2023-12-31-accounts - Redeemed Christian Church Of God: Place Of His Presence

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REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE

Report and Financial Statements For the year ended 31 December 2023

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

Contents	Page
Legal and Administrative Information	2
Report of the Trustees	3-7
Independent Examiner's Report	8
Statement of Financial Activities	9
Balance sheet	10
Notes forming part of the Financial statements	11-13

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE

ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

LEGAL AND ADMINISTRATIVE INFORMATION

Officers and Professional advisers

TRUSTEES

PEACE EDETANLEN

REGISTERED OFFICE

C/O RINGWAY CENTRE 268 BARING ROAD LONDON SE12 0DS

EXAMINER

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

CHARITY COMMISSION REGISTERED NUMBER

1141379

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees, for the Charities Act 1993 as amended and Statement of Recommended Practice (SORP) 2005, submit their management account for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual report and financial statements of the Charity. The Charity is governed by a Memorandum and Articles of Association.

PRINCIPAL ACTIVITIES, AIMS AND ORGANISATION OF THE CHARITY

The Objects of the organisation are first to advance the Christian faith under the statement of beliefs for the benefit of the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

THE MAIN ACHIEVEMENTS OF THE ORGANISATION DURING THE PERIOD WERE:

The Organisation continues to hold successful meetings throughout the year in which individuals are equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences during the year which individuals came from all around the community to attend. This has produced good results in reaching and helping members of the community.

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE REPORT OF THE TRUSTEES (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2023.

INCOME GENERATION

The Charity has generated £46,036.00 from offerings, tithes and contributions during the year. This includes both direct transfers into the charity’s account and cash donations. The main cost of the organisation is currently missions and evangelisms. However, the organisation is still in a good position to manage its costs.

RISKS

The factors that may affect the Charity’s delivery of its objectives include:

a) Reputation of Charity and the relationship with the community.
b) Ability to generate enough funds to complete the identified projects for the charity.

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE produces an annual plan for delivery against its objectives. This plan sets out the targets for the year and is then broken down into a work plan. REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE have developed a strategy, which specifies how it will deliver the key programmes of work. The strategy also identifies targets and performance indicators.

RESERVES POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2023

GOVERNANCE AND INTERNAL CONTROL

A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years.

The Board meets twice a year to agree on key policy decisions, set the strategy for the charity and oversee its performance. At present, the Board has committee members who are responsible for the day-to-day activities of the charity. None of the committee members is being remunerated.

All Trustees receive the handbook for Trustees provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this, the Charity follows the code of practice for governance produced by the Governance Hub.

Company law requires the Trustees to prepare financial statements for each financial year, which comply with the Charities Act 1993 as amended

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

They include:

A strategic plan and annual budget approved by the Trustees.
regular consideration by the Trustees of financial results, in particular, variance from the budget; and
Delegation of authority and segregation of duties.

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements following applicable laws and regulations.

Company law requires the trustees to prepare financial statements for each financial year following UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently.
make judgements and estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in its activities.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 1993 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 DECEMBER 2023

DISCLOSURE OF INFORMATION TO EXAMINER

The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information.

EXAMINER

In line with the provision exemption in the Charities Act 1993, as amended, the trust decided to appoint an examiner, which will review the accounts for the year ended 31 January 2025. Following this appointment, AACSL Accountants Limited acted as an examiner.

Approved by the Board of Trustees and signed on behalf of the Board by:

P.E.

PEACE EDETANLEN on behalf of the trust.

15[th] September 2024.

Independent Examiner’s Report to the Trustees of REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE

We report on the accounts of the Trust for the year ended 31 December 2023, which are set out on pages 9 to 13.

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 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed.

It is our responsibility to:

examine the accounts (under section 43(3)(a) of the 1993 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
To state whether matters have come to our attention.

Basis of independent examiner’s report

Our examination was carried out following 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, we do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

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

(1) Which gives us reasonable cause to believe that in any material respect the requirements,

to keep accounting records following section 41 of the 1993 Act; and
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act as amended.

Have not been met; or

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

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS.

15[th] September 2024

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 31ST DECEMBER 2023

Un-restricted funds 2024 £ 46,036	Restricted Funds 2024 £ -	Total Funds 2024 £ 46,036
46,036	-	46,036
1,854 39,658	- -	1,854 39,658
41,512	-	41,512
4,525 -	- -	4,525 -
4,525	-	4,525

All incoming resources are derived from continuing operations. The charity has no other gains or losses other than those recognised in the Statement of Financial Activities.

REDEEMED CHRISTIAN CHURCH OF GOD PLACE OF HIS PRESENCE BALANCE SHEET AS AT 31ST DECEMBER 2023

Notes £ FIXED ASSETS CURRENT ASSETS Cash at bank and in hand 4 Total Asset Less Current Liabilities Current Liabilities Creditors: amounts falling due more one year 5 NET ASSETS FINANCED BY: Unrestricted funds 7 Restricted Funds TOTAL FUNDS	2025 Total £ - 5,974
	5,974 5,974
	-
	5,974
	5,974 -
	5,974

For the year ended 31 December 2023, the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006.

The members have not required the company to obtain an audit per section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirements of the Companies Act 2006 for accounting records and the preparation of accounts.

The Accounts was approved by the Board of Trustees and signed on behalf of the Board by:

PEACE EDETANLEN on behalf of the trust. 12[th] September, 2024.

REDEEMED CHRISTIAN CHURCH OF GOD: PLACE OF HIS PRESENCE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMEBER 2023

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared following the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (2005), the Charity Act 1993 and applicable UK accounting standards.

Cash flow statement

Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement because the charity is below the threshold specified in Appendix 2 of the FRS1.

Fund accounting

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

Restricted funds are funds which are to be used following specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in Note 2.

Investment income and gains are allocated to the appropriate fund.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, the income is accrued.

Resources expended

All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Premises overheads have been allocated on a floor basis and other overheads have been allocated based on the headcount.

Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. Governance costs are those incurred in connection with the governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements. The basis of allocation for support costs and governance costs has been explained in Note 3.

REDEEMED CHRISTIAN CHURCH OF GOD PLACE OF HIS PRESENCE NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2023

Note 2. Incoming Resources - General Donations

Note 2. Incoming Resources - General Donations
Tithes & Offerings Note 3. Resources Expended - Activities Evangelism and world mission Travel	Unrestricted Funds £ 46,036 46,036 Unrestricted Funds £ 35,879 384	Restricted Funds £	2023 Total Funds £ 46,036 46,036 2023 Total Funds £ 35,879 384
		-
		Restricted Funds £ - -
Bank Charges	300	-	300
Equipments (for new parishes) Welfare	2,467 1,312	- -	2,467 1,312
Mobile and Internet	670	-	670
Software Subscription	499	-	499 41,512
	41,512	-

Note 4. Cash at bank and in hand	2023
Cash at bank Note 5. Creditors: amounts falling due more than	£ 5,974 5,974 one year 2023 £ -

Note 6. Movement in funds

Unrestricted funds Charity's fund Restricted funds Gift Aid Note 7. Analysis of net assets by fund Cash at bank and in hand	Opening balance £ - - - - Unrestricted Funds £ 5,974 5,974	Incoming resources £ 46,036	Resources expended £ (41,512) (41,512) - (41,512) 2023 Total Funds £ 5,974 5,974
		46,036
		-
		46,036
		Restricted Funds £ -
		-

Note 8. TRUSTEES REMUNERATION

The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2024: £nil)

Note 9. As a company, THE REDEEMED CHRISTIAN CHURCH OF GOD - PLACE OF HIS PRESENCE is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its objects.

The ultimate controlling parties are the directors’ as stated on page 2.

Note 10. Control