REGISTERED COMPANY NUMBER: 07682320 (England and Wales) REGISTERED CHARITY NUMBER: 1143443
Report of the Trustees and Financial Statements for the year ended 30th June 2021 For REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Contents of the Financial Statements For the year ended 30th June 2021
| Page | |
|---|---|
| Trustee's Report | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 |
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Report of the Trustees For the year ended 30th June 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07682320 (England and Wales)
Registered Charity number
1143443
Registered office
Alpine Street Off Church Street Basford Nottingham NG6 0HS
Trustees/Directors
Pastor Rasaq Adio Ibrahim Dr Adetutu Omosola Emmanuel Dr Ayanate Alalibo Ephraim
Independent Examiner
Tunji Ogedengbe
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The church is organised so that the trustees meet regularly to manage its affairs. There is a volunteer office administrator, who manages the day to day administration of the church.
Related parties
RCCG - Divine Covenant Centre is a member of Redeemed Christian Church of God (RCCG) which has Parishes all over the world. The relationship is governed by an Agreement for common purposes between the Parishes and RCCG.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Report of the Trustees For the year ended 30th June 2021
FINANCIAL REVIEW Reserves policy
The net incoming resources for the year amounted to £15,297. All these have been unrestricted reserves and no fund is allocated to restricted project.
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets. The free reserves held by the church should be 3 months of annual expenditure. At this level, the trustees feel that would be able to continue the current activities of the church in the event of significant drop in funding.
Principal funding sources
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
FUTURE DEVELOPMENTS
The church will continue to explore various ways of spreading the gospel of Christ in an affective manner. The charity is also looking to grow in membership and continue to develop its members to make life - changing impact in society, plant more parishes and due to the increase in the number of members, our future plan is to accommodate those members and likely additional.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of RCCG - Divine Covenant Centre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company 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 charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence for for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Pastor Rasaq Adio Ibrahim ON BEHALF OF THE BOARD:
Date: 14th October 2021
Page 2
Independent Examiner's Report to the Trustees of
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
I report on the accounts for the year ended 30 June 2021 set out on pages four to nine. Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of FCCA DChA. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements 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 requirements
- to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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.
Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
Date: 11th October 2021
Page 3
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Statement of Financial Activities
For the year ended 30th June 2021
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Investment income 2 Total incoming resources RESOURCES EXPENDED Charitable activities Charitable activities Governance costs Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Total funds brought forward Prior Year Adjustment TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted Restricted Total Funds Funds Funds £ £ £ 68,499 - 68,499 - - - 68,499 - 68,499 12,211 12,211 40,992 40,992 53,202 - 53,202 15,297 - 15,297 126,470 126,470 - 141,766 - 141,766 |
2020 Total Funds £ 60,425 - |
|---|---|---|
| 60,425 13,713 31,779 |
||
| 45,491 14,934 111,536 |
||
| 126,470 |
Page 4
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Balance Sheet
At 30th June 2021
| 2021 Unrestricted Restricted Total Funds Funds Funds Notes £ £ £ FIXED ASSETS Tangible assets 5 133,400 133,400 CURRENT ASSETS Debtors: amounts falling due after more than one year 6 5,000 5,000 Cash in hand 17,148 17,148 22,148 - 22,148 CREDITORS Amounts falling due within one year 7 350 350 NET CURRENT ASSETS/(LIABILITIES) 21,798 - 21,798 TOTAL ASSETS LESS CURRENT LIABILITIES 155,199 - 155,199 CREDITORS Amounts falling due after more than one year 8 13,433 13,433 NET ASSETS 141,766 - 141,766 FUNDS 9 Unrestricted funds 141,766 141,766 Restricted funds TOTAL FUNDS 141,766 141,766 |
2020 Total Funds £ 125,000 5,000 14,290 |
|---|---|
| 19,290 350 |
|
| 18,940 143,940 17,470 |
|
| 126,470 | |
| 126,470 | |
| 126,470 |
Page 5
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Notes to the Financial Statements For the year ended 30th June 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
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 an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on reducing balance Fixtures and fittings -25% on reducing balance Motor vehicles - 25% on reducing balance
Taxation
The charity is exempt from corporation 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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
Bank interest receivable
3. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting):
Depreciation - owned assets
Page 6
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Notes to the Financial Statements - continued For the year ended 30th June 2021
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2021
Trustees' Expenses
There were no trustees' expenses paid neither for the year ended 30 June 2021
5. TANGIBLE FIXED ASSETS
| 5. TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|
| Freehold | Fixtures and | Motor | |||
| property | fittings | vehicles | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1 July 2021 | 125,000 | - | - | 125,000 | |
| Additions | 11,201 | 11,201 | |||
| At 30 June 2021 | 125,000 | 11,201 | - | 136,201 | |
| DEPRECIATION | |||||
| At 30 June 2021 | 2,800 | 2,800 | |||
| Charge for year | |||||
| 2119 | - | 2,800 | - | 2,800 | |
| NET BOOK VALUE | |||||
| At 30 June 2021 | 125,000 | 8,400 | - | 133,400 |
6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
| Debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Mortgage Accrued expenses |
2021 2020 £ £ 5,000 5,000 |
|---|---|
| 2021 200 £ £ - - 350 350 |
|
| 350 350 |
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Page 7
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Notes to the Financial Statements - continued For the year ended 30th June 2021
MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |
|---|---|
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Net movement in At 1/07/20 funds At 30/06/21 £ £ £ 126,470 15,296 141,766 |
| 126,470 15,296 141,766 |
|
| Incoming Resources Movement in resources expended funds £ £ £ 68,499 53,202 15,297 |
|
| 68,499 53,202 15,297 |
Page 8
REDEEMED CHRISTIAN CHURCH OF GOD DIVINE COVENANT CENTRE
Detailed Statement of Financial Activities For the year ended 30th June 2021
| INCOMING RESOURCES Voluntary income Offering Thanksgiving Tithe Gift aid/receipts from outreach Pastor's support First Fruits Other Total incoming resources RESOURCES EXPENDED Charitable activities Evangelism Central Office Honorarium W.E.M. Donations Festival of Life - FOL Area Contribution Welfare Governance costs Mortgage interest Accountancy fees Building related cost Office and Church Equipment Printing, Postage and stationary Insurance Building Insurance Travel Expenses Pastor Rent Training Conference Maintenance Admin and Office Expense Telephone Website and publicity Utilities Covid 19 Professional fees Waste Management Depreciation Total resources expended Net income |
2021 2020 £ £ 15,270 12,743 3,510 2,589 39,591 37,896 9,411 5,639 880 455 658 262 20 |
|---|---|
| 68,499 60,425 |
|
| 1,650 150 600 660 - 500 9,000 9,000 396 1,621 - 250 565 840 - 692 |
|
| 12,211 13,713 |
|
| 628 962 350 350 1,700 886 1,235 81 157 60 979 854 - - 1,345 23,274 19,760 - 125 1,538 640 - 89 6,416 - 815 530 387 702 49 - 1,190 1,642 744 - 918 1,233 - 330 2,800 - |
|
| 40,992 31,779 |
|
| 53,202 45,491 |
|
| 15,297 14,934 |
Page 9