THE REDEEMED CHRISTIAN CHURCH OF GOD (“rRcce"} STRONGTOWER MIRACLE ARENA
REGISTERED CHARITY NUMBER: 1138250
THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) STRONGTOWER MIRACLE ARENA
TRUSTEES REPORT AND FINANCIAL STATEMENTS For the period 01 January 2021 to 31 December 2021
GA Harris& Co Chartered Certified Accountants & Registered Auditors Brulimar House Jubilee Road Middleton M24 2LX
THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) STRONGTOWER MIRACLE ARENA
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CONTENTS
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|Page|
|Reference and administrative|details of|the charity and advisers|I|
|Trustees’|report|2+5|
|Independent Examiner’s report|6|
|Statement of|Financial|Activities|7|
|Balance|Sheet|8|
|Notes to the Financial Statements|9-12|
|Detailed|Statement of|Financial|Activities|13|
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THE REDEEMED CHRISTIAN CHURCHOF GOD {“RCCG"} STRONGTOWER MIRACLE ARENA
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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEEE AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021
General Overseer
Pastor E A Adeboye
Trustees
Akinwale A Adesunloye Ayoka Olabisi Christiana Adedoyin Siyanbola
Charity Registration Number 1138250
Principal Office
Crab Lane Higher Blackley Manchester
M9 8NB
Pastor in Charge
Taiwo A. Adegbola
Independent Examiner
GA Harris & Co Limited
Brulimar House Middleton Manchester M24 2LX
Bankers
Barclays Bank Ple 51 Mosley Street Manchester M60 2AU
THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG") STRONGTOWER MIRACLE ARENA
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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees submit their annual report and financial statements of“THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG STRONGTOWER MIRACLE ARENA” (the charity) for the period ending 31 December 2020. The Trustees confirm that the annual report and financial statements ofthe charity comply with the current statutory requirements ofthe charity’s governing document and the provisions ofthe Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005
STATUS
The charity was constituted under a Trust deed dated 25 May 2010 and is registered in England and Wales with charity number 1138250.
APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are elected and or co-opted under the terms ofthe trust deed,
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES The induction process for any newly appointed member of[the][ Trustees][ comprises][ of][an] initial meeting with Chairman and other Trustees, followed by a series ofshort meetings with the Pastor in Charge on the powers and responsibilities ofthe Trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The Church is organised so that the Trustees meet regularly to manage its affairs. The Pastor manages the day to day administration of the Church.
RELATED PARTY RELATIONSHIPS
Strongtower Miracle Arena is a Parish ofthe Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish’s relationship with other parishes is governed by an “Agreement for Common Purposes”.
RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances ofthe charity, and are satisfied systems are in place to mitigate exposures to major risks.
THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) STRONGTOWER MIRACLE ARENA
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TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
OBJECTIVES AND ACTIVITIES
POLICIES AND OBJECTIVES
The objectives of the church are:
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The advancement of the Christian faith worldwide
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The relief ofpoverty
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The promotion of activities that are of benefit to our community.
To achieve these objectives, the following strategies have been adopted by the church:
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Organising conferences and events to address issues of relevance to poverty and provision ofcare and support for the needy as appropriate,
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Collaboration with other charities and organisation which have similar objectives.
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Involvement in economic and community development as well as church planting. > Caring for and reaching out to the needy in the Community through various welfare packages.
ACTIVITIES FOR ACHIEVING OBJECTIVES
The church in pursuant ofthese objectives organised programmes and events which were opened to all during the period, Worship Services and teaching sessions were held weekly with classes for children and teenagers held separately. The church also organised several programmes to reach out to community.
GRANT MAKING POLICIES
The church supports Christian organisations such as World Evangelism Mission, Sister Churches as well as the Festival of Life and also provides support to members of the congregation in need.
VOLUNTEERS
The church is continually grateful for the efforts ofher volunteers who are involved in all aspects ofthe Church organisation. It is estimated that volunteers provided approximately 7,000 hours during this period. If this is valued at £8.00 an hour these efforts amount to approximately £56,000
THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) STRONGTOWER MIRACLE ARENA
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ACHIEVEMENT AND PERFORMANCE
Review of Activities
The Church is open to all members of the community and all programmes are aimed at developing all peoples, With the end of COVID and the opening of all premises, the church programmes continued -Hybrid basis with the Online platforms of delivering programmes continuing.
The Church holds regular Sunday school for adults and Children where the Christian faith and the responsibilities of all within the community is discussed and highlighted. In 2021, 2 Prayer conferences [Amour of Light conference] were held in April and September as well as the Annual Breakthrough conference in the month ofNovember.
There is also a Children and Teenage section where activities to develop the young ones physically, mentally, socially and above all spiritually takes place, through teachings, games, and other activities. As a result ofthe restrictions brough about by the pandemic, the Holiday Bible club was trimmed down and held as a one day activity for children and Children’s Day programmes also took place in June 2021.
The Youth Church (Issachar Generation) hold regular meetings where topical issues affecting them as Christians are debated, with resource persons from both within and without the Church. The Youth also organised a Youth weekend programme in May 2021.
The Church encourages everyone to use the services of the counselling section as soon as they feel the need for it; this is open to all members ofthe community.
The church again reached out to the Community both within and without with the #Love Christmas programme by distributing and sharing food items to those in need of Christmas cheer
The Church also invested in continuous training ofVolunteers - including Church administrators training, Teachers training (Children, Teenage and Adult Sunday schools), evangelism, as well as attending various Conferences, Workshops and Seminars. All the programmes were held Online.
THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) STRONGTOWER MIRACLE ARENA
Investment Policy and Performance
The Trustees have agreed to continue to hold funds for future investments in the interest bearing account.
PLANS FOR THE FUTURE
The church intends to create a reserve fund for investment in tangible assets equivalent to 3 months ofannual expenditure from unrestricted funds. The plans for the church to construct an extension to house the Youth and Children Ministry is still alive but has been delayed due to the pandemic.
The church also intends to work towards the establishment of a parent and child group as well as work with other stakeholders in the community to establish programmes for teenagers and youth as well as activities beneficial to widows and the elders.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report ofthe Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 1993, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view ofthe state ofaffairs ofthe charity and ofthe incoming resources and application of resources, including the income and expenditure, ofthe charity for that period. In preparing
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those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charity SORP.
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makejudgements and estimates that are reasonable and prudent.
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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 proper accounting records which disclose with reasonable accuracy at any time the financial position ofthe charity and to enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions ofthe trust deed. 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 ixregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved by the Trustees on_te/io] 2 and signed on its behalf by:
Trustee 06/10/22
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1 report on the accounts for the year ended 31 December 2021 set out on pages seven to thirteen.
Respective responsibilities oftrustees and examiner ‘The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that en audit Is not sain’required.for this year {under Section 144(2) ofthe Charities Act 2011 (the 2014 Act)) and that an independent examination Is
itis my responsiblity to:
examinethe accounts under Section 145 of the 2011 Act to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 446(5)(b) of the 2041 Act); and to state whether particular matters have come to my attention.
Basts of the independent examiner's report My examination was carried out inaccordance with the General Directions given by the Charity Commission.An examination includes a feview 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 acoounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide alt the evidence that would be required In an audit, and consequently no opinion Is given as to whether the accounts present a ‘true and fair view * and the report is limited to those matters gat out in the statements below.
independent examiner's statement Ineennectionwith my 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 130ofthe 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements ofthe 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn inorderto enable a proper understanding ofthe accountsto be reached.
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JubileeBrulimarG A Harris Road House & Co Ltd 4 CHARTEREDGAHAR: RISACCOR & 4
Middieton BRULIMAR HOUSE, JUBILEE j
Manchester TE: irtrrbitey MANCHESTER, ne i
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6" October 2022
ST
TISTRISUCNIOPINCTO CSI ce
REDEEMED CHRISTIAN CHURCH OF GOD STRONG TOWER MIRACLE ARENA
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Statement Of Financial Activities
For the year ended 31st December 2024
Notes Unrestricted2021 Reatricted2021 Total2021 Total2020
Funds Funds funds hunds
£ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds
Vohintary income 2 83,290 4,441 67,731 70,648
trvesiment income 3 2 2 10
Government Grants . - 9,807
Lottery Grants 9,008 9,985
Total Incoming reaources 93,287 4441 07,728 80655
RESOURCES EXPENDED
Charitable activities 4
Other charitable activities 42,367 42,357 24,407
pecnelln $2,458 92,458 18 489
Finance cost ‘198 4,408 1,301 4,765
Governance costs 6 2,741 2,744 2,500
Total resources expensed 77,752 7,105 78,667 46,181
NET INCOMING RESOURCES 18,535 3,336 18,871 36,474
Funds brought forward from previous pertod 403,712 17,436 121,148 85,074
TOTAL FUNDS CARRIED FORWARD 115247 20,772 140,019 127,148
CONTINUING OPERATIONS
All incoming rasources and resources expended ariae from continuing activities.
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Tha notes form partof these financial statements
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REDEEMED CHRISTIAN CHURCH OF G00
STRONG TOWER MIRACLE ARENA
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Balance cheet
As at $istDecember2021
Notes Unresticted —-Reslricted 2021Total Totat2020
funds funds Funds Funds
e £
FIXED ASSETS
Tangible aseets 8 107,766 107,768 68,210
CURRENT ASSETS
Cash at bank 40,054 21,649 91,703 66,045
Prepaymentsand accrued income . - 870
CREDITORS
Amounts falling due withinone year g * 10,193 + 10,133 . 2,567
NET CURRENT ASSBTS 39,024 21649 $1,870 34,348
TOTAL ASSETS LESS CURRENT LIABILITIES 197,680 21,048 189,336 180,564
CREDITORS
Amounts falling due after more than one year * 19,340 «= 10,319 « 20,416
NET ASSETS 118,370 21,649 440,018 424,148
FUNDS
Unrestricted funds 110,247 108,742
Reatricted funds 20,772 17,AX
TOTAL PUNDS LURE FEIN
‘The financial etataments were approved by the Board of Trustees on 08/10/22 and were signedon Its behalfby:
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ON BEHALF OF THE BOARD:
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The notes form partof these financial statemants
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Notes to the Financial Statements For the year ended 31st December 2021
- ACCOUNTING POLICIES
REDEEMED CHRISTIAN CHURCH OF GOD
STRONG TOWER MIRACLE ARENA
Accounting convention ‘Tha finnactal statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Financial reporting etandard number 1 Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a smal charity.
incoming resources All incoming resources are included on the Statement of Financia! Activities when the charity Is fegally entitled to the Income and the amount can be quantified with reassonable accuracy.
Resources expended Expenditure ts accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the useof resources.
Tangible fixed assets Depreciation is provided at the foliowing annual ratee In orderto write off each asset over its estimated usefut life. Freehold property =Nil Music equipment ° 25% on cost Fixtures and fittings - 25% on cost Motor vehicles = 25% on cost Computer equipment ~ 25% on cost
Taxation ‘The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfunds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restriction arises when specified by the donoror when funds are raised for particular restricted purposes, Further explanation of the nature and purposeof each each fund is included in the notes to the financiat statements.
2. VOLUNTARY INCOME INCOME
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VOLUNTARY INCOME INCOME 2021 2020
£ £
Tithes $7,187 47,868
Offerings 15,470 11,932
Thankegiving 2,310 1,193
Building 444 708
Git Aid 4,385 7,966
Other income 3,938 1,183
87,731 70,648
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REDEEMED CHRISTIAN CHURCH OF GOD STRONG TOWER MIRACLE ARENA
Notes to the Financial Statements - continued For the year ended 31st December 2021
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3. INVESTMENT INCOME 2021 20620
£ £
Deposit account interest 2 10
4. CHARITABLE ACTIVITIES COSTS Direct Support Total
costs costs costs
(see note §)
2020 2020 2020
£ g £
Other charitable activities 42,387 42,357
Donation - =
Support cost $2,458 $2,468
Finance cost 1,301 1,301
—“Ret. 758 ete
6 SUPPORT COSTS Management Finance Totels
£ £ £
Support cost 32,458 32,458
Finance cost ee OT — 1904
ae
6. GOVERNANCE COSTS 2021 2020
£ £
Accountancy fees 480 480
Legal and professionat 2,261 2,020
2,744 2,500
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- TRUSTEES’ REMUNERATION AND BENEFITS There were no trustees’ remuneration other benefits neither for the year ended 31 December 2021 nor the year ended 31 December 2020
Trustees’ expenses There were no trustees’ expenses pald neitherfor the year ended 31 December 2021 nor the year ended 31 December 2020.
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REDEEMED CHRISTIAN CHURCH OF GOD STRONG TOWER MIRACLE ARENA
Notes to the Financial Statements - continued For tive year ended 31st December 2021
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|---|---|---|---|---|---|---|
|8|TANGIBLE FIXED ASSETS|Freehold|Music|Fidures|
|Property|equipment|& fittings|
|£|
|COST|
|At ist January 2021|89,259|9,668|17,503|
|Additions|14,892|2,933|
|At|3tatDecember|2021|89,259"|24,580|20,436|
|DEPRECIATION|
|At ist January 2024|-|9,304|14,282|
|Charge|for the year|-|a|1,538|
|At|31st|December|2021|a-|mmcimmetnomnsta’|pee18,820ety|
|NET BOOK VALUE|
|At 349t December|2021|89,259|41|487|4,616|
|At 31st|December|2020|89,259|584|3,221|
|Motor|Computer|Totals|
|vehicles|equipment|
|£|£|£|
|cost|
|At ist January 2021|-|8,073|124,723|
|Additions|-|95|17,720|
|At|31st December 2021|-|8,168|142,443|
|DEPRECIATION|
|At 1st January 2021|-|4,920|28,506|
|Charge for the year|812|8,169|
|At 31st|December|2021|-|§,732|A875|
|NET BOOK VALUE|
|At|31st|December2021|-|2,438|107,768|
|At 31st|December 2020|“|2,742|96,217|
|2.|CREDITORS: AMOUNTS FALLING DUE|WITHIN ONE|YEAR|2021|2020|
|£|£|
|Trade creditors|-|
|Bank loan|7,275|1,674|
|Other taxes and soclal security|§32|218|
|Accruals|624|624|
|OtherPension Creditors Contributions|1,576oe|oe|54|
|10,133|2,567|
|40.|GREDITORS:|AMOUNTS FALLING DUE|AFTER MORE THAN ONE|YEAR|2020|2021|
|£|£|
|Bank loans (see note 11)|19,319|20,416||
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REDEEMED CHRISTIAN CHURCH OF GOD STRONG TOWER MIRACLE ARENA
Notes to the Financial Statements - continued For the year ended 31st December 2021
11. LOANS
An analysis of the maturity of loans is given below:
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|---|---|---|---|
|2021|2020|
|£|£|
|Amounts|failing due between|two and|five years:|
|Bank loans 2- 5 years|14,253|14,253|
|Amounts falling due|in more than|five years:|
|Repayable otherwise then by instalments:|
|Mortgage|88,|«15,183,|
|12.|MOVEMENT JN FUNDS|
|As|at|Net movement|As at|
|01/01/2021|in funds|31/12/2021|
|£|£|£|
|Unrestricted funds|
|General fund|103,712|15,535|119,247|
|Restricted funds|
|Restricted|17,436|3,336|20,772|
|TOTAL FUNDS|121 1148|18,871|140,019|
|Net movement in|funds,|included|in the above are as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funde|
|General fund|93,287|77,752|15,535|
|Restricted funds|
|Restricted|4,441|1,105|3,336|
|TOTAL FUNDS|ie|est|Le|
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REDEEMED CHRISTIAN CHURCH OF GOD STRONG TOWER MIRACLE ARENA
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Detailed Statement of Financial Activities For the yoar ended 31st Decomber 2021
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|2021|2020|
|INCOMING RESOURCES|
|Voluntary Income|
|Tithes|87,187|47,669|
|Offerings|15,470|11,932|
|Thanksgiving|2,310|1,183|
|Bullding|4,441|708|
|Gift Aid|4,386|7,966|
|Grants Received|9,995|“|
|Other Incone|3,938|1,183|
|Government Grante|9,997|
|97,728|80,645|
|lavestment income|
|Deposit account interest|2|10|
|Total Incoming resources|97,728|80,655|
|RESOURCES EXPENDED|
|Charitable activities|
|Wages and salaries|15,797|42,606|
|Staff|Pensions|249|172|
|Welfare|1,242|443|
|Evangelism|6,480|3,144|
|Transport& travel|3,162|2,489|
|Training, retreats and conference|1,668|1,699|
|Mission|9,909|4,843|
|Gifts|&|donations|-|
|Honorarium|3,138|1,660|
|Hospitality|
|Equipments Multimedia|712|462|
|42,357|24,407|
|Governance costs|
|Accountancy|480|480|
|Legal|& professionalfees|2,261|2,020|
|2,741|2,500|
|Support costs|
|Management:Insurance|1,897|977|
|Light& heat|942|1,018|
|Telephone|1,843|1,706|
|Gain Loss on Financial|Aseet|«|
|Rates|196|189|
|Printing & stationery|10|158|
|Repairs & renewals|16,063|2,080|
|Church|office|expenses|623|718|
|General expenses|678|429|
|Motor& travel|expenses|4,437|6,902|
|Depreciation:|
|‘Music|equipment|3,819|196|
|Fixtures & fittings|1,838|1,073|
|evel|812|1,081|
|Computer°|equipment|Te|6480"|
|FinanceBank charges costs& interest|4,301|1,786|
|Hire|purchase|NSOS|ae|Rccepniemains|
|one|1,301|1,785|
|Total resources expended|78,887|45,181|
|Net Income|16871|KILN|
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