2024-12-31-accounts - The Redeemed Christian Church Of God-Overcomers House Gloucester

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Trustees Report and Financial Statement

For the Year Ended 31 December 2024

For

RCCG Overcomers House, Gloucester

Charity Registered Number : 1139919

RCCG Overcomers House, Gloucester Contents of the Financial Statements For the Year Ended 31 December 2024

Reference and Administrative Information

Trustees Report

Profit and Loss Account

Balance Sheet

Notes to the Financial Statements

RCCG Overcomers House, Gloucester Reference and Administrative Information For the Year Ended 31 December 2024 Charity Name: RCCG Overcomers House, |Gloucester 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 2024

The trustees of RCCG Overcomers House, Gloucester present their annual report together with the financial statements of the Charity (The Redeemed Christian Church of God Overcomers House Gloucester) for the period 1st January to 31st December 2024, 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 promote any charitable activity for the benefit of the local people

6) To provide counselling advice, resources and services to those affected by social and economic circumstances

7) To help individuals to discover and bring into actualisation their destinies and maximise their potentials

STRATEGIES FOR ACHIEVING THE OBJECTIVES

The charity has adopted the following strategies for achieving the above objectives:

1) Planting churches

2) Running conferences and seminars in the church with proven ministers of the faith to guide members in the various aspects of the Christian faith,

3) Support for other charities and Christian events,

4) Providing overseas aid and famine relief, where necessary and involve in economic and community development,

5) Community outreach events know as CSR (Christian Social Responsibility)
6) Conferences and events,
7) Welfare support to members and general public, and

8) Various missionary activities

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. The Charity has over 60 volunteers. It is estimated that over 6,800 hours were volunteered during the year. If conservatively valued at £11.44 per hour, this will amount to £77,792.00.

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

The Charity continues to experience significant improvement in attendance compared to the immediate previous year. It has continued to move forward in terms of impact in the lives of people and its community. The annual programmes of the church were implemented as expected.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 May. The conference was attended by women from different backgrounds. The two-days 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 money is needed for the renovation

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, Youth Centre and to establish children facility as well as well as Food Bank

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 Secretary

The Redeemed Christian Church of

God Overcomers House, Gloucester

Income and Expenditure

For the year ended 31 December 2024

2024 £ Income: Offering 57,196 Tithe 135,073 Thanksgiving 18,641 Building Fund & Other Income 82,096 Total Income Received Cost of Generating Income: Accountancy Fees 500 Advertising & Insurance 4,301 Charitable Events & Donations 154,442 Depreciation 11,852 Honorarium 11,000 Mortgage, Rent & Rates 35,725 Music & Books 2,890 Printing, Postage & Stationery 2,335 Repairs 20,400 Telephone & Internet 5,057 Training & Conference Costs 4,873 Travel Expenses 18,107 Wages & Salaries 6,770 Total Expenditure Paid Net Surplus/(Deficit)	2024 2023 £ £ 65,950 123,570 11,698 75,775 293,006 293,006 500 4,161 104,557 11,581 6,450 42,762 7,312 2,812 11,763 3,144 10,870 14,273 111 278,252 14,754	2023 £
		276,993
		276,993 220,296
		56,697

£ 2024 16,168 216,020 40,239	£ 2023 53,010 171,812 26,666	£ 2023 15,294 355,640 -24,415
272,427 272,948	251,488 275,903
		346,518
		289,821 56,697
		346,518

RCCG Overcomers House, Gloucester

Notes to the Financial Statements

For the Year Ended 31 December 2024

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 2024	34,185.61
Additions	4,423.00
As
At 31 Dec 2024	38,608.61
Depreciation:
As at 01 Jan 2024	19,454.07
Charge for the year 2024	3,861.00
As At 31 Dec 2024	23,315.07
Net Book Value:
As At 31 Dec 2024	15,293.54
As At 01 Jan 2024	14,731.54
Cost:	£
As at 01 Jan 2024	386,000.00
Additions
As At 31 Dec 2024	386,000.00
Depreciation:
As at 01 Jan 2024	22,640.00
Charge for the year 2024	7,720.00
As At 31 Dec 2024	30,360.00
Net Book Value:
As At 31 Dec 2024	355,640.00

As At 01 Jan 2024	363,360.00
4. Interest Payments During the year 31/12/24 -		£21,355.13
5. 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.