2023-11-30-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Report and Accounts

30 November 2023

Company Registration Number - 07449763

Charity Registration Number - 1142685

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Report and accounts for the year ended 30 November 2023

Contents

	Page
Charity information	1
Trustees' annual report	1
Accountants' report	8 - 9
Funds statements:-
Statement of financial activities	10
Movements in funds	11
Income and expenditure account	12
Summary of funds	12
Balance sheet	13
Notes to the accounts	14-21

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

The trustees present their report and accounts for the year ended 30 November 2023, which also comprises the directors' report required by the Companies Act 2006.

Reference and administrative details

The charity name is Redeemed Christian Church of God, Palace of His Glory.

The legal name of the charity is Redeemed Christian Church of God, Palace of His Glory.

The charity is also known by its operating name, RCCG Palace of His Glory.

The charity's areas of operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1142685.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

The governing document is dated 15 July 2011 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals and listed below:

Iredele Oyedele Taiwo Flora Oniasanmi Femi Ogbaro

1

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

The principal operating address, telephone number, email and web addresses of the charity are:-

Unit 10B May Avenue Industrial Estate, May Avenue, Northfleet Gravesend, DA11 8RU Telephone [phone]

Email Address [e-mail]

The registered office of the charity for Companies Act purposes is the same as the operating address shown above.

The trustees in office on the date the report was approved were:-

Iredele Oyedele Taiwo Flora Oniasanmi Femi Ogbaro

The following persons served as trustees during the year ended 30 November 2023 :-

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

The company is a charity with a primary objective to reach out to people about the christian faith with focus within Kent and South East London.

a) To advance the christian faith in accordance with the statement of belief appearing in the schedule hereto in London and such other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the trust.

b) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location 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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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

The main activities undertaken in relation to those purposes during the year.

Our main objectives for the year continued to be the advancement of the Christian religion and to strive to improve the living condition of the needy. The strategies we applied to meet these objectives included:

1. Provision of weekly church services on Wednesday and Sunday to minister to the physical, spiritual and material needs of the congregation.

2. Provision of special events and meetings to meet the specific needs of target groups in the Church such as men, women, youth and children.

3. Focusing on the material needs of certain members undergoing difficult financial situations.

4. Working with other Christian agencies and churches in London to advance the preaching of the Gospel.

5. Provision of pastoral care for the members and other members of the community.

The main activities undertaken during the year to further the charity's purpose for the public benefit.

Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the Christian religion and the relief of poverty and sickness.

a. Ministering every week to the spiritual needs of the people through Bible study, prayer meetings, counselling sessions and healing meetings and

b. Our focus as a ministry and church is the outreach for souls.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

The main achievements and performance of the charity during the year.

Our church services are presented with both the regular congregant and the visitor or seeker in mind. We minister to the physical, mental and spiritual needs of the members in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily have a church background and as such may not understand the processes and procedures of Christianity.

We have also helped relieve poverty and hardship amongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources.

3

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

The trustees who are also charity trustees for the purposes of charity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declaration of Trust the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

All trustees give their time voluntarily and receive no benefits from the charity. Due to the nature of church work, trustees appointed have been so selected on the basis of their faith, strength of character, skills set in the area of business management and growth and commitment to the vision of the charity.

The policies and procedures for the induction and training of trustees.

Most trustees are already familiar with the practical work of the charity having been friends of the church for a number of years. Additionally, new trustees are invited and encouraged to function in the capacity as friends of the church in order to understand the offerings of the church and its market. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates.

These sessions would be jointly led by the Chair of trustees and the Chief Executive or Senior Pastor of the charity and cover:

o The obligations of trustees.

o The main documents which set out the operational framework for the charity including the Declaration of Trust.

o Resourcing and the current financial position as set out in the latest published accounts. o Future plans and objectives.

A Question and Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "The Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.

Bankers

National Westminster Bank Plc 250 Bishopesgate London EC2M 4AA

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

Financial review

The charity's financial position at the end of the year ended 30 November 2023

The financial position of the charity at 30 November 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity	2023 £ 35,297 100,182 100,182	2022 £ 23,442
		64,885
		64,885

Financial review of the position at the reporting date, 30 November 2023.

During the year, income of £88,461 (£61,501 in 2022) was received as voluntary donations. The net movement in funds for the period, as shown in the statement if financial activities, for the period was a surplus of £33,851 (£23,442 in 2022). The value of the net assets as at 30 November 2023 is £100,182 (£64,885 in 2022).

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Principal funding sources in the year and how these support the key objectives of the charity.

The principal funding sources for the charity are currently by way of donations and gifts from the congregants through the offering basket passed during church services and through bank standing orders.

We have exercised our right to reclaim the tax on the donations and gifts received from the congregants and this has proved a steady and growing source of additional income.

Details of the Independent Examiner

Adeniyi Zaccheus Chartered Certified Accountant 1A Town Square Erith Kent DA8 1RE

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

Statement of the directors trustees' responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

• to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

• select suitable accounting policies and apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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 also responsible for the contents of the trustees' report, and the statutory responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

6

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Company Registration Number - 07449763

Trustees' annual report for the year ended 30 November 2023

Method of preparation of accounts - Small company provisions

The financial statements are set out on pages 10 - 13.

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 28 August 2024.

Mr Femi Ogbaro Director and Trustee

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Report of the independent examiner to the trustees of the charitable company on the accounts for the year ended 30 November 2023

I report to the trustees on my examination of the financial statements of the charitable company on pages 10 to for the year ended 30 November 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on pages 14-21.

Respective responsibilities of the trustees and the independent examiner and the basis of the report

As described on page 6, you, the charitable company's trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of independent examiner's statement and scope of work undertaken

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the trustees of all material matters.

Independent examiner's statement, report and opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

This is a report in respect of an examination carried out under 145 of the Act and in accordance with directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).

I have no concerns 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 financial statements to be reached.

Adeniyi Zaccheus - Independent Examiner Chartered Certified Accountant 1A Town Square Erith Kent DA8 1RE

This report was signed on 28 August 2024

9

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY - Statement of Financial Activities for the year ended 30 November 2023

Statement of Financial Activities (including the Income and Expenditure Account for the year ended 30 November 2023, as required by the Companies Act 2006)

Income & endowments from: Donations & legacies Expenditure on: Charitable activities Total expenditure Net income for the year Reconciliation of funds:- Total funds brought forward Adjustments against reserves Total funds carried forward Net movement in funds	Current year Current year Current year Unrestricted Funds Restricted Funds Total Funds 2023 2023 2023 £ £ £ 88,461 - 88,461 54,610 - 54,610 54,610 - 54,610 33,851 - 33,851 33,851 - 33,851 64,885 - 64,885 1,446 - 1,446 100,182 - 100,182	Prior Year Total Funds 2022 £ 61,501 38,059
		38,059
		23,442
		23,442 41,443 -
		64,885

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All the prior year transactions were unrestricted items, and no further analysis is required

All activities derive from continuing operations

The notes attached on pages 14-21 to form an integral part of these accounts.

10

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY - Statement of Financial Activities for the year ended 30 November 2023

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY - Resources applied in the year ended 30 November 2023 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications of funds Net resources available to fund charitable activities	2023 £ 35,297 (1,169) - 34,128	2022 £ 23,442 (855) -
		22,587

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.

Movements in revenue and capital funds for the year ended 30 November 2023

Revenue accumulated funds

Unrestricted Funds 2023 £ Accumulated funds brought forward 64,885 33,851 98,736 1,446 Closing revenue funds 100,182 Summary of funds Unrestricted and Designated funds 2023 £ Total funds 100,182 Recognised gains and losses before transfers Adjustment against reserves	Restricted Funds 2023 £ - - - - - Restricted Funds 2023 £ -	Total Last year Funds Total Funds 2023 2022 £ £ 64,885 41,443 33,851 23,442 98,736 64,885 1,446 - 100,182 64,885 Total Last Year Funds Total Funds 2023 2022 £ £ 100,182 64,885

The notes attached on pages 14-21 to form an integral part of these accounts.

11

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY - Statement of Financial Activities for the year ended 30 November 2023

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY Income and Expenditure Account for the year ended 30 November 2023 as required by the Companies Act 2006

2023 £ Income Income from operations 88,461 Gross income in the year before exceptional items 88,461 Gross income in the year including exceptional items 88,461 Expenditure Charitable expenditure, excluding depreciation and amortisation 53,227 Depreciation and amortisation 883 Governance costs 500 Realised losses on disposals of social investments which are programme re - Total expenditure in the year 54,610 33,851 Tax on surplus on ordinary activities - 33,851 Retained surplus for the financial year 33,851 Net income after tax in the financial year Net income before tax in the financial year Investment income	2022 £ 61,501
	61,501
	61,501
	35,465 2,094 500 -
	38,059
	23,442 -
	23,442
	23,442

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 14-21 to form an integral part of these accounts.

12

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY - Balance Sheet as at 30 November 2023

	Notes		2023		2022
			£		£
Fixed assets
Tangible assets	7		2,262		530
Current assets
Cash at bank and in hand		98,420		64,855
Creditors: amounts falling due
within one year	8	(500)		(500)
Net current assets			97,920		64,355
The total net assets of the charity			100,182		64,885
Restricted funds			-		-
Unrestricted funds
Unrestricted revenue funds	11	100,182		64,885
			100,182		64,885
Total charity funds			100,182		64,885

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

For the year ending November 2023 the company was entitled to exemptiom from audit under section 476 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

This accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Mr Femi Ogbaro

Trustee Approved by the board of trustees on 28 August 2024

The notes attached on pages 14-21 to form an integral part of these accounts.

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Notes to the Accounts for the year ended 30 November 2023

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Risks and future assumptions

The charity is a public benefit entity.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of Income

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Notes to the Accounts for the year ended 30 November 2023

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Dividends are accrued when the shareholder’s right to receive payment is established.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 5.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.

Office and church equipment 20% straight line Furniture and fittings 20% straight line

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Notes to the Accounts for the year ended 30 November 2023

Creditors and provisions

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance to the general objectives of the church and which have not bee designated for other purposes.

Restricted fundsare funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes.

There are no endowment funds.

2 Liability to taxation

The trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Net surplus before tax in the financial year

The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets Net surplus before tax in the financial year	2023 2022 £ £ 883 2,094

5 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The charity had 12 Volunteers who donated 1,847 hours of their time stewarding events. Other volunteers undertook 40 hours of mailings and distributions and two specialist volunteers with DBS checks, spent 475 hours a year supporting the weekly children’s and young people’s writing groups. It is estimated that without the help of volunteers, the Festival would need to find the equivalent of over £20,000 to obtain similar services. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Notes to the Accounts for the year ended 30 November 2023

6 Staff costs and emoluments Salary costs 7 Tangible fixed assets Land and Buildings £ Cost At 1 December 2022 - Additions - At 30 November 2023 - Depreciation At 1 December 2022 - Charge for the year - Depreciation reversal - At 30 November 2023 - Net book value At 30 November 2023 - At 30 November 2022 - 8 Creditors: amounts falling due within one year Accruals 9 Income and expenditure account summary At 1 December 2022 Surplus after tax for the year Adjustment against reserve At 30 November 2023	Land and Buildings £ - -	Office and church equipment £ 9,119 1,169	2023 £ 5,647	2022 £ 5,500
			Furniture and fittings Total ££ £ 13,248 22,367 - 1,169
	-	10,288	13,248	23,536
	- - -	10,200 355 (1,446)	11,637 528 -	21,837 883 (1,446)
	-	9,109	12,165	21,274
	-	1,179	1,083	2,262
	-	(1,081)	1,611	530
			2023 £ 500	2022 £ 500
				2023 64,885 33,851 1,446
				100,182

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Notes to the Accounts for the year ended 30 November 2023

10 Particulars of how particular funds are represented by assets and liabilities

At 30 November 2023 Tangible fixed assets Current assets Current liabilities At 1 December 2022 Tangible fixed assets Current assets Current liabilities	Unrestricted funds £ 2,262 98,420 (500)	Designated funds £ - -	Restricted Total fundss funds ££ £ - 2,262 - 98,420 - (500)	Restricted Total fundss funds ££ £ - 2,262 - 98,420 - (500)
	100,182	-	-	100,182
	Unrestricted funds £ 530 64,855 (500)	Designated funds £ - - -	Restricted Total fundss funds ££ £ - 530 - 64,855 - (500)
	64,885	-	-	64,885

11 Change in total funds over the year as shown in Note 10 , analysed by individual funds

Funds brought forward from 2022 Movement in funds in 2023 £ £ Unrestricted and designated funds:- Unrestricted revenue funds 64,885 33,851 Total unrestricted and designated funds 64,885 33,851 Total charity funds 64,885 33,851 Analysis of movements in funds over the year as shown in Note 11 Income Expenditure 2023 2023 £ £ Unrestricted and designated funds:- Unrestricted revenue funds 88,461 (54,610) 88,461 (54,610)	Funds brought forward from 2022 £ 64,885	Movement in funds in 2023 £ 33,851	£ 1,446 Adjustment against reserves	£ 100,182 Funds carried forward to 2024
	64,885	33,851	1,446	100,182
	64,885	33,851	1,446	100,182
			Other gains & t Movement lossess in funds 2023 2023 ££ £ - 33,851
	88,461	(54,610)	-	33,851

12 Analysis of movements in funds over the year as shown in Note 11

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Detailed analysis of income and expenditure for the year ended 30 November 2023 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

13 Donations, Grants and Legacies

Current year Unrestricted Funds 2023 £ 88,461 88,461 Expenditure on charitable activities - Direct spending Current year Unrestricted Funds 2023 £ 11,610 600 3,290 - 2,225 2,725 2,250 Total direct spending 22,700 Donations and others Honorarium Worship and outreach Welfare WEM COF Church events Donations and gifts from individuals Total donations and gifts from individuals	Current year Unrestricted Funds 2023 £ 88,461	Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - - - - - - -	Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 88,461 61,501 88,461 61,501 Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 11,610 3,800 600 600 3,290 - - 373 2,225 1,090 2,725 1,611 2,250 1,200 22,700 8,674	Prior Year Total Funds 2022 £ 61,501
	88,461			61,501
	22,700			8,674

14 Expenditure on charitable activities - Direct spending

19

THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Detailed analysis of income and expenditure for the year ended 30 November 2023 as required by the SORP 2015

15 Support costs for charitable activities

15 Support costs for charitable activities
	Current year	**Current year **	Current year	Prior Year
	Unrestricted	Restricted	**Total Funds **	Total Funds
Current Year	Funds	Funds
	2023	2023	2023	2022
	£	£	£	£
Employee costs not included in direct costs
Pastor's allowance	5,647	-	5,647	5,500
Travel and subsistence - staff	587	-	587	141
Volunteer costs
Musician expenses	146	-	146	1,150
Premises Expenses
Rates and water charges	684	-	684	458
Room hire	16,800	-	16,800	14,000
Light heat and power	1,409	-	1,409	1,048
Administrative overheads
Telephone, fax and internet	1,886	-	1,886	2,518
Stationery and printing	762	-	762	1,146
Advert	960	-	960	-
Books	494	-	494	136
Subscriptions	78	-	78	124
Zoom expenses	297	-	297	98
Sundry expenses	383	-	383	459
Repairs and maintenance	394	-	394	-
Professional fees paid to advisors other than the auditor or examiner
Consultancy fees	-	-	-	13
Financial costs
Depreciation & Amortisation in	883	-	883	2,094
Support costs before reallocation	31,410	-	31,410	28,885
Total support costs - Current Year	31,410	-	31,410	28,885
The basis of allocation of costs between activities is described under accounting policies

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THE REDEEMED CHRISTIAN CHURCH OF GOD, PALACE OF HIS GLORY

Detailed analysis of income and expenditure for the year ended 30 November 2023 as required by the SORP 2015

16 Other Expenditure - Governance costs

Other Expenditure - Governance costs
Current Year Independent Examiner's fees Total Governance costs	Current year Unrestricted Funds 2023 £ 500	Current year Restricted Funds 2023 £ - -	Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 500 500 500 500
	500			500

17 Total Charitable expenditure

Total Charitable expenditure
Current Year Total direct spending Total support costs Total Governance costs Total charitable expenditure	Current year Unrestricted Funds 2023 £ 22,700 31,410 500	Current year Restricted Funds 2023 £ - - - -	Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 22,700 8,674 31,410 28,885 500 500 54,610 38,059
	54,610			38,059

All the expenditure in the prior year was unrestricted.

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