Expenses Depreciation Donation- Other Charities Festival Of Life Financing Costs Insurance Light and heat Loan Interest Printing & Publicity Provincial Contribution Redeemers Bible College Rent & Rates Seminar & Conferences Office Admin Misc Expenses Women Dept Visiting speakers expenses Security Welfare, Donations, & Hospitality World Evangelical Mission |
Unrestricted funds £ 235 - 1,200 - - 8,008 - 545 7,254 848 1,156 - - - 400 6,566 - 2,082 2,571 - - 661 8,440 6,175 46,142 |
Page 10 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - |
Total 2021 Total 2020 £ £ 235 235 - 9,000 1,200 5,876 - 60 - 1,126 8,008 8,441 - 585 545 500 7,254 - 848 809 1,156 1,285 - 8,578 - 435 - 250 400 600 6,566 14,945 - 384 2,082 - 2,571 - - 20 - 1,182 661 - 8,440 3,500 6,175 - 46,142 57,811 |
|---|---|---|---|
4. GOVERNANCE COST
| GOVERNANCE COST | |||
|---|---|---|---|
| Legal & professional fees Property Consultancy Admin & Office expenses Accountancy Fees Subscriptions Total |
Unrestricted funds £ - 11,237 - 1,900 - 13,137 |
Restricted funds £ - - - - - - |
Total 2021 Total 2020 £ £ - 861 11,237 3,951 - 1,612 1,900 720 - 744 13,137 7,888 |
| RESOURCES EXPENDED | |||
| Charitable Activities Governance Cost |
Unrestricted funds £ 46,142 13,137 59,279 |
Restricted funds £ - - - |
Total 2021 Total 2020 £ £ 46,142 57,811 13,137 7,888 59,279 65,699 |
5. RESOURCES EXPENDED
6. NET MOVEMENT IN FUNDS FOR THE YEAR
| At 1 February 2020 Surplus/(Deficit) for the year At 31 January 2021 |
Unrestricted funds £ 129,072 3,609 132,681 |
Restricted funds £ - 25,000 25,000 |
Total 2021 Total 2020 £ £ 129,072 129,247 28,609 (175) 157,681 129,072 |
|---|---|---|---|
7. FIXED ASSETS
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Church & office equipment - 18% reducing balance Church Building - 2% reducing balance
| Cost At 1 February 2020 Additions At 31 January 2021 Depreciation At 1 February 2020 Charge for the year At 31 January 2021 Net book value At 31 January 2021 At 31 January 2020 |
Motor Vehicles £ 3,128 - 3,128 3,128 - 3,128 - - |
Land & Building £ 340,000 - 340,000 19,995 6,400 26,395 313,605 320,005 |
Leasehold Improvements £ 52,032 - 52,032 2,060 999 3,060 48,973 49,972 |
Computers, Projectors, Musical Equipments £ 9,138 - 9,138 7,185 293 7,478 1,660 1,953 |
Fixtures & Fittings Total £ £ 5,863 410,161 - - 5,863 410,161 3,759 36,127 316 8,008 4,074 44,135 1,789 366,026 2,104 374,034 |
|---|---|---|---|---|---|
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8. CREDITORS: AMOUNT DUE WITHIN ONE YEAR
| Accruals Other creditors |
2021 2020 £ £ - 600 5,821 - 5,821 600 |
|---|---|
9. CREDITORS: AMOUNT DUE AFTER MORE THAN A YEAR
| Mortgage Other Long-term Loans |
2021 2020 £ £ 223,670 223,530 10,672 22,314 234,342 245,844 |
|---|---|
10. TOTAL FUNDS
Restricted funds are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
Unrestricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
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