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2020-12-31-accounts

Charity number: 1146132

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 December 2020

Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Contents Page For the year ended 31 December 2020

Report of the Trustees 1 to 2
Independent Examiner's Report to the Trustees 3
Statement of Financial Ac�vi�es 4
Statement of Financial Posi�on 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Ac�vi�es 11 to 12

Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Report of the Trustees For the year ended 31 December 2020

The Trustees have pleasure in presen�ng their report and the financial statements for the charity for the year ended 31 December 2020. The Trustees have adopted the provisions of Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and the Republic of Ireland (FRS 102) (effec�ve 1 January 2019).

OBJECTIVES AND ACTIVITIES

RCCG - Praise City delivers it's objec�ves by providing resources and regular services and conferences from its place of worship in Greenwich to the general public and mankind. The charity sets out it's objec�ves as:

Statement on public benefit

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

Volunteers

RCCG - Praise City has many volunteers that assist the Church in achieving its objec�ves.

ACHIEVEMENTS AND PERFORMANCE

During the year, the Church delivered a wide range of ac�vi�es and events to the community through the various services and conferences held. This includes specific ac�vi�es for women and men as well as ac�vi�es for the youth and children.

Sharing the gospel of Jesus Christ is especially beneficial to the lives of the people that hear and receive it. It brings Hope, Faith and Love.

FINANCIAL REVIEW

The Trustees con�nue to place emphasis on financial management to ensure that the funds within the organisa�on are property managed. Thee are good budget controls and they con�nue to monitor costs to deliver a balanced budget for the future.

Reserves

The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to con�nue the Charity's ac�vi�es and are working towards achieving it.

Going concern

At the �me of approving the accounts, the Trustees have a reasonable expecta�on that the Charity has adequate resources to con�nue in opera�onal existence for the foreseeable future. Thus, the Trustees' con�nue to adopt the going concern basis of accoun�ng in preparing the accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

RCCG - Praise City is a charitable trust governed trust deeds established 9 January 2012. The Church received charity status on 28 February 2012. It is managed by a board of Trustees and assisted by a Pastor who is the minister in charge.

Recruitment and appointment of trustees

Trustees are elected by exis�ng trustees in a way that serves the Charity's best interests and Trustees are made aware of the legal responsibili�es they will be taking on.

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Report of the Trustees Con�nued For the year ended 31 December 2020

Charity registra�on number 1146132 Principal address FLAT 15 BENN HOUSE VALLEY GROVE LONDON SE7 8AX

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Olaitan Abiodun Doyin Odewale Pastor Adedamola Timothy Christy Oladele Independent examiner Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dar�ord DA1 1BX

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

28 October 2021

Olaitan Abiodun.............................................................................

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Independent Examiners Report to the Trustees For the year ended 31 December 2020

I report to the trustees on my examina�on of the accounts of the charity for the year ended 31 December 2020.

Responsibili�es and basis of report

As the charity trustees, you are responsible for the prepara�on of the accounts in accordance with the requirements of the Chari�es Act 2011 ('the 2011 Act').

I report in respect of my examina�on of the charity’s accounts carried out under sec�on 145 of the 2011 Act and in carrying out my examina�on I have followed all the applicable Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the Act.

Independent examiners statement

I have completed my examina�on. I confirm that no ma�ers have come to my a�en�on in connec�on with the examina�on giving me cause to believe that in any material respect:

  1. accoun�ng records were not kept in respect of the Charity as required by sec�on 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Chari�es (Accounts and Reports) Regula�ons 2008 other than any requirement that the accounts give a 'true and fair view' which is not a ma�er considered as part of an independent examina�on.

I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dar�ord DA1 1BX

28 October 2021

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Statement of Financial Ac�vi�es For the year ended 31 December 2020

Notes
Restricted
funds
Unrestricted
funds
£
£
Income and endowments from:
Dona�ons and legacies
1,040
63,725
2
Investments
-
3
3
Total
1,040
63,728
Expenditure on:
Charitable ac�vi�es
)
(46,736
)
(2,195
4/5
Total
)
(2,195
)
(46,736
)
(1,155
16,992
Net income/expenditure
Reconcilia�on of funds
Total funds brought forward
4,716
777
Total funds carried forward
17,769
3,561		 2020
£
64,765
3
64,768
)
(48,931
)
(48,931
15,837
5,493
21,330		 2019
£
92,245
2
92,247
)
(69,905
)
(69,905
22,342
)
(16,849
5,493

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Statement of Financial Posi�on As at 31 December 2020

Notes
Fixed assets
Tangible assets
11
Current assets
12
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
13
Net current assets
Total assets less current liabili�es
Net assets
The funds of the charity
Restricted income funds
14
Unrestricted income funds
14
Total funds		 £
2020
2,486
2,486
1,700
18,944
20,644
)
(1,800
18,844
21,330
21,330
3,561
17,769
21,330		 £
2019
3,314
3,314
-
5,570
5,570
)
(3,391
2,179
5,493
5,493
4,716
777
5,493

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Olaitan Abiodun Trustee 28 October 2021

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Notes to the Financial Statements For the year ended 31 December 2020

1. Accoun�ng Policies

Basis of accoun�ng

The financial statements have been prepared under the historical cost conven�on, except for investments which are included at market value and the revalua�on of certain fixed assets and in accordance with the Chari�es SORP (FRS 102) ‘Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019)’, Financial Repor�ng Standard 102 the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102), and the Chari�es Act 2011.

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY meets the defini�on of a public benefit en�ty under FRS 102. Assets and liabili�es are ini�ally recognised at historical cost or transac�on value unless otherwise stated in the relevant accoun�ng policy note(s).

Going concern

At the �me of approving the accounts, the Trustees have a reasonable expecta�on that the Charity has adequate resources to con�nue in opera�onal existence for the foreseeable future. Thus, the Trustees' con�nue to adopt the going concern basis of accoun�ng in preparing the accounts.

2. Income from dona�ons and legacies

Restricted
funds
Unrestricted
funds
£
£
Dona�ons received
1,040
61,325
Grants received
-
2,400
1,040
63,725
3. Investment income
Unrestricted funds
Bank interest receivable		 2020
£
62,365
2,400
64,765
2020
£
3
3		 2019
£
92,245
-
92,245
2019
£
2
2

4. Costs of charitable ac�vi�es by fund type

Restricted
funds
Unrestricted
funds
£
£
34,266
-
Charitable Ac�vi�es
12,470
2,195
Support costs
46,736
2,195		 2019
2020
£
£
54,342
34,266
15,563
14,665
69,905
48,931

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Notes to the Financial Statements Con�nued For the year ended 31 December 2020

5. Costs of charitable ac�vi�es by ac�vity type

Support costs
Ac�vi�es
undertaken
directly
£
£
Support costs
Charitable Ac�vi�es
14,665
34,266
7. Analysis of support costs
Charitable Ac�vi�es
Management
Governance costs
8. Net income/(expenditure) for the year
This is stated a�er charging/(credi�ng):
Deprecia�on of owned fxed assets
Accountancy fees
9. Staf costs and emoluments
Total staf costs for the year ended 31 December 2020 were:
Salaries and wages		 2020
£
48,931
2020
£
9,202
5,463
14,665
2020
£
828
5,463
2020
£
7,150
7,150		 2019
£
69,905
2019
£
7,119
8,444
15,563
2019
£
828
8,444
2019
£
5,550
5,550

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Notes to the Financial Statements Con�nued For the year ended 31 December 2020

10. Compara�ve for the Statement of Financial Ac�vi�es

10. Compara�ve for the Statement of Financial Ac�vi� es es
Unrestricted Restricted 2019
funds funds
£ £ £
Income and endowments from:
Dona�ons and legacies 84,604 7,641 92,245
Investments 2 - 2
Total 84,606 7,641 92,247
Expenditure on:
Charitable ac�vi�es (65,645 ) )
(4,260		 (69,905 )
Total (65,645 ) )
(4,260		 (69,905 )
Net income 18,961 3,381 22,342
Reconcilia�on of funds
Total funds brought forward (18,184 ) 1,335 (16,849 )
Total funds carried forward 777 4,716 5,493
11. Tangible fxed assets
Fixtures and
Cost or valua�on Fi �ngs
£
At 01 January 2020 4,142
At 31 December 4,142
2020
Deprecia�on
At 01 January 2020 828
Charge for year 828
At 31 December 1,656
2020
Net book values
At 31 December 2,486
2020
At 31 December 3,314
2019
12. Debtors
2020 2019
£ £
Amounts due within one year:
Other debtors 1,700 -
1,700 -

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Notes to the Financial Statements Con�nued For the year ended 31 December 2020

13. Creditors: amounts falling due within one year

Accruals and deferred income 2020
£
1,800
1,800		 2019
£
3,391
3,391

14. Movement in funds

Unrestricted Funds
Balance at Incoming Outgoing Balance at
01/01/2020 resources resources 31/12/2020
£ £ £ £
General
Unrestricted 777 63,728 )
(46,736		 17,769
777 63,728 )
(46,736		 17,769
Unrestricted Funds - Previous year
Balance at Incoming Outgoing Balance at
01/01/2019 resources resources 31/12/2019
£ £ £ £
General
Unrestricted )
(18,184		 84,606 )
(65,645		 777
)
(18,184		 84,606 )
(65,645		 777

Purpose of unrestricted Funds

Unrestricted

Unrestricted funds are available for use at the discre�on of the Commi�ee in furtherance of their charitable objec�ves unless the funds have been designated for other purposes.

Restricted Funds

Restricted Funds
Balance at Incoming Outgoing Balance at
01/01/2020 resources resources 31/12/2020
£ £ £ £
Restricted 4,716 1,040 )
(2,195		 3,561
4,716 1,040 )
(2,195		 3,561

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Notes to the Financial Statements Con�nued For the year ended 31 December 2020

Restricted Funds - Previous year

Restricted Funds - Previous year
Balance at Incoming Outgoing Balance at
01/01/2019 resources resources 31/12/2019
£ £ £ £
Restricted 1,335 7,641 )
(4,260		 4,716
1,335 7,641 )
(4,260		 4,716

Purpose of restricted funds

Restricted

Restricted funds are subject to specific condi�ons by donors as to how they may be used.

15. Analysis of net assets between funds
Tangible fxed Net current Net Assets
assets assets /
(liabili�es)
£ £ £
Unrestricted funds
General
Unrestricted 2,486 19,999 22,485
Restricted funds
Restricted - )
(1,155		 )
(1,155
2,486 18,844 21,330
Previous year
Tangible fxed Net current Net Assets
assets assets /
(liabili�es)
£ £ £
Unrestricted funds
General
Unrestricted 3,314 2,179 5,493
Restricted funds
3,314 2,179 5,493

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Doc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Detailed Statement of Financial Ac�vi�es For the year ended 31 December 2020

INCOME AND ENDOWMENT
Dona�ons and legacies
Tithes And Oferings
Other Income
Gi� Aid
Grants Receivable
Investments
Bank Interest Receivable
Total incoming resources
EXPENDITURE
Charitable ac�vi�es
Staf Costs - Wages & Salaries
Adver�sement & Promo�on
Central Ofce
Charitable Dona�ons
Conferences And Mee�ngs
Evangelism And Special Events
Honorarium
Hospitality
Ministry Expenses
Music Expenses
Premises Cost
Training
Welfare Expenses
Books, Cds, Tapes And Periodicals
SUPPORT COSTS
Management
Deprecia�on - Owned Assets
Light And Heat
Ofce And Administra�ve
Insurance
Motor Vehicle Expenses
Print, Post And Sta�onary
Repairs & Maintenance
Telephone & Website
Small Tools & Equipment
Governance costs
Accountancy Fees		 £
2020
49,533
1,040
11,792
2,400
64,765
3
3
64,768
)
(7,150
)
(611
)
(2,850
)
(230
)
(1,339
-
)
(6,066
)
(1,050
)
(348
)
(2,406
)
(10,540
-
)
(1,498
)
(178
)
(34,266
)
(828
)
(602
)
(1,710
)
(260
)
(318
-
)
(2,684
)
(1,470
)
(1,330
)
(9,202
)
(5,463
)
(5,463		 £
2019
48,188
8,183
35,874
-
92,245
2
2
92,247
)
(5,550
)
(1,249
)
(254
)
(80
)
(5,763
)
(176
)
(3,299
)
(549
)
(150
)
(8,923
)
(26,400
)
(246
)
(1,535
)
(168
)
(54,342
)
(828
)
(1,671
)
(1,120
)
(118
)
(271
)
(260
)
(1,334
)
(1,517
-
)
(7,119
)
(8,444
)
(8,444

11 of 12 This page does not form part of the statutory financial statementsDoc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1

THE REDEEMED CHRISTIAN CHURCH OF GOD - PRAISE CITY Detailed Statement of Financial Ac�vi�es Con�nued For the year ended 31 December 2020

Total resources expended
Net Income		 )
(48,931
15,837		 )
(69,905
22,342

12 of 12 This page does not form part of the statutory financial statementsDoc ID: c3f87ba5f8486b87cb6330a3efead6c59f9afda1