THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS ASSEMBLY Charlty REG.No .1150700 TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022 MOSES-BOLE&CO CERTIFIED PROFESSIONAL ACCOUNTANTsrfAX ADVISERS & BUSINESS CHARTERED MANAGEMENT CONSULTA14TS 30 SAINTS BRELADES COURT BALMES ROAD HACKNEYIISLINGTON LONDON N15TW Tel: 02079234660 Mobile: 075 8407 5572 THE REDEEMED CHRISTIAN CHURCH OF GOD- RCCG] WINNERS ASSEMBLY CONTENT Tntste8s and Advlsers Trust￿. Roport 2&3 Indepgndent Examiner"s Report to th• Trustses Statsment of Financlal Aetivities Balance sheet Notes fonning part of the Flnancial Statement 7t017 THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS ASSEMBLY LEGAL AND ADMINISTATIVE INFORMATION Genaral overseer: E.A.Adeboye Trustees: Pastor Oladele Bakare Pastor Roseline Wanogho Pastor Yinka Odogwu Registsred Office: 63 Efrida Crescent Bellingham London SE6 3EN Minister In Charge: Pastor Festus Wanogho Charity No 1150700 Bankers HSBC Lewsham High Street Lewsham London NATWEST Lewsham High Street Lewsham London Accountants OSES-BOLE&CO Certified Professional Accountants l Tax Advisers and Buslness Charttered Management Consultants 39 Saints Breldes Court Balmes Road IslingtonlHa¢kney, London N15TW THE REEDEMED CHRISTIAN CHURCH OFGOD-WINNERSASSEMBLY TRUSTEES REPORT 2022 The trustees have the pleasure in submitting their report and accounts for the year ended 31st December 2022 which's final statement have been prepared in accordance with the accounting policies set out on pages 7 to 17 and comply with the statement of Recommended Prattice ISORP 20151, and the applicable law. Objectives and Actlvities The objecrive of RCCG Winners Assernbly as a charity as stated in our trust deed is the advancement of the Christian faith and the alleviation of poverty. To achieve this goal, we hold regular Sunday services, bible studies and seminars for the beneflt of our members. To alleviate poverty in our community we have established and registered six projects that are run from our centre for the benefit of everyone unconditionally. These projects are= Aydee Project Ihelping people with addiction problems) Food and shade projerts (reaching out to the homeless) Christ Saturday school (helping year 7 students wlth their studies) • The senior's companion (reaching out to the elderly) Christ food Ifor helping struggling families) The youth (reaching out to the youths) Activitles and Achievements We reported in the year 2021 that our new place of worship couldn't accommodate our projects based on the conditions of our lease. Consequently. none of our community-oriented projects domiciled in our property was able to run in the year 2022. However, we were able to continue to Serve a small Spanish community from our foodbank after our landlord permitted us. We were able to continue to deliver sandwiches and food items to two elderly people's homes. This year under review, we were able to o￿anIse our yearly BBQ in the park for the homeless and people suffering from substance abuse. The attendance was massive as it wa5 the first time since COVID. It gave people the opportunity to come out as a community after COVID. In addition, at Christmas we gave out over 250 hamper boxes to various homes around our locality- An exercise that brought community spirit, joy and love to our neighbours. It was a great experience. Spirituality and numerically we grew tremendously with 2-3 people being added to our congregation every week. This also has translated into more people in attendance at our bible Studies and prayer meetings. Financlal Revlew The principal funding is provided mainly through voluntary tithes and offerings by the church members and through Gift Aid scheme. Pledges are also taken from specific projects. The net incoming resources for the year amounted to £14.254.9212021 was E-6,2481. All these have been unrestricted reserves and no fund is allotted to restricted projects. The trustees have assessed the major risk5 to which the charity is exposed, particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate any risk exposure. Structure, Governance and management constitutlon The charlry Is constituted under a Trust Deed and is registered wtth the Charity Commission of England and Wales. RCCG- Winners Assembly is a member of Redeemed Christian Church of God IRCCGI which has parishes all over the world. The relationship is governed by an Agreement for common purposes, between the parishes an RCCG. The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed. The church is organised so that the trustees meet regularly to manage its affairs. There is a Minister and Volunteers, who managed the day-to-day administration of the church. Future Development We are still searching for a property of our own so that we can resume with our prolects as normal. We have been seriously impacted by our inability to run all our projects due to our lease conditions. We have also not forgotten running our own night shelter and an orphanage in Africa. We are very hopeful that we all these will be realised someday. The member5 ofthe Board ofTrustees who Served during the yearwere: Pastor Oladele Bakare Pastor Yinka Odogwu Pastor Roseline Wanogho This report was approved by the Board of Trustees on the ¢£t behalf bv,. and signed on their MOSES-BOLE & CO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD-WINNERS ASSEMBLY I report on the accounts of the charity for the year ended 31 December 2022, which are set out below and notes to the financial statements on pages 7 to 18. Respective responsibilities of Trustees and Examlners As the Charitvs Trustees, you are responsible for the preparation of the accounts; you consider that an audit Is not required for this year lunder section 144121 of the Charity Act 2011lthe 2011 act) and that an independent examination is needed. It is my responsibllity to Examine the account (under sertlon 145 of the Act); follow the procedures laid down in the General Directions given by the Charity,. Commission lunder section 145151 Ibl of the 2011 Act and State whether particular matter5 have come to my attention. Basls of Independent Examlnerfs report My examination was carried out in accordance with the general direction5 given by the Chartty Commission. An examination includes review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. Independent Examinerfs Statements In connection with the examination, no matter ha5 come to my attention:_ 11 Which give me reasonable cause to believe that in any material respect the requirements To keep accounting records in accordan￿ with section 130 of the 2011 Act: To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met or 21 To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached Mose5 0 E Igunnubole, BA (HONSJ FAI￿ FCPA. FFA, FCPFA, FIPA. FT4 FIC... MOSES-BOLE&CO Cht7rtered Certfffied ForensicAccountonts Certified Proftssional Accountants/ToxAdvisers And Business Chortered Monagement Consultunts DA TE." 2023 Tel., +4410120 77042525 Emall l ffl0sesboletstsl.com LW AovseBuslne5sCentre.Unlt 1J. FaxlU41QI 20 73S4 203£ ￿bI i'Ji'iw.nvJse5.bD￿X0M 436ES*X Atr3d,1￿iD9ton.LDna0n.N7 3QP Flnancial Review The principal funding is provided mainly through voluntsry tithes and offerings by the church members and through Gift Aid scheme. Pledges are also taken from specific projects. The net incoming resour￿$ for the year amounted to £14,254.9212021 was £-6,2481. All these have been unrestricted reserves and no fund is allotted to restricted projects. The trustees have assessed the major risks to which the tharity is exposed. particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate any risk exposure. Structure. Governance and management constitution The chartiy is constituted under a Trust Deed and is registered with the Charity Commission of England and Wales. RCCG- Winners Assernbly 15 a member of Redeemed Christian Church of God IRCCGI which has parishes all over the world. The relationship is governed by an Agreement for common purposes. between the parishes an RCCG. The management of the charity is the responsibility of the Trustees who are elected and ClHlPted under the terms of the Trust Deed. The church is organised so that the trustees meet regularly to manage its affairs. There is a Minister and Volunteers, who managed the day-to4ay administration of the church. Future Development We are still searching for a property of our own so that we can resume with our Projects as normal. We have been seriously impacted by our inability to run all our projects due to our lease conditions. We have also not forgotten runnin8 our own night Shelter and an orphanage in Africa. We are very hopeful that we all these will be realised somedav. The members of the Board of Trustees who served during the year were: Pastor Oladele Bakare Pastor Yinka Odogwu Pastor Roseline Wanogho This report was approveil by the Board of Trustees on the 2S4* behalf bv.. and signed on their THE RÈDEEMED CHRISTIAN CHURCH OF GODiRCCG]-WIP4NERS AssevABLY STATEMeMT OF FINATrI¢IAL ACTMTIES FOR THE YEAR ENDED 31ST DECEMBER 2022 Fwwjs F Fw FLmds Incomè and •ndowmonl6 fmm.. Donations aThJ Totsi 105.465.91 IOSh6&91 105.465.91 104465.91 73.909 Expendltur• a￿- rect Cost Support Cost Govemance Cost Total 41.167.78 48.103.21 1.910. 91,210.99 41,167 78 48.103 21 1.940 CK) 91,210.99 24.387 53.831 80,157 I4￿ mgvom•nt in 142x92 14254.92 4,248 R•eo*clllatlofft Of fwbds: Total furKls brougm t(thartl Totsl fvnd8 carrf•d lorward 30.917.84 45.1r2.78 30.917 84 45.172 76 37.1e 30.918 THE REDEEAIED CHRISTIAN CHURCH OF GODtRCCG]-bMNNERS ASSEMBLY BALANCE SHEET AS AT 31ST OECEMBER 2022 Totsi st Year Fur¥Js FLYKts FuThts F￿@d asseis Tangibie assets Tot81 fved assets 9.259 38 9,259.38 g,259.38 9.259.38 7.131 7.131 Curreni a&8ets Cash al bank aTKI In hand Total cutrent a55818 38.993.38 38.993.38 38.993.3B 38.993.38 27,167 27.167 credito￿.. arnounts f8lllrwJ due (4* ￿ar 3.OBO 3,080.00 3.380 ujrrent asSe￿￿￿1th8} Total a8sets le$6 &￿3.38 35.913.38 23.787 45.172.76 45.172.76 30,918 Credll(x5.' amwrts falluig due afteiorÈyear Total net 8558ts or 4S.17178 45.172.76 30.918 Fund¥ otthe Chartty Unrestricled fuTrts Toial funds 45.172.76 45.17176 45,172.76 4S.172.76 30.918 30.918 SwJrEd by or* trustees on tehaff ofan the b￿re8￿. gnature.. Prfnt N8n*'. THE REDEEMED CHRISTIAN CHURCH OF GOD[RCCG]_WINNERS ASSEMBLY NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022 Not• 1 Bagis ot proparatl•)n 1.1 Basis of a¢countlny The¥e accounts have been prepared under th6 historical cost conventson ￿th items recognisad at cost or transaction value Un￿$S otherwise stated in th8 relavant notelsl to these a¢countS. The accounts have been prepared in accordanc£ wth the Financial Reporting St8ndÈrd applicable in the UK and Republic of Inland IFRS1021 issued on 16 July 2014 and with thg Charitses Act 2011 and th8 Charity wnstitutes a public benefit as defined by FRS102. 12 Goln9 concern Consldertng tho 8tsad levgl oflncomlng r•sourcg$ andmemb•R¥hip numb•rth8 Charlty Is going eoncom wlth no anyknown unforesoen clreum$tsne• 1.3 Change of ac¢ountlng poIIcy The accounts present a true and fair vw and the poliries adopted a￿ tt)¢￿ outyined in the nola wth no changg in policy 1.4 Chang•S to a¢¢ounting e511mates No changè8 to accounting e￿.MateS h8ve occurred in the roportlng period13 46 FRS 102 SORP}. l.S Materfal prlor year error8 N¢ matsrial prior year error have been idantifiad in the reporting p6riod {3.47 FRS 102 SORPI. THE REDEEMED CHRISMAN CHURCH OF GODIRCCGI.WINNERS ASSEM8LY NOTES TO THE ACCOUNTS ICONTINUED FOR THE YEAR ENDEO 31ST DECEMBER 2022 Notg 2 Acco• poll¢l•8 2.1 RECON¢ILIAT1014 YIITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE The￿ Is no change in accounting pdlcy In this period THE REDEEMED CHRISTIAN CHURCH OF GODtRCCGI.WNNERS ASSEMBLY NOTES TO THE ACCOUNTS ICONnNUEDI FOR THE YEAR ENDED 31ST DE¢EM8ER 2022 Note 2 2.2 INCOME Thi% st8￿ard list of aCcoUth￿ pc4oes has beeTr by Ihe thaiityex*ptlorihoseffjr*ert No or 'Nla'. WI*￿ a diffpjent ¢w additx)nJ tKJk¥ t￿$ t*en ad(W Ihen Ihs i& detaiba box bek)w Aceountlry pollcl•s RecogTrltl¢m of These are indudad in th8 Staiemenl of FiryarKial Actiwthas (SOFW ltytsn." . the th8nty b8￿Me$ entthd to Ihe resLMJrrts.' . it is more likdy Ihan not thatthe trustee5 ¥¥iU rwxwe Ihe rest￿￿". . the monetary vabje L¥n i% rI￿&su￿j wih 5UffK7wt￿. (Iirg0tt1•9 Grants aTrd donatlons Grarf$ and donatlons are in tre SoFAknt*n Ir*crfne r•¥rnb.C￿ uitefia are met15.10 10 5.12 FRS 102 SORPI. In the case of kErtorThance reiqleLI grants. irKwe rnL￿t th be TectYJn￿￿ tottE eXterttU￿ Ihe thanty has pro¥￿tert the spet4fied goods ￿ servit*s as entitknth to the grant onty ocrAU5wt￿ tt perforniantÈ related are rf*t15.16 FRS 102 SORP). L•y•¢l•$ There 15 no *gacy rece￿ ihis rwK4J. Gov•rnm•nt yants The charty has received government grarts kn the rnclalms d•bth8 g1ft• Gnl racehfable L8 induded in inc))me Ihefe is 8 vahj ded&rat￿in from the do￿)r. ￿ Grft AKJ amount recovered on a donatlon is t1)￿A￿ to be part of thatgrft aThJ B treabJ as ￿ add to the sarne fund a5 donati￿ dDrworttE t¥ms oflhÈ •)r** have otsrwse. Thts ￿ not apklicab Oonat•d goodts There ts no don8￿ good. Donated seM¢es ath1 faolit*S a￿ in ts soFAw￿ rece￿ atts oflhe grft to charity pro¥￿e1 the value of the can be rdkqbly. Donated JeNce8 and faCilit￿ts thal ore ¢￿Y￿rned Immeffjotdy 8r¢ rac00n￿d Incorn8 equNaknl amount recognksed as an exFertse under b)e apwowate Ihe SOF Support costs The tharity has 1ntyj￿ed exFendth on sW(£6ts. Vol￿￿t••1 h•lp The v81LX of any vrAunlary hdp 15 irKAtsJ twJt18 desotsd Irustees. report. Not applicatle during thi5 r*riod. Incom• Ir¢Hh m•mbor8hlp 6tsbHcrtptlons Tithes and offering re￿1ve4 trom the members are h Ihe rÉture ofa grft are rEcogni5ed as DonalKJrts. and Legacies 8etllemert of ¢14im¥ Insurance ckims are onty indu¢e¢ in tITe SoFAwhen the ge￿ra1 ￿n￿me rwnition crkerfa are met15.1010 5.12 FRS 102 SORPI end are Included as an Item of other income in the SOFA. This intjudes any ￿alIsed or unrealised galrts or losses M the sale of invesknents &nd any ualn loss r£S￿b￿g fftvaluing investments 10 markei value atth8 end of the year. 2.3 EXPENDITURE AND LIABILITIES Llahlllty r•¢o9nltl•n Llabi11lles are recognised where il k8 more likely than not thatthere is a legal or consttuctive obligation mtnitung the tharity to pay out and the amount of the oNlgaJon can be mea8ured wNh rea50naNe (Ertainty. Govern•n¢o •n4 ¥uppgrt ¢9¥ts Support costs h8¥e been allocateil between govern9n￿ ctssts 8nd otsr support. Govwnanc8 costs cx)mprise all costs Involving public accounlabilily of Ihe tharity and ts toMp￿an￿ vrilh re9￿atIon and good practic8. Support co$ls indude centr81 func110r￿ and have been alloc8ted lo actwity cost Lxtegories on a bw$ ¢onsistenl with the use of èg allo¢abng property (X)Sts by flcNJr areas, or per capita. staff sts by the time spent and olher costs by their usage. Grants wlth p•rforni*nc• eondltlow Tf* Chadty Is not awardkng grant to 8ny organL88lon Gr•nts payabh wlthout p•rforniancg Gondlllons Where thete are no condthons attaching to the grant Ihal enables the donort*arity lo reallstlcally avolo the commilmenl, g Ikgbilily forthe full fiJn¢ing oblig8t￿n must be reGognt5ed. Th8 charity m8d8 no redundancy payrnents durfro the reporknng period. Deferred ineom• No maierial item 0fde1e￿ed in(x)m8 has been inpjuded In Ihe at￿Unt8. Cr•dltors The charity has credilorswhich are rneasL¥pd at setuement amounts less any trade dkcounts PYo¥l8lon8 lor Ilabllltlo• A liabSllly18 meAsured L>n rewnmon al Its hlstorfcal cost and Ihgn sut>5$quèndy m8•$urad attho best estlrnale of the amount require(I to selve the obl¥atson ai the rèporting date Ba81¢ Ilnanclal lTrstwm•nts Tf* char￿Y accounis lor baslcfflnandal Instruments on irylial recognthon as per p8ragr8ph 10.7 FRS 102 SORP. Subsequent measuremeN Is 88 Per par8gr8phs 11.17to 11.19. FRS 102 SORP above is not ap[Alcab￿ to RCCG WINNERS ASSEMBLY 2.4 ASSETS T*ngibl• fix•d a8S•t8 for by eharfty These are capitalised if they tan b8 used for more than one year, and c08t al bast They are valued at ¢*Jst The depreclalion rates arxl meth(xY$ ￿ed are disck)sed in note 14. Intawibl• Ilx•d assats The ch8rf1y h8s intangible fixeil assets, th8t Is, non-monètsry assets that do noi h8ve phy*eal substance bul are ideDlifiaNe aThJ are controlled by lh8 charfly through custody gr legal righ15. Tl afflortlsaiion rates and mÈihotts used are dlsck)sed in note 15 They are v81ued at CD$t. H•rltayo a¥$•t8 The charity has no heritage asselg, that 13. non-monetary as6ets *lth hklthc, arllsle. s￿en￿fic. technological. geoph￿1¢81 or environmental qualities that are held 8nJ mainlalned prinapally for thalr conlribulion to th0￿edge an(1 cumu￿. The depreciation iales and methods us8d as disdos8d in note 161$ not applitaNe during thN8 periad but if avallable they are v81ued at CO81 lfftveJtrnents FrAe(18sset Investrrents n qupled share$. Irad8d bonds and 8imilarltwe$tments ate valL￿d 8t inib.ally al cost anLI subsequerrtly at fairvalue (their matkel value) al the yearend. The same Ireaimenl Is appiied to unlltsie(J Investrrwts unless falr value c8nnot be measured reli8bly in which case il Is measured at cost less inpairment Investrnenis hdd for resafe orpending thtrirsa￿ and cash anu cash equlvaknts Mlh a maturty dale of ￿8S than 1 yearare Ireated as currenl 888ei inVestm￿ts stockn amd worf( In proyrns• stO¢*s held forsak as part of norrfharftatde trade are measured atthe lower OF or nei realisable value. Goods or Services w0￿ded as parf of a charitaNe activty are megsured at nel realisable value based on the service potenllal tKovided by items of 51odt. Vvork in progr8s$ is valued at cost less any fOre&egab￿ los$ that Is Ilketyto orxuron the fxintracl. D•btors Debtors (Includlng trade debtors and108ns re[*nia￿e) are measured on inlllal ￿Cogn￿lOn at Sett￿ment amount after any trade discoJr)ts or amount a¢vanced by the charrty. Subsequènity. Ihey are tneasured al the cash gr othÉr¢onsid&raiion expeoe¢ to be re￿1¥8￿. Current as$•t Inw•stm•nts The ch8ri1y hgs has investm8nts whlch tt holds forresale or pending their sa* and tAsh and cash eQu￿arents wlh a rnglunty date less than one year. These indurfe cash on deposit and c8sh equivalents yrith a maturity (late of less Ihan one year hekl for Inveslmenl purposes ratr*rth8n to meet short lÈrrn cash ￿MMitm￿￿ as they f211 due. They ere v81ueil al fair Value ex*pl wh8r8 they qualfy as b881¢ finana81 irtstrumenls POLICIES ADOPTED ADDITIONAL YO OR DIFFERENT FROM THOSE ABOVE Thwe is no any otrÈr polldes adopted THE REDEEMED CHRISTIAN CHURCH OF GODIRCCGI4MNNERS ASSEMBLY NOTES TO THE ACCOUNTS C014TINUED FOR THE YEAR ENDED 31ST DECEMBER 2022 Analyjkn ol Mot• 3 R•¥thGlq(l Endo n*nt Fund• Prk)r knaly4 Total yèar Funds Funds Dwatlons Donthns and 91,352.07 113.B4 10E,455.91 91AJ2.O7 14.113.84 10S,465.91 73.909 Total Oth•r INoorn•> TOTAL IMCOklÈ 105,4fj6.91 105.465.91 73,90 All InGorng kn th• pvltsry•arvM• wiv••tvkt Inoluolng th& ppforyMrDtheve w•• matqr5wl In¢om& It•ttb* withkn th• •l¥ovo that requlye dI￿10%￿r9 ol Its nOtur• 12 THE REDEEMED CHRISTIAN CHURCH OF GODIRCCG]_WINNERS ASSEM8LY NOTES TO THE ACCOUNTS {CONTINUEDI FOR THE YEAR ENDED 31ST DECEMBER 2022 Not• 4 AnAly8iJ ol •xptrndlture R88tr1ctsd Endow- Unr8Strfcted ItKoine mgnt Funds Fun