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2021-06-30-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD

(ARK OF GOD)

YEAR ENDED: 30 JUNE 2021

CHARITY NO. 1145356

Contents

Legal and Adminstrative Information 1
Report of the Trustees 2-5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes forming part of the financial statements 9-13
The following page does not form part of the Statutory Accounts
Income and Expenditure Account 14

The Redeemed Christian Church of God - Ark of God Parish Report of the Trustees for the year ended 30 June 2021

Reference and Administrative information

Charity Name: The Redeemed Christian Church of God - Ark of God The Redeemed Christian Church of God - Ark of God
Charity Registered Number: 1145356
Principal Address Unit 1
94 Hopewell Drive
Chatham
Kent
ME5 7PY
Trustees Pastor (Mrs) Trude Adetola Adewoyin (Chairman)
Mrs. Nike Bello
Mr Azeez Mayowa Oshin
Pastor Ayodele Aladejana
Secretary Mr Azeez Mayowa Oshin
Accountants: PVG Accounting Services & Consultancy Ltd
344 Moston Lane
Manchester
M40 9JS
Bankers Lloyds TSB
Chatham
Kent
ME4 4AP

Page 1

The Redeemed Christian Church of God - Ark of God Report of the Trustees for the year ended 30 June 2021

The trustees present their report and the financial statements for the year ended 30 June 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' effective from 1 January 2015.

Structure, Governance and Management

Governing Document

The organisation is a charitable trust and governed by a trust deed dated 15th December 2011 and registered as a charity on 10th January 2012.

Recruitment and appointment of new trustees

Generally trustees are appointed by Board of Trustees. Trustees are appointed by invitation as at when required and depending on their expertise and requirements of the charity. Two new trustees were appointed during the year.

Induction and training of new trustees

The charity arranges appropriate training both internally and through other voluntary training providers. The trustees and all involved in running the charity, including volunteers are always encouraged to acquire the necessary skills required for the achievement of the charity objectives.

Additionally, new trustees are invited and encouraged to attend series of short training sessions to familiarise themselves with the charity and the context within which it operates.

Organisational structure

The trustees who served during the period and up to the date of the report are set out above. The day to day responsibility for the running of the charity lies with the Senior Pastor. The Senior Pastor is accountable to the Board of Trustees who are ultimately responsible for all strategic decisions of the charity.

The trustees meet regularly and are responsible for the strategic direction and policy of the charity. All trustees and the senior pastor give their time voluntarily and receive no benefits from the charity. No full time employee is engaged in the administration of the charity. The charity is assisted by members who render voluntary services to the charity.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that the systems are in place to mitigate exposure to the major risks.

Objectives and Principal Activities

The charity's objectives and principal activity is to promote the advancement of the christian faith, the relief of poverty and promotion and fulfilment of various charitable causes within the local community and such other parts of the United Kingdom and the world as the trustees think fit.

Page 2

The Redeemed Christian Church of God - Ark of God Report of the Trustees for the year ended 30 June 2021

Mission statement

of developing countries and within five minutes driving distance in every city and town of developed countries

We will pursue these objectives until every nation in the world is reached for Jesus Christ our Lord.

Ensuring Our Work Delivers Our Aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim , objectives and activities remained focused on our stated purposes. We have referred to the guidiance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The Focus of Our Work

Our main objectives for the year continued to be the advancement of the Christian religion and the relieve of poverty and sickness. The policy of the Redeemed Christian Church of God - Ark of God Parish is to pursue objectives in the following ways:

  1. Provision of Weekly Church Services on Friday and Sunday to minister to the physical, spiritual and material needs of the congregants.

  2. Provision of Services to individuals, families and community at large. The service includes a wide range of spiritual and social care.

  3. Focusing on the Material needs of certain members undergoing difficult financial situations.

  4. Working with other Christian agencies and Churches in Kent to advance the preaching of the Gospel.

  5. Offering training consultation and information services to members

  6. Sponsoring projects oversees (Mission and Outreach Work) where we have opportunity to do this effectively and where the project can be managed locally, such sponsorship can include funding, advice and training, assistance with raising finance and making contacts.

  7. Gathering documents and communicating information within our particular field of expertise for three main purposes:

solely on the basis of our ability to provide appropriate help and regardless of race, colour, nationality, religion, gender, age, legal status and personal history.

Page 3

The Redeemed Christian Church of God- Ark of God Report of the Trustees for the year ended 30 June 2021

Development and Achievements in the Period

The charity's events were properly managed, executed and reviewed for its impact on members. Our charity continues to grow in Sunday morning attendance, youth and children's ministry. We minister to the physical, mental and spiritual needs of our members and new comers in our midst. We have helped relief poverty and hardship amongst both regular and irregular congregants who are suffering from financial hardship due to unemployment and lack of financial resources especially during this time of Covid 19.

Financial Review

The charity was able to raise a total income of £38,802 during the year under review

Principal Funding Sources

The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through and offering basket passed during Church services and through bank standing orders etc.

Investment Policy

The Charity retains a significant amount in the savings account. The objective of the investment policy is to invest in cash at banks where the capital is protected. The charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds is guaranteed

Reserves Policy

It is the policy of the charity to maintain unrestricted funds which are the free reserves of the charity at a level which equates to at least 3 months of unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergencies which may arise from time to time.

The expenditure for 2021 was £36,402 and therefore the targeted reserves should be between £9,100.50 and £18,201 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. The charity was unable to meet the general reserve target during the year under review.

Plans for Future Periods

In the near future, the charity plans to expand its operations and we will continue our drive towards providing more benefits to our community. The Charity plans continuing the activities outlined above in forthcoming year subject to satisfactory funding arrangements.

The charity is also making necessary plans to acquire its own building in the forthcoming the year .

Page 4

The Redeemed Christian Church of God- Ark of God Report of the Trustees for the year ended 30 June 2021

Trustees ' Responsibilities

Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and

continue in operation

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statement comply with the Charities Act 2011. They are also responsible for the safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure of Information to the Accountants

In accordance with charity law, as trustees, we certify that:

So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the trustees of the charity we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information'.

This report has been prepared

By order of trustees:

Mr Mayowa Oshin Secretary

1st April, 2021

Page 5

Independent Examiner's Report to the Trustees of the Redeemed Christian Church of God (RCCG) - Ark of God for the year ended 30 June 2021

As described on pages 2 to 5, the Trustees are responsible for the preparation of the accounts, and they consider that an audit is not required for this year (under section 144(1) of the Charities Act 2011 (The 2011 Act) and that an independent examination is needed. It is my responsibilty to:

examine the accounts (under section 145(1) of the Charity Act 2011;

follow the procedures laid down in the general Directions given by the Charity Commissioners under section 132 of the Charity Act 2011; and

state whether particular matters have come to my attention

Basis of Independent examiners statement

Our examination was carried out in accordance with general Directions given by the Charity 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 the trustees concerning 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 examiners statement

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

(1) which gives us reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with section 130 of the Charities Act 2011; and

to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and with the methods and principles of the Statement of Recoommended Practice: Accounting and Reporting by Charities, have not been met: or

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

PVG Accounting Services & Consultancy Ltd 344 Moston Lane Manchester

M40 9JS

Page 6

The Redeemed Christian Church of God (RCCG) - Ark of God Statement of Financial Activities (including Income and Expenditure Account) for the year ended 30 June 2021

Notes
Incoming resources
Incoming resources from generated funds:
Voluntary Income:
Donations and Offerings
1
Building Fund
Gift Aid Tax Reclaim
Activities for generating funds:
Investment Income
Incoming resources from charitable activities:
Grants & Contracts
Total incoming resources
Resources expended
Cost of generating funds
Costs of generating voluntary income
2
Fundraising trading: cost of goods sold
Charity activities
3
Governance Costs
4
Total resources expended
Net Incoming resources before other
recognised gains
Net movement in funds
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 2021
2021
2021
2020
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
38,802
-
38,802
33,723
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
38,802
-
38,802
33,723
26,673
-
26,673
19,870
-
-
9,379
-
9,379
7,566
350
-
350
350
36,402
-
36,402
27,786
2,400
-
2,400
5937
2,400
-
2400
5,937
38,303
38,303
32,366
40,703
-
40,703
38,303

The statement of financial activities includes all gains and losses in the year. All incoming resourcesand resources expended derive from continuing activities.

The notes on Pages 9 to 13 form part of these Accounts.

Page 7

The Redeemed Christian Church of God- Ark of God Balance Sheet as at 30 June 2021

Notes
Fixed assets
Tangible assets
8
Currents assets
Cash at bank and in hand
Debtors
9
Creditors: amounts falling due
within one year
10
Net Current Assets
Long Term Creditors: amounts falling due
after one year
Bounce Back Loan
11
Net Assets
Unrestricted funds
General funds
12
Total funds		 2021
£
8,049
48,004
-
(350)
47,654
(15,000)
40,703
40,703
40,703		 2020
£
3,472
35,181
-
(350)
34,831
(15,000)
38,303
38,303
38,303

Approved by the Board of Trustees on the 1st April, 2021 and signed on its behalf by:

Mr Mayowa Oshin Secretary

The notes on pages 9 to 13 form part of these financial statements.

Page 8

The Redeemed Christian Church of God- Ark of God

Notes forming part of the financial statements for the year ended 30 June 2021

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of Accounting

The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed assets investments at market value, and in accordance with the Companies Act 2006 and the Statement of recommended Practice: Accounting and Reporting by Charities effective from 1 January 2015.

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furthermore of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

(c ) Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular cateries of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receiveable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity , are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Invested income is included when receivable.

Incoming resources from charitable trading activity are accounted for when earned.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Page 9

The Redeemed Christian Church of God- Ark of God Notes forming part of the financial statements for the year ended 30 June 2021

(d) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estmated usage as set out in Note 4.

Page 10

The Redeemed Christian Church of God- Ark of God

Notes forming part of the financial statements for the year ended 30 June 2021

1. Donations
Donations -Tithes and Offering
Gift Aid Tax Reclaim
Building Fund		 Unrestricted
Restricted
2021
2020
Total
Total
£
£
£
£
38,802
-
38,802
33,723
-
-
-
-
-
-
-
-
38,802
-
38,802
33,723

Total Resources Expended

2. Costs of Generating Voluntary Income

Basis of Allocation
Staff Costs
Direct
Bank Charges
Direct
Administration
Direct
Professional Fees
Direct
Support Costs
Direct
Premises
Direct
3. Charitable Activities
Ministry
Direct
4. Governance Cost
Professional Fees
Direct
Total Resources
Expended
5. Net Incoming Resources for the Year
This is stated after charging:
Accountant's Remuneration		 Church Work
Support Cost
Governance
2021
2020
£
£
£
£
£
-
4,815
-
4,815
-
-
3
-
3
10
-
481
-
481
648
-
-
-
-
-
-
7,152
-
7,152
3,758
-
14,222
-
14,222
15,454
-
-		 Church Work
Support Cost
Governance
2021
2020
£
£
£
£
£
-
4,815
-
4,815
-
-
3
-
3
10
-
481
-
481
648
-
-
-
-
-
-
7,152
-
7,152
3,758
-
14,222
-
14,222
15,454
-
-		 Church Work
Support Cost
Governance
2021
2020
£
£
£
£
£
-
4,815
-
4,815
-
-
3
-
3
10
-
481
-
481
648
-
-
-
-
-
-
7,152
-
7,152
3,758
-
14,222
-
14,222
15,454
-
-
-
26,673		 -
26,673		 19,870
9,379
-		 -
9,379		 7,566
9,379
-		 -
9,379		 7,566
-
-		 350
350		 350
-
-		 350
350		 350
9,379
26,673		 350
36,402		 27,786
2021
£
350
350		 2020
£
350
350

Page 11

The Redeemed Christian Church of God- Ark of God Notes forming part of the financial statements for the year ended 30 June 2021

6. Trustee Remuneration & Related Pay Transactions

No member of the Board of Trustee member including the Chief Executive/Senior Pastor received any remuneration during the period.

7. Taxation

As a charity, Redeemed Christian Church of God - Ark of God is exempt from tax on income and gains falling within section 505 of the Taxes Act1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.

8. Tangible Fixed Assets

Fixed assets (excluding investments and Land and Building) are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £200 are not capitalised.

Depreciation is provided at rates calculated to write of the cost of each asset over its expected useful life, which in all cases is estimated at 4 years.

Cost
At 1 July 2020
Additions in year
At 30 June 2021
Depreciation
At 1 July 2020
Charge for the year
At 30 June 2021
Net Book Value
At 30 June 2021
Net Book Value
At 30 June 2020		 Motor
Vehicle
£
11,887
-
11,887
9,658
1,114
10,772
1,115
2,229		 Equipment
Fixtures &
Fittings
£
8,123
8,417
16,540
6,880
2,726
9,606
6,934
1,243		 2021
Total
£
20,010
-
28,427
16,538
3,840
20,378
8,049
3,472

Page 12

The Redeemed Christian Church of God- Ark of God

Notes forming part of the financial statements for the year ended 30 June 2021

10. Creditors: Amounts falling due within one year

Accruals
Sundry Creditors		 2021
£
350
-
350		 2020
£
350
-
350

11. Analysis of Net Assets Between Funds

General
Designated Restricted
Total
Funds
Funds
Funds
Funds
£
£
£
£
Tangible Fixed Assets
Investments
Current Assets
Current Liabilities
Long-term Liability
Net Assets at 30 June 2021		 8,049
-
-
8,049
-
-
-
-
48,004
-
-
48,004
(350)
-
-
(350)
(15,000)
-
-
(15,000)
40,703
-
-
40,703

12. Movements in Funds

Restricted Funds:
Total Restricted Funds
Unrestricted Funds:
General Funds
Total Unrestricted Funds
Total Funds		 At 1 July
Incoming Outgoing
Transfers
At 30 June
2020
Resources
Resources
2021
[Inc Gains]
£
£
£
£
£
-
-
-
-
-
-
-
-
-
-
38,303
38,802
36,402
-
40,703
38,303
38,802
36,402
-
40,703
38,303
38,802
36,402
-
40,703

Page 13

The Redeemed Christian Church of God- Ark of God

Income and Expenditure Account for the Year Ended 30 June 2021

2021
2020
£
£
£
£
£
£
INCOME
38,802
33,723
LESS OVERHEADS
Staff Costs
Pastor's Allowance
4,815
-
4,815
Premises Costs
Rent & Rates
14,222
15,454
14,222
15,454
Bank Charges
3
10
3
10
Administration
Printing, Postage and Stationery
57
80
Telephone
204
270
Registration and Subscription Fees
220
298
481
648
Ministry
Evangelism and Promotion
700
802
Missions
6,211
3,514
Events, Retreats & Conferences
125
1,014
Gift to Charities & Visiting Ministries
1,500
900
Hospitality & Welfare
632
332
Donations & Love Gifts
200
876
Books, Tapes & Videos
-
68
Music & Media Expenses
11
60
9,379
7,566
Professional Fees
Accountancy Fees
350
350
Other Professional Fees
-
-
350
350
Support Costs
Hotel, Travel & Motor Expenses
1,571
1,009
Insurance
414
778
Repair & Maintenance
912
162
Depreciation
3,840
1,736
Sundry Expenses
415
73
7,152
3,758
(36,402)
(27,786)
Surplus/(Deficit for the year)
2,400
5,937
Surplus brought forward
38,303
32,366
Surplus carried forward
40,703
38,303
This page does not form part of the statutory accounts.		 2021
2020
£
£
£
£
£
£
INCOME
38,802
33,723
LESS OVERHEADS
Staff Costs
Pastor's Allowance
4,815
-
4,815
Premises Costs
Rent & Rates
14,222
15,454
14,222
15,454
Bank Charges
3
10
3
10
Administration
Printing, Postage and Stationery
57
80
Telephone
204
270
Registration and Subscription Fees
220
298
481
648
Ministry
Evangelism and Promotion
700
802
Missions
6,211
3,514
Events, Retreats & Conferences
125
1,014
Gift to Charities & Visiting Ministries
1,500
900
Hospitality & Welfare
632
332
Donations & Love Gifts
200
876
Books, Tapes & Videos
-
68
Music & Media Expenses
11
60
9,379
7,566
Professional Fees
Accountancy Fees
350
350
Other Professional Fees
-
-
350
350
Support Costs
Hotel, Travel & Motor Expenses
1,571
1,009
Insurance
414
778
Repair & Maintenance
912
162
Depreciation
3,840
1,736
Sundry Expenses
415
73
7,152
3,758
(36,402)
(27,786)
Surplus/(Deficit for the year)
2,400
5,937
Surplus brought forward
38,303
32,366
Surplus carried forward
40,703
38,303
This page does not form part of the statutory accounts.		 2021
2020
£
£
£
£
£
£
INCOME
38,802
33,723
LESS OVERHEADS
Staff Costs
Pastor's Allowance
4,815
-
4,815
Premises Costs
Rent & Rates
14,222
15,454
14,222
15,454
Bank Charges
3
10
3
10
Administration
Printing, Postage and Stationery
57
80
Telephone
204
270
Registration and Subscription Fees
220
298
481
648
Ministry
Evangelism and Promotion
700
802
Missions
6,211
3,514
Events, Retreats & Conferences
125
1,014
Gift to Charities & Visiting Ministries
1,500
900
Hospitality & Welfare
632
332
Donations & Love Gifts
200
876
Books, Tapes & Videos
-
68
Music & Media Expenses
11
60
9,379
7,566
Professional Fees
Accountancy Fees
350
350
Other Professional Fees
-
-
350
350
Support Costs
Hotel, Travel & Motor Expenses
1,571
1,009
Insurance
414
778
Repair & Maintenance
912
162
Depreciation
3,840
1,736
Sundry Expenses
415
73
7,152
3,758
(36,402)
(27,786)
Surplus/(Deficit for the year)
2,400
5,937
Surplus brought forward
38,303
32,366
Surplus carried forward
40,703
38,303
This page does not form part of the statutory accounts.
(27,786)
5,937
32,366
38,303

Page 14