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2021-06-30-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE CHAPEL FOR ALL NATIONS

Charity Reg. No: 1141085

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS Report and Accounts for the period ended 30 June 2021

CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1141085

THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS Reports and Accounts

CONTENTS

Charity Information 1
Trustees annual report 2-4
Accountant's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to Accounts 8-10

THE REDEEMED CHRISTIAN CHURCH OF GOD -GRACE CHAPEL FOR ALL NATIONS Charity Information

General Overseer

Pastor E. A. Adeboye

Trustees

Pastor (Mrs) Arinade Olugbola Mr. Donalds Williamson Pastor Charles Ohams

Minister In Charge

Pastor Hope Olugbola

Charity Registration No:

1141085

Place of Worship

171 Rushmore Road Clapton London E5 0HA

Bankers

Lloyds TSB P O Box 1000 Andover BX1 1LT

Accountants

Gabriel Christopher & co Suite 13, Forest House 8 Gainsborough Road London E11 1HT

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD- GRACE CHAPEL FOR ALL NATIONS TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2021

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of GodGrace Chapel For All Nations (the church) for the year ended 30 June 2021. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Structure, governance and management

a. CONSTITUTION

The church was constituted under a trust deed dated 10 January 2011, and was registered as a charity on 01 April 2011 with Charity registration number 1141085.

b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS/TRUSTEES

Trustees are elected and co-opted under the terms of the trust deed.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees.

e. RELATED PARTY RELATIONSHIPS

RCCG Grace Chapel for All Nations is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.

f. RISK MANAGEMENT

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

Objectives and Activities

a. POLICIES AND OBJECTIVES

The objects of the Charity are:

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

C. ACTIVITIES FOR ACHIEVING OBJECTIVES

*Community Outreach Events

*Confrences and events

*Welfare support to members and general public, and

*Various missionary activities

Page 2

The Charity was involved in the following public benefit efforts:

d. GRANT MAKING POLICIES

Under the Common Purposes Agreement (see above), RCCG-Grace Chapel for All Nations has agreed to make contributions to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.

e. VOLUNTEERS

The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 800 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteers effort amounts to over £8,000.

Achievements and performance

a. REVIEW OF ACTIVITIES

We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in the deeds.

b. INVESTMENT POLICY AND PERFORMANCE

The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

Financial review

The charity's financial statement for the year ended 30 June 2021 shows a net increase in fund of £4,442 (2020: £433 increase).

The value of the charity's net assets at 30 June 2021 was a surplus of £4,488 (2020: a surplus of £46).

a. RESERVE POLICY

The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.

b. PRINCIPAL FUNDING

This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

Plans for the future

a. FUTURE DEVELOPMENTS

The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life- changing impact in society.

Page 3

Trustees' Responsibilities in Relation to the Financial Statements

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.

The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:

a) Select suitable accounting policies and apply them consistently;

c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.

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

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Signature: DonaldsWilliamson

Name: Donalds Williamson

Date: 23/09/2021

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS

I report on the accounts of the Trust for the period ended 30 June 2021, which are set out on pages 6 to 10.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 includes consideration of any unusual items or disclosures in the Accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the Accounts.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that any material respect the requirements:

  2. to keep accounting records in accordance with section 41 of the Act, and

  3. 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 my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.

A G Oyewole FCCA

Gabriel Christopher & co Chartered Certified Accountants Suite 13, Forest House 8 Gainsborough Road London E11 1HT

23/09/2021

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS Statement of Financial Activities for the year ended 30 June 2021

2021 2020
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Incoming resources from generated funds:
Voluntary income:donations 2 19,822 250 20,072 32,853
Grant 3 10,000 10,000 -
Activities in furtherance of the charity - - - -
objects -
Total Incoming Resources 19,822 10,250 30,072 32,853
Resources Expended
Charitable activities 3 17,596 6,371 23,967 30,201
Governance costs: 4 1,663 - 1,663 2,220
Total Resources expended 19,259 6,371 25,630 32,421
Net Incoming/(Outgoing) Resources for the year 563 3,879 4,442 433
Total funds at 1 July 2020 (334) 380 46 (387)
Total funds at at 30 June 2021 6 229 4,259 4,488 46

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS Balance sheet as at 30 June 2021

Notes
FIXED ASSETS
Tangible Fixed Assets
8
CURRENT ASSETS
Debtors
Cash in Hand/ Bank
CREDITORS:
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:
Amount falling due more than a year
10
NET ASSETS
ACCUMULATED FUNDS
Restricted
11
Unrestricted
11.1
TOTAL FUNDS
Amount falling due within a year		 £
-
6,045

Approved by the Trustees and Signed on their behalf:

Signature: DonaldsWilliamson

Name: Donalds Williamson

Date: 23/09/2021

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD-GRACE CHAPEL FOR ALL NATIONS Notes to the financial statements for the period ended 30 June 2021

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007).The financial statements have been prepared in accordance with the Statement of Recomended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administring such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

1.3 Incoming resources

These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted-funds.

2. Voluntary Income: Donations
Tithes & Offerings
Gift Aid
Building Fund
3. Grants:
Covid-19 grants		 Unrestricted
Restricted
Total
2021
2021
2021
2020
£
£
£
£
17,787
-
17,787
27,725
2,035
-
2,035
5,129
-
250
250
-
19,822
250
20,072
32,853
Unrestricted
Restricted
Total
Total
2021
2021
2021
2020
£
£
£
£
-
10,000
10,000
-
-
10,000
10,000
-

Page 8

4.CHARITABLE ACTIVITIES- (Direct charitable expenditure)

This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.

Central Office
World Evangelical Mission
Welfare, Donations, & Hospitality
Visiting speakers expenses
Community projects and food bank
Seminar & Conferences
Motor Expenses
Sunday school
Repairs and renewals
Rent & Rates
Heating & Lighting
Telephone & fax & internet
Admin expenses
Religious Books & CDs
Depreciation
Bank charges & interest
5. GOVERNANCE COSTS
Legal & professional fees
Accountancy fee
Insurance
5.1 NET MOVEMENT IN FUNDS FOR THE YEAR
The net movement in funds for the year is stated
after charging
Depreciation of tangible fixed assets
Legal & Professional fees		 Unrestricted
Restricted
2021
2021
2020
£
£
260
-
265
1,040
-
1,060
1,495
-
267
420
-
905
-
6,371
-
-
-
500
139
-
-
85
-
-
39
-
317
12,064
-
24,213
1,175
-
1,029
374
-
378
173
-
742
-
-
100
331
-
404
-
-
21		 Unrestricted
Restricted
2021
2021
2020
£
£
260
-
265
1,040
-
1,060
1,495
-
267
420
-
905
-
6,371
-
-
-
500
139
-
-
85
-
-
39
-
317
12,064
-
24,213
1,175
-
1,029
374
-
378
173
-
742
-
-
100
331
-
404
-
-
21
17,596
6,371
2021
£
772
600
291
1,663
2021
£
331
772
1,103		 30,201
2020
£
552
600
1,068
2,220
2020
£
404
552
956

6.DEPRECIATION

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Church & office equipment

18% reducing balance

7. FUNDS
At 1 July
Surplus/(Deficit) for the year
At 30 June		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2021
2021
2021
2020
£
£
£
£
(334)
380
46
(387)
563
3,879
4,442
433
229
4,259
4,488
46

Page 9

8. FIXED ASSETS

8. FIXED ASSETS
Cost
At 1 July 2020
Additions
At 30 June 2021
Depreciation
At 1 July 2020
Charge for the year
At 30 June 2021
Net Book Value
At 30 June 2021
Net Book Value
At 30 June 2020		 Equipments
£
7,463
-
7,463
5,623
331
5,954
1,509
1,840
1,840		 Total
£
7,463
-
7,463
5,623
331
5,954
1,509
1,840
1,840

9.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Profesional Fee
Loan		 2021
£
1,300
1,765
3,065		 2020
£
1,200
1,765
2,965

11. UNRESTRICTED FUNDS

These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.

11.1 RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.

Page 10