REDEEMED CHRISTIAN CHURCH OF GOD: TRINITY PRAISE CENTRE IPSWICH Charity no 1141476
Annual Accounts
1st Jan 2022 - 31st Dec 2022
Prepared by DTT Consultancy Ltd
REDEEMED CHRISTIAN CHURCH OF GOD: TRINITY PRAISE CENTRE IPSWICH
CONTENTS
| Reference and administrative details of the charity | 3 |
|---|---|
| Directors' report | 4 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 15 |
RCCG Trinty Praise Centre Ipswich
| REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTESS AND ADVISERS | REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTESS AND ADVISERS |
|---|---|
| FOR THE YEAR ENDED 31 DECEMBER 2022 | |
| General Overseer | Pastor E A Adeboye |
| Trustees | Mr Emily Stephens |
| Pst Bose Daniel Akinbisehin | |
| Pst Olajide Ilemobola | |
| Mr Solomon Onkonkwo | |
| Mr Thabo Malefo | |
| Minister In Charge | Pastor Favour Malefo |
| Charity registration no | 1141476 |
| Principal office | THE CHAPEL |
| CHARLES STREET | |
| SUFFOLK | |
| IPSWICH | |
| Independent Examiner | Tunji Ogedengbe |
| 36 Daffodil Close | |
| Hatfield | |
| AL10 9FF | |
| Bankers | Santander |
Page 3
RCCG Trinty Praise Centre Ipswich
TRUSTEES' REPORTS FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of The Redeemed Christian Church of God Trinity Praise Centre Ipswich (the charity) for the ended 31 December 2022. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. CONSTITUTION
The church is constituted under a Trust Deed dated 15th April 2011
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the charity is the responsibility of the Trustees who are appointed and co-opted under the terms of the Trust deed.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
The induction process for any newly appointed member of the Trustees comprises an initial meeting with the Chair and 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 parish pastor and volunteers.
e. RELATED PARTY RELATIONSHIPS
Trinity Praise centre Ipswich parish 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 charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
g. GRANT MAKING POLICY
The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes.
The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.
Page 4
RCCG Trinty Praise Centre Ipswich
TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTIVES AND ACTIVITIES
a. POLICIES AND OBJECTIVES
The objectives of the church are:
-
Preaching the Gospel with the aim of transforming the lives of the public/believers
-
Helping the public to live peacefully with one another,redirecting their focus to personal and community development and abstaining from lives of crime,violence and other sins as stated in the Bible
Each year our trustees review our objectives and activities to ensure they continue to reflect our aims.
In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.
b. STRATEGIES FOR ACHIEVING OBJECTIVES
The church has adopted the following strategies for achieving the above objectives:
-
organisation of seminars and events to address issues of relevance to the relief of poverty and provision of care and support for the needy as appropriate;
-
planting of churches; and
-
support for other charities and events with similar objectives.
-
social action initiatives in the community
c. ACTIVITIES FOR ACHIEVING OBJECTIVES
The main activities of the church are as follows:
-
Sunday service
-
Weekly night Bible Studies and house fellowships at various centres
d. VOLUNTEER MANAGEMENT
The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration.
e. INVESTMENT POLICY AND PERFORMANCE
The trustees have decided that at present, funds should be retained in bank. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.
f. VULNERABLE BENEFICIARIES
The church works with vulnerable groups including children and make sure users are safe and protected from harm. Volunteers, employees and trustees have the right checks and assessments before they can work with a church. Safeguards are in place to protect vulnerable people from abuse, and prevent abuse happening in the first place.
g. CONFLICT OF INTERESTS
No trustee is in a position where their duty as a trustee will conflict with any personal interest they may have.
h. COMPLAINTS HANDLING
We are committed to ensuring that people have all necessary support required to make a complaint. Complaints are accepted verbally or in writing, and can be formal or informal.
Anyone wishing to make a complaint will be provided with a Complaints Handling Statement, which summarises how a complaint about our service can be made.
Page 5
RCCG Trinty Praise Centre Ipswich
TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022
ACHIEVEMENTS AND PERFORMANCE
a. REVIEW OF ACTIVITIES
The church undertook the following activities:
Christmas Town Outreach
Relationship seminar
Wind of Change prayer concert
National Fast and Prayer
Macmillian Cancer support Coffee morning
Back to School Prayer & Anointing service for students
Brothers Football Fellowship
Church Anniversary
Easter Outreach
Ipswich Community Radio ministry
Page 6
RCCG Trinty Praise Centre Ipswich
TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022
FINANCIAL REVIEW
a. RESERVES POLICY
Members of the church have been generous this year. The statement of the financial activities shows net unused resources for the year of £32,299 and our net asset stand at £131,452.
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the church should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding.
b. PRINCIPAL FUNDING
This is provided mainly through voluntary tithes and offerings by the church members.
PLANS FOR THE FUTURE
a. FUTURE DEVELOPMENTS
We are hoping to acquire a building of our own and we are also praying that God will help us establish another parish with its own place of worship.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees 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 Accounting Practice).
The law applicable to charities in England & Wales 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 incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently; Easter Outreach
-
make judgments 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;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
This report was approved by the Trustees on 13th June 2023 and signed on their behalf, by:
Mr Emily Stephens
Page 7
| RCCG | TRINITY PRAISE CENTRE IPSWICH | TRINITY PRAISE CENTRE IPSWICH | TRINITY PRAISE CENTRE IPSWICH | CharityNo | 1141476 | |
|---|---|---|---|---|---|---|
| Annualaccountsforthe period | ||||||
| Period start date | 01/01/2022 | To | Period end date |
31/12/2022 | ||
| Section A | Statement of financial activities | |||||
| Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 Net movement in funds Net incoming/(outgoing) resources before transfers Prior year adjustment Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) Net incoming/(outgoing) resources before other recognised gains/(losses) Gross transfers between funds Total resources expended Total incoming resources |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05 |
|||||
| - | - | - | - | - | ||
| 71,599 | - | - | 71,599 | 60,065 | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 71,599 | - | - | 71,599 | 60,065 | ||
| - | - | - | - | |||
| 27,817 | - | - | 27,817 | 24,320 | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 11,483 | - | - | 11,483 | 8,453 | ||
| - | - | - | - | |||
| - | - | - | - | - | ||
| 39,301 | - | - | 39,301 | 32,773 | ||
| 32,299 | - | - | 32,299 | 27,292 | ||
| - | - | - | - | - | ||
| 32,299 | - | - | 32,299 | 27,292 | ||
| - | - | - | - | - | ||
| - | - | - | - | |||
| 32,299 | - | - | 32,299 | 27,292 |
Page 8
| S20 S21 Total funds carried forward |
99,154 | - | - | 99,154 | 71,862 |
|---|---|---|---|---|---|
| 131,452 | - | - | 131,452 | 99,154 |
Page 8
Section B Balance sheet
| Fixed assets Tangible assets (Note 9) Investments (Note 10) Total fixed assets Current assets Stock and work in progress Debtors (Note 11) (Short term) investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year (Note 12) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 13) Provisions for liabilities and charges Net assets Funds of the Charity Unrestricted funds b/f Restricted income funds (Note 14) Endowment funds(Note 15) Easter Outreach Total funds Signed by one or two trustees on behalf of all the trustees |
Note B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 |
Unrestricted funds £ F01 |
Restricted income funds £ F02 |
Endowment funds £ F03 |
Total this year Total last year £ £ F04 F05 |
Total this year Total last year £ £ F04 F05 |
|---|---|---|---|---|---|---|
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 3,600 | - | - | 3,600 | - | ||
| - | - | - | - | |||
| 128,102 | - | - | 128,102 | 99,404 | ||
| 131,702 | - | - | 131,702 | 99,404 | ||
| 250 | - | - | 250 | 250 | ||
| 131,452 | - | - | 131,452 | 99,154 | ||
| 131,452 | - | - | 131,452 | 99,154 | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 131,452 | - | - | 131,452 | 99,154 | ||
| 131,452 | 131,452 | 99,154 | ||||
| - | - | |||||
| - | - | - | ||||
| - | - | - | ||||
| 131,452 | - | - | 131,452 | 99,154 | ||
| Signature | Print Name | Date of approval |
||||
| Mr EmilyStephens | 13/06/2023 | |||||
Page 9
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:
- Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
• and with* Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);
- and with the Charities Act 1993.
[** except for the following].
Give details in this box if a different standard has been followed.
-
-Tick as appropriate:
-
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial Reporting Standards for Smaller Enterprises (FRSSE)”.
** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.
1.2 Change in basis of accounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year
1.3 Changes to previous accounts
The comparative figures in the report is for non charitable status and for information only.
1.4 Foreign currencies
Page 10
Section C Notes to the accounts (cont)
Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
INCOMING RESOURCES
| Recognition of incoming | These are included in the Statement of Financial Activities (SoFA) when: |
|---|---|
| resources | the charity becomes entitled to the resources; |
| the trustees are virtually certain they will receive the resources; and | |
| the monetary value can be measured with sufficient reliability. | |
| Incoming resources with related | Where incoming resources have related expenditure (as with fundraising or contract income) |
| expenditure | the incoming resources and related expenditure are reported gross in the SoFA. |
| Grants and donations | Grants and donations are only included in the SoFA when the charity has unconditional |
| entitlement to the resources. | |
| Tax reclaims on donations and | Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to |
| gifts | which they relate. |
| Contractual income and | This is only included in the SoFA once the related goods or services have been delivered. |
| performance related grants | |
| Gifts in kind | Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. |
| Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or | |
| distributed by the charity. | |
| Gifts in kind for use by the charity are included in the SoFA as incoming resources when | |
| receivable. | |
| Donated services and facilities | These are only included in incoming resources (with an equivalent amount in resources |
| expended) where the benefit to the charity is reasonably quantifiable, measurable and | |
| material_._The value placed on these resources is the estimated value to the charity of the | |
| service or facility received. | |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and losses | This includes any gain or loss on the sale of investments and any gain or loss resulting from |
| revaluing investments to market value at the end of the year. | |
| EXPENDITURE AND LIABILITIES | |
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation committing the |
| charity to pay out resources. | |
| Governance costs | Include costs of the preparation and examination of statutory accounts, the costs of trustee |
| meetings and cost of any legal advice to trustees on governance or constitutional matters. | |
| Grants with performance | Where the charity gives a grant with conditions for its payment being a specific level of service |
| conditions | or output to be provided, such grants are only recognised in the SoFA once the recipient of the |
| grant has provided the specified service or output. | |
| Grants payable without | These are only recognised in the accounts when a commitment has been made and there are |
| performance conditions | no conditions to be met relating to the grant which remain in the control of the charity. |
| Support Costs | Support costs include central functions and have been allocated to activity cost categories on a |
| basis consistent with the use of resources, eg allocating property costs by floor areas, or per | |
| capita, staff costs by the time spent and other costs by their usage. | |
| ASSETS | |
| Tangible fixed assets for use by | These are capitalised if they can be used for more than one year, and cost at least £500. They |
| charity | are valued at cost or a reasonable value on receipt. |
| Investments | Investments quoted on a recognised stock exchange are valued at market value at the year |
| end. Other investment assets are included at trustees' best estimate of market value. | |
| Stocks and work in progress | These are valued at the lower of cost or market value. |
Page 11
Section C Notes to the accounts (cont)
Note 3 Analysis of incoming resources
Incoming resources may be further analysed if this would help the reader of the accounts.
| Activities for generating funds Investment income Incoming resources from charitable activities Voluntary income |
Analysis | This year Last year £ £ |
This year Last year £ £ |
|---|---|---|---|
| Tithes,Offerings and Thanksgiving | 71,599 | 60,065 | |
| Gift Aid | - | - | |
| Other | |||
| Total | 71,599 | 60,065 | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - |
Page 12
Section C Notes to the accounts (cont)
Note 4 Analysis of resources expended
| This year Last year £ £ - 82 17,400 16,100 - - 20 - - 84 4,800 5,196 637 730 2,900 1,908 85 60 1,207 - 20 - 140 768 - 27,817 24,320 - - - - - - - - - - - - - - - - - - - - RCCG(COF) 600 600 WEM 6,696 6,210 Region 250 - Outreach 1,327 839 Welfare 1,090 200 Donation - 460 Gifts - 145 Area 1,520 - 11,483 8,453 - - Youth & Children Ministryexpenses Costs of generating voluntary income Rent and rates Guest Minister Costs of generating voluntary income Resources expended may be further analysed if this would help the reader of the accounts. Publicity& Advertisements Analysis Pastor's support Total Covid 19 Telephone Utilities Total Professional and Legal Fees Travel expenses Total Total Total Printingand Stationary Hospitality Office/Admin Expenses Insurance Governance costs Charitable activities Investment management costs Fundraising trading costs |
This year Last year £ £ - 82 17,400 16,100 - - 20 - - 84 4,800 5,196 637 730 2,900 1,908 85 60 1,207 - 20 - 140 768 - 27,817 24,320 - - - - - - - - - - - - - - - - - - - - RCCG(COF) 600 600 WEM 6,696 6,210 Region 250 - Outreach 1,327 839 Welfare 1,090 200 Donation - 460 Gifts - 145 Area 1,520 - 11,483 8,453 - - Youth & Children Ministryexpenses Costs of generating voluntary income Rent and rates Guest Minister Costs of generating voluntary income Resources expended may be further analysed if this would help the reader of the accounts. Publicity& Advertisements Analysis Pastor's support Total Covid 19 Telephone Utilities Total Professional and Legal Fees Travel expenses Total Total Total Printingand Stationary Hospitality Office/Admin Expenses Insurance Governance costs Charitable activities Investment management costs Fundraising trading costs |
This year Last year £ £ - 82 17,400 16,100 - - 20 - - 84 4,800 5,196 637 730 2,900 1,908 85 60 1,207 - 20 - 140 768 - 27,817 24,320 - - - - - - - - - - - - - - - - - - - - RCCG(COF) 600 600 WEM 6,696 6,210 Region 250 - Outreach 1,327 839 Welfare 1,090 200 Donation - 460 Gifts - 145 Area 1,520 - 11,483 8,453 - - Youth & Children Ministryexpenses Costs of generating voluntary income Rent and rates Guest Minister Costs of generating voluntary income Resources expended may be further analysed if this would help the reader of the accounts. Publicity& Advertisements Analysis Pastor's support Total Covid 19 Telephone Utilities Total Professional and Legal Fees Travel expenses Total Total Total Printingand Stationary Hospitality Office/Admin Expenses Insurance Governance costs Charitable activities Investment management costs Fundraising trading costs |
This year Last year £ £ - 82 17,400 16,100 - - 20 - - 84 4,800 5,196 637 730 2,900 1,908 85 60 1,207 - 20 - 140 768 - 27,817 24,320 - - - - - - - - - - - - - - - - - - - - RCCG(COF) 600 600 WEM 6,696 6,210 Region 250 - Outreach 1,327 839 Welfare 1,090 200 Donation - 460 Gifts - 145 Area 1,520 - 11,483 8,453 - - Youth & Children Ministryexpenses Costs of generating voluntary income Rent and rates Guest Minister Costs of generating voluntary income Resources expended may be further analysed if this would help the reader of the accounts. Publicity& Advertisements Analysis Pastor's support Total Covid 19 Telephone Utilities Total Professional and Legal Fees Travel expenses Total Total Total Printingand Stationary Hospitality Office/Admin Expenses Insurance Governance costs Charitable activities Investment management costs Fundraising trading costs |
|---|---|---|---|
| Publicity& Advertisements | - | 82 | |
| Guest Minister | |||
| Rent and rates | 17,400 | 16,100 | |
| Youth & Children Ministryexpenses | - | - | |
| Printingand Stationary | 20 | - |
|
| Hospitality | - | 84 | |
| Pastor's support | 4,800 | 5,196 | |
| Telephone | 637 | 730 | |
| Professional and Legal Fees | 2,900 | 1,908 | |
| Travel expenses | 85 | 60 | |
| Insurance | 1,207 | - |
|
| Covid 19 | 20 | ||
| Office/Admin Expenses | - | 140 | |
| Utilities | 768 | - |
|
| Total | 27,817 | 24,320 | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| RCCG(COF) | 600 | 600 | |
| WEM | 6,696 | 6,210 | |
| Region | 250 | - |
|
| Outreach | 1,327 | 839 | |
| Welfare | 1,090 | 200 | |
| Donation | - | 460 | |
| Gifts | - | 145 | |
| Area | 1,520 | - |
|
| Total | 11,483 | 8,453 | |
| Total | - | - |
Page 13
Section C Notes to the accounts (cont)
Note 5 Support Costs
Please complete this note if the charity has analysed its expenses using activity categories and has support costs.
| support costs. | ||||
|---|---|---|---|---|
| Support cost type | Fundraising activity £ |
Charitable Activity £ |
Governance Activity £ |
Total Cost £ |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| Total | - | - | - | - |
Note 6 Details of certain items of expenditure
6.1 Trustee expenses
Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).
Number of trustees who were paid expenses Nature of the expenses Total amount paid
| This year | Last year |
|---|---|
| £ | £ |
6.2 Fees for examination or audit of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).
| appropriate box(es). | ||
|---|---|---|
| Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts |
This year £ |
Last year £ |
| 250 | 250 | |
Page 14