**REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE- SOUTHAMPTON FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|**CONTENTS**
**1. CHARITY INFORMATION**
**2. ACCOUNTANT’S REPORT**
**3. REPORT OF THE TRUSTEES**
**4. BALANCE SHEET**
**5. INCOME AND EXPENDITURE ACCOUNT**
**6. NOTES TO THE ACCOUNTS**|**PAGES**|
|---|---|
||**1**
**2**
**3-4**
**5**
**6**
**7-9**|
## **REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024**
**CHARITY NO.:** 1133816 **REGISTERED OFFICE:** 21/25 St Marys Place Southampton SO14 3HY **BANKER LLOYDS TSB**
**ACCOUNTANTS:**
TMA Associates Ltd Accountants & Tax Consultants 4 Hillbrow Close, Bexley Kent. DA5 2HF
**Page 1**
**ACCOUNTANTS’ REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON FOR THE YEAR ENDED 31 MARCH 2024**
We have examined the financial statements on pages 5 to 6 which have been prepared under the accounting policies set out on page 4 for the year ended 31 March 2024.
## **Respective responsibilities of Trustees and Examiner**
The Trustees are responsible for the preparation of accounts, and they consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is our responsibility to
- examine the accounts (under section 43(3)(a) of the 1993 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
- to state whether particular matters have come to my attention.
## **Basis of Opinion**
We conducted our examination in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Opinion**
In connection with the examination, no matter has come to my attention: -
1. which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 41of the 1993 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act. have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**TMA ASSOCIATES LTD 4 HILLBROW CLOSE ACCOUNTANTS & BEXLEY. TAX CONSULTANTS DA5 2HF**
**DATE ..............................…............**
**Page 2**
**REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 4 and comply with the charity’s trust deed and applicable below.
## **Constitution and objects**
Redeemed Christian Church of God, Holy Ghost Zone - Southampton is constituted under a trust deed and is a registered charity number 1133816.
The objects of the charity are worshipping of God, spreading the word and preaching the Gospel of Christ and the life after life. To contribute to the health and educational needs of the community.
## **Organisation**
The trustees who have served during the year and since the year end are set out below: -
Mrs Olabisi Oluwakemi Abu Mr Frank Abu Mrs Ubong Matthias Uttah Mrs Anietie Joseph-Aninmadu
## **Reserves Policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which arise from time to time. Unrestricted funds were maintained at this level throughout the year.
## **Risk Management**
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
**Page 3**
**REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON REPORT OF THE TRUSTEES (CONTD.) FOR THE YEAR ENDED 31 MARCH 2024**
## **Trustees’ responsibilities in relation to the financial statements**
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: -
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and 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 reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
**……………………………………………**
## **Date ………………………….**
**Page 4**
## **THE REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE - SOUTHAMPTON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Notes**
**INCOME**
Incoming resources from donors
2
Other incoming resources
**TOTAL INCOMING RESOURCES**
RESOURCES EXPENDED
3
Costs of generating funds
Missionary and Charitable giving
3a
Activities directly relating to the
work of the church
3b
Church management and administration
3c
**TOTAL RESOURCES EXPENDED**
NET INCOMING/(OUTGOING) RESOURCES
GAINS AND LOSSES ON INVESTMENTS
NET MOVEMENT IN FUNDS|**U**|**nrestricted**|**nrestricted**|**Res**|**tricted**|
**En**|**dowmen**|**2**
291
291|**2**
291
291|**024**
632
-
**Total**|**2023**
**£**
289 811
-
289 811
**Funds**|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Funds**
**£**
291 632
-
291 632||**F**|**unds**
**£**
-
-
-
-
-
-
-|
|**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
**-**|||||
|||||||||||632||
|||-
830
101 646
140 037||||||101
140||-
830
646
037|-
791
49 908
154 356|
|||242 513|||-
-
-|||242||513|205 055|
||||49 119
-
**49 119**||||||49
**49**|119
-|84 756
-
**84 756**|
||||||-|||||**119**||
## **Page 5 THE REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE - SOUTHAMPTON BALANCE SHEET AS AT 31 MARCH 2024**
|**Notes**
**FIXED ASSETS**
Tangible Assets
4
**CURRENT ASSETS**
Debtors & Prepayments
5
Bank/Cash Balances
Development Fund Account
Charity Account
**CURRENT LIABILITIES**
Creditors and Accruals
6
**LONG CURRENT LIABILITIES**
Loan 1
Loan 2 - Bounced Back Loan
**UNRESTRICTED FUNDS**
Accumulated Funds
**Add:**
Net movement in funds - Unrestricted funds
Net movement in funds - Restricted funds
Accumulated Funds C/F|**£**
**£**
**£**
**£**
473 874
471 229
76 461
28 348
156 649
134 009
3 152
46 800
5 458
504
241 720
209 661
(10 435)
231 285
(7 681)
201 980
**705 159**
**673 209**
217 375
226 616
21 637
29 565
239 012
256 181
**466 147**
**417 028**
417 028
332 272
49 119
84 756
0
0
**466 147**
**417 028**
**2024**
**2023**|**£**
**£**
**£**
**£**
473 874
471 229
76 461
28 348
156 649
134 009
3 152
46 800
5 458
504
241 720
209 661
(10 435)
231 285
(7 681)
201 980
**705 159**
**673 209**
217 375
226 616
21 637
29 565
239 012
256 181
**466 147**
**417 028**
417 028
332 272
49 119
84 756
0
0
**466 147**
**417 028**
**2024**
**2023**|
|---|---|---|
||
217 375
21 637
417 028
49 119
0|**673 209**|
|||256 181
**417 028**|
|||**417 028**|
APPROVED BY THE BOARD OF TRUSTEES ON …………………………………………………
**AND SIGNED ON THEIR BEHALF BY: ……………………………………….**
Signed **……………………………………………..**
The notes on pages 7 to 9 form part of these financial statements
## **Page 6 THE REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE - SOUTHAMPTON NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1 ACCOUNTING POLICIES**
- **a.** The accounts are prepared under the historical cost convention with the exception of investments which are stated at market value. They comply with the requirements of Statement of Recommended Practice 'Accounting Charities' ('SORP') and are in accordance with applicable accounting standards.
- **b.** General accumulated funds are unrestricted funds available to the church for its general purposes and include funds designated by the Church for a particular purpose; the use of such designated funds remains at the discretion of the Church's Trustees.
- **c.** There is no Restricted Fund at the moment.
- **d.** The governance, management and administration expenses reported in note 3 relate to the whole of the Church's activities and a proportion of these charges are allocated to expenditure headings on a basis consistent with the use of the resources.
- **e.** Investments are stated at market value. It is the Church's policy to keep valuations up to date such that when investments are sold there is no gain or loss arising to previous years.
- **f.** Tangible assets are included at cost and depreciation is provided on a straight line basis, in order to write off the assets over their useful lives.
- **g.** All expenditure is accounted for on an Accrual Basis.
|**The depreciation rates are as follows:**||
|---|---|
|Motor Vehicle|20%|
|Building Improvement|10%|
|Recording Equipment|10%|
|Musical Equipment|10%|
|Computer and Office Equipment|10%|
|Fixtures and Fittings|10%|
|**2 **|**INCOMING RESOURCES**
Collection
Tithes & Appeal
Rental Income
Other Income
HMRC JRS Grant
Building Project Fund
Gift Aid
**TOTAL INCOMING RESOURCES**|**U**|**nrestricted**|**Res**|**tricted**|
**En**|**dowmen**|**2024**
**2023**
**£**
**£**
79 486
67 440
104 689
88 828
28 456
24 168
10 260
8 288
-
-
15 786
49 236
52 955
51 851
**291 632**
**289 811**
**Total Funds**|
|---|---|---|---|---|---|---|---|---|
||||**Funds**
**£**
79 486
104 689
28 456
10 260
-
15 786
52 955
**291 632**|**F**|**unds**
**£**
-
-
-
-
-
-
-|
|**Funds**
**£**
-
-
-
-
-
-
-
-||
||||||-||||
## **Page 7 THE REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE - SOUTHAMPTON NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2024**
|**3. RESOURCES EXPENDED**
**3a.**
_Missionary and charitable giving:_
**3b.**
_Activities directly relating to the work of the Church_
Church - running expenses
Church maintenance
Training conferences and meeting
Expenditure on parish magazine and bookstall
Evangelism
Welfare
**3c.**
_Church management and administration_
Administration
Bank Charges
Loan Interest
Arrangement Fees
**TOTAL RESOURCES EXPENDED**|**U**|**n**|**restr**|**icted**|**Res**|**tricted**|
**En**|**dowmen**|**2024**
**£**
830
**830**
30 401
32 912
3 503
1 059
14 073
19 698
**101 646**
**Total**|**F**|**2023**
**£**
791
**791**
19 803
4 588
2 821
663
9 677
12 356
**unds**|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Funds**
**£**
830
**830**
30 401
32 912
3 503
1 059
14 073
19 698
**101 646**|**Fun**|**ds**
830|**F**|**unds**
**£**
-|
|**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**||||
|||||**830**||-||||||
|||||||-
-
-
-
-
-||||||
|||||||-|||||**49 908**|
|||131 498
2
8 537
-
**140 037**||||-
-
-
-|||131 498
2
8 537
-
**140 037**|||
|||||||-||||||
|||**242 513**||||**-**|||**242 513**|**205 055**||
**4 FIXED ASSETS**
**Computer Land & Motor Recording Furniture Musical & Office**
|**Cost**
At 1 April 2023
Addition
At 31 March 2024
**Aggregate Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net Book Value**
**At 31 March 2024**
**At 31 March 2023**|**building**
**£**
465 505
0
**465 505**
0
0
**0**
**465 505**
**465 505**|**Vehicle**|**Equipmen**|**Equipmen**|**&**|**Fittings**
21 347
1 549
**22 896**|**Fittings**
21 347
1 549
**22 896**|**Equipment**|**Equipment**|**Equipment**|**Equipment**
**£**
4 500
0
**4 500**
4 500
0
**4 500**
**0**
**0**|**Book**
**Total**
**£**
**£**
1 000 529 186
0
7 156
**1 000**
**536 342**
1 000
57 957
0
4 511
**1 000**
**62 468**
**0**
**473 874**
**0**
**471 229**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||**£**
1 099
0
**1 099**
713
43
**756**
**343**
**386**|||||**£**
19 463
5 607
**25 070**||||
|||||||19 541
1 961
**21 502**|||15 933
2 507
**18 440**||||
||||||||**1 394**|||**6 630**|||
||||||||**1 806**|||**3 530**|||
**Page 8 THE REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE - SOUTHAMPTON NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MAY 2024**
|**5 **
**6 **
**7 **|**DEBTORS AND PREPAYMENTS**
**2024**
**2023**
Debtors and Prepayment
76 461
28 348
**CREDITORS AND ACCRUALS**
Other Creditors and Accruals
10 435
7 681
**CLERGY ALLOWANCES**
Pastors Allowances / Wages
57 417
43 333
No employee received remuneration amounting to more than £60,000 in the year.|
|---|---|
**8 FUNDS**
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.
Restricted funds comprise those funds which the trustees are obliged to spend only on particular purposes set out by the donor or in an appeal document
This is an unincorporated charity, constituted by trust deed. It's principal objective is spreading the word and preaching the Gospel of Christ and the life after life. To contribute to the health and educational needs of the community.
It prepares its accounts in accordance with the SORP and with applicable accounting standards.
**Page 9**
**REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE- SOUTHAMPTON FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|**CONTENTS**
**1. CHARITY INFORMATION**
**2. ACCOUNTANT’S REPORT**
**3. REPORT OF THE TRUSTEES**
**4. BALANCE SHEET**
**5. INCOME AND EXPENDITURE ACCOUNT**
**6. NOTES TO THE ACCOUNTS**|**PAGES**|
|---|---|
||**1**
**2**
**3-4**
**5**
**6**
**7-9**|
## **REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024**
**CHARITY NO.:** 1133816 **REGISTERED OFFICE:** 21/25 St Marys Place Southampton SO14 3HY **BANKER LLOYDS TSB**
**ACCOUNTANTS:**
TMA Associates Ltd Accountants & Tax Consultants 4 Hillbrow Close, Bexley Kent. DA5 2HF
**Page 1**
**ACCOUNTANTS’ REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON FOR THE YEAR ENDED 31 MARCH 2024**
We have examined the financial statements on pages 5 to 6 which have been prepared under the accounting policies set out on page 4 for the year ended 31 March 2024.
## **Respective responsibilities of Trustees and Examiner**
The Trustees are responsible for the preparation of accounts, and they consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is our responsibility to
- examine the accounts (under section 43(3)(a) of the 1993 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
- to state whether particular matters have come to my attention.
## **Basis of Opinion**
We conducted our examination in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Opinion**
In connection with the examination, no matter has come to my attention: -
1. which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 41of the 1993 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act. have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**TMA ASSOCIATES LTD 4 HILLBROW CLOSE ACCOUNTANTS & BEXLEY. TAX CONSULTANTS DA5 2HF**
**DATE ..............................…............**
**Page 2**
**REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 4 and comply with the charity’s trust deed and applicable below.
## **Constitution and objects**
Redeemed Christian Church of God, Holy Ghost Zone - Southampton is constituted under a trust deed and is a registered charity number 1133816.
The objects of the charity are worshipping of God, spreading the word and preaching the Gospel of Christ and the life after life. To contribute to the health and educational needs of the community.
## **Organisation**
The trustees who have served during the year and since the year end are set out below: -
Mrs Olabisi Oluwakemi Abu Mr Frank Abu Mrs Ubong Matthias Uttah Mrs Anietie Joseph-Aninmadu
## **Reserves Policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which arise from time to time. Unrestricted funds were maintained at this level throughout the year.
## **Risk Management**
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
**Page 3**
**REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE -SOUTHAMPTON REPORT OF THE TRUSTEES (CONTD.) FOR THE YEAR ENDED 31 MARCH 2024**
## **Trustees’ responsibilities in relation to the financial statements**
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: -
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and 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 reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
**……………………………………………**
## **Date ………………………….**
**Page 4**