REGISTERED COMPANY NUMBER: 07478903 (England and Wales) REGISTERED CHARITY NUMBER: 1139924
Report of the Trustees and Financial Statements for the year ended 31 December 2024
## **RCCG CITY OF GRACE PETERBOROUGH**
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
**RCCG CITY OF GRACE PETERBOROUGH** Contents of the Financial Statements
## **For the year ended 31 December 2024**
||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5 to 6|
|Notes to the Financial Statements|7 to 9|
|Detailed Statement of Financial Activities|10 to 11|
## **RCCG CITY OF GRACE PETERBOROUGH**
Report of the Trustees For the year ended 31 December 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
07478903 (England and Wales)
## **Registered Charity number**
1139924
## **Registered office**
105 WELLINGTON STREET PETERBOROUGH CAMBRIDGESHIRE UNITED KINGDOM PE1 5DU
## **Trustees**
1. Pastor Adediran Gabriel Ajayi
2. Pastor Oladapo Adegoke
3. Mr. Adekunle Adenuga
4. Pastor Vincent Tokunbo Ibikunle
5. Mr. Adewemimo Adewusi
## **Company Secretary**
Mr. Adewemimo Adewusi
## **Independent Examiner**
DTT Consultancy Limited 36 Daffodil Close Hatfield Herts AL10 9FF
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
The church is organised so that the trustees meet regularly to manage its affairs. There is a full-time office administrator, who manages the day to day administrations of the church.
## **Related parties**
RCCG-City of Grace is a member of Redeemed Christian Church of God (RCCG) which has Parishes all over the world. The relationship is governed by an Agreement for common purposes between the Parishes and RCCG. **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
## **RCCG CITY OF GRACE PETERBOROUGH**
Report of the Trustees
For the year ended 31 December 2024
## **Introduction**
The year began with a thanksgiving and celebration service, attended by church members. God has truly been faithful to the City of Grace Peterborough with evidence of the impact on the members and the community.
At the start of the year, a detailed programme was drawn out per the RCCG calendar and the scheduled activities of the church to achieve the objectives laid down for the year; some of which include prayer and prophetic conference, the church’s 17th Anniversary and project, outreach programmes. E.g., breakfast outreach to the community and the service users in care homes.
## **Church Services**
Due to the growth in the numbers, the church started two services to run every in the current property.
## **Church Events**
## **1. Prayer and prophetic conference**
The event attracted people from within and outside the United Kingdom.
## **2** . **Music Outreach**
The church hosted a Gospel Music Outreach at the City Centre and had the quarterly worship night tagged The Atmosphere with different choirs and guest artists in attendance.
## **3. Breakfast Outreach**
The breakfast Outreach on Easter weekend was a success. The attendance was quite impressive. The homeless and the less privileged in the community attended the outreach. This project takes place within the church’s property and involves counselling and dealing with social issues like drug addiction.
## **4. Support for Local Community Development**
The church supports local charities to mitigate homelessness and to empower the displaced and the disadvantaged. The church has been working with charities like “The New Haven” and “Axiom Housing Peterborough Foyer” which provide temporary accommodation to the homeless and empowerment opportunities, especially for young persons. The “Feeding the Homeless Project” supports the homeless, displaced and disadvantaged through these charities by donating food and clothing.
## **5. Financial Support for Disadvantaged Children**
The Church Supports Disadvantaged Children in third-world countries, rendering financial support to families in Ghana, West Africa – since July 2013. The church receives custom updates per child, which tracks the progress and development of the children’s wellbeing and general education and currently partners with Compassion UK, a charity that sponsors children from underprivileged backgrounds, giving them life-changing support including food, education, and health checks
## **6. Welfare Project**
The church, primarily through its welfare and missions teams, undertakes projects within and outside the borders of the community. The church runs a welfare project that caters for the needs of the members. The welfare system serves members in need.
Page 2
## **RCCG CITY OF GRACE PETERBOROUGH**
Report of the Trustees For the year ended 31 December 2024
## **FINANCIAL REVIEW**
## **Reserves policy**
As per the revised account the net income surplus is £68,597.
All these have been unrestricted reserves and no fund is allocated to restricted project.
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets should be transferred to reserves.
The free reserves held by the church should be 3 months of annual expenditure. At this level, the trustees feel that would be able to continue the current activities of the church in the event of significant drop in funding.
## **Principal funding sources**
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
## **FUTURE DEVELOPMENTS**
The church will continue to explore various ways of spreading the gospel of Christ in an effective manner.
The charity is also looking to grow in membership and continue to develop its members to make life - changing impact in society, We intend to plant more parishes and accommodate new members.
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees (who are also the directors of RCCG - City of Grace for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD:**
Date: 27th May 2025
Adewemimo Adewusi
Page 3
## **Independent Examiner's Report to the Trustees of RCCG CITY OF GRACE PETERBOROUGH For the year ended 31 December 2024**
I report on the accounts for the year ended 31 December 2024 set out on pages four to nine. Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of FCCA. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 43 of the 1993 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review 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 accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all 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 set out in the statements below. Independent examiner's statement
In connection with 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 386 and 387 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
DTT Consultancy Limited 36 Daffodil Close Hatfield Herts AL10 9FF
Date: 27th May 2025
Page 4
## **RCCG CITY OF GRACE PETERBOROUGH**
Statement of Financial Activities
## **For the year ended 31 December 2024**
|Notes
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
Gift Aid
2
Gift Aid Receivable
Peterborough Alive
**Total incoming resources**
**RESOURCES EXPENDED**
Charitable activities
Cost of generating income
**Total resources expended**
**NET INCOMING SURPLUS (DEFICIT)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2024**
**2024**
**2024**
**2023**
**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
£
£
£
£
341,800
341,800
384,922
42,147
42,147
32,242
88,000
88,000
2,540
2,540
-|
|---|---|
||**474,487**
**-**
**474,487**
**417,165**|
||77,083
77,083
102,597
178,836
178,836
155,318|
||**255,919**
**255,919**
**257,916**|
||**218,567**
**-**
**218,567**
**159,249**
829,974
829,974
670,725|
||**1,048,541**
**-**
**1,048,541**
**829,974**|
Page 5
## **RCCG CITY OF GRACE PETERBOROUGH**
## Balance Sheet
## **As At 31 December 2024**
|**2024**
**2024**
**2024**
**2023**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**1,173,488**
**1,193,250**
**CURRENT ASSETS**
Prepayment
9,166
Gift aid receivable
88,000
Debtors
6
5,000
Cash in hand
275,188
159,532
**Total Current Asset**
**377,354**
**159,532**
**Less Current Liabilities**
Amounts falling due within one year
7
69,869
62,066
**Net Current Assets (liabilites)**
**307,485**
**97,467**
**Total Assets less Current Lialibilities**
1,480,973
1,290,716
**Less**
Amounts falling due after more than one year
8
432,432
460,742
**NET ASSETS**
**1,048,541**
**829,974**
**FUNDS**
9
Unrestricted funds
1,048,541
829,974
**TOTAL FUNDS**
**1,048,541**
**829,974**|**2024**
**2024**
**2024**
**2023**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**1,173,488**
**1,193,250**
**CURRENT ASSETS**
Prepayment
9,166
Gift aid receivable
88,000
Debtors
6
5,000
Cash in hand
275,188
159,532
**Total Current Asset**
**377,354**
**159,532**
**Less Current Liabilities**
Amounts falling due within one year
7
69,869
62,066
**Net Current Assets (liabilites)**
**307,485**
**97,467**
**Total Assets less Current Lialibilities**
1,480,973
1,290,716
**Less**
Amounts falling due after more than one year
8
432,432
460,742
**NET ASSETS**
**1,048,541**
**829,974**
**FUNDS**
9
Unrestricted funds
1,048,541
829,974
**TOTAL FUNDS**
**1,048,541**
**829,974**|**2024**
**2024**
**2024**
**2023**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**1,173,488**
**1,193,250**
**CURRENT ASSETS**
Prepayment
9,166
Gift aid receivable
88,000
Debtors
6
5,000
Cash in hand
275,188
159,532
**Total Current Asset**
**377,354**
**159,532**
**Less Current Liabilities**
Amounts falling due within one year
7
69,869
62,066
**Net Current Assets (liabilites)**
**307,485**
**97,467**
**Total Assets less Current Lialibilities**
1,480,973
1,290,716
**Less**
Amounts falling due after more than one year
8
432,432
460,742
**NET ASSETS**
**1,048,541**
**829,974**
**FUNDS**
9
Unrestricted funds
1,048,541
829,974
**TOTAL FUNDS**
**1,048,541**
**829,974**|**2024**
**2024**
**2024**
**2023**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**1,173,488**
**1,193,250**
**CURRENT ASSETS**
Prepayment
9,166
Gift aid receivable
88,000
Debtors
6
5,000
Cash in hand
275,188
159,532
**Total Current Asset**
**377,354**
**159,532**
**Less Current Liabilities**
Amounts falling due within one year
7
69,869
62,066
**Net Current Assets (liabilites)**
**307,485**
**97,467**
**Total Assets less Current Lialibilities**
1,480,973
1,290,716
**Less**
Amounts falling due after more than one year
8
432,432
460,742
**NET ASSETS**
**1,048,541**
**829,974**
**FUNDS**
9
Unrestricted funds
1,048,541
829,974
**TOTAL FUNDS**
**1,048,541**
**829,974**|
|---|---|---|---|
|||||
||||**1,048,541**
**829,974**|
||||1,048,541
829,974|
||||**1,048,541**
**829,974**|
Page 6
## **RCCG CITY OF GRACE PETERBOROUGH**
Balance Sheet - continued **As At 31 December 2024**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
## **The trustees acknowledge their responsibilities for**
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees on 27 May 2025 and were signed on its behalf by:
## Adewemimo Adewusi
Page 7
## **RCCG CITY OF GRACE PETERBOROUGH**
Notes to the Financial Statements **For the year ended 31 December 2024**
## **1. ACCOUNTING POLICIES Accounting convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Fixtures and fittings|-25% on straight line balance|
|---|---|
|Motor vehicles|-25% on straight line balance|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds 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. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Asset under Finance**
There are two assests with monthly instaments. This is been written off in the year that the finance payment relate to.
|**2.Gift Aid**|2024|2023|
|---|---|---|
||£|£|
|Gift aid|42,147|32,242|
Page 8
## **RCCG CITY OF GRACE PETERBOROUGH**
Notes to the Financial Statements - continued For the year ended 31 December 2024
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024
## **Trustees' Expenses**
There were no trustees' expenses paid neither for the year ended 31 December 2024
## **5. TANGIBLE FIXED ASSETS**
|**5. TANGIBLE FIXED ASSETS**|||
|---|---|---|
|**Freehold**
**Freehold**
**Equipment**
**Fixtures and**
**property 1**
**property 2**
**fittings**
**£**
**£**
**COST**
At 1 January 2024
814,134
330,023
105,598
Additions during year
-
-
At 31 December 2024
**814,134**
**330,023**
**105,598**
**DEPRECIATION**
At 31 December 2023
-
68,505
Charge for year
15,762
At 31 December 2024
**-**
**84,267**
**NET BOOK VALUE**
At 31 December 2024
**814,134**
**330,023**
**21,331**
At 31 December 2023
814,134
330,023
37,093
**6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Debtors
**7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Mortgage
Covid Intervention
Other creditors
Accountancy fees|**Freehold**
**Freehold**
**Equipment**
**Fixtures and**
**property 1**
**property 2**
**fittings**
**£**
**£**
814,134
330,023
105,598
-
-|**Motor**
**vehicles**
**Totals**
**£**
**£**
35,693
1,285,448
-|
||**814,134**
**330,023**
**105,598**|**35,693**
**1,285,448**|
||-
68,505
15,762|23,693
92,198
4,000
19,762|
||**-**
**84,267**|**27,693**
**111,960**|
||**814,134**
**330,023**
**21,331**|**8,000**
**1,173,488**|
||||
||814,134
330,023
37,093|12,000
1,193,250|
|||**2024**
**2,023**
£
£
5,000
-|
|||**2024**
**2,023**
£
£
59,500
48,500
9,200
12,397
669
669
500
500|
|||**69,869**
**62,066**|
Page 9
## **RCCG CITY OF GRACE PETERBOROUGH**
## Notes to the Financial Statements - continued **For the year ended 31 December 2024**
## 8 **CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Mortgage
Covid Intervention Loan
9 **MOVEMENT IN FUNDS**
**Unrestricted funds**
Unrestricted funds
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
**TOTAL FUNDS**|**2024**
**2023**
£
£
409,795
435,948
22,636
24,794
**432,431**
**460,742**
**Net**
**movement in**
**At 1/1/24**
**funds**
**At 31/12/24**
£
£
£
829,974
218,567
1,048,541|**2024**
**2023**
£
£
409,795
435,948
22,636
24,794|
|---|---|---|
|||**432,431**
**460,742**|
||829,974
218,567
1,048,541||
||**Incoming**
**Resources Net movement**
**resources**
**expended**
**£**
**£**
£
474,487
255,919
218,567||
||474,487
255,919
218,567||
`
Page 10
|**RESOURCES EXPENDED**
**Charitable activities**
World Evangelism Mission + WEM
Central Office
Festival of Life
Honorarium
Donation
Welfare
Children &Teenage department
Regional contribution
Training, Conference & Congress
Outreach
Evangelism (Inc. Peterborough Alive)
Hospitality & Conference
**Total Charitable activities**
**Costs of generating income**
Mortgage interest
Other Interest
Staff related cost
Telephone
Insurance
Office Expenses
Transport & Hotel Accommodation
Vehicle Running Cost
Music
Electricity, Gas and Water
Printing and stationery
Pension
Legal & Consultancy fees
Cleaning
Professional fees
Accountancy fee
Storage
Equipment
Bank charges & interest
Multimedia
Car park hire
Repairs
Computer Cost/ IT
Communion Elements
Depreciation
**Total Costs of generating income**|27,126
1,740
1,200
8,700
12,700
1,200
6,235
100
2,540
1,520
3,435
10,586
**77,083**
32,709
863
54,289
2,090
5,644
323
2,956
12,676
9,852
6,176
1,961
-
6,425
2,334
828
-
-
7,014
2,018
3,845
4,000
1,996
240
834
19,762
**178,836**|34,343
1,500
1,200
7,908
11,600
4,950
4,593
150
1,877
2,800
20,699
10,977
**102,597**
19,585
1,142
50,230
447
2,662
2,185
4,896
9,707
5,588
5,181
580
600
220
1,616
5,611
500
2,087
13,519
2,084
1,215
4,600
941
360
-
19,762
**155,318**|
|---|---|---|
Page 11