RCCG KINGDOM LIFE CHAPEL LIMITED
Company Information Directors Odetola Olugbenga Samuel Babatunde Aboderin Kolawole Evanson John Jeriel Adebowale Olanrewaju Taoreed Company number 06603584 Charity number 1144260 Principal Address 287 Fore Street Edmonton London N9 0PD Accountants Kashcom Limited (Accountants) 331 St Albans Road West Hatfield AL10 9RN Bankers HSBC South Mall Edmonton London N9 0QU Page1
RCCG KINGDOM LIFE CHAPEL LIMITED
Registered No: 06603584
Charity No: 1144260
TRUSTEE’S REPORTS & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st May 2025
RCCG KINGDOM LIFE CHAPEL LIMITED
Contents Page Information 1 Contents 2 Trustees Report 3 Ind Examiner's Report 4 Statement of Financial Activities 5 Balance Sheet 6-7 Notes to the Accounts 8-12
RCCG KINGDOM LIFE CHAPEL LIMITED
Report of the Trustees for the year ended 31 May 2025
The Trustees, who are also Directors for the purpose of Company Law, are pleased to present the annual report for the purposes of Charities Act 2011 and sections 415 to 419 of the Companies Act 2006, together with the accounts for the period ended, 31st May 2025. The Trustees have adopted the updated provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102), in preparing the annual report and financial statements of the Charity .
STRUCTURE GOVERNANCE AND MANAGEMENT
Rccg Kingdom Life Chapel is a charitable company limited by guarantee, It has a non-charitable subsidiary company, Rccg Kingdom Life property Limited. It is governed by its Memorandum and Articles of Association and is managed by the Board of Trustees. Decisions are made by a simple majority vote by the Trustees who set the strategic direction of the Charity. Trustees are selected based on the contributions they will make to the governance of the organisation, and the skills they possess. They are provided with copies of the Charity Commission’s Guidance. Additional information and training are also provided as at when required. Delegated authority has been given to the Pastor and Office Staff for the day-to-day running of the operations of the Charity.
OBJECTIVES AND ACTIVITIES
The object of the organisation is to facilitate the advancement of the Christian faith worldwide through
religious activities in accordance with the doctrines set out in the statement of faith of the Redeemed
Christian Church of God.
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 in 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
ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT
The Charity continued to provide invaluable financial and administrative support to the Festival of Life prayer event held bi-annually in London and in other regions in the United Kingdom.
• The Charity continues to provide substantial financial support to other charities (locally, nationally and internationally) operating within its objective. It provided practical and financial assistance to members and the local community who are finding it difficult to make ends meet.
• The Charity provides a food distribution service for those in need within the Borough.
PLANS FOR FUTURE PERIODS
The Charity seeks to provide services and activities that meet the needs of people in the community. These activities provide a positive change in the moral and spiritual climate of the local borough which reflects the charity’s Christian ethos and beliefs.
TRUSTEES RESPONSIBILITIES STATEMENT
The Trustees, who are also Directors for the purpose of Company Law, are responsible for preparing the Trustees' Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which gives a true and fair view of the situation of the company and of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:
• select suitable accounting policies and apply them consistently
. • make judgements and estimates that are reasonable and prudent.
• prepare the financial statements on a regular basis, unless it is inappropriate to presume that the company will continue in business
. • state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. Observe the methods and principles in the Charities Statement of Recommended Practice (SORP). The Trustees are responsible for keeping proper accounting records which discloses with reasonable accuracy at any time; the financial position of the company and it also enables them to ensure that the financial statements comply with the Companies Act 2006. Furthermore, they are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Thus far as the Trustees are aware:
• there is no relevant audit information of which the company’s internal auditors are unaware of; and
• The Trustees have taken the necessary steps to make themselves aware of any relevant audit information and have established that the internal auditors are aware of such information. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s (i.e., organisation’s) website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The lists of trustees are as follows:
Odetola Olugbenga Samuel Babatunde
Aboderin Kolawole
Evanson John Jeriel
Adebowale Olanrewaju Taoreed
Signed on behalf of the Trustees…
Kolawole Aboderin 06/04/2026
Business review and future developments
The statement of financial activities shows a profit for the year of £13,762.69 and the accumulated funds stands at £204,654.90
During the period ended 31th May 2025 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 counselling; and organized revival activities in the Church , inviting people within the community and guest speakers.
The Charity intends to continue with the activities embarked upon in the previous years and engage itself in some capital projects. The projects will contribute immensely to the growth of the Charity and will give us greater opportunity to meet the set objectives of the ministry.
RCCG KINGDOM LIFE CHAPEL
Independent examiner's report the trustees of the charity
Independent Examiner’s Report to the Members, Trustees and the Parochial Church
Council of Redeemed Christian Church of God (RCCG) Kingdom Chapel limited.
I report on the accounts for the year ended 31st May 2025 which are set out on the treasurer’s Receipt
& payment reports for the year ended 31st May 2025.
Respective responsibilities of Trustees and Independent Examiner
As trustees of RCCG Kingdom Chapel limited, the members and trustees are responsible for the
preparation of the receipt & payments Accounts. The members consider that an audit is not required
for this year (under section 144(2) of the Charities Act 2011, however an independent examination
will be required.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the General Directions given by the Charity Commission
under section 145(5)(b) of the 2011 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 church 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 explanation
The procedures adopted or applied in this case do not provide all the evidence that would be required
in an audit if applicable, and consequently I do not express an audit opinion on the Receipt &
payments accounts independently examined.
Independent Examiner's statement
In connection with my examination, no material matters have come to my attention:
1. which give me reasonable concern to believe that in any material respect, the members have
not met the requirements laid by the charity commission, which is,
To keep accounting records in accordance with section 130 of the 2011 Act; and
To prepare accounts in accordance with the accounts records and to comply
with the accounting requirements of the 2011 Act.
Marcelli Chinagorom-Oguh (FCMI FAIA FCIPA FFA ChMgr)
Chartered Management Consultants, Accountants & Tax Advisers
06th April 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
Accounting policies
Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Income
The charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met
Expenditure
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties
Governance costs: Governance costs comprise the costs associated with the governance arrangements of the charity and include audit fees, legal advice (if any) for trustees, costs associated with constitutional and statutory requirements and any costs associated with the strategic as opposed to the day to day management of the charity’s assets.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.
Tangible fixed assets and depreciation
Tangible fixed assets, with an individual purchase price of £2,000 or more, are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Motor vehicles - 25% Straight Line
Fixtures and fittings -20% Reducing Balance
Office equipment -25% Reducing Balance
Stock
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads
Debtors
Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value
Liabilities and provisions
Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Pension
The charity operates an automatic enrolment plan for the benefit of its employees. Contributions are expensed as they become payable
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or raised by the charity for particular purposes.
The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements, Investment income, gains and losses are allocated to the appropriate fund.
Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
| RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | 2024/25 | 2023/24 | |||||||
| FUNDS | FUNDS | TOTAL | TOTAL | |||||||
| £ | £ | £ | £ | |||||||
| 1. INCOMING RESOURCES | ||||||||||
| Voluntary Income | ||||||||||
| Main Offering | 17571.60 | 17571.60 | 16452.77 | |||||||
| Tithe | 123001.20 | 123001.20 | 127052.73 | |||||||
| Thanksgiving | 35143.20 | 35143.20 | 2103.00 | |||||||
| Others | 0 | 0.00 | 4007.54 | |||||||
| Total IncomingResources | 175716.00 | 175716.00 | 149616.04 | |||||||
| Other Income | 18570.00 | 18570.00 | 24546.67 | |||||||
| Bank Interest | ||||||||||
| Total IncomingResources | 194286.00 | 194286.00 | 174162.71 | |||||||
Balance Sheet
(continued)
AS AT 31st MAY 2025
Directors statements required by Companies Act 2006 for the year ended 31st May 2025 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 Section 477(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 38' 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
10th of May 2025 on behalf of the directors and signed
Kolawole Aboderin
Director
| RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BALANCE SHEET | ||||||||||
| AS AT 31ST MAY 2025 | ||||||||||
| UNRESTRICTED | RESTRICTED | 2024/25 | 2023/24 | |||||||
| Notes | FUNDS | FUNDS | TOTAL | TOTAL | ||||||
| £ | £ | £ | £ | |||||||
| Fixed Asset | ||||||||||
| Tangible Fixed Asset | 5 | -142638.08 | -142638.08 | -82070.225 | ||||||
| -142638.08 | -142638.08 | -82070.22 | ||||||||
| Current Assets | ||||||||||
| Debtor | ||||||||||
| Bank & Cash | 325242.98 | 325242.98 | 255162.43 | |||||||
| 325242.98 | 325242.98 | 255162.43 | ||||||||
| Current Liabilities | ||||||||||
| Creditors: Amount due | ||||||||||
| within Oneyear | 6 | 22050.00 | 22050.00 | 17800.00 | ||||||
| 22050.00 | 22050.00 | 17800.00 | ||||||||
| Net current assets | 204654.90 | 204654.90 | 190892.21 | |||||||
| Creditors : Amounts fallingdue | ||||||||||
| after more than oneyear | ||||||||||
| Net asset | 204654.90 | 204654.90 | 190892.21 | |||||||
| FUNDS | 204654.90 | 204654.90 | 190892.21 |
| RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | 2024/25 | 2023/24 | |||||||
| FUNDS | FUNDS | TOTAL | TOTAL | |||||||
| £ | £ | £ | £ | |||||||
| 2 Contracts & Grants | ||||||||||
| Gift to VisitingMinister | 7046.24 | 7046.24 | 4396.25 | |||||||
| Gift & Grant to Individuals | 1600.00 | 1600.00 | 7941.93 | |||||||
| Area & Central Office Support | 13894.06 | 13894.06 | 17944.74 | |||||||
| 22540.30 | 22540.30 | 30282.92 | ||||||||
| 3 Charitable Activities | ||||||||||
| Special Programme | 840.00 | 840.00 | 4487.84 | |||||||
| Evangelism & S School | 1104.65 | 1104.65 | 2920.00 | |||||||
| Conferences & Seminars | 15346.34 | 15346.34 | 10974.49 | |||||||
| 17290.99 | 17290.99 | 18382.33 | ||||||||
| 4 Governance Cost | ||||||||||
| Salary& Wages | 60777.03 | 60777.03 | 50800.00 | |||||||
| Office andpremises costs | 3340.10 | 3340.10 | 0.00 | |||||||
| Repairs/Maintenance | 10221.32 | 10221.32 | 9264.35 | |||||||
| Telephone | 731.79 | 731.79 | 508.84 | |||||||
| Heating& Lighting | 6251.18 | 6251.18 | 3919.38 | |||||||
| TravellingExpenses | 4408.94 | 4408.94 | 4250.00 | |||||||
| PettyCash | 1494.80 | 1494.80 | 0.00 | |||||||
| Printing& Stationery | 254.54 | 254.54 | 88.99 | |||||||
| Refreshments | 7601.97 | 7601.97 | 13308.43 | |||||||
| AccountancyFees | 820.00 | 820.00 | 400.00 | |||||||
| Legal & Professional Fees | 384.00 | 384.00 | 2852.36 | |||||||
| Professional services | 849.00 | 849.00 | 0.00 | |||||||
| Insurance | 3088.69 | 3088.69 | 1419.35 | |||||||
| Bank Charges | 424.73 | 424.73 | 490.07 | |||||||
| Computer Expenses | 490.00 | 490.00 | 5680.19 | |||||||
| Training | 928.18 | 928.18 | 0.00 | |||||||
| CleaningExpenses | 3840.00 | 3840.00 | 3520.00 | |||||||
| SundryExpenses | 741.09 | 741.09 | 14635.11 | |||||||
| Subscriptions and memberships | 1425.61 | 1425.61 | 0.00 | |||||||
| Technical Expenses | 9656.73 | 9656.73 | 4417.46 | |||||||
| Welfare Expenses | 9662.48 | 9662.48 | 6548.70 | |||||||
| Payroll Expenses | 10318.54 | 10318.54 | 7914.31 | |||||||
| Motor Vehicle Expenses | 1381.30 | 1381.30 | 515.00 | |||||||
| Refund Expenses | 1600.00 | 1600.00 | 561.96 | |||||||
| 140692.02 | 140692.02 | 131094.50 |
| RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | RCCG KINGDOM LIFE CHAPEL LIMITED | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 FIXED ASSET | Leasehold Land & | Motor | Other | 2024/2025 | |||||||
| Building | Vehicle | Equipment | Total | ||||||||
| Fixed Asset Shedule | £ | £ | £ | £ | |||||||
| At 1st Jun 2024 | 36954 | 54223 | 70984 | 162161 | |||||||
| Additions duringtheyear | 490 | 490 | |||||||||
| At 31 May2025 | 36954 | 54223 | 71474 | 162651 | |||||||
| Depreciation | |||||||||||
| At 1st Jun 2024 | 12589 | 100765 | 130878 | 244231 | |||||||
| Charge for theyear | 3147 | 25191 | 32719 | 61058 | |||||||
| At 31 May2025 | 15736 | 125957 | 163597 | 305289 | |||||||
| Net Book Value | |||||||||||
| Disposal | |||||||||||
| At 31 May2025 | 21218 | -71734 | -92123 | -142638 | |||||||
| At 31 May2024 | 24365 | -46542 | -59893 | -82070 | |||||||
| 6 Current Liabilities | 2024/25 | 2023/24 | |||||||||
| £ | £ | ||||||||||
| Accruals | 3500 | 2500 | |||||||||
| Other taxes and social securities | 5200 | 3800 | |||||||||
| Other creditors | 13350 | 11500 | |||||||||
| 22050 | 17800 | ||||||||||
1.Independent Examiner’s remuneration 2025 2024 £ £ Fee payable the Charity’s Independent Examiner 400 400 2.Staff Cost 2025 2024 £ £ Pastor Ayo Ajiboye 31,200 23,400
Ruth Ajiboye – Office Admin Manager 24,000 23,092
(Ruth Ajiboye is the wife of the Pastor)
Pension 3,966 2,601
3. Trustees' remuneration and expenses
No trustees were remunerated .
No expenses were reimbursed to trustees or incurred in respect of trustee meeting expenses during the period, nor in the previous financial year.