THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE DIRECTORS' REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Registration No: 1148317 Company Registration No: 07893561
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE (07893561) CONTENTS
| Page | |
|---|---|
| Administrative details | 3 |
| Director Report | 4-5 |
| Independent Examiner Report | 6 |
| Statement of Financial Activities | 7 |
| Balance sheet | 8 |
| Notes to financial statements | 9-11 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE FOR THE YEAR ENDED DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
| Board of Trustees | AYODELE OJO |
|---|---|
| ORIYOMI YOMI O’PETERS | |
| SINLA O OJO | |
| ABEJIDE JOSHUA YAKUBU-OLUGBENGA | |
| Parish Pastor: | AYODELE OJO |
| Charity Registration No: | 1148317 |
| Company Registration: | 07893561 |
| Principal Office: | |
| 11a Station Road, Swinton M27 6AH | |
| Independent Examiner: | XPATLINK ACCOUNTANTS LIMITED |
| 91, Princess Street, Manchester, M1 4HT | |
| Banker : | Lloyds Bank |
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE DIRECTORS' REPORT FOR THE YEAR ENDED DECEMBER 2024
TRUSTEES' REPORT
The trustees present their Annual Report of The Redeemed Christian Church of God (RCCG) Wisdom Centre for the year ended 31[ST] December 2024 and they confirm that they comply with the Charities Act 2011 and the Charities Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005, in preparing the Annual Report and Financial statements of the charity.
STRUCTURE, GOVERNANCE, AND MANAGEMENT Constitution
The charity is a UK-registered charity with number 1148317
Method of Appointment or Election of Trustees
The management of the Church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed
Policies Adopted for the Induction and Training of Trustees
New Trustees are issued with an orientation pack that details their legal obligations under charity law, the charities decision making processes and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Charities Commission bulletins / updates are also forwarded to Trustees as and when issued.
Organisational Structure and Decision Making
The church is organised such that the day to day running of the church has been delegated to the Parish Pastor and the church administrator. The Trustees are consulted on all issues that are material in nature and determine the strategic direction of the charity affairs. Trustees meet formally as and when required to review the church's operations. The trustees are required by the trust deed to meet at least twice a year.
Connected Charities
RCCG (Wisdom Centre) is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The relationship is governed by an 'Agreement for Common Purposes' between the Parishes and RCCG. Under the Agreement for Common Purposes, Wisdom Centre makes a proportional regular contribution to RCCG Central office (UK). In addition, the church supports missionary organisations such as the Festival of Life.
Risk Management
The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church. The trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems and by examining the operational risks faced by the church, they have established effective systems to mitigate the charities exposure to these risks.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE DIRECTORS' REPORT FOR THE YEAR ENDED DECEMBER 2024 continued OBJECTIVES AND ACTIVITIES
Objectives and Aims
The principal activity of the charity during the year was the advancement of the Christian faith and educating members in the knowledge of God with the power of the Holy Spirit.
To give Christian care and support to all members of the community as necessary.
To organise children and youth activities, to promote unity in the course of developing deeper spiritual growth; To provide hospitality to visiting ministers of the gospel.
To work in co-operation with other Christian organizations and support events to achieve Christian aims and objectives.
Volunteers
The Trustees join with the pastors to appreciate the efforts of many members who not only volunteer their time and skills to provide diverse services regularly, but are also committed to other activities that may arise from time to time in the church. The church has a volunteer coordinator to ensure that the
best value is derived from the efforts of our volunteers.
Reserves policy
The trustees review the Reserves policy of the charity annually. The review encompasses the nature of the income and expenditure stream. The Trustee's policy is generally to maintain reserves at a low level and to apply the charity's income to funding its activities.
Principal funding sources
The church members (congregation) continued to be the main source of income in the form of donations and gifts to the church; Redeemed Christian Church of God (RCCG) Wisdom Centre
Trustees Responsibility Statement
For the Year Ended 31 December 2023
The trustees are responsible for preparing the Trustees' Report and the Financial Statements following applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP; - make judgments and estimates that are reasonable and prudent; - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the trust deed. They are also responsible for safeguarding the charity's assets and hence for taking reasonable steps to prevent and detect fraud and other irregularities.
This financial statement was approved by the Board of Directors on; 02/sept2025 and signed on their behalf by:
Signature Gabe
AJ Yakubu-Olugbenga Trustee
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE INDEPENDENT EXAMINER REPORT FOR THE YEAR ENDED DECEMBER 2024
INDEPENDENT INSPECTOR
We have inspected and prepared the financial statements of Redeemed Christian Church Of God (RCCG) Wisdom Centre Eccles Manchester for the year ended 31[st] December 2024, the statement comprises of: Statement of Financial Activities, the Balance Sheet and the related notes. This report is made solely to the charity's Trustees, as a body, in accordance with Section 144 of the Charities Act 2011 and regulations made under Section 154 of that Act. Our work has been undertaken so that we might state to the charity's trustees those matters we are required to state by law
Respective responsibilities of trustees and auditors
As explained more fully in the Trustees' Responsibility Statement, the trustees are responsible for the preparation of the financial statements, which give a true and fair view.
Opinion on financial statements
In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31[st] December 2024 and of its incoming resources and application of resources for the year that ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011.
Charles Adegoroye FCCA FCA
……………………………………………… XPATLINK ACCOUNTANTS LIMITED
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE (07893561 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED DECEMBER 2024
| Unrestricted | Restricted | 31.12.24 | 31.12.23 | ||
|---|---|---|---|---|---|
| Funds | Fund | Total | Total | ||
| £ | £ | £ | £ | ||
| INCOMING RESOURCES | Notes | ||||
| Donations, legacies & similar incoming resources | 2 | 42,219.00 | 42,219.00 | 26,708.00 | |
| Activities in furtherance of the charity's object | 3 | 613.00 | |||
| Grants received, Gift Aid | 4 | 6,112.00 | |||
| Investment Income | 5 | 13.00 | |||
| Total incoming resources | 42,219.00 | 42,219.00 | 33,446.00 | ||
| RESOURCES EXPENDED | |||||
| Grants payable - individual | 6 | 945.00 | 945.00 | 150.00 | |
| Grants payable - institutional | 7 | 750.00 | 750.00 | 550.00 | |
| Costs of activities in furtherance of the charity's objects | 8 | 34,967.00 | 34,967.00 | 27,116.00 | |
| Management and governance costs | 9 | 806.00 | 806.00 | 1,725.00 | |
| Total resources expended | 37,468.00 | 37,468.00 | 29,541.00 | ||
| Net (Outgoing)/Income resources for the year | 4,751.00 | 4,751.00 | 3,905.00 | ||
| Reconciliation of Funds | -9,112.00 | - | |||
| Fund brought forward | 13,017.00 | ||||
| Fund carried forward | -4,361.00 | -9,112.00 |
The charity's incoming resources and resources expended all relate to continuing activities.
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE (07893561) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING DECEMBER 2024
| 31.12.24 | 31.12.23 | ||||
|---|---|---|---|---|---|
| FIXED ASSETS | Notes | £ | £ | ||
| Tangible Assets | 10 | 718.00 | 1,383.00 | ||
| CURRENT ASSETS | |||||
| Stocks | |||||
| Stocks | |||||
| Debtors | 1,129.00 | 1,129.00 | |||
| Cash at hand& bank | 5,207.00 | 1,688.00 | |||
| LIABILITIES | |||||
| Creditors falling due within 1 Yr | 11 | -8,883.00 | 7,743.00 | ||
| Total current assets less current liabilities | -2,547.00 | -4,926.00 | |||
| Creditors falling due after 1 year | 12 | -2,532.00 | -5,569.00 | ||
| NET ASSETS | -4,361.00 | -9,112.00 | |||
| CHARITY FUND | |||||
| Balance brought forward | - | ||||
| -9,112.00 | 13,017.00 | ||||
| Unrestricted fund | 1h. | 4,751.00 | 3,292.00 | ||
| Restricted Fund | 1i | 0.00 | 613.00 | ||
| TOTAL CHARITY FUND | -4,361.00 | -9,112.00 |
For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
Members have not required the company to obtain an audit of its account for the year in question in accordance with section 476 of the Companies Act 2006 relating to small companies. The directors acknowledge their responsibility:
Complying with the requirements of the Act with respect to accounting records and the preparation of accounts That the accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Gabe
A.J. Yakubu-Olugbenga Director./Trustees
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE
NOTES TO THE FINANCIAL ACTIVITIES FOR THE YEAR ENDED DECEMBER 2024
1. ACCOUNTING POLICIES
- a. Basis of preparing the financial statements
GOING CONCERN
The trustees are confident, after making appropriate inquiries, that the Charity has adequate resources at hand to continue in operation for the foreseeable future. For this reason, they continued to adopt the going concern basis in preparing the Accounts.
b. Accounting convention
The financial statements have been prepared under the historical cost convention, the Charities Act 2011, and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011, and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
c. Financial reporting standard number 1
Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small company.
- d. 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.
e. Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.
f. Governance costs
Governance costs comprise all costs involved in public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to statutory audit and professional fees, together with an apportionment of overheads and support costs.
g. Tangible fixed assets Fixed assets comprise equipment(s), musical instruments, and other tangible assets costing more than £300 or more with a useful life of more than one year. Fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicle(Bus) | 20% on a straight line basis |
|---|---|
| Musical Equipment | 20% on a straight line basis |
| Computers and projectors | 20% on a straight line basis |
| Furniture and fittings | 20% on a straight line basis |
Unrestricted funds are incoming resources received for the objects of the charity without a further specified purpose and are available as general funds
Restricted funds are subject to restrictions on their expenditure imposed by their donors. Amount represents the balance on the building fund.
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE NOTES TO THE FINANCIAL ACTIVITIES CONTINUED FOR THE YEAR ENDED DECEMBER 2024
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2. DONATIONS, LEGACIES, AND SIMILAR INCOMING RE- | 2024 | 2024 | 2024 | 2023 |
| SOURCES | £ | £ | £ | £ |
| Planned giving Collection at all services |
42,219.00 | 42,219.00 | 26,708.00 | |
| Sundry donations Gift aid receivable |
6112.00 | |||
| Total | 42,219.00 | 42,219.00 | 32,820.00 | |
| 3. ACTIVITIES IN FURTHERANCE OF CHARITY'S OB- | ||||
| JECTIVES | ||||
| Building contributions | 613.00 | |||
| Chairs Contributions Others | ||||
| 4. GRANT RECEIVED | ||||
| Coronavirus Job Retention Scheme (CRJS) | ||||
| Feeding The community Scheme | ||||
| 5. INVESTMENT INCOME | ||||
| Interest receivable | 13.00 | |||
| Total incoming Resources | 42,219.00 | 42,219.00 | 33,446.00 | |
| INCOME EXPENDED | ||||
| 6. Grants | ||||
| Individual | 945.00 | 945.00 | 150.00 | |
| 7. Grants | ||||
| Institution | ||||
| RCCG WEM - World Evangelism | 500.00 | |||
| RCCG Centre office | 150.00 | 150.00 | 50.00 | |
| Other Parishes | 500.00 | 500.00 | ||
| GMPTE | 100.00 | 100.00 | ||
| Total | 750.00 | 750.00 | 550.00 |
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE NOTES TO THE FINANCIAL ACTIVITIES CONTINUED FOR THE YEAR ENDED DECEMBER 2024
8. Cost of activities in furtherance of charity objectives
| 8. Cost of activities in furtherance of charity objectives | |||
|---|---|---|---|
| Visiting Speakers Expenses | |||
| Staff Costs | 14,456.00 | 14,456.00 | 14,568.00 |
| Travel and Subsistence | 336.00 | 336.00 | 321.00 |
| Hall Hire, Rent & Rates | 8,315.00 | 8,315.00 | 3,125.00 |
| Community Projects, Worship cost, Conferences & Evangelism | 6,218.00 | 6,218.00 | 6,250.00 |
| Building Maintenance | 1,500.00 | 1,500.00 | 0.00 |
| Insurance | 1,339.00 | 1,339.00 | 1,538.00 |
| Printing, Postage and Stationery | 225.00 | 225.00 | 240.00 |
| Depreciation | 865.00 | 865.00 | 815.00 |
| Interest | 1,713.00 | 1,713.00 | 259.00 |
| Total | 34,967.00 | 34,967.00 | 27,116.00 |
| 9. MANAGEMENT AND GOVERNANCE COSTS | |||
| Examiners fee - accountancy | 550.00 | 550.00 | 550.00 |
| Administrative cost | 256.00 | 256.00 | 1,175.00 |
| Professional fees | |||
| Total | 806.00 | 806.00 | 1,725.00 |
10. FIXED ASSETS
| 10. FIXED ASSETS | ||||
|---|---|---|---|---|
| Motor vehicle | Musical In- | Furniture | Total | |
| £ | strument | £ | £ | |
| £ | ||||
| Cost at Jan 24 | 8,400.00 | 4,380.00 | 3,440.00 | 16,220.00 |
| Additions | 0.00 | 250.00 | 0.00 | 250.00 |
| Disposal | 0.00 | 0.00 | 0.00 | 0.00 |
| at Dec2024 | 8,400.00 | 4,630.00 | 3,440.00 | 16,470.00 |
| Depreciation | ||||
| at Jan 2024 | 8,141.00 | 3,663.00 | 3,083.00 | 14,887.00 |
| Charge for the year | 250.00 | 435.00 | 180.00 | 865.00 |
| at Dec 2024 | 8,391.00 | 4,098.00 | 3,263.00 | 15,752.00 |
| Net book value | ||||
| Dec-24 | 9.00 | 532.00 | 177.00 | 718.00 |
| Dec-23 | 259.00 | 767.00 | 357.00 | 1,383.00 |
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REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) WISDOM CENTRE NOTES TO THE FINANCIAL ACTIVITIES CONTINUED FOR THE YEAR ENDED DECEMBER 20234
| 11. Creditors due within 1 year | |
|---|---|
| Examiners' fee - accountancy | 3,037.00 |
| BBL | 550.00 |
| HMRC | 5,296.00 |
| TOTAL | 8,883.00 |
| 12. Creditor due after 1 yr | |
| BBL | 2,532.00 |
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