Trustees Report and Financial Statement
For the Year Ended 31 December 2021
For
RCCG Overcomers House, Gloucester
Charity Registered Number : 1139919
RCCG Overcomers House, Gloucester
Contents of the Financial Statements For the Year Ended 31 December 2021
Reference and Administrative Information
Trustees Report
Profit and Loss Account
Balance Sheet
Notes to the Financial Statements
| RCCG Overcomers House, Gloucester | RCCG Overcomers House, Gloucester |
|---|---|
| Reference and Administrative Information | |
| For the Year Ended 31 December 2021 | |
| Charity Name: | **RCCG Overcomers House, |
| REGISTERED OFFICE: | 28, Hildyard Close |
| Hardwicke | |
| Gloucester | |
| GL2 4PZ | |
| TRUSTEES: | Mr. Oghenekobaro Lucky Oyadah |
| Dr. Kolawole Olusola | |
| Mrs. Abiola Oyekemi Ladipo |
REGISTERED CHARITY NUMBER: 139919
RCCG Overcomers House, Gloucester
Trustees Report For the Year Ended 31 December 2021
The trustees of RCCG Overcomers House, Gloucester present their report with the financial statements of the Charity for the period 1st January to 31st December 2021, in accordance with statement of recommended practice “Accounting and Reporting by Charities”.
GOVERNING DOCUMENT
The Governing documents of the Charity are the Trustee Deed and RCCG Agreement of Common Purpose dated 31st August 2010.
VISION AND OBJECTIVES
The Charity’s vision and objectives are:
1) The advancement of the Christian religion in Gloucestershire and worldwide.
2) To seriously and actively get involved in processes of relief of poverty
3) To impact the community in every positive way possible
4) To establish and maintain development projects in small scale economic sector
5) To provide counselling advice, resources and services to those affected by social and economic circumstances
6) To help individuals to discover and bring into actualisation their destinies and maximise their potentials
RECRUITMENT AND APPOINTMENT OF TRUSTEES
Trustees are appointed on the basis of the contributions and skills they contribute to the governance of the organisation. Among other criteria, appointment is also made by spiritual guidelines and biblical qualities that mirror Christ-like attributes.
VOLUNTEERS
The Charity is grateful to its band of volunteers for their efforts towards meeting the objectives. It is estimated that over 5,300 hours were volunteered during the year. If conservatively valued at £9.50 per hour, this will amount to over £50,350.00.
PRINCIPAL FUNDING
The Charity's principal funding is through its members’ contributions, tithes, and offerings; and donations and gifts from donors, supporters, partners and friends of the church.
REVIEW OF ACTIVITIES
The Charity continues to meet its Charitable objectives and enjoyed tremendous growth in its physical and spiritual life during the year, and also in the advancement of the Christian faith in accordance with the doctrines set out in the Statement of Faith, as contained in our Trust Deed and RCCG Agreement of Common Purpose.
INVESTMENT POLICY
The Trustees have decided that, at present, funds should be retained in bank for the running of the Charity and for the renovation of the church building.
RISK MANAGEMENT
The trustees have assessed the major risks to which the Charity is exposed, in particular those relating to specific operational areas and its finances. The trustees believe that by monitoring reserve levels, ensuring controls exist over key financial processes, and by examining the operational and business risks faced by the charity, have established effective systems to mitigate these risks.
PUBLIC BENEFITS, CHARITABLE AND COMMUNITY DEVELOPMENT PROJECT
Though the Charity has not yet recovered from the impact of Covid-19, it was able to achieve her objectives in this financial year, through the provision of charitable support in accordance with its principal objectives. The process of development, planning and implementation have continued in the last year, during which the Charity has been successful in meeting its objectives of furthering the Christian faith and alleviating the suffering of people generally, irrespective of their race, background, gender or faith.
The efforts of the Charity were geared towards supporting the programmes of our local council; promoting cohesion in our community; and positively impacting the lives of the young people and the elderly. The church organised a major conference in the month of September. The three-day event was attended by people from diverse races, religion, and gender within and outside the community. The conference focused strongly on how to be empowered to face the challenges of life in the midst of economic crisis.
The Charity organises “Continuous Development Programmes” (CDP) for its volunteers and members annually. Those for the year were: Workers Retreat: which took place in the month of February; a 3-day Ordained Ministers Conference was in the month of April; and the ongoing Family Mentoring Programme for young couples.
The charity is keen to develop strong family life within the community and nation in general. To this end, it organised and conducted a Women's conference in the month of November. The conference was attended by women from different backgrounds. The three-day conference addressed issues of parenting, childbearing, childcare and child education, as well as career development among women.
.
At present, the charity has two qualified and licensed Parenting Facilitators. These resource persons have been providing parenting counselling services to members of the church and the community.
It also sourced various training programmes to equip more church volunteers with the relevant counselling skills that will help them serve the community better.
The Church supports missionary and charitable organisations, such as, the Festival of Life, World Evangelism Mission, Habitation of Hope, African Mission, and other missions and projects. Similarly, our members volunteer regularly at elderly care home. The church also provides support to members of the congregation who are in need at the discretion of the Trustees. In furtherance of the objectives and goals, the charity invested in its members who have shown commitments and assisted in different capacities over the year to further the aims of the Charity.
We give glory to God that the building purchased by the charity (Former United Reform Church) in the heart of Gloucester City centre is now the operating centre of the charity, though much renovation is needed.
PLAN FOR THE FUTURE
The trustees have set out some of the main visions and objectives of the Charity. For these objectives to be fully achieved, it plans to radically step up its charitable activities. The charity will work tirelessly to renovate the basement hall of the church which is planned to be used as community hall to serve the people of Gloucestershire and to establish children facility as well.
Also, in the coming year, the Charity will continue to provide charitable supports in accordance with its objectives, concentrating on developing plans to contribute more to the alleviation of poverty and empowerment programmes and projects.
ON BEHALF OF THE TRUSTEES
...........................................
Chairperson
...............................................
The Redeemed Christian Church of God Overcomers House, Gloucester Income and Expenditure For the year ended 31 December 2021
| 2021 £ Income: Offering 41,582 Tithe 67,734 Thanksgiving 6,975 Building Fund & Other Income 60,634 Total Income Received Cost of Generating Income: Accountancy Fees 500 Advertising & Insurance 3,869 Charitable Events & Donations 69,211 Depreciation 12,458 Legal Fees 0 Honorarium 6,682 Mortgage, Rent & Rates 32,612 Music & Books 677 Printing, Postage & Stationery 1,896 Repairs 238 Sundry Expenses 1,624 Telephone & Internet 3,005 Training & Conference Costs 2,392 Travel Expenses 5,392 Wages & Salaries 144 Total Expenditure Paid Net Surplus/(Deficit) |
2021 2020 £ £ 44,108 48,410 5,000 16,221 176,925 176,925 500 3,735 73,712 10,922 264 4,529 26,409 1,492 746 992 1,208 3,733 166 162 144 140,700 36,225 |
2020 £ |
|---|---|---|
| 113,739 113,739 128,714 |
||
| -14,975 |
The Redeemed Christian Church of God Overcomers House, Gloucester Balance Sheet For the year ended 31 December 2021
| Fixed Assets Tangible Fixed Asset 3 Church Building Current Assets Debtors Savings Account Cash in Hand Creditors Long Term Liabilities 4 Net Current Assets TOTAL ASSETS LESS LIABILITIES REPRESENTED BY: Restricted Funds Unrestricted Funds |
£ 2021 80,242 18,502 |
£ 2021 27,418 371,080 -183,134 215,364 179,139 36,225 215,364 |
£ 2020 45,683 18,119 |
£ 2020 20,715 378,280 - 219,856 |
|---|---|---|---|---|
| 98,744 281,87 8 |
63,802 283,65 8 |
|||
| 179,139 | ||||
| 149,020 30,119 |
||||
| 179,139 |
RCCG Overcomers House, Gloucester
Notes to the Financial Statements
For the Year Ended 31 December 2021
Accounting Policies:
1. Basis of preparation of accounts:
The accounts are prepared under the historical cost convention.
The consolidated financial statements have been prepared in accordance with the statement of recommended practice: accounting and reporting by charities issued in March 2005 applicable accounting standards and the charities Acts 1993.
The charity has taken advantage of the exemption in Financial Standard No 1 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small charity.
2. Funds Accounting :
Unrestricted funds – These comprises funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds – This is raised for particular restricted purposes and can only be used for those particular restricted purposes within the objects of the charity.
Incoming resources : All incoming resources are included in the statement of financial activities
when charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to the particular categories:
-
Tithes and offering and Thanksgivings: These incomes are included in the incoming resources on receipt
-
Donations for building: Income included in the incoming resources of restricted funds on receipt
-
Other Donations: Income included in the incoming resources on receipt
Outgoing Resources : All outgoing resources are included in the financial statements on accrual basis.
3. Tangible fixed Assets :
Assets for use by the charity are at Cost less depreciation.
Costs of assets less than £100 are not capitalised.
Depreciation is charged at 10% using the reducing balance method.
| Cost: As at 01 Jan 2021 Additions As At 31 Dec 2021 Depreciation: As at 01 Jan 2021 Charge for the year 2021 As At 31 Dec 2021 Net Book Value: As At 31 Dec 2021 As At 01 Jan 2021 Building: Cost: As at 01 Jan 2021 Additions As At 31 Dec 2021 Depreciation: As at 01 Jan 2021 Charge for the year 2021 As At 31 Dec 2021 Net Book Value: As At 31 Dec 2021 |
£ 32,011.68 15,367.00 47,378.68 11,297.07 4,738.00 16,035.07 27,417.61 20,714.61 £ 386,000.00 386,000.00 7,200.00 7,720.00 14,920.00 371,080.00 |
£ 32,011.68 15,367.00 47,378.68 11,297.07 4,738.00 16,035.07 27,417.61 20,714.61 £ 386,000.00 386,000.00 7,200.00 7,720.00 14,920.00 371,080.00 |
|---|---|---|
| 386,000.00 | ||
| 7,200.00 7,720.00 |
||
| 14,920.00 | ||
| 371,080.00 |
378,800.00
As At 01 Jan 2021
Interest Payments During the year 31/12/21 - £13, 365.45
- Value Added Tax :
VAT is not recoverable by the charity, and as such is included in the relevant costs in the statement of financial activities.