Registered number 1132752 The Redeemed Christian Church of God (RCCG) House of Elyon Financial Statement & Accounts for 30 September 2024
REDEEMED CHRISTIAN CHURCH OF GOD - HOUSE OF ELYON YEAR ENDED 30 SEPTEMBER 2024 REPORT AND FINANCIAL STATEMENTS CONTENTS BOARD MEMBERS. OFFICERS. ADVISERS AND BANKERS REPORT OF THE BOARD AND STATEMENT OF BOARD'S RESPONSIBILITIES INDEPENDENT EXAMINER'S REPORT iv BALANCE SHEET STATEMENT OF FINANCIAL ACTIVITES CASH FLOW STATEMENT NOTES TO THE FINANCIAL STATEMENT
REDEEMED CHRISTtAN CHURCH OF GOD. HOUSE OF ELYON General Overseer Pastor Enh Adeiare Adeboye Board of Trnstees The Trustees who served dur£n8 the year were as follo Pastor David Omotayo Ayeni Brother Olawale Hezekiah Fayehun Deaconness Funmilola Adunola Oio SisteT Adefunke Oluwabunmi Ayeni Pastor In Charge Pastor Sevi Oio Principal Address 43 Crossbrook Road Blackhea London SE3 8LW Bankers HSBC Bank PIC Lewisham, tondon SE13 Statutory Registration Registered with Charittr Commission Charity Nutnber 1132752
REDEEMEDCHRISTtAN CHURCH OFGOD. HOUSE OF ELYON ctwtiv s lEPaI durlnE thè year(thitittuÈd to rt[isith ed31)al trairun& welfatpol tt(KNmAty. Prd 0fTry$ areKoverned by the tsuStdÉed adopted o RCCG Hou5E ol Ely(bn ywniEroE Chn5tiaThchuhofCth (RCCO Whyhhasl5W0ridWl RCEG House OfEty0 withthe1pofGtraTra thededitation ofT¥usts pastors Minis worfMsaT¥I oftt household. overcamethelnitial sÉ-upd•aThl wdieablL%W Tpknh DEttRje1 {Stsa WithcOrnpIOllfor tlRn¥wthofouryotsthand tss b1d. w¢(1KDmeed se0[a ded1¢ Rtsouttecettter facsliti ]Kl ottwactivilie5 to makethem $v31 LUmttÉThawavfromJMe. ar finanoF]¢hantyarn1 aresatisfiEd tk5y5th in pf¥eisadtyuate lonutiyteany exwwtr It>any JOr risk law applicable lo cha11tl E[lat and Wale5 wuires thelMs¥th pwfina]yJalststrts findla1 year which Rives a treal lair vipwoEtsslateofaffAits DFthÈdwtty ofthesurpkntt d&itoEtrclwity (orthat In PTeWin% f]naKialstakn llYtnJshave . SuitsblEactountin% p)IKiL%awJ applied them 41Èfy, . Madeldementsand e5timale5 thaiatEy&W>nabjEat pruden¢ in the Stae' . Frepared tfinaal staternents Qna%oitiKto b85islunless iLisinaPPtvpriateto prexbmethatlkowity WIU LX4ltinue inopeTationl' . The tfU5tees Ve0veI Teswythlxlitv fr%11thathth3IIEVhas on aF>Fffwiatr5tsn ofmntrol. fina)3] otrwige. T]y arekn tE5P)llStble forkÈtyin% p[Dw(ntiX TLYoTrls whithdi5c105e wjth re&4)r&IdeyrYatt any tijxe tJ* tnCIal w>5ition ol thechayity ar enalde to $that fir1j 5tathats¢vmply wjth ITr or9= Pastor David (knthyoAyuu"
Independent Examinefs Report to the Tntstees of REDEEMED CHRISTIAN CHURCH OF GOD- HOUSE OF ELYON l pOrt on the accounts of the Redeell Christian Church of G- House OfEty0 for the year ended 30th Pber 202,4, which are set out on pages I to 7. Respertive responsibilities of trustees and examiner The charity's trusites are respo5]ble for the preparation of the accounts. The charity's tnleeS consider that an audit is not requiTed for this year (llnder section 4¥2) of the Charities Act 1993 (the IW3 Act)) and that an independentexamination is needed. It is Y responsibility": to examine the account under (Stion 43P)(a) of the 19Y3 Act): to follow the pryKedures laid down in the Cnerdl Direction given by the Clwity Commissioners (under section 43(4(b) of the 19¥3 Act); and to state whether partIctd matters have corne to my atlenlion Basis of Independent examinerfs report My examination was carrled out in accoTdallce with the Generat DIrectio% given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also tn(ludes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trusts concerning any such matiErs. The procedures undertaken do not provide all the evidence that would required in an alldiL and Consequently I do notexpress an audit opinion on the view given by the accounts. Independent examinefs statement In connection with my examination, no matter has come to my attention: 11) which gives me reasonable cause to tElieve that in any material respect the requirements to keep accounting records in accordance with section 41 of the I Act: and to prepare accounts which accord with the accounting Tecords and cornply the accounting requirements of the Act have not been m& OT {2) to which, in my Opinio attention should drawn in order to enable a proper underslanding of the accounts to be Ched. Michael I Chartered Accountant 57 Courtlands Avenue. IA)ndon SE12 8JJ 16 OCtor 2024
REDEEMED CHRISTIAN CItURCH OF GOD HOUSE OF ELYON- Retered Charity Number 113Z152 BALANCE SHEEr AS AT 30 SEiryEMBER %)24 Fixed Assets Notes io Tangible Assets Investments Total Fixed Assets 47 12 Current Assets Accounts Receivable Prepayments Investments Cash at bank and in hand Total Current Assets li 12 5J52 13 1.218 81257 cent liabi]ities Aeeruals 14 2.682 £195 £195 Total assets less turrent liabilities 83319 77,105 Creditors falling due after one year 8319 77.105 Income Funds Unrestricted Funds Restricted Funds Designated Funds Reserves Total Funds. . T3.478 4,695 5.146 67.264 5.146 83J19 T7.1(6 Pastor David Omotayo Ayeni Trustee Pastor Funmilola Adunola OJ"o Ttre
HOUSE OF ELYON- Registered Charity Number 1132752 FOR YEAR ENDED 30 SEFfEMBER 2024 2024 UnTestrirted Restricted Total Funds Funds Funds 2023 Tot Funds INCOMING RESOURCES Income fvom activities in rtherance of Charitable olryects Income from actrvities for generattng funds Investment Income Other Incotning Resource Total Incoming Resources 24,944 24,944 20.704 243 243 331 5.447 26.482 32,153 32.153 RESOURCES EXPENDED Cost of Generating Funds Charitsble Expenditure.- Grants and Donation Costs of activities for charitsble objectives Support Costs Management and adMitrati0Th Total Resources Expended 7m2 7,012 2,433 1433 1787 iOA85 10.485 5,n2 4,416 1,680 21.958 25.939 25,939 Net Ineoming Resources 6.214 6214 4.524 Totsl Funds brought forward 67.264 941 77,105 72yI 73.478 9.841 83J19 77.105
REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF ELYON- Registered Charity Number 1132752 CASH FLOW STATEMEP FOR YEAR ENDED 30 SEFTEMBER 24 Net Cash infiow/{oufflow) from operations Returns on investtnents and servicing of finance Capitsl expenditure and financ1 investment 3.T39 15 3,739 (Increase) / Decrease in money at short notice Financing Increase /(Decrease) in Cash -IZ7 31 -126 8,991 17.730 ReconcilAation of net incomin<0Vtg0Ingj resonrces to net cash infiow/loutflow) from operating actie9 Net incoming/ (outgoing) resources Depreciation charge (Surplus) on sale of tangtble fixed assets Interest element of finance lease Decrease /Uncrease) in Stocks Decrease/(Increase) in Debto (Decrease)/lncrease in Creditors Net Cash infiow/(outtlow) from OFeratiors 6214 9,748 -1513 3.739 ReconcilAation of net cash flow to movement in net liquid resources Increase/(Decrease) in cash in the twi(xl Cash oufflow from finance lease Cash outfiow from loan Increase/eCreaSe) in money at short notice 3.704 Net liquid funds at I (r Net Eiquid funds at 30 September 76,577 80281 67,712 765TI
REDEEMED CHRISTIAN CHURCH OF GOD- HOUSE OF ELYON YEAR ENDED 30 SEFfEMBER 2024 l. Accounting Policy The principal accounting poliaes. all of which have ien applied CO$tent[Y throughout the year. are set out below: (a) Scope and basis of the financial statements The financial slatements have been prepared under the historical cost convention are in acordan with applicable accounting standards and the revised Statement of Recommended Practice. "Accounting and Reporttng by Charities" issued in Cktober 2(KK) (b) Incoming Resources All income is accounted for when the Church has entidement ts) the funds, the amount can be quanttfied and there is certainttT of receipL Resources expended All expenditure is accounted for on accrual basis Manasement and administration costs include management of the church's assets. (d) Tangible fixed assets and depreciation Tansible fixed assets a ststed at Cost and depreciated on a straight line basis over their useful economic lives as follows-. Motor Vehicle- 2 years Equipment- 3 years Musical Equipment. Furniture5 and Fitlings- 4 years Leasehold Improvement- 5 years
REDEEMED CHRISTIAN CHURCH OF GOD. HOUSE OF ELYON YEAR ENDED 30 SEFfEMBER 2024 NOTES TO THE Accouwr 2 Income from Activities in furtherance of Clwitable Objects Tithes Offering Thanksgiving 19.763 15.1(11 3,134 2,410 1,976 20.704 3 Income from Activities for Generating Funds Pledges Donation Fundraising 243 331 243 331 4 Other Incoming Resources IR Charities Interest 5512 1.453 813 5.447 5 Cost of Generating Funds RCCG- National RCCG- UK Central Office RCCG_ Province RCCG- Zone RCCG _ Area African Mission England Festicai of Life 5.212 240 240 240 240 7263 6 Grarts and DonatiODS Welfare Legal Assistance Volunteers Expenses Donations IM7 1.150 1433 1787
REDEEMED CHRISTIAN CHURCH OF GOD- HOUSE OF ELYON N(YfES TO THE AccouNr 7 Cost of Activities for Charitable Objective 2024 951 Transportation costs Communtty outreach Outreach ExpeA8es Mission Expense5 Soleufft Assembly Pastors Conference 3,188 11 10.485 8 Support Cost Rent Gas & ElectrAcity Insurance Books and Journals Software Anmthl fee 124 126 4416 9 Management and AdMItratiOn Depreciation Cost Office Expenses Entertainment Training Costs Professional & IEgal Accountancy Bank Charges PubIicity & Advertisement Printing & Ststionery 1295 61 374 164
AEDEEMEDCIIRISTIANCHURCHOFGOD-HOUSEOFELYON YEAR ENDED JISEFfEMBE112124 10 TaDylpleAsseLs Atl/lOI AdditioA% DiSpL At30/tr4I24 5.146 At 1110/2023 &116 epTe(iab(bn foryear AI 50/1%)24 5.116 Net Book Vah At301(N12024 io 10 io Atl(l)I2023 io io io li Debto 5352 thte ET0 OthEr Pari%t*5 5352 13 Bartk &Cash 79 U18 HSPL Bank 15B Ijy 765n BribshGas RCCG- NatioE)al 1016 1529 4195 saof tnvestthÈnts SAkof lanRibk lixtd asseb