Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 Charity No: 1145157 Company No: 7527S36 The Redeemed Christian Church of God, THE KING'S COURT Dlrectorfs and Truste Report and Fln8nclal Statements For The Year Ended 31st March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed thrlstlan Churth ol G¢xl. The Klnrfs Court Index to Rewt and Hnandal Statements forthe Year Ended 31. March ZOII Report of the Trustees Independent Audltor< Report ststement of Hnanclal ALtlvltle5 Balance Sheet Notes forming part ofthe Flnancial Ststements Redeemed Christian Church of God, THE KNG'S COURT Financial Stalement For Tk Year Ernled 31 March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Christlan Churth of God. The Court Pa8e I r The Year Ended 3tst March 2021 Reference and Admlnlstratlve detal Charlty Name: The Redeemed Chrlstlan Church of God, ThE KING'S COURT Status: Registered Charity Company Number: 7527536 Charlty Reglstrotlon No.. 1125157 Registered Offlce: l Floor 75-85 Summerstown London, SW17 Place of Worship: 1st Floor 7545 Summerstown London, SW17 OBQ Dlrectors and Trustees: SlmSsola Olaitan Kareem Moyosore Adufe Adeneye Oluwaseun A. Adebambo Chair. Parlsh pastor Olufeml O Adebalo Independent Examlner Flourish Global Consulting {A finn wlth Chartered Accountants & Management Consultants) Unlt 9 Challenge House, 616 Mitcham Road, Croydon, Surrey CRO 3A4 Bankers Barclays 8ank Plc, 43 High Street, Sutton, Surrey, SMI IDR Nationwide Buildin8 Society, 1&20 High Street, Tootln& London, SW17 ORG Redeemed Christian Church of Go4 THE KtNG'S COURT Financial Statement For The Year ENled 31st March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Chrlsttan thurth of God, The Klrfs Court Page 2 ort of the Trustees ForThe Year Ended 31st March 2021 The Trustees present thelr report together wtth the accounts for the Year Ended 31st March 2021. The accounts have been prepared In accordance wlth the Ststement of Recommended Prattlce 2LKJ5 and other applicable law5. Structure Governan¢e and Mana The charity is constltuted under a Trust Deed and in the process of being registered as a charlty wtth the Charty Commlsslon. al Method of Appolntment or Electlon of Trustee The mana8ement of the church is the responsibility of the Trustees who are elerted and COThOPted under the temis of the Trust Deed. bl Pollcles Adopted for the Inductlon and Tralnln8 of Trustees The Induction pro$ for any newly appointed member of the trustee5 compr15e5 an inltlal meetlng wlth other Chair and other Trustees, followed by a series of short meetin8 wlth the Minister in Charge on the powers and responsibilitie5 of the Trustee. c) Organlsatlonal Striiclure and Dedslon Makln8 The Charity is or8ani5ed 50 that the Trustees meet regularly to mana8e its affairs There is adminlstratorlaccount personnel that handle the daily affairs of the charity. c) Rlsk Management The Trustees have assessed the major rlsks to whlth the charity15 exposed, In particular those related to the operdtions and finances of the charlty, and are satlsfled that systems are in place to mlti8ate our exposure to the major rlsks. Ob ertlves and Actlvlll a) Pollcles and ObJertlve The objectives of the church are to advance the Chrlstlan rellgbon for the publlc beneftt In accordance with the doctrines of our Lord Jesus Christ, through the holding of prayers meetings, lecture5. evangellsm, dlstrlbuting of literature and tracts, broadcasting and such charitable means as the trustees consider appropriate: and the relief of poverty by such charitable means a5 the trustees consider appropriate. Redeemed Christian Church of God. THE KtNG'S COURT Financial Statement For The Year EThled 3 1st March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Chrlsllan aiurch of God, The Klrfs Crt Page 3 Re ort of the Trustees For The Year Ended 31st March 2021 b) Strategles for Achievin8 Objectives The Chartty has adopted the following strategies for achievin8 the above objectives: Or8anislng conferences and events wlth proven speakers and mlnlsters of the falth to gulde members In the varlous aspects of the Chrlstian faith: and support for other Charities and Christian events. Creating opportunities for members to dlscusslng toplcal Issues in relations to the Word of God. cl Actlvltles for Achlevln8 Objectlves. Community outreach events. Provision of welfare sUPPOrt to members. Provlslon to support other charfttes. Conferences and Events. d) Grant maklng Polldes. In line with the object of the thartty, to rellef poverty and the advancement of Chrlstlan rell8ion worSdwKle. The charity has a pollcy of supportin8 mlsslonary organlsatlon5 such as the Festlval of Llfe, Worfd Evangelism Mission and other charltles and member5 of congregation who are in need, (this is at the dlscretlon of the trustees). dl Volunteer& The charity 15 8r3teful for the 8ood efforts of Its volunteers who are Involved In servlce provision. The charlty has a volunteer coordinator to ensure that best value Is derived from the sterlln8 efforts of our volunteers. Achle a) Revlew of Actlvltles The charlty is consolidating the galns of previous development and has successfully ministered to the needs of various sodal groups within and outside the church. The charity provtdes forum for rnanpor development for its members to be equipped, educationally, socially and spirltually. It offers various counsellin8 sessions to the needy, unemployed. and makes referral whenever the need arises. During the year the charity provided free IT trainings for member5 of the communsty and Other free trainings to the general public Redeemed Christian Church of God, IHE KING'S COURT Financial Statement For The Year ErKled 31 March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Christian Churth of God, The ian¢s C4)Urt Page 4 Re ort ol the Trustees For The Year Ended 31st March 2021 The charity provldes pastoral care to members of the Community. We have also organised serfes of tralning sessi<$ to equlp the church volunteers wlth the relevant management skillsthat will helpthem serve the communlty better. We continue to support and encourage young people by providing a Youth Church vthere teenagers meet on Sundays under a carin& supportlve and encoura8ing atmosphere. The charity still continues to fulfil its maln objertive5, by creatln8 facSlltle5 to help develop the whole man, 5Piritually, mentslly and physically. We have Invested time, enerbry and money Into artivities and programmes that has helped prevent youth crimes, depressions in people, domestic & child abuse and such social vlces that are eating deep into our society. We contlnue to work collal)oratlvety w5th other churches In the community for the purpose of Propagatln8 the 8ospel of our Lord Jesus Chrfs¢ promoting soclal coheslon and integratlon. Flnanclal Revlew a) Resems Pollcy The trustees have establlshed a polky whereby the unrestricted funds not committed or Invested in tanglble flxed assets Ilhe free reserves'l held by the church should be 3 months of annual expenditure. At thls level, the tnjstees feel that they would be able to continue the current actlvitles of the church in the event of a si8nificant drop in fundln8. b) Prln¢lp•l Fundln8 This is provlded rnaIn through voluntary offerings and ttthes by church member5. Pledges are also taken for specific projects. Plans for the Future Future Developments The charity aims as part of fulfillin8 its main objectlves. to continue to explore various ways Redeemed Christian chUh of W THE KING'S COURT Financial Ststement For Tr Year ETrled 31st March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Chrlstlan Churth of God, The Klrfs Crt Page 5 Re of the Trustees For The Year Ended 3tst March 2021 Truste¥$ re5pondbllltles In relatlon to the finandal statement The tru5tee5 are responsible for preparingthe accounts in acwrdance with applicable law and United Kingdom Generally Accepted Accountlng Practice. Company law requlres the Management Committee to prepare financial statements for each flnancial year which give a true and fair view of the state of the affairs of the charitable company as at the balan sheet date and of it5 incomlng resources and application of resources, Includin8 income and expenditure, for the financial year. In preparin8 those flnanclal statements, the management commlttee a required to follow best practice and; Selett SUItab accountlng policies and then apply them consistently; Make judgements and estimates that are reasonable and prudent; and State whether appllcable accountSn8 Standards have been followed, subjert to any materlal departures to be dlsd05ed and explalned in the financial statements. Prepare the financial statements on the 80in8 conrn basls unless 15 Inapproprlate to assume that the company wlll contlnue on that basis. The Tru5tee5 are SpOnSIble for maintalning proper accountlng records whlch disclose with reasonable accuracy at any tSme the flnanclal posltion of the charitsble company and to enable them to ensure that the financlal statements comply wrth the Companles Art 1985. They are also responslble for safeguarding the asset5 of the charltsble company and hence for taklng reasonable steps for the prevention and detectlon of fraud and other Irregularities. Members of the Mana ement Committee Members of the Management Commlttee, who are directors forthe purpose of company law and trustee5 for the purpose of charity law, who seprfed durln8 the year and up to the date of this report are set out on page l. In accordance wlth company law, as the CoMpanS dlrectors, we certlfy that: So far as we are aware, there Is no relevant audit Information of whlch the companvs audrtors are unaware of; and A5 the directors of the company we have tsken all the steps that we ou8ht to have taken In order to make ourselves aware of any relevant audit infonnation and to establlsh that the charty's auditors are aware of that inforniatlon. Redeemed Christian Church of God, THE KtNG'S COURT Financial Ststement For The Year ETKled 3 1st Match 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Chrfstlan Churth of God, The Klrfs Crt Page 6 nde nt Examlnerfs Re rt To The Trustees We have examlned the flnancial ststements on pages 2 to 12 whlth have been prepared In accordance with the accounting polides set out on page 9. Re5pertive responslbllitles of the trustees and Indepth examSAer The charity trustees are responsible forthe preparatlon ol the financial ststements. The trustees conSLder that an audit not required for this year lunder sertion 144121 of the char1¢9 Act 20111 Ithe2011 act). It 15 my re5pon5ibility to: ' examlne the aceounts lunder sett 145 of the 201LA£tl- • follow the procedures laSd down In the General Direcilons 8Jven bythe Charlty Commlsslon lunder section 14515llbl of the 2011 and • to state whether partl¢ul3r matters have ¢ome to myattention. Basts of Ind•pendent •x•mln•r's r•wt My examlnatlon was carrted out In accordance wlth the Geneftl Dlrectlons Wven bythe Charfty Comrn155kJn. An examlnatlon Includes a Ttvlew of the accountlng records kept by the organlsatlon and a comparison of the accounts presented wlth those records. It a150 intlud& conslderatlon of unusual Ittms or dlsclosures In the accounts and. seeklng explanatlon from you as trustees con¢ernln8 any such matter5. The procedures undertaken do not provide all the evldence that would be required in an aud and ¢onsequently I do not eXpffj an audit oplnlon on the ¥iew 8i¥en by the a¢¢ounts. Itls my respon51bllMI to fwm Jn Independent oplnlon. based on my ex•mlnatlon on tlKse fin•n¢l•l statements and to report on my oplnhTh. Independent Examlner's Statement In connettlon wlth my examlnatlon, no matter has come to my attentlon: l} which glves me reasonable cause to believe that In any material respert the requirements • to keep accountlng records in accordance with sertion 130 of the 2011 Aci; and to prepare accounts whSch accord with the accounting records and to comply with the a¢¢ountln8 requirement of the 2011 Act have not been meL 21 to whlch. In my oplnlon, attentlon should be drawn In order to enable a proper understandln8 of the accounts to be reached. Mlchael Ikumoba5in- FCCA. FC4 FF4 FIP& FAI& MA Pho For and on behalf of Flourlsh Global Consulting Sign: Date: 17th December 2021 Redeemed Christian Churcb of God, THE KG's COURT Financial Statement For The Year Ended 3 1st Mar¢h 2021
Docusign EnvÈlope ID". D8644D87-019C45EA-gD3A-CD2DF3EABE11 The Redeemed Christlan chUh of God. The Court Page 7 Statement of Financial Actl¥itles For The Year Ended 3tst Marth 2021 INCOME AND EXPENDTfuRE ACCOUNT Notes Restricted Funds Unrestrirted Totsl Total Funds. 31103121 31103120 INCOMING RESOURCES Incomlng resources from Charitable activitie&. tk*natlons, legacies & Similar incomin8 resources 26,030 26,030 31,184 Total Incoming Resour$ 26.030 26.030 31.184 RESOURCES EXPENDED Charftable Expendlture: Grants Payable 3.567 3,567 4,051 Costs of activities in furtheran Of charitvs Objects
7 21.501 21.501 25.199 TOTAL RESOURCES EXPENDED 25.W 25,(W 29250 Net Income/[EXpendlre) for The year 1,934 NET MOVEMENT IN FUNDS 96Z 1,934 Reconcillatlon of Funds Funds brought forward as at 01 April 20ZO 13.076 13.076 11,142 Fund carrfed forward as at 31 Mar¢h 2021 14,038 14,038 13,076 The ststementof flnandal actl¥ftles Indudes all galns and losses In the year. All incomiTr8 resources and resources expended derived from cofitinuiry artlvitle Redeemed Christian Church of God, THE KING'S COURT Financial Statement For Tr Year Ended 31st March 2021
Docusign EnvÈlope ID". D8644D87-019C45EA-gD3A-CD2DF3EABE11 The Redeemed Chrlstlan Churth of God. The Court Page 8 BALANCE SHEET AS AT31st Marth 2020 3110312021 3V0312020 FIXED ASSErs Tan8ible Fixed Assets CURRENT ASSETS Cash at Bank and in Hand 13,743 11,591 LIABIUTIESAND CREDrroRs Amount falllng due wlthln l {9)SJ NET CURRENT AssErs 591 CURREMT LIABILmE5 NASSET5 FUNDS I¥THE CHARTtY Unrestrfrted Funds Audlt Exem n Statsmert For the year endlng 31" Marth 2021. the cThnpany was entsyed to exemption frcth audit under section 477 of the Companles Act 2(K)6 relatingto small companie& Directors. responsibilities.. the members have not required the companyto obtsin an audit of its acwunts forthe year In question in accordance with section 476 of the c(7panieS Act 26. the directors acknowledge their responsit41ities for ComY1ng with the requirements of the Act with respertto accounting recdS and the preparation of accounts these accounts have been kyepared in aCCdan the provisicffls apIcableto companie5 subject to the small companies, 1rne. These flnanclal statements were apwoved by the management crrfnmittee on December 2021 and signed on its behalF by- Do¢u¥Mdty. Pastor IMr51 Skmisola O. Kareem. Chair [. (Nuwase AdÈbambo- Direttor Redeemed Christian Church of God, THE KING'S COURT FInla1 Statement For The Year Ended 31st March 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Christlan Chur¢h of God. The Klrfs Cowl Page 9 Notes to the Financial Statements For The Year Ended 3tst Marth 2021 l. A¢ntIng Polkles The principle accounting polKies are swnmarised below. The accounting polKies have been applletl conslstently throughout the year and In the precediryd year. Basls of Preparatk)n Accountin8 and Reporting by Charftles: Statement of Recommended practi applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021 leffectl¥ l January 20191. The Charity meets the definition of a public benefit entlty un(ier FRS 102. Assets and Ilabllltles a initially reccnised at historlcal cost or transartSon value unless otherwlse stated in t1 levant accountln8 policy. The accounts are prepared In stertln& whlch Is the nCtIal currenry of the tharltable company. Monetsry amounts in these accountsare rounded tothe nearest£. PrepaTatlon of tho actounts on a Wn8 ¢on¢ern hsls The trustees have considered the effect of Covid-19 outbreak. The outbreak has caused distruptlon to the charlvs actlvltles to date, as our church servio5, pastoral care and other charitable activltles have been provkled USI onfine platforms. We have to close the church premlses, but we contlnued our seplices vla online and telephone. Income has been afferted by the lockdown. The trustees conslder it unlikely that a prolonged outbreak will ouse slgnlflcant distruptlon. Accordin8ly• at the tlme of approvin8 the flnanchal ststements, trustees have a reasonable expectation that the compary has adequate resources to continue In operation for the forseeable future. Thus the trustees contlnue to adopt the golr6 concern basis of accountln8 In preparing the financial statements Ibl Fundlry accountknl Unrestrlcted funds are available for use atthe discretion of thetnjstees In furtherance of the general objettives ofthe charity. Restrlcted funds are subierted to restrittions on their expenditure imposed by the donor or through the tem15 of an appeal. Icl All incoming $OurceS are Included in the ststement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific polK?es are applied to particular categories of income: Redeemed Christian Church of W IHE KING'S COURT Financial Statement For The Year EThqed 31st MaT¢h 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Christian Church of God. The Kln¢s Crt Page 10 Note5 to the Financial Ststements For The Year Ended 3tst Marth 2021 Ikjnated services and frdcilitles are induded at the value to the charity where thls can be quantified. The value of seNices provided by volunteers has not been included in these account& Investment income is included when recervabk. Incomin8 resources from donations, where related to performance and specific deliverables. are accounted for as the charity eams the r48ht to consideratlon by Its performance. Donations intended the purchase of fixed assets are included In Incomlftg Resources in the perlod for whlch they are receivable. Depreaation on related fixed assets is charyed to Resources Expended. (dl R•SoUr¢ Expended Expenditure is recognised on an a¢trual basis a5 a liabllity Is Incurred. Expendlture also includes any VAT whlch cannot be fully recovered, and Is reported as part of the expenditure to which it relate5: Charltable expendlture comprlses costs incurred by the charty in the dellvery of its activities and services for its beneflclarles. It Includes both costs that can be allocated dirertly to such actfvlt*s and those costs of an indlrect nature ne$sary to support them. Tar&lble Hxed Assets and Depredatlon Fixed assets are stated at cost less accumulated depreciation. The costs of minor additsons or those msting below £350 are not capitalised. Depreclation is provided at rates calculated to write off the cost of each a55et over Its expected useful Ilfe, which in all cases is estimated at 3 years. A full year depreciation is thar8ed In the year of acquisition of Fixed Awts A nominal resldual of £10 is kept in the l>coks In respect ful deprech?ted tangible fixed assets. All leases of bulldings and equipment a ¢sidered to be operating lease5, and rentals are char8ed to Resouros Expended when incurred. No a55ets are held under hlre purchase agreements. Redeemed Christian Church of God, THE KtNG'S COURT Financial Statement For The Year ETA1 31st MaTch 2021
Docusign EnvÈlope ID". D8644D87-019C45EA-gD3A-CD2DF3EABE11 The Redeemed Churth ofGod, The Kln¢s Court Page 11 Notes to the Financial Statements For The Year Ended 3tst March 2021 Year Ended 3110312021 Year Ended 3110312020 l. Donatlons & Grants Un-covenanted Irithesl Collection at servios (Offerings) Thanksgiving Seed Offering Gift Aid Reclaims Received First Fruit Offering 13.290 4,806 I,CK15 391 6.232 306 14.162 7,175 2.192 I,ioi 5,908 646 2. Grants Pald RCCG Central Office Fund Other Charities First Fruit Compassion UK WEM 525 705 336 3(X) 3. Dlrert thurch Expenditure Church Outreach Welfare Honorarium 450 2.022 250 2,587 1,264 4. thurch Runnlng Expenses Rent Business Rates Cleaning & Repairs Insurance Minor Equipment Gas & Elettricity 10,8 2.330 1,047 599 10,8 1,668 1,375 599 616 964 5. Admlnlstrative Expenses Telephone Publicity. Printlng & Stationeries Legal & Professional Fees Training & Books Travel & Subsisten 1.188 164 13 791 229 13 1.659 Red¢¢m¢d Christian Church of GO THE KING'S COURT Financial Statement For Tr Year Ended 3 1st Mah 2021
Docusign EnvÈlope ID". D8644D87-019C4SEA-gD3A-CD2DF3EABE11 The Redeemed Chrlstlan (Jwrth of God, The fin5 Court Page 12 Notes to the Finanaal Statements For The Year Ended 31st March 2021 Year Ended 31/al2021 Year Ended 3110312020 7. Depreclatlon 1.313 & FIXED ASSEfs SCHEDULE Muskal Equlpments Fumlture & Compiiters Flttln85 Total Cost as at l Aprfl 2020 Addition irs the year Balance as at 31 Marth 2021 8,859 2,047 1,050 899 11,956 899 12 Depfedatlon b/f QIIW20 Charge for the perlod 7.394 2,037 10.471 Balance as at 31 March 2021 27 Net Book Value Balance as at 31 Marth 2020 Balance as at 31 Marth 2020 9. CASH AT W4K AND IN HAND Year Ended 3110312021 Year Énded 3110312020 Bank 74 591 10. CREDITOR Loan fallin8 due wlthln l Year Redeemed Cl]rislian Church of Gol THE KING'S COURT Financial Statement For The Year ETraed 31st March 2021