THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG)
SOLUTION ASSEMBLY
Charity Registration Number: 1139961
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 OCTOBER 2020
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
YEAR ENDED 11 OCTOBER 2020
| Contents | |
|---|---|
| REPORT OF THE TRUSTEES | 4 – 6 |
| INDEPENDENT EXAMINER’S REPORT | 7 |
| STATEMENT OF FINANCIAL ACTIVITIES | 8 |
| STATEMENT OF FINANCIAL POSITION | 9 |
| NOTES TO THE FINANCIAL STATEMENT | 10 -14 |
2
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
Report of the Trustees
For the Year Ended 11 October 2020
The trustees present their report with the financial statements of the charity for the year ended 11 October 2020. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Registration No
1139961
General Overseer
Pastor E. A. Adeboye
Trustees
The trustees who served during the period were as follows:
| Pastor-Mrs Christiana Longe | - | Chairperson |
|---|---|---|
| Pastor-Mrs Oluwayemisi Onanuga | - | Member |
| Mr Evong B. Evong | - | Member |
| Mrs Funmi Kolawale | - | Member |
| Pastor Adetola David Odumade | - | Pastor-in-Charge |
Principal Address
29 Welbeck Road Newcastle upon Tyne NE6 2HU
3
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
Report of the Trustees
For the Year Ended 11 October 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is an unincorporated association governed by a trust deed. Eligibility for members of charity and members of board of trustees is governed by the trust deed.
There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.
Organisation Structure
The church is organised such that the trustees meet at regular intervals to manage its affairs. The day to day activities of the church is administered by the Pastor-in-charge:-
Pastor Adetola David Odumade
Volunteers
Many volunteers sacrifice their time to help with the routine activities of the church. We are greatly indebted to these volunteers for their unwavering commitment and support.
Appointment of New Trustees
Trustees are appointed by strict spiritual guidelines and biblical qualities that mirror Christ-like attributes. There was no trustees’ remuneration or other benefits.
Risk Management
The trustees actively review the major risks which the charity faces on a regular basis. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks.
Related Parties and Objective
RCCG Solution Assembly is a member of Redeemed Christian Church of God (RCCG) which has parishes in many countries of the world. The relationship between the parishes and RCCG is governed by an agreement for common purposes.
Our objective is to raise men and women who have been transformed by the power of God’s word to lead and impact their generation for Christ as ambassadors that provide solutions to every challenge of life.
4
Principal Funding Sources
The sources of fund are provided mainly through tithes and offerings by church members as well as gift aid.
Objects and Activities
The principal object is the advancement of Christian Faith worldwide and the relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve its objective, the charity adopted the following strategies;
-
Conducting Sunday worship services, midweek Bible study and prayer meetings;
-
Running seminars in the church with proven ministers of faith to guide members in the various aspects of Christian faith;
-
Support for other charities and Christian events; and
-
Regular visitation within the local community to provide required support.
The activities for achieving its objectives include:
-
Community outreach events
-
Conference and events
-
Welfare support to members and general public; and
-
Various missionary activities
Achievements and Future Developments
This year we have successfully share our Christian faith by promoting positive values to reduce social vices among the youths in our communities, providing educational materials for children to support struggling families, delivering comprehensive career development path for students and many more community-oriented events.
As we pursue life transforming programmes and embark on spreading the gospel of Christ, we anticipate transformation in peoples’ life and growth in membership that will lead to planting of more parishes.
Indeed, the present level of funding is sufficient to support the continuation of the church objectives.
Trustees’ Responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charity, and of the incoming resources and application of resources for that period. In preparing those financial statements, the trustees have:
-
❖ Selected suitable accounting policies and applied them consistently;
-
❖ Observed the methods and principles in the Charity SORP;
-
❖ Made judgements and estimates that are reasonable and prudent;
-
❖ Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5
-
❖ Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the charity will continue in operation).
-
❖ The trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the 2005 SORP for charities and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2007). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the detection and preventions of fraud and other irregularities.
APPROVED BY THE TRUSTEES & SIGNED ON ITS BEHALF BY:
…………………………………………………… Pastor-Mrs Christiana Longe - Chairperson
Date: ……14/09/2021…………………………………………
6
Independent Examiner’s Report to the Trustees of
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
I report on the accounts for the year ended 11 October 2020 set out on pages attached.
Respective Responsibilities of Trustees and Examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
-
Examine the 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 145(5) (b) of the 2011 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 include consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
Have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Olalekan Aladesanmi, FCCA
17 Cork Street
Sunderland
SR1 2AN
7
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
Statement of Financial Activities
For the Year Ended 11 October 2020
| Notes INCOMING RESOURCES Donations, Legacies and similar incoming resources 3 Activities in furtherance of charity's object 4 Total Incoming Resources RESOURCES EXPENDED Grants and Donations 5 Costs of activities for Charitable objectives 6 Support costs 7 Management and Governance Cost 8 Total Resources Expended Net (Resources expended/Incoming Resources) Total Funds brought forward Total Funds carried forward |
2019 2018 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 76,321.92 - 76,321.92 68,180.07 17,341.25 - 17,341.25 19,848.75 |
|---|---|
| 93,663.17 - 93,663.17 88,028.82 |
|
| 14,954.00 - 14,954.00 11,093.00 29,748.29 - 29,748.29 33,702.81 13,135.73 - 13,135.73 24,367.17 11,766.34 - 11,766.34 17,092.54 |
|
| 69,604.36 - 69,604.36 86,255.52 |
|
| 24,058.81 - 24,058.81 1,773.30 41,845.97 - 41,845.97 40,072.67 |
|
| 65,904.78 - 65,904.78 41,845.97 |
8
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
Statement of Financial Position
For the Year Ended 11 October 2020
| Notes Non-current Assets Tangible Assets 9 Current Assets Cash in Bank Short Term Liabilities Creditors (amount falling due in one year) 10 Net Current Assets Long Term Liabilities Creditors (amount falling due after more than one year) 11 Net Assets Charity Funds Unrestricted Restricted Total Charity Funds 12 |
2019 2018 Total Funds Total Funds £ £ 301,054.03 310,472.91 |
|---|---|
| 22,770.72 7,483.31 |
|
| 22,770.72 7,483.31 |
|
| 3,962.87 9.496.90 |
|
| 18,807.85 -2,013.59 |
|
| 253,957.10 266,613.35 |
|
| 65,904.78 41,845.97 |
|
| 64,131.48 41,845.97 - - |
|
| 64,131,48 **41,845.97 ** |
The financial statements were approved by the Board of Trustees on ……14/9/2021…………………. and were signed on its behalf by:
……………………………………………. Pastor-Mrs Christiana Longe - Chairperson
9
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY
Notes to the Financial Statements
For the Year Ended 11 October 2020
1. Accounting Policy
The fundamental accounting policies, all of which have been consistently applied throughout the year, are set out below:
(a) Scope and Basis of Preparation
The financial statements of Solution Assembly have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
(b) 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 purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
(c) Incoming Resources
All incoming resources are accounted for when the Charity is legally entitled to the funds and the amount can be quantified with reasonable accuracy.
(d) Resources Expended
All expenditure is accrued for on accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
(e) Cash flow
The financial statements do not include a cash flow statement because the church, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective June 2002).
(f) Tangible Fixed Assets and Depreciation
Depreciation is charged on an annual rate on a reducing balance basis in order to write off each asset over its estimated useful life.
Asset Category Annual Rate
10
Land and Building 2% on cost Motor Vehicles 10% on cost Fixtures and Fittings 25% on cost Equipment 20% on cost
(g) Taxation
The charity is exempt from corporation tax on its charitable activities.
2. Trustees’ Remuneration and Benefits
There were no trustees’ remuneration or other benefits for the year ended 11 October 2020.
| 3. Donation, Legacies and Similar Incoming Resources Tithes Offering Thanksgiving Building Fund Seed of Faith Welfare First Fruits Mission Interest received Rent donations Other donations |
2020 2019 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 46,423.72 - 46,423.72 30,509.91 18,345.55 - 18,345.55 8,703.93 2,418.00 - 2,418.00 1,952.44 152.00 - 152.00 5,837.36 466.45 - 466.45 672.50 277.04 - 277.04 385.50 1,101.00 - 1,101.00 4,327.30 46.00 - 46.00 179.00 5.32 - 5.32 3.23 6,914.84 6,914.84 5551.20 172.00 - 172.00 66.70 |
|---|---|
| 76,321.92 - 76,321.9268,180.07 |
11
| 4. Activities in Furtherance of Charity Object Grant Received - Gift Aid Bible College Dues Men’s dues 5. Grants Paid (Institutional and Non- institutional) RCCG - World Evangelical Mission RCCG - Central Office Fund RCCG Regional/Province/Area Contribution RCCG - Bible College dues Festival of Life Evangelical Support OHCC dues 6. Cost of Activities for Charitable Objectives Mortgage payment Loan interest payment Building Expenses |
2020 2019 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 15,031.25 - 15,031.25 17,378.75 - - - 2,470.00 2,310.00 - 2,310.00 - 17,341.25 - 17,341.25 19,848.75 2020 2019 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 11,113.00 - 11,113.00 7,958.00 550.00 - 550.00 600.00 350.00 - 350.00 485.00 - - - 1,150.00 620.00 - 620.00 300.00 2321.00 - 2321.00 600.00 470.00 - 470.00 140.00 |
|
|---|---|---|
| 14,954.00 - 14,954.00 11,233.00 |
||
| 2020 2019 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 12,656.25 - 12,656.25 15,156.35 5,172.04 - 5,172.04 - 11,920.00 - 11,920.00 18,546.46 29,748.29 - 29,748.29 33,702.81 |
||
12
| 7. Support Costs Fuel Books/Postage/Stationeries Travel /Transport Accommodation Road Tax Hospitality/Welfare Honorarium Printing Vehicle Insurance Building Insurance Vehicle Repairs Bank charges Electricity, Water & Heating ICT expenses Website maintenance Decoration Petty cash Salaries & Wages |
2020 2019 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 631.17 - 631.17 773.66 240.00 - 240.00 160.90 - - - 2,149.01 - - - 512.63 300.00 - 300.00 300.00 1,592.54 - 1,592.54 2,354.95 1,910.00 - 1,910.00 2,120.00 - - - 114.95 637.44 - 637.44 1,701.66 315.00 - 315.00 540.00 115.00 - 115.00 707.40 - - - 21.00 4,104.43 - 4,104.43 4,982.57 414.13 - 414.13 401.88 - - 169.03 - - - 452.10 1,100.00 - 1,100.00 114.13 1,776.02 - 1,776.026,791.30 |
|---|---|
| 13,135.72 - 13,135.72 24,367.17 |
| 8. Management and Governance Cost Retreat/Training Local Council fee Depreciation |
2020 2019 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 988.38 - 988.38 4,827.03 197.08 - 197.08 682.36 10,580.88 - 10,580.88 11,583.15 |
|---|---|
| 11,766.34 - 11,766.34 17,092.54 |
13
9. Non-current Assets: Tangible Assets
| Assets | |||||
|---|---|---|---|---|---|
| Motor | Fixtures & | Land & | |||
| Vehicle | Fittings | Equipment | Building | Total | |
| Cost | £ | £ | £ | £ | £ |
| As at 12 October 2019 | 14,950.00 | 12,750.37 | 27,526.64 | 302,274.00 | 357,501.01 |
| Additions | 0.00 | 412.00 | 750.00 | 0.00 | 1,162.00 |
| At 11 October 2020 | 14,950.00 | **13,162.37 ** | **28,276.64 ** | 302,274.00 | 358,663.01 |
| Depreciation | |||||
| As at 12 October 2019 | 7,325.89 | 8,643.83 | 13,282.25 | 17,776.13 | 47,028.10 |
| Charge for the year | 762.41 | 1,129.64 | 2,998.88 | 5,689.96 | 10.580.88 |
| At 11 October 2020 | 8,088.30 | 9,773.47 | 16,281.13 | 23,466.09 | 57,608.98 |
| Net Book Value | |||||
| At 11 October 2020 | 6,861.70 | 3,388.91 | 11,995.51 | 278,807.91 | 301,054.03 |
| 2020 | 2019 | ||||
| £ | £ | ||||
| 10. Creditors: Amount Falling Due Within One | |||||
| Year | 5,736.17 | 9,496.90 | |||
| 2020 | 2019 | ||||
| 11. Creditors: Amount Falling Due Over One | |||||
| Year | £ | £ | |||
| Mortgage Loan | 253,957.10 | 266,613.35 |
12. Movements in funds
| Unrestricted Funds General Funds Restricted Funds Restricted Total Funds |
At 12/10/2019 net movement in funds At 11/10/2020 £ £ £ 41,845.97 24,058.81 65,904.78 - - - |
|---|---|
| 41,845.97 24,058.81 65,904.78 |
14