**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:
- The advancement of the Chris�an faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule.
- Preaching the gospel of Jesus Christ
- To advance educa�on and empower individuals through Chris�an principles
- Building rela�onships and the family
- Promo�ng a healthy lifestyle to the members and the wider community
- Poverty allevia�on in the community and worldwide
## **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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## **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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## **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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**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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## **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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## **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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**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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**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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**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**|
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**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**|
|---|---|---|
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