**Registered charity number : 1143880**
**THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
**Financial Statements for the Year Ended 31 December 2023**
## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Reports of the Trustees for the year ended 31 December 2023**
## **Administrative Information:**
The Redeemed Christian Church of God: Power Connections is part of The Redeemed Christian Church of God (UK) a national church organisation in the United Kingdom.
## **Address**
236 Meanwood Road Leeds West Yorkshire LS7 2AH
## **Board of Trustees**
Pastor Patrick Babalola (Chairman) Mr. Akinola Falola Mrs Adebokola Ajibola Mrs Felicia Omoediale-Samuel
## **Pastor-in-Charge**
Pastor Raphael Ibiyeye
## **Banker**
Barclays Leeds Albion St 69 Albion Street West Yorkshire Leeds. LS1 5AA
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Reports of the Trustees continued**
## **Aims and purpose**
The strategic objectives of the Redeemed Christian Church of God (RCCG) , Power Connections are directly linked to its aims. They are:
1. Worship and Prayer - learning about the Gospel through periodic bible study and increasing awareness of God’s presence by spreading His love. 2. Service - provision of pastoral care for the people living in the community. 3. Missionary activities - developing confidence in evangelism and in capacity to spread of God and faith to all.
## **Objective and activities**
The church is actively engaged in collaboration with local churches and organisations as an expression of its added community services. Presently, RCCG: Power Connections is a member of the following local organisations:
a) TEAM - Together Everybody Achieve More b) Leeds City Prayer Collaboration
## **Structure, governance and management**
Thee was no change in the composition of the board of trustees in the year. The board met regularly and set the direction and policy framework for the Church. The board also put in place the process for reviewing, evaluating and implementing appropriate risk management framework.
## **Risk management**
The trustees actively review the major risks which the charity faces on a regular basis. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **Financial review**
Total income during the year was £206,860 (2022: £161,448), an increase of 28% over 2022. The total expenditure was £144,869 (2022: £111,626) representing a 30% increase compared to prior year. Overall, the church fund stood at a positive balance of £208,443.
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Accounting Policies**
## **a) Basis of accounting**
The financial statements are prepared in accordance with the Charities Statement of Recommended Practice (SORP). The statement of financial activities (SOFA) is presented in columns for general fund and endowment capital, showing the net incoming resources, resources expended, and all other recognised gains and losses in the appropriate column.
The financial statements are also prepared in accordance with the historical cost convention. They comply with all applicable United Kingdom law and accounting standards.
## **b) Incoming resources**
Donations, contributions and legacies are accounted for when entitlement has been confirmed, the amount can be measured accurately and receipt is certain.
## **c) Resources expended**
All resources expended are accounted for on an accrual basis. Any ensuing liabilities are recognised as soon as constructive obligation arises.
## **d) Funds**
Unrestricted funds are funds which are available for use at the discretion of the trustees furtherance of the general objectives of the Charity.
Restricted funds are funds which are to be used in accordance with specific instructions imposed by donors or which have been raised by the trustees’ particular purpose. The cost of raising and administering such funds are charged against specific fund.
## **e) Depreciation**
Depreciation on fixed assets is charged so as to write off their full costs less estimated residual value over their expected useful lives at the following rates:
Computer equipment Motor vehicle
50% straight line 25% straight line
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD:**
## **POWER CONNECTIONS**
**Statements of Financial Activities for the year ended 31 December 2023**
|||**Unrestricted**|**Restricted**|**Total**||
|---|---|---|---|---|---|
|||**Fund**|**Fund**|**2023**|**2022**|
|**Incoming resources**|**Notes**|||**£**|**£**|
|Voluntary incomes|1|206,860|0|**206,860**|161,208|
|Other income||0|0|**0**|0|
|**Total incoming resources**||**206,860**|**0**|**206,860**|**161,208**|
|**Resources expended**||||||
|Church activities|2|144,869|0|**144,869**|111,626|
|Fund raising||0|0|**0**|0|
|**Total resources expended**||**144,869**|**0**|**144,869**|**111,626**|
|Net incoming/(Outgoing) resources||||||
|before transfers||61,991|0|**61,991**|49,582|
|Gross transfers between funds||0|0|0|0|
|**Net incoming/(Outgoing) resources after transfers**||||||
|**and before other recognised gain/loss**||**61,991**|**0**|**61,991**|**49,582**|
|Gain/(loss) on revaluation and disposal of||||||
|investment assets||0|0|**0**|0|
|**Net movement in funds**||**61,991 **|**0**|**61,991 **|**49,582 **|
|Total funds b/f at 1 January 2023||146,452|0|**0**|6,447|
|**Total funds c/f at 31 December 2023**||**208,443**|**0**|**208,443**|**56,029**|
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Balance sheet at 31 December 2023**
|**Balance sheet at 31 December 2023**||
|---|---|
|**Notes**
**2023**
**£**
**Fixed assets**
Tangible assets
4
6,793.94
**Current assets**
Prepayment
5
-
Cash at bank and in hand
6
254,067.66
RCCG POWER CONNECTIONS
-
Accruals
-
**254,067.66**
**Creditors: amounts falling due within one year**
Loan Account
45,000.00
Accruals
7,418.95
Total Creditors: amounts falling due within one year
52,418.95
**Net current assets**
201,648.71
**Total assets less current liabilities**
**208,442.65**
**Creditors: amounts falling due after more than one year**
Loan
-
**Total Creditors: amounts falling due after more than oneyear**
**-**
**Net Assets**
**208,442.65**
**Funds of the Charity**
Unrestricted fund
7
208,442.65
Restricted fund
-
**Total Funds carried forward**
**208,442.65**|**2022**
**£**
865.00
-
143,659.00
-
1,928.16|
||**145,587.16**|
||-
-|
||-|
||145,587.16|
||**146,452.16**|
||-
**-**|
||**146,452.16**|
||146,452.04
-|
||**146,452.04**|
Approved by the Board of Trustees on ……..October, 2024 and signed on their behalf by
Pastor Patrick Babalola **Chair, Board of Trustees**
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Notes to the Financial Statements for the year ended 31 December 2023**
|**1. Incoming resources**
Tithes
Offering
Thanksgiving
First fruit
Seed
Gift aid
Other income
**2. Resources expended**
Direct Expenses
Advertising & Marketing
Audit & Accountancy fees
Bank Fees
Charitable and Political Donations
Cleaning
Consulting
Council tax
Entertainment
Fuel
General Expenses
Honorarium
Hospitality/Welfare
Hotel and accommodation
Insurance
IT Software and Consumables
Light, Power, Heating
Motor Vehicle Expenses
Postage, Freight & Courier
Printing & Stationery
Remittances
Rent
Repairs & Maintenance
Salaries
Telephone & Internet
Travel - National|**Unrestricted Restricted**
**Total**
**Fund**
**Fund**
**2023**
**2022**
**£**
**£**
117,400.68
0.00 117,400.68 111,622.60
45,581.22
0.00
45,581.22
27,584.32
5,383.22
0.00
5,383.22
8,692.53
2,242.00
0.00
2,242.00
5,613.75
174.84
0.00
174.84
3,380.00
31,175.36
0.00
31,175.36
0.00
4,902.75
0.00
4,902.75
4,314.70|
|---|---|
||**206,860.07**
**0.00**
**206,860.07**
**161,207.90**|
||2,319.71
0.00
2,319.71
4,610.66
420.00
0.00
420.00
300.00
1,440.00
0.00
1,440.00
1,820.16
36.00
0.00
36.00
0.00
1,500.00
0.00
1,500.00
750.00
1,252.05
0.00
1,252.05
0.00
27,999.96
0.00
27,999.96
13,999.98
2,814.60
0.00
2,814.60
2,739.20
860.84
0.00
860.84
0.00
3,888.83
0.00
3,888.83
543.09
7,056.05
0.00
7,056.05
37,699.74
1,350.00
0.00
1,350.00
3,005.00
4,441.54
0.00
4,441.54
2,528.58
2,956.99
0.00
2,956.99
107.10
3,062.30
0.00
3,062.30
888.05
7,850.00
0.00
7,850.00
0.00
1,300.00
0.00
1,300.00
0.00
4,460.60
0.00
4,460.60
2,099.00
220.00
0.00
220.00
295.00
2,807.49
0.00
2,807.49
35.99
33,823.12
0.00
33,823.12
6,450.00
25,080.00
0.00
25,080.00
15,000.00
3,040.00
0.00
3,040.00
0.00
0.00
0.00
0.00
14,461.10
1,913.24
0.00
1,913.24
4,129.65
2,976.14
0.00
2,976.14
163.72|
||**144,869.46**
**0.00**
**144,869.46**
**111,626.02**|
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Notes to the Financial Statements for the year ended 31 December 2023**
|**3. Net incoming/(Outgoing) resources**
This is stated after charging:
Depreciation
Accountancy service
4. Tangible fixed assets
Cost:
At 1 January 2023
Addition
At 31 December 2023
Depreciation:
At 1 January 2023
Addition
At 31 December 2023
Net book value:
At 01 January 2023
At 31 December 2023|**2023**
**£**
0
1,440
2023
£
Computer
Equipment
£
4,844
0
4,844
0
0
0
6,794
6,794|**2022**
**£**
0
1,820
2022
£
Office
Equipment
£
1,950
0|
|---|---|---|
|||1,950|
|||0
0|
|||0|
||||
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Notes to the Financial Statements for the year ended 31 December 2023**
|**5. Prepayment**
Rent Church office
Debtors
**6. Cash and Bank**
Community account
Current account
**7. Funds of the Charity**
Opening balance
Prior year adjustments
Unrestricted|**2023**
**£**
0
0
**0**
**£**
175,129
78,939
**254,068**
**£**
146,452
0
61,991
**208,443**|**2022**
**£**
0
0|
|---|---|---|
|||**0**|
|||**£**
0
0|
|||**0**|
|||**£**
111,664
(5,602)
40,390|
|||**146,452**|
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## **THE REDEEMED CHRISTIAN CHURCH OF GOD: POWER CONNECTIONS**
## **Independent Examiner's Report to the trustees of RCCG Power Connections**
I report on the accounts for the year 31 December, 2023 which are set out on pages 5 to 9.
## **Respective responsibilities of trustees and examiner**
The Church's trustees are responsibilities for the preparation of the accounts. The church'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 CharitiesAct), to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
to state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
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 include consideration of any unusual items or disclosures in the accounts, and seeking explanations from trustees concerning any such matters. The procedures undertaken do not provide all the evidence that be required in an audit, and consequently no opinion is given as to whether the accounts presents a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s statement**
In the course of my examination, no matter has come to my attention:
1. which give me reasonable cause to believe that in, any material respect, the requirements a. to keep accounting records in accordance with section 130 of the Charities Act; and b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 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.
Matthew Odu **Practical Advice Consulting Limited** 1000 Great West Road, Brentford London. TW8 9DW.
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