THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
Company Reg. No 8062791
Charfty Reg. No 1148330
LONDON ACCOUNTANCY PRACTICE
SOJOURNER TRUTH COMMUNITY CENTRE
161 SUMNER ROAD
LONDON SE15 6JL.
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
{A company Ilmlted by guarantee)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
Pago
CONTEPUS
Admlnlstratlve Inforrnatlon
Report of the Trustees
44
Independent ExamIne￿S Report
statement of Flnan¢ial Actlvlties
Balance Shaèt
Notes to the accounts
Detalled Income and Expendlture
12
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
(A company limited by guardnlee)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
Goveming Document
The RCCG is an incory￿rated organisalion governed
by the Companies Act 2006 as a company
limtted by guarantee with the Company Number
8062791 and Charity Number 1148330.
DIRECTORS AND TRUSTEES Mrs Folake Stssunke...
Mr Femi Ogundipe.....
..Chairperson
Secretary
COMPANY SECRETARY
Pastor Julius Adetoro
REGISTERED OFFICE
THE REDEEMED CHRISTIAN CHURCH OF
GOD SOLUTION ASSEMBLY NORTHAMPTON
28. Nova Close
Overtone
Northamplon
NN6 OSH
BANKERS
Barclays Bank Pk
Weston Favell
Northampton
INDEPENDENT EXAMINER
London Ac¢ountancy Practice
Sojoumer Tiulh CentTe
161 Sumner Road
London SE15 6JL
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
(A company limited by guarantee)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
OBJECTS AND PRINCIPAL ACTivrriES
The advan￿rnent of Christian failh.
To provide church services and
Conduct religious worship.
Relief sickness and
Preservation and protection of physical and mentsl heafih
To relieve poverty
ACTIVITIES. DEVELOPMENTS AND ACHIEVEMENTS:
{See the RCCG separate Annual Report)
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
(A company Ilmited by guarantee)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
STATEMENT OF DIRECTORS, RESPONSIBIUTIES
Law applicable to incorporated companies in England and Wales requires the trustees. who are
also the directors of the company. to prepare financial statements which gNe a true and fair view
of the state of affairs of the charity at the end of the year and of its financial activities during the
year then ended. In preparing those financial statements. trustees are required to:
select suitable accounting policies and apply them consistently.
make Judgements and estimates Ihat are reasonable and pruden(
state whether applicable accounting standards and staternents of
recommended practice have been followed. subject to any material
departures disclosed and explained in the financlal statement, and
prepare the financial statements on the going concem basis unless it is
inapproprtate to presume that the project will continue in operation.
The directors are responsible for keeping proper records which disclose at any time the financial
position of the project. They are also responsible for safe guarding the assets of the organisation
and hence for taking reasonable steps for the preventK)n and detection of fraud and other
Irregularities.
Signed by:..
Secretary
..2023
Femi Ogundtpe
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
(A company Ilmlted by guarantee)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
FINANCIAL REVIEW
The results of the yearfs operation are Set out in the attached financial statements. During the year.
the income of £79,756 was received against the expenditure 01 £60.668. The surplus lor the year
was £19,088 and reserve for the year ended 31 May 2023. was £104.725. Included in the reserves
was unrestricted lund of £100.502.
The trustees have been aware of the need to comply with good practice guidelines issued by the
Charity Commission on free reserves and the RCCG Solution Assembly's policy is included in the
notes to the accounts.
RESERVES POLICY
The trustees have reviewed its free reseNes policy and have tumed its entire unrestricled fund Into
an emergency reserve to enable the RCCG to meet its obligations In the evenl of a shortfall in
Sncome or sudden uptum in expenditure.
RISK MANAGEMEKr
The Irustees have examined the major risks which the RCCG faces and believe that by
maintaining our free reserves al a reasonable level. combined with our annual review of the
controls over key financial systems, this will provrde suffiGient reSoUr￿S in the event of adverse
conditions. The trustees ￿￿11 have to examine other operatK)nal and business risks which the
organisation may face and establish systems to mttvJate the significant risks.
TANGIBLE FIXED ASSErs
The organisation keeps an asset register.
VOLUNTEERS
The RCCG recognises the significant contributions made by volUnt￿rs.
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD
(SOLUTION ASSEMBLY)
ON THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
I report to the charity trustees on my examlnation of the accounts of
The Redeemed Christian Church of God (Solution Assembly) for the
year ended 31 May 2023 as sel out on pages &10
Responslbllities and
basis of report
As the Charity's trustees of the Company (who are also the directors of
the company for the purposes of company law), you are responsible for
the pteparalion of the accounts in accordance with the requirements of
the Companies Act 2006 fthe 2006 Acr).
Having satisfied myself that the accounts of the Company are not
required to be audited lor this year under Part 16 of the 2006 Ad and
are eligible for independent examination. I report in respect of my
examination of your charity's accounts as cattied out under section 145
of the Charities Act 2011 nhe 2011 Acf). In carrying out my
exarnination, I have followed the Directions given by the Charity
Commission (under sectlon 145(5}(b) of the 2011 Act.
Independent
examlnerfs statement
[1 have completed my examinatKin. I confinn that no material matters
have come to my attention (other than that disclosed below ') which
gives me cause lo believe that..
' accounting records were not kept in accordan￿ with section 386 of
the Companies Act 2006.. or
. the a¢￿Unts do not accord with such records: or
• the accounts do not compty wilh relevant accounting requlrements
under section 396 of the Companies Act 2006 other Ihan any
requirement that the a¢xounts give a Itue and fail view which is not a
matter considered as part of an Independent examination: or
.the accounts have not been prepared in accordance with the Charities
SORP (FRS102).
I have no COn￿mS ar￿ have come across no other matters in
connection with the examination to which attention should be drawn in
this report in order to enabl8 a proper understanding of the accounts to
be reached.
Signature....
..2023
Ade Adebambo. MBA. ACMA3CG
London Accounlanry Pradice
161 Sumner Road
London SE15 6JL
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IHE REDEEMED CHRISIIAN CHURCH OF GOD
80LUTION ASSEMBLY
STATEMENT OF FINANCIAL ACIMTIES
FOR IHE YEAR ENDED 31 MAY 2023
Unre•tslcled Restrlctsd
Fund
Fund
2023
Totsl
2022
Total
INCOMING RESOURCES
Legaaes & Donatio
1Th￿s￿￿7n¢0Me. Ba￿ Interesl
79,616
140
79,756
79,616
140
65,987
RESOURCES EXPENDED
Direct Charitable Costs
42,975
Net Irronyro Resow
19,088
19,088
Balan￿ Bro￿￿ FoThwdrd
81.414
85.637
62,639
Bala￿e C8nied Forward
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THE REDEEMED CHRISIIAN CHURCH OF GOD
SOLUTION ASSEMBLY
BALANCE SHEET AS AT 31 MAY 2023
2023
2022
CURRENT ASSETS
Cash In Bank
105 525
105,626
88,387
86,387
CURRENT UABIUTIES
Cred5tors arKI Acu
750
104.725
85.837
REPRESENTED BY
FUNDS:
Uniestrided Fuxl
Restrided FUKI
100.502
81.414
4,223
86,637
For the period ended 31 MAY 2023 the Company was entil￿d to exemption from audit under
section 477 of the Companies Act 2006 ielating to small companies.
Oirectors. responsiblltlEs:
the members have not iequired the company to obtain an audit of its accounts for the year
in question in accordance with section 476.
the dlrect015 acknowledge their responsibilities for Gomplying with the requirements of the
Act with respect to accounting records and the preparation of the accounts
these accounts have been prepared in accordance with the provision applicable to
companies subject to the small companies, regime.
The financial statements on pages 8 to 9 were approved by the board of directors on
..2023 and signed on ils behalf by
Sign.
..Direcior
Folake Sodunke
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUTION ASSEMBLY
(A company Ilmlted by guarantee)
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2023
ACCOUNTING POLICIES
1.1 Basls of preparallon of Flnanclal Statsments.
The financial stalements ate prepared under the hlstorlcal cost convention and include the
results of the charity's operations which are described in the Directors, Report and all of
which are continuing.
The accounts have been prepared in accordance with the Slalement of Recommended
Practice Accounting by Charities.
The charity has taken advantage of the exemption of Financial Reporting No 1 from the
requirements to produce a cash now statement on the grounds that it qualifies as a small
company.
1.2 Incomlng Resources
1.2.1 Revenue grants are credtted on the eartier date of when they are re￿iVed or when they are
receivable. unless they relate to a specific fijture period. in which case they are included on
the Balan￿ Sheet as deferred income to be recognised in the futute accounting period.
1.2.2 Grants received for specific purposes are accounted for as ￿Stricted funds in the Statement
of Financial Activities.
1.2.3 Donations
Donations are accounted for on a cash receipts basis unless defer￿d.
1.2.40ther Incomlng resources
other incoming resources are accounted for on an acGNals basis.
1.2.5 Deferred Incomo
Where a grant or donation is received in advance for expendrture in a future accounting
period recognition of that income is defeffed arKI released in the period in vthlch the
expenditure is incurred.
10
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RfD¢KIIIID Cl*¥I￿rIAN QIIUIICII 011 I)oiJ
•OLUTKXI AJW.IIULY
fP(XIY AtrID ACC(MIIIY
POR M YIAR IIIIDIID JI ￿y 202) 1,,1, I,Iili
1.4 Unrnwtrk.t￿ Puw•d•
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IlfiiNilud liJiNl¥ lim I￿(1￿ onmmvk￿l by Ilio •AlM￿￿n￿l C4xnmltloo for '[, I ,:
p¢wlkM&IY WryY)j(￿,
1.1 RMour¢•• Expond•d
c.1￿111￿t￿k1 i)Xl)OlKltturn IncliK108 oxporKllluro Inciimjd by Redoomed ¢hrlBllan I I
Clxiid) ol a(xl Solulk)ii AMuviMI)ly lil (Illi￿1 puriiijll ol Ilij clwrltnblu ¢)hlaclfve8.
Mniliwm￿I nnd ndmlnlylfiillfM Iixpiiiidllurii Ind￿11)￿ all noi dliecily felaiod lo Ihe
¢lwrllrt>li) IKllvlllo8 wxl lthlch cnnnol Ix) DI1￿11)d lo dfocl chatlinblo expondlura.
l.f T•nglblo Ilx•d 4JJ•et•
iprt?diilk)n lu cnl(xiliilod lo ￿110 nlf Iho cost of fixed 888018 Ovof Ihok 88drnhied uaoful,
I Il Ilvuy. 'fho cl)uilly l)u8 u wuul8lof ol ii&solA.
Cr•dllOrn: Amounl lalllng duo wllhln one year
2023
2022
I li Acv.oiiniiincy FDI)d
800.
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THE REDEEMED CHRISTIAN CHURCH OF GOD
SOLUMON ASSEMBLY
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MAY 2023
2023
Total
2022
Total
INCOMING RESOURCES
Unrngtrlctsd ￿lI￿Cl•d
Fund{£l
Fund{£l
72,088
3.571
Tithe & OffenNJ
Thanks Giving
Building FurKI
Donation
Sunday School
Investrnent Income- Barft lrferesl
Total Incomlng Resour¢es
72.088
3.571
1,500
2,297
61.454
1.126
3.387
160
140
140
79,766
OUTGOING RESOURCES
Charltabl• AdlvMe8
Salaries
Rert ExpensestsuikliTrJ
Vicarage SeThices
World EvaTrJelical Ministyi coc
Book PrintintySlatsonerylZOOWirAemet
planning fees
Refreshments
Fuewfransportrrra
Honoran￿￿oteIACc(X1yrnth
Members WefarelErtertainmerts
Publiaty
Subscflption
Bank Charges
Accowrtary FeeslBookkeepiivJ
Insurance
Conferen
croklren Day
Relreats
Sound Equipmert
Fast Host
CompaThes House
Donation and Gift to CIMNch Members
Surnlay School
Sundry Expenses
Total Re30urces Expended
12,S¥XI
5.726
6.000
20.748
836
12.900
5.726
6,000
20,748
836
12.000
3.712
8.000
11,382
387
1.200
34
1,507
1,100
1,774
1.774
295
150
BIJO
1,388
800
1.388
300
1.458
1,111
642
647
750
1,347
1.111
642
647
1.076
273
3.805
260
337
3,805
260
337
275
976
12
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