COMPANY REGISTRATION NUMBER: 07534045 CHARITY REGISTRATION NUMBER: 1140n5 RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Unaudited Financial Statements 29 February 2024 AD IAN Chartered Certified Accountants 141711419 London Road Norbury London SW16 4AH
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 29 February 2024 The Iruslees, whg are also the directors lor the purposes ol company law, present their report and Ihe unaudited financial slalemenls ol the charity lor the year ended 29 February 2024. Reference and admlnislratlve detalls Reglstered charlty name RCCG Hosanna House Christian Centre Ltd Charity reglstrailon number 1140735 Company reglslratlon number 07534045 Prlnclpal oftice and reglstered Unil 4 Cross Industrial Eslale offlce Cross Street - North 011 Cannock Road Wolverhampton WV1 1PP Wesl Midlands The trustees Deacon R Adedoyin P2s1or A Owojuyigbe Pastor K Okafor Company secretary Pastor Chukwunonye Ezeah Phd Independent examlner G Mario Kumar FCCA 141711419 London Road Norbury London SW16 4AH
RCCG Hosanna House Christian Centre Ltd Company Limlted by Guarantee Trustees, Annual Report (Incorporaling the Director's Report) (conlIn[d) Year ended 29 February 2024 Struclurg> governan¢¢ and management RCCG Hosanna House Christian Centre Limited is one ol over 700 parishes ol the Fledeemed Christian Church ol God in the UK and Ireland and several thousand world-wide headed by the General Overseer - Pastor E A Adeboye. The global headquarters ol the Fledeemed Christian Church ol God is in Nigeria. RCCG Hosanna House Christian Centre is an independent UK registered charity with agreement ol common purpose with RCCG UK as parent ¢harity.11 is therefore under obligation lo render returns lo RCCG UK'S Central Ollice in London. RCCG Hosanna House Christian Centre is run by the Pastor and a group ol ministers appointed by him. The trustees have no jurisdiction over appointment Temoval or discipline or spiritual ellecliveness ol the pastor and or his ministers. The ministers are usually apptsinled by merit aller seeking divine in prayers. The authority lo run the linancial aspects ol the church is delegated lo the Pastor by the Board ol Trustees. The Pastor presents his annual budget lo the Iruslees lor approval. and upon approval, would be required lo operate within the budget. Trustees meet al least twice a year, except where emergency meetings are called lo deliberate on matters that require urgent attention. Truslees. recruilmenl and appointment is by advertising within the Christian Cofflfnunily. Nomination by existing members ol the board ol trustees has been found to work with other churches within the group. There is no provision lor rolalional retirement. Trustees may resign aller giving an appropriate notice in writing. A trustee cannot be sacked, unless helshe is found not lo be lit and proper according lo UK law and Christian ethics andlor missed all the meetings in the year where helshe may be asked lo slep down. Trustees are briefed on one on one basis upon appointment by the chairperson and are eftcouraged lo attend Iruslees. awareness courses usually organised by RCCG Central Office UK. They are a150 encouraged to keep abreast ol development within the UK voluntary seclor. The Charity has a risk policy available lor inspection in the church office. The church's only employee is the pastor whose ollice is presently in his home. Any worker who comes in contact with children and vulnerable adults is required lo undergo Criminal Records Bureau Check before assuming hislher iole Oblectlves and acllvltles The mission ol RCCG is lo propagate the message ol the Christian Scripture around the world and lo proclaim the salvation lound in Jesus Christ. As a church, il seeks lo convert lost souls and reconcile them with their creator. In summary.. 1. To go lo heaven 2. To lake as many people as possible wilh us 3. To have a fflember ol RCCG in every family ol all nations 4. To have a local parish within 5 minutes. drive in every city ol the world 5. To reliel poverty in so lar as il is possible
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (conNnu8dJ Year ended 29 February 2024 Achlevements and performance We are much pleased lo say that we conlinue lo make progress spiritually, touching individual and family lives in a positive way. The size of the congregation has increased numerically. We were able lo hold three successful outreach programmes in the year under review with a good number tsl visiting ministers in attendance. During the course ol the year we continued our weekly prayer vigil themed MIDNIGHT CRY, lo pray for families and our community. To the glory ol God, the church carried out major renovation works and purchased additional worship equipment lo aid ils services. The fftonlhly marriage and relationships serninar is growing strongly. We are seeing a lol ol healing lo the health ol many marriages, with increased beller quality ol family life. We are very successful with various leslimonies ol divine healing and resloralion still coming in. Brethren continue lo donate generously towards the good cause. Now in our twelfth year ol operation following registration with the Charity Commission, the Church has continued lo make good progress. We are much grateful lo the authorities ol the University ol Wolverhamplon who conlinue to allow us lo run a special youth fellowship lor the students ol the university during the year. Flnanclal rgvlew Total ineorne reported lor the year lo 28 February 2024 was £133,577,comprised ol donations and lilhes lowards unreslricled funds of £123,653, restricted building funds 01 £7,943 and bank interest received of £1,981. We are grateful lor the spiritual maturity ol our members lor being lailhlul in their tithing. Tithes accounted lor £73,353 01 the lolal donations with ollering al £27,289. Friends ol the Parish continue to donate by giving regularly by direct credit and other means. We gave £7,166 10 World Evangelism Movement IWEMI.. £1,200 to the Central ollice Area. The pastor did not receive a salary during the year. There was a nel surplus of £73.187 01 unreslricled income and £7,943 01 restricted income in the year. As at 2810212024 our nel worth was £211,445. which also includes the lolal funds of £23,011 ieceived from HMRC under the 'Gift Aid. scheme. Plans for future perlods Overall, our locus in the immediate lulure is lo Continue lo do what we are presently doing, bul with greater elliciency and vigour, reaching out lo the wider community with the love ol Jesus Christ and the message ol salvation. We intend lo strengthen our Youth and Children Church by recruiting and training more volunteers and equipping Ihe unil with needed lacililie5. We are also in talks with Trussel Fund lo open a Food Bank in the Whilmore Reans area ol Wolverhampton lo attend lo the needs ol the poor in our community. We plan lo sponsor a good number ol our volunteers lo undertake update course5 in charity governance so as lo remain compliant with applicable regulations. Small cornpany provisions This report has been prepared in accordance with rhe provisions applicable lo companies enlilled lo the small companies exemplion.
RCCG Hosanna House Chrlsiian Cenire Lld Company Llmlted by Gijaranlee TrustÉthe$' Annual Rèpori (Incorpor•llnq Ihe DlrÈclor's Report) Yèar ended 29 February 2024 Thp Irii<lop' annii<)l irpoil Hi)Ivnvpd nt) ?? Nnvpmlw. ?1 aryl %ior4wI nv hAll ryl IhA b)a.d ol Irii%ivpq bv Pa8loi A Owoiiiwobtr ITriioipel
RCCG Hosanna House Christian Centre Ltd Company Limited by Guaranlee Independent Examiner's Report to the Trustees of RCCG Hosanna House Christian Centre Lld Year ended 29 February 2024 I report lo the Iruslees on my examinalion of the financial slalemenls ol RCCG Hosanna House Christian Centre Ltd I'lhe charitll lor the year ended 29 February 2024. Responslbllltles and basls ot report As the Iruslees ol Ihe company (and also ils directors lor the purposes ol company lawl you are responsible lor the preparalion ol the financial slalemenls in accordance with the requirements ol the Companies Act 20061'lhe 2006 Act'l- Having satisfied myself that the accounts ol the company are not Tequired lo be audited under Part 16 ol the 2006 Act and are eligible lor independent examination, I report in respect ol my examinalion ol the charity's accounls as carried out under section 145 01 the Charilies Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl ol the 2011 Act. Independent examiner's statement I have completed my examination. I confirm ihai no matters have come to my attention in conngclion th the examination giving me cause lo believe: accounting records were not kept in respect ot the charity as required by section 386 01 the 2006 Act.. or the financial slalemenls do not accord with those records; or the linancial statements do not comply with Ihe accounting requiremenls ol section 396 of Ihe 2006 Act other than any requiremenl that the accounts give a 'irue and lair. view which is not a maller considered as part ol an independent examination., or the financial slalemen15 have not been prepared in accordance with the melhods and principles ol the Statement ol Recommended Practice lor accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. I have no concerns and have come across no other mallers in eonneclion with the examination lo which attention should be drawn in this report in order lo enable a proper understanding ol the accounts lo be feached. G Mario Kumar FCCA Independenl Examiner 141711419 London Road Norbury London SW164AH
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Statement of Financlal Activltles {includlng income and expendilure account) Year ended 29 February 2024 2024 Reslricled lunds Total funds Total funds 2023 Unreslricled funds Note Income and endowments Donalions and legacies Investment income 123,653 1,981 7,943 131.596 1,981 133.577 109.896 254 Tolal Income 125,634 7,943 110,150 Expend5ture Expenditure on raising funds.. Costs ol raising donations and legacies Expenditure on charitable activities Total expenditure 34,466 77.981 52.447 34.466 17.981 52,447 18,335 27.080 39,415 Net income and nel movement in funds 73,187 7,943 81,130 70,735 Reconclllatlon of lunds Total funds brought forward Total funds Carrled forward 130,315 203,502 130,315 211,445 59,580 7,943 130,315 The Slalemenl ol financial acliwlies includes all gains and losses recognised in Ihe year. All income and expenditure derive from continuing aclivilies. The notts on pag•s 8 10 14 lomi p•rt ol th•$& Ilnanclal $latements.
RCCG Hosanna House Christian Cenlre Ltd Company Llmlled by Guaranlee Statement of Flnanclal Posltlon 29 February 2024 2024 2023 Flxed Bssel$ Tangii)18 Iixed assets Nol• 13 7.770 Currtni assets Cash al bank arid in halld 2trJ,646 123.265 Cr2dllor¥: 8mounls Iolllng due wllhln one ye&r Nel current assets Tol•l assets le$s Currenl Ilabllllles 14 1,2ThJ 202,446 211,445 720 122.545 130.315 Funds ol Ihe charily Reslricled funds Unrestricted lunds Toial charlty funds 7,943 203,502 211,445 18,065 112,250 130.375 1$ For Ihe year ending 29 February 2024 th8 charily was enlilled lo exemption Irom audit unL1er se¢lion 477 01 the Companies Act 2006 relaiing Io small companies. DiTeuors' responsibililies-. The members have noi required Ihe Company lo oblain an audil ol ITS financial Slalernen15 for the year in queslion in accordance wilh section 476., The direclors aCknO¥edge Iheii SpOnsibl1111es lor eomplying wlh Ihe requirements ol the Act Wtlh respeci lo aeeountsng records the preparats.on ol linaneial slalements. These financial slalemenls have been prepared in accoidance wilh Ihe provisions applieable lo companies subject lo ihe small companies. re9ime. These financial statemenls were approved by Ihe board ol iruslees and authorised lor issue on 22 November 2024, and are signed on behall ol Ihe board by.. Pastor A Owojuyigbe Director Th• nol•• on pao08 110 14 lorm part ol Ih•so Iln•nclal $lal•m•nl
RCCG Hosanna House Christian Centre Ltd Company Llmited by Guarantee Notes to the Financial Statements Year ended 29 February 2024 General informatlon The charity is a public benefit enlily and a private company limited by guarantee, registered in England and Wales and a registered Charity in England and Wales. The address ol Ihe registered ollice is Unil 4 Cross Industrial Eslale, Cross Sireel - North, 011 Cannock Road. Wolverhamplon, WV1 1 PP, Wesl Midlands. Statement of compllan¢e These financial slalemenls have been prepared in compliance with FFIS 102. 'The Financial Reporting Standard applicable in the UK and the Republic ol Ireland.. the Slalemenl ol Recommended Praclice applicable lo chaTilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Companies Act 2006. Accounllng pollcles Ba$ls ol preparatlon The financial slalemenls have been prepared on the historical cost basis. as modified by the revaluation ol certain financial assets and liabilities and investment properties measured al lair value through income or expenditure. The financial slalemenls are prepared in sterling, which is the functional currency ol the entity- Golng concern There are no malerial uncertainties about the charivs ability to continue. Fund accounllng Unreslricled lunds are available lor use al the disereiion ol the trustees lo further any ol the eharity's purposes. Designated lunds are unrestricted funds earmarked by the Iruslees lor particular lulure project or eommilmenl. Reslricled funds are subjected lo reslrielions on their expenditure declared by the donor or through the terms ol an appeal, and fall into one ol two sub-classes.- rgslricled income funds or endowment lunds.
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Notes to the Financial Statements (conllnuedj Year ended 29 February 2024 Accountlng pollcles (confltjued) Incomlng resources All incoming resources are included in the statement ol financial activities when entillemenl has passed lo the charily,. il is probable that the economie benefits associated with the transaction will flow lo the charity and the amount can bo reliably measured. The following specific policies are applied lo particular categories ol income: income Irom donalions or grants Is Tecognised when there is ovidence ol eniillemenl lo the gill. receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlillemenl is established. income from donated goods is measured al Ihe lair value ol the goods unless this is impractical lo measure reliably. in which case the value is derived from th8 cost lo Ihe donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received il the value can be reliably measured. No amounts are included lor Ihe contribution ol general volunteers. income from contracts lor Ihe supply ol services is recognised with the delivery ol the contracted seNice. This is classified as unreslricled funds unless there is a eonlraclual requirement lor il lo be spent on a particular purpose and rolurned il unspent, in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ol the slalemenl ol financial activities to which il ielates-. expenditure on raising funds includes the costs ol all fundraising aclivilies, events, non- charslable trading aclivilies, and the sale of donated goods. expenditure on charitable aclivilies includes all costs incurred by a chaiily in undertaking activities that lurther ils charitable aims lor the benefit ol ils benelieiaries. including those support costs and costs relating lo the governance ol the charity apportioned to charitable aclivilies. other expenditure includes all expenditure that is neither related lo ralsing funds lor the charity nor part ol its expenditure on charitable aclivilies. All costs are allocated lo expenditure caiegories reflecting the use ol the resource. Direct costs allribulable to a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, jusliliable and consislenl basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently slated al cost less any accumulated depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded al the lair value al the dale ol revaluation less any subsequent aceumulaled depreciation and subsequent accumulated impairment losses.
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Noles lo the Financial Statements (contlnuodj Year ended 29 February 2024 Accountlng pollcies (conllnuedj Tanglble assets (coniinuedj An increase in the earrying amount of an asset as a result ol a revaluation. is recognised in other recognised gains and losses. unless il reverses a charge lor impairment that has previously been recognised as expenditure within the statement ol financial aclivities. A decrease in the carrying amount ol an asset as a result ol revaluation, is recognised in other recognised gains and losses, except lo which it ollsels any previous revaluation gain, in which case the loss is shown wlhin other recognised gains and losses on the slalemenl ol financial aciivilies. Depreciation Depreciation is calculated so as lo write oll the cost or valuation ol an asset. less ils residual value. over the useful economic life ol that asset as follows-. Furniture and lixlures Motor vehicles Equipment 250/& reducing balance 250/0 reducing balance 25 /0 reducing balance Impalrmenl of flxed assets A review lor indicators ol impairment Is carried out al Bach repoming dale, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed lor possible reversal al each reporling dale. For Ihe purposes of impairment lesling, when il is not possible lo estimate the recoverable amount ol an individual asset. an estimate is made ol the recoverable amount ol the cash- generating unil lo which the asset belongs. The cash-generating unil is the smallest idenliliable group ol assets that includes the asset and generales cash inflows that largely independent ol the cash inflows from other assets or groups ol assets. For impairment lesling ol goodwill. the goodwill acquired in a business combination is, from the acquisition dale, allocated lo each ol the cash-generaiing units that are expected lo benefit from the synergies ol the combination, irrespective ol whether other assets or liabilities ol the charity are assigned lo those units. Flnanclal Instruments A financial asset or a financial liability is recognised only when the charity becomes a paty lo the conlraclual provisions ol the instrument. Basic financial instruments are initially iecognisgd al the amount receivable or payable including any related transaction costs. Current assets and Current liabilities are subsequently measured al the ea5h or other consideration expected lo paid or received and not discounted. Debt inslrumenls are subsequently measured 21 amortised cost. 10-
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Notes to the Financial Slalements (contlnuedj Year ended 29 February 2024 Accountlng pollcles (contlnuedj Flnanclal Instruments {conllnu¢dJ Where investments in shares are publicly traded or their lair value can olhemse be measured reliably, the investment is subsequently measured al lair value wlh ehanges in lair value recognised in income and expenditure. All other such inveslfflenls are subsequently measured al cost less impairment. Other financial inslrumenls, including derivatives. are initially recognised al laii value. unless payment lor an asset is deferred beyond normal business lerms or linanced al a rate ol interest that is not a market rate, in which case the asset is measured ai the present value ol the lulure paymenis discounted ai a market rale ol interest for a similar debt inslrumeni. Other financial instruments are subsequonlly measured al fair value, with any ehanges recognised in the slalemenl ol financial aclivilies, with the exception ol hedging instruments in a designaled hedging relationship. Finaneial assets that are measured al eosl or amonised cost are reviewed lor objective evidence ol impairment al the end ol each reporting dale. 11 there is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in the slalemenl ol financial activities in which the initial gain was recognised. For all equity inslrumenls regardless ol significance. and other financial assels Ihal are individually signilicanl, these are assessed individually lor impairfflenl. Other financial assets are either assessed individually or grouped on the basis ol similar credit risk characlerislics. Any reversals ol impairment are recognised immediately. lo the exlenl that the reversal does not result in a carrying afflounl ol the financial asset that exceeds what the carrying amount would have been had the impairment not previously beon recognised. Llmited by guarantee Donatlons and legacies Unreslricled Funds Reslricled Total Funds Funds 2024 Donatlons Tithes Ollering Building Fund donation Gift aid received 73,353 27,289 73.353 27,289 7,943 23.011 131.596 7,943 23.017 123.653 7,943
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Notes to the Financial Slalements {contlnued) Year ended 29 February 2024 Donatlons and legacles (contlnu¢dJ Unresiricled Funds Reslricled Total Funds FLtnds 2023 Donallons Tithes Ollering 8uilding Fund donalion Gill aid received 47,759 21,940 47,759 21,940 18,085 22,132 109,896 18,065 22,132 91,831 18,065 Investment Income Unreslricled Tolal Funds Unreslricled Total Funds Funds 2024 Funds 2023 Bank interest receivable 1,981 1.981 254 254 Costs of ralslng donatlons and legacles Unreslricled Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Costs ol raising donations and legacies Donations 34.466 34,466 18.335 18,335 Expenditure on charltable activltles by fund type Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations and legacie5 Support costs 8,966 9.015 8,966 9.015 7,599 13,481 7,599 13,481 17.981 17.981 21.080 21.080 Expendlture on charltable acllvltles by acllvlty type Activities undertaken directly Support ¢osls Total funds 2024 Total lund 2023 Donations and legacies Governance costs 8.966 8,966 9.015 7.599 13,481 21,080 9.015 8.966 9.015 17,981 12-
RCCG Hosanna House Christian Centre Ltd Company Limited by Guarantee Notes to the Financial Statements fcLwllnu8d) Year ended 29 February 2024 10. Net Income Nel income is slated after ¢harging/lcredilingl'. 2024 2023 Depreciation ol tangible fixed assets 2,999 2,590 11. Staff costs The average head count ol employees during the year was Nil12023-. Nill. No employee received employee benefits ol more than £60.000 during the year12023-. Nill. 12. Trustee remuneratlon and expenses No remuneialion or other benefits from employment with the charity or a related entity were received by the Iruslees. 13. Tanglble flxed asset$ Fixtures and liitings Motor vehicles Equipment Total Cost Al 1 March 2023 Addilions 4,704 1,500 16,434 4,228 20,662 22,638 4.228 26.866 Al 29 February 2024 Deprecialion Al 1 March 2023 Charge lor the year At 29 February 2024 Carrylng amount At 29 February 2024 Ai 28 February 2023 4,704 1,500 1,176 882 1.211 72 12,481 2,045 14,526 14,868 2,999 17,867 2,058 1,283 2,646 3,528 217 6,136 3,953 8.999 7.770 289 14. Credltors: amounts falling due wllhln one year 2024 2023 Other creditors 1,200 720 13-
RCCG Hosanna House Christian Centre Ltd Company Limited by Guaranlee Notes to the Flnancial Statements (¢ontlnued) Year ended 29 February 2024 15. Analysis of charllable funds Unrestrlcl¢d funds At 29 February 2024 Al 1 March 2023 Income Expenditure General funds 130,315 125,634 152,4471 203,502 Al 28 February 2 023 Al l March 2022 Income Expenditure General funds S9.580 92,085 139,4151 112,250 Restrlcted lunds At 29 February 2024 Al 1 March 2023 Income Expenditure Building Fund 7,943 7,943 Al 28 February 2 023 Ai l March 2022 Income Expenditure Building Fund 18,065 18,065 14-