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2022-01-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD ADONAI AMBASSADORS ASSEMBLY

TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

(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 8-11

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 Adonai House 13 Trowbridge Road Romford RM3 8YW

Bankers HSBC PLC 23 Denmark Hill Camberwell Green London SE5 8RP

Accountants Enodel UK Limited t/a iSolve Accounting & HR 29 Main Road Romford, Essex United Kingdom RM1 3DD

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THE REDEEMED CHRISTIAN CHURCH OF GOD- ADONAI AMBASSADORS ASSEMBLY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2022

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of God - Adonai Ambassadors Assembly (the church) for the year ended 31 January 2022. The Trustees confirm that the annual report and financial statements 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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b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

c. ACTIVITIES FOR ACHIEVING OBJECTIVES

The Charity was involved in the following public benefit efforts:

*The Church currently organize Community Mental Health Awareness events and support some substance misusers within the community

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’ effort 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 church has completed her major community project, which is the extension of the present premises which is now being used as a children and youth centre. While it will also serve as a meeting place for the Pennu charity for the elderly, it is available for other community activities.

4

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:

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: 14 November 2022

5

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 2022, 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:

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

Director Enodel UK Ltd t/a iSolve Accounting & HR 14 November 2022

6

THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY Statement of Financial Activities for the year ended 31 JANUARY 2022


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 (Outgoing)/Incoming
Resources for the year

Total funds at 1 February 2021
Transfer between funds
Total funds as at 31 January 2022
6		 2022
2021
Unrestricted
Restricted
Total
Total
£
£
£
£
62,922
-
62,992
87,858
62,922
-
62,992
87,858
73,970
-
73,970
46,142
1,800
3,059
4,859
13,737
75,770
3,059
78,829
59,279
(12,778)
(3,059)
(15,837)
28,609
132,681
25,000
157,681
129,072
-
-
-
-
119,903
21,941
141,844
157,681

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

7

THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY Balance sheet as at 31 JANUARY 2022

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		 £
-
31,343		 2022
£
358,257
358,257

25,522
383,779
241,935
141,844
21,941
119,903
141,844		 2021
£
366,026
366,026
-
31,818
31,343
5,821		 31,818
5,821
25,997
392,023
234,342
157,681
25,000
132,681
157,681

a) For the year ending 31 January 2022 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: 14 November 2022

8

THE REDEEMED CHRISTIAN CHURCH OF GOD-ADONAI AMBASSADORS ASSEMBLY Notes to the financial statements for the period ended 31 January 2022

ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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

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.

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4. GOVERNANCE COST

5. RESOURCES EXPENDED

6. NET MOVEMENT IN FUNDS FOR THE YEAR

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

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8. CREDITORS: AMOUNT DUE WITHIN ONE YEAR

9. CREDITORS: AMOUNT DUE AFTER MORE THAN A YEAR

A Barclays Bank PLC mortgage is secured by an express charge on the property 13 Trowbridge Road, Harold Hill, Romford, Essex, RM3 8YW. The property has a current carrying value of £307,333.

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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