REDEEMED CHRISTIAN CHURCH OF GOD RCCG (HOUSE OF THE LORD) FIIYANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2024. CHARITY NUMBER 1135180
RCCG (HOUSE OF THE LORD) INDEX Content Page Index to the content Trust¢es Report 24 Accountants Certiticate Income and Expenditure Account Balance Sheet Notes to the Account Page I
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF THE LORD TRUSTEE REPORTS FOR THE YEAR ENDED 3151 DECEMBER 2024 The Trustees have the pleasure of presenting their annual report together with the accounts for the year ended 31" December 2024. TRUSTEES The members of the trustees during the year were: Deaconess Adeyoola Atinuke Turkson Minister Olufemi Adeniji Minister John Owusu MINISTER IN CH.4RGE Pastor Ebo Turkson OBJECTIVES & ACTIVITIES The objecliv¢s ofthe RCCG-HOUSE OF THE LORD are: l. The advancement of the Christian faith worldwide 2. The reliefofpoverty These objectives are pursued by the operation of a centre for Christian worship at Wally Foster Communiiy Centre. Marsh Hill, Homerton Rd. London E9 5QB. The principal activiiies of the Church are Christian worship. Christian outreach programmes to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man, spiriiually. mentally and physically. There are a number of volunteers who assist in helping to achieve the objectives. DEVELOPMENT ACTIVITIES & ACHIEVEMENTS IN THE YEAR The charity is committed and is successfull), ministering to the need5 of the various social groups within and outside thc Church. The charity provides forum for manpower development for its members to be equipped educationally, socially and spirilual ly. To enable ihe charily to meet the needs of every ag¢ group there are different forums created: (i) The Children Church - for children ages 3 - 12 Youth Group - Ages 13 - 20 (iii) The Singles Fellowship- unmarried males & females from age 21 (iv) The women s t"ellowship- for all married women (v) The Men s group- for all married men (vi) The Elders. Forum- for all men & women aged 50 and above These giroups meets monthly to fellowship together, discuss and encourage one another on issucs (socially and spiritually) PeCU&iar to th¢ r¢spective groups. Page 2
They are also given a day in the year to demonstrate their impacl and create an aw'areness lo the Church. To meet the spiritual needs of the members and ihe development of the total man, Believers class. Volunteers training classes were run during the year. Water baptism was conducted during the year for people that gave their lives to God and passed through the n¢Lessary teaching class. We sent financial support to other charities and also actively and strongly support the World Evangelical Mission and the biannually held Festival of Life prayer event of the RCCG which aims at furthering the Christian faith all over the world. To relief poverty. Ihe Charity has a welfare scheme where people's need are met physically and financially in additional to the spiritual assistance given. FUTURE DEVELOPMENTS The charity aims as part of fvlfilling its objectives to create more t"acilities and progjrams that w ill help develop the whole man, spirilually. menially and physically. We aim to also increase our relevance to the community by investing time. energy and money into activities and programmes that will help prevents youth crimes, depressions in people, child abuse and such social vices that are eating deep inlo the fabric of our society. REVIEW OF FINANCIAL POSITION Please refer to the account for the details of the financial statements for the period ended 31 December 2024. The charity has a reserve policy in order to ensure the ongoing delivery of its charitable objects during any unforesecn downturn in income. There is also an additional need io accumulate rcserves in order to provide for the future development of the charitj s facilities. The charity's principal funding source continues to be the individuals who attend 5erviLes offered by the charity in ternis of Sunday and midweek services. STATEMENT OF TRUSTEES, RESPOIYSIBILITIES The Charities Act requires the Trustees to prepare financial statements for each financial )ear 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 thal period. In preparing these financial statements. the trustees are requested to: Select suitable accounting policies and then applj. them COT]SiStently Make judgements and eslimates that are rOnable and prudent State whether applicable accounting standards and statements of Terommended practice have been followed. subject to any departures disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropri4ite to presume that the charit! will continue in opcration. Page 3
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at an). time the financial position of the charity and to enable them to ensure thai ihe financial staiernents comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence f.or taking reasonable steps for the prcveniion and detection of fraud and other irregularilies. APPROVAL Approved b), the board of trustees on the . and signed on its behalf by- TRUSTEE: Adeyoola Turkson DATE: Page 4
RCCG (HOUSE OF THE LORD) ACCOUNTANTS CERTIFICATE ST FOR THE YEAR ENDED 31 DECEMBER 2024. 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; inforniation and explanation supplied to us by the trustees, and certify that they are in accordance there-in. Topson & Co (Accountants) 24 Harbour House Coldharbour Lane Rainham RM13 9YB Page 5
RCCG (HOUSE OF THE LORDI STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 SUMMARY INCOME AND EXPENDITURE ACCOUNT. N¢>t*s Unrestricled Restricted 2024 2023 INCOMING RESOURCES Donations 25072 25072 21705 Other voluntary income 1703 1703 2186 Charity and ancillary trading Income from Investment 324 324 133 TOTAL INCOMING RESOURCES 27099 27099 24024 RESOURCES USED Grants 5209 5209 8140 Direct parish expendrtu 13653 13653 15717 Administration TOTAL RESOURCES USED 1936 19362 24357 NET INCOMING RESOURCES 7737 7737 -333 BALANCES BIF AT BEGINNING OF YEAR 33377 BALANCES CARRIED FORWARD 40781 40781 33044 Page 6
RCCG IHOUSE OF THE LORDI BALANCE SHEET AS AT 31st DECEMBER 2024 2024 2023 Fixod assets Tangible asset$ 10 Current assets Cash al bank and in hand Debtor Creditor.. amounts falling due within one year 41281 33544 Nel current assets N•t curr•nt assets l¢ss curr8nt liabilitles 40781 33044 40781 33044 Funds Restricted fund$ Unrestricted funds Total funds 40781 40781 33Q44 33044 Page 7
RCCG (HOUSE OF THE LORDI NOTES ON FINANCiAL STATEMENTS For the year 31st December 2024. 1. Accountlng Policie$ The finanGial slalement5 have Pfepare(i under the historical o)sl cOnvenn. and in acrdanCe th the statement of Recommended practice. accounting and Reporting by Charities ISORPI issued In oober 2005. applicable accounling standards and companies Act 21)]6. 2.Donations Unrestri¢t•d Funds Restricted Funds 2024 2023 Tithes Offerings Others 14750 4322 14750 4322 16565 5140 25072 217 3.Other voluntsry Income Thanks giving MMI week colLe¢tion 962 741 170 1480 705 2185 741 1703 4.Income trom charitable and ancillary trading Books and tapes 4a. Income from Inv*stsnents 324 324 133 5.Gr•nts pald Missionary and charrtab giving.. Wem Central office Mission 4159 600 450 5209 4159 4240 450 5209 3300 8140 6.Dir¢¢t parish oxpandlture Church - running cost.. rent and rates Omc/Conlerences Repairs Retreat ststioneryladmin Welfare Honcsrarium Bookslco's TelephonellT depreciation. musical instruments 12000 536 12000 679 536 2385 350 100 600 78 339 200 103 78 13653 13653 15717 Page 8
7.Admini$trative expendlture Accountants fee bank charges 500 8.Net movement in funds for the year The net movement in fvnd for the year ts slated after charging.. 2024 Depreciation on tangible assets Accountants remuneration 9.staff cost Minisiers remuneration paid in the year amounted io Other Volunteers Cost 10.Tangible fixed ass•ts Used directly for the parish purposes cost at 1st January 2024 Additon during the year Gross book value at 31st Dec. 2024 Deprechation At 1 sl January 2024 Charge for the year Al 31st De¢. 2024 Net book value at 31 De¢. 2024 Nel book value at 31 Dec. 2023 Key Board 3779 3779 3779 3779 All fixed assets are used directly for the church purposes. 11.Creditors: amounts tslling due within one year Accounlanls fees Rent Wem 500 Page 9