THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION ASSEMBLY NEWCASTLE
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 11TH OCTOBER 2023
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG)
SOLUTION ASSEMBLY NEWCASTLE
| Contents | Page |
|---|---|
| CORPORATE INFORMATION | 3 |
| BOARD OF TRUSTEE’S REPORT | 4 – 6 |
| INDEPENDENT EXAMINER’S REPORT | 7 |
| STATEMENT OF FINANCIAL ACTIVITIES | 8 |
| STATEMENT OF FINANCIAL POSITION | 9 |
| ACCOUNTING POLICIES | 10 |
| NOTES | 11 -13 |
2
| CORPORATE INFORMATION | |||
|---|---|---|---|
| Registered Charity Number: | 1139961 | ||
| Principal Address | Solution House | ||
| 29 Welbeck Road | |||
| Newcastle upon Tyne | |||
| NE6 2HU | |||
| General Overseer: | Pastor E. A. Adeboye | ||
| Minister-in-Charge: | Pastor Adetola David Odumade | ||
| Board of Trustees: | Pastor-Mrs Christiana Longe | - | Chairperson |
| Pastor-Mrs Oluwayemisi Onanuga | - | Member | |
| Mr Evong B. Evong | - | Member | |
| Mrs Funmi Kolawale | - | Member | |
| Bankers: | HSBC | ||
| 110 Grey Street | |||
| Newcastle upon Tyne | |||
| NE1 6JG |
3
BOARD OF TRUSTEE’S REPORT
The trustees present their report with the financial statements of the charity for the year ended 11 October 2023. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Public Benefit Statement
The Trustees confirm that they have complied with the duty in section 4 of the Charites Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charites and Public Benefit".
Governing Document
The charity is an unincorporated association governed by a constitution. Eligibility for members of board of trustees is governed by the constitution.
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.
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 |
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.
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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.
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;
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Conducting Sunday worship services, midweek Bible study and prayer meetings;
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Running seminars in the church with proven ministers of faith to guide members in the various aspects of Christian faith;
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Support for other charities and Christian events; and
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Regular visitation within the local community to provide required support.
The activities for achieving its objectives include:
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Community outreach events
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Conference and events
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Welfare support to members and general public; and
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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.
Financial Reviews
During the period, the total of sum £173,771 was received in voluntary income. Total resources expended was £152,902 thus resulting in operating surplus of £20,869. Cash at the end of the period was £22,687.
Future Development
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The Charity plans to continue with its various activities relevant to its local community. In the coming year, the Charity plans to organise more developmental seminar/conference and workshops for its members and local community,
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:
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❖ Selected suitable accounting policies and applied them consistently;
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❖ Observed the methods and principles in the Charity SORP;
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❖ Made judgements and estimates that are reasonable and prudent;
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❖ Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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❖ Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the charity will continue in operation).
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❖ 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.
This report was approved by the Board of Trustees and signed on their behalf by:
On behalf of the charity:
____ 06/09/2024_ Pastor-Mrs Christiana Longe Date Chairperson, Board of Trustees
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INDEPENDENT EXAMINER’S REPORT
Report to the trustees/members of: The Redeemed Christian Church of God (RCCG) Solution Assembly Newcastle On accounts for the year ended: 11[th] October 2023, set out on pages 9 - 13 Charity No: 1139961
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:
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examine the accounts under Section 145 of the 2011 Act
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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
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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:
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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
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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.
Signed: O.A. Date: 19[th] August 2024
Name: Olalekan Aladesanmi FCCA
Relevant professional qualification(s) or body (if any): ACCA
Address: 17 Cork Street, Sunderland, SR1 2AN
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STATEMENT OF FINANCIAL ACTIVITIES: YEAR ENDING 11[TH] OCTOBER 2023
| Notes INCOMING RESOURCES Donations, Legacies and similar incoming resources 1 Activities in furtherance of charity's object 2 Total Incoming Resources RESOURCES EXPENDED Grants and Donations 3 Costs of activities for Charitable objectives 4 Support costs 5 Management and Governance Cost 6 Total Resources Expended Net (Resources expended/Incoming Resources) Total Funds brought forward Total Funds carried forward |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 160,499 - 160,499 75,852 13,272 - 13,272 41,798 |
|---|---|
| 173,771 - 173,771 117,650 |
|
| 32,683 - 32,683 15,824 77,863 - 77,863 82,455 38,916 - 38,916 33,601 3,440 -3,440 7,024 |
|
| 152,902 - 152,902 138,904 |
|
| 20,869 - 20,869 - 21,254 56,014 - 56,014 77,267 |
|
| 76,882 - 76,882 56,014 |
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STATEMENT OF FINANCIAL POSITION: YEAR ENDING 11[TH] OCTOBER 2023
| Notes Non-current Assets Tangible Assets 7 Current Assets Cash in Bank Short Term Liabilities Creditors (amount falling due in one year) 8 Net Current Assets Long Term Liabilities Creditors (amount falling due after more than one year) 9 Net Assets Charity Funds Unrestricted Restricted Total Charity Funds 10 |
2023 2022 Total Funds Total Funds £ £ 289,751 299,240 |
|---|---|
| 22,687 22,025 |
|
| 22,687 22,025 |
|
| 34.150 6,662 |
|
| -11,463 15,363 |
|
| 201,405 258,589 |
|
| 76,883 56,014 |
|
| 76,882 56,014 - - |
|
| 76,882 56,014 |
The financial statements were approved by the Board of Trustees on ……6/09/2024…………. and were signed on its behalf by:
…………………………………………….
Pastor-Mrs Christiana Longe – Chairperson
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ACCOUNTING POLICIES
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 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.
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NOTES
| 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 1. Donation, Legacies and Similar Incoming Resources £ £ £ £ Tithes 99,059 - 99,059 52,943 Offering 46,527 - 46,527 18,313 Thanksgiving 7,498 - 7,498 1,633 Seed of Faith 879 - 879 659 Welfare 978 - 978 441 First Fruits 3,892 - 3,892 1,339 Mission 284 - 284 107 Other donations 1,382 - 1,382 419 160,499 - 160,499 75,852 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 2. Activities in Furtherance of Charity Object £ £ £ £ Grant Received - Gift Aid - - - 31.990 Rent received 13,272 - 13,272 9,808 13,272 - 13,272 41,798 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 3. Grants Paid (Institutional and Non- institutional) £ £ £ £ RCCG - World Evangelical Mission 23,102 - 23,102 13,228 RCCG - Central Office Fund 600 - 600 600 RCCG Regional/Province/Area Contribution 1,450 - 1,450 500 Festival of Life 280 - 280 240 Evangelical Support 6,831 - 6,831 1,136 OHCC dues 420 - 420 120 32,683 - 32,683 15,824 |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 1. Donation, Legacies and Similar Incoming Resources £ £ £ £ Tithes 99,059 - 99,059 52,943 Offering 46,527 - 46,527 18,313 Thanksgiving 7,498 - 7,498 1,633 Seed of Faith 879 - 879 659 Welfare 978 - 978 441 First Fruits 3,892 - 3,892 1,339 Mission 284 - 284 107 Other donations 1,382 - 1,382 419 160,499 - 160,499 75,852 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 2. Activities in Furtherance of Charity Object £ £ £ £ Grant Received - Gift Aid - - - 31.990 Rent received 13,272 - 13,272 9,808 13,272 - 13,272 41,798 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 3. Grants Paid (Institutional and Non- institutional) £ £ £ £ RCCG - World Evangelical Mission 23,102 - 23,102 13,228 RCCG - Central Office Fund 600 - 600 600 RCCG Regional/Province/Area Contribution 1,450 - 1,450 500 Festival of Life 280 - 280 240 Evangelical Support 6,831 - 6,831 1,136 OHCC dues 420 - 420 120 32,683 - 32,683 15,824 |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 1. Donation, Legacies and Similar Incoming Resources £ £ £ £ Tithes 99,059 - 99,059 52,943 Offering 46,527 - 46,527 18,313 Thanksgiving 7,498 - 7,498 1,633 Seed of Faith 879 - 879 659 Welfare 978 - 978 441 First Fruits 3,892 - 3,892 1,339 Mission 284 - 284 107 Other donations 1,382 - 1,382 419 160,499 - 160,499 75,852 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 2. Activities in Furtherance of Charity Object £ £ £ £ Grant Received - Gift Aid - - - 31.990 Rent received 13,272 - 13,272 9,808 13,272 - 13,272 41,798 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 3. Grants Paid (Institutional and Non- institutional) £ £ £ £ RCCG - World Evangelical Mission 23,102 - 23,102 13,228 RCCG - Central Office Fund 600 - 600 600 RCCG Regional/Province/Area Contribution 1,450 - 1,450 500 Festival of Life 280 - 280 240 Evangelical Support 6,831 - 6,831 1,136 OHCC dues 420 - 420 120 32,683 - 32,683 15,824 |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 1. Donation, Legacies and Similar Incoming Resources £ £ £ £ Tithes 99,059 - 99,059 52,943 Offering 46,527 - 46,527 18,313 Thanksgiving 7,498 - 7,498 1,633 Seed of Faith 879 - 879 659 Welfare 978 - 978 441 First Fruits 3,892 - 3,892 1,339 Mission 284 - 284 107 Other donations 1,382 - 1,382 419 160,499 - 160,499 75,852 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 2. Activities in Furtherance of Charity Object £ £ £ £ Grant Received - Gift Aid - - - 31.990 Rent received 13,272 - 13,272 9,808 13,272 - 13,272 41,798 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds 3. Grants Paid (Institutional and Non- institutional) £ £ £ £ RCCG - World Evangelical Mission 23,102 - 23,102 13,228 RCCG - Central Office Fund 600 - 600 600 RCCG Regional/Province/Area Contribution 1,450 - 1,450 500 Festival of Life 280 - 280 240 Evangelical Support 6,831 - 6,831 1,136 OHCC dues 420 - 420 120 32,683 - 32,683 15,824 |
|---|---|---|---|
| 32,683 - 32,683 15,824 |
| 4. Cost of Activities for Charitable Objectives Mortgage payment Loan interest payment Building Expenses |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 20,637 - 20,637 15,957 41,960 - 41,960 4,141 15,266 -15,266 62,357 |
|---|---|
| 77,863 - 77,863 82,455 |
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| 5. Support Costs Fuel Books/Postage/Stationeries Penalties Road Tax Hospitality/Welfare Vehicle Insurance Building Insurance Vehicle Repairs Bank Charges Electricity, Water & Heating ICT expenses Depreciation |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 1,740 - 1,740 1,500 1,461 - 1,461 1,464 - - - 49 266 - 266 522 4,195 - 4,195 5,001 910 - 910 569 3,308 - 3,308 3,389 2,286 - 2,286 1,000 174 174 352 10,560 - 10,560 6,430 2,320 - 2,320 534 11,696 - 11,696 12,790 |
|---|---|
| 38,916 - 38,916 **33,601 ** |
| 6. Management and Governance Cost Retreat/Training Financial Assistance Honourarium |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 2,540 -2,540 3,824 - - - 1,700 900 - 900 1,500 |
|---|---|
| 3,440 - 3,440 7,024 |
7. Non-current Assets: Tangible Assets
| Cost As at 12 October 2022 Additions At 11 October 2023 Depreciation As at 12 October 2022 Charge for the year At 11 October 2023 Net Book Value At 11 October 2023 |
Motor Vehicle Fixtures & Fittings Equipment Land & Building Total £ £ £ £ £ 14,950 13,162 28,277 302,274 358,663 - 3,156 20,120 - 23,276 |
|---|---|
| 14,950 16,318 48,397 302,274 381,939 |
|
| 8,774 11,880 25,332 34,507 80,493 618 1,110 4,613 5,355 11,696 |
|
| 9,392 12,990 29,945 39,862 92,189 |
|
| 5,558 3,329 18,452 262,412 289,751 |
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| 8. Creditors: Amount Falling Due Within One Year 9. Creditors: Amount Falling Due Over One Year Mortgage Loan |
2023 2022 £ £ 34,150 6,662 2023 2022 £ £ 201,405 258,589 |
|---|---|
| 201,405 258,589 |
10. Movements in funds
| 10. Movements in funds | |
|---|---|
| Unrestricted Funds General Funds Restricted Funds Restricted Total Funds |
At 12/10/2022 net movement in funds At 11/10/2023 £ £ £ 56,014 20,869 76,882 - - - |
| 56,014 20,869 76,882 |
11. Trustees’ Remuneration and Benefits
There were no trustees’ remuneration or other benefits for the year ended 11[th] October 2023.
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