2020-12-31-accounts

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

VICTORY CENTRE FOR ALL NATIONS

THE SMALL STREET CENTRE

1A SMALL STRRET

WALSALL, WS1 3PR.

CHARITY NO: 1131690

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED

31[ST] DECEMBER 2020

1

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

VICTORY CENTRE FOR ALL NATIONS

REPORT OF THE TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

2

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

THE REDEEMED CHRISTIAN CHURCH OF GOD

VICTORY CENTRE WALSALL

FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2020

CONTENTS PAGE Corporate Information 4 Board of Trustees Report 5-9 Independent Examiner’s Report 10-11 Financial Statement 12-13 Balance Sheet and Income Statement 14-15 Notes to the Account 16-17

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

CORPORATE INFORMATION

Charity Registered Number: 1131690

Board of Trustees

1. Pastor Tokunbo Ibikunle Chairman

2. Pastor Olakunle Olawale Member

3. Pastor Abiodun Olaitan Member

4. Pastor Ezekiel Obileye Member

5. Pastor Debo Adesina Pastor in charge / Secretary

Registered Office

The Small Street Centre

1a Small Street Walsall

WS1 3PR

Tel: [phone]

Email: [e-mail]

Web :www.rccgcvwalsall.org.uk

Bankers:

HSBC BANK PLC

BARCLAYS BANK PLC

Accountant:

Heritage Accounting Services 27, Cleveland Street Wolverhampton WV1 3HT

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

TRUSTEES ANNUAL REPORT

Introduction

The Board of Trustees of RCCG Victory Centre Walsall present their annual report and accounts for the year ended 31st December 2020.

Structure, Governance and Management

Governing Document

The Charity is constituted as a “Trust” and governed by ‘Trust Deed’ dated 29[th] August 2009.

Trustee Appointments

Trustees are appointed under the terms of the trust deed. New Trustees are given induction on appointment, explaining the overview objectives of the charity and the requirements of the charity commission.

The Trustees and Directors confirm that the annual report and financial statements of the Charity comply with the Charities Act 1993, as amended by the Charities Act 2006, and the provisions of the statement of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005. The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust.

Constitution Policies

The objective of the charity is the advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule and the relief of poverty. The trustees use the income and the capital of the trust in promoting the objects.

Organisational Structure

Objectives of the Charity, Principal Activities and Organisation of our Work

The Redeemed Christian Church of God victory centre is a community based Christian charity involved in holding Christian worship services and activities, preaching the gospel of Jesus Christ and reaching out to the community on Christian faith related matters as well as other programmes that are beneficial to the general

5

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

public. We are also involved in providing support to our members and helping those having financial challenges aimed at relief of poverty.

The principal activities of the Church are Christian worship, Christian outreach programme to increase Christian awareness and spread of the gospel of our Lord Jesus Christ and development of the whole man, spiritually, mentally and physically.

Development, Activities Outreach Ministry and Achievements in the year

The charity’s main activities are tailored towards developing both the physical and spiritual needs of members and the public in the local community. The general public also have opportunity to benefit through our internet and social media platforms. During the year, the charity organised various workshops, outreaches and interactive sessions open to members and the public such as:

• COVID-19 Food and Essentials Project – with funding from the Big Lottery

• COVID-19 Vaccine promotion and encouragement seminar

• Positive economic contribution and development in difficult time’s seminar

• Regular weekly services and monthly special programmes held mostly virtually on Zoom, Facebook, and YouTube

• Christmas Carol Blended Service

Our meeting for the first half of the year was not possible due to Covid-19 pandemic and in deference to the government’s restrictions guidelines

Related Party Relationship

RCCG Victory Centre Walsall is a member of the Redeemed Christian Church of God (RCCG) a global church with parishes in over 190 countries. The relationship is governed by an 'Agreement for Common purposes' between the parish and RCCG. The referenced ”Agreement for Common Purposes” document is constantly monitored and recommended for updates to take cognisance of unfolding (policies, regulations)in the United Kingdom

Public Benefit Statement

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit. Details of how the charity has achieved these are provided in this report. The trustees confirm that they have paid

6

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

due regard to the charity commissions guidance on public benefit before deciding what activities the charity should undertake.

The Covid-19 Pandemic brought about various challenges for the community ranging from job losses and income to lack of basic amenities like groceries and toiletries. The lockdown was also not without its challenges for the physical and mental wellbeing of the people. Domestic abuse/violence, increased poverty levels, short term loss of income, loneliness, depression, was envisaged and the church knew it had to intentionally find a way to help with these challenges.

The Church applied for grants to fund some of its projects to help during the crisis and was fortunate to be successful with some of its applications.

COVID-19 Support for African Communities project-The Church received a grant of £9,985 for this project. The project aimed to provide domestic violence counselling services via telephone and video call. To support and signpost African people in abusive relationship to relevant agencies for help. It also aimed to supply vulnerable Africans and low –income families with food and toiletries. This project is ongoing producing food parcels to over 300 beneficiaries

Reserves Policy

It is the policy of the Trustees to work towards holding the minimum reserves necessary to enable the charity to meet its commitments for a minimum period of three months.

Risk Management

The trustee board performs its duty of safeguarding the charity against major risk. The board regularly reviews the charity’s governance structures, policies, procedures and practices. It recommends strategic and operational options and implements adequate prudent controls and preventives action to safeguard the assets of the charity as well as its reputation.

Grant Making Policies

Under the “Agreement for Common Purposes”, Victory Centre Walsall has agreed to make contributions to the Central Office Funds (COF) and the World Evangelism Mission (WEM) through RCCG Central Office. We support Africa Missions, an aid

7

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

relief Agency to the underprivileged people and communities mainly in Africa. We support as well Annual Conventions held at the RCCG National Headquarters and other missions/projects whose goals and visions are aligned with ours.

Contributions Made By Volunteers

The charity enjoys the services of various volunteers, who contribute enormously in various areas of service provision, development and implementation of the church vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations which could also have a positive impact in their secular activities and add value to themselves

During the pandemic, we had new volunteers who helped carry out some of the projects embarked upon, ranging from buying items to packing food boxes, delivering to the vulnerable and those isolating at home, speaking to and communicating with service users, providing counselling, sourcing for guest speakers at the virtual events, being physically present to ensure services run smoothly. We are indeed very grateful to them all as the church wouldn’t have been able to run effectively without their invaluable selfless service.

Achievement and Performance

The year 2020 was an unprecedented year for the world due to the outbreak of the Coronavirus. This pandemic led to a national lockdown in the UK which started on the 23[rd] of March 2020.The church had to close its premises and move most of its church services online and all the departments within the church had to devise new ways of functioning. In spite of these challenges, the church was able to carry on with most of its services with little or no risk to its going concern. The church continues to enjoy tremendous growth in its physical and spiritual life during the year and able to reach out to more service users than we’ve ever been with our online presence and the various new support initiatives introduced.

Financial Review

Principal Funding Sources

Funding has been provided mainly through voluntary donations from members. The charity has maximised its incoming by accessing gift aid claim on donations made by

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

eligible donors. During the year, the church also received Covid-19 related grants to support its objectives.

During the year ending Dec 31[st] , 2020, the charity received a total income of £52,969 in members’ voluntary income, £12,597 in gift Aid, £7,530 in building funds and COVID19 Project £9,990 making a total of £83,086. Total resources expended was £55,059 thus resulting in a surplus of £18,037. Pastor's stipend that would have been suspended or made redundant was retained through the advantage of the government's Furloughed Scheme.

Cash at the end of the period was £29,346 of which £7,444 is unrestricted fund.

Future Developments

We are looking at refurbishing our church building, as this will give us opportunity to influence the community by providing a range of services, which are currently inadequate in the area. The proposed refurbishing will enable us provide better facilities to church members and draw in potential members. The charity also plans to continue various activities relevant to its local community. In the coming year, Victory Centre Walsall plans to organise more developmental seminar/conference and workshops for its members and local community. The charity is actively exploring ways of putting the church building into optimum use to generate income for its charity work in the community and continued support for other missionary work.

This report was approved by the Board of Trustees on 19[th] October,2021 and signed on their behalf by:

Pastor Vincent Tokunbo Ibikunle

Chairman Board of Trustees

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

ACCOUNTANTS REPORT TO BOARD OF TRUSTEES

Accounts for the Year Ended 31ST DECEMBER 2020

We report on the accounts of the Redeemed Christian Church of God - Victory Centre Walsall for the year ended 31st December 2020.

Respective responsibilities of Trustees and Accountants.

The Trustees are responsible for the preparation of the accounts.

The Trustees consider that an audit is not required for the year under section 43(2) of the Charities Act 1993, as amended by Section 28 of the Charities Act 2006 and that independent examination is needed.

It is our responsibility to:

• To examine the accounts under section 43(3) of the 1993 Act

• To follow the procedures laid down in the general direction given by the charity commission under section 43(7)b of the 1993 Act:

and

• To state whether particular matters have come to our attention.

Basis of independent examiner's report.

Our examination was carried out in accordance with the general direction given by the Charity Commissioners. An examination includes a review of the accounting records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the accounts

Independent examiner's statement

In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that in any material respect the requirements:

• To keep accounting records in accordance with section 41 of the

• 1993 Charities Act,

and

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

• To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met or

*To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Heritage Accounting Services

27 Cleveland Street

Wolverhampton.

WV1 3HT

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2020

ACCOUNTING POLICIES

Scope and Basis of the financial statements

The accounts have been prepared under the historical cost convention and in

Accordance with applicable accounting standards and the statement of Recommended Practice “Accounting and Reporting by Charities” published in March

The charity has taken advantage of the concession which allows it to publish only a Statement of financial activities. The charity generated a total income of £83,086 and Total expenditure of £63,706 thus resulting in a surplus of £19,380 during the year.

Income

Revenue is recognised in the period in which the charity is entitled to receipt once The amount can be measured with reasonable certainty.

Expenses

Expenditure is included in the Statement of Financial Activities (SoFA) on an

Accruals basis and is recognised at the point when a legal or constructive obligation Arises.

Majority of costs are directly attributable to specific activities. Where costs cannot be Directly attributed to a particular heading, they have been allocated to activities on a Basis consistent with the use of resources.

Fixed assets

Fixed assets are stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Equipment 25%

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

Cash Flow statement

The financial statements do not include a cash flow statement as charity has taken Advantage of the exemption from preparing such a statement that are available to Smaller entities.

Fund accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

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REDEEMED CHRISTIAN CHURCH OF GOD VICTORY CENTRE FOR ALL NATIONS WALSALL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 FINANCIAL STATEMENTS- INCOME AND EXPENDITURE ACCOUNT.

2020 INCOMING RESOURCES NOTES UNRESTRICTED RESTRICTED Total FUND FUND £ £ £ Voluntary Donations 1 52,970 52,970 Building Fund Account - 7,530 7,530 Covid19 Project 9,990 9,990 Gift Aid Received 12,597 12,597 Total Income 75,556 7,530 83,086 EXPENSES Administrative and Charitable Activities 2 63,707 Total Expenses 63,707 Net Income 19,379 Prior year adjustment - Transferred to Accumulative Fund 19,379	2020 INCOMING RESOURCES NOTES UNRESTRICTED RESTRICTED Total FUND FUND £ £ £ Voluntary Donations 1 52,970 52,970 Building Fund Account - 7,530 7,530 Covid19 Project 9,990 9,990 Gift Aid Received 12,597 12,597 Total Income 75,556 7,530 83,086 EXPENSES Administrative and Charitable Activities 2 63,707 Total Expenses 63,707 Net Income 19,379 Prior year adjustment - Transferred to Accumulative Fund 19,379		2019 £ 59,859 19,666 11,024 90,548
	75,556 7,530 83,086
	63,707 63,707 19,379 - 19,379		67,942
			67,942
			22,606 4,311
			18,296

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REDEEMED CHRISTIAN CHURCH OF GOD VICTORY CENTRE FOR ALL NATIONS WALSALL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 FINANCIAL STATEMENTS-BALANCE SHEET NOTES FIXED ASSETS Tangible 5 Investments CURRENT ASSETS Debtors & Prepayments 6 Cash at Bank / Hand 7 CREDITORS Sundry Creditor 8 Amount due within one year NET CURRENT ASSETS TOTAL ASSETS LONG TERM LIABILITIES (CREDITORS) Amount due after more than one year Building Fund Loan Account. NET ASSETS RESERVES 9 Unrestricted Funds Net income for the year ACCUMULATED FUND	REDEEMED CHRISTIAN CHURCH OF GOD VICTORY CENTRE FOR ALL NATIONS WALSALL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 FINANCIAL STATEMENTS-BALANCE SHEET NOTES FIXED ASSETS Tangible 5 Investments CURRENT ASSETS Debtors & Prepayments 6 Cash at Bank / Hand 7 CREDITORS Sundry Creditor 8 Amount due within one year NET CURRENT ASSETS TOTAL ASSETS LONG TERM LIABILITIES (CREDITORS) Amount due after more than one year Building Fund Loan Account. NET ASSETS RESERVES 9 Unrestricted Funds Net income for the year ACCUMULATED FUND	2020 £ 201,906 - 201,906 - 29,346 29,346 6,727 6,727 22,619 224,525 90,145 134,380 115,000 19,380 134,380	2019 £ 200,989 -
			200,989
			- 15,592
			15,592
			8,164
			8,164
			7,428
			208,417
			93,417
			115,000
			96,704 18,296
			115,000

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REDEEMED CHRISTIAN CHURCH OF GOD VICTORY CENTRE FOR ALL NATIONS WALSALL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 FINANCIAL STATEMENTS- NOTES TO THE ACCOUNTS

NOTES 2020 £ VOLUNTARY INCOME 1 Tithe 30,616 Offering 17,421 Thanksgiving 4,933 TOTAL 52,970 Other 10 - Covid19 Project 9,990 Gift Aid 12,597 Building Fund 7,530 Total Income 83,086 Unrestricted Funds £ £ A : COST OF GENERATING INCOME 2 Rent 11,353 13,549 Sundry Payments 914 1,993 Finance Charges-Building Loan 4,048 4,282 Conference and Training - 8,543 Resources-Books and Manuals 96 285 Insurance 1,942 1,800 Telephone 879 750 Multi media 312 101 Printing & Stationery 1,540 770 Building Maintenance 322 Administration 22,826 19,451 Program and Events 1,150 2,600 TOTAL COST OF GENERATING INCOME 45,383 CHARITABLE EXPENSES Welfare 1,486 2,161 Donations - 150 Poject (Covid19) 8,647 - Central office 550 2,650 Evangelism 1,393 1,600 Mission and Outreach 550 850 Hospitality - 42 TOTAL 12,627 OTHER EXPENSES Professional Fees 700 700		2019 £
		34,294 19,853 5,086
		59,233 626 - 11,024 19,666
		90,549
		54,123 7,452

Depreciation 4,997 5,697 5,666 6,366 TOTAL EXPENSES 63,707 61,576 15

NOTES TO THE ACCOUNT

Taxation 4

RCCG Victory House Walsal is a registered charity and is eligible for the exemptions from taxation available to Charities on their charitable activities. No charge to taxation therefore arises.

Fixed Assets 5 COST At 1st January, 2020 Additions At 31st December 2020 DEPRECIATION At 1st January, 2020 Charge for the Year At 31st December 2020 NET BOOK VALUE At 31st December 2019 Bank and Cash Balances 7 HSBC Bank Balances HSBC Bank Savings BUILDING FUND ACCOUNT Barclays Bank Creditors- amounts failling due within one ye 8 Accrued Expenses (CREDIT CARD BALANCE) Sundry Creditor RESERVES ACCUMULATIVE FUND 9 BAL BROUGHT FORWARD NET INCOME FOR THE YEAR TOTAL	Equiptment Pupilt Building Total £ £ £ £ 23,827 600 193,389 217,816 1,159 - 4,755 5,913	Equiptment Pupilt Building Total £ £ £ £ 23,827 600 193,389 217,816 1,159 - 4,755 5,913
	24,986	600 198,144 223,729
	16,374 4,997	450 - 16,824 - 4,997
	21,371	450 - 21,821
	3,615	150 198,144 201,908
	20,402 1,000 7,444 500
	29,346
	464 6,263
	6,727
	115,000 19,379
	134,379

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

VICTORY CENTRE FOR ALL NATIONS

THE SMALL STREET CENTRE

1A SMALL STRRET

WALSALL, WS1 3PR.

CHARITY NO: 1131690

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED

31[ST] DECEMBER 2020

1

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

VICTORY CENTRE FOR ALL NATIONS

REPORT OF THE TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020

2

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

THE REDEEMED CHRISTIAN CHURCH OF GOD

VICTORY CENTRE WALSALL

FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2020

CONTENTS PAGE Corporate Information 4 Board of Trustees Report 5-9 Independent Examiner’s Report 10-11 Financial Statement 12-13 Balance Sheet and Income Statement 14-15 Notes to the Account 16-17

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

CORPORATE INFORMATION

Charity Registered Number: 1131690

Board of Trustees

1. Pastor Tokunbo Ibikunle Chairman

2. Pastor Olakunle Olawale Member

3. Pastor Abiodun Olaitan Member

4. Pastor Ezekiel Obileye Member

5. Pastor Debo Adesina Pastor in charge / Secretary

Registered Office

The Small Street Centre

1a Small Street Walsall

WS1 3PR

Tel: [phone]

Email: [e-mail]

Web :www.rccgcvwalsall.org.uk

Bankers:

HSBC BANK PLC

BARCLAYS BANK PLC

Accountant:

Heritage Accounting Services 27, Cleveland Street Wolverhampton WV1 3HT

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

TRUSTEES ANNUAL REPORT

Introduction

The Board of Trustees of RCCG Victory Centre Walsall present their annual report and accounts for the year ended 31st December 2020.

Structure, Governance and Management

Governing Document

The Charity is constituted as a “Trust” and governed by ‘Trust Deed’ dated 29[th] August 2009.

Trustee Appointments

Trustees are appointed under the terms of the trust deed. New Trustees are given induction on appointment, explaining the overview objectives of the charity and the requirements of the charity commission.

The Trustees and Directors confirm that the annual report and financial statements of the Charity comply with the Charities Act 1993, as amended by the Charities Act 2006, and the provisions of the statement of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005. The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust.

Constitution Policies

The objective of the charity is the advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule and the relief of poverty. The trustees use the income and the capital of the trust in promoting the objects.

Organisational Structure

Objectives of the Charity, Principal Activities and Organisation of our Work

The Redeemed Christian Church of God victory centre is a community based Christian charity involved in holding Christian worship services and activities, preaching the gospel of Jesus Christ and reaching out to the community on Christian faith related matters as well as other programmes that are beneficial to the general

5

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

public. We are also involved in providing support to our members and helping those having financial challenges aimed at relief of poverty.

The principal activities of the Church are Christian worship, Christian outreach programme to increase Christian awareness and spread of the gospel of our Lord Jesus Christ and development of the whole man, spiritually, mentally and physically.

Development, Activities Outreach Ministry and Achievements in the year

The charity’s main activities are tailored towards developing both the physical and spiritual needs of members and the public in the local community. The general public also have opportunity to benefit through our internet and social media platforms. During the year, the charity organised various workshops, outreaches and interactive sessions open to members and the public such as:

• COVID-19 Food and Essentials Project – with funding from the Big Lottery

• COVID-19 Vaccine promotion and encouragement seminar

• Positive economic contribution and development in difficult time’s seminar

• Regular weekly services and monthly special programmes held mostly virtually on Zoom, Facebook, and YouTube

• Christmas Carol Blended Service

Our meeting for the first half of the year was not possible due to Covid-19 pandemic and in deference to the government’s restrictions guidelines

Related Party Relationship

RCCG Victory Centre Walsall is a member of the Redeemed Christian Church of God (RCCG) a global church with parishes in over 190 countries. The relationship is governed by an 'Agreement for Common purposes' between the parish and RCCG. The referenced ”Agreement for Common Purposes” document is constantly monitored and recommended for updates to take cognisance of unfolding (policies, regulations)in the United Kingdom

Public Benefit Statement

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit. Details of how the charity has achieved these are provided in this report. The trustees confirm that they have paid

6

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

due regard to the charity commissions guidance on public benefit before deciding what activities the charity should undertake.

The Covid-19 Pandemic brought about various challenges for the community ranging from job losses and income to lack of basic amenities like groceries and toiletries. The lockdown was also not without its challenges for the physical and mental wellbeing of the people. Domestic abuse/violence, increased poverty levels, short term loss of income, loneliness, depression, was envisaged and the church knew it had to intentionally find a way to help with these challenges.

The Church applied for grants to fund some of its projects to help during the crisis and was fortunate to be successful with some of its applications.

COVID-19 Support for African Communities project-The Church received a grant of £9,985 for this project. The project aimed to provide domestic violence counselling services via telephone and video call. To support and signpost African people in abusive relationship to relevant agencies for help. It also aimed to supply vulnerable Africans and low –income families with food and toiletries. This project is ongoing producing food parcels to over 300 beneficiaries

Reserves Policy

It is the policy of the Trustees to work towards holding the minimum reserves necessary to enable the charity to meet its commitments for a minimum period of three months.

Risk Management

The trustee board performs its duty of safeguarding the charity against major risk. The board regularly reviews the charity’s governance structures, policies, procedures and practices. It recommends strategic and operational options and implements adequate prudent controls and preventives action to safeguard the assets of the charity as well as its reputation.

Grant Making Policies

Under the “Agreement for Common Purposes”, Victory Centre Walsall has agreed to make contributions to the Central Office Funds (COF) and the World Evangelism Mission (WEM) through RCCG Central Office. We support Africa Missions, an aid

7

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

relief Agency to the underprivileged people and communities mainly in Africa. We support as well Annual Conventions held at the RCCG National Headquarters and other missions/projects whose goals and visions are aligned with ours.

Contributions Made By Volunteers

The charity enjoys the services of various volunteers, who contribute enormously in various areas of service provision, development and implementation of the church vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations which could also have a positive impact in their secular activities and add value to themselves

During the pandemic, we had new volunteers who helped carry out some of the projects embarked upon, ranging from buying items to packing food boxes, delivering to the vulnerable and those isolating at home, speaking to and communicating with service users, providing counselling, sourcing for guest speakers at the virtual events, being physically present to ensure services run smoothly. We are indeed very grateful to them all as the church wouldn’t have been able to run effectively without their invaluable selfless service.

Achievement and Performance

The year 2020 was an unprecedented year for the world due to the outbreak of the Coronavirus. This pandemic led to a national lockdown in the UK which started on the 23[rd] of March 2020.The church had to close its premises and move most of its church services online and all the departments within the church had to devise new ways of functioning. In spite of these challenges, the church was able to carry on with most of its services with little or no risk to its going concern. The church continues to enjoy tremendous growth in its physical and spiritual life during the year and able to reach out to more service users than we’ve ever been with our online presence and the various new support initiatives introduced.

Financial Review

Principal Funding Sources

Funding has been provided mainly through voluntary donations from members. The charity has maximised its incoming by accessing gift aid claim on donations made by

8

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

eligible donors. During the year, the church also received Covid-19 related grants to support its objectives.

During the year ending Dec 31[st] , 2020, the charity received a total income of £52,969 in members’ voluntary income, £12,597 in gift Aid, £7,530 in building funds and COVID19 Project £9,990 making a total of £83,086. Total resources expended was £55,059 thus resulting in a surplus of £18,037. Pastor's stipend that would have been suspended or made redundant was retained through the advantage of the government's Furloughed Scheme.

Cash at the end of the period was £29,346 of which £7,444 is unrestricted fund.

Future Developments

We are looking at refurbishing our church building, as this will give us opportunity to influence the community by providing a range of services, which are currently inadequate in the area. The proposed refurbishing will enable us provide better facilities to church members and draw in potential members. The charity also plans to continue various activities relevant to its local community. In the coming year, Victory Centre Walsall plans to organise more developmental seminar/conference and workshops for its members and local community. The charity is actively exploring ways of putting the church building into optimum use to generate income for its charity work in the community and continued support for other missionary work.

This report was approved by the Board of Trustees on 19[th] October,2021 and signed on their behalf by:

Pastor Vincent Tokunbo Ibikunle

Chairman Board of Trustees

9

VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

ACCOUNTANTS REPORT TO BOARD OF TRUSTEES

Accounts for the Year Ended 31ST DECEMBER 2020

We report on the accounts of the Redeemed Christian Church of God - Victory Centre Walsall for the year ended 31st December 2020.

Respective responsibilities of Trustees and Accountants.

The Trustees are responsible for the preparation of the accounts.

The Trustees consider that an audit is not required for the year under section 43(2) of the Charities Act 1993, as amended by Section 28 of the Charities Act 2006 and that independent examination is needed.

It is our responsibility to:

• To examine the accounts under section 43(3) of the 1993 Act

• To follow the procedures laid down in the general direction given by the charity commission under section 43(7)b of the 1993 Act:

and

• To state whether particular matters have come to our attention.

Basis of independent examiner's report.

Our examination was carried out in accordance with the general direction given by the Charity Commissioners. An examination includes a review of the accounting records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the accounts

Independent examiner's statement

In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that in any material respect the requirements:

• To keep accounting records in accordance with section 41 of the

• 1993 Charities Act,

and

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

• To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met or

*To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Heritage Accounting Services

27 Cleveland Street

Wolverhampton.

WV1 3HT

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2020

ACCOUNTING POLICIES

Scope and Basis of the financial statements

The accounts have been prepared under the historical cost convention and in

Accordance with applicable accounting standards and the statement of Recommended Practice “Accounting and Reporting by Charities” published in March

The charity has taken advantage of the concession which allows it to publish only a Statement of financial activities. The charity generated a total income of £83,086 and Total expenditure of £63,706 thus resulting in a surplus of £19,380 during the year.

Income

Revenue is recognised in the period in which the charity is entitled to receipt once The amount can be measured with reasonable certainty.

Expenses

Expenditure is included in the Statement of Financial Activities (SoFA) on an

Accruals basis and is recognised at the point when a legal or constructive obligation Arises.

Majority of costs are directly attributable to specific activities. Where costs cannot be Directly attributed to a particular heading, they have been allocated to activities on a Basis consistent with the use of resources.

Fixed assets

Fixed assets are stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Equipment 25%

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VICTORY CENTRE FOR ALL NATIONS WALSALL

Redeemed Christian Church of God Victory Centre for All Nations

Cash Flow statement

The financial statements do not include a cash flow statement as charity has taken Advantage of the exemption from preparing such a statement that are available to Smaller entities.

Fund accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

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