REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
FINANCIAL STATEMENT FOR THE YEAR ENDED 31 OCTOBER 2025
Charity reg. no. 1140405
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
| Reference and administrative details of the charity | 3 |
|---|---|
| Directors'report | 4 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 15 |
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
Company Information
| Directors/Trustees | Olusegun Emmanuel |
|---|---|
| Faith Azala Okhuoya | |
| Adeboye Osifade | |
| Oludayo Stephen | |
| Mayowa Ayegbusi | |
| Secretary | Olutoyin Bolanle Taiwo |
| Company number | 07396730 |
| Charity number | 1140405 |
| Registered office | 89 New Square |
| Chesterfield | |
| Derbyshire | |
| S40 1PH | |
| Accountants | Shadrac consulting ltd |
| 13 Monksmead | |
| Borehamwood | |
| Hertfordshire | |
| WD6 2LF |
Page 3
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
DIRECTORS' REPORT
FOR YEAR ENDED 31 OCTOBER 2025
The directors and trustees present their report and the accounts for the year ended 31 October 2025.
The financial statements have been prepared in accordance with the accounting polices set out in note 1 to the accounts and comply with the charity's memorandum and articles, applicable by law (Companies Act 2006 and Charities Act 2011) and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005.
Legal and Administrative details
REDEEMED CHRISTIAN CHURCH OF GOD GRACE CHAPEL CHESTERFIELD was incorporated as a private company, limited by guarantee, on 5 October 2011, company number 07396730.
Trustees
The trustees who are also directors for the purposes of the Companies Act 2006 that served in the year were as follows:
Directors
Olusegun Emmanuel Faith Azala Okhuoya Adeboye Osifade Oludayo Stephen Mayowa Ayegbusi
Secretary
Olutoyin Bolanle Taiwo
Structure, Governance and Management
Governing Document
The company is limited by guarantee and registered as a charity under the Charities ACT 2011. It is governed by its Memorandum and Articles of Association incorporated on 5th October 2011. The company has applied for charitable status for taxation purposes and is currently a registered charity.
Anyone over the age of 16 can become a member of the company subject to approval by the trustees.
Page 4
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
DIRECTORS' REPORT
FOR YEAR ENDED 31 OCTOBER 2025
Governing document continued…....
No director has any beneficial interest in the charitable company. The number of guarantees at 31 October 2025 was three. Every member of the Charity promises that if the Charity is dissolved while he or she is a member within twelve months after he or she ceases to be a member, to contribute such sum (not exceeding £10) that may be demanded towards payment of debts and liabilities of the Charity.
Recruitment and Appointment of Trustees
Appointment of trustees begun from the first annual general meeting and was in accordance with the articles of association. At every subsequent annual general meeting, one third of the trustees are subject to retirement by rotation.
If the company at the meeting at which a trustee retires by rotation does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to be reappointed unless the meeting is resolved not to fill the vacancy or unless a resolution is put to the meeting and lost. The number of trustees shall not be less than two and are not subject to any maximum. Trustees have the power to co opt members to a committe so long as those co opted members do not exceeed one half of the total number of trustees on that committee.
Trustee Induction and Training
Any new trustees undergo an orientiation day to brief them on their legal obligations under Charity and Company law, the content of the Memorandum and Articles of Association and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be of use for the undertaking of the role.
Organisational Structure
The trustees, which at present there are three, provide the strategic direction of the charity. The aims and objectives are communicated to the congregation and members of the church.
Assets held on behalf of another charity
There are no assets held on behalf of another charity.
Page 5
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
DIRECTORS' REPORT (Continued)
FOR YEAR ENDED 31 OCTOBER 2025
Risk Managagement
The trustees have a risk mangagement strategy that includes:
-
i. An annual review of the risks the charity may face;
-
ii The establishment of systems and procedures to migate those risks identified in the plan;
iii. The implementation of procedures designed to minimise any potential impact on the charity should they materialise.
Financial risk is to be mitigated by the secretary monitoring the bank frequently to ensure no losses from error or fraud take place.
The policies of risk management are continously reviewed to ensure they still meet the needs of the charity.
Objectives
The charity's objects are:
-
The advancement of the Christian religion worldwide
-
The relief of poverty worldwide.
-
To impact the community in every positive way possible.
It pursues these objects by the operation of a centre for Christian worship at its premises in the town centre of Chesterfield town by a programme of events aimed at reaching out to the un-churched together with a range of community-centred projects.
The charity's main objectives for the year were:
-
The establishment forums to reach out to the community.
-
To establish a new church.
-
The promotion of festivals, celebrations and exhibitions and outreaches.
-
Mental Health Forum.
-
Food parcels for struggling familites.
-
Singing for pleasure to combat loneliness.
-
Coffee mornings on Mondays.
-
Operating Mother and Toddler group and other play schemes
-
Soup kitchen - where the homeless are fed 3 times weekly.
-
Running of a wellbeig forum.
STRATEGIES
The charity's strategies for achieving these objectives were:
-
Building a wider network of relationships within the local community to enable the community's involvement in
-
the charity's exhibitions.
-
Organising/supporting Family fun days with other churches in town.
-
Providing music and refreshments in the market square every quarter.
-
Mother and Toddler group.
-
Hosting 24hr Prayer event on behalf of all churches annually.
-
Singing for pleasure. Over 50's come and sing hymns and folksongs.
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REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
DIRECTORS' REPORT (Continued)
FOR YEAR ENDED 31 OCTOBER 2025
Activities for public benefit
The company currently carries out many activities that are for public benefit.
Charity fund raising
The church has regular and committed members who give tithes and other donations for the furtherance of the church's activities.
The church operates a café which provides beverages and snacks. The food is subsidised and the café exists to attract customers who then may be introduced to the church and its work.
Achievements and Performance
The trustees are pleased to report the following
-
The Charity moved to a new mortgaged premises.
-
Built a wider network of relationships within the local community to enable the community's involvement in the charity's exhibitions.
-
Street Pastors Operational base is still within Grace Chapel building.
-
We have been able to provide music and refreshments in the market square every quarter.
-
We organised and hosted our Annual musical festival for the town.
-
Mother and Toddler group is a running and growing strong.
-
We have started a wellbeing forum for the mentally challenged.
-
We planted a new church.
-
To impact the community in every positive way possible.
Plans for the future
The trustees look towards the future with the following proposals:
-
To continue to propagate our faith by running courses like 'Christianity Explored' and continuing to hold
-
regular Christian worship services.
-
The establishment of new church parishes, small groups and community centres.
-
The promotion of festivals & concerts, celebrations, community days and exhibitions.
-
To continue to work with local authorities and charities for a safer neighbourhood.
-
To continue to work with other clients for the relief of poverty.
Approved by the Directors on 21 August 2026 and signed on their behalf by:
Olusegun Emmanuel Director
Page 7
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
INDEPENDENT EXAMINER'S REPORT
FOR YEAR ENDED 31 OCTOBER 2025
TO THE DIRECTORS OF REDEEMED CHRISTIAN CHURCH OF GOD- GRACE CHAPEL CHESTERFIELD
I report on the accounts of the charity for the year ended 31 October 2025 which is set out on pages 9 to 14.
RESPECTIVE RESPONSIBILITIES OF THE DIRECTORS AND THE EXAMINER
The charity's directors are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year under section 476 of the Companies Act 2006 and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of Charities Act 2011.
-
follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145 (5)(b) of the 2011 Act); and
-
state whether particular matters have come to my attention.
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 the accounting records in accordance with the requirement o Section 386 and 387 of the Companies Act 2006; and
•to prepare accounts which accord with the accounting records and to comply with the accounting rquirements of Section 394 and 395 of Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting 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.
Shadrac consulting ltd 13 Monksmead Borehamwood Hertfordshire WD6 2LF
Page 8
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
Annual accounts for the period
Statement of financial activities
| Unrestricted | 2025 Total | 2024 Total | ||||
|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | |||
| £ | £ | £ | ||||
| INCOMING RESOURCES | ||||||
| Donations, legacies & similar incoming resources | 2 | 168,006 | 168,006 | 163,289 | ||
| Gift aid income | 3 | 98,227 | 98,227 | 23,354 | ||
| Total incoming resources | 266,234 | 266,234 | 186,643 | |||
| RESOURCES EXPENDED | ||||||
| Costs of generating funds & charitable activities | 4 | 209,916 | 209,916 | 158,160 | ||
| Governance costs | 7 | 10,191 | 10,191 | 5,142 | ||
| Total resources expended | 220,108 | 220,108 | 163,302 | |||
| Net (Outgoing)/Income resources for the year | 46,126 | 46,126 | 23,341 | |||
| Prior Year Adjustment | S18 | - | 6,687 |
- | 6,687 |
- |
| Net movement in funds | 39,439 | 39,439 | 23,341 | |||
| Balance brought forward | 213,704 | 213,704 | 190,363 | |||
| BALANCE AT END OF THE YEAR | 253,143 | 253,143 | 213,704 |
Page 9
REDEEMED CHRISTIAN CHURCH OF GOD - GRACE CHAPEL CHESTERFIELD
Balance sheet as at 31st October 2025
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand Total current assets Creditors: amounts falling due within one year 12 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year 13 Net assets CHARITY FUNDS Unrestricted funds 9 Total funds |
2025 Total Funds Total Funds 2024 Total Funds £ £ £ 335,782 335,782 329,000 - - - |
|---|---|
| 335,782 335,782 329,000 | |
| 40,252 40,252 - 23,815 23,815 44,842 |
|
| 64,067 64,067 44,842 | |
| 20,500 20,500 20,500 | |
| 43,567 43,567 24,342 | |
| 379,349 379,349 353,342 126,206 126,206 139,638 |
|
| 253,143 212,891 213,704 | |
| 253,143 253,143 213,704 | |
| 253,143 253,143 213,704 |
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
• The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to financial statements, so far applicatble to the company.
These financial statements were approved by the Directors on 21 August 2026 and signed on their behalf by:
Olusegun Emmanuel- Director
Page 10
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
NOTES TO THE FINANCIAL STATEMENTS
FOR YEAR ENDED 31 OCTOBER 2025
1. ACCOUNTING POLICIES
p p Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005) issued in March 2005, together with the Financial Reporting Standard for Smaller Entities (effective April 2008) and with Companies Act 2006.
The principal accounting policies adopted in preparation to the financial statements are as follows:
Incoming resources
All incoming resources are included in the statement of financial activities when the company is entitled to the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income:-
Service contracts and grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Where income has been received under service contracts but the related services have not been performed by the year end, the balance is carried forward as deffered income.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as the expenditure tow hich it relates.
Charitable expenditure comprises costs incurred by the company in the delivery of its activities and services for its clients. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the company and include the accountancy and costs linked to the strategic management of the company.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allowed directly; others are apportioned on an appropriate basis as set out in note 13.
Tangible fixed assets and depreciation
Depreciation has been provided at the following rates in order to write down the cost or valuation, less estimated residual value, of the tangible fixed assets, by equal annual instalments on a straight line basis over their expected useful lives.
-
Fixture & fittings 10% reducing balance
-
• Equipment 15% straight line • Motor vehicle 20% reducing balance
Investment income
Investment income is recognised in the accounts when it is received.
Value added tax
The company is not registered for Value Added Tax as it reviewed its position and found that it did not require to be recognised. Expenditure in these financial statements, incurred by Redeemed Christian Church of God Chapel Chesterfield, is therefore shown inclusive of value added tax.
Page 11
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
NOTES TO THE FINANCIAL STATEMENTS
FOR YEAR ENDED 31 OCTOBER 2025
Stocks
Stocks are stated at the lower of cost and net realisable value.
Taxation
The charitable company has dormant status for corporation tax by HMRC.
2. DONATIONS AND GIFTS
| Offering Tithe Thanksgiving Project Other 3. Gift aid income Gift Aid received Gift Aid receivable Hall hire fees & donations |
2025 2024 £ £ 32,624 21,072 84,946 88,603 7,669 10,685 225 31,171 38,550 11,256 3,992 502 |
|---|---|
| 168,006 163,289 | |
| 57,975 23,354 40,252 - |
|
| 98,227 23,354 |
Page 12
REDEEMED CHRISTIAN CHURCH OF GOD - GRACE CHAPEL CHESTERFIELD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
| Hospitality Supplies & Stationery Mission Support & Misc Honourariapayments Licences & Insurances/software Mortgage interest Coffee Machine Rental and coffee Supplies Projects(Grace Box,SoupKitchen & Copes) Photocopier Rental & Charges Training/Books Cost Vechicle and Travel Web & Telephone Cost 5. Fundraising trading Adverts BuildingRepair and Renewal 7. Governance costs Independent Examiner fees Accountingand Legacyfees 6. Investment managemen Staff costs Card Payment Machine Rental & Charges Bank Service charges Gas/ Electric/ Water 4. Costs of generating funds & charitable activities Depreciation Dues Equipment Evangelism & Conference Cost |
Hospitality Supplies & Stationery Mission Support & Misc Honourariapayments Licences & Insurances/software Mortgage interest Coffee Machine Rental and coffee Supplies Projects(Grace Box,SoupKitchen & Copes) Photocopier Rental & Charges Training/Books Cost Vechicle and Travel Web & Telephone Cost 5. Fundraising trading Adverts BuildingRepair and Renewal 7. Governance costs Independent Examiner fees Accountingand Legacyfees 6. Investment managemen Staff costs Card Payment Machine Rental & Charges Bank Service charges Gas/ Electric/ Water 4. Costs of generating funds & charitable activities Depreciation Dues Equipment Evangelism & Conference Cost |
This year Last year £ £ |
This year Last year £ £ |
|---|---|---|---|
| Staff costs | 32,406 | 22,773 | |
| Honourariapayments | 5,600 | 4,829 | |
| Coffee Machine Rental and coffee Supplies | 2,524 | 1,503 | |
| Dues | 9,817 | 6,098 | |
| Equipment | 1,003 | 191 | |
| Evangelism & Conference Cost | 5,536 | 1,549 | |
| Gas/ Electric/ Water | 9,316 | 10,910 | |
| Hospitality | 6,546 | 4,171 | |
| Licences & Insurances/software | 16,315 | 14,194 | |
| Mission Support & Misc | 19,819 | 28,464 | |
| Mortgage interest | 17,284 | 17,284 | |
| Photocopier Rental & Charges | 2,376 | 2,724 | |
| Projects(Grace Box,SoupKitchen & Copes) | 8,286 | 5,271 | |
| Supplies & Stationery | 5,698 | 9,555 | |
| Training/Books Cost | 13,680 | 347 | |
| Vechicle and Travel | 7,471 | 4,244 | |
| Web & Telephone Cost | 4,154 | 5,847 | |
| Card Payment Machine Rental & Charges | - | 121 | |
| Adverts | 118 | 60 | |
| Bank Service charges | 845 | 667 | |
| BuildingRepair and Renewal | 38,863 | 17,358 | |
| Depreciation | 2,261 | - | |
| 209,916 | 158,160 | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Accountingand Legacyfees | 9,691 | 4,642 | |
Independent Examiner fees |
500 | 500 | |
| 10,191 | 5,142 |
Page 13
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
NOTES TO THE FINANCIAL STATEMENTS
FOR YEAR ENDED 31 OCTOBER 2025
| 10. TANGIBLE FIXED ASSETS | 10. TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Property | Motor Vechicles | Equipment, | Total | ||
| Fixtures & Fittings | |||||
| £ | £ | £ | £ | ||
| Balance brought |
329,000 | 7,455 | 33,160 | 369,615 | |
| forward | |||||
| Additions | 9,043 | 9,043 | |||
| Balance carried |
329,000 | 7,455 | 42,203 | 378,658 | |
| forward | |||||
| Depreciation | |||||
| Balance brought |
- | 7,455 | 33,160 | 40,615 | |
| forward | |||||
| Charge for year | - | 2,261 | 2,261 | ||
| Balance carried |
- | 7,455 | 35,421 | 42,876 | |
| forward | |||||
| 9.3 Net book value | |||||
| - | - | ||||
| Carried forward |
329,000 | - | 6,782 | 335,782 | |
| 11. DEBTORS: AMOUNG FALLING | DUE WITHIN ONE YEAR | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Debtors | - | 1,850 | |||
| Gift aid receivable | - | - | |||
| - | 1,850 | ||||
| Page 14 |
REDEEMED CHRISTIAN OF GOD, GRACE CHAPEL CHESTERFIELD
NOTES TO THE FINANCIAL STATEMENTS
FOR YEAR ENDED 31 OCTOBER 2025
12. CREDITORS: AMOUNGS FALLING DUE WITHIN ONE YEAR
| Accruals and deferred inome Musical equipment Mortgage payment |
2025 2024 £ £ 500 500 -- 20,000 20,000 |
|---|---|
| 20,500 20,500 |
12. CREDITORS: AMOUNTS FALLING AFTER ONE YEAR
| Mortgage payment | 2025 2024 £ £ 126,206 139,638 |
|---|---|
| 126,206 139,638 |
14. Directors and employees
| 14. Directors and employees | |
|---|---|
| Wages and salaries | 2025 2024 £ £ 32,406 22,773 |
| 32,406 22,773 |
The directors did not receive any remuneration or expenses.
The average number of staff employed by the charity during the year was 3. There were no employees whose emoluments amounted to over £60,000 in the year. There were no employees for whom retirement benefits are accruing under a money purchase scheme.
Page 15