REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements
Legal and administrative information
Status
Registered charitable organisation since 14 January 2013
Trustees and Management committee
Parish Pastor : Pastor Samuel Oluwafemi Odewunmi
Trustees:
Mr Olagoke Faromika (Member) Mr Emmanuel Abayomi (Chairman) Mrs Ngozi Afebu (Secretary)
Contact address
St Sidwells Chapel, St. Sidwells Community Centre, St. Sidwells Street, Exeter, EX4 6NN
Charity operations address
St Sidwells Chapel, St. Sidwells Community Centre, St. Sidwells Street, Exeter, EX4 6NN
Registered charity number 1150483
Bankers HSBC Bank Accountants AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
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REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements Trustees Report for the year ended 31 December 2022
The trustees present its report and financial statement for the year ended 31 December 2021.
Background to Church’s Activities in 2022:
The broad aim of the charity is to spread the gospel of Jesus Christ to the nations of the world and also ameliorate poverty. In line with this, Glory of God parish was able to organise periodic missions’ activities by organising the volunteers and members of RCCG Glory of God Parish Exeter to distribute Christian literatures on the streets of Exeter.
Also, the church was also able to vote a significant percentage of its income to world missionary agency to aid the spread of the gospel of our Lord and Saviour Jesus Christ. Furthermore, occasionally the church also gives to the indigent to ameliorate poverty in line with the stated aim of the church.
On operational basis, the church meets twice every week: Wednesdays and Sundays to organise prayer meetings and teaching of the word of God to the members of the congregation. It is also noteworthy that RCCG Glory of God Parish Exeter also organises tea and coffee and light refreshments for the parishioners on Sundays and some members of the community comes to help themselves occasionally.
- Regarding church building, the church submitted a bid for a building that was to be sold by auction Arlington Building Exeter- and took some loans from some parishioners. Unfortunately, we did not win the bid and all the loans taken from various members of the were returned back to them. It is also noteworthy that we had some fixed costs regarding the bid which we could not recover- e.g. the legal fee.
In the month of December 2022, the church distributed gifts to all the children in the church as Christmas presents.
Finances of the church
From the audited financial statement attached to this report; the church has improved massively in its income generation potentials. There is a massive improvement in its income compared to year 2021. This is owing to the grace of God on the life of the parishioners as they are able to give more towards God’s works, the gift aid contribution from the HMRC and also fiscal discipline of the board of trustees.
Goals of the Church
In order to consolidate on the growth that has been recorded in the previous years; the church aims at acquiring a permanent place of worship as most assets of the church (especially the musical instruments) are depreciating fast as the church have to unpack all the instruments of the church after each service.
Secondly, efforts are been made to secure a minibus to convey some parishioners to the church and to aid the accomplishment of the stated objectives of the church.
The church is also praying and holding strategic meeting on how to reach the community of Exeter for the glory of God. Various evangelism strategies are being currently debated and considered. Lastly, the church is prayerfully considering opening another branch in a nearby location where one of the ministers in the church could be sent as the parish pastor.
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REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements Trustees Report for the year ended 31 December 2022 continued…
Responsibilities and basis of preparation of the report
The trustees who are also the management committee of the charity are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Board of Trustees
……………………………….
Date ……………………………….
Mrs Ngozi Afebu Secretary
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REDEEMED CHRISTIAN CHURCH OF GOD
GLORY OF GOD PARISH EXETER Reports and Financial Statements Independent Examiner's report to the Trustees
Year Ended 31 December 2022
I report to the trustees on my examination of the accounts of the above charity for the above period.
Responsibilities and basis of report:
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement:
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Alhassan Bangura FCCA AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
Date.....................................................
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REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 December 2022
| Notes Incoming resources: Voluntary income 1 Gift aid claims receipt Bank Interest Received Total Incoming resources Resources expended 4 Total resources expended Net surplus/ (deficit) for the year Opening funds Closing funds |
General Funds £ 68,997 11,017 - 80,014 26,066 26,066 53,948 72,237 126,185 |
Total Funds 2022 £ 68,997 11,017 - 80,014 26,066 26,066 53,948 72,237 126,185 |
Total Funds 2021 £ 41,661 8,264 4 |
|---|---|---|---|
| 49,929 | |||
| 19,600 | |||
| 19,600 | |||
| 30,329 41,908 |
|||
| 72,237 |
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REDEEMED CHRISTIAN CHURCH OF GOD
GLORY OF GOD PARISH EXETER Reports and Financial Statements Balance Sheet as at 31 December 2022
| Fixed assets Furniture & Fittings Equipment Net current assets Cash at Bank and in Hand Current liabilities Net Assets REPRESENTED BY: Charity Funds Signed on behalf of the Board of |
Notes 2 3 Trustees |
£ 283 3,519 122,923 122,923 (540) 2022 |
£ 3,802 122,383 126,185 126,185 126,185 |
2021 £ 354 1,828 |
|
|---|---|---|---|---|---|
| 2,182 70,989 |
|||||
| 70,989 (934) |
|||||
| 70,055 | |||||
| 72,237 | |||||
| 72,237 | |||||
| 72,237 | |||||
………………………………. Date ………………………………. Mrs Ngozi Afebu Secretary
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REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements Notes forming part of the financial statements for the year ended 31 December 2022
1. Accounting policies
a) The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
b) Voluntary income is received by the way of donations towards religious commitments by worshippers. Donations received is included in full in the Statement of Financial Activities in the year in which they are received. Nursery Equipment 20%
c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
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Furniture & Fittings 20%
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Equipment 20%
e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.
f) Restricted funds are to be used for specific purposes as laid down by the donor.
| 2. Tangible Fixed Assets Cost: As at 1 January 2022 Addition As at 31 December 2022 Depreciation: As at 1 January 2022 Charge As at 31 December 2022 Net Book Value: As at 31 December 2022 As at 1 January 2022 |
Furniture & Fittings £ 1,140 - 1,140 786 71 857 283 354 |
Equipment £ 4,636 2,571 7,207 2,808 880 3,688 3,519 1,828 |
Total £ 5,776 2,571 |
|---|---|---|---|
| 8,347 | |||
| 3,594 951 |
|||
| 4,545 | |||
| 3,802 | |||
| 2,182 |
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REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements Notes forming part of the financial statements for the year ended 31 December 2022
| 3. Current Liabilities Accruals Tax and National Insurance 4. Total Resources Expended Central Office Fund Donations, Welfare & Honorarium Conferences, Events & Outreach Cost Salaries & Pension cost Hall Hire Telephone & Internet Bank Charges & Interest Subscriptions & Licences Legal & Professional Fees Accountancy Fees Insurances Sundry Expenses Depreciation Total |
2022 £ 540 - 540 2022 Total £ 6,702 9,013 3,028 - 4,059 235 95 213 300 540 173 757 951 26,066 |
2021 £ 450 484 |
|---|---|---|
| 934 | ||
| 2021 Total £ 4,899 3,766 560 6,648 840 235 - 205 - 649 168 1,084 546 |
||
| 19,600 |
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Registered Charity No: 1150483
REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER
Reports and Financial Statements Year ended: 31 December 2022
AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
REDEEMED CHRISTIAN CHURCH OF GOD GLORY OF GOD PARISH EXETER Reports and Financial Statements Contents
| Page No | |
|---|---|
| 1 | Legal & Administrative Information |
| 2-3 | Trustee's Report |
| 4 | Independent Examiner's Report |
| 5 | Statement of Financial Activities |
| 6 | Balance Sheet |
| 7-8 | Notes forming part of the financial statements |