THE REDEEMED CHRISTIAN CHURCH OF GOD
(ARK OF GOD)
YEAR ENDED: 30 JUNE 2024
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 2024
Reference and Administrative information
| Charity Name: | 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 Ayodele Aladejana | (Chairman) |
| Mrs. Nike Bello | ||
| Mr Azeez Mayowa Oshin | ||
| Dupe Mary Olushola Talabi Shola | ||
| 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 2024
The trustees present their report and the financial statements for the year ended 30 June 2024. 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 2024
Mission statement
a) To make heaven
-
b) To take as many people as possible with us
-
c) To have a member of The Redeemed Christian Church of God in every family of all nations d) To make heaven holiness will be our lifestyle
-
e) To accomplish 2 and 3 above we will plant churches within five minutes walking distance in every city and town
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:
-
Provision of Weekly Church Services on Friday and Sunday to minister to the physical, spiritual and material needs of the congregants.
-
Provision of Services to individuals, families and community at large. The service includes a wide range of spiritual and social care.
-
Focusing on the Material needs of certain members undergoing difficult financial situations.
-
Working with other Christian agencies and Churches in Kent to advance the preaching of the Gospel.
-
Offering training consultation and information services to members
-
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.
-
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 2024
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.
Financial Review
The charity was able to raise a total income of £46,560 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 2024 was £48,121 and therefore the targeted reserves should be between £12,030 and £24,060 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 reserve policy was not met 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 2024
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
7th February, 2025
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 2024
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 Recommended 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 2024
| 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 |
2024 2024 2024 2023 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ 46,560 - 46,560 60,252 - - - - - - - - - - - - - - - - |
|---|---|
| 46,560 - 46,560 60,252 |
|
| 26,553 - 26,553 23,552 - - 21,068 - 21,068 25,659 500 - 500 500 |
|
| 48,121 - 48,121 49,711 |
|
| (1,561) - (1,561) 10541 |
|
| (1,561) - (1,561) 10,541 73,558 73,558 63,017 |
|
| 71,997 - 71,997 73,558 |
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 2024
| Notes Fixed assets Tangible assets 8 Currents assets Cash at bank and in hand Debtors: amounts falling due within one year 10 Creditors: amounts falling due within one year 11 Net Current Assets 12 Net Assets Unrestricted funds General funds 13 Total funds |
2024 £ 13,195 58,102 1,200 (500) 58,802 71,997 71,997 71,997 |
2023 £ 6,476 67,582 - (500) |
|---|---|---|
| 67,082 | ||
| 73,558 | ||
| 73,558 | ||
| 73,558 |
Approved by the Board of Trustees on the 7th February, 2025 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 2024
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 categories 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 2024
(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 2024
| 1. Donations Donations -Tithes and Offering Gift Aid Tax Reclaim Building Fund |
Unrestricted Restricted 2024 2023 Total Total £ £ £ £ 46,560 - 46,560 60,252 - - - - - - - - |
|---|---|
| 46,560 - 46,560 60,252 |
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 2024 2023 £ £ £ £ £ - 7,200 - 7,200 6,000 - 5 - 5 - - 797 - 797 2,014 - - - - 600 - 11,461 - 11,461 8,427 - 7,090 - 7,090 6,511 - - |
Church Work Support Cost Governance 2024 2023 £ £ £ £ £ - 7,200 - 7,200 6,000 - 5 - 5 - - 797 - 797 2,014 - - - - 600 - 11,461 - 11,461 8,427 - 7,090 - 7,090 6,511 - - |
Church Work Support Cost Governance 2024 2023 £ £ £ £ £ - 7,200 - 7,200 6,000 - 5 - 5 - - 797 - 797 2,014 - - - - 600 - 11,461 - 11,461 8,427 - 7,090 - 7,090 6,511 - - |
|---|---|---|---|
| - 26,553 |
- 26,553 |
23,552 | |
| 21,068 - |
- 21,068 |
25,659 | |
| 21,068 - |
- 21,068 |
25,659 | |
| - - |
500 500 |
500 | |
| - - |
500 500 |
500 | |
| 21,068 26,553 |
500 48,121 |
49,711 | |
| 2024 £ 500 500 |
2023 £ 500 |
||
| 500 |
Page 11
The Redeemed Christian Church of God- Ark of God Notes forming part of the financial statements for the year ended 30 June 2024
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 for equipment, fixtures & fittings and 6 years for Motor Vehicle.
| Cost At 1 July 2023 Additions in year At 30 June 2024 Depreciation At 1 July 2023 Charge for the year At 30 June 2024 Net Book Value At 30 June 2024 Net Book Value At 30 June 2023 10. Debtors: Amounts falling due within one year Debtors |
Motor Vehicle £ 11,887 10,144 22,031 11,886 1,691 13,577 8,454 1 |
Equipment Fixtures & Fittings £ 20,550 - 20,550 14,076 1,734 15,810 4,741 6,475 2024 £ 1200 1,200 |
2024 Total £ 32,437 10,144 |
|---|---|---|---|
| 42,581 | |||
| 25,962 3,424 |
|||
| 29,386 | |||
| 13,195 | |||
| 6,476 | |||
| 2023 £ - |
|||
| - |
Page 12
The Redeemed Christian Church of God- Ark of God
Notes forming part of the financial statements for the year ended 30 June 2024
11. Creditors: Amounts falling due within one year
| Accruals 12. Analysis of Net Assets Between Funds |
2024 2023 £ £ 500 500 500 500 General Designated Restricted Total Funds Funds Funds Funds |
2023 £ 500 |
|---|---|---|
| 500 | ||
| Tangible Fixed Assets Investments Current Assets Current Liabilities Net Assets at 30 June 2024 |
13,195 - - 13,195 - - - - 59,302 - - 59,302 (500) - - (500) |
|
| 71,997 - - 71,997 |
13. 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 2023 Resources Resources 2024 [Inc Gains] £ £ £ £ £ - - - - - |
|---|---|
| - - - - - |
|
| 73,558 46,560 48,121 - 71,997 |
|
| 73,558 46,560 48,121 - 71,997 |
|
| 73,558 46,560 48,121 - 71,997 |
Page 13
The Redeemed Christian Church of God- Ark of God Income and Expenditure Account for the Year Ended 30 June 2024
| 2024 2023 £ £ £ £ £ £ INCOME 46,560 60,252 LESS OVERHEADS Staff Costs Pastor's Allowance 7,200 6,000 7,200 6,000 Premises Costs Rent & Rates 7,090 6,511 7,090 6,511 Bank Charges 5 - 5 - Administration Printing, Postage and Stationery 50 146 Telephone 197 168 Training 250 1,400 Subscription Fees 300 300 797 2,014 Ministry Evangelism and Promotion 2,080 1,355 Missions 6,223 5,420 Events, Retreats & Conferences 3,394 4,730 Gift to Charities & Visiting Ministries 3,400 2,280 Hospitality & Welfare 2,113 4,501 Donations & Love Gifts 3,455 5,323 Books, Tapes & Videos 44 425 Children Ministry 66 381 Music & Media Expenses 293 1,245 21,068 25,659 Professional Fees Accountancy Fees 500 500 Other Professional Fees - 600 500 1,100 Support Costs Hotel, Travel & Motor Expenses 6,402 970 Insurance 1,290 5,416 Repair & Maintenance 208 305 Depreciation 3,424 1,734 Sundry Expenses 137 2 11,461 8,427 (48,111) (49,711) Surplus/(Deficit for the year) (1,561) 10,541 Surplus brought forward 73,558 63,017 Surplus carried forward 71,997 73,558 This page does not form part of the statutory accounts. Page 14 Page 14 |
2024 2023 £ £ £ £ £ £ INCOME 46,560 60,252 LESS OVERHEADS Staff Costs Pastor's Allowance 7,200 6,000 7,200 6,000 Premises Costs Rent & Rates 7,090 6,511 7,090 6,511 Bank Charges 5 - 5 - Administration Printing, Postage and Stationery 50 146 Telephone 197 168 Training 250 1,400 Subscription Fees 300 300 797 2,014 Ministry Evangelism and Promotion 2,080 1,355 Missions 6,223 5,420 Events, Retreats & Conferences 3,394 4,730 Gift to Charities & Visiting Ministries 3,400 2,280 Hospitality & Welfare 2,113 4,501 Donations & Love Gifts 3,455 5,323 Books, Tapes & Videos 44 425 Children Ministry 66 381 Music & Media Expenses 293 1,245 21,068 25,659 Professional Fees Accountancy Fees 500 500 Other Professional Fees - 600 500 1,100 Support Costs Hotel, Travel & Motor Expenses 6,402 970 Insurance 1,290 5,416 Repair & Maintenance 208 305 Depreciation 3,424 1,734 Sundry Expenses 137 2 11,461 8,427 (48,111) (49,711) Surplus/(Deficit for the year) (1,561) 10,541 Surplus brought forward 73,558 63,017 Surplus carried forward 71,997 73,558 This page does not form part of the statutory accounts. Page 14 Page 14 |
2024 2023 £ £ £ £ £ £ INCOME 46,560 60,252 LESS OVERHEADS Staff Costs Pastor's Allowance 7,200 6,000 7,200 6,000 Premises Costs Rent & Rates 7,090 6,511 7,090 6,511 Bank Charges 5 - 5 - Administration Printing, Postage and Stationery 50 146 Telephone 197 168 Training 250 1,400 Subscription Fees 300 300 797 2,014 Ministry Evangelism and Promotion 2,080 1,355 Missions 6,223 5,420 Events, Retreats & Conferences 3,394 4,730 Gift to Charities & Visiting Ministries 3,400 2,280 Hospitality & Welfare 2,113 4,501 Donations & Love Gifts 3,455 5,323 Books, Tapes & Videos 44 425 Children Ministry 66 381 Music & Media Expenses 293 1,245 21,068 25,659 Professional Fees Accountancy Fees 500 500 Other Professional Fees - 600 500 1,100 Support Costs Hotel, Travel & Motor Expenses 6,402 970 Insurance 1,290 5,416 Repair & Maintenance 208 305 Depreciation 3,424 1,734 Sundry Expenses 137 2 11,461 8,427 (48,111) (49,711) Surplus/(Deficit for the year) (1,561) 10,541 Surplus brought forward 73,558 63,017 Surplus carried forward 71,997 73,558 This page does not form part of the statutory accounts. Page 14 Page 14 |
|---|---|---|
| 10,541 63,017 |
||
| 73,558 | ||
| Page 14 |