REDEEMED CHRISTIAN CHURCH OF GOD
COVENANT RESTORATION ASSEMBLY COVENTRY
REDEEMED CHRISTIAN CHURCH OF GOD COVENANT RESTORATION ASSEMBLY COVENTRY
TRUSTEE’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023
1
REDEEMED CHRISTIAN CHURCH OF GOD
COVENANT RESTORATION ASSEMBLY COVENTRY
| Page | |
|---|---|
| Corporate Information | 3 |
| Board of Trustee’s Report | 4 |
| Independent Examiner’s Report | 9 |
| Statement of Financial Activities | 10 |
| Statement of Financial Position | 11 |
| Cash Flow Statement | 12 |
| Accounting Policies | 13 |
| Notes | 14 |
2
Corporate Information
Charity Registered Number: 1141943 Company Limited by Guarantee Number: 07592170
Board of Trustees
Gabriel Orakpo
Olufunsho Ojuola
Ezekiel Obileye
Debo Adesina
Omotayo Feyisetan
Registered Office
Upper Spon Street
Coventry
CV1 3BL
Bankers:
Lloyds Bank Plc, Coventry, CV1 5RA
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Board of Trustee’s Report
1.0 Introduction
The Board of Trustees present their report and accounts for the year ended 31st December 2023.
1.1 Public Benefit Statement
The Trustees confirm that they have complied with the duty in section 4 of the Charites Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charites and Public Benefit".
1.2 Structure, Governance and Management
1.2.1 Governing Document
The charity is constituted as a “Trust” and Governed by Memorandum of Articles of Association dated 19 May 2010.
1.2.2 Trustee Appointments
Trustees are appointed under the terms of the trust deed.
1.2.3 Organisational Structure
The Redeemed Christian Church of God, Covenant Restoration Assembly, Coventry is a charity registered in 2010. It is governed by a Memorandum of Articles of Association and is controlled by a board of trustees whose members are appointed as set out in the Memorandum of Association and Constitution of the charity. Membership of the Board of Trustees consists of 5 individuals appointed by the charity who are of high spiritual and moral standing.
1.2.2 Risk Management
The trustee board performs its duty of safeguarding the charity against major risk. The board regularly reviews the charity’s governance structures, policies, procedures and practices. It recommends strategic and operational options and implements adequate prudent controls and preventative action to safeguard the assets of the charity, as well as its reputation.
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Board of Trustee’s Report
2.0 Objectives and Global Outreach
2.1 Objectives and Activities
-
To advance the Christian Faith in Coventry and in such other parts of the United Kingdom or the World as the Trustees may from time to time think fit.
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To relieve people who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in Coventry and in such other parts of the United Kingdom or the world as the Trustees may from to time think fit.
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To advance education in accordance with Christian principles in Coventry and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.
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To promote and fulfil such other charitable purposes beneficial to the community in Coventry and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
2.2 Grant Making Policies
Under the ‘’Agreement for common purpose’’, Covenant Restoration Assembly (CRA) Coventry has agreed to make regular contribution to the World Evangelism Mission (WEM) through RCCG Central Office UK to support church planting through the RCCG Birmingham Zonal Office, support missionary organisation, such as Festival of Life, Good Women Fellowship, Annual Convention held at RCCG National Headquarter.
2.3 Contributions Made by Volunteers
The charity enjoys the services of various volunteers, who contribute enormously in various areas of service provision, development and implementation of the Church’s vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations.
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Board of Trustee’s Report
2.4 Achievement and Performance
The charity’s main activities are tailored towards developing both the physical and spiritual needs of the local community.
During the year, Covenant Restoration Assembly engaged in the following key activities:
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In the month of January, the mission declared a 50-day fasting and prayers programme from 11th January to 2[nd] of March 2023. Members met virtually on Mondays, Wednesdays and Fridays for an hour and a half between 6-7pm, to pray and break their fast with light refreshments provided by the welfare team of the church. Testimonies abounded after the conclusion of the programme.
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To crown the fasting, the church organised a 3-day annual convention which held from the 24[th] – 26[th] of February 2023. The conference was tagged ‘The Kingdom, Power & Glory’ and Rev. Victor Amosun was the guest minister. There was an impartation and prayer service for all firstborns. The second day of the conference was a 6hours prayer chain where prayers and God moved mightily is these programmes.
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The women arm of the church had their Mother’s Day celebration on the 19[th] of March 2023. The children’s church also had their weekend from the 26[th] to the 28[th] of May 2023. The Pillars that is, the men arm of the church had Father’s Day celebration and barbecue on the 18[th] of June 2023.
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Immigration seminar was held on the 21[st] of May 2023 in the church auditorium. The programme was facilitated by BHB Law firm and attendees were enlightened about various immigration issues. Members also had the opportunity to ask questions, and some met with the facilitator to get advice on their immigration issues.
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The Annual 21 days Fasting, and Prayer programme was held from the 11th to the 31st of July 2023. Members met online on Mondays, Wednesdays, and Fridays by 6pm. The conference was tagged ‘The Glory’. We had different guest ministers who blessed our spirit with the word of God, namely Pastor (Mrs) Caroline Adebayo, Pastor Rasaq Ibrahim Keith and Pastor Olusegun Stephen.
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In the Year 2023, the lord blesses the church with ten babies. The family of Mr and Mrs Adedipe was blessed with a baby boy. The family of Dr and Mrs Anaedu was blessed with a baby boy and the Agbetanmile’s family was blessed a baby. Deacon and Mrs Ajala were also blessed with a baby girl. The family of bro Segun and the family of bro Oladele were blessed with baby boys. God blessed us with Baby Gegeleso, baby David and finally the family of Bro Chidi and sister Stella Ukagha were blessed with a baby girl. We are grateful to God for these wonderful gifts.
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The church organized an IT summer program for teenagers aged 13 to 19 during the month of August, lasting one week. The participants learned business analysis, how to use Jira,
6
Board of Trustee’s Report
and software development. The program received a lot of positive feedback from the teenagers.
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The church also organized a skills acquisition program for teenagers in the month of August, offering them the opportunity to learn makeup, graphic design, hairdressing, nail technician skills, and more. This program also received positive feedback from the participants.
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Night of Worship was help on Sunday, the 29[th] of October 2023. The worship team alongside invited minstrels led us in worship and the presence of the Lord came down and there were testimonies afterwards.
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The women arm of the church held their Breakfast meetings every bi-monthly where they prayed and share the word of God together, they also discuss different topics e.g., Healthy living, how to help children to be internet-safe, praying for our children, Taking care of our mental health etc.
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The men arm of the church had the breakfast meeting where they shared the word of God and bring external facilitator to talk to them about investment and being financially independent.
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The church organized its annual end of year meeting and Christmas party on the 24th of December.
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On the 31st of December 2023, the watch night service was held.
3.0 Financial Reviews
During the period, the total of sum £202,784 was received in voluntary income and £31,078 in other income (mainly estimated Gift Aid receivables and grants) arising in total income of £233,862. Total resources expended was £169,038 thus resulting in operating surplus of £64,825. Cash at the end of the period was £125,561.
3.1 Principal Funding Sources
The charity’s main source of fund this year has been through voluntary donations from members.
4.0 Future Development
The Charity plans to continue with its various activities relevant to its local community. In the coming year, Covenant Restoration Assembly (CRA) Coventry plans to organise more developmental seminar/conference and workshops for its members and local community,
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Board of Trustee’s Report
Trustees’ Responsibilities
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Charity law 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 net income or expenditure of the charity for the year. In preparing these financial statements the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material
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departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going-concern basis unless it is inappropriate to
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presume that the charity will continue in business.
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.
The appended financial statements have been prepared on the accrual’s basis and have been examined by an independent examiner, whose report is also appended.
This report was approved by the Board of Trustees on 30 October 2024 and signed on their behalf by:
On behalf of the charity:
Omotayo Feyisetan
On behalf of the Board of Trustees
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Independent Examiner’s Report
Report to the trustees/members of: The Redeemed Christian Church of God, Covenant Restoration
Assembly, Coventry. On accounts for the year ended: 31st December 2023, set out on pages 10 - 16 Charity No: 1141943
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 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence 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 statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention low:
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(1) which give me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act;
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Date: 30 October 2024
Name: Tobi Labeodan FCCA, for and on behalf of Chedders Ltd
Relevant professional qualification(s) or body (if any): ACCA
Address: Synium House, r/o 94-96 High Street, Henley in Arden, B95 5FY
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Statement of Financial Activities: Period Ending 31st December 2023
| Notes Income: Donations and legacies 1 Other income (Grants) 1 Total Income Total Income Expenditures on: Charitable Activities 2 Other Charitable Activities 2 Other Costs 2 Total Expenditures Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward at 1 January 2023 Total funds carried forward at 31 December 2023 |
2023 2023 2023 Unrestricted Funds Restricted Funds Total Funds £ £ £ 202,784 - 202,784 31,078 - 31,078 233,862 - 233,862 233,862 - 233,862 149,736 - 149,736 18,172 - 18,172 1,130 - 1,130 169,038 - 169,038 64,825 - 64,825 - - 64,825 - 64,825 236,285 - 236,285 301,110 - 301,110 |
2022 2022 2022 |
|---|---|---|
| Unrestricted Funds Restricted Funds Total Funds |
||
| £ £ £ |
||
| 136,291 - 136,291 |
||
| 21,745 - 21,745 |
||
| 158,036 - 158,036 |
||
| 158,036 - 158,036 |
||
| 113,842 - 113,842 |
||
| 10,122 - 10,122 |
||
| 352 - 352 |
||
| 124,316 - 124,316 |
||
| 33,721 - 33,721 |
||
| - | ||
| - | ||
| 33,721 - 33,721 |
||
| 216,845 0 216,845 |
||
| 250,566 0 250,566 |
10
Statement of Financial Position: Period Ending 31st December 2023
| Notes Fixed Asset Tangible assets 3 Total Fixed Asset Current Assets Loans & Advances Accrued Income Cash at bank and in hand Other Debtors Total Current Assets Creditors: amounts falling due within one year Other Creditors Other Current Liabilities Total Creditors: amounts falling due within one year Net current assets (liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year Other Non-Current Liabilities Total Creditors: amounts falling due after more than one year Total net assets (liabilities) The funds of the charity: Restricted Reserve Retained Reserves Surplus/(Deficit) for the year Total charity funds |
2023 £ 205,581 205,581 14,700 32,544 125,561 - 172,806 7,764 (12,537) (4,773) 177,578 383,160 82,050 82,050 301,110 - 236,285 64,825 301,110 |
2022 |
|---|---|---|
| £ | ||
| 160,368 | ||
| 160,368 | ||
| 11,400 | ||
| 37,997 | ||
| 99,135 | ||
| - | ||
| 148,532 | ||
| 7,764 | ||
| (4,430) | ||
| 3,334 | ||
| 145,198 | ||
| 305,566 | ||
| 55,000 | ||
| 55,000 | ||
| 250,566 | ||
| - | ||
| 216,845 | ||
| 33,721 | ||
| 250,566 |
11
Cash Flow Statement: Period Ending 31 December 2023
| Operating Activities Net Income Adjustments to reconcile Net Income to Net Cash provided by operations: Debtors Other Debtors Depreciation Creditors Long Term Borrowings Net cash provided by operating activities Investing Activities Property Furniture & Fittings Machinery & Equipment Vehicles Net cash provided by investing activities Financing Activities Reserves Other Reserves Other Non Current Liability Net cash provided by financing activities Net cash increase for period Cash at beginning of period Cash at end of period |
2023 £ 64,825 2,153 - 4,340 (8,107) 63,211 (1,523) (48,031) (49,554) - - 27,050 27,050 40,707 84,854 125,561 |
2022 |
|---|---|---|
| £ | ||
| 33,721 | ||
| (12,797) | ||
| - | ||
| 6,620 | ||
| (4,858) | ||
| 537 | ||
| 23,223 | ||
| (5,477) | ||
| (5,477) | ||
| - | ||
| - | ||
| (3,887) | ||
| (3,887) | ||
| 13,859 | ||
| 70,995 | ||
| 84,854 |
12
Accounting Policies
Scope and Basis of the Financial Statements
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities published in March 2005.
Income
Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.
Expenses
Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Fixed assets
Fixed assets with an individual purchase of £500 or more are capitalised and stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
| Fixtures and fittings | 25% |
|---|---|
| Equipment | 25% |
| Vehicles | 25% |
| Building | 2% |
13
Notes to the Financial Statements for the year ended 31 Dec 2023
Donations and Legacies
| Income Donations and legacies Restricted Income Total donations & legacies Other income Gift Aid Receipts Other income Total other income Total Income 2 Expenditures Charitable Activities Premises Utilities Travel Motoring & Transportation Insurance Administration Advertising Operations Finance Charges Depreciation Honorarium Total Charitable Activities Other Charitable Activities Outreach Central Office Welfare & Benevolence Charitable Donations Total Other Charitable Activities Other Costs Professional fees and services Other costs Legal fees Accountancy fees Total Other Costs |
2023 £ 202,784 - 202,784 29,225 1,853 31,078 |
2022 |
|---|---|---|
| £ | ||
| 136,291 | ||
| - | ||
| 136,291 | ||
| 19,045 | ||
| 2,700 | ||
| 21,745 | ||
| 233,862 2023 £ 45,815 4,003 7,142 5,312 1,512 42,194 3,787 18,512 3,987 15,572 1,900 149,736 560 6,700 3,104 7,808 |
||
| 158,036 | ||
| 2022 | ||
| £ | ||
| 31,031 | ||
| 2,847 | ||
| 1,826 | ||
| 3,654 | ||
| 1,574 | ||
| 32,975 | ||
| 1,091 | ||
| 29,980 | ||
| 3,716 | ||
| 4,341 | ||
| 808 | ||
| 113,842 | ||
| 472 | ||
| 6,600 | ||
| 1,720 | ||
| 1,330 | ||
| 18,172 1,130 - - - 1,130 |
10,122 | |
| 352 | ||
| 352 |
14
Notes to the Financial Statements for the year ended 31 Dec 2023
3. Fixed Assets
| Cost At 1 January 2023 Additions Disposals Revaluations At 31 December 2023 Depreciation At 1 January 2023 Charge for the year Adjustments At 31 December 2023 Net Book Value At 1 January 2023 At 31 December 2023 |
Building - Improvement £ 180,756 180,756 26,020 3,135 29,156 154,736 151,601 |
Motor Vehicles £ 11,010 58,377 69,387 8,242 11,218 19,460 2,768 49,927 |
Sound & Musical £ 14,118 1,730 15,848 11,761 992 - 12,753 2,358 3,096 |
Fixtures & Fittings £ 21,519 - - 21,519 21,519 - 21,519 - - |
Machineries & Other Equipment £ 26,733 678 27,411 26,227 226 - 26,453 506 958 |
Total £ 254,137 60,785 - - |
|---|---|---|---|---|---|---|
| 314,922 | ||||||
| 93,769 15,572 - |
||||||
| 109,341 | ||||||
| 160,368 | ||||||
| 205,581 |
4. Related Party Transactions
During the year, the church made donations and contributions to other RCCG and charitable organisations as shown in note 3 under Central Office and Charitable Giving.
5. Trustee Remuneration & Expenses
During the year, there were not payments or reimbursement of expenses to trustee members.
6. Staff cost and numbers
| Wages and salaries Social security costs |
2023 £ 38,790 - 38,790 |
2022 |
|---|---|---|
| £ | ||
| 30,463 | ||
| - | ||
| 30,463 |
No employee received remuneration amounting to more than £60,000 in the year.
Average number of staff
| verage number of staff | ||
|---|---|---|
| Pastoral Admin |
2023 1 1 2 |
2022 |
| 1 | ||
| 1 | ||
| 2 |
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