THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP
## **Registered Charity number: 1143076**
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD 01 JANUARY 2024 TO 31 DECEMBER 2024
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 2024 TO 31 DECEMBER 2024**
The trustees present their annual report together with the financial statements of the charity for the period 01 January 2024 to 31 December 2024. 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 pstor-incharge.
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
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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP
- Sunday School for all ages of children
- 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 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
A separate bi-monthly session for young adults started in July. Sessions are geared towards supporting spiritual growth, psychological and emotional well being. An outreach arm for the young adults.
## **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.
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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP
## **TRUSTEES’ RESPONSIBILITY STATEMENT**
## **FOR THE PERIOD 01 JANUARY 2024 TO 31 DECEMBER 2024**
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.
Trustee
Adeniyi Faboya ............................................. Date 28/10/2025
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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP
## **INDEPENDENT EXAMINER’S REPORT**
## **FOR THE PERIOD 01 JANUARY 2024 TO 31 DECEMBER 2024**
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 2024 to 31 December 2024 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: 28/10/2025
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THE REDEEMED CHRISTIAN CHURCH OF GOD
VICTORY ASSEMBLY SIDCUP
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE PERIOD 01 JANUARY 2024 TO 31 DECEMBER 2024**
## **RECEIPTS AND PAYMENTS ACCOUNTS**
|Notes
**Receipts**
Voluntary Income
1
Investment Income
2
Activities for generating funds
3
_Subtotal_
_Total Receipts_
**Payments**
Cost of generating Voluntary Income
4
Charitable activities
5-8
_Subtotal_
**Net of receipts/(payments)**
**Transfers between funds**
**Cash funds last year end**
**Cash funds this year end**|**Unrestricted**
**funds**
**£**
127,125
4,370
299
**131,794**
**131,794**
2,700
80,091
**82,791**
**49,003**
**(3,503)**
167,501
**213,001**|**Restricted**
**funds**
**£**
5,790
**5,790**
**5,790**
6,065
**6,065**
**(275)**
3,503
97,017
**100,246**|**Total funds**
**£**
132,915
4,370
299
**137,584**|**Last year**
**£**
120,955
3,465
195|
|---|---|---|---|---|
|||||**124,615**|
||||||
||||**137,584**|**124,615**|
||||2,700
86,155|48,640
84,969|
||||**88,855**|**133,609**|
||||||
||||**48,729**|**8,994**
**-**|
||||264,519|273,512|
||||**313,247**|**264,519**|
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THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP
**----- Start of picture text -----**
STATEMENT OF ASSETS AND LIABILITIES
Cash Funds
Unrestricted Restricted
Total Funds
funds funds
£ £ £
Bank Account Current (13,968) 100,246 86,278 44,920
Savings Account 226,969 - 226,969 219,599
Total cash funds 213,001 100,246 313,247 264,519
OK OK
Assets retained for the charity’s own use
Unrestricted Restricted Current Value
Printer 648 -
Laptop 509 -
Computer (Tech) 529 -
Camcorder 518 130
Choir Equipment 569 142
Air Conditioning Unit(Youth and children room) 4,393 1,098
Microphone wireless system (Choir) 516 129
Motor vehicle (Car) 18,611 7,444
Mixer (Choir) 2,480 1,240
Keyboard (Choir) 1,522 761
Microphone wireless system (Choir) 586 439
Unrestricted
Liabilities
WEM 19,580
PTO 2,431
COF -
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 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.
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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**
**£**
-
29,275
4,603
3,823
2,422
87,001
**127,125**
**Unrestricted**
**funds**
**£**
4,370
**Unrestricted**
**funds**
**£**
299
-
**Unrestricted**
**funds**
1,300
200
1,200
-
**2,700**
**Unrestricted**
**funds**
**£**
175
4,000
614
-
153
1,720
1,738
2,900
-
-
120
-
-
**11,420**|**Restricted**
**funds**
**£**
2,615
-
-
3,175
**5,790**
**Restricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Restricted**
**funds**
**Restricted**
**funds**
**£**
77
2,420
1,993
-
700
768
106
-
-
**6,065**|**Total Funds**
**£**
**2,615**
**-**
**29,275**
**4,603**
**3,175**
**3,823**
**2,422**
**87,001**|3,093
-
29,447
1,958
2,475
4,294
1,987
77,701
**120,955**
3,465
195
1,200
-
4,290
43,150
**48,640**
375
-
1,600
365
1,670
1,569
244
-
880
100
704
1,200
1,650
368
-
273
-
1,000
**11,997**|
|---|---|---|---|---|
||||**132,915**||
||||**Total Funds**
**£**
**4,370**
**Total Funds**
**£**
**299**
**-**
**Total Funds**
**£**
**1,300**
**200**
**1,200**
**-**||
||||**2,700**||
||||**Total Funds**
**£**
**77**
**175**
**4,000**
**614**
**2,420**
**1,993**
**153**
**-**
**1,720**
**700**
**768**
**1,738**
**2,900**
**-**
**-**
**226**
**-**
**-**||
||||**17,485**||
||||||
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## THE REDEEMED CHRISTIAN CHURCH OF GOD VICTORY ASSEMBLY SIDCUP
## **6. SUPPORT COSTS**
|**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**
**£**
811
3,147
1,429
383
16,856
259
2,007
35,000
747
892
191
3,268
757
180
**65,927**
**Unrestricted**
**funds**
**£**
2,043
**Unrestricted**
**funds**
**£**
500
200
-
**700**|**Restricted**
**funds**
**£**
-
**-**
**Restricted**
**funds**
**£**
**Restricted**
**funds**
**£**|**Total Funds**
**£**
**811**
**3,147**
**1,429**
**383**
**16,856**
**259**
**2,007**
**35,000**
**747**
**892**
**191**
**3,268**
**757**
**180**|4,002
5,019
776
1,398
12,816
-
-
35,000
404
783
-
5,531
695
330|
||||**65,927**|**66,753**|
||||**Total Funds**
**£**
**2,043**
**Total Funds**
**£**
**500**
**200**
**-**|1,995
250
3,974
-|
||||**700**|**4,224**|
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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 2024 to 31 December 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the period 01 January 2024 to 31 December 2024.
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