THE REDEEMED CHRISTIAN CHURCH OF GODCITY OF PEACE, READING.
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER, 2024
CHARITY REG NO 1145566
**TES/COPR0125**
## The Redeemed Christian Church of God-City of Peace, Reading.
Contents
Reference and administrative details of the charity, its trustees and advisers for the year ended 31 December, 2024 .. 4
Trustees’ report for the year ended 31 December 2024 ..................................................................................................... 5 Trustees’ report for the year ended 31 December 2024 cont’d. ......................................................................................... 6 Independent examiner’s report on the accounts for year ended 31 December, 2024 ....................................................... 7 Statement of financial activities for the year ended 31 December, 2024 ........................................................................... 8 Balance Sheet as at 31 December, 2024 .............................................................................................................................. 9 Notes to the accounts for the year ended 31 December, 2024 ........................................................................................ 10 Notes to the accounts for the year ended 31 December, 2024 cont’d ............................................................................. 11 Notes to the Accounts for the year ended 31 December, 2024 Cont’d ............................................................................ 12
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 3
## The Redeemed Christian Church of God-City of Peace, Reading.
**Reference and administrative details of the charity, its trustees and advisers for the year ended 31 December, 2024**
## _**GENERAL OVERSEER**_
## _**Pastor E.A Adeboye**_
Trustees Pastor Oladipo Lawal Pastor Tunde Olagunju Pastor Abayomi Kolade Dr. Dele Alabi Dr (Mrs) Ayobami Bamidele
Charity Registration Number Principal Office
1145566 21, South Street
Reading.
RG2 8TX
## _**Pastor In Charge**_
## _**Pastor Joseph Bamidele**_
Independent Examiner Adebayo OLABISI, FCA, FFA, FIPA 7, Mossbrook Drive, Manchester M38 9TJ. Bankers NATWEST Bank
Market Place Branch, Reading.
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 4
## The Redeemed Christian Church of God-City of Peace, Reading.
## **Trustees’ report for the year ended 31 December 2024**
The Trustees submit their annual report and the Financial Statements of the _**Redeemed Christian Church of God (RCCG) CITY OF PEACE (The Charity)**_ for the year ended 31 December, 2024. The Trustees confirm that the Annual Report and the Financial Statements of the Charity comply with the current statutory requirements of the Charity’s governing documents and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005
The Charity operates under the name THE REDEEMED CHRISTIAN CHURCH OF GOD-CITY OF PEACE.
## **STATUS**
The Charity was constituted under a Trust Deed and was registered in England and Wales with Charity number 1145566.
## **APPOINTMENT OR ELECTION OF TRUSTEES:**
## Trustees are elected and or appointed under the terms of the Trust Deed.
## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES**
The induction process for a newly appointed member of the Board of Trustees comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Pastor in charge on the powers and responsibilities of the Trustees.
## **ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The Charity is organised so that the Trustees meet regularly to manage its affairs. The Pastor in Charge- _**Pastor Joseph Bamidele**_ manages the day-to-day administration of the Charity on a voluntary basis.
**RELATED PARTY RELATIONSHIPS:** _RCCG (CITY OF PEACE)_ is a Parish of the Redeemed Christian Church of God which has parishes all over the world. The Parish’s relationship with other Parishes is governed by an “ _Agreement of Common Purpose_ ”
## **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 the systems are in place to mitigate our exposures to the major risks
## **OBJECTS AND ACTIVITIES**
The principal object is the advancement of the Christian faith worldwide, and to promote any charitable activity for the benefit of the local people through:
- Running seminars in the Church with proven ministers of the faith to guide members in the various aspects of Christian faith;
- Support for other Charities and Christian events.
The activities for achieving its objectives include:
- Community outreach events;
- Conferences and events;
- Welfare support to members and general public; and
- Various missionary activities.
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 5
## The Redeemed Christian Church of God-City of Peace, Reading.
## **Trustees’ report for the year ended 31 December 2024 cont’d.**
**FUNDING AND GRANT MAKING POLICY: The** principal source of funding to the Charity is Donations complimented by Gift Aids. The Charity also give out grants and support in line with its objectives.
**VOLUNTEERS: The** Charity’s activities are carried out by volunteers who provided services in different capacities. It is estimated that over 3,900 hours were provided by volunteers during the year. If this is conservatively valued at current living wage rate of £11.44 per hour, the volunteers’ effort will amount to £44,616.
**REVIEW OF ACTIVITIES:** Trustees record their appreciation to all Donors who supported the Charity to the tune of **£167,357** during the period under review. The Charity also gave out **1,500** in Donation and Grants. The Trustees are satisfied with the success of the Charity in meeting its objectives during the same period; and are optimistic that it will continue to do so.
**INVESTMENTS:** There were no investments during the period.
## **STATEMENTS OF TRUSTEES’ RESPONSIBILITIES**
The Trustees are responsible for preparing the Annual Report and Financial Statements in accordance with applicable laws and regulations. Charity law requires the trustees to prepare Financial Statements for each Financial Year. Under that law the trustees have elected to prepare the Financial Statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Financial Statements are required to give a true and fair view of the state of affairs of the Charity for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently:
- Make judgement and estimates that are reasonable and prudent:
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by the Trustees on 29[TH] January, 2025 and signed on their behalf by:
**Pastor Olatunde OLAGUNJU (Trustee).**
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 6
## The Redeemed Christian Church of God-City of Peace, Reading.
## **Independent examiner’s report on the accounts for year ended 31 December, 2024**
## **TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) CITY OF PEACE**
I report on the accounts of the Charity for the Year ended 31 DECEMBER 2024 which is set out on pages 8-12.
## **RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE 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 145(1) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
- Examine the accounts (under section 145(1) (a) of the 2011 Act;
- Follow the procedures laid down in the general directions given by the Charity Commissioners and
- State whether particular matters have come to my attention.
## **BASIS OF EXAMINER’S STATEMENT**
My examination was carried out in accordance with the 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 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.
## **EXAMINER’S STATEMENT**
In connection with my examination, no matter has come to my attention to give me reasonable cause to believe that in any material respect the requirements:
- To keep accounting records in accordance with the requirement of Section 130 of the Charities Act 2011; and
- To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act 2011
have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SIGNED
## _**Adebayo OLABISI**_ FCA, FFA, FIPA. _**Total Enterprise Support Ltd.**_
7, Mossbrook Drive, Manchester M38 9TJ. DATE: 30[th] January, 2025
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 7
The Redeemed Christian Church of God-City of Peace, Reading.
## **Statement of financial activities for the year ended 31 December, 2024**
|**Notes**
**Incoming Resources:**
Voluntary Donations
2
Gift Aid Claims
3a
Other income
3b
Total
**Resources Expended**
Charitable Expenditure:
Grants Payable-Institutional
4
Cost of Activities in furtherance of Charity's Objects
5
Management and Governance Costs
6
Total Resources Expended
Net Incoming/(Outgoing) Resources
Total Funds at the Beginning of the Year
**Balance at the end of the Year**|**2024**
**£**
167,357
26,364
6,695
**200,416**
1,800
68,651
32,583
**103,034**
97,382
217,499
**314,881**|**2023**|
|---|---|---|
|||**£**|
||||
|||159,174|
|||24,293|
|||1,493|
|||**184,960**|
||||
||||
||||
||||
|||1,500|
|||56,860|
|||22,698|
|||**81,058**|
||||
|||103,902|
|||113,597|
|||**217,499**|
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 8
The Redeemed Christian Church of God-City of Peace, Reading.
## **Balance Sheet as at 31 December, 2024**
||**Notes**|**2024**|**2023**|
|---|---|---|---|
|**Fixed Assets:**||**£**|**£**|
|Tangible Assets|7|4,447|3,311|
|**Current Assets:**||||
|Bank and Cash Balances|8a|356,816|252,910|
|Receivables|8b|0|8,098|
|**Total Assets**||**361,263**|**264,319**|
|**Liabilities:**||||
|Amount Due within 1 Year|9|46,382|46,820|
|**Net Assets**||**314,881**|**217,499**|
|||||
|**Charity Funds:**||||
|General Unrestricted||108,912|16,011|
|Restricted (Property acquisition)||205,969|101,056|
|**Total Funds**||**314,881**|**117,067**|
The Accounts have been prepared in accordance with special provisions of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued in March 2007 as modified for smaller Charities.
Approved by the Trustees on: 29[th] January, 2025. and Signed on their behalf by:
Pastor Olatunde Olagunju
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 9
The Redeemed Christian Church of God-City of Peace, Reading.
## **Notes to the accounts for the year ended 31 December, 2024**
## **Note 1 Accounting Policies**
- **a** The Accounts have been prepared under the Historical Cost Convention in accordance with applicable Accounting Standards. They follow Best Practices as stated out in the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued in March, 2007 as modified for small Charities.
- b) Income is accounted for on Actual Receipt Basis while Expenditures are recorded on Accrual Basis
- c) Fixed Assets: Comprise of Motor Vehicles, Musical Equipment, Office Equipment and Furniture items, and are stated at Cost Less Depreciation
- d) Depreciation is provided at rates calculated to write off the cost of the assets (less expected disposal value) over expected useful lives. The following rates apply:
|Motor Vehicles:|-20%|
|---|---|
|Computer and Other Equipment:|-20%|
|Furniture & Fittings|-20%|
## Note 2 **Donations, Legacies and Similar Incoming Resources**
|Tithes
Offering
Thanksgiving, Building &
Others
**Note 3a**
Gift Aid Claimed
**Note 3b**
Interest received|**2024**
**£**
**108,722**
**20,169**
**38,466**
**167,357**
**26,364**
**6,695**|**2023**
**£**
**96,675**
**18,614**
**43,885**|
|---|---|---|
|||**159,174**|
|||**24,293**|
|||**1,493**|
|||-|
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 10
## The Redeemed Christian Church of God-City of Peace, Reading.
## **Notes to the accounts for the year ended 31 December, 2024 cont’d**
|**Note 4**
**Grants Payable-Institutional**
World Evangelical Mission (WEM)
Central Office Funding
**Note 5**
**Cost of Activities in Furtherance of Charity Objects**
Accommodation & Lodging
Travel and Subsistence
Rent, rates and Licences
Welfare Expenses
Donations & Other supports
Telephone and Communication
Printing and Publicity
Motor Vehicle Expenses
Insurance
Depreciation
Sundry Expenses
Training & Development
Visiting Evangelism and Outreach events
**Note 6**
**Management and Governance Costs**
Pastoral Allowance/ Administrative Honorarium
Legal and Professional fees
Independent Examiner's fee|2024
**£**
1,200
600
**1,800**
798
4,106
38,932
7,622
1,500
977
1,602
2,365
2,811
1,083
165
1,984
4,706
**68,651**
23,402
8,701
480
**32,583**|2023
**£**
1,000
500|
|---|---|---|
|||**1,500**|
|||3,526
4,749
25,107
8,272
3,440
683
1,542
665
1,678
1,330
555
999
4,314|
|||**56,860**|
|||15,703
6,695
300|
|||**22,698**|
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 11
## The Redeemed Christian Church of God-City of Peace, Reading.
## **Notes to the Accounts for the year ended 31 December, 2024 Cont’d**
|**Note 7**
**Fixed Assets**
**Cost**
At 31st December, 2023
Additions during the Year
Disposals
**At 31st December, 2024**
**Depreciation**
At 31st December, 2023
Charge for the Year
Disposals
**At 31st December, 2024**
Net Book Value
**At 31st December, 2023**
**At 31st December, 2024**
**Note 8a**
**Bank Balances**
Bank Balances-Current
Bank Balances-Project
**Note 8b**
Receivables
**Note 9**
**Creditors & Accruals**
Pastorate Allowances
Other creditors
Independent Examiner's fee|**Motor**
**Vehicles**
**£**
10,800
**10,800**
10,790
**10,790**
**10**
**#**|**Computer**
**and Other**
**Equipment**
**£**
6,648
2,219
**8,867**
3,452
1,083
**4,535**
**3,196**
**4,332**
**31/12/2023**
**£**
51,422
201,488
**252,910**
**8,098**
15,703
30,817
300
**46,820**|**Furniture**
**&**
**Fittings**
**£**
2,569
**2,569**
2,464
**2,464**
**105**|**Total**
**£**
20,017
2,219
-|
|---|---|---|---|---|
|||||**22,236**|
|||||-
-
16,706
1,083
-|
|||||**17,789**|
|||||-
-
**3,311**|
||**10**
**31/12/2024**
**£**
44,992
311,824
**356,816**
23,402
22,500
480
**46,382**||**105**|**4,447**|
||||||
**TES/COPR 0125** RCCG City of Peace Reading--Reports for the year ended 31[st] December, 2024 Page 12