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2022-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

Registered Charity number: 1143076

TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD 01 JANUARY 2022 TO 31 DECEMBER 2022

THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

CONTENTS
Trustee’s report 3
Trustees Responsibility Statement 7
Independent examiner’s report 8
Statement of Financial Activities 9
Statement of Assets and Liabilities 10
Notes to the Financial Statements 11 - 14

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

TRUSTEES’ REPORT FOR THE PERIOD 01 JANUARY 2022 TO 31 DEC 2022

The trustees present their annual report together with the financial statements of the charity for the period 01 January 2022 to 31 December 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATION DETAILS

Registered Charity number 1143076 Principal Address 367A Footscray Road New Eltham London SE9 2DR

Trustees Adeniyi Faboya Zainab Omowunmi Akinola Afolarin Ayodeji Jimoh

Minister in Charge

Pastor Richard Odufisan

Bankers HSBC 85 Lewisham High Street Lewisham London SE13 6BE

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The church is constituted under a trust deed dated 07 July 2011 and is a registered charity with number 1143076.

Method of appointment or election of Trustees

The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Organisational structure and decision making

The trustees set the strategic direction of the charity and decisions are determined by a simple majority vote. However, the day to day running operations of the Charity is managed by the pstorin-charge.

New Trustee selection is based on skills, experience and potential contribution to the governance of the Charity. They will be provided with copies of the Charity Commission's guidance to Trustees and briefed on the activities of the Charity by the existing board while Existing trustees are provided with training as and when required.

Related party relationships

RCCG Victory Assembly Sidcup is a member of the Redeemed Christian Church of God (RCCG) - a network comprising of churches all over the world. The parish’s relationship with RCCG and other parishes is governed by an “Agreement for Common Purposes”.

Risk management

The Trustees have assessed the major risks to which the church 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.

OBJECTIVES AND ACTIVITIES

Policies and Objectives

The objectives of The Redeemed Christian Church of God (Victory Assembly Sidcup) are:

Activities for achieving Objectives

The church has adopted the following strategies to achieve its objectives:

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

Grant Making Policy

RCCG Victory Assembly Sidcup supports missionary organisations such as the World Evangelism Mission and other RCCG Churches. The Church also supports other charities and missions that shares its objective to advance the Christian faith and relieve poverty. The Church also provides support to congregational members in need.

Volunteers

The trustees join with the pastors to appreciate the innumerable hours and unquantifiable efforts of many members who do not only volunteer their time and skills to provide diverse services regularly, but are also committed to other activities that may arise from time to time in the church

ACHIEVEMENTS AND PERFORMANCE

Conferences and seminars

We organised various conferences during the year. The conferences were open to all to teach about Christ and personal development. Such programs include the Quarterly Family Forum, Annual Youth Conference, Women’s conference, Praise nights, light up a life etc. Members of the community attended these programmes.

Saturday School

The church run a Saturday school during term time to assist children preparing for GCSE’s and 11+. Attended by many from the community, this service was provided free of charge. Success of previous sessions include admissions to some of the top grammar schools, success to in GCSE and A’level.

Buggy Klub

The toddler and parent group known as Buggy Klub is currently on hold, this is due to the aftermath of the pandemic. The volunteers running the club are not readily available. This service was provided free of charge. Plan is to restart soon, subject to getting volunteers to run the club.

Youth Service

The church continues to hold a monthly youth service- a service where teenagers and young adults are given the opportunity to express themselves under a caring, supportive an encouraging atmosphere where we have seen remarkable growth and leadership skills in our youth

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

Food Bank

Within our local community, we continue to support our foodbank outlet with supplies that will often make the difference between individuals being able to feed their family and their kids going hungry.

Christmas Hamper Boxes

We provided hampers with Turkey, vegetables and other foodstuffs, as part of the “Love Christmas scheme”, distributed to the elderly within the vicinity.

Feeding of the homeless during Christmas, providing hot foot as well as distributed some of the hampers at our local foodbank to support individuals and families to during Christmas

FINANCIAL REVIEW

Reserves policy

The Trustees have established a policy whereby unrestricted funds held by the church should cover at least 3 months of annual expenditure. At this level the trustees feel they would be able to continue the current activities of the church in the event of a significant drop in funding.

Principal Funding

This is provided mainly through voluntary offerings and tithes by church members. Pledges are also taken for specific projects This level of voluntary giving is both generous and encouraging.

Investment Policy

The trustees have decided that at present the funds should be retained in the Bank. Any change to this arrangement will be decided by the board

FUTURE DEVELOPMENTS

Buggy Klub

Currently, this service is on hold, plan to restart with plan to increase it from once a week to 2 or 3 days per week.

Property

We are seeking to purchase the property we are currently letting to enable us to carry out more community-based projects that we are unable to do now due to restrictions.

Finally, as part of fulfilling our main objectives, we continue to explore various ways of spreading the gospel of Christ in an effective manner. We are also looking to grow in membership and continue developing our members to make life-changing impact in the society.

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

TRUSTEES’ RESPONSIBILITY STATEMENT

FOR THE PERIOD 01 JANUARY 2022 TO 31 DECEMBER 2022

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 Accepted 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 resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

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.

The appended financial statements have been prepared on a receipts and payments basis and have been examined by an independent examiner whose report is also appended.

ON BEHALF OF THE BOARD

............................................. Signature

Trustee

............................................. Date

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

INDEPENDENT EXAMINER’S REPORT

FOR THE PERIOD 01 JANUARY 2022 TO 31 DECEMBER 2022

To the Trustees of The Redeemed Christian Church of God Victory Assembly Sidcup

I report on the accounts of the charity for the period 01 January 2022 to 31 December 2022 which is set out on pages 9 to 14.

Respective Responsibilities of the Trustees and The 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:

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 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:

Independent Examiner

Chrisdol Consulting Ltd Date:

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 01 JANUARY 2022 TO 31 DECEMBER 2022

----- Start of picture text -----
RECEIPTS AND PAYMENTS ACCOUNTS
Unrestricted Restricted
Total funds Last year
Notes funds funds
£ £ £ £
Receipts
Voluntary Income 1 128,229 5,400 133,630 110,926
Investment Income 2 507 507 16
Activities for generating funds 3 255 255 5
Subtotal 128,992 5,400 134,392 110,947
Total Receipts 128,992 5,400 134,392 110,947
Payments
Cost of generating Voluntary Income 4 13,425 13,425 22,679
Charitable activities 5-8 83,737 3,818 87,555 66,588
Subtotal 97,162 3,818 100,980 89,266
Net of receipts/(payments) 31,830 1,582 33,412 21,681
Transfers between funds (1,111) 1,111
Cash funds last year end 149,710 90,390 240,100 218,420
Cash funds this year end 180,429 93,084 273,512 240,100
----- End of picture text -----

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

STATEMENT OF ASSETS AND LIABILITIES Cash Funds

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted| |Total Funds| |funds|funds| |£|£|£| |Bank Account Current|33,879|33,879|78,974| |Savings Account|146,550|93,084|239,634|161,126| |Total cash funds|180,429|93,084|273,512|240,100| |OK|OK| |Assets retained for the charity’s own use| |Unrestricted|Restricted|Current Value| |Printer|648|-| |Laptop|509|127| |Computer (Tech)|529|132| |Camcorder|518|259| |Choir Equipment|569|285| |Air Conditioning Unit(Youth and children roo|4,393|2,197| |Microphone wireless system (Choir)|516|387| |Motor vehicle (Car)|18611|14,889|

----- End of picture text -----

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||| |---|---| |Unrestricted| |Liabilities| |WEM|23,562| |PTO|2,665| |COF|100| |Postbox|None|

----- End of picture text -----

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 01 JANUARY 2022 TO 31 DECEMBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of RCCG Victory Assembly have been prepared in accordance with Charity Accounting Regulations 2006 using the Receipt and Payments basis.

Incoming resources

All incoming resources 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 a cash basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to specific headings they have been allocated to activities on a basis consistent with the use of resources.

Cost of generating funds

Costs of generating funds are those costs relating to the generation of income.

Charitable activities

Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the church. These include both directly attributable costs and apportioned support costs.

Governance costs

Governance costs are the costs associated with the strategic direction of the charity meeting regulatory responsibilities.

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.

Restricted funds can only be used for specific purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for specific purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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THE REDEEMED CHRISTIAN CHURCH OF GOD

VICTORY ASSEMBLY SIDCUP

1. VOLUNTARY INCOME
Building Donations
Gift Aid Claimed
Offering
Pledge & Seeds
Sundry Donation
Thanksgiving - Monthly
Thanksgiving - Other
Tithe
2. INVESTMENT INCOME
Bank Interest Receivable
3. ACTIVITIES FOR GENERATING FUNDS
Book Stall Sales - Books
Hall/Premises Hire
4. COST OF GENERATING VOLUNTARY INCOME
Central Office Admin Charges
Church Overseas: Missionary Societies
Donation to Other RCCG Parishes
WEM Levies
5. CHARITABLE ACTIVITIES COST
Children Ministry
General Advert and Publicity
Honorarium
Hospitality & Refreshments
Music Ministry
Youth Ministry
Other Ministry Expenses
Outreach Activities - Buggy Klub
Outreach Activities - General
Outreach Activity - Saturday School
Secular Charities & Relief of Poverty
Training & Conferences
Welfare Support
Website Expenses
Computer software
Guest Ministers Expenses
Men's Ministry
Women's Ministry		 Unrestricted
funds
£
-
24,895
545
4,099
1,587
97,104		 Restricted
funds
£
3,535
-
6
1,860
5,400
Restricted
funds
£
Restricted
funds
£
Restricted
funds
Restricted
funds
£
363
2,460
247
-
132
616
-
-
-
3,818		 Total Funds
£
3,535
-
24,901
545
1,860
4,099
1,587
97,104		 4,870
-
21,544
1,508
1,800
4,567
2,357
74,280
128,229 133,630 110,926
Unrestricted
funds
£
507
Unrestricted
funds
£
135
120
Unrestricted
funds
1,100
2,439
1,220
8,666		 Total Funds
£
507
Total Funds
£
135
120
Total Funds
£
1,100
2,439
1,220
8,666		 16
5
1200
200
200
21078.87
13,425 13,425 22,679
Unrestricted
funds
£
-
1,150
300
-
239
1,660
1,150
1,300
-
-
-
-
-		 Total Funds
£
363
-
1,150
300
2,460
247
239
-
1,660
132
616
1,150
1,300
-
-
-
-
-		 598
-
2,150
-
600
270
1,347
-
716
-
962
-
2,186
-
73
226
-
-
5,799 9,617 9,127

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THE REDEEMED CHRISTIAN CHURCH OF GOD

VICTORY ASSEMBLY SIDCUP

6. SUPPORT COSTS

Equipment Purchases
General Rates
Insurance
Other Sundry Expenses
Payroll Expenses
Postage, Printing ,Stationery & Photocopying
Premises Repairs & Maintenance
Rent
Subscriptions and Dues
Telephone & Broadband
Travel & Subsistence
Utilities
Waste Disposal & Caretaking
Book Stall Purchases
7. FINANCE COSTS
Card Processing Fees
8. GOVERNANCE COSTS
Accountancy Fees
Legal & Professinoal Fees
Trustees meeting expenses		 Unrestricted
funds
£
19,529
2,534
1,124
983
13,995.85
338
350
33,333
452
743
-
1,561
756
328		 Restricted
funds
£
-
-
Restricted
funds
£
Restricted
funds
£		 Total Funds
£
19,529
2,534
1,124
983
13,996
338
350
33,333
452
743
-
1,561
756
328		 1,490
1,904
610
329
11,856
2,408
4,823
30,000
329
710
-
1,292
530
240
76,027 76,027 56,521
Unrestricted
funds
£
1,111
Unrestricted
funds
£
800
-		 Total Funds
£
1,111
Total Funds
£
800
-		 939.8
0
0
0
800 800 -

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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP

2. TRUSTEES REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period 01 January 2022 to 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the period 01 January 2022 to 31 December 2022.

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