2024-03-31-accounts - The Redeemed Christian Church Of God Praise Embassy Basingstoke

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Charity Number 1144744

The Redeemed Christian Church of God Praise Embassy Basingstoke

Annual Accounts

1 Apr 2023 - 31 Mar 2024

Prepared by DTT Consultancy Ltd

RCCG - Praise Embassy

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 Mar 2024

Introduction

The Board of Trustees of the RCCG Praise Embassy presents with great satisfaction Annual report and financial statements for the year ended 31[st] Mar 2023. The financial statement has been prepared in accordance with the provisions of the Statement of Recommended Practice [SORP] Accounting and Reporting by Charities issued I

Structure, Governance and Management

Praise Embassy is a parish of the Redeemed Christian Church of God – a worldwide mission with parishes in 170 countries of the World. RCCG Praise Embassy as a charity is governed by two documents namely a Deed of Trust and Agreement of Common Purpose which regulates her conduct with the central body.

The trustees set and monitor the fundamental goals of the Charity but delegate authority to the Pastor and the management team to carry out the day to day operations.

Objectives and Activities of the Charity

The main objectives of the charity are:

The advancement of the Christian religion
Elimination of poverty by social and economic inclusiveness

In furtherance of the above objectives, the activities of the charity are classified under the following themes:

[a] Christian worship;
[b] Provide Bible based teachings and counselling to members and the public

[c] Teaching the value of prayer and praying for the neighbourhood, city and nations of the world particularly the United Kingdom.

[d] Play active roles in social action that impacts the community. Offer complimentary educational provision to children and young adults in the community and city at large.

[e] Forster unity and love among people of different races and nationalities.

Developments, Activities and Achievements in the Year

We are happy to report that the Charity made remarkable progress during the reporting year in all areas of her charitable and Christian endeavours. The Trustees are very pleased that relationships with the immediate communities of Brighton Hill, Southam, the borough council, the local 'One Church' association and the parent RCCG denomination and other community groups in Basingstoke (churches and charities) are very productive. New relationships were formed with minority groups representing the interest of black and Asian communities, the refugee centre and others, leading to the lead pastor being awarded as one of the most influential people within the black community.

The Lead Pastor continues to represent the interests of our members as a member of the leadership team of the local OneChurch group, which has helped us build stronger relationships with local churches, charities and local chaplains in Basingstoke.

We have regularly made collections for the refugees in Basingstoke. We have again successfully delivered collaborative projects, held prayer sessions, and aligned our visions to ensure we can continue to serve the community better. specifically in 2022, Praise Embassy Basingstoke introduced a community shopping scheme where parishioners and people in the community get help with the shopping through whole sale purchase eliminating the extra costs introduced by the cost of living crisis. This project has now grown with over 50 families benefiting monthly. We have also revamped our Community and local engagement group where we are making advances providing support to our immediate community. The Cedars group for people over the age of 55 years now meet regularly once a month, they go out for meals, prayers and socialise together sharing ideas and connections.

This year, we were also able to collaborate with the Mayor of Basingstoke during the armistices As a multicultural group people of various nationalities, we came together on our 'International, multicultural Sunday' to celebrate our diversity and foster inclusion. It was a colourful and beautiful event, and all that attended were able to learn of each other's culture and values.

Our strategic weekly and monthly meetings for individuals and families continue to be a great source of spiritual and emotional enrichment for the attendees.

Future Developments : We are planning to introduce a second service to accommodate more people due to the growth and influx of health professionals into the town.

The trustees hold the opinion that efforts should continue to be made towards capacity building to allow more people benefit from the vision of the Charity. We are introducing more skills development programmes in Excel, and other Microsoft tools, project management and business We are also working on developing a new mothers weekly forum where mothers can learn from each other and feel like they are not alone.

Motunrayo Oyegunle Date: 18th Jan 2024

RCCG - Praise Embassy

INDEPENDENT EXAMINNERS REPORT FOR THE YEAR ENDED 31 MARCH 2024

I report on the financial statements of The RCCG Praise Embassy for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.

Respective responsibilities of trustees and independent examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act),as amended by s.28 of the Charities Act 2006 does not apply. It is my responsibility to examine accounts under section 43 of the Act, as amended, to follow procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, as amended, whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(i) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the Charities 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

(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

........................................................... Tunji Ogedengbe 36 Daffodil Close Hatfield AL10 9FF

Date: 18th Jan 2024

RCCG - Praise Embassy

RCCG - Praise Embassy	RCCG - Praise Embassy	RCCG - Praise Embassy	1144744	1144744
Annualaccountsforthe period
Period start date	1st April 2023	To	Period end date	31st March 2024

Section A Statement of financial activities

Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
-	-	-	-	-
320,161	-	-	320,161	246,467
-	-	-	-	-
212	-	-	212	105
-	-	-	-	-
-	-	-	-	-
320,373	-	-	320,373	246,572

-	-	-	-	-
210,228	-	-	210,228	156,581
-	-	-	-	-
-	-	-	-	-
94,743	-	-	94,743	47,408
-	-	-	-	-
-	-	-	-	-
304,971	-	-	304,971	203,989
15,402	-	-	15,402	42,583
-	-	-	-	-
15,402	-	-	15,402	42,583

-	-	-	-	-
	-	-	-	-
15,402	-	-	15,402	42,583
257,125	-	-	257,125	214,542
272,527	-	-	272,527	257,125

Page 1

Section B Balance sheet as at 31st March 2024

Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
447,675	-	-	447,675	452,682
-	-	-	-	-
-	-	-	-	-
447,675	-	-	447,675	452,682

-	-	-	-	-
4,825	-	-	4,825	4,825
	-	-	-	-
93,863	-	-	93,863	82,328
98,688	-	-	98,688	87,153

400	-	-	400	400

98,288	-	-	98,288	86,753

545,963	-	-	545,963	539,435

273,436	-	-	273,436	282,311
-	-	-	-	-

272,527	-	-	272,527	257,125

272,527			272,527	257,125
			-	-
	-		-	-
		-	-	-

272,527	-	-	272,527	257,125

Date of approval Print Name Signature
		Motunrayo Oyegunle		18/01/2024

Page 2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with*  Accounting Standards;

or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act 1993.

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;

 if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial Reporting Standards for Smaller Enterprises (FRSSE)”.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

§ if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years

Page 3

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	 the charity becomes entitled to the resources;
	 the trustees are virtually certain they will receive the resources; and
	 the monetary value can be measured with sufficient reliability.
Incoming resources with	Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure	the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional
	entitlement to the resources.
Tax reclaims on donations	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts	which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
	distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when
	receivable.
Donated services and	These are only included in incoming resources (with an equivalent amount in resources
facilities	expended) where the benefit to the charity is reasonably quantifiable, measurable and
	material_._The value placed on these resources is the estimated value to the charity of the
	service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from
	revaluing investments to market value at the end of the year.
EXPENDITURE AND	LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

Page 4

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
Tithes & Offering	320,161	246,467
	-	-
Total	320,161	246,467

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

Interest	212	105
	-	-
	-	-
	-	-
	-	-
Total	212	105

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

Page 5

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

This year Last year £ £ Analysis	This year Last year £ £ Analysis	This year Last year £ £ Analysis
Rent	12,760	682
Churchexpenses	-	3,038
Printing & Stationery	6,335	7,544
Office expenses	447	621
Securities	10,224	-
Telephone	2,537	2,366
Insurance	1,275	1,178
Volunteer	-	6,500
Honorarium	16,659	17,836
Professional fees	10,251	13,849
Accountancyfees		400
Hospitality	33,917	12,769
Training	1,310	578
Buildingmaintenance	11,358	8,970
Equipments	1,877	2,302
HMRCTax/NI	5,370
Multimedia	8,339	9,365
Travel	3,761	3,821
Teen	1,579	260
Salary	16,062	6,963
GuestMinister	-	2,303
MusicDepartment	3,821	10,640
Repairs andMaintenance	134	4,236
Utilities	12,228	6,157
Water	3,350	750
Furniture	1,549
Mortgageinterest	24,564	19,307
Depreciation	5,008	5,008
Bankcharges	873
Cleaning &Waste collection	13,753	8,253
FDMS	887	887
Total	210,228	156,581

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

	-	-
	-	-
	-	-
Total	-	-

Welfare	33,456	18,326
Region	1,200	1,200
Outreach	8,431	6,895
CentralOffice/WEM	6,200	1,847
Gifts &Donations	6,369	4,188
Conferences	39,086	14,953
Total	94,743	47,408




Total	-	-

Page 6

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*support costs.*
Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses

Total amount paid

This year	Last year


£	£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £
	400	400

Page 7

Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Van £	Buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Building Refurbishmen t £	Total £
8,160	425,000	-	10,593	23,595	467,348
-					-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
8,160	425,000	-	10,593	23,595	467,348
8,160	-	-	4,146	2,359	14,665
	-	-	2,648	2,360	5,008
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
8,160	-	-	6,794	4,719	19,673

-	425,000	-	6,447	21,236	452,683
-	425,000	-	3,799	18,877	447,675

Page 8

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

Page 8

Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
		-	-
-	-	-	-
4,825	4,825	-	-
-	-	-	-
4,825	4,825	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
		-	-
		-	-
-	-	-	-
400	400	-	-
-	-	273,436	282,311
400	400	273,436	282,311

Page 9

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

Page 9