2023-12-31-accounts

Registered number: 07530478 Charity number: 1141424 THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) CONTENTS Page Reference and admlnlstratlve detalls of the Charlty, Its Trustees and advlsers Trustees. report Independent examlner's report ststement of financial activitlOS Balance sheet ststement of cash flows Notes to the financial statements 14-31

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Dr Oludare Adelokunbo Demuren, Chair Dr Adeniyi Faboya Dr Abiodun Olayinka Obisesan Mr Akinlayo Akinsooto Ojo Company registered number 07530478 Charity registered number 1141424 Registered office C02 8GU Company secretary Pastor Abiodun Obisesan Accountants AdeKay & Co Limited Chartered Certified Accounlanls 6 Medcalf Road Enfield EN3 6HL Bankers HSBC 26 High Street Colchesler C01 1DQ Barclays Bank PIC 9 High Street Colchesler Essex C01 1DA Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report together with the financial slalements of the Charity for the yearyear ended 31 December 2023. The annual report serves the purposes of both a Trustees, report and a direclor5' report under company law. The Trustees confirm that the annual report and financial stslemenls of the charitable company comply with the current statutory requirements. the requirements of the Charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. Since the Charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Reporti Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The Charity is Constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. The principal object of the Redeemed Christian Church of God is the advancement of the Christian faith woddwide and relief of povety. Our primary objective is to seek the advan￿Ment of Christian religion In accordance with preaching of the faith of the earfy Apostles and wherever possible. educate people using the word of God as our guide. We aim to establish and manage schools, Bible schoo15, vocational Bible schools, correspondence courses, and to teach religious knowledge in schools, inslilulions and the wider community. In setting objectives and planning for aclivilies, the Trustee5 have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Publi¢ benefit.. running a charity IP821'. b. Strategies for achieving objectives The charity has adopted the following strategies for achieving the above objectives.. organisation of conferences and events with proven speakers and ministers of the faith to inspire and guide members., and financial and administrative support for other charities and Christian events with like purposes. c. Activities undertaken to achieve objectives The charity seeks lo achieve its objectives by.. Various missionary aclivilies. Community Outreach Events. Provision of welfare support to members,. and Conferences & Events. Page 2

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Objectives and activities {¢ontinuedl d. Public Benefit Statement The Board of Trustees confimi that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011, and have had due regards to the Charity Commission's general guidan￿ on public benefit. Particular consideration has been given lo the Charity Commission's supplementary public guidance provisions on the advancement of religion for the public benefit e. Volunteers The Church is grateful for the unstinting efforts of its volunteers who are Involved in service provision. It Is estimated that over 7,500 volunteer hours were provided during the year. If this is conservatively valued at £8.50 per hour, the volunteer efforts amount to over £63,750. Achievements and performance a. Review of activities During the year under review, the Church was of benefit to ils congregation and its local community both spiritually and to a limited extent, financially. The church continues to run its Sunday and midweek services for the benefit of local community members. The charity supported povety alleviation in the community by giving out food items to those who are less able lo meet their basic needs during the year. We continue lo support our community through our food bank donations month on month. We participated in a Christmas initiative tagged 'Love Your Neighbour.. In this Initiative with our fund commitment and counterpart funding received we were able to make boxes of Christmas dinner available to families in Colchester In line with our Community Social Responsibility, we have continued to.. Support the Blind Society in Nigeria De￿mber 2023 Support Community Poverty- Food Bank donations month on month. Support people and help people lo lose weight by allowing Slimming Worfd to use our facilities Support fellow Christians such as Jesus Reigns Ministry by allowing them to use our facilities Penlecosl Celebration with other churches in Colchesler June 2023 Support Samaritan's Christmas Child Appeal Church BBQ- August 2023 Free family Fun Fair- September 2023 Christmas Celebrations December 2023 Regular Weekly & Monthly Activities.. Weekly Midweek prayers Weekly House Fellowship Weekly Bible studies Monthly Communion Services Monthly Night Vigil Women's Eady Morning Prayers Men's Early Morning Prayers Page 3

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and performance lcontinuedl Women's Monthly Night Vigil Bi-monthly Marriage Seminars Breakfast meelinglseminars Conferences.. Daughters of Zion conference May 2023 Province Conference June 2023 Province 2 Region 3 Women's Conference July 2023 Youth Conference August 2023 Pastors Province Conference November 2023 Prayer conferen￿ 2023 Workers Appreciation November 2023 Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review . Going ¢on¢em After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Reserves policy The Board of Trustees have established a policy whereby the unreslricled funds not commilled or invested in tangible fixed assets I'the free reserves'l held by the charitable company should be 3 months of average annual expenditure. At this level, the Board of Trustees holds the view that they would be able to continue the current activities of the charitable company in the event of a significant drop in funding. The Board of Trustees are in the prO￿sS of considering a review of the reserve policy lo be in the light of the wider strategic future plans. This is to ensure that the level of the reserve we hold are not only appropriate to our current position and annual expenditure, bul also taking into full cognisance what our future strategic plans are. c. Material investments policy The Board have decided that al present, funds should continue to 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. d. Principal funding This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects. Structure, governance and management a. Constitution The Redeemed Christian Church of God- Stil￿alers Colchesler is registered as a charitable company limited by guarantee and was sel up by a Memorandum of Association. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. Oryanisational structure and decision-making policies The church is organised so that the trustees meet regularly to manage ils affairs. There is a part lime adminislralor, who manages the day lo day administration of the Church. Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, governance and management Icontinuedl d. Policies adopted for the induction and training of Trustees Most trustees are already familiar with the activities of the charitable organisalion as they are drawn from members who have the skill set lo offer and empathy with our core values. Newly elected trustees are encouraged lo allend a series of training sessions led by the Chair. The courses attended equip the trustees with skills lo carry out their duties as trustees. The training enables them to understand.. Their obligation as Iruslees. The importance of the main documents which set out the operational framework for the charity including the Memorandum and Articles of association. The control of reSoUr￿S and Current financial position using the management accounts. Their responsibility for the slatulory accounts. How to translate future plans and objectives into budgets and plans. Use of budgetary control. During induction, they meet other trustees. As part of the induction training, they are encouraged to attend appropriate external events where these will facilitate the undertaking of their role. An Induction pack is provided for new Directorsff ruslees. e. Related party relationships The RCCG Slillwaters Colchester is member of the Redeemed Christian Church of God IRCCGI which has parishes all over the world. The parish's relationship with RCCG and other parishes is govemed by an 'Agreement for Common Purposes.. The parish supports visiting ministers of the gospel from within and outside the UK. Support is also given lo RCCG Central Office, World Evangelism Mission, Festival of Live and other RCCG Programmes. The parish also gives occasional grant to congregational members who are in need. f. Financial risk management The Trustees have assessed the major risks lo which the Charity is exposed, in particular those related lo the operations and fInan￿S of the Charity, and are satisfied that systems and procedures are In plaTr to mitigate exposure to the major risks. Plans for future periods The Church Intends to continue with ils activities for the foreseeable future and enlarge its operations as the reSOur￿S allow and according lo leading of the Holy Spirit. The charity continues lo expand its influence in and support for the community programmes and events. The charity plans to roll over the activities held for charitable purposes In 2023 to 2024 and adopt new projects. Board Members. liability The Board Members of the Charity guarantee to contribute an amount not ex￿edIng £1 to the assets of the Charity In the event of winding up. Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ststement of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounb"ng Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees mu51 not approve the financial stslemenls unless they are satisfied that they give 8 true and fair view of the state of affairs of the Charity and of Ils Incoming reSou￿e$ and application of resources, including its income and expenditure, for that period. In preparing these financial stslemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principle5 of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been foll()wed, subject to any materi81 departures disclosed and explained in the financial statements", prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity s transactions and disclose with ￿asOnable accuracy at any time the financial position of the Charity and enable them to ensure that the fi'nancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. DrAbiodun Olayinka Obisesan Trustee Dale." g October 2024 Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examlnerfs report to the Trustees ofThe Redeemed Chrlstlan Church of God- Stlllwaters Colchester I'the Charlty.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023. Responslbllltles and basls of report As the Trustees of the Charity land its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 20111'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement sin￿ the Charity's gross income ex￿eded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of (enter body here), which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act,. or the accounts do not accord with those records", or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which Is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charity's Trustees those mallers l am required to stale lo them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Adegboyega Adesigbin FCCA Dated.. 10 October 2024 ACCA AdeKay & Co Llmlted Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Chartered Certified Accountants 6 Medcalf Road Enfield EN3 6HL Page 9

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Investments 9.734 391,662 12,391 401,396 12,391 292,216 11,717 Total income 9,734 404,053 413,787 303,933 Exponditure on: Charitable activities 21.608 336.791 358,399 261,693 Total expenditure 21,608 336,791 358,399 261,693 Net movement in funds 111.8741 67,262 55,388 42,240 Reconciliation of funds: Totsl funds brought forward Nel movement in funds 193,894 11,8741 601,600 67,262 795,494 55,388 753,254 42,240 Total funds carried forward 182,020 668,862 850,882 795,494 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 14 to 31 form part of these financial statements. Page 10

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) REGISTERED NUMBER: 07530478 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Fixed assets Tangible assets 1.183.727 1, 184,416 1,183,727 1, 184,416 Current assets Debtors Cash al bank and in hand 723 147,517 24,609 92,087 148,240 116,696 Creditors.. amounts falling due within one year {66.495} (68, 725) Net current assets 81,745 47,971 Total assets less current liabilities 1,265,472 1,232,387 Creditors.. amounts falling due after more than one year {414.5901 (436,893) Net assets excluding pension asset 850,882 795,494 Total net assets 850,882 795,494 Charity funds Reslricled funds Unrestricted funds 182,020 668,862 193,894 601,600 Total funds 850.882 795,494 The Charity was entiued lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordan￿ with the provisions applicable lo entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 09 October 2024 and signed on their behalf by.. Page11

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) REGISTERED NUMBER: 07530478 BALANCE SHEET {CONTINUED) AS AT 31 DECEMBER 2023 Dr Abiodun Olayinka Obisesan Trustee Mr Akintsyo Akinsoolo Ojo Trustee The notes on pages 14 to 31 form part of these financial statements. Page 12

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operating activities Nel cash used in operating activities 109.902 48,435 Cash flovts from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets {12.391} {44,559) 71,718 (19,317) Net cash used in investing activities 156,950) 17,5991 Cash flows from financing activities Repayments of borrowing Repayments of finance leases (35, 148) 2.478 Net cash provided byl{used inl financing activities 2.478 135.1481 Change In cash and cash equlvalents In the year Cash and cash equivalents at the beginning of the year 55,430 5,688 92.087 86,399 Cash and cash equivalents at the end ofthe year 147.517 92,08T The notes on pages 14 to 31 form part of these financial statements Page 13

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General Infomiatlon Redeemed Christian Church of God Slillwaters Colchester is a company limited by guarantee incorporated and registered with the Charity Commission in England & Wales. The registered address is Heath House, Heath Business Park, Grange Way, Colchesler, C02 8GU. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial slalements have been prepared in accordan￿ with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Redeemed Christian Church of God- Stillwaters Colchester meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Going concern The Board consider that there are no material uncertainties about the charitable company ability lo continue as a going concern. The Iruslees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future and do not consider that there are any SoUr￿S of estimation uncertainty al the reporting date that have a significant risk of causing a material adjustment lo the carrying amounts of assets and liabilities within the next reporting period. 2.3 Income All income is recognised once the Charity has entillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to investment income is recognised at the time the investment income is re￿Iv3b1e. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, Including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned bel￿een those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on direcdy undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 14

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 2.4 Expenditure {continued) Grants payable are charged in the year when the offer is made ex￿pt in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with adminislralion of the charity and Complian￿ with constitutional and slatulory requirements. Charitable activities and G0Veman￿ costs are costs incurred on the charity's operations, including support costs and costs relating to the g0veMan￿ of the charity apportioned to charitable activities. 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tanglble flxed assets and depreclatlon Tangible fixed assets costing £NIL or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tsngible fixed asset into its intended working condition should be included in the measurement of cost. Al each reporting dale the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined lo be the higher of its fair value less costs to sell and ils value in use. An impairment loss is recognised where the carrying amount eX￿edS the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following basis.. Freehold propety Plant and machinery Motor vehicles Office equipment Computer equipment 20k straight line 250h straight line 250h reducing balan 250h straight line 330k straight line 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Page 15

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.9 Llabllltles and provlslons Liabilities are recognised when there is an obligation at the balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or the amount il has re￿iVed as advanced payments for the goods or setvices it musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. 2.10 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Flnanee leases and hlre purchase Assets obtained under hire purchase contracts and finance leases are capilalised as tsngible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substsntially all of the benefits and risks of ownership are assumed by the Charity. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charyed to the statement of financial activities so as to produ￿ a constant periodic rate of charge on the net obligation outstanding in each period. 2.12 Operatlng leases Rentals paid under operating leases are charged lo the statement of financial activities on a straight line basis over the lease temi. Page 16

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 2.13 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordan￿ with specific reslriclions 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 the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacles Restrlcted Unrestrlcted funds funds 2023 2023 Total funds 2023 Donatlons Tithes Collection al all services Gift Aid 132,607 178,549 44,643 132,607 178,549 44,643 Similar incoming resources Bookstall income Welfare Collection 2,340 528 2,340 528 Provin￿ Funds 9,734 9,734 3.943 cOnfereen￿ registration & offering 3,943 Subtotal detailed disclosure 9,734 362,610 372,344 Donations Camp Ground Project 22,189 6,883 22,169 6,883 Subtotal 29,052 29,052 9,734 391,662 401,396 Page 17

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donatlons and legacles Icontlnuedl Restricted Unrestricted funds funds 2022 2022 Total funds 2022 Donatlons Tithes Colleclional all services Gift Aid Similar incoming resources Bookstall income Other income Church Bus Pledge provin￿ Funds Conference registration & offering 104,060 114,057 40,433 104,060 114,05T 40,433 286 978 286 978 5,000 20,927 1,330 5,000 20,927 1,330 Subtotal detailed disclosure 25,927 261, 144 287,071 Donations Similar incoming resources 5,144 5,144 Subtotal 5,145 5,145 25,92T 266,289 292,216 Investment Income Unrestrlcted funds 2023 Total funds 2023 Investment income - rental income Investment income - interest re￿1vable 12,220 171 12,220 171 12,391 12,391 Page 18

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Investment Income Icontlnuedl Unrestricted funds 2022 Total funds 2022 Investment income - ￿nI81 income Investment income - interest receivable 11,710 11,710 11,717 11,717 Anatysis of grants Grants to Institutions 2023 Total funds 2023 Grants- Missionary 53,960 53.960 Grants to Institutions 2022 Tot81 funds 2022 Grants- Missionary 34,289 34,289 The Charity has made the following Material grants to institutions during the year.. Page 19

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of grants Icontlnuedl 2023 2022 Name of institution RCCG World Evangelism RCCG Central Offi RCCG Camp Ground RCCG Province RCCG Other Charities RCCG Others 33.113 3,056 8,000 2.559 3.880 3,102 250 29,639 1,200 2,850 RCCG African Mission 600 53.960 34,289 53.960 34,289 Anatysls of expendlture on charltable actlvltles Summary by fund type Restrlcted Unrestrlcted funds funds 2023 2023 Total 2023 Support costs Direct costs 21,608 238,453 98,338 260,061 98,338 21,808 336,791 358,399 Restricted un￿s1￿cted funds funds 2022 2022 Total 2022 Support costs Direct costs 13,334 195,861 52,498 209, 195 52,498 13,334 248,359 261,693 Page 20

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture on charltable actlvltles Icontlnuedl Summary by expendlture type Staff costs Depreclation Other costs 2023 2023 2023 Total 2023 Support costs Direct costs 64,942 45,249 149,870 98,338 260,061 98.338 64,942 45,249 248,208 358,399 Staff Gosts Depreciation 2022 2022 Other costs 2022 Total 2022 Support costs Direct costs 62,092 43,346 103,757 52,498 209, 195 52,498 62.092 43.346 156.255 261,693 Analysis of expenditure by activities Advanceme ntof christian faith 2023 Grant funding of activities 2023 Support costs 2023 Total funds 2023 Support costs Direct costs 260,061 260,061 98,338 44,378 53,960 44,378 53,960 260,061 358,399 Page 21

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Advancgmen t of christian faith 2022 GTrnt funding of activities 2022 Support costs 2022 Total funds 2022 Direct costs Support costs 209, 195 209, 195 52,498 18,209 34,289 18,209 34,289 209, 195 261,693 Anatysis of direct costs Advanceme ntof hristian faith 2023 Total funds 2023 Visiting Ministers expenses Rates 15,720 8,622 11,258 8,778 15,720 8,622 11,258 8,778 Evangelism & special events Ministry expenses 44,378 44,378 Advancemen È of christian feith 2022 Total funds 2022 Visiting Ministers expenses Rates Ministry expenses Hire of equipment 6,546 9,(107 2,250 406 6,546 9,007 2,250 406 18,209 18,209 Analysis of support costs Page 22

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Total funds 2023 Total funds 2022 Staff costs 64,942 45.249 1.685 19,100 3,836 95 62,092 43,346 2,288 2,745 3,044 Depreciation Music and euipmenl Gas and electricity Insuran Telephone Cleaning Loan interest Welfare Professional fees Printing, postages and stationery Bank charges Conference and Meetings Motor expenses Travel Mortgage interest Training Admin services & costs Dues and subscriptions Advertising and promotion Volunteer costs 2.816 16,947 15,607 460 1.220 743 3,072 8.297 1, 792 8,466 12,677 855 1,118 688 774 750 580 13,334 275 21,608 3,603 18.304 1.687 2,586 4,024 5.850 4.807 827 2,052 1.800 17,192 928 696 829 Bookkeeping and accounbng services Computer and IT support Health and safely Repairs,renewals and maintenance Community Engagements costs Technical Services costs Independent Examiners, fees 5,500 1,89T 45 13,084 10,750 1,650 2,000 2,000 260,061 209, 195 Page 23

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examlner's remuneratlon 2023 2022 Fees payable lo the Charity'5 independent examiner for the independent examination of the Charity's annual accounts 2.000 2,000 staff costs 2023 2022 Wages and salaries Social security costs 64.942 60,0(X) 2,092 64,942 62,092 The average number of persons employed by the Charity during the year was as follows.. 2023 No. 2022 No. Ministry No employee re￿iVed remuneration amounting lo more than £60,000 in either year. 10. Trustees. remuneration and expenses During the year, no Trustees re￿iVed any remuneration or other benefits (2022- £NIL). During the year ended 31 December 2023, no Trustee expenses have been incurred (2022- £NIL). Page 24

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Tanglble flxed assets Freehold property Plant and machinery Motor vehicles Computer equipment Total Cost or valuation At 1 January 2023 Additions 1.391.856 114,828 15,665 27.594 64.187 28.894 1,598,465 44,559 At 31 December 2023 1,391,856 130,493 27,594 93.081 1,643,024 Depreclatlon At 1 January 2023 Charge for the year Other unallocated 241,701 27.837 103,531 7,628 22,731 1.216 46,085 8.568 414,048 45,249 At 31 December 2023 269,538 111.160 23.947 54.653 459,298 Net book value At 31 December 2023 1.122.318 19,333 3.647 38.428 1.183.726 At 31 De￿mber 2022 7, 150, 155 11,296 4,863 78,102 7,184,416 12. Debtors 2023 2022 Due within one year Other debtors Gif Aid Tax recoverable 723 723 23,886 723 24,609 13. Creditors: Amounts falling due within one year 2023 2022 Bank loans other laxalion and social security 53.378 4.967 53,378 4,967 Page 25

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Credltors: Amounts falllng due wlthln one year {contlnued) 2023 2022 Obligations under finance lease and hire purchase contracts Accruals and deferred income 2,580 7,800 8.150 66.495 68, 725 14. Credltors: Amounts falllng due after more than one year 2023 2022 Bank loans Other loans 224.200 190,390 240,228 196,665 414,590 436,893 The aggregate amount of liabilities payable or repayable wholty or in part more than five years after the reporting dale is.. 2023 2022 Payable or repayable by instalments 277.578 293,606 277.578 293,606 The loan outstanding is a repayment mortgage of the church building al Heath House, Heath Business Cenlre, off Whitehall Road, Colchesler, Essex C02 8HG. Page 26

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Statement of funds Statement of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expendlture Unrestricted funds General Funds 1 Unallocated amounts 601,600 404,053 1,005,653 1336,791) {336,7911 601.600 404,053 1336.791} 668,862 Restricted funds Restricted Fund 1 193,894 9,734 121,608} 182,020 Total of funds 795.494 413,787 1358.399} 850,882 Page 27

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Statement of funds (contlnuedl Statement of funds - prlor year Balan￿ at 31 December 2022 Balance al l January 2022 Income Expenditur8 Unrestricted funds General Funds 1 571,953 278,006 (248,359) 601,600 B818nce 8t 31 December 2022 58lènce al 1 J8nu8ry 2022 Income Expenditure Restricted funds Restricted Fund 1 181,301 25,927 {13,334J 193,894 Total of funds 753,254 303,933 (261,693) 795,494 16. Summary offunds Summary offunds - current year Balance at 31 Oecember 2023 Balance at 1 January 2023 Income Expenditure General funds Reslricled funds 601,600 193.894 404,053 9,734 1336,791) 121.608} 668,862 182,020 795,494 413,787 1358,399} 850,882 Page 28

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Summary of funds Icontlnuedl Summary offunds - prlor year Balan￿ at 31 December 2022 Balance al l January 2022 Income Expenditur8 General funds Reslricled funds 571,953 181,301 278.006 25,927 (248,359) (13,334J 601,600 193,894 753,254 303,933 (267,693) 795,494 17. Analysis of net assets botween funds Analysis of net assets between funds - current year Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Difference 182,020 1,001,707 148,241 166,4951 1414,5901 1,183,727 148,241 166,4951 {414,5901 Total 182,020 668,862 850,882 Page 29

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Analysls of net assets between funds {contlnuedl Analysls of net assets between funds - prlor year Restricted Restricted funds - class Unrestricted funds funds 2022 2022 Total funds 2022 2022 Tangible fixed assets Current assets 181,301 12,593 1,003,115 104, 103 (68, 725) 1, 184,416 116,696 (68, 725) (436,893) Creditors due within one year Creditors due in more than one year Other unallocated (436,893) 436,893 1436,8931 Total 193,894 607,600 795,494 18. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Nel income for the year las per Statement of Financial Acliviliesl 55,388 42,240 Adjustments for: Depreciation charges Amortisation charges Dividends, interests and rents from investments Decreasellincreasel in debtors Decrease in creditors 17.412 27,837 (12,391) 23.886 12,230} 15,509 27,837 (71,718) f23,861) (1,572) Net Cash provlded by operatlng actlvltles 109,902 48,435 19. Analysis of cash and cash equivalents 2023 2022 Cash in hand 147,517 92,087 Total cash and cash equivalents 147,517 92,087 Page 30

THE REDEEMED CHRISTIAN CHURCH OF GOD- STILLWATERS COLCHESTER IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 20. Analysls of changes In net debt At1 January 2023 Cash flows At31 December 2023 Cash al bank and in hand Debt due within 1 year Debt due after 1 year Finance leases 92,087 153,3781 {436,8931 12.5801 55.430 147,517 153,3781 {414,5901 22,303 2.580 {400,7641 80,313 {320,4511 21. Related party transartions Page 31