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2020-12-31-accounts

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

CONTENTS

Page
Legal and administrative details of the Charity, its trustees and advisors 3
Trustees' report 4 to 5
Independent examiner's report 6
Statement of Financial Activities 7
Balance sheet 8-9
Notes to the financial statements 10 to 13

2

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

CHARITY INFORMATION

Charity number 1145233 (England & Wales)
Governing document The Redeemed Christian Church of God: Dominion Christian
Connections is part of The Redeemed Christian Church of God (UK) - a
national church organisation in the United Kingdom. The national
constitution has been adopted with amendments.
Trustees Mr. Temidayo Olasunkanmi
Mrs Titilayo Ogunyoye (Deceased, 21stAugust 2020)
Mrs Rosaline Hawa Turay
Pastor-in-charge Pastor Samuel Sodinmu
Charity contact Pastor Samuel Sodinmu
Principal address 36-38 Park Road
Peterborough
PE1 2TG.
Independent examiner Practical Advice Consulting Limited
1000 Great West Road
Brentford
Middlesex
TW8 9DW
Principal Bankers Barclays
Woolwich
Leicestershire
LE87 2BB.
Website www.dominionconnections.org
Email admin@dominionconnections.org

3

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report and unaudited financial statements for the year ended 31 December 2020.

In preparing the accounts, the Trustees have followed the accounting policies set out in note 1 to the financial statements and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005.

CHARITABLE OPERATIONS

This is a registered charity established for the public benefit to advance Christian’s faith worldwide and the relief of poverty.

Structure, Governance and management

One of the Trustees – Mrs Titilayo Ogunyoye, passed on to Glory during the year. A replacement trustee is yet to be appointed. The board of trustees set the direction and policy framework for the Church. The Trustees meet at least twice a year and are responsible for the overall direction of the charity and for its core strategic policies. There are clear responsibilities and procedures for reporting decisions, actions and issues, including recruitment and induction of new trustees.

Risk Management

The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. The Trustees believe that sufficient controls exist having regard to its size and composition of the board of Trustees.

OBJECTIVES AND ACTIVITIES

The charity’s objectives are, for the public benefit:

  1. Worship and Prayer - learning about the Gospel through periodic bible study and increasing awareness of God’s presence by spreading His love;

  2. Service - provision of pastoral care for the people living in the community;

  3. Missionary activities - developing confidence in evangelism and in capacity to spread the Word of God and faith to all.

Review of activities and performance

The Board

The board of trustees is well resourced. The trustees bring to the RCCG Dominion Christian Connections (Dominion) a broad range of skills and experience that gives the needed direction to the Charity. Trustees held board meetings as usual during the year but virtually.

Key achievements

The Dominion Café could not hold due to Covid 19 pandemic.

Future plans

The trustees has the following plan:

Public benefit

The Trustees confirm that they have referred to the Charities Commission's guidance on public benefit when reviewing the charity's aims, objectives and activities and are satisfied that they fully meet it.

4

Review of financial position

During the year ended 31 December 2020, there were incoming resources of £125,855 (2019: £137,336) and total resources expended of £134,219 (2019: £95,540), resulting in a deficit of £8,364. As at 31 December 2020, RCCG Dominion Connections had total funds of £173,404. The incoming resources decreased by 8% compared to last year. Also, Government grant constituted 25% of the total earnings during the year.

The resources expended increased significantly by about 40%. The increase is due to a non-recurring item of expenditure of £25,000 paid as salary arrears.

Impact of Covid

The lockdown impacted the Charity’s activities and income but not detrimental to its going concern. The Church’s management responded quickly to the challenge of government restriction on physical meeting by migrating Church services online. Trustees therefore are confidence that the charity is financially stable.

Approved by the Board of Trustees and signed on its behalf

Mr. Temidayo Olasunkanmi Chairman

Date: 11 March 2021

5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

FOR THE YEAR ENDED 31 DECEMBER 2020

I report on the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 7 to 12.

Respective responsibilities of trustees and examiner

The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

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 charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

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

Matthew Odu

For and on behalf of Practical Advice Consulting Limited 1000 Great West Road

Brentford, Middlesex London TW8 9DW

Date: 11 March 2021

6

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

Note
INCOMING RESOURCES
Incoming funds from generated funds
Voluntary income
2
Investment income
Gift aid repayment
Total incoming resources
RESOURCES EXPENDED
Cost of generating funds
Fundraising costs and other costs
3
Charitable activities
4
Support costs
Legal costs and other professional fees
5
6
Other resources expended
Depreciation
7
Total resources expended
Net incoming/(outgoing) resources
before other recognised gains and losses
Other recognised gains
Net movement in funds
Funds brought forward
Total funds at 31 December		 Unrestricted
Designated
Funds
Funds
£
£
98,614
21
27,220		 2020
2019
£
£
98,614
102,692
21
27,220
-
34,644
125,855 125,855
137,336
15,844
-
11,383
-
90,483
4,458
-
10,951
1,100
-		 15,844
16,190
11,383
5,142
90,483
4,458
51,106
4,283
10,951
1,100
16,864
1,955
134,219
-		 134,219
95,540
(8,364)
-
-
-		 (8,364)
41,796
-
-
(8,364)
-
181,404
-		 (8,364)
41,796
181,404
139,608
173,404
-		 173,404
181,404

7

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible fixed assets
11
Current assets
Cash at bank and in hand
Prepayment
Current liabilities
Creditors and accruals
Current portion of long term loans
Net current assets
Total assets less current liabilities
Long term loans		 2020
£
346,675
346,675
26,409
27,037
53,446
9,398
16,159
25,557
27,889
374,564
( 170,266)
204,298		 2019
£
347,775
347,775
34,001
12,502
46,503
-
16,946
16,946
29,557
377,332
(195,928)
181,404

8

Funds of the Charity

Unrestricted fund 173,404 181,404 Restricted fund 31,258 - 204,298 181,404

Approved and signed on behalf of the Board of Trustees by:

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Mr. Temidayo Olasunkanmi

Chairman

Date: 11 March 2021

9

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Principal accounting policies

Basis of accounting

The accounts 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 for Smaller Entities published on 16 July 2014 and the Charities Act 2011 and applicable regulations.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated.

Fund accounting

Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives.

Restricted funds are subject to specific restrictions as imposed by the donors.

Incoming resources

Income represents donations and investment income received which are brought into account on receipt unless their receipt is reasonably certain in which case they are brought into account when notified.

Fundraising income is recognised on the date that the fundraising event took place.

Resources expended

Expenditure is recognised when a liability is incurred. Expenditure includes VAT. Fundraising costs include those costs relating to special programmes and sponsored activities.

Charitable activities wholly related to grants and sponsorships to those the charity is committed to support through its activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Other resources expended relate to those other costs that cannot be attributed to any other relevant heading.

Depreciation

Depreciation on fixed assets is charged so as to write off their full costs less estimated residual value over their expected useful lives at the following rates:

Computer equipment 50% straight line
Other equipment 25% straight line
Motor vehicle 25% straight line

Going concern

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. The Trustees have considered the impacts that the Covid-19 pandemic may have for the Charity and it is deemed that the Charity can meet its commitments and liabilities and can continue for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

10

2
Voluntary income
Tithes
Offering
Thanksgiving
Seed
Other income
Government grants
Donation		 Unrestricted
£
32,398
11,376
3,135
4,066
10,786
31,258
5,595
98,614		 Designated
£
-		 2020
£
32,398
11,376
3,135
4,066
10,786
31,258
5,595
98,614		 2019
£
85,891
29,084
314
-
-
-
-
115,289

11

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

3
Fundraising costs and other costs
Rent
Mortgage interest
Honorarium
Publicity and evangelism
Stationery, printing & postage
4
Charitable activities
Welfare & entertainment
RCCG central office
Direct donation
5
Support costs
Transport and travelling
Repairs and renewals
Independent examiner fee
Training/conference
Salaries
National Insurance contribution/Pension
6
Legal costs
Legal and professional costs
7
Other resources expended
Gas/electricity
Council tax
Insurance
Telephone & communication
Bank charges		 Unrestricted
£
5,850
6,802
1,550
297
1,345
15,844		 Designated
£
-
-
-
-
Designated
£
-
-
-
-
Designated
£
-
-
-
-
-
-
-
Designated
£
-
-
Designated
£
-
-
-
-
-
-		 2020
£
23,850
6,802
1,550
297
1,345
33,844		 2019
£
-
7,066
5,495
1,837
1,792
16,190
Unrestricted
£
7,783
3,600
-
11,383		 2020
£
7,783
3,600
-
11,383		 2019
£
1,992
3,150
-
5,142
Unrestricted
£
668
4,396
924
621
81,519
2,355
90,493		 2020
£
668
4,396
924
621
81,519
2,355
90,483		 2019
£
2,248
1,805
836
1,847
37,039
7,331
51,106
Unrestricted
£
4,458
4,458		 2020
£
4,458
4,458		 2019
£
4,283
4,283
Unrestricted
£
5,136
401
3,101
2,146
167
10,951		 2020
£
5,136
401
3,101
2,146
167
10,951		 2019
£
6,889
3,989
3,307
2,289
390
16,864

12

REDEEMED CHRISTIAN CHURCH OF GOD: DOMINION CHRISTIAN CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

8
Analysis of net assets
Unrestricted funds
Designated funds
Endowment income
9
Unrestricted funds
10
Designated funds
Government Grants
11 Tangible fixed assets
Tangible fixed assets
Cost:
As at 01 January 2020
Addition
At 31 December 2020
Depreciation:
As at 01 January 2020
Addition
At 31 December 2020
Net book value:
As at 01 January 2020
At 31 December 2020		 Fixed
Net current
Total
assets
Assets
2020
£
£
£
-
173,404
173,404
-
-
-
-
-
-
-
173,404
173,404
At
1 January
Funds
Incoming
Resources
2020
Introduced
Resources
Expended
£
£
£
£
181,404
-
125,855
(134,219)
181,404
-
125,855
(134,219)
At
1 January
Funds
Incoming
Resources
2020
introduced
Resources
expended
£
£
£
£
-
-
31,258
-
-
-
31,258
-
Freehold property
Computer Equipment
& Other Assets
Total 2020
£
£
£
343,864
50,725
394,589
-
-
-		 Total
2020
£
173,404
-
-
173,404		 Total
2019
£
181,404
-
-
181,404
At
31 Dec
2020
£
173,040-
173,040
At
31 Dec
2020
£
31,258
31,258
2019
£
394,589
-
343,864
50,725
394,589		 394,589
-
46,814
46,8814
-
1,100
1,100		 44,859
1,955
-
47,914
47,914		 46,814
343,864
2,811
346,675		 347,775
343,864
2,811
346,675		 347,775

13

12 Taxation

RCCG Dominion Christian Connections is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

13 Trustee remuneration and reimbursed expenses

None of the Trustees received remuneration for their services during the year. No payments were made for their travel and administration expenses.

14