## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
Charity Reg No: 1144615
TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
||CONTENTS||
|---|---|---|
|Reference and Administrative Details||3|
|Trustees' Annual Report||4|
|Independent Examiner's Report||9|
|Statement of Financial Activities||10|
|Balance Sheet||11|
|Note to the Financial Statements||12|
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES & ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
|Trustees|General Overseer|
|---|---|
|Mr Michael John Askew - Chairman|Pastor E A Adeboye|
|Mr Babatunde Akindunmoye Oyeniyan||
|Mr Robert Peter Yarr||
||Pastor in Charge|
||Pastor Reuben E Inwe|
||Principal Address|
|Charity Registration No|53 Turnberry Drive|
|1144615|Acomb|
||York|
||YO26 5QP|
|Bankers|Independent Examiner|
|HSBC Bank Plc|Ayoks Consulting Limited|
|19 York Road|(International Accountant)|
|Acomb|7th Floor|
|York|The Balance|
|YO24 4LW|2 Pinfold Street|
||Sheffield|
||S1 2GU|
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## TRUSTEES' ANNUAL REPORT
## FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the 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.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.
## The charity also operates under the name RCCG Hope Centre.
Objectives and activities
## a. Policies and objectives
The main object of the charity is the advancement of the Christian faith worldwide and the relief of poverty.
b. Main activities undertaken to further the charity's purposes for the public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit in setting the objectives and planning the activities of the organisation. Details of how the charity carries out its activities for the public benefit are given below.
## Achievements and performance
## a. Review of activities
Hope Centre is a Christian Church and as such its main aims include:
- Communication of the Christian Faith to those outside the church by word and deed
- Support to those in the church (and where appropriate in other churches) by fellowship, care and teaching
Our activities in pursuit of these aims have included:
- a) Maintaining a regular series of meetings at which people can meet, share experiences, worship God together, pray, and learn about the Christian life. Further access has been provided by live streaming of services and the publication of church activities through social media and church website.
- b) The church provides marriage preparation and marriage support along with more general pastoral care of anyone who asks for it.
- c) The church prays for any sick people desiring intercession and we have seen some remarkable results.
- d) There are age-based children’s and teenager groups held on Sunday for Christian instruction.
- e) The teenage group that meets on Sunday mornings and Fridays, as well as holding an annual weekend away at a suitable residential location in the Yorkshire Moors. Children’s groups from crèche age up to 12 meet on
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## TRUSTEES'ANNUAL REPORT (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2024
Sunday mornings for age-appropriate instruction and activities. From summer 2024, the church youth will participate in a youth camp at the RCCG UK headquarters
## Prayer
Praying together is one of the most important activities for Christians, and the one that gives us the most beneficial impact on the world around us. Hope Centre has a regular pattern of church prayer meetings every Friday a monthly prayer meeting for the ladies, and a monthly prayer and social time for the men.
## A growing congregation
Hope Centre is a family-centred church, with a strong culture of supporting marriage and children. This emphasis can be seen in the large number of weddings taking place, and children being born to church members. The children’s groups have grown and flourished, with the teenagers now able to conduct their own meetings and respect their own leaders. This growth has put strain on the space allocated to children’s work in upper floor of Redemption House. The congregation has seen a steady growth in numbers, with the main auditorium barely able to contain the Sunday congregation.
## Property
During the period covered by this report the church has used the property acquired in April 2022 to host church activities and to serve as a centre for outreach in the local area. In view of the rapidly expanding congregation, the trustees have engaged architects and a planning consultant to make the strongest possible case for building an extension to accommodate up to 350 people. A pre-application consultation has been submitted to the planning office to gauge the likely response to an application for an extension to the property. During the period covered by this report the church has used the property acquired in April 2022 to host church activities and to serve as a centre for outreach in the local area. In view of the rapidly expanding congregation, the trustees have engaged architects and a planning consultant to make the strongest possible case for building an extension to accommodate up to 350 people. A pre-application consultation has been submitted to the planning office to gauge the likely response to an application for an extension to the property.
## “The relief of poverty”
The second Object of the RCCG Hope Centre Charity is the relief of poverty, and it is our intention to expand the support we can offer to those who need it most. This will include assistance for those in need of short-term accommodation but unable to afford the high cost of rental property in the York area.
## Financial review
## a. Principal risks and uncertainties
The church of Jesus Christ is a supernatural body with a divine mandate to bring the love of God to the world. It is underwritten from heaven, and this creates a different outlook on risk and uncertainty compared with a secular enterprise. Notwithstanding that fundamental difference, all due diligence is given to ensuring that the affairs of the Trust are managed in a manner that is responsible, professional and in accordance with all legal, ethical and charitable requirements.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## TRUSTEES'ANNUAL REPORT (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2024
However, there are times when bold decisive action is taken on financial projects after careful prayer and thought.
The principal human resources available to the Trust in the performance of its duties are as follows:
- The spiritual leaders of the church
- The commitment of the members and the talent represented in the congregation, several of whom have been highly experienced church leaders in various locations
- The contribution of Trustees
The greatest risks to healthy church life come in the form of any influence or eventuality that threatens the health or cohesiveness of the leadership team. In particular:
- Disagreement between those in leadership positions. All parties work hard to make sure that the working relationship is protected.
- Moral delinquency or scandal attaching to anyone in a prominent position. This can never be wholly ruled out while human beings remain frail creatures of flesh and blood. However, no one is appointed to positions of authority until after they have exhibited a long period of faithful service and moral probity.
- A further area of potential risk is in the legislative framework within which the church operates . As society in the UK becomes more and more secularized, hostile voices have become ever more strident in demanding that all expressions of religious faith be driven out of the public arena. Legislation that can be interpreted as barring a full expression of the Christian faith n public is already on the statute books. Such developments will be resisted with all democratic means and by fervent prayer.
- The possibility of financial liability arising from some accident or malfeasance cannot be ignored. The Trust carries all necessary insurance policies to cover public liability, loss and damage to mitigate this risk.
- b. Financial Review
The primary financial objective of the church is to support its missionary and community service endeavours, as well as giving to the wider international Christian mission. Money raised from voluntary donations has been able to support the outreach work of the church and to employ a full-time pastor. 15% of unrestricted income goes to overseas mission work and a monthly contribution of £50 goes to the administrative costs of the UK central office of the RCCG.
Total income for the year 1 April 2023 – 31 March 2024 was £160,556, of which £17,850 was restricted to defraying
ongoing building costs such as mortgage and utilities. Total expenditure for the year was £170,215. Total bank funds carried forward at 31 March 2024 was £22,638.
## c. Reserves and Going Concern Policy
The financial reserves of the church are examined on a weekly basis by the leadership team. The charity's standard policy is to ensure that there is an adequate buffer to cover all known expenses on a month-to-month basis with a sensible contingency.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## TRUSTEES'ANNUAL REPORT (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2024
The current account is normally kept with a buffer of 1-2 months expenditure in reserve. The financial year ending 31st March 2024 represented a full year of running the new building and paying the mortgage. The income to the church is sufficient to keep the cash reserves buoyant and to cope with any financial shocks. After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Structure, governance and management
## a. Constitution
The Redeemed Christian Church of God Hope Centre (RCCG Hope Centre) was established in York in early 2011. It was formally registered as a charity on 10 November 2011. The charity is governed by a Trust Deed made on 20 October 2011. The powers of the Trustees are set out in the Trust Deed.
## b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust Deed. The minimum number of Trustees is three and the maximum is seven individuals. Every trustee shall be in fellowship with The Redeemed Christian Church of God in Europe and if possible, not more than three- quarters of the Trustees shall come from the membership of RCCG.
The first trustees are entitled to hold office for life. Future Trustees must be appointed by resolution of the Trustees.
## c. Trustees and leadership
The Trustees are currently Michael Askew, Peter Yarr and Babatunde Oyeniyan. The leadership team consists of the full- time paid officer of the Trust – the Pastor Reuben Inwe, the Trustees and all those engaged in leadership roles in the church, such as children’s work, evangelism, prayer, social care, worship leading and so on. The leadership team meets fortnightly to discuss matters of church business, with major financial decisions made at meetings of all Trustees in consultation with the Pastor.
## Plans for future periods
In 2024-2025 the above activities are expected to continue, with a major focus being planning for the extension of Redemption House, which has been such a benefit to the church’s mission. A primary goal of every Christian church is making disciples of Christ, and this will continue to be the principal thrust of all our activities.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## TRUSTEES'ANNUAL REPORT (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2024
Information on fundraising practices
The organisation's fundraising activities are managed and controlled and monitored by the Trustees. No external body is involved in any fundraising on behalf of the organisation. All activities are carried out by members of the Charity. No professional fundraiser has been involved in these activities. We have not knowingly subscribed to any fundraising standard or regulation. The organisation has not received any complaints in respect of its fundraising activity.
## Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Name: Michael Askew
Position: Chairman of Trustees
Signature:
Date: 19 October 2024
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## INDEPENDENT EXAMINER'S REPORT
## TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which is set out on pages 10 - 18
## RESPONSIBILITIES AND BASIS OF REPORT
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the 2011 Act").
Having satisfied myself that the accounts of the charity are not required to be audited under Section 142(2) of the Charity Act 2011 ("the 2011 Act") and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charity Act 2011 ("the Act"). In
carrying out my examination, I have followed the Directions given by the Charity Commission section 145(5)(b) of the 2011 Act.
## INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting record were not kept as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Abiodun Akintebi FAIA, FCCA
## (International Accountant)
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
|||Unrestricted|Restricted|||
|---|---|---|---|---|---|
||Notes|funds|funds|2024|2023|
|INCOMING RESOURCES||£|£|£|£|
|Donations, legacies & similar incoming resources|2|117,349|17,850|135,199|383,763|
|Activities in furtherance of charity's object|3|25,357|-|25,357|16,310|
|Total Incoming Resources||142,706|17,850|160,556|400,073|
|RESOURCES EXPENDED||||||
|Management and Governance Cost|4|157,315|12,900|170,215|215,436|
|Total Resources Expended||157,315|12,900|170,215|215,436|
|Net Incoming/(Outgoing) Resources for the year||(14,609)|4,950|(9,659)|184,637|
|Transfers between funds||636,744|(636,744)|-|-|
|Net movement in funds||622,135|(631,794)|(9,659)|184,637|
|Total fund brought forward||8,498|636,744|645,243|460,606|
|Total funds carried forward||630,633|4,950|635,584|645,243|
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## BALANCE SHEET AS AT 31 DECEMBER 2024
|Fixed Assets
Tangible Assets
Notes
7
Current Assets
Debtor and Prepayments
8
Cash and bank balances
Short term liability
Creditors (amount falling due within a year)
9
Net Current Asset
Long term liability
Creditors (amount falling due after more than one year)
10
Net Assets
Charity funds
Restricted fund
11
Unrestricted fund
11|2024
£
863,643
2023
£
877,500|
|---|---|
||-
-
22,638
19,887|
||22,638
19,887|
||2,563
2,032|
||20,075
17,854
248,134
250,111|
||635,584
645,243|
||4,950
895,354
630,633
(250,111)|
||635,584
645,243|
Approved by the trustees and signed on their behalf by:
Name:
Position:
Signature:
Date:
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS
## 1. Accounting policies
## 1.1 Basis of preparation of financial statements
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 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
RCCG Hope Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
The financial reserves of the church are examined on a weekly basis by the leadership team. The charity's standard policy is to ensure that there is an adequate buffer to cover all known expenses on a month by month basis with a sensible contingency. The current account is normally kept with a buffer of 1-2 months expenditure in reserve. Total free reserves as at the year end were £630,633 (2023: £8,498), the average monthly expenditure of the church in the year ended 31 March 2024 was £11,163 (2023: £7,883).
It can be seen from the financial record of this year that substantial funds can be made available by church members when there is a substantial need. While sums of this scale cannot be assumed to be the usual result of a fund raising appeal, it is clear that there is the financial will in the congregation to go above and beyond when the need arises. The support of the denomination as a whole is also to be noted in considering the viability of Hope Centre church as a going concern. The pledge forms used for the building acquisition project provided a space for the length of the financial commitment promised. Most of the pledges which have expired have continued to be paid beyond the promised period.
The charity has committed to a £250,000 loan secured on property valued in excess of the loaned amount. The loan is repayable over 30 year term and the charity has received pledge forms to help cover repayments of the loan.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS (CONTINUED)
After making appropriate enquiries and whilst the option to make restricted funds available to cover general costs is available, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## 1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
## 1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## 1.6 Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 Section 521 to Section 537 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS (CONTINUED)
## 1.7 Tangible Fixed Assets
Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Building 2.5% Reducing Balance Technical & Musical Equipment 15% Reducing Balance
## 1.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## 1.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## 1.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
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. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## 1.11 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.
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS (CONTINUED)
## 1.12 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
## 1.13 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 which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
|2. Donations, Legacies & similar incoming resources
Donations
Donations relating to building fund
Total 2023
3. Activities in furtherance of Charity object
Gift Aid
Total 2023|Unrestricted
Fund
Restricted
Fund
Total Fund
2024
Total Fund
2023
£
£
£
£
117,349
-
117,349
74,835
-
17,850
17,850
308,928|
|---|---|
||117,349
17,850
135,199
383,763|
||74,835
308,928
383,763
Unrestricted
Fund
Restricted
Fund
Total Fund
2024
Total Fund
2023
£
£
£
£
25,357
-
25,357
16,310|
||25,357
-
25,357
16,310|
||16,310
-
16,310|
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS (CONTINUED)
|Unrestricted
Fund
4. Management & Governance Cost
£
Staff Cost
48,619
RCCG gift & other donations
19,365
Travel and accommodation
15,954
Other church expenditure
46,769
Governance costs
3,245
Building costs
-
Depreciation
23,363
157,315
5. Staff Cost
Wages & salaries
Social security costs
Pension
The average number of persons employed by the charity during the year was as follows:
The number of employees whose employee benefits (excluding employer pension costs)
exceeded £60,000 was:
In the band £60,001 - £70,000|Restricted
Fund
£
-
-
-
12,900
-
-
-|Total Fund
2024
Total Fund
2023
£
£
48,619
48,279
19,365
12,414
15,954
6,857
59,669
23,585
3,245
3,465
-
98,336
23,363
22,500|
|---|---|---|
||12,900|170,215
215,436|
|||2024
£
2023
£
32,369
42,997
13,821
4,464
2,429
818|
|||48,619
48,279|
|||2024
2023
No.
No.
1
1
2024
2023
No.
No.
-
-|
## 6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended
31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS (CONTINUED)
|7. Tangible Fixed Asset
Cost
At 1 April 2023
Additions during the year
At 31 March 2024
Depreciation
At 1 April 2023
Charged for the year
At 31 March 2024
Net Book Value
At 31 March 2024
At 31 March 2023
8. Debtors
Due within one year - Prepayment & accrued income
Tax recoverable
9. Creditors: Amount falling due within one year
Other loans
Other taxations and social security
Other creditors
Accruals and deferred income
10. Creditors: Amount falling due more than one year
Mortgage|Building
£
900,000
-|Technical &
Musical
Equipment
Total
£
£
-
900,000
9,507
9,507|
|---|---|---|
||900,000|
9,507
909,507|
||22,500
21,938|
-
22,500
1,426
23,363|
||44,438|
1,426
45,863|
||855,563|
8,081
863,643|
||877,500|
-
877,500|
|||2024
2023
£
£
-
-
-
-|
|||-
-|
|||2024
2023
£
£
-
-
1,459
1,132
204
-
900
900|
|||2,563
2,032|
|||2024
2023
£
£
248,134
250,111|
|||248,134
250,111|
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## THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE
## NOTES TO THE ACCOUNTS (CONTINUED)
## 11. Statement of funds
|Statement of funds||
|---|---|
|Statement of funds - current year
Unrestricted fund - General fund
Restricted fund - Building fund
Total of funds
Statement of funds - prior year
Unrestricted fund - General fund
Restricted fund - Building fund
Total of funds|Balance at
01/04/2023
Income
Expenditure Transfer
Balance at
31/03/2024
£
£
£
£
£
8,499
142,706
157,315
636,744
630,634
636,744
17,850
12,900
(636,744)
4,950|
||645,243
160,556
170,215
-
635,584|
||11,954
91,145
94,600
-
8,499
448,652
308,928
120,836
-
636,744|
||460,606
400,073
215,436
-
645,243|
## 12. Net assets by fund
|. Net assets by fund||
|---|---|
|Net assets by fund - current fund
Tangible fixed assets
Net current assets
Non current liability
Net assets by funds - prior fund
Tangible fixed assets
Net current assets
Non current liability|Unrestricted
fund
Restricted
fund
Total funds
£
£
£
863,643
-
863,643
20,075
-
20,075
-
(248,134)
(248,134)|
||883,718
(248,134)
635,584|
||877,500
-
877,500
17,854
-
17,854
-
(250,111)
(250,111)|
||895,354
(250,111)
645,243|
## 13. Pension commitments
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £2,429 (2023: £818).
## 14. Related party transactions
During the year, trustees donated a total of £54,866 (2023 - £35,466) to the charity.
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