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2021-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY TRUSTEES' REPORT AND ACCOUNTS YEAR ENDED 31ST DECEMBER 2021

CHARITY REGISTRATION NO: 1146132

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021

CONTENTS PAGE
LEGAL AND ADMINISTRATIVE INFORMATIO 1
REPORT OF THE TRUSTEES 2 - 3
REPORT OF THE INDEPENDENT EXAMINER 4
STATEMENTS OF FINANCIAL ACTIVITIES 5
BALANCE SHEET 6
NOTES TO THE FINANCIAL STATEMENTS 7 - 10
INCOME AND EXPENDITURE 11

1

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST DECEMBER 2021

CHARITY REGISTRATION NUMBER: 1146132 REGISTERED OFFICE: 15 Benn House Valley Grove Charlton London SE7 8AX TRUSTEES: Olaitan Abiodun Doyin Odewale Adedamola Timothy Christy Oladele PASTOR IN CHARGE Landre Joda ACCOUNTANT Allen Robyn & Associates Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ

2

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY REPORT OF THE TRUSTEES YEAR ENDED 31ST DECEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 31st December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number : 1146132

Registered address

15 Benn House Valley Grove Charlton London SE7 8AX

Trustees

Olaitan Abiodun Doyin Odewale Adedamola Timothy Christy Oladele

Pastor in charge

Alanrewaju Lanre

Independent examiner

Allen Robyn & Associates Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust co-opted 9th January 2012, and constitutes an unincorporated charity. The Church received charity status on the 28th February 2012. It is managed by a board of trustee and assisted by, a Pastor who is the Minister in charge.

The pastor is the person in charge of the church to carry out the day to day management and running of the Church. He is assisted by a team of ministers to whom responsibilities are delegated. The pastor also meets with the members of the church board of trustees and liaise regularly with the them on crucial matters.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Reserve policy

The Trustees aim to retain sufficient free reserves at a level which equates to a minimum of three month unrestricted expenditure. These are retained in order to ensure that the Church can meet its commitments and provide its services and activities to its members.

ThE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE cir REPORT OF THE TRUSTEES YEAR ENDED 31ST DECEMBER 2021 08JECTIVES AND ACTIVITIES Th• Chartty's obJo¢ts are: - The advancement of The Ghristian faFth Wo￿th￿de. prowding reEigK)us kiknvledge and lo promote principles of morality, benevotence and chanty. Th¢ maln activftl•s In relation to thfrs• obJ¢¢ts arn: Preaching the Qospel of Jesus Christ. - To advance educab.on and empower int1Nidual$ through Chns*"an principles. Building relab"onships and the family Promote a healthy lifestye lo our members and the wider communrty Poverty Alleviation locally and overseas Flnan¢lal revlew The Charity's financial ststement for the year ende(131 December 2021 shows a surplus in funds of 1,17812020". £15,837) UnreslrTcled reserves at 31 DeceFnbei 2021 is £18.946.12020.' £17.769) and Restricted ftsnd of £3,561 for both financial year. STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are respon￿ble for preparing the Report of the TTUStees and the financial statements in accordance th applicable law and Unrted Kingdom Accounts"ng Standards (United lQ"ngdom Generalty Accepted Accounting The law applicable to charities in England and Wales, the Charities A¢1 2011. Charity (Accounts and Reports) Regulations 2008 and the promsions of the trust deed reqLFires thè lJustees to prepare financial statements tor each financial year which give a true arKI fair view of the state of affair5 of the chanty and of the incnming resources and application of resources, including the income and wndiiure. of the chawty for that period. In preparing those financial statements, the trustees are required lo" - select suitable accounting policies and then apply them Con￿Stentty. - observe the methods and principles in the Charity SORP.. - make judgements and estimates that are reasonable and prudent., - prepaTe the financial ststements on the going concem basis unless it is inappropriate to preS￿rne that the Charity will Continue in business. The Injstees are responsÈble for keeping proper acc(MJnting records wthich disclose reasonable accurdcy at any time the financial position of the charity and to enable them to ensu￿ that the financial statements comply wth the Charities Act 2011, the Charity IAecounls and RepK)rtsl Regulats"ons 2008 and the prowsions of the trust deed. They are also responsible for safeguarding the assets of the ¢harEty and hence for taking reasonable slèps for the prevention and deleob.on of trdud and other irregulankn"e3. ON BEHALF OF THE BOARD.. Ac¢ountsnts The a¢countants, Mlen Robyn & A$￿¢181e5 Ltd wll be proposed for re-appointment at the forthcoming Annual General Meebng. ON BEHALF OF THE BOARD: Olaltan Ablodun - Trtsstse

4

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY REPORT OF THE INDEPENDENT EXAMINERS YEAR ENDED 31ST DECEMBER 2021

I report on the accounts for the year ended 31st December 2021 set out on pages five to ten.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 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 statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Rolston Allen FCCA

Allen Robyn & Associates Ltd Chartered Certified Accountants 367

Caledonian Road London N7 9DQ Date:

5

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2021

Unrestricted
INCOMING RESOURCES Notes 2021 2020
Incoming resources from generated funds
Voluntary income 2 79,191 64,768
79,191 64,768
RESOURCES EXPENDED
Resources Expended to Charitable Activities 3 57,325 34,266
Governance cost 4 1,806 5,463
Management Costs 5 18,873 9,202
Finance Charges 6 9 -
TOTAL RESOURCES EXPENDED 78,013 48,931
NET INCOME/EXPENDITURE FOR THE YEAR £1,178 £15,837
RECONCILIATION OF FUNDS
Total funds brought forward 21,330 5,493
TOTAL FUND CARRIED FORWARD £22,508 £21,330

None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2015 or 2016 other than those included in the statement of financial activities.

The notes on pages 7 to 10 form part of these accounts.

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY BALANCE SHEEr YEAR ENDED 31ST DECEMBER 2021 restrlcta 2020 FIXED ASSErs Tangible assets 3.391 CURRENT ASs￿s Debtors Cash al bank and in hand 1.700 1.700 CREDITORS: duè wlthln orn year Net Currpnt Assets £19 117 TOTAL ASS￿5 LESS CURRENT UABILMES FUNDS: 2021 Resticted Funds Unrestricted Funds 3,561 3,561 10 The financial ststemenls were approved by the Board of Trustees on . . and were ￿gned on its behalf by.. Olaltsn Abl¢xlun- Truste• The notes on pages 7 to 10 fom) part of these accounts.

7

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102) .The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Accounting convention

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities

Going Concern

At the tme of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to contnue in operatonal existence for the foreseeable future. Thus, the Trustees' contnue to adopt the of the legal responsibilites they will be taking on.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Tithes & Offerings

Income from tithes and offerings, is included in incoming resources when these are receivable Investment Income

Investment income consists of net interest received during the year and accounted for as unrestricted fund

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs.

Governance costs

Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities including apportioned support cost.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible Assets

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

8

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2021

2. VOLULTARY INCOME
Tithes and offerings
Donations and other income
Gift aid
Grants
Interest
Total incoming resources
3. CHARITABLE ACTIVITIES
Wages & Salaries
Advertisement & Promotion
Central Office
Charitable Donations
Conferences & Meetings
Honorarium
Hospitality
Ministry Expenses
Music Expenses
Premises Cost
Welfare Expenses
Books & Periodicals
4. GOVERNANCE COST
Examiners fee
5. SUPPORT COSTS: MANAGEMENT
Depreciation - Owned Assets
Light & Heat
Office & Administrative
Insurance
Motor Vehicle Expenses
Print, Post & Stationery
Legal & Professional Fees
Repairs & Maintenance
Telephone & Website
Subscriptions
Travel & Subsistence		 2021
2020
61,079
49,533
4,936
1,040
10,774
11,792
2,400
2,400
2
3
£79,191
£64,768
2021
2020
28129
7150
957
611
1,700
2,850
1,283
230
2,324
1,339
5,713
6,066
1,395
1,050
3,126
348
3,264
2,406
7,400
10,540
1,265
1,498
769
178
57,325
34,266
2021
2020
1,806
5,463
2021
2020
1,002
828
-
602
16
1,710
40
260
304
318
1,248
1,330
584
-
13,233
2,684
419
1,470
1,516
-
511
-
£18,873
£9,202		 2021
2020
61,079
49,533
4,936
1,040
10,774
11,792
2,400
2,400
2
3
£79,191
£64,768
2021
2020
28129
7150
957
611
1,700
2,850
1,283
230
2,324
1,339
5,713
6,066
1,395
1,050
3,126
348
3,264
2,406
7,400
10,540
1,265
1,498
769
178
57,325
34,266
2021
2020
1,806
5,463
2021
2020
1,002
828
-
602
16
1,710
40
260
304
318
1,248
1,330
584
-
13,233
2,684
419
1,470
1,516
-
511
-
£18,873
£9,202		 2020
2020
7150
611
2,850
230
1,339
6,066
1,050
348
2,406
10,540
1,498
178
34,266		 2020
2020
5,463
2020
828
602
1,710
260
318
1,330
-
2,684
1,470
-
-
£9,202		 2020
5,463
2020

9

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31ST DECEMBER 2021

SUPPORT COSTS: FINANCE CHARGES
Bank Charges		 2021
£9		 2020
-

6. SUPPORT COSTS: FINANCE CHARGES

7. STAFF COSTS

No employees received emoluments in excess of £60,000.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.

The average number of employees analysed by function :
8. FIXED ASSETS
COST
At 1st January 2021
Additions
DEPRECIATION
Opening Balance
Charge for the year
NET BOOK VALUE
As at 31st December 2021
As at 31st December 2020
9. CREDITORS : Amounts falling due after one year
Other Creditors		 2021
2020
1
1
Fixtures and Fittings
Total
4,142
4,142
1,907
1,907
6,049
6,049
1,656
1,656
1,002
1,002
£2,658
£2,658
£3,391
£1,484
£2,486
£2,486
2021
2020
£1,176
£1,800		 2020
1
Total
4,142
1,907
6,049
1,656
1,002

10

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2021

10. MOVEMENTS IN FUNDS
Restricted Funds
Restricted Fund
General fund for the year
General fund brought forward
Total funds
10. MOVEMENTS IN FUNDS
Unrestricted Funds
General Fund
General fund for the year
General fund brought forward
Total funds
Total Funds		 Incoming
Resources
-
Incoming
Resources
£79,191		 Resources Expended
-
2021
-
3,561
£3,561
Resources Expended
£78,013
2021
1,178
17,769
£18,947
£22,508		 Movement in Funds Movement in Funds Movement in Funds Movement in Funds
-
2020
(1,155)
4,716
£3,561
Movement in Funds		 -
2020
(1,155)		 -
2020
4,716
£3,561		 4,716
£1,178
2020
16,992
777
£17,769		 £1,178
2020
16,992		 2020
£21,330

11

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE CITY INCOME AND EXPENDITURE YEAR ENDED 31ST DECEMBER 2021

Incoming Resources:
Voluntary income:
Tithes and offerings
Donations and other income
Gift aid
Grants
Interest
Total incoming resources
RESOURCES EXPENDED:
Cost of generating voluntary income
Charitable activities:
Wages & Salaries
Advertisement & Promotion
Central Office
Charitable Donations
Conferences & Meetings
Honorarium
Hospitality
Ministry Expenses
Music Expenses
Premises Cost
Welfare Expenses
Books & Periodicals
GOVERNANCE COST
Examiners fee
SUPPORT COSTS: MANAGEMENT
Depreciation
Light & Heat
Office & Administrative
Insurance
Motor Vehicle Expenses
Print, Post & Stationery
Legal & Professional Fees
Repairs & Maintenance
Telephone & Website
Subscriptions
Travel & Subsistence
SUPPORT COSTS: FINANCE CHARGES
Bank Charges
Total resources expended
Net Surplus		 2021
2020
£
£
61,079
49,533
4,936
1,040
10,774
11,792
2,400
2,400
2
3
£79,191
£64,768
28129
7150
957
611
1,700
2,850
1,283
230
2,324
1,339
5,713
6,066
1,395
1,050
3,126
348
3,264
2,406
7,400
10,540
1,265
1,498
769
178
57,325
34,266
1,806
5,463
1,002
828
-
602
16
1,710
40
260
304
318
1,248
1,330
584
-
13,233
2,684
419
1,470
1,516
-
511
-
£18,873
£9,202
£9
-
£78,013
£48,931
£1,178
£15,837