ill825• ' THE RKDKEMED CHRisrtAN CHURCH OF GOD fRCCG") sfRONGTOWER MIRACLE ARENA TRUSTEL8 REIIORT AND FINANCIALSTATEMENrs F•r th• p•rlod 01 J•nuAry 2•23 ¢• 3J D•e•mb•r 2023 GA H*Frb th C Ch•rt•Y•d C•rlllknJ R4*r•d A•dl¢•n BY*Mm•r How• J¥bll# Rold Mlddl•ts• k¢fer￿ and 4dmlni#rnil￿ ￿￿11$ of the ohfflty and adv1# BxamlMr'8 l•POrt 8tathm•rtof Flfft•nohl A¢thilt 9-12 D*t•lled Ststanrt of Fln•mlal A¢¢lvi¢l 13 TRUSTEEE AND AD￿SER$ FOR THE YEAR ENDED 31 DECEMBER 2023 Akinwale A Ade￿n10yr Ayok• Olibi Chrltt5AM Adwn Sty4Enbol4 Cknrfty f4Mnb•r 11382SO PYlNdpal Ollle• Crab La Hl8h¢r Bl•¢khy M9 SNB PMt•rl• Ch*rye Tllwo A. Ade8bpl1 OA H•rrts & Co Llmlthd Mlddld Bov¢lay8 Bank Pkt M60 2AU THE REDEEMED CHRISTIAN CHURCH OF GOD I°RCCVI STrONGTOWER MIRACLE AREIIA TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees submit their annual repcrt and financial ststementg of 'THE REDEEMED CHIUSTIAN CHURCH OF GOD-RCCG STRONGTOWER MIRACLE ARENA" (the ch￿lty) for the period ending 31 Decemb¢r 2023. The Trnstees ¢onfirni that the annual retK)rt and financiAI statements of the charity comply with the current statulory rwuirements of the Charity's governing document and the provisions of the Statement of Recommended Pwtice (SORP) "Aceounting and Reporting by Chariti¢s- issued in Maroh 2011. STATUS The charity wa$ Constitut￿ under a Trust dced dated 25 May 2010 and is registered In England and Wales wiib charity number 1138250. APPOINTMENT OR ELE￿[oN OF TRUSTEES Trnstees are elected and or co.opted und¢r the lems of the ttust deed. POLICIES ADOPTED FOR THE INDu￿10N AND TRAINING OF TRUSTEES Th¢ induction proee5s for any newly awinted m¢)mber of the Trustees comprises of an initial me¢ting with Chairnjan and other Trustees, followed by a series of short meetings with the Pastor in Charge on the pow¢r5 and resp)nsibiliiie8 of thc Trn81￿￿. ORGAIYISATIONAL sTRU￿lRE AND DECISION MAKING The ChurGEL is or8anised so that the Trustee8 meet r¢gularly to manage its affairs. Th¢ Pastor mana8es th¢ day.t041ay administration of the Chur¢h. RELATED PARTY RELATIONSHIPS Strong¢ower Miracle Ar¢na ig a Parish of the Redeemed ChrisliAn Church of God (RCCG) which ha8 parishes all ovw the world. The pari$h's relationship with other parishes is 8ovemed by an "A8retm¢nt for Cominon Purpos¢s" RISK MANAGEMENT The Trustees have assesscd the major r.sks to which the charity 1$ exposed those related to operation8 and financ¢s of the charity, and are sa1i5fi¢d 8yStems are in place to mitigate ¢xposures to major risks. THE REDEEMED CHRISTIAM CHURCH OF GOD {°RCCG°I STrONGTOWER MIRACLE ARENA TRUSTEES, REPORT (CONfINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECTIVES AND ACTivrriES POLICIES AND OBJEcfivES Thc objectives of the church are: > The advancement of the Christian faith worldwide > The r¢lief of poverty > The promotion of activities that of benefit to our community. To achieve these objectives, the following stratC8ie8 have been adopted by th¢ ohurch: > Organising conferenc¢s and cvent$ to addr￿5 is8u¢s of relevance to poverty and provision of care and support for the needy as appropriate. > Collaboration with oiher charities and organisation which havc similar obj￿tIVes. > Involvemenl in economi¢ and c¢)mmunity developmont as wcll as church planting. > Carin8 for and rea¢hing out to the needy in thc Community through variou8 welfare packag¢8. AcfiviTIES FOR ACHIEVING OWECTIVES The church in pursuant of the8e obj¢ctives organised pro8ramme8 and events which wcre Or￿n￿l to all during the period. Worship S¢rYice$ and t¢aching $¢ssions werc held weekly with ¢18sses for ehildren and teenagers h¢ld separately. Thc chuwh also or8anised several programmes to out to community. GRANT MAKING POLICIES The church 5UPPOrts Christian organisations Such as World Evangelism Mission, Sister Churche8 as w¢ll as the Festival of Llfe and PTovides 8UPPOrt to members of the ¢on8r¢gation in n¢¢d. VOLUNTEERS The church is continually 8rateful for the ¢ffort8 of her volunteer8 who are Involv￿ in all aspects of Ihe Church organisation. It 18 ¢Stimated that voluntttrs provideAI approximately 12,000 hours duringi this period. If this is valued at £1 1.40 hour thes¢ efforts amount to approximately £136,800, THE REDEEMED CHRISTIA14 CHURCH OF GOD I"RCCfjI STRONGTOWER MIRAaE ARENA ACHIEVEMENT AND PERFORMANCE Revlew of Aetivltles The Church is open to all members of the community and all programmes a￿ aimed at the wholesome development of everyone. Some of the Church meetings aT¢ held on hybrid basis with IM)th the Physical and Online c0m1nuniti￿ srndually growing. Th¢ Church holds regular Sunday school for adults and childrni where the Chri8tian faith and th¢ responsibilities of all within the community Is discussed and highlighied. In 2023, the InteTcessory Unit organised conferences lo commemorate the Passovcr and Pentecost as well as the Feast of Rosh Hashanah in April and September. This wa8 in addition to a joint Prayer Conference in the month of February. A weekly praycr hybrid meeting takes pla¢¢ evcry Saturday morning. The Children church was vibrant during 2023 with activities to develop the young ones physicAIIy. mentally. socially &nd above all spiritually taking place, through teachings, games, and other activities. A i)ntrweek Holiday club wa$ organised for th¢ Children in Community touching on several subjects matters including ¢motional intelligence as w¢ll 8s identifying and encourdging their creative skill$ witli sessions on crafts and building with blocks; inGludeJJ wa8 a day out to Blu¢ Planet Aquarium. The Youth Church (Issachar Generation) held regular meetings where topical issue$ relating to their growth and maturity were explored utili3ing resource persons from both within and without the Church. The Teenage Chureh also ¢ommenced regular meetings in their own space with the ¢onstrnction of the Church exten8i¢)n. The Chuwh encourn8e8 ¢veryoo¢ to Use the 8ervic¢8 of the ¢oun8ellin8 S¢Ction as Soon as Ihey f¢¢1 the need for it,. this is open to all members of th¢ community. Th¢ Churcb also invested in continuous troining of Voluntocrs- in¢luding Church admini8tra¢ors training. Teacher's training (Children, Teenage and Adult Sunday schools), evangelism. as well as attending Vario￿ Confere￿¢S, Workshops and Seminvs. All the programmes werc held Online. The Church in th¢ year providcd hampers of love to members of ihe wider ¢ommunity as part of CSR, in addition lo wmmen¢ing a week]y warni space pro8ramme Investment Pollcy and Performance The Trustees hav¢ ogreed lo ¢ontinue to hold ￿ndS for fvture investments in the in¢¢rest-bwing account. PLANS FOR THE FUTURE The ¢hurc'h intends lo create a ￿serve fund for investment in tangible assets equivalent to 3 months of annual expenditure from unr¢stricled funds. The chur¢h is still working on the plans to e8tablish a parent and c.bild group as well as work with othcr stakehold¢r8 in the community to establish progrnmmes for teenag¢rs and youth as well as activities ben¢ficial to widows and th¢ ¢lda3. ThE REtEEMED CHRISTIAN CHURCH OF GOD i*ccrfI sfROIIGTOWEII mIRP￿ARE14A STATEMENT OF TRUSTEES RF￿P0Ns1BjL1TllES The trustces are r¢sponsible ftir PTepaAin8 the RepN)rt of the Tntyt¢es and the financial statements in accordance with applicable law and United Kingdom Ger￿llY AcWqnd•d 318t O•¢•mbw X*23 TANOlbLe Aa8ET8 Foohold k4u* •Wpm•ht FLYbJre• 11¥1 Jarw2023 ttbn$ ' 31•t Dgwrtw2023 1￿,114 29,564 8,453 OEPRECIAT1ry4 At 18tJarrt•ry 2023 Chw9¢ for th• ytr•r At 31￿ De(¥mb•r 2023 17.2JJ 3,972 18.973 pier BOOK VALUE At 31$t D•c¥mb•r2023 11.910 At 31•t D•e•Th*•r2022 Ctynmrt•r Totsll At 181 J•rwry2023 8,1e8 154282 Al 3181 L)K•rnt•r2023 17 oEpAecNTK)N Al l¥t J•MAry 6,841 457 40,640 At 318t D•e4n*w 2023 47 NtT DOOK VALUE At 31￿ Doctmbvr2C12) At311l O•c•rnb•f 2C122 1,827 CREDITOR8: AIK)UNTS PALLWG DUE 111Th1N ONE YEAR 2023 Trad• ￿￿k lo•n Other lam￿ •odo1 #e 1,674 179 474 OW*r GrnOMorn 39 10. IM• 11) Pw11 REtIEEIIIED CHRI8TIAN CHURCH OF GOD 4TRONO TOWER WRACLE AReMA For tho y••r •nd•d 31st D•C￿b•r 2023 11. LOA148 w•fysl• ofth• matrxlty ol lo•n• l• d¥an bllw: 2023 21)22 Afflo￿ts hllng du• b•lw••h and flv• y•• Bank lo•n• 2. 5 y•&r* Anw)unts thJ• lft morn th•n fiv• Y•￿,. R•p*y•bl• oth•rA•• Ih•fi ty In•l*lm•nts: 0rt9ag• 12. IAOVEIIENT IN FUND8 Not ftmm• In •Jnd• A••1 3111212023 01ffj112023 1J2,802 22,201 164.809 R••lrfcl•d 21,242 703 21,H6 roTAL FUM 13 178 748 N•t In l￿dI, In lh• •bov• •r• a• follgw&' Incomlng r•iouro•• •xp•nded In ILY￿# Genw41 fvnd 128.336 104,136 22,201 R••l•lct•d R•¥trteted 703 703 TOTAL FUIIDS Pw12 REDEalED CHR18YIAN CIKIRCH OF QOD IhtrH•d stsi•mgn¢ of Fhwn¢lalActMII•A Forlh• y••r•nd•d a1•t O•eomb•r 202J Vol￿t•ry Inwn• eo,7S8 21.829 82,676 16,035 1021 470 7L%4 21,121 Glft Akl GrAnl• I1￿ 19,524 128,91 IRv••kn•nt In¢orn• 120 Tof•l In¢4mlw mour￿1 27. 18,408 18,697 - 212 3,612 IIIX13 Sl•ff P•n•lon• W•lts E¥wg•l*m Tr•n•port & tr•4 Tr*nI￿, MlY••ts ¢¢rth• L4.813 2,951 1a,082 25,391 3.027 3,937 2.700 144 MAn•g•Thnl.' 1,17S Uofl & h￿1 1,119 1.s43 GalThl Lo•• on PrlnlThJ & •tth*ry 8048 918 4.437 1.397 4,067 & tr*vd fryrws D•pf•d•lon'. 3,•Y2 2,979 4.110 1,154 FlxfftK•B & fftII 21. BArd( Hlv• MYtha8• 104,135 ,123 13 P•p 13