THE RÈDEEMED CHRISTIAN CHURCH OP (IOD PSe cy TRUSTEES. REPORT AND ACCOUNTS YEAR ENOED 31ST DECEMBER 21J24 CHARITY REGISTRATION NO.. 1146132
THE REDEEMED ¢HRISTIAN CHURCH OF GOD PRAlSe crry FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024 CONTEhlTS PAGE LEGAL AND ADMINISTPATIVE INFORM4TION REPORT OF TrIE TRUSTEES REPORT OF ThE INDEPENDENT EXAMINERS STATEMENTS OF FINANCIAL ACTMTIÉS BALANCE SHEEr NOTES TO THE FINANCAAL STATEMENTS 7-10 INCOME ANO EXPENDITURE
TrIE REDEEMEO CHRISTIAN CHURCH OF GOD PIIAISE crry LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDEO 31ST DECEMBER 2024 CHARITY REGISTRATION NUMBER.. 1146132 REGISTERED OFFICE.. 36 Louisrfo Av•nu• fy'lhnghom Kent ME7 4EJ TRUSTEES.. Ol*tan AbJun Clwty lJo¢Jg19 Adodamola Tirnothy •dwn CthwJ PASTOR N CHARGE olr¢w th10 ACCOUNTANT S&V 8(d Acoxtntants Ltd Chantses & C•riifigd A¢¢4untonts Brunel W•y K•fit DA1 SGA
THE ftEDEEIIED CHRISTIAN CHURCH OF GOD PRAISE crry REPORT OF THE TRUSTEES YEAR ENOED 31ST DECEMBER 2024 The trus1885 pr8s8nt their raporl with the finAnc4a statemènts of th• ehairty for th• y•ar •nd•d 31st DKernbgr 2024. Thg truatgts have adopted Ihg pffjw$i$ ofthe St41gm¥nt of R•¢omm•nd8d PrJcOcg ISORPI knountiNJ And R•portifig by Chan'ts.. i88u•d In MarcJ 2rJ)5. REFERENCE AIID ADMIN18TRAIIVE DETAU R•91•1orod 4ddr••• 36 LOUIS118 Av•nu• Gillingham K•nl. ME7 4EJ Tru•t••s Abkun Christy 018dele doyin Odowal 8damola TirN)Ihy P••tor In ¢h•ry• Olanrowaju Joda Ind•p•nd•nt •x•mlr Wunmi Shltta, FCCA S&V Bond Accountsntl Chant9 & 8u&n•J8 Cermed Accwni•nts Bruno1 Way Dartford K•nl DA15GA STRUCTURE, GOVERNANCE AND MANAGEMENT Gov•rnln9 do¢um•nt The ¢h8rity 18 ¢onlrdled by its gmmino docum•nt. o d••d of trust cwpled 9th January 2012. and eonsirtuies an unlncoiporatsd chorlty. The Church rec8W charlty St8tus on Iho 28th February 2012. tt 18 mwag•d by A board of bw8tee and amls1 ty, a Pa$tor **#) 1$ lh• Minist•f in char9•. Th8 Pastor 15 the pgrson In tharga oltho church lo cary out day io day manag8m8ni #nd runnlng of the crCh.He is 8$si$téd by a tearn of ministérs to r•spxJnsibililies are delegate The pastor mèèts with Ihe momb•rsof th• church board of Iru$to08 aThJ li•is• rogurtY th•m on tyud•l m•tt•r•. Rl•k manag•m•nt The tru$iees havts a duty 10 hltsntify and revkn ri9ks to whh the charity is •xwd and to •Ur• appropflata conlrols are P¢0 to pro¥e reasonable as6urance a98inst fraud and ewror. poiKy The Ttee$ alm to relain suffiaenl fm resery88 #1 a level equales lo a rnSnknum of three rnonlh unr•$trith(l expendilur•. Th999 #re r•tain•J In ord•r to •nsurn that thg Church m•8t I txjrnmhments and pro¥hJo tts $9th8 ONI to its m8mbws.
finano ststts b)r•ach yarthich & In 1gT¥•w oflb8 $1* of•ffar5 ofl required to." knnual General ON p£FLP Q <Jah¥n . TFLthg . l)ate. 25
THE REDEEMED CHRISTIAN CHURCH OF GOD PRA18E crry REPORT OF THE INDEPENDENT EWIPIERS YEAR ENDED 31ST DECEMBeR 2024 I report on lor IM y•ar •nd 31st >)24 6•t on p¥g08 fv0 lo t•n. R•¥p•¢¥• r••pon•lblllll•• gf trU•t••i and •x•mln•r Tha charitys trus¢o8s (who ar• dgo th• Llit8Ct(n f¢y the purpjw OfmplY bwl •r• r•spMt4• for th• praparatSon of the acc4)unl8. The chartys trust888 COnder that an audl 16 not r8quir•d fortr46 yeaf luThJer Seclv)n 144121 ol the Chariti•8 Act 2011 Ilho 2011 Aclll aThJ thai an 1nd•j•nt Havbry sotisfl•d MY11 that th• thaty Is rv)t sut4eGt to autht und•rcwwny low Ind dkJlbl• for Ind8nd$t 0xam1f1th. It 1$ my respon61ty to: - gxamin8 Iho c•t8 ufidor S•ctw 145 ¢y lh• 2011 - to foll¢)w the procedures lald down In the Ggnerol DlrecOon6 gfvon ty Ch•ity cornm1 (under Soclion 1451Sllbl ol the 2011 Acll. and . lo 8t•1• wth•thr p•rtlcArf•f m•tt•ry4 h•v• eA)m• to my altwth(. B•¥l• ol Ih• Ind•p•nd•nt •x•mln•e• r• My o¥aminawon w89 ¢srn•a oui In ncé w#n In• iJ•ii•rni uir•ciion• glTrrtn Dy me lnanty Commlgskjn. An exarnlnakn Indudej a r•vi•w ¢1 th• #t¢untt¥j rorLd8 kopl by the chartty and a eomparlson of the acnts pres8nt8d I1h tlTh• rocords. 1181so Indudos wislder•lk)n of any unu•u•l it•m8 or di$do6ur¢$ in lh• 4¢Unts, 4nd a•okiryJ •xpl•n81iM$ frorn yw 8$ Iru¥l••$ ¢¢9M1n9 )ny 8uch motler8. Th8 prrK8dure# undertAkon do N>t protld• 81 ts 8¥Adeo thal vukl roqulred In •n audlt, and cw¥¢qu8nty no opknknn i as to the ac£ounlg prnnI • Iru• and f•ir Ind•p•nd•nt •xmIn•$ •thtsm•nt In Confi110n wSlh my 8MInatn, no rn8ttor ho¥ wrng to my an•nlon- 111 which gives rne reasonab eau8e lo beh"e¥e thot. In ony malerial respect, th8 rnQUif•monl8 . to kogp a¢w1n'rrfJ roeords ift •ceord8ne• %%ith sect 386 and 387 of the Companiea Aet 2008," •n( - to prer accoun whkh 8ccoryJ ¥1h th• Kcounbng r•tuds. cornpty ¢h t •ccounOng requiremoni$ of Seclions 394 gnd 395 of the Comp8nin Ad 2(Th •nd wth Ihe m8lhods gnd principl•s of the Stalem•nt ol R•crrj•d Pr8eiic•". Accnb"r$ and Rewtinq by Chariti•s hav• not b••n m•t: Of 121 lo which, In rny opifik, Ott•nlon b• dr8n in order lo enoblp 8 Pfwr und•r8tandlno of the accounts'io be r8a¢hod. Wunml sh. FCCA S&V Bond Aeeountanis Lid Brunel Way Dartlord. Kont DA15GA Dat•.' 2710912025
THE REDEEMED CHRISTIAII CHURCH OF GOD PRAISE CITY STATEMENT OF F4ANCIAL ACTMTIES YEAR ENDED 31ST DECEMBER 2024 WCOMING RESOURCES Incomlng r•sour¢•s from g•n•rnt•dhfftd VUntary inc Not•• 2024 2023 108,438 RESOURCES EXPENDÉD R•sourc•8 Expandod to CrItIlI A¢U¥ Govemanc8 Cost Suppot •nd Man•o•rn•ni Co•ts 97.205 2.434 10.930 88.978 4.863 TOTAL RE80UftCES expENDED NET INcOmExpENDITuRE FOR THE YEAR 2.1321 É5.130 RECONCILIATION OF FUN08 Total fvnd• brought fort¥wd TOTAL FUND CARRIED FORWARD None of the chorltfs actiwlies re acqulred or dLsconllnwl dwing Iha yèar 8ThJ thèrè no Ini$•d galng and108988 lor 2023 2024 Olr than th08e Ir1J00 in tha sta1•nnt ol finAna•l T8 M p•Jo$ 7 to 10 fomi part ol Vws• Kc4JJnt8.
1¢130 2J74 D•biorn C••h •t j FUNDS: 10.630 Unr•strh#•¢l FwKI• 7,774 10 Olaltan A D•¢0
TrIE REoeeMeD CHRISTIAN CHURCH OF GOD PRAISE CI NOTes TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024 1. ACCOUNTING POUCES Basis of preparing th• flnancl•l Blaiqm•nts Th• finanoal statom•nts have b8en pr•paf•d in acccrfdance Yèilh Accounting and R•pling by Chari¢les ststemenl of Racornmendod Practir apdicabkn fo charibes preparfng thelr accounti in accordance wilh the Financi81 Reportjng SlaTrdord appkbkn in UK and R•pubk of Ir•l#nd IFRS 1021 l•lf8 1 January 20151- IChanli•6 SORP IFRS 1021.Th• Fina181 Rewrting Standard 8pph'cot4e in lh• UK and R•ptsW of Ir•laThY IFRS 1021 &nd ComwbM Aa 2W. Accountlng conv•nll¢y The fin8nti81 $18tgrnents h8¥• b••n pr•pw•d und•r lh• h11c•1 ts)st eonv•ntyM, th thg •xwtion ol nveStyenlS which a Inthded at mark61 rdlue. Ihe Chathes Ad 20118nd thg requlreTrén¢8 01 th? Sta18rnent ol Reclmnded Pradkg, •lccwUng R•pof¥ng by Charlbos In¢omlng r••our All Incomlna rosourc•s or• Ind th• &alwnonl of FingrKthI Aedvth•S t•rfty b1•g•ly entmtd to tho IneAYM and t •m¢nI ean b• qued wAth ro•8on•bkn &wir¥cy. Tllh•• & Off•rln9• In¢om• from tith•s and off•rfno1. 61 In Inrth r•8(yJre•6 thu• •rn r••4¢ Invoslmant Income In¥a$tmgnt incom• Con8•• of Int•r••t e¥•d durlr4 th• y•w ¥rvJ Kcount•d for a• unr••irfct•d fvi Rboure•• •xp•nd•d Expernditure 13 accounted on •n owujls WKI h•8 beon h8•ding8 that oqgfegol all eostrdai•O to tho c¥legory. wr• c061$ unnol bg diratly attributsd to partleullr h••dTrNJ• th•y hovg 1)een •llotstsd 10 acuv1tI ¢)n • ba81• eon8i8tsnt th the u8e of resou8. ChaNtaI& actlvllkns Co8t6 01 charilablg ar• I)1• ¢osw rnkqting to lh• carrl•d out io mget tho objKIv•• Chu. Th•w InckKh bolh dlrnclty •ltsItl¥blfj cg5ts •hJ appth1bJ)•d SUPFat CO8t•. Gov•manc• coglg Gov•rnan¢e c0618 af• Ih• costs •Hw8t•¢ wilh th• •trat•gk dY•¢lion ol th• 0ryanll•tk and wlh meelng regulotsry IpOnSIbIl1 Inckvlir4 eppryl1tyd $upp>t cost. T•nglbl• flx•d D¢pre¢igts•n 1$ provid•d ai th• ft4knbin9 Ann1 r•t•s M ¢)r(ler ty writ• off •ss•t ow ils •ibmat•d Tonglble Ag¥•ts Tho eharfty is 8x•mpl fw cOrFraOn IAX on R8 ¢h1• Fund kcounllng Unrosthcie¢ fiJn¢$ can be In wlh the thafitaL4è cty(ves ot the dlscrevon ol th? Irustee¥. R?strictèd lufids e#n ¢Y b8 u0 lor partUknr feslnc¢gd pur[ wthin ihè oty'ècts ol th tharlty. Rosirfcilons when sp8¢Trled by the donor or when funds are ralsed lor paTfjcul#r rntrtcl•d Further eyplaneoon of Ihg nature puw ot e8ch fvnd Is In the ¢68 to the flnondpl
THE REDEEIIED CHRlSnAN CHURCH OF GOD PRAISE Clf¢ NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024 2. VOLULTARY INCOME 7tth8s and off8fing8 Donations and oth•r inp Glft aid Bank Iniarnst 85.028 3.192 20.148 87,438 4.346 Tot•1 incomiry resour 3. CHARITABLE ACYMYIES W89è$ & Salart•s Adv8rti58menl & PrOft Corlral Office Ch8rf1aWe donatk)n• Conforence & Honor8rtum Hospilallty Mlnistry Expon8OS Mu&c Expons•# Pr•mi3o$ ¢9¥1 Wellare Books & PenodicalB Wortd Evang•lisUc MSon ChurthOffic• Eaulpm8nt 5.570 1.459 3,2C*) 7.200 973 2,100 8.177 2,568 5.888 2.575 4.035 7,819 28,920 8,813 1.397 5.116 2.599 3,374 3.213 536 1.992 8,232 97 4. GoveRNANCE COST Atant and ExamlFK•r L•gal and prol88$k>nal le•• 2.434 2,884 & 8UPPORT COSTS: MAP4AGEMeNT OIfic8 & Adminislrabv8 Man88 0Xn$past0r01 Insurance RèpAir8 and Matht•nan Telephon¢ and Inlam•t Trnv81 & Subslstence Bank ChDroas 2,906 5.506 573 4.744 1,721 615 7.2C 979
ThE REOEEMED CHRISTIAN CHURCH OF GOD PRAJSE crr NOTES TO ThE ACCOUNTS. CONTWIUED YEAR ENDED 31ST DECEIIBER 2024 SUPPORT COSTS: FINANCE CHARG&8 Bank crgO8 7. STAFF COSTS No empk)ye66 recew •nmonts On •x¢em of £.0c. Trn•t••' •xp•n8•1 I here were no tru5t888' expen8 tor the yw •n(l•J J1¥1 UlY9r IT)d4 ncff tor the >ar ended 31¥t D8cernt•r 2023 Th• •verthJg Nmb•r ol •mFk>••s an•ty¥gd by luncihjn & FIXED Assefd COST At 1st January 2024 5,87S 1,899 7,774 DEPRECIATION Openlng 8alan Charg• lor th• y•81 S,875 1.899 7.774 1,943 9.831 4,407 1,424 Adglltsc NEf BOOK VALue As at 318t DK8fflbef 2024 As at 31st C>ètémbar 2023 . CREDITORS . AM•ts f*llSThJ du• •ftw on• Oth•r Cr•OItcrf8
10 THE REDEEMED CHRISTL4N CHURCH OF GOO pRsE cirf NOTES TO THE ACCOUNTS YEAR ENDED 318T DECEM8ER 2024 10. MOVEMeNT8 IN FUNDS Unr••trtct•d Fund• General Fund G8n•ral fijnd for th6 Or GM•rnl frjnd broh1 forw•r 12.1321 5,830 Total fund*
11 THE REDEEMEO CHRISTLAN CHURCH OF aoD PRAISE crry INCOME AND EXPENDITURE YEAR ENDED 31ST DECEMBER 2024 2023 comlng R•8ourc••: Voluntsry In¢om•: Tith ond off•ring$ DonaOn8 and oth•r Incor Gift aid Intewt 85,0 3.192 20,148 72 87,438 23,486 Tol81 Incomlng f•sovrces RESOURCES EXPENDED.. Cost of g•n•ratlng ¥oluntry In¢¢•n• ¢harftabl• •CtIv1•S.' Wag•8 & S8lad8s Advertisement & PromotlLNn Contral Office Charitsbl? donallons Conference & Meeyngs Honor8FIurn HoapitalSty Mlnlstry Exp8tiit8 Jjic Exp•nw• Pr•rnl8•8 CO•t Well•re Book$ & P•riodl¢AI$ Wcrfd Evangellstlc MIs8loD Churchl Offlc• E•vlpmrt 5.570 1.4S9 7,21J) 973 5CX] 8,876 2.se8 5,888 2.275 4,035 7,619 26.920 8.813 4.526 1.397 5,116 2.599 3.374 4.360 3.213 535 1.992 7,836 GOVERNANCE COST Accn1•ni andEx¥miners fee Le9 and prol&88lonal fe06 SUPPORT COSTS: MANAGEMeNT OffKo & Admini$tr8ts ni• •xpens•glP88Icfal Insuranc• R•pair4 gnd Moint•n•nc• Td•phon• and Int•m•i Travel & Subslstence 8¥nk Chprg 1.042 7.2CQ 2.906 5.508 S72 4.744 1,721 615 11 979 11 Tot41 r•*•urts• •xp•nd•d N•t 8urplu•