THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP ## **Registered Charity number: 1143076** TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD 01 JANUARY 2023 TO 31 DECEMBER 2023 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| P a g e | **2** THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP ## **TRUSTEES’ REPORT FOR THE PERIOD 01 JANUARY 2023 TO 31 DEC 2023** The trustees present their annual report together with the financial statements of the charity for the period 01 January 2023 to 31 December 2023. 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 P a g e | **3** 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 pstor-in-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: - The furtherance of Christianity and the Christian education. - Provision of suitable atmosphere where the Christian principles can be taught and developed with our community. - Help in the relief of poverty locally and worldwide. ## **Activities for achieving Objectives** The church has adopted the following strategies to achieve its objectives: - Christian worship through the following activities of the church - Sunday service - Sunday School for all ages of children P a g e | **4** THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP - Weekly Bible Study - Weekly prayer meetings - Monthly Youth meetings - Organising Christian outreach programmes to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man, spiritually, mentally and physically. - Supporting other charities and Christian events. - Providing overseas aid and famine relief. ## **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 P a g e | **5** THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP encouraging atmosphere where we have seen remarkable growth and leadership skills in our youth ## **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 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 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. P a g e | **6** THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP ## **TRUSTEES’ RESPONSIBILITY STATEMENT** ## **FOR THE PERIOD 01 JANUARY 2023 TO 31 DECEMBER 2023** 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 - Select suitable accounting policies and then apply them consistently. - Observe the methods and principles in the Charity SORP. - Make judgement 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. 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** P a g e | **7** THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP ## **INDEPENDENT EXAMINER’S REPORT** ## **FOR THE PERIOD 01 JANUARY 2023 TO 31 DECEMBER 2023** 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 2023 to 31 December 2023 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: - examine the accounts under section 145 of the Charities Act, - 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 - 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 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: - 1) which gives me reasonable cause to believe that in any material respect, the requirement: - to keep accounting records in accordance with section 130 of the Charities Act; - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or - 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Independent Examiner Patricia Balogun Chrisdol Consulting Ltd Date:24/10/2024 P a g e | **8** THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE PERIOD 01 JANUARY 2023 TO 31 DECEMBER 2023** P a g e | **9** THE REDEEMED CHRISTIAN CHURCH OF GOD victORY ASSEMBLY SIOCUP STA TEMENT OF ASSETS AND LIABILITIES Cash FuThds U•rtsii•ci¢d Bank Account Current Savings Accouni Toial eash Iwfids 153,0701 219 599 166 529 97.990 14,920 219 599 264 519 33,879 239 634 273 512 Asseis ieiaiThed foi ihe th￿ItI.S o¥fft use Cornputer Chairs Air CoThliiioningUnii Mixér Cabinet Maiiix Switch Printer Laptop Cornpuièr (Tech) Camcorder Choii Equiprn*nt Air Condiiioning Unillyouih and childreTrrooml MiorophoTr* wiielèss systern (Choir) Motoi vehicle IC4rl Mi%ei (Choir) Keyboard (Choir) 640 1.548 7.655 1,598 835 545 648 508 529 518 568 4.3￿ts 516 130 142 1.098 258 ll.167 1.860 1,152 2479.84 1522.28 Liabililies VEM PTO COF Posibox 3.927 Non• THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE PERIOD 01 JANUARY 2023 TO 31 DECEMBER 2023** ## **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. P a g e | **11** THE REDEEMED CHRISTIAN CHURCH OF GOD victORY ASSEMBLY SIOCUP VOLU•￿ARy INCOME Lasi yeav Building Donations Gill Aid Cl*rned 3.092 2.092 2535 29.443 1.958 29.447 l958 2.475 4.284 l9*7 77.701 120 955 24.9)1 545 l860 4.099 1587 97.104 133 630 Pledge& Seeds SLJndry Donaiion Thanks9iving- MontNy Thanksgvuing- Othpr Tirhe 2.175 4.294 1.987 77.701 115 383 INVESTMEIIT INCOME Bank Int*r*st Bec*￿18b1¢ 3.46 &4615 07 ACTIVITIES FOR GENERATINQ FUfrIDS Bcok St41 Sales- Books HalllPremises Hiie 150 45 255 COST OF GENERATING VOLUNTARY INCOME Cèntral OfF￿& Adm*ichar￿S Church Ovor5è4s. MissionaiySocioti¢s Donation to Other RCCG Parishes WEM Lewes 1.2 l200 2438.86 1220 8665.89 4.29) 43.150 4.290 43.150 CHARITABLE ACTIVITIES COST Childr*D Mnistry Gènwal Advort andPtJblicity Honoiariurn Hospiialiiy & Relreshmenis Music Ministiy Youth MIDistry Oth*r Ministry Expènsès Ouir•achAotiviti¢s- Buggy Khjb OuireachAciiviiies- General OuireachAcliviiy- SaiLYday School S*¢ular Chèiili*s & RelieFol Po¥wiy Training & CoThlèrèncès WolFare Support Website Expenses Computei software Guest Ministers Expthses Men's Ministry Womon's Ministry 375 3715 363 1.6fy) 365 1.670 l600 365 L670 l569 1150 300 2.460 247 229 1.569 244 880 loo 7114 l2110 (650 368 t660 132 816 1150 l200 100 704 1.2rxi 1.69) 273 273 1.000 1.000 THE REDEEMED CHRISTIAN CHURCH OF GOD victORY ASSEMBLY SIOCUP SiPPORT COSTS T•i•l F*ds Equipmont Pur¢has¢S General Rates hsuraTh¢e Oiher SuThdiy Expenses Payioll E%pèTrses Postage. Printing.Slaiionery & Photc¢opJin9 Piemisos Repays &M*nlen4nc• Renl Subs¢riptions bnd Dues TelÈphoTh* & 8ioadbaTrd Travel & Subsistence 4.002 5,019 77S 1.398 12.815.51 4.002 5.019 776 1.398 12.¥18 19.529 2.534 13.996 338 350 33.333 452 743 35,000 401 783 35.000 7•3 5.531 695 330 5.531 695 330 Waste Disposal &Caietaking Book stall Puichases 328 FINANCE COSTS U•reslffvcted lry•ds Reslricle Total Fwds Caid Proc*ssing Fèes 1.995 1.995 GOVERNANCE COSTS lry•d T•i•l F*ds AccountancyF¢•s Legal & Piolessinoal Fees Trusteès meèting exp*Thsès 250 3,974 2511 3.974 800 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 2023 to 31 December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the period 01 January 2023 to 31 December 2023. P a g e | **14**