THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
Charity Registered Number: 1144053
Company Registered Number: 07783611
TRUSTEES’ REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
0
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| CONTENTS | |
|---|---|
| Page | |
| Trustee's Report | 3-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance sheet | 9-10 |
| Notes to the Accounts | 11 – 17 |
1
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
General Overseer: Pastor E A Adeboye Trustees/Directors; Mr Hassan Olayemi Tajudeen (Chairman) Mr Akintayo Daniel Aiyegbusi (Secretary) Mrs. Funmilola Gbadeyan (Treasurer) Secretary Pastor Stephen Adekoya Pastor in Charge: Pastor Stephen Adekoya Charity registered number: 1144053 Company registered number: 07783611 Worship Center: 228A-234A Heathway Dagenham, Essex, RM10 8QS Registered office: As above Banker: Lloyds Bank Independent Examiner: JOS Accountants Limited Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom
2
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees who are also the Directors of RCCG Open Heavens Sanctuary present their report and Financial Statements for the year ended 31st December 2024 which have been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in October 2000 and Revised SORP 2005.
Structure, Governance and Management
a. CONSTITUTION
The church is constituted under a Trust deed and is a registered charity with charity registration number 1144053 and constitutes a limited company, limited by guarantee as defined by Companies act 2006.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
New trustees are elected based on the contribution that they will make to the governance of the organization and the skills that they will bring into the life of the charity. They are provided with copies of the Charity Commission's guidance to trustees and introduced the activities of the charity by the existing board.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Existing trustees are provided with training as and when required.
d. ORGANISATIONAL STRUCTURE AND DECISION MAKING The board of Trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. The charity has four paid employees and 65 other voluntary workers. The Trustees are responsible for making all decisions regarding allocation of fund and activities. The day-to-day administration of the church is managed by the Company Secretary/Parish Pastor who liaises with the board as need may arise.
e. RELATED PARTY RELATIONSHIPS
Open Heavens Sanctuary is a parish of The Redeemed Christian Church of God - a network comprised of parishes all over the world. There is an agreement of common purposes entered by Open Heavens Sanctuary with The Redeemed Christian Church of God which documents this relationship.
Objectives and Activities
a. POLICIES AND OBJECTIVES
The Redeemed Christian Church of God Open Heavens Sanctuary is a parish of the Redeemed Christian Church of God. Our aim is to excel in every aspect of our Mission, whilst at the same time continually maintaining transparency and proper accountability
The charity's objects are: 1 The advancement of the Christian faith worldwide; 2 To evangelise in the power of Holy Spirit
3 The relief of poverty. Towards the achievement of these objects, the charity operates a Christian worship centre at 228A-234A Heathway, Dagenham, Essex, RM10 8QS; and organising various events to promote Christian faith and to reach out, in love, to the community at large.
3
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 CONT’D
b. GRANT MAKING POLICIES
Grants are made to other charitable bodies. The church supports missionary organizations such as the Festival of Life and the World Evangelical Mission, and other missions and projects within and outside the UK.
c. VOLUNTEERS
The charity is most appreciative of the unflinching support of its volunteers ( whose number now stands at 85 ) who tirelessly help in the provision of service. It is therefore with gratitude to God that we once again report a robust membership giving which has significantly impacted once again on our reported figures for the year. We are pleased and thankful for their continuous commitment and support. Members’ contribution accounted for most of our gross income. The church maintains her core objectives as well as the overall focus of the Redeemed Christian Church of God as a Mission.
d. RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed, particularly those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposures to the major risks.
Achievements and performance
During the year we continue to improve on our online presence and have established a viable media department whose sole responsibility is to drive the quality of our online services and people engagement. I am happy to let you know that we have tremendous breakthrough online and the group is now in the process of redesigning our website to further improve on our online presence and virtual services.
We also experience increase in membership and worshipers as a result of the migration of people into the United Kingdom.
We organized and held a second data analysis training program for the church members and the community, and this edition was done online to accommodate more people.
The financial situation of the church has become stable and our donor giving has improved greatly and we are supporting our employees and some of them will get increase in salaries in the next tax year, because of the increase in the cost of living.
Trustees are pleased to report that the Church continued to be successful in every way both spiritually and in general wellbeing of its members and worshippers.
4
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 CONT’D
Review of the Accounts
| Gross Income Net movement of funds Net book value |
2024 £ 267,467 31,499 266,424 |
2023 £ 261,526 63,677 234,925 |
|---|---|---|
Future Development Plans
The charity aims to build on its current achievement in effectively spreading the ethos, of love and hope that Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all. In order to achieve this, we will continue to embark on different community projects and opening our premises for like-minded people who will love to help us in achieving our aim and we will also be looking at various avenue to generate funds in addition to the good will donations of our service users.
We are still in search for a larger and a more permanent place of worship due to the constant increase in the membership and worshipers particularly on Sundays which is our major meeting day, our current premises is becoming too small to accommodate us. The possible regeneration coming to Dagenham Heathway, which we reported last year, we understand has been place on hold due to lack of sufficient funds for the project.
5
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 - CONT’D
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the Church and of the surplus or deficit of the Church for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Church will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner
The Trustees appointed JOS Accountants, a firm of Accounting & Management Consultants, as the Charity’s independent examiner. A resolution for re-appointment as independent examiner will be proposed during the Trustees meeting for the year.
This report was approved by the trustees and signed on its behalf by:
21/07/2025
-------------------------------------------------} Sign & Date
Mr Olayemi Tajudeen Hassan (Chairman)
6
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
INDEPENDENT EXAMINERS REPORT
We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes, and the accounting policies of The Redeemed Christian Church of God Open Heavens Sanctuary for the year ended 31st December 2024.
Respective responsibilities of trustees and independent examiner
As described earlier, the trustees are responsible for the preparation of the financial statements. It is my responsibility to carry out an examination of those financial statements and to issue a report based on that examination.
Scope of examination
We conducted our examination in accordance with directions given by the Charity Commissioners under section 43(7)(b) of the Charities Act 1993. An examination is limited to enquiries of the charity's personnel and analytical and review procedures applied to financial data and this provides less assurance than an audit. We have not performed an audit, and accordingly, we do not express an audit opinion.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
-
Which gives me reasonable cause to believe that in any material respect the requirements:
-
To keep accounting records in accordance with section 41 of the Act; and
-
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
-
To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
14/08/2025
------------------------------------------ (signed and dated)
JOS Accountants Limited Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom
7
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| GROSS INCOME Donations and legacies EXPENDITURE ON: Total charitable activities Governance costs Excess Income Prior-year adjustment Funds brought forward |
NOTES 2 6 7 |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 267,467 - 267,467 261,526 |
|---|---|---|
| 235,017 - 235,017 196,655 951 - 951 1,194 |
||
| 235,968 - 235,968 197,849 31,499 - 31,499 63,677 - - - - 234,925 - 234,925 171,248 |
||
| 266,424 - 266,424 234,925 |
The financial statement and notes thereon form an integral part of the accounts
8
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
| BALANCE SHEET AS AT 31 DECEMBER 2024 Assets: NOTES Fixed Assets 8 Rent deposit Current assets Debtors and receivables 9 Cash & bank Creditors: Amount falling due within one year 10 Net working capital Financed by: General funds Creditors- Long term (BBL) |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 154,836 - 154,836 179,773 10,000 - 10,000 10,000 |
|---|---|
| 164,836 - 164,836 189,773 |
|
| 20,374 -20,374 20,196 90,266 - 90,266 42,680 |
|
| 110,640 -110,640 62,876 |
|
| - - - 600 |
|
| 110,640 - 110,640 62,276 |
|
| 275,475 - 275,475 252,049 |
|
| 266,424 - 266,424 234,925 9,051 - 9,051 17,124 |
|
| 275,475 - 275,475 252,049 |
The balance sheet and notes thereon form an integral part of the accounts
9
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
BALANCE SHEET AS AT 31 DECEMBER 2024 CON’D
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
21/07/2025 -------------------------------------------------------------------} Sign & Date Mr Olayemi Tajudeen Hassan - Chairman BOT/Director
17/07/2025 -------------------------------------------------------------------} Sign & Date Mrs. Funmilola Gbadeyan (Treasurer)
10
THE REDEEMED CHRISTIAN CHURCH OF GOD OPEN HEAVENS SANCTUARY
NOTES TO THE MANAGEMENT ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting Policies:
The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (“SORP 2000 and SORP 2005”) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below.
a) Basis of Preparation of Financial Statements
The financial statements are prepared under the historic cost convention and include the results of the Charity's operations, which are described in the Trustees Report, all of which are continuing.
b) Comparative Figures
Comparative figures are shown on the statement of Accounts of the charity.
c) Incoming Resources
All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.
d) Restricted funds
The restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs.
e) Unrestricted Funds
Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds.
f) Resources Expended
Direct Charitable Expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives.
Governance expenditure includes all costs not directly related to the Charitable activities and cannot be allocated to direct charitable expenditure.
g) Donated Services and Gifts in Kind
The value of donated services and gifts in kind provided to the charity is recognised in the statement of financial activities and in the Balance Sheet at their value to the charity, as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.
f) Tangible fixed assets
Depreciation is provided on a straight line basis at the following annual rates in order to write off each asset over its estimated useful life. Leasehold Property Refurbishment -5% Fixtures and fittings -20% Computer hardware 20%
g) Taxation
The charity is exempt from corporation tax on its charitable activities.
11
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
NOTES TO THE ACCOUNTS ENDED
31 DECEMBER 2024 CONT'D
Detailed analysis of income and expenditure for the year ended 31 December 2024 as required by the SORP 2015
| NOTES 2 Donations, grants and legacies Tithe Offering Thanksgiving Building support Other pledges First Fruits Offerings YAYA Offerings Seed Offerings Missionary Support RCCG Camp UK Gift aid Other Donations Other Incomes Mission To Europe Insurance Claim |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 110,874 - 110,874 101,409 32,931 - 32,931 34,330 14,469 - 14,469 12,082 14,243 - 14,243 15,537 7,435 - 7,435 27,408 1,332 - 1,332 2,403 123 - 123 2,218 571 - 571 3,062 320 - 320 220 - - - 3,305 32,675 - 32,675 28,567 5,332 - 5,332 5,783 35,095 - 35,095 25,201 1,200 - 1,200 - 10,867 - 10,867 - |
|---|---|
| 267,467 - 267,467 261,526 |
12
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
NOTES TO THE ACCOUNTS ENDED
31 DECEMBER 2024 CONT'D
| NOTES 3 4 |
Charitable activities-Direct spending Outreach, advert and promotion Mission Support Honorarium Welfare Entertainment & Hospitality Vicarage Allowance Pastor Thanksgiving Allowances Training Choir & Music Expenses Accommodation and Meals Charitable activities-Grant funding activities RCCG -Central Office WEM & COF Other Charities |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 3,030 0 3,030 750 197 - 197 1,575 600 - 600 550 4,100 - 4,100 4,006 4,788 - 4,788 3,311 7,700 - 7,700 5,600 5,076 - 5,076 7,079 440 - 440 261 7,179 - 7,179 - 1,896 - 1,896 - |
|---|---|---|
| 35,005 - 35,005 23,132 |
||
| 19,242 - 19,242 25,778 3,500 - 3,500 1,170 |
||
| 22,742 - 22,742 26,948 |
13
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
| NOTES 5 |
NOTES TO THE ACCOUNTS ENDED 31 DECEMBER 2024 CONT'D Support costs for charitable activities Premises & administrative costs Rent & rate Printing, stationery and Postage Telephone & Communication General church running expenses Travel expenses Utilities Insurance Repairs Web Hosting Accountancy Fees Computer Software Media expenses Toiletries And Cleaning Audio And Sound Equipment Subscription Net Salary Expense PAYE/NI Expense Pension (Personal/Stakeholder) Motor Expenses Mobile phone Legal and Professional Fees Depreciation |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 22,450 - 22,450 22,000 278 - 278 2,183 825 - 825 2,078 213 - 213 355 8,839 - 8,839 2,601 5,515 - 5,515 4,972 3,771 - 3,771 2,601 16,619 - 16,619 1,320 - - - 350 648 - 648 - 123 - 123 759 - - - 642 1,215 - 1,215 1,342 - - - 2,272 2,738 - 2,738 785 68,701 - 68,701 68,069 7,317 - 7,317 7,365 3,334 - 3,334 3,525 3,248 - 3,248 1,332 281 - 281 - 539 - 539 244 30,615 - 30,615 22,043 |
|---|---|---|
| 177,270 - 177,270 146,836 |
14
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
NOTES TO THE ACCOUNTS ENDED
31 DECEMBER 2024 CONT'D
| 31 DECEMBER 2024 CONT'D | ||
|---|---|---|
| NOTES 6 7 |
Total charitable expenditure Direct spending Grantmaking activities Support costs Other expenditure-governance costs Independent examination Interest on Loan |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 35,005 - 35,005 23,132 22,742 - 22,742 26,948 177,270 - 177,270 146,836 |
| 235,017 - 235,017 196,916 |
||
| 600 - 600 465 351 - 351 729 |
||
| 951 - 951 1,194 |
15
THE REDEEMED CHRISTIAN CHURCH OF GOD
OPEN HEAVENS SANCTUARY
NOTES TO THE ACCOUNTS ENDED
31 DECEMBER 2024 CONT'D
| NOTES 8 Fixed assets Costs 1 January 2024 Addition during the year Depreciation As at 1 January 2024 Charged for the year Net Book Value 31st December 2024 31st December 2023 |
Building Renovation £ 260,577 - |
Office Equipment £ 53,628 1,431 |
Computer Hardware £ 9,106 4,246 |
Motor Vehicle Total £ £ 19,519 342,830 - 5,677 |
|
|---|---|---|---|---|---|
| 260,577 | 55,059 | 13,352 | 19,519 348,507 |
||
| 116,860 13,029 |
40,472 11,012 |
1,821 2,670 |
3,904 163,057 3,904 30,615 |
||
| 129,889 | 51,484 | 4,492 | 7,808 193,672 |
||
| 130,688 | 3,575 | 8,861 |
11,711 154,836 |
||
| 143,717 | 13,156 | 7,285 | 15,615 179,773 |
| 9 Debtors & receivables Gift aid receivable Members balances Other debtors |
Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ 1,533 - 1,533 8,446 13,600 - 13,600 11,750 5,241 5,241 |
|---|---|
| 20,374 - 20,374 20,196 |
| 10 Creditors: Amount falling due within one year Accrual |
- - - 600 |
|---|---|
| - - - 600 |
16