THE REDEEMED CHRISTIAN CHURCH OF GOD MY FATHER'S HOUSE, DUNSTABLE Company Reg. No 07888147 Charity Reg. No.11458 DIRECTORS. REPORT AND FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2024
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE CONTENTS Reference and administrative details of the charty Directors, report Independent examinerfs report Statement of financial activtties Balance sheet 10 Notes to the financial statements
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 DECEM8ER 2024 General Overseer Pastor E A Adeboye Directors Pastor. Akintayo Ojo Mrs. Kemi Akinfisoye Mrs. Abiodun Kolawole Dr Adesoji Adesiyan Mr Abayomi AjayF Company registration Number 07888147 Charity registration Number 1145906 Principal Office The Gate Victoria Street Dunstable Bedfordshire LU6 3BA Parish Pastor Pastor Babande Akinfisoye Accountants Eternal Excellency Limited 20 Elmbourne Drive Belvedere Kent DA17 6JF Bankers Barclays Bank PIC Dunstsble Branch 16 High Street North Dunstable Bedfordshire LU61JZ Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE DIRECTORS. REPORT FOR YEAR ENDED 31 DECEMBER 2024 The directors submit their annual report and the financial statements of The Redeemed Christian Church of God My Father's House, Dunstsble (the charity) for the year ended 31 December 2024. The directors, confirm that the annual report and financial ststements of the charity comply wth the current ststutory requirements of the charity's goveming document and the provisions of the Ststement of Recommended Practice (SORP) "Accounting and Reporting by Charits'es" tssued in March 2005. The charrty also trades under the name RCCG - My Father's House, Dunstable, STATUS The charity was constituted as a company Ilmited by guarantee under a memorandum and article of association incorporated on 20th December 2011 and VRS registered on 15th February 2012 as a charity in England and Wales with charity number 1145906. APPOINTMENT OR ELECTION OF DIRECTORS Directors are elected and or co-opted under the terms of the articles of association. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW DIRECTORS The induction process for a ne%%ly appointed director comprises an inrtial meeting with the chair and other directors, followed by short meetings with the parish pastor on the powers and responsibilities ofthe directors. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity is organised so that the directors meet regularly lo manage its affairs. The parish pastor manages the day to day administration of the church. RELATED PARTY RELATIONSHIPS The Redeemed Christian Church of God- My Fatherfs House. Dunstable 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 govemed by an "Agreement for Common Purposes.. RISK MANAGEMENT OBJECTS AND ACTIVITIES The principal object is the advancement of Christian farth worldwide and the relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve its objectives. the church adopted the following strategies.. Running seminars in the church wryth proven ministers of the faith to guide members in the various aspect of Christian faith, Support for other charities and Christian events, Providing overseas aid and famine relief. and Involving in economic and community development Page 4
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE DIRECTORS, REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2024 The activities for achieving its objectives include- . Community outreach events Conferences and events . Welfare support to members and general public, and Various missionary aclivities GRANT MAKING POLICY The church actively supports visiting ministers of the Gospel, both within the United Kingdom and intemationalty. In addition, we contribute to the RCCG Central Office, World Evangelism Mission. Festival of Life, and other RCCG programmes. We also extend support to other charities and missionary organisations that share our mission of advancing the Christian faith and alleviating poverty. From time to time, the church provide5 financial assistsnce through grants to members ofthe congregation who are in PUBLIC BENEFITS .Breakfast Outreach - A community gathering that combines moming worship with a shared breakfast, fostering fellohIp and connection. .Goffee Morning- Held weekly alongside our new food panty. this initiative aims to build community ties and combat loneliness. .Christmas Carol Service - An opportunity for the church to share the joy and message of Christmas with the local community. .VDcats'onal Training- Currentty in development, as the church conlinues to focus on other community inrtiatives. .Baven Project- A charitsble outreach distributing food hampers throughout the year to support less privileged members of the community. .7touth Club- Now resumed in person, the youth club and children's activities provide vitsl emotional support and engagement for young people in the congregation. .Ybruba Prayer Conference- A periodic prayer gathering for communty members of Yoruba descent, offering spiritual enrichment and Cultural connection. .&ood Panty- Provides essential food items to those in need, along wrth meals and refreshments during weekly sessions. A National Lottery grant has helped greatly with enhancing and sustaining this serwice. VOLUNTEERS The church is grateful for Ihe efforts of its volunteers who are involved in providing services for the charty. It is estimated that over 3,000 hours were provided by volunteers during the year. If this is conseprfatively valued at £10.00 per hour, volunteerfs effort will amount to over £30,000. REVIEW OF ACTIKfjTIES The church has continued to experience remarkable growth, both spiritually and phyBically, throughout the year. This progress reflects our ongoing commitment to advancing the Christian faith in line wth the doctrines outlined in our Statement of Faith, as set forth in our Trust Deed. We remain dedicated to finding meaningfvl and positive ways to impact the lives of our members and trie wider community. In particular, our weekly food pantry has been a vital source of support and encouragement to many during these challenging times in our nab'on. Page 5
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTA8LE DIRECTORS. REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2024 INVESTMENT POLICY The directors have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts. RESERVES POLICY The directors have adopted a policy to maintain unrestricted and uncommitted funds (free reserves) sufficient to cover between trwo to four months of operating expenses. This equates to approximately £10,000 to £20,000 in general funds. They believe this level of reserve is essential to ensure the continuity of the church's activities In the event of a significant drop in income. At present, £20,000 has been set aside in the church's reserve account. meeting the upper threshold of the target range. However, the dlrectors are actively WrkIng to secure additional unrestricted funds to further strengthen the church's financial resilience. PRINCIPAL FUNDING Funding has been provided mainly through tithes and offerings by church members and through gift aid receivable. Appeals are also raised for specific projects. FUTURE DEVELOPMENT The charty continues to explore various ways of spreading the gospel of Chrlst In an effective manner. The charfty is also looking to grow in membership and continue to develop its members to make life-changing impact in society. Page 6
THE REDEEMED CHRISTIAN CHURCH OF GOD - MY FATHER'S HOIJSE. DUNSTABLE DIRECTORS, REPORT (Contlnued) FOR YEAR ENDED 31 DECEMBER 2024 STATEMENT OF DIRECTORS, RESPONSIBILITIES The directors are responsible for preparing the annual report and financial statements in accordance with applicable laws and United Kingdom Generally Accepted Accounting Practice. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance wth the United Kingdom Generally Accepted accounting Practi (United Kingdom Accounting Standards and applicable lawl. The financial statements are required to give a true and fair view of the state of affairs ol the charity and of the surplus or deficit of the charity for that Year. In preparing these financial statements, the directors are required to.. Select suitable accounting policies and then apply them consistently.. Prepare the financial statements on the going concern basis unless rt is inappropriate to- Make judgement and estimates that are reasonable and prudent., presume that the company will continue in operation. The directors recognise their responsibilities to keep proper accounting records that disclose wth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets ofthe 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, those report is also appended. Approved by the Directors on and signed on thelr behalf by.. Pastor Akintayo Ojo Director Mrs Kemisola Aklnfisoye Director 15181&¥ Page 7
Eternal Excellency l-hcirtere(I Certifieil Account1< nts Idare." 11 Il¢l%¢arr¢. Nciil IIA17bl rt1122 41n Ml Em.isl." u)frti.creriiAlI,xceJLctscv.o.uk IVI4M'.elvTnJl*xc+llen¢Y.cn.uk Independent Examiner's Report to the Directors of "The Redeemed Christian Church of God- My Father's House, Dunstable" I report on the account5 of the Charity for the year ended 31 December 2024, which are set out on pages 09 to 14. Respective responsibilities of trustees and examiner The chariws directors are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year under section 476 of the Charities Act 2006 (the 2006 Act)) and that an independent examination is needed. It Is my responsibil ity to: examine the accounts (under section 145 of Charities Act 2011; to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145{5)Ib) of the 2011 Act). and to state whether particular matters have come to my attention. Basis of independent examinerfs report 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 directors 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. Independent examinerfs stotement In connection with my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 386 and 387 of the 2006 Act. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of sections 394 and 395 of the 2006 Act 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. Olufemi Oguntunde FCCA I61 ts & | 2
THE REDEEMED CHRISTIAN CHURCH OF GOD - MY FATHER'S HOUSE, DUNSTABLE STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2024 2024 2024 Unre$trtcted Restrlcted Funds Funds 2024 Total Fund$ 2023 Total Funds Notes INCOMING RESOURCES Donats'ons, legacies & similar incoming resources Act'vities in furtherance of ¢harity's object Grant received 132,311 16,427 20,000 168,738 132,311 16.427 2Q,000 168,738 111,030 15,153 190 Totsl Incomlng resources 126,374 RESOURCES EXPENDED Grants payable - individual Grants payable - instilutional Costs of activities in furtherance of charities objects Management and governanGe costs Total resources expended 8,283 131,855 8,283 131,855 1,050 141.188 7,122 112,750 5,865 125,737 141,188 Net (Outuolnq)Ilncome re$ources for ar 27,550 27,550 637 Prior Year Adjustments Total fijnds at the start of the al 8,945 142.898 8,945 142,898 142,261 BALANCE AT END OF YEAR 179.393 179,393 142,898 Movements in reserves and all recorgnised and losses are shown above The charity's incoming resources and resources expended all relate to continuing activities. Page 9
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE Balance Sheet At 31 December 2024 2024 Total Funds 2023 Total Funds Notes FIXED ASSETS Tangible assets Freehold Building 6,819 360,000 366,819 5,702 360,000 365,702 9a CURRENT ASSETS Cash in hand Debtors: amounts falling due after more than 1 year 10 42,320 37,895 42,320 37,895 LIABILITIES Creditor falling due in one year 1,050 950 Creditors fallling due after more than 1 year 11a 228,696 259,748 NET ASSETS 179,393 142,898 CHARITY FUNDS General - unrestricted General - restricted 1d le 179,393 142,898 TOTAL FUNDS 179,393 142,898 (a) For the year ended 31 December 2024 the company was entided to exemption under section 477 of the Companies Act 2006 relating to small ¢onpanies. (b) Members have not required the company to obtain an audit of its account for the year in question in accordance Véith seclion 476 of the Companies Act 2006 relating to small companies. (c) The directors acknovAedge their responsibility for.. i. complying the requirements of the Act with respect to accounting records and the preparation of accounts. 11. That the account have been prepared in accordance 1th the provisions applicable to companies subject to the small companies regime. Pastor Akintayo Ojo Director tslslz Page10
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE. DUNSTABLE Notes to the Financial Statements For the year ended 31 December 2024 1 ACCOUNTING POLICIES (al The accounls are pPared under the histOriC81 cost convention 8nd in accordance with applicable 8ccounting standards. They follow best practices as set out in the Slatem8nts of Recommencled Practice., Accounting and Reporting by Charities ISORPI issued March 2007 as modified for Smaller ¢h8rilies. {b) Income and expenditure is accounted for on an accruals basis. {c) Fixed assets comprise equipments, mLJSiC81 instruments and other tangible assets costing more than £300 or with a useful life of more than one year. Fixed assets are staled al cost less deplation. Depreciation is provided at rale5 calculated lo write off the cost of fixed asse15. less their estr'mated residual value. over their expected useful lives on the following basis.. Musical Equipment Computers and projectors Fumitur8 and fittlng8 -25910 on reducing balance -25Vo on reducing balance -25¥/0 on reducing balance (d) Unrestricted funds are incoming r8sourc85 received for the objects of the charity without further speciefied purpose and are available a8 general funds. le) Restricted funds are subjèct to rèstrictions on their expenditure Imposed by their donors. Amount represents b818nce on building fund, Unrestrlcted Re8trlcted Total Funds Funds Funds 2024 2024 2024 Totsl Funds 2023 2 DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES Collection al all services Sundry donations Gift aid receivable 107,877 3,634 20,800 132,311 107,877 3,834 20,800 132.311 87.586 6,951 16,493 111,030 3 ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECT Building appeal Appeals Mission Events 10,687 10,687 12,588 5,740 16,427 5,740 16,427 2,565 15.153 4 GRANT RECEIVED Interest received National Lottery 190 20.000 20,000 20.000 20,000 190 Page11
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE Notes to the Financial Slalements- wntinued For the year ended 31 December 2024 Unrestrfcted RestCted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 S GRArS PAYABLE- INDIVIDUAL Individual welfare GRA PAYA8LE. INSmTUnONAL Charltablé glvlng - UK CharltablÈ glvlng - Overseas 8,283 8,283 7,122 ,283 7,122 Llst of InstRutlonal grants payable- UK RCCG WEM- Worfd Evangelism RCCG Central Office - Cenlrdl office Support Others Total grant paydble 4,7 4,70J 4,7¢X) 720 1,702 7,122 2,623 8383 8,283 7 COST OF ACMVITIES IN FURThERANCE OF CHARls OBJECTS Visrting Speakers Expenses Staff Costs Travel and Subsistenc8 Admin co8ls Welfrare ard Fkispitality Telephone PrintiThJ, Postage, Stationery & IT Consumables Publicity EventslConfererte$ Finance Cost8 Insurance Worship Cost Office Expenses & Subscriptions Community ProjectslEvangeli$m utilities Youth Group Church Group Repair and V0intenan¢e Cleaning Cost Music & Lrturgy Depreciation Building Works 592 39,049 455 1,Y25 5,897 592 39,049 455 383 34,144 432 1.395 2.204 824 1,024 240 1,712 30,467 1,451 3,314 1,827 5,897 3,414 3,414 3,096 17.576 1,534 17,576 1,534 26,259 7,135 6,021 716 6,547 575 919 2.907 26,259 7,135 6,021 716 6,547 575 919 2.907 549 12.870 4,246 626 8,381 771 925 1,9J1 409 8 MAMAGEMEKf AND GOVERNANCE COSTS Examiners fee- accounlanGy Profe85ional & legal fees 1.0 950 4,915 Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE Notes to the Financial Statements- continued For the year ended 31 December 2024 9 TANGIBLE FIXED ASSETS Musical Computers Fumrture equipments & projectors & Fittings 2024 Totals COST At 01 January 2024 Additions Disposals At 31 December 2024 4,315 9,825 4,024 6,125 20,265 4,024 4,315 13,849 6,125 24,289 DEPRECIATION At 01 January 2024 Charge for year At 31 December 2024 4,315 4,807 2,679 7,486 5,441 228 5,669 14,563 2,907 17,470 4,315 NET BOOK VALUE At 31 December 2024 6,363 456 6,819 At 31 December 2023 1,024 1,024 Year ended Year ended 2024 2023 9a FREEHOLD BUILOING Valuation at Cost 360,000 360,000 Year ended Year ended 2024 2023 10 CASH BALANCES Cash and Bank Balance 42,320 37,895 11 CREDITORS FALLING DUE IN 1 YEAR 2024 2023 Accrued expenses 1,050 1,050 950 950 Page 13
THE REDEEMED CHRISTIAN CHURCH OF GOD- MY FATHER'S HOUSE, DUNSTABLE Notes to the Financial Statements - continued For the year ended 31 December 2024 14 RELATED PARTY TRANSACTIONS During the year, the church paid instutional grants to other RCCG organisations such as the World Evangelism Mission as ststed in note 7. Year ended Year ended 2024 2023 15 STAFF COST AND NUMBERS Staff costs were as follows Wages and salaries Payroll cost staff Pension 32,954 360 1,190 34,504 32,954 360 1,190 34,504 Year ended Year ended 2024 2023 The average number of employee during the year was as follows No. Pastoral 16 NET INCOMING RESOURCESI(RESOURCES EXPENDED) This stated after charging Year ended Year ended 2024 2023 Independent Examinerfs fees 1,050 1,050 950 950 Page 14