2021-11-30-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD- PRAISE CONNECTIONS End of Year Financial Statements th Year ending 30 November 2021

Charity Details and Trustees......................................... Trustees. Report for the year ended 30th November 2021_. Independent Examinerfs Report lo the Trustees and Membern.... stat8menl of Financial Activities foryear Ended 30th Novembgr 2021 .......................... Balance sheet as al 30￿ Novembar 2020.. Notes lo the Financial Statement for the year ended 30th November 2020................... . Summary of Assets by Fund.... .. Fund movement bytype....... Analysis of income and expendrture........... . .. 11 .12 .13

RC.C.C: _ PRAISF, CONNf4 CTIONS Charity Details and Trustees Charlty No.. 1149852 Trustees Solomon Sonubi Dr Julius 04unbor ()layiwola Olubukol4 Ajala %llniLLel Akpan Seerttiry Solomon Snnubi R¢%lytered Offlte 68. Ncthan t)rive Avelev Sthuth Oekendon Essex IiMI54RI A¢covnt4nts 8olinx (slobAI Accounting Services Accouiitanis & Mana¥¢m¢iit Consultanls Liberty H(IiJ8e (.'lark$ Roftd B#nkerg HSBC Bank Pl¢ Page 3

RCCG - PRAISE CONNE TION Trustees. Report for the year ended 30th November 2021 Tho Trustoe6 are dg1ight•J to rwrt and ¥cc4)urts Ic th• ye81 ended 30 frSJvnber 2021 The Financial 5taternents have prtyMrd in a(xiJrdancè the a¢cfjunliTrg polKies soi wton Pa￿ 9 •nd 10 and eomply with thè Stalerfftnt of Recomm&rnled PT8cIic8 ISORP20051. aThd any ￿pIrab￿ ￿w. TYu8tee• The Trustees nAm•d on page 3 hav• 8•N•d th• ￿•r b•P￿1￿1M￿n¢ ofTnMteu 18 go¥•mNI by the Tr￿1 D88d of th• charty. The Bo8rd ofTruBt••8 Is author•J to apont nw Trus•S to fAI vxanciis arisiry I1￿U9h ￿3￿natI¢ll or d•ath of an exisb'ng Tmste8 ntp Thè Trustees hav8 the authority b•sttrAd on Ilhyn Tfwt to aThJ InV•stn￿ts using the charrty's fund, but no $u¢h Inv•strrnnt FX•88nly h•bJ. Itutton Ob andP The obJe¢tiYeB prfncpal acuvitos Inckth advan(rr￿1 Ll ch￿1•n FAith in ar£ofd8nca with the deLtrlne 891 out in the Sttsrnnl ol farth 8nd cthtsr ￿￿ted activilitrs set oul in lh• Trustee Oeeds. such •$ the reliol tsf povety, #te. We Jim to r•8tor8 vol￿9 and ch•rgp thw¥￿ fh•kly •Thl texh on &Jnday• and ekly &'bk study •nd Pr•y8t meetmgi Devol Th? Truste98 are p￿aSed to r8Wt that the ¢haity in •ddrtM to th• We￿ Sundty S•rv•>. th• Idlrth4ng •¢h6#v•m•n18 wor• m•do through other fiual organ4zed by lh• Ch•i6ty Re¥k8nts In Ouf bcal eommuThty and irtjuth w•r• po•thty wryxtthl lfvough th• ¥nny￿ eont•Mn¢g1 and S•min8rs organizetl by the Chrty in April 2W21, Iho ¢hBrty •IK4 opaonized Annual PraiB• EKtrgme Mu8ic F•ihval for all yguth8 In th8 kxal communits wburb8. Thrw IhiB muwclesti¥al, w• ar• abb lo Impact PO8rtiv# Chrl$tian V8lu•s Into the y¢xth4 wrthin our tyxa 3. The Charty ￿80 orqanTrz•d * vthit to G&7te Hou8e Nurning for Ekjerty in Ranhorn. E$sox, to sin9 Chii$tr7)8J Corol And drftrknult Chrislmo8 to r•skJ8nt8 activitJ•8 •ttraeitrd po8Mv• feèdbaths frorn thè ros￿•ntI Th• charity aL50 prov1￿ fr•è c￿nse￿Ing aar￿LS (￿¥d c￿￿￿110￿) to youn9•r adults, Adutts and Eidgrty F•rI￿a ana Ttt• TnNl8es have 088ess•d the map)f rks lo which tho Charity is •Xkwèd. Ihw r8Jllting to tho 0￿ratIon •TrJ ffnanc• gnd are salisfiod with Ihe rlsk monapmnl SYS￿ li pbce kn rnrtyte ary itk exprour• Fu￿r lo Thè Trustees aims to Incr888• th• ol thè C￿11￿ y¢8r in oul. The Trustees 988k lo exknnd tho80 activi11￿ an¢J •re pur•ulng a n￿rI)￿ (I progFaN¢ lo Ihlj to h&Fyn Tha charlty wlll conbnuo to locus its 8C1iTrthI￿ to moet tts set otiectives. Page 4

Roserv It is the policy of the Ch8rty kn mointain unre6trictsd funds at a level which piovides Bufficknl fvnds to ctsvor managemènl and administration and, Support Costs Unrestricted fund$ are expècted to be maintained at a ltrvel throughout the year. Howgver. during the year undèr rev￿, there wefy no rg$trictsd fund$ In the chantys books. tatsm nt f Tru8 Ch8rity law rtrquires the Governing 8ody to p￿pare financial statoments for financial year in 8¢¢ordanee with Unrttd n￿oM Gantsralty Accepled Accounting Practice (Unit￿$ Kingdom Accountin9 Standardsl and appliG9bla law. Und•r charity law Ihg Governing Body must not approve the financial 81Otsm•nts unle88 It 18 Sat￿fied that they give a Ime and fair vlw of the slate of aff8irs of th6 Chadty and of It8 net ineL>mln9 or outgoing resources for that pariod In preparino thesè Ilnanc4al statements, Ihe Governing 8ody is requlred to. Select tho most 8Uitable 8CCOUAllng pollcs 8nd Ihgn ￿p￿Y them con$l¢ntty. Make judgèments and accounting esllmates that ar8 reasonabl• and prudent. &ate whethef appIiGablg aceountlng 8landard# hav• been folh)wed, 8ubiact to any rnaterial d•p8rture8 di¥elo8ed and ¢xplalned in the fnanclal $tatsmènts. gnd Prepare Ihtr ftn&nclal stotgm8n15 On the golng concom bmls unl•88 11 h Inappropriata to pre$Ur￿ that th• Ch8rity will ontinuè to operat•. The Govèrlling Body Is re8pansibtè foi keeplng propgr aecountlng re¢ord8 thot Bre sufflclenl to show and •Xp￿In the Charity, ITan$a¢llons and discloge wllh reasDll8bL accuiacy at any IIFM lh• fln8nci81 posillon of lh$ Ch8rity gnd enable Il to n5ur• that the Ilnancial gtalemenl8 comply wilh tho CharitI8s Act 2011 11 1$ also rasponsible for $8f8guarding Ihe a$w18 01 the Charity 8nrS $n$uring Iheir propur ppllc8tion undw charity law and hen¢4 for taklng rea6unab Bt8ps loi the prevgntion and dgleclion cf fraud and other irr8gulariiieB rov Thio report W•8 approved by th• 8oard ol Tru$tee• on lh• JL 8nd 8Sgn•d on th•ir b8h•ll by rru&lee Page 5

RCC - PRAISE CONNECTIONS Independent Examinerfs Report to the Trustees and Members We report on the financial stale¥rnts ol the Charrty for ts yearendgj 30 Nosember 2021 which are out b8bw. and nottrs to th? fin8ndal 8tste￿ts cl) pages g to 10. tlve Res slbllftles 0 Examlner As the Tw8tee8. YOU are responwble loi th• prepar8kn of ts ar￿unts. you o)n$kJ8¥ Ihat an audit rJ not ¥tqusred lor thkry year luThJer s¢ctitin 43121 of Il Charty Act 19931th• Act) and that independenl examinat￿n b need&Y. 11 i• our Tesponstsility to Ex8min8 th• a¢￿￿nI urthr 8Klbn 4313Ml of Il• Art To follow th8 pr¢codwes lahd d¢y4vn in the General by ts Charity Con)Moion luTrJer seclion 43171 Ibl ol thek4.' •ThJ to 8ts whgllr Part￿l•r moliern hthY• to our attention l Examinorf Re Our oxominalKn was Cor￿ out In xxordance Trith the Gerr81 th"r8CtIo￿ by the Charty CommissK)ner a An ex8min8tion inclu(Jes r9V￿ of the ac¢ounting r•cofd• kept by tho Tw$le¢s and 0 comp811￿n ollf •¢county prgsent&d with th089 records It 81so IndLKlè$ con$ideratbJn ol any unugu81 or wi the accounts and, 88¢kng expl•n8tKJn8 from you as th8 Trust8a8 eortcwbng any sueh mattern. Tho ryocdyre6 ￿thrtaken do not yovKJe •ll lh• gVhnc• thal ￿UkI be r8quir8d in ydit and corwqwnty ￿ do not •xkYes8 an on IM w•n by lh• Kownt. Ind end min men In 8ccordar¢c8 with t}￿ examinatb)n, no matter h#8 eoftK• to ow attentb)n which tyv•s us rea60nablè co￿8 to fftal h •ny m8teFl81 le8￿¢t Ih8t the requirennts to keep at£ounUng tèg)ril8 In xcorrtane• wth ￿¢trOn 41 of the Act,. to prepare a￿lIn18 wh￿th agree th8 Octo￿11￿9 r•corth ar¥J lo corrpty wth the 8minkng requ1￿M￿n￿ of the Ad havo not been f[￿t gr to whlch, In our op￿lon, attènl¥)n •houhJ t• drnwn in Lyder to •nab* 8 prwr un¥Jwstsnding oflhe J¢¢ounts to be ￿ached SOLINX GLOBAL ACCOUNTING SERVICES. Page 6

RCCC- PRAISE ONNE ststement of Financial Activities for Year Ended 30th November 2021 Unrestricted Restricted E•do￿tAt (2021) Funds 2021 fullds f￿ndS Tothl funds (2020) total funds Donath￿S and kgacaes 431.625 431.625 487,150 107. 107,9 97,455 Investments Other inccTho Total In¢om• 125 684.730 510.071 540.071 Expondlturn ow. Expenditure on (arable adpths Donations lo cthw Total •xp•ndltur• 178,409 101,552 400,391 170,982 671,373 101.552 G¥inslh)sses on invgslmert assèts Not Incom• I l•xponditw•} rnsour¢•• l)•fry• transf•r 228.863 13,367 TrnMf•v• Gross transfers betww fuThts- Gf06S transfers fvnds- c￿1 other re¢ognlzed g•ln• I10880• Gains on revalualK)n, Ilxed assds. ¢ywn use Il•t mov•m•nt In funds 228.863 228,863 13,357 Tatal lund¥ brought forafd 31.001 Tatsl funds Caff1￿ forard 273.221 273.221 44,358 Thre w•rn no v•cognlzod gains or lo•se• f¢yth• ywr oth•rth￿e inelud•d In th• sl*lem•rt of Flnondal ActlvlU•8.

RCCG - PRAISE CONNECTIONS Balance sheet as of 30 November 2021 Clsss Deseri 2021 2020 Flxod 10,IMO 4,000 25,000 4,350 213 30,640 20,650 21,824 26,599 Camping Campy PA System ProieLtc StoraJe trai Computers & L¥lops Musical Instruments MultkMedi4 Equ￿￿0￿ Mini Bus Pro1￿1( A￿mInuM Chwth PLrft Drum Set Instrumw Speaker Trob Tot•1 Flx•d 4u4ts 18.750 3.282 22.980 15,488 16.368 19.949 7.477 S50 116822 Curr•nt au•t• Bank Balan￿$ 15.623 169.518 Reserv•s Excess I (der￿t) lo d*• Starting balance8 Totsl R•••p 13,357 31,IX)1 44.368 273,221 Ropre••nt•d by fvnd• UnrestrKled Designated Re$l¥ided 273,221 44,358 Tolal l Tustee Member: 11 Page 8

• PRAISE NNECTIONS Notes to the Financial Statement for the year ended 30th November 2021 Accountin Poli Prlncipal ateountfjny polict•s The linan¢i81 siattment has trAen P￿￿j ￿der ts hl8brical coStwn￿tth ar￿ in •ccordane• wth the Ststernertt ol R•comft￿nd8d Practir ISORP 200SI, applrabkry aCCoL￿tin9 Stwdards Ch8ri1tets Act 1993. The Charity has takan advantage ofth8 èx•nytth in th& Finanual Roportry Standanl from the rnquirnffnt to pr¢xluce eA6hfiow otst￿￿nt On lh• wuTrJ thai it quaIrf￿ as small charity Flxed •16•ts and d•pr•cl•tlon Tan9ibltr fix￿ a059ts for the year by the Ch•ity •r• 811￿j at q>st les8 dw•d•tion, Wrritt￿ off en & $traighl-lin• bAsiB D•pr6rAAUon is pftyv1￿ al r•l•s cabjloknd to 4¥rrt• oll or ¥1￿4tiOn offixwj a8MI8". Fufniture, Filth'ftg & Equlpiiw 25% Incomlng R•8oure•• The80 arg )n¢omè from Off•rny, Trth•s. Oon•lwJrn, th iJ • Charlt•bl• Trndlng Ineom• Th•r• M no In￿Me p•Mr•l•a from Wby Chaitatilti tradino porK¥J Tax•llo The Gharty #88 r•ceNed thorttst4• •xTYti￿ uThJ•r S•don g)5 ofth• Incotm a￿1 Cowtion Tw•s Aet 1898 Vlue Addtd Tx IVAT) Value NAd•d Tax J6 Th)t ￿L￿wrobl0 ty tho Chaity and M 9￿h Th)t inthd•J in thg r•l•vant CLXt In Ihè Statarnent d Flnan¢ial A¢livitkrys Exp•ndltur• Expenditur8 is Induc￿ tn Ihe ftnwltl￿ 8tst•nwrton ￿ f•Xn￿I bA Grant. d¢)ntK)n, and gffts feLN￿ for the gwnornl purpo￿ of th• Ch8nty •rw ueditthj to the satèn￿l of Fin8nci81 ActNthB ISOFAI in Ihe ygar thgy ar• r•cepi¢d Page 9

RCC.C - PRAisf, CONTNf,CTIONS C.ontinu%fion ofNottS to thc Fillantial Statcruents for ih¢ y¢r ¢ndtd 301h Novtmher 2021 Resources 8xpended include thos• charitable trxpendrture$ whith are th058 eo$ts incuried by the Charity In the d911veran￿ of ilts activitie$ and seNic85 It Includes both wslsthal can bg allocated dirtetly to $ueh a¢tivitle8 and those co8ts of an naturo Me8ssary to support th&m. UnroBtrlct•d G•n•ral Fund. ¢ompri$ing Funds which ean bt ustsj In accordan￿ wrfh tho charil8bl8 objects at the discr8tDn of th• Trust••s. R•trl¢td Fund¥-R8strcled funds are fvnds which can Only be us8d for the spe¢ili¢ purpps¢ as Lqid out by tho donor Expendlture which mgets th*$ criterion Is rfgntifi8d to tho fund, twthor wlth a fair allocation of overh8ads ctssi. Th$w woro no rèstr￿1•4 fund8 during the ytsar. Page Il)

Summary ofAssets by Fund General ted Restricted Endowment 2021 2020 7,500 10,000 4.000 14,000 CamF4ng Carw. 11XXKI 10.500 Fixed ase•t8. Tanglbl••••¢l• PA Syst•m- 18.7 18,750 3,262 25,000 4,350 213 30.640 20,650 21.824 26.599 9,969 850 103,695 StorAgetralkn. Computerg & LBP_ Musical IrBtruments- m￿￿me￿* EqwFrnrt- Mlnl B Drum Sol Inslfw)wrt- Spoaker Trollw. 22,980 15,488 21.824 19.949 7.477 488 116.422 15,488 21,824 19,949 7.477 11S.422 Curr•nt a82ets. Cwh •1 l>•nk •nd In hwd Bank Balance5- 273221 Tcthkn 273221 281968 169618 Page Il

Fund movement by type TrI￿reT5 Gain511058 Closin Building- Buildlng Fund Unr8stridad 1W.OLK) Gerwral- General lund UnrestriGteil 44.￿7 1.071 540.on 311.5)7 311,207 273,221 t*svJnated 540N7t 273,221 Page 12

Analysis of income and expenditure TtstAI ted Restricted Endowment This Last INCOME AND ENDOWMENTS Donations and19gaci08 Tf(he 8fL(l Offerir¥Js Thanksgiwng donatwffis Donatio￿ towards InslrLmertafBts T(rtal 331.468 1(X).697 331.468 1(KJ.697 i(M).( 89,820 431165 432,16S 189,820 Income from charhabl• acllvlu Donation lo ChuTth btmfvjing indUd￿g GrfIAid RecNed from HMRC Charrtlgs 107.9 107,9)6 297,455 Total 640.071 840.071 487,285 Inve8tment• Ino)me from Othor Totsl Other Income PR108- Loan Repayment r￿1ved Oonations low¥ds Retreal 125 Total IIICOME TOTAL Page 13

EXPEIWITURE ExpOndi￿re on charftable activilies Ministerfs Stipend antl Expenses Other Ministry Staff Costs Renl-Hall for thurth S8fVKS Other Lo￿1 Costs induding cth Professional Fee Publicty and Entertairment Staffs Training and Education AC￿UntancY Feo indthknj grft AK[ proL%ssing Slalionerie5 and Pr￿￿"n9 Donations to Other Missions and Charilie Assets Repairs and Maintgnanc Asstrls Dgwe¢H Insurances 2021 15,0 38.381 12.4x1 14,950 2021 15.IKJO 38.381 12.430 14.950 21,912 10,141 10.850 2020 12.000 86.593 64,0 101.455 12.954 25,OLK¢ 16.OLXJ 21.912 10.141 10.850 20.850 21.694 38.473 4.576 20,850 21,694 38,473 4,576 209,657 63.527 15.457 38.374 4.576 444,936 Other exPend￿r• PR2009- Soflware and IT PR2010. A￿0￿mOdat￿)n and Travel pR5￿]1- Loan lo Olhef Charrts PR8001 . PA & MuRkMedla Systwn Accessories PR8010- Bank Charg88 44.272 34.7 44,272 34.7D) 2.795 5.610 5.083 246 101,551 311,207 Totsl EXPENDITURE GRAMD TCITAL 101,551 Page 14