THE REDEEMED CHRISTIAN CHURCH OF GOD (LOVE ASSEMBLY) FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2023. ChariryNumber 1131819
THE REDEEMED CHRISTIAN CHURCH OF GOD. (LOVE ASSEMBLY) INDEX Conteiil Page Index lo the Loiiienl 'I'rustees repoi Accounlants Certilieate Income and Expenditure Accvuni Balance ShcLI Notes To the Account 9-10 Page I
The Redeemed Christian Church of God (Love Assembly) Report of the trustees for the year ended 31st December 2023 The truslees are pleased to present their report together with the financial statements of the charity for the year ended 31 st December 20?3. Objectives of the charity The objects of the charity are.. Advancenient of the Christian faith worldwide To relief sickness and financial hardship and to promote and preserve good health. iii) To advance education To acliieve these: The charity engaged in running Sunday services in its locality. Organise crusades. Regular evangelism. Prayer meetings & bible studies. The door of the charity is widely open to any one in need of counselling on any matter. Youth activities are organised to help young ones become responsible and uset.ul in the society. During tlie year training was held to educate the community on . Trip was organised to Margate beach front as a means of promoting Healthy living for participants. Duriiig the festive periods we organised visits to Camberwell Green Where rough sleepers were entertained with lunch parks and drinks. Couples diniier was organised to promote family and communal Harniony.
Organisation An elected board of at least ihree members administers the charity. The board meets four times a year. A pastor is appointed by the board to manage the spiritual and the day-to- day operalions ot'the charity. There are volunteers assisting the pastor in the administration and other areas where help might be needed. Risk review The trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to minimise those risks. Internal procedures are established and regularly reviewed to ensure compliance at all times. Responsibilities of the trustees Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of ihe state of affairs ot'the charity as at the balaiice sheet date and of its incoming resources and application of resources. including income and expenditure, for the year then ended. In preparing those financial statements which give a true and fair view, Ihe trustees should follow best practice and.. Select suitable accounting policies and then apply them consistently Make judgements and estimates that are reasonable and prudent State whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial stalements PagL.i
Prepare the financial statements on the going concem basis unless it is inappropriate to assume that the charity will continue on that basis. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and also to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and lience for taking reasonable steps for the prevention and detection of traud and otlier irregularities. Reserve Policy The trustees of the charity have a prudent reserve policy, conscious of the fact that the charity is not self-financing and aware that reserve must be set aside in case of funding challenges. The trustees have adopted a policy of keeping a reserve account separately from the general funds where all activities of the organisation al-e run from. The trustees move unused fundJ into this account from time to time. Tl)e gift aid received is also kept in this account. This policy will be reviewed fi'om time to lime. Grant Making Policy The Charity SLlPPOrt visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG central office. World evangelism mission. Festival of life and other RCCG programmes. The chureh siipport other Lharities and missionary that shares its objectives in advancement of Christian faith and relief of poverty. The church gives occasional grants to people/coiigregational members who are in need. PAg¢ 4
Future Development The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in menibership and continue to develop its members to make life changing impact in society. During the year the charity Started a once in a month food bank out reach t.or the homeless. The programme has been very successful and has been a life changiniTr experience for the attendants. The trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report are as follows: Dr Adeniyi Faboya Deacon Tope Awobajo Pastor Samuel Eesuola On behalf"ot"the Board of Trustees Mr Tope Awo ajo Page 5
THE REDEEMED CHRISTIAN CHURCH OF GOD (LOVE ASSEMBLY) ACCOUNTANTS CERTIFICATE FOR THE YEAR ENDED 31 ' DECEMBER 2023. In accordance with instruction given to us, we have prepared the Annexed Income and Expenditure account and balance sheet under the historical cost convention, using the accounting records: information and explanation supplied to us by the trustees, and certify that they are in accordance there-in. Topson & Co ?4 Harbour House Coldharbour Lane Rainhani RM13 9YB Pag¢ 6
THE REDEEMED CHRISTIAN CHURCH OF GOD ILOVE ASSEMBLY) STATEMÉNT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 MMARY INC ME AND PENDIT NT. Notes Rèstricts Unrestri¢ 2023 2022 INCOMING RESOURCES Donations 29986 29986 29847 Other voluntsry Income 1450 1450 Incorne from gift aid Income frorn Investment 421 421 TOTAL INCOMING RESOURCES 31857 31867 29847 RESOURCES USED Granis 6250 6250 2130 Direct parish expendiluie 18785 18785 6529 Management and govemance cost 17168 17168 151 TOTAL RESOURGES USED 42203 42203 NET INCOMING RESOURCES -10346 -10346 6088 8ALANCES BIF AT BEGINNING OF YEAR 51508 51508 45420 BALANCES CARRIED FORWARD 41162 41162 51508 Page 7
THE REDEEMED CHRISTIAN CHURCH OF GOD (LOVE ASSEMBLY) BALANCE SHEET AS AT 31ST DECEMBER 2023 Notes 2023 2022 Fix8d assets Tangible assets 10 Current assets Cash at bank and in hand Retil Deposit ¢reditor amounts fslling due within one year 46700 S7782 11 5538 274 Net curr&nl asset$ Provision for liability and charges Net current a$$Èts less cuffent 41162 51508 41162 Funds Restricted funds Unrestricted funds Totsl fund$ 41162 41162 51508 Page 8
THE REDEEMED CHRISTIAN CHURCH OF GOD ILOVE ASSEM8LYI NOTES ON FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DEGEMBER 2023 1. Atcounfjng Pollclgs Thelinan¢ial statemen15 h8ve been ppared un08r ihe his¢1 C1 Veni10 and In 3croid¥n¢e wth th& 5talemeni ol recommet¥Jed ¥K8¢t1, accountsng ar by Charitye$ ISORPI apkquble 8ttWnli stan[&S and Companies Ad 1985 2.Don8Dons U#r•*ri¢¢o0 Fund$ Restrict Fund8 2023 2922 Times & 0ering& Thanksgr¢ing OtfaMg 28694 3291 26694 ts1 26571 5276 3.OlhFr volvnwry ItKorne 1450 1450 Incorngfrom 9lftahl S.In¢offlè from ItwestmeDts Bartk 4rnieiesi feceive 421 421 6.Grants pald 8C4) 600 ¢00 40 c0mmpasn UK Centiai Offi Area Evang811(xl Allianc• 5300 2 53 14 62$0 6250 2130 7.Dlrect partsh eXFwxlitur• Minisiry Insuran Rent 1483 S4 1483 6954 Church runnl Admin cost.. 365 Accèssonès 3S3 1538 ao 707 353 153e 80 707 220 11 250 Repair & Mainlain•nce OMCITrsining Evangelism 173 2927 2700 700 750 2J1 2927 00 70C) 750 231 Volunt8er$ HonoLiranum van Emoenses Others DepDat 295 525 18785 18786 Pa9e 9
8.Managèmet)t & Govtmat)COCOYt A(tountsnis lee Saianes. Tay & Nl 850 650 650 14450 71 9.Net movemfynt funds ft>fihe Ye8r net movemwi in fund fortt year1$ 5tsted aiiercWgItKJ. Depreri3lion tangiblealS AcCotaS r8muneraiion 528 10.Tangity• fix4d assets Cosi Al 1 J?nuary 2023 Equipment FixbJr8$ & Fltllrfjs Toial 45S7 225 522È Al 31 Oscèmber 2023 52Z8 D¢pTrciation Al 1 Jailiiary 2023 Charge fLWihe year Al 31 D&wnber 2023 47 22S 445 5227 47 225 52 Net book vue All fue¢ 388ttsare used direclly for1ChL¥¢h purw¥es. 11.thditor8.' 4m¢untA fallln9 due wlthln one ye4¢ Acwuntants fS Tsx & Salary 650 4888 Page10