REGISTERED COMPANY NUMBER . 07614392 Registered Charity Number 1141910 Redeemed Christain Church Of God, Good News Haven Unaudited Financial Statements For The Year Ended 31st December, 2022 Redeemed Christian Church of God , Good News Haven Contents of The Financial Statements For The Year Ended 31 st December, 2022 Page Report of The Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities Redeemed Christian Church of God , Good News Haven Report Of The Trustees For The Year Ended 31 st December, 2022 Principal Registered Address. 61 Kellner Road Thamesmead London SE28 OAX Trustees R A Bello Chairman Samuel Obigbesan Joy Aikhena Abimbola Taiwo Bankers Independent Examiner Adonai Associates Accou ntants 50 King Alfred Avenue Catford London SE6 3HP Redeemed Christian Church of God , Good News Haven Report of the Trustees For The Year Ended 31 st December, 2022 rRUCTURE, GOVERNANCE AND MANAGEMENT Governing d¢xument The charity is controlled by its governing document. a deed of trust. and constitutes a company. limited by guarantee. as defined by the Companies Act 2006 on 26th April 2011 with a registered charity number 1141910 Organlsatlonal ttrutture The church is organised such that the day-to-day running of the church has been delegated to the Parish Pastor and the Charity Manager. The Trustees are consulted on all material issues and determine the strategic direction of the charity- Trustees meet three times in a year and as and when required to review the operations of the charity. Recrultment and appolntment of new trustees The church is organised such that the day-to-day running of the church has been delegated to the Parish Pastor and the Charity Manager. The Trustees are consulted on all material issues and determine the Pollcles adopted for the Inductlon and tralnlng of truttees The induction process for any newly appointed member of the trustees comprises an initial meeting with the chairman and other trustees. followed by a series of short meetings with the minister in charge on the powers and responsibilities of the trustees. New Trustees are given anunderstanding of the charity's objectives and the requirements of the Charity Commission. They are also encouraged to attend appropriate external training events where these will facilitate the understanding of their role. Charity Commission bulletins/updates is also forwarded to Trustees as and when issued. Connected Charltles Good news Haven is a member of the Redeemed Christian Church of God IRCCG). which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an "Agreement for Common Purposes.- The church supports Christian organisations such as World Evangelism Mission and other missionary organisation such as Festival of Life. Good Women Fellowship etc. The church also provides support to members of the congregation and community who are in need (at the discretion of the trustees)trusteesl Risk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate control. The trustees have assessed the major risks to which the charity 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 and to provide reasonable assurance against fraud and error. OBJEcfivES AND ACTIVITIES The advan￿rnent of the Christian faith worldwide and affording the knowledge of God to our immediate community in particular through evangelistic work and encouraging people to worship with us and seek eternal life salvation through our Lord Jesus Christ The relief of poverty and offering practical help. advice and assistance to the homeless. unemployed and the vulnerable in the society Providing necessary support to new converts to grow and develop in their new found faith through effective pastoral care 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 advan￿ment of religion for the public benefit. Strategles for achleving objettlves The charity has adopted the following strategies for achieving the above objectives.. Organising seminars and events to address issues of relevan￿ to the relief of poverty and provision of care and support for the needy as appropriate: Planting of churches: and Support and working with other charities with similar objectives to achieve greater results in enabling and empowering people through the word of God and in offering practical help and assistance to the needv Principal funding The charity's principal source of funding remains the same. This is provided mainly through voluntary tithes and offerings by the church members. Contributions and Pledges are also taken for specific projects. Actlvltles for athlevlng oblertlves The church in pursuant of her objectives organised programme of events which were open to the host community for Christian worship services in addition to teaching sessions. The focus on the future generation also saw the church operating a fully equipped section for Children under 12 years of age as well as a separate section for teenagers. there is also the youth fellowship. The church also undertook projects to reach out to the community as a whole among which are the annual Summer Sun splash. Marriage Conferen￿. Multicultural day. Praise Sessions and the 9 hours non-stop praise. Volunteers The church is grateful for the efforts of its volunteers who are involved in service provision, office work and administration. It is estimated that over 5,045 volunteer hours were provided during the 2022 period. If this is valued at £9.50 an hour the volunteer efforts would amount to over £47,928. Significant attivities The church holds regular worship services, which are open to all members of the community. At these programmes, members are taught the principles of Christian care to all members of the community. In addition to this, the church also operates classes for the children, Teenagers and youth where they are taught the tenets of the Christian faith. The church in integrating with the community also had projects aimed at children, the elderly as well as the general community. The church in the course of the year could not actively engaged in both congregational and community wide activities that are channelled towards promoting love and empowering people to live a sustainable Christian life due to the Covid-19 pandemic. However, activities below were held via zoom platform as follow,. Weekly worship, prayer meetings and bible studies Isundays, Wednesdays and Fridays) Pastoral care provision for the congregation, local community and new converts to help them live a sustainable life in their new-found faith OTHER CHURCH AcfiviTIES Home Fellowship every 2nd Sunday of the month Evangelism every Satu rday 9 Hours non-stop praise I I th June 2022 gam-6pm. Family Beach outing 27 August 2022. Distribution of food to the homele55 16th December 2022 Children Christmas party 18th December 2022 Flnandal Revlew The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A(￿pted Accounting Practice). The law applicable to charities in England and Wales. the Charities Act 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 resOur￿s. including the income and expenditure. of the charity for that period. In preparing those financial statements. the trustees are required toview of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure. of the charity for that period. In preparing those financial statements. the trustees are required to Select suitable accounting policies and then apply them consistently: Observe the methods and principles in the Charity SORP: Make judgements and estimates that are reasonable and prudent: Prepare the rinanciai statements on tne going concern basis unless it is inappropriate to presume that the charity will continue in business. 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 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions ON BEHALF OF THE BOARD.. Signature Trustee Redeemed Chrfstlan Church of God . Go¢)d News Haven For The Year Ended 31rt December. 2022 Independent Examlnerfs Report To the Trustees of Redeemed Chrfstlan Church of God . Go¢)d News Haven I report on the accounts for the year ended 31st December. 2022 set out on pages four to Seven. Respectlve responslbilltles of trustees and examlner 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 144(21 of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. The charity's gross income does exceed £250.OIX) and l am qualified to undertake the examination by being a qualified member of ACCA and IFA It is my responsibility to: examine the accounts under Section 145 of the 2011 Act to follow the Pro￿dureS laid down in the General Directions given by the Charity Commission (under Section145{51{bl of the 2011 Act): and to state whether particular matters have come to my attention. asls of the Independent examlner's report My examination was carried out in accordan￿ with the General Directions given by the Charity Commission. 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 eviden￿ that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examlner's rtatement In connection with my examination. no matter has come to my attention.. l) which gives me reasonable cause to believe that. in any material respect. the requirements to keep accounting records in accordance with Section 130 of the 2011 Act: and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met: or 12) to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Ablodun A Adeboyelo (FCCKAFA. ACK FAIA) Associatlon of Chartered Certlfled Accountants 50 King Alfred Avenue Catford, London SE6 3HP Date................................................ Redeemed Christian Church of God , Good News Haven ## Statement of Financial Activities For The Year Ended 31st December, 2022 |Unrestricted
Notes
£
Income Resources
Incoming Resources From Generated Funds
Voluntary Income
1
314,869
Total Income Resources
314,869
Resources Expended
Charitable Activities
Physical & Spiritual Need
269,872
Governance Costs
2
15,809
Total Resources Expended
285,681
NET INCOMING RESOURCES
29,188
RECONCILATION OF FUNDS
Total Funds Balances b/fwd
152,795
Total Funds Balances c/fwd
181,983||2022
2021
Total
Total
Fund
Fund
£
£
314,869
293,598
314,869
293,598
269,872
287,765
15,809
13,537
285,681
301,302
29,188
(7,703)
152,795
160,498
181,983
152,795| |---|---|---| |||| The Notes Form Part of These Financial Statements 6 ## Redeemed Christian Church of God , Good News Haven ## Balance Sheet as at 31 December 2022 |Notes
FIXED ASSETS
Leasehold Improvements
Tangible assets
4
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
CREDITORS
Amounts Falling Due within one Year
6
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts Falling Due after one Year
7
NET ASSETS
Unrestricted Funds
8
Restricted funds
Unrestricted Funds
TOTAL FUNDS|20,792
21,586
14,500
187,205
1,129
200,576
242,954
(46,855)
196,100|2022
2021
Total
Total
£
£
20,792
20,792
21,586
26,983
14,500
18,000
187,205
166,603
1,129
1,434
200,576
183,169
242,954
230,944
(46,855)
(70,446)
196,099
160,497
203,806
168,204
(7,707)
(7,707)
196,099
160,497| |---|---|---| The financial statements were approved by the Board of Trustees on.................................... and were signed on its behalf by: Approved by Board of Trustees R A Bello - Chairman The Notes Form Part of These Financial Statements 7 Redeemed Christian Church of God , Good News Haven Notes to the Financial Statementss for the year ended 31 December 2022 ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 20151, the Charities Act 2011 and the requirement5 of the Statement of Recommended Practice ISORP 20151, Accounting and Reporting by Charities (issued July 2014) Incoming resources All incoming resou rces are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particularheadings they have been allocated to activities on a basis consistent with the use of resources. Grants offered Subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. I Voluntary Income 2022 2021 Tithes & Offering Offering Thanksgiving Welfare Fund Building Fund Other Income Gift Aid Interest Receivable 207,003 31,426 8,027 195,878 34,402 8,420 51,044 13,761 3,347 261 314,869 120 11,810 107 250,737 2022 2021 Redeemed Christian Church of God , Good News Haven Notes to the Financial Statementss for the year ended 31 December 2022 Other Grants 261 107 2 Governance Costs Accountancy Legal fees 2022 650 2021 650 13,283 13,537 3 Wages and salaries Social secu rity Costs 105,975 111,736 11,764 123,500 117,140 4 Tangible fixed assets Hardware Equipment Choir Music Equipment Motor vehi¢le$ Total Cost At l January 2022 At 31 December 2022 51,478 51,478 89,568 89,568 43,141 43,141 184,187 184,187 Depreciation At l January 2022 Charge for the year At 31 December 2022 50,363 223 50,586 63,700 5,174 68,874 43,141 157,204 5,397 162,601 43,141 Net book value At 31 December 2022 892 20,694 25,868 21,586 26,983 At 31 December 2021 1,115 5 Debtors - Amounts Falling Due within one year 2022 2021 Other debtors 14,500 14,500 18,000 18,000 Redeemed Christian Church of God , Good News Haven Notes to the Financial Statementss for the year ended 31 December 2022 6 Creditors- amounts falling due within one year 2022 2021 Trade creditors Other Creditors Creditors Pension 650 561 568 784 1,129 1,434 7 Creditors- amounts falling due after one year 2022 2021 Creditors Creditors 8,888 37,967 46,855 22,320 48,126 70,446 BBL Net Movement In Funds 8 Movement in Funds AtOI 01 22 At31 1222 Unrestricted funds General fund Building Fund TOTAL FUNDS 17,707) 168,204 160,497 17,707) 203,806 196,099 29,188 29,188 Net movement in funds, included in the above are as follows.. Incoming Resources Resources Expended Movement in Funds Unrestricted funds General fund Total Fund 314,869 314869 285,681 285 681 29,188 10 Redeemed Chrlttlan ChuKh of God . Good News Haven Detalled Statement Of Flnanclal Actlvltles For The Year Ended 31st De￿rnber. 2022 2022 Total Fund 2021 Total Fund Unrertrlrted INCOMING RESOURCES Tithes & Offering Offering Thanksgiving Building fund Other Income Gift Aid Grant 207.002.73 31.426.17 8.027.24 51.044.04 13.760.83 3.347.39 207.002.73 31.426.17 8.027.24 51.044.04 13.760.83 3.347.39 195.878.33 34.401.71 8.419.65 120.00 11.809.87 42.861.51 Interest Receivable Total Incomlng Resources 261.00 261.00 106.63 314.869.40 314.869.40 293,597.70 RESOURCES EXPENDED Charitable Attivitles Pastoral allowances Members, Training and Welfare Books & Printing Honorarium & volunteer Bank Charges Ministry Expenses - Mission Advertising WEM & Central funding Travelling and subsistence Printing. postage & stationery Multimedia Expenses Church expenses Evangelicalloutreach materials Donation & Gift Telephone and fax i.100.00 1.663.00 16.040.00 1.438.00 i.100.00 1.663.00 16.040.00 1.438.00 2.649.00 1.675.00 9.382.00 1.278.00 5.433.00 847.00 847.00 30.948.00 5.902.00 1.974.00 5.133.00 12.908.00 30.948.00 5.902.00 1.974.00 5.133.00 12.908.00 35.750.00 438.00 753.00 488.00 9.573.00 i.000.00 i.000.00 2.980.00 i.000.00 4.589.00 75.988.00 2.380.00 81.333.00 2.380.00 81.333.00 Governance Costs Accountancy fees Professional charges Consultancy fees 650.00 650.00 650.00 12.633.00 2.526.00 15.809.00 12.633.00 2.526.00 15,809.00 12.887.00 13,537.00 Support Costs Management Rent & rates Light & heat Insurance 46.197.00 2.555.00 411.00 46.197.00 2.555.00 411.00 61.932.00 3.446.00 6.372.00 203.00 Software & IT 130.00 130.00 Repairs & maintenan Subscription Security - Service Charges Building Expenses Cleaning Motor expenses Wages & salaries Social Security Welfare Employers Pension Depreciation charge 1.268.00 40.00 1.268.00 40.00 4.936.00 709.00 4.221.00 1.800.00 4.221.00 1.800.00 740.00 614.00 1.201.00 111.736.00 11.764.00 105.975.00 11.165.00 6.965.00 2.415.00 5.397.00 188.539.00 105.975.00 11.165.00 6.965.00 2.415.00 5.397.00 188.539.00 2.398.00 5.726.00 211.777.00 TOTAL RESOURCES EXPENDED 285.681.00 285,681.00 301,302.00 NEf INCOME 29.188.40 29.188.40 7.704.30 12