**RCCG KINGDOM LIFE CHAPEL LIMITED**
## **Registered No: 06603584**
-
## **Charity No: 1144260**
**FINANCIAL STATEMENTSFOR THE YEAR ENDED 31st May 2021**
## RCCG KINGDOM LIFE CHAPEL LIMITED
> • **Company Information**
**Directors Mr Ramon Ayodele Ajiboye Mr Adeboye Sanusi Mr O S B Odetola Mr Kolawole Aboderin**
**Company number** 06603584
**Charity number** 1144260
**Principal Address 287 Fore Street**
**Edmonton London N90PD**
**Accountants Kashcom Limited**
**(Accountants) 5 London BUSHEY WD23 2LD**
**Bankers HSBC**
**South Mall Edmonton London N9 0QU**
**Page1**
**RCCG KINGDOM LIFE CHAPEL LIMITED**
**Contents •** Page Information 1 Contents[2] 3 Trustees Report 4 Ind Examiner’s Report 5 Statement of Financial Activities 6-7 Balance Sheet 8-12 Notes to the Accounts
Page 2
## RCCGKINGDOMLIFECHAPELLIMITED
Report of the Trustees for the year ended 31May 2021
The trustees submitted their report and the financial statements for the year ended 31 May 2021. The trustees have a d o p t e d the provisions of the
Statement of Recommended Practice (SORP) "Accounting and R epo rti ng by Charities in preparing the annual report and accounts for this charitable organization.
The list of trustees a r e as follows:
1 Mr Kolawole Aboderin
2 Mrs O M Sanusi
3 Mr S B Odetola
## Objectives of the Charity
The object of RCCG Kingdom Life Chapel Ltd is to advance the Christian religion and to promote all spiritual teaching and doctrines of the same; and in furtherance of this object. The church has powers as follows: -To congregate and worship God i n an approved Christian manner
-To promote the knowledge and doctrine of Christianity as contained in the Holy Scriptures
-To support and subscribe to any charitable institution or purpose in the
furtherance of the church's objectives
-To pay for any property, rights, privileges or concessions acquired by the church
-To consecrate water and oil for members and other believers for complete
healing from all types of serious illness and diseases
-To promote or assist in the promotion of ecclesiastical organization
## Business review and future developments
The statement of financial activities shows a loss for the year of £-12,393.14 and the accumulated funds stands at £266080.30.
During the period ended 31th May 2021 the Charity was able to engage in some activities which included: youth children development, Sunday school classes, youth seminars, children Bible quiz and summer recreation activities; including marriage and family counseling; and organized revival activities in the Church, inviting people within the community and guest speakers.
The C hari ty intends to continue with the activities embarked upon i n the previous years and engage itself in some capital projects. The p r o j e c ts will contribute immensely to the growth of the Charity and will give us greater opportunity to meet the set objectives of the ministry.
•
## Statement of Trustee Board Responsibilities
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
The Charities Act requires the trustee to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the charity In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently, Make judgments and estimate that are reasonable and prudent.
Prepare the financial statement on the going concern basis unless it
is inappropriate to presume that the charity will continue In
operation.
The trustees are responsible for maintaining proper accounting records of the church. They are to ensure that the accounts are accurate and reflect the reality concerning the outlays on activities undertaken by the church.
The boards of trustees are also responsible for safeguarding the assets of the charity and hence for taking steps for prevention and detection of fraud and other Irregularities.
Each of the trustees has confirmed that, there is no relevant information of which the company's independent examiner are unaware, that are necessary for their report
We thank all individuals and members who have given up their valuable time to assist us with the activities during the year and also the contributors for the contributions received during the year·
Kolawole Aboderin
···.......·.........Signed on behalf of the Board of Trustee
## RCCG KINGDOM LIFE CHAPEL
- Independent examiner’s report to the trustees of the charity
I report on the accounts for the year ended 31st May 2021 set out on pages five to twelve.
Respective responsibilities of trustees and examiner The charity's trustees (who are also the director's 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 144(2)0f the Charities Act 2011(the2011Act)
And that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under Company law and is eligible for independent examination, itis my responsibility to:
- examine the accounts under Section 145of the 2011 Act
- to follow the procedures laid down in the General Directions
given by the Charity Commission{underSection145(S)(b)ofthe2011Act);and
- 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 our view 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 Section386 and 387of the Companies Act 2006; and to prepare accounts Which accord with the accounting records, comply with the accounting requirements of Sections394 and 395of the Companies Act 2006 and with the methods and principles of the Statement of Recommendation 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 account to be reached,
## **RCCG KINGDOM LIFE CHAPEL LIMITED**
## STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 31ST MAY 2021
|STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 31ST MAY 2021||||||
|---|---|---|---|---|---|
|||UNRESTRICTED|RESTRICTED|2020/21|2019/20|
|Note||FUNDS|FUNDS|TOTAL|TOTAL|
|||£|£|£|£|
|INCOMING RESOURCES||||||
|**Voluntary Income**|**1**|148192.00||148192.00|148697.93|
|Other Income||||||
|Total Incoming Resources||148192.00||148192.00|148697.93|
|**RESOURCES EXPENDED**||||||
|Cost of Generating Funds||||||
|Contracts & Grants|**2**|20950.01||20950.01|24149.13|
|Charitable Activities|**3**|259.97||259.97|15017.16|
|Governance Cost|**4**|139375.16||139375.16|114949.4|
|Total Resources Expended||160585.14||160585.14|154115.69|
|Net Incoming /Outgoing Expenses||||||
|Total Fund Brought Forward||-12393.14||-12393.14|-5417.72|
|Total Fund Carried Forward||266080.28||266080.3|271498|
|||253687.14||253687.14|266080.28|
•
## RCCG KINGDOMLIFECHAPELLIMITED
Balance Sheet
(continued) AS AT 31st MAY 2 0 2 1
## Directors statements required by
Companies Act 2006 for the year ended 31st May 2021
In approving these financial statements as director of the company, we hereby confirm.
(a)that for the year stated above the company was entitled to the exemption conferred by Section477(1)of the Companies Act 2006;
(b)that the members are not required the company act to obtain an audit in accordance with section 476 of the Companies Act 2006;
(c)that we acknowledge our responsibilities for.
(1)ensuring that the company keeps accounting records which comply with Section 381 and
(2)preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of the financial year end of its profit or loss for the year then ended in accordance with the requirements of Section393 and which otherwise comply with the provisions of the Companies Act relating to financial statements,
These financial statements are prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements are prepared by the Board on the 31st of May 2021 on behalf of the directors and signed
Mr Kolawole Aboderin
## Director
•
## RCCG KINGDOM LIFE CHAPEL. LIMITED
Notes to the accounts
For the year ended 31[st] May 2021
## Accounting policies
## Accounting convention
The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE which have been applied consistently.
## 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 operation, which are described in the Trustees Report, all of which are continuing.
## b) Comparative Figures
These are the balances for the previous year, figures of which are disclosed beside the current year balances.
## c) Income Resources
All income is credited to the Statement of Financial Activities on the earlier dates of when they are received or when they are receivable.
## d)Restricted Funds
Restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, is 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
- Contract & Grants are donations made to the RCCG Headquarters according to the existing contractual agreement. Other grants include donations made to other charities and Individuals, in furtherance of RCCG Kingdom Life Chapel Limited's charitable objects.
Direct Charitable Expenditure includes all expenditures incurred by the Charity indirect pursuit of its charitable objectives.
Governance Costs 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 RCCG Kingdom Life Chapel is recognised in the statement of financial activities and in Balance Sheet at their value, as determined by Financial Department, in the period in which they are receivable, and where the benefit is both quantifiable and material.
h) Tangible Fixed Assets
Tangible fixed assets with a value exceeding £100 are recognised in the balance sheet at cost less depreciation calculated at the rates intended to write off the excess of cost over anticipated residual value of the assets over their estimated useful economic lives.
Full year depreciation is charged in the year of acquisition, irrespective of the date of purchase, and no depreciation is charged in year asset is disposed of. The following rates are used except where the asset is on finance lease where the lower of the period of repayment and the useful life is applied.
Land & Building Motor Vehicle Equipment
25% on straight line method
25% reducing balance method 25% reducing balance method
**RCCG KINGDOM LIFE CHAPEL LIMITED**
## **BALANCE SHEET**
## **AS AT 31ST MAY 2021**
|**Notes**
Fixed Asset
Tangible Fixed Asset
**5**
**Current Assets**
Debtor
Bank & Cash
**Current Liabilities**
Creditors: Amount due
within One year
**6**
**Net current assets**
Creditors : Amounts falling due
after more than one year
Net asset
**FUNDS**|**UNRESTRICTED**
**RESTRICTED**
**2020/21**
**2019/20**
**FUNDS**
**FUNDS**
**TOTAL**
**TOTAL**
**£**
**£**
**£**
**£**
2248.52
2248.52
27257.81|
|---|---|
||2248.52
2248.52
27257.81|
||260688.14
260688.14
245682.47|
||260688.14
260688.14
245682.47|
||-9250.00
-9250.00
-6860.00|
||-9250.00
-9250.00
-6860.00|
|||
||253686.66
253686.66
266080.28|
|||
||253686.66
253686.66
266080.28|
|||
||**253687.14**
**253687.14**
**266080.28**|
## **RCCG KINGDOM LIFE CHAPEL LIMITED**
|**1. INCOMING RESOURCES**
**Voluntary Income**
Main Offering
Tithe
Thanksgiving
Others
Total Incoming Resources
Other Income
Bank Interest
Total Incoming Resources|**UNRESTRICTED**
**RESTRICTED**
**2020/21**
**2019/20**
**FUNDS**
**FUNDS**
**TOTAL**
**TOTAL**
**£**
**£**
**£**
**£**
17558.98
17558.98
13548.22
73475.36
73475.36
91869.21
5747.46
5747.46
9991.32
12087.61
12087.61
33289.17|
|---|---|
||108869.42
108869.42
148697.93|
||39322.58
39322.58
0|
|||
|||
||148192.00
148192.00
148697.93|
## **RCCG KINGDOM LIFE CHAPEL LIMITED**
|**2 Contracts & Grants**
Gift to Visiting Minister
Gift & Grant to Individuals
Area & Central Office Support
**3 Charitable Activities**
Special Programme
Evangelism
Conferences & Seminars
**4 Governance Cost**
Salary & Wages
Rent & Rates
Repairs / Maintenance
Telephone
Heating & Lighting
Travelling Expenses
Motor Expenses
Printing & Stationery
Refreshments
Accountancy Fees
Legal & Professional Fees
Consultancy Fees
Insurance
Bank Charges
Computer Expenses
Training
Cleaning Expenses
Sundry Expenses
Depreciation
Charities|**UNRESTRICTED**
**RESTRICTED**
**2020/21**
**2019/20**
**FUNDS**
**FUNDS**
**TOTAL**
**TOTAL**
**£**
**£**
**£**
**£**
3201.29
3201.29
11823.05
1096
1096
4165.12
16652.72
16652.72
8160.96|
|---|---|
||20950.01
20950.01
24149.13|
||259.97
259.97
8717.5
0
6299.66|
||259.97
259.97
15017.16|
||19500
19500
19463.3
130
130
0
39405.19
39405.19
263
1474.96
1474.96
1028.76
3501.13
3501.13
3434.02
0
11590
295
295
2190.49
490
490
2218.47
599.34
599.34
9115.33
0
2735.93
1953.84
1953.84
1604.52
23400
23400
23850
1990.18
1990.18
2566.98
872.19
872.19
881.88
99.8
99.8
314.58
1093.99
1093.99
0
3928.91
3928.91
4235.37
10538.83
10538.83
7889.23
25009
25009
20007
5092.8
5092.8
1560.5|
||139375.16
139375.16
114949.36|
## **RCCG KINGDOM LIFE CHAPEL LIMITED**
|**5 FIXED ASSET**
**Fixed Asset Schedule**
At 1st Jun 2020
Additions during the year
At 31 May 2021
Depreciation
At 1st Jun 2020
Charge for the year
Net Book Value
Disposal
At 31 May 2021
At 31 May 2020
**6 Current Liabilities**
Accruals
Other taxes and social securities
Other creditors|**Leasehold Land &**
**Motor**
**Building**
**Vehicle**
36954
35473|**Other**
**Equipment**
54868|**2020/2021**
**Total**
£
127295|
|---|---|---|---|
||36954
35473|54868|127295|
||5156
41273
1289
10318|53608
13402|100037
25009|
||6445
51592|67009|125046|
|||||
||30509
-16119|-12141|2249|
|||||
||31798
-4500|1261|27258|
|||2019/20
£
950
410
5500
6860|2020/21
£
1150
600
7500|
||||9250|