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2020-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

Charity registered number: 1141059
Company Reg. number 09782218

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

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THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

CONTENTS
Trustee's Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts		 Page
3-5
6
7
8-9
10 – 15

1

THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERSFOR THE YEAR ENDED

31 DECEMBER 2020

General Overseer: Pastor E A Adeboye
Trustees; Mr Oriyomi O’Peters
Mr Olugbenga Onakomaiya
Mr Mobolaji Akinlolu Lewis
Pastor in Charge: Pastor Olugbenga Awopetu
Charity registered number: 1141059
Company Reg. number 09782218
Principal office: 1stFloor
1 Russell Way
Chelmsford, Essex
CM1 3AA
United Kingdom
Bankers: NatWest PLC
Church worship address: 1stFloor,
1 Russell Way
Chelmsford, Essex
CM1 3AA
United Kingdom
Independent Examiner: JOS ACOUNTANTS
Unit 3, 51-57 High Street South
East Ham, London
E6 6EJ
United Kingdom

2

THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees of RCCG – Power of Jehovah Essex present their report and Financial Statements for the period ended 31[st] December 2020 which have been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in October 2000 and Revised SORP 2005.

Structure, Governance and Management

a. CONSTITUTION

The church is constituted under a Trust deed dated 5 April 2012 and is a registered charity with charity registration number 1141059.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

New trustees are elected based on the contribution that they will make to the governance of the organization and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance to trustees and introduced the activities of the charity by the existing board.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Existing trustees are provided with training as and when required.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The board of Trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. All the present employees of the Charity are voluntary workers. The Trustees are responsible for making all decisions regarding allocation of fund and activities.

e. RELATED PARTY RELATIONSHIPS

Power of Jehovah Essex is a parish of The Redeemed Christian Church of God - a network comprised of parishes all over the world. There is an agreement for common purposes entered by Power of Jehovah with The Redeemed Christian Church of God which documents this relationship.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The charity's objects are:

1 The advancement of the Christian religion worldwide; and 2 The relief of poverty.

It pursues these objects by the operation of a Christian worship Centre at a leased property 1[st] Floor, 1 Russell Way, Chelmsford, Essex, CM1 3AA, United Kingdom.

b. ACTIVITIES FOR ACHIEVING OBJECTIVES

The major activities that contributed to the achievement of these objectives were:

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THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020 - CONT’D

c. GRANT MAKING POLICIES

Grants are made to other charitable bodies. The church supports missionary organizations such as the Festival of Life and the World Evangelism Mission, and other missions and projects within and outside the UK. The church also provides support to members of the congregation who are in needs based on guided policy of the charity.

d.VOLUNTEERS

The church is grateful and happy with the commitment and efforts of its volunteers who are involved in services provision. The church has 35 active volunteers, committed to working in various departments in the church. The church continues to train its volunteers to ensure qualitative deliveries.

e. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate against exposures to the major risks.

Achievements and performance

In addition to spreading Christianity faith in our community, the Charity is also in to mentoring program with some University student at Anglia Ruskin University on relationships and how to become better citizens. This is a breakthrough for the church in imparting positively the university community.

Review of Transactions and Financial Position .

Gross Income
Net movement of funds
Net book value		 2020
£
165,653
42,354
73,977		 2019
£..
117,527.
(1,071)
31,623

Plans for Future developments

In the coming year, the Charity plans to continue to get more involved in the community activities by reaching out to the Homeless and other vulnerable members of the community, by providing basic needs like foods items and others as may be within the church financial power.

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THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

TRUSTEES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020- CONT’D

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the

Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the Church and of the surplus or deficit of the Church for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

The Trustees appointed JOS Accountants as the Charity’s independent examiner. A resolution for reappointment as independent examiner will be proposed during the Trustees meeting.

This report was approved by the trustees and signed on its behalf by:

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13/09/2021
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THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

INDEPENDENT EXAMINERS REPORT

We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes and the accounting policies of The Redeemed Christian Church of God- Power of Jehovah for the period ended 31[st] December 2020.

Respective responsibilities of trustees and independent examiner

As described on page 3, the trustees are responsible for the preparation of the financial statements. It is my responsibility to carry out an examination of those financial statements and to issue a report based on that examination.

Scope of examination

I conducted my examination in accordance with directions given by the Charity Commissioners under section 43(7)(b) of the Charities Act 1993. An examination is limited to enquiries of the charity's personnel and analytical and review procedures applied to financial data and this provides less assurance than an audit. I have not performed an audit, and accordingly, I do not express an audit opinion.

Independent examiner's statement

Regarding our 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 41 of the Act; and

• To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or

  1. To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

20/09/2021 ------------------------------------------ (signed and dated) Onasanya Ogundele JOS ACCOUNTANTS LTD Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom

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THE REDEEMED CHRISTIAN CHURCH OF GOD

POWER OF JEHOPHA ESSEX

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

INCOME & ENDOWNMENT
Donations and legacies
Other Income
EXPENDITURE ON:
Total charitable activities
Governance costs
Excess/(deficit) Income
Funds brought forward		 NOTES
2
6
7		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
165,653
-
165,653
116,659
868
165,653
-
165,653
117,527
122,649
-
122,649
118,598
650
-
650
-
123,299
-
123,299
118,598
42,354
-
42,354
-
1,071
31,623
-
31,623
32,693
73,977
-
73,977
31,623

The notes thereon form integral part of the accounts

7

THE REDEEMED CHRISTIAN CHURCH OF GOD
POWER OF JEHOPHA ESSEX
BALANCE SHEET
AS AT 31 DECEMBER 2020 Current year Current year Current year Prior year
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2020 2020 2020 2019
Assets: NOTES £ £ £ £
Fixed Assets 8 439 -
439		 1,468
Investments 18,000 - 18,000 -
18,439 - 18,439 1,468
Current assets
Debtors - -
-
9,124
Gift aid receivables 36,988 -
36,988		 15,211
Cash & bank 29,571 - 29,571 7,070
66,558 - 66,558 31,405
Creditors: Amount falling due
within one year 9 11,020 - 11,020 1,250
Net working capital 55,538 - 55,538 30,155
73,977 -
73,977		 31,623
Financed by:
General Funds 73,977 -
73,977		 31,623

The notes thereon form integral part of the accounts

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THE REDEEMED CHRISTIAN CHURCH OF GOD RCCG POWER OF JEHOVAH ESSEX

BALANCE SHEET 31 DECEMBER 2020 – CONT’D

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2020 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 and were signed on its behalf by:

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13/09/2021
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…………………………………………………} 13/09/2021
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Mr Olugbenga Onakomaiya (Director/Trustee)

9

THE REDEEMED CHRISTIAN CHURCH OF GOD RCCG POWER OF JEHOVAH ESSEX

NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1 Accounting Policies:

The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, “Accounting and Reporting by

Charities” (“SORP 2000 and SORP 2005”) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below.

a) Basis of Preparation of Financial Statements

The financial statements are prepared under the historic cost convention and include the results of the Charity's operations, which are described in the Trustees Report, all of which are continuing.

b) Comparative Figures

Comparative figures are shown on the statement of accounts of the charity for the balance sheet (previous account is a statement of affairs) figures only. Comparative figures are not shown as this is the first accounts of the charity after the registration.

c) In-coming Resources

All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.

d) Restricted funds

Restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs. There was no restricted fund during the year.

e) Unrestricted Funds

Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds.

f) Resources Expended

Direct Charitable Expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives.

Governance expenditure includes all costs not directly related to the Charitable activities and cannot be allocated to direct charitable expenditure.

g) Donated Services and Gifts in Kind

The value of donated services and gifts in kind provided to the RCCG – Power of Jehovah Essex is recognised in the statement of financial activities and in the balance sheet at their value to the charity, as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.

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THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOVAH ESSEX

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 – CONT’D

h) Tangible Fixed Assets

Tangible fixed assets with a value exceeding £100 are recognised in the balance sheet at cost or revalue figures less depreciation calculated at rates intended to write off the excess of the cost over the anticipated residual value of the assets on a straight-line basis over their estimated useful economic lives.

Full year depreciation is charged in the year of acquisition, irrespective of the date of purchase and no depreciation is charged in year of asset disposal. The following rates are to be used except where the asset is on a finance lease where the lower of the period of repayment and the useful life is applied.

Office fixture & fittings 20% Partitioning & refurbishment 20% Motor vehicle 20%

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THE REDEEMED CHRISTIAN CHURCH OF GOD

POWER OF JEHOPHA ESSEX

NOTES TO THE ACCOUNTS ENDED

31 DECEMBER 2020 CONT'D

Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015

as required by the SORP 2015
NOTES
2
Donations, grants and legacies
Tithe & offering
Rent donation
Gift Aid receivable
Grant
Other Income
3
Charitable activities- Direct
spending
Outreach & publicity
Conferences & Seminars
Welfares
Training and development
Entertainment & hospitality
Visiting ministers		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
87,304
- 87,304
84,201
22,428
- 22,428
17,296
21,826
- 21,826
15,162
28,500
- 28,500
-
5,594
-
5,594
-
165,653
-165,653
116,659
947
-
947
1,881
250
-
250
517
52,048
-
52,048
48,572
2,666
-
2,666
125
-
-
-
1,421
1,362
-
1,362
1,650
57,272
-
57,272
54,165

12

THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOPHA ESSEX

NOTES TO THE ACCOUNTS ENDED

31 DECEMBER 2020 CONT'D

31 DECEMBER 2020 CONT'D
Current year Current year Current year Prior year
Unrestricted Restricted Total Total
NOTES Funds Funds Funds Funds
4 Charitable activities- Grant 2020 2020 2020 2019
funding activities £ £ £ £
RCCG- Central Office 4,300 -
4,300		 1,950
Other Organizations 1,490 -
1,490		 350
Individuals - - - -
5,790 - 5,790 2,300
5 Support costs for charitable activities
Premises & administrative costs
Rent and rate 42,551 - 42,551 46,386
Printing and stationery 1,999 -
1,999		 380
Subscription 533 -
533		 317
Repairs and maintenance 100 -
100		 448
Travel 1,975 -
1,975		 3,957
General expenses -
-		 - 707
Telephone & Communication 2,471 -
2,471		 2,658
Utilities 1,253 -
1,253		 1,759
Insurance expenses 1,510 -
1,510		 1,530
Accountancy fee 900 -
900		 1,355
Legal & professional fee 5,265 -
5,265		 -
Depreciation 1,029 - 1,029 1,985
59,586 - 59,586 61,483

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THE REDEEMED CHRISTIAN CHURCH OF GOD POWER OF JEHOPHA ESSEX

NOTES TO THE ACCOUNTS ENDED 31 DECEMBER 2020 CONT'D

NOTES TO THE ACCOUNTS ENDED
31 DECEMBER 2020 CONT'D		 DED
NOTES
6
7
8		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
Total charitable expenditure
£
£
£
£
Direct spending
57,272
- 57,272
54,165
Grant making activities
5,790
-
5,790
2,300
Support costs
59,586
-59,586
61,483
122,649
-122,649
117,948
Other expenditure- governance costs
Independent examination
650
-
650
-
Fixed assets
Office
Motor
Equipment
Partitioning
Vehicle
Total
£
£
£
£
Costs at 1st January 2020
19,746
15,898
10,294
45,938
Addition
- - - -
19,746
15,898
10,294
45,938
Depreciation
As at 1st January 2020
19,745
15,897
8,828
44,470
Charged for the period
- -
1,029
1,029
19,745
15,897
9,858
45,500
Net book value
December 31, 2020
1
1
437
439
December 31, 2019
1
1
1,466
1,468		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
57,272
- 57,272
54,165
5,790
-
5,790
2,300
59,586
-59,586
61,483
122,649
-122,649
117,948
Office
Motor
Equipment
Partitioning
Vehicle
Total
£
£
£
£
19,746
15,898
10,294
45,938
- - - -
19,746
15,898
10,294
45,938
19,745
15,897
8,828
44,470
- -
1,029
1,029
19,745
15,897
9,858
45,500
1
1
437
439
1
1
1,466
1,468

14

THE REDEEMED CHRISTIAN CHURCH OF GOD

POWER OF JEHOPHA ESSEX

NOTES TO THE ACCOUNTS ENDED

31 DECEMBER 2020 CONT'D

NOTES
9
Debtors & receivables
Debtors and prepayments:
Prepaid rent
10
Creditors: Amount falling due
within one year
WEM-COF
Rent
Accrual		 Current year
Current year
Current year
Prior year
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2020
2020
2020
2019
£
£
£
£
-
- -
-
-
- -
9,124
-
- -
9,124
-
- -
-
11,020
-
11,020
-
-
- -
1,250
11,020
-
11,020
1,250

15