THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS ASSEMBLY Charity REG.No .1150700 TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 OSES-BOLE&CO CERTIFIED PROFESSIONAL ACCOUNTANTsrrAX ADVISERS & BUSINESS CHARTERED MANAGEMENT CONSULTANTS THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS ASSEMBLY CONTENT Pa Trustees and Advisers Trustees. Report 2&3 Independent Examiner's Report to the Trustees ststement of Financial Activlties Balance sheet Notss fomiing part of the Financial Statement 7t016 THE REDEEMED CHRISTIAN CHURCH OF GOD- [RCCG] WINNERS ASSEMBLY LEGAL AND ADMINISTATIVE INFORMATION E.A.Adeboye Genaral overseer: Trustees: Pastor Oladele Bakare Pastor Roseline Wanogho Pastor Yinka Odogwu Registered Office: 63 Efrida Crescent Bellingham London SE6 3EN Minister In Charge: Pastor Festus Wanogho Charity No 1150700 Bankers HSBC Lewsham High Street Lewsham London NAIWEST Lewsham High Street Lewsham London Accountants MOSES-BOLE&CO Certified Professional Accountants l Tax Advisers and Business Charttered Management Consultants 39 Saints Brelades Court Balmes Road LONDON N1 STW The Redeemed Christian Church of God Winners Assembly Trustees Report 2024 The Trustee5 have the pleasure of submitting their ￿port and accounts for the year ended 31" December 2024, which financial statement ha5 been prepared in accordan￿ wf(h the accounting policies set out on pages to and complywith the statement of recommended practice I SORP20151, and the applicable law. OBJEcfivES As stated In our trust deed, RCCG WINNERS ASSEMBLVS objettives are the alleviation of poverty and the advancement of the Christian faith. In pursuit of this goal. we held regular Sunday services, bible studies, and seminars that are tailored towards meeting the spiritual needs of our members. To alleviate poverty in our community, our six registered projectsthat seple our comrnunity free of charge have continued to help us achieve this purpose. The Aydee project- { Helping people with addiciion problems) Food and Shade project- (Reaching outto the homeless) Christ Saturday school- ( Helping year 7 students with their studies) The senior companion- l Reaching outto the elderly) Christ Foodbank- (Helping struggling families) The young people forum- ( Reaching outtothe youth ) ACTIVITIES AND ACHIEVEMENTS The year 2024 tsn be said to be a very successful year for us as a charity. Spiritually the church has improved and numerically we have increased. Our Sunday services have seen a greater number of attendees and more and more people added to the church daily. For our bible studies and prayer meetings we have continued to meet onsite and online via zoom cloud meeting. This has boosted our attendance as more parishioners find it easier to fellowship from the comfort of their homes. Our senior companion project and Christ food bank have continued to help those vulnerable members in our community and beyond. We delivered food items to two elderly homes at least twice a week throughout the year in two neighborhoods Since our own drop-in ￿nter has been suspended dueto issues with our landlord, we have now themed us with another organization to deliverfood to their center fourtimes a week. This is making a lot of impatt in their lives. This year we were able to hold our usual Christmas carol with over 300 hamper boxes given out free of charge at the event. We held it in a different location and it can be said that it was the most successful of all so far. It was electrifying a5 it brought Christmas cheer to all, resident and passersby alike. Throughout this year our foodbank served over 20 families every week not forgetting our parishioners who were also strugglingfinancially and benefited from the foodbank. We were also able to organize successfully a marriage seminar where we brought couples together over breakfast and had teachings on how to have a peaceful and Suc￿$$fUl marital relationship. It was well attended and all who did were blessed. Over, it can be said that the year 2024 was very good. Financial Review The principal funding is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are a150 taken for specific projects. The net incoming reSoUr￿S for the year amounted to £ - 16,722.8812018 was £-32601 All these have been unrestritted reserves and no hjnd is allotted to restricted projects. The trustees have assessed the major risks to which the chartty 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. Strurture. Governance, and Management Constitution The charity is constltuted under a trust deed and registered with the Charity Commission of England and Wales. RCCG WINNERS ASSEMBLY is a member of the Redeemed Christian Church of God IRCCG}, which has parishes worldwide. The relationship is governed by an agreement of common purposes between the parishes and RCCG. The charity's management is the responsibility of the trustees, who are elected and co-opted under the terms of the trust deed. The church is organized so that the trustees meet regularly to manage its affairs. A minister and volunteers manage the church's day-to-day administration. Future development Due to our numerical increase, we are now serlousty planning to acquire ourown property for the harity. The trustee has approved the opening of a dedicated savings bank account with Kingdom Bank, where savings will be made towards the acquisttion of this property. This means that we are no longer looking fora placeto let as we are at pea￿ in our present property, even though we have outgrown the property. Our vision of owning and running a night shelter forthe homeless is still very much alive, and so is our desire to run our own orphanage in Africa. We believe these will be achieved one day. Trustees who served during the year The members of the board of trustees who served during the year were: Pastor Oladele Bakare Pastor Yinka Odogwu Mrs Roseline Wanogho Approval This report was approved by the board of tru signed on Its behalf by o£LII ees onthe gD 06 2025 and Sp_rrptarv tn thp hnarA hf *nilEEom 436 ESSEX ROad￿1r￿tts￿.loAd0￿N1 3QP THE REDEEMED CHRISTIAN CHURCH OF GODtRCCG].TMNNERS ASSEMBLY STATEMENT OF FINANCIAL ACTtVlTIES FOR THE YEAR ENDED 31ST DECEMBER 2024 ReslriL*ed NoteE Unrestricte¢J irmne Ernlowrnenl Funds Funds Funds Prior year Funds Tolal Funds R•e•mm8nded cat•gorf•s by a¢tlvlty Incoming resources Incomg and &ndowmants from: Donats"ons and legacies Total 115,292_56 115.29156 115,292.56 114292.$6 122,372 121372 Resou*ces e￿Nded Expendltur• on: Direct Cost Support Cost Governan￿ Cost Totsl 38,986.82 53,388.43 2.280.00 94,655.25 38,986.82 53.388.43 2.280.CKJ 94.655.25 42,037 52,459 1.940 96.436 Not movoment In funds 20.637.31 20.637.31 25,936 Recon¢iliatlon ot fvnds: Total funds brought forward Totsl funds carr19d forward 71.109 19 91.748.50 71,109.19 91.746.50 45,173 71,109 THE REDEEMED CHRISTIAN CHURCH OF GODtRCCGJ-WINNERS ASSEMBLY BALAhlCE SHEET AS AT 31ST DECEMBER 2024 Restn"cW Endow- Nt)tss Unrestricted income ment Funds Funds Funds Total Last YeaT Total FurKIs Fixed assets Tangible assets Total fixed assets 10 043.52 10,043.52 10.043.52 9.774 9,774 Current assets Cash at bank and In hand Totsl current assets 84.037.98 84.037.98 84.037.98 84 037.98 64,115 C￿drtQl5.' amounts tslling due one year 2.335 00 2.335.00 2,780 Net current assetsl{liabiliiiesl 81.702.98 81.702.98 61.335 Totsl assets fess wrtent liabilities 91.746.50 91.746 50 71.109 Total net assets or liabiliiies 91.746.$0 91.746.50 71.109 Funds ofthg Charity Unrestricted funds Total funds 91.746.50 91.746.50 91.746.50 91.746.50 71.109 71,109 Signed by one or two trustees on behaifof all the trustees: dle of approval.. 3 'LC SSgn8lure' Print Name". THE REDEEMED CHRISTIAN CHURCH OF G0D[RCCG]-￿NNERs ASSEMBLY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Note l Basis of proparation 1.1 Basis of accounting These accounts have been prepared under the historical ￿st convention wrth items reo)gnised at cost or transaction value unless Othe￿Se stated in the relevant note{s) to these accounts. The accounts have been prepared in accordan￿ wilh the Financial Reporting Standard applicable in the UK and Republic of Inland {FRS102) issued on 16 Juty 2014 and with the CharitEes Act 2011 and the Chanty constitutes a public benefrt as defined by FRS102. 1.2 Goln9 concorn Conslderlng th• stead level of incoming resources and membernhip number the Charity is a going concern with no any known unforeseen circumstance 1.3 Change of accounting policy The accounts present a true and fair view and the accounting policies adopted are those ouvined in the note wth no change in poliGy 1.4 Changès to accountlng estimatos No changes to accounting estimates have occurred in the reporting period {3.46 FRS 102 SORP}. q.5 Mat•rial prior yoar orrors No material prior year error have been Klents'fied in the reporbng periLxJ (3 47 FRS 102 SORP). THE REDEEMED CHRISTIAN CHURCH OF GoDtRCCG]-￿NNERs ASSEMBLY NOTES TO THE ACCOUNTS CONTD FOR THE YEAR ENDED 31ST DEC. 2024 Nole 2 Accounting pollcies 2.1 RECONCILIATION iYrrH PREVIOUS GENERALLY ACCEPTED AccouKfiNG PRACTICE There is no change in accouMirwJ ￿lcY in this period 2.2 INCOME This stsrylard list of accounting poliaes has been applied by the charity except for Il*Jse tKked No c . Whete a different or ad￿￿onal policy has Lwi adopted this is detailed in ￿ box below. Recognltion gf incomè These are included in Ihe Stalernent of Financial Aciivrties (SOFA) wt*n: . the ¢h8rity become5 entitled to the resources.. ' il Is more likely than not th* the trusteès will receNe the resources" and . the monetary value can ￿ Measu￿ sufficiert reli8lAty. Offsattlny There has been no offsetbrvJ of assets aThJ F￿bIllI1&S, or income and expenses. Grants and donation Grants ar¥J dr)nations are only induded in the SOFA when the gengral income recognib.on uiteria a met15.10 to 5_12 FRS 102 SORPI. In the case of perfornian￿ related grant5. income musl onty be recogni5ed lo th& extent that th& charity has provided the specified goods or services as enljljemènl lo the gfant only occurs vthen the pertomiance related ctN)dilions a￿ met15.16 FRS 102 SORPI. Logacies There is no leg8cy recetved during this period. Oovornmont grants The charity hBs rei%ived govemrnent grants in the repjrbng wiod Tax r•clalms on donatlon$ and glfts Gift Aid receivable Is included in income when is a valid de¢iatation from th8 donor. Any Gfft d amount recoverèd on a donation is consMYef8d to be part of that grft and is treated as an addltion to the same fund as the initial donation unless the donor or tho terms of the appè81 have specthed otherwise. contractual i￿om• and perlwman¢e relat•d #rnnts This Is rwt applicabi8 Donated goods There is no donated good. Donat•d servk•s and facllltl•s Donated services and faalrties a￿ Fn￿￿￿ed in SOFA *then re¢eNed at the value of the gift to th& charity provided the value of the grft can be measured reliably. Donated services and faciltties that a￿ consumed imnHlialely a￿ recognised as income wth arF equivalent amount recognised as an expense uTh1erlhe appropn.ate heading in the SOF Support costs The chaity has incuThed expendilure on Supwt costs. Volunteer h￿P The value of any vofuntsry help receNed is not induded in the accoLmts bLrt i8 desuibed in the trustees. annual report. Incom• from Int•rès& royaftles and dmdendg Not applicable during this period. Incom• frorn mem1￿r5hlP subscriptions Tithes and offering received from Ihe members are in the naturp of a gift are wnised as Donations. and Legacies Sottlement ot In5UTanc• clalrns Insurance claims are only included in the SOFA the general income reCOgn￿On uiteria are met Is.10 to 5.12 FRS 102 SORPI and ar& indudgj as an item of other incomo in the SOFA. Investm•nt gains and 19sBes This includes any realised or unrealised gains or losses on the sale of investments aThJ any gain or loss resutting frorn ￿ValU1Th3 investments lo market value at PJKI of the year. 2.3 EXPENDITURE AND LIABILITIES Llabiltty recognitioh Liabilits"es are recognised where tt is more likety than not that there is a legal or constructive oblvJation committing the charity lo pay out resources and the amount of Its obligation can be measured wth reasonable certainty. Governance and support costs Support costs have been allocatèd belween govemance costs and othèr support. Govemance costs comprise all costs involving public accountability of the charity and Jts Gompliance wulal]"on and good practice. Support G05ts includ& cèntral funcliorts and have been allocatad to 8thvity cost categoriès on a basis consistent with the use of resources. eg 811ocating propety Costs by ftoor areas. or par ¢apita. staff ¢osts by the time spent and other costs by their usage. Grants wlth p•rformanco ￿NditiOnS The CharTty is not awarding grant to any organisation Where the￿ are no conditions attaching to the grant Ih8t enables Ihe donor charity to realistically avold ¢ornmitment. a liablltty for the fuA fvrKllny obligation mLL8t be iecognised. R•dundancy cost The charity made no redundancy payments duriThJ the ￿port11￿ Feriod. Deferrgd Incomo No rnatèrfal item of delewred income has been indud¢d in aG(xMJnts. Credltorg The charity has ¢reditor5 which are measured at settlement amounts ￿S any trade disu>unts Provlslons for liabi*ies A liability is measured on recognition at rts historical cost and then subsequenuy measured al Ihe best estimate of the amount required to setue the obligation at the rewrting date Ba$lc financial Instruments The charity accounts for basic financial instrurnents on inilial re¢o9nitK)n as per paragraph 10.7 FRS 102 SORP. Subsequent MeaSU￿Ment as per paragraphs 11.17 to 11.19, FRS 102 SORP. The above is not applicab￿ to RCCG WINNERS ASSEMBLY 2.4 ASSETS Tanglble fixed assèts for usè by charfty These are capitaliwl rf they Can be used for more than or* year. arkl cost al 1è8sl They are valued at CO81. The depreciation rates and methods used arg disdosed in note 14. Intanglbl• flxod ag9•ts The ¢h8rity has intsngible fixed assets. that ts, non-monetary assets that do not have physical substance but are ￿ent￿lable and are controlw by the tharity thrOL￿h custody or *al rights. The amorbsalion rates aThJ meth¢)ds used are disclosed in note 15 They are valued al ￿t. Herltag• a￿ts The charity has no heritsge assets. that is. non-monetary assets ￿ historTrc. artistic, sciènltfiG. lechnological, geophysical or environmental qLsalib"es that are held and maintained principalty for th￿r contribution to krri)wtedge and cujture. Tr depwAabon rates aNI melh¢)ds used as disdosed in note 16 is not applicable during this period but rf available they a￿ valugj at cost Invostments Fixed asset invgslments in qLtole(1 shares, tradgd bonds and similar wweslments are Val￿ 8t iniknalty al cost and subsequenuy at fail value Itheir market value} at the year end. The same treatEnent applied to unlisted inveStMer￿ unless fair valtje cannot be measuBJ reliably in ¢a* it 15 measured at C051 less impairrnenl_ Investments hehl lor resale or pending their sale and cash and cash with a matuiity date of less than 1 year are treatsd as cJJrrent asset investments stock5 and work Ih pn)gr•ss Stocks held for sale as part of non-chariiable trade are measured at th& Iwer OT Cost or net realisable value. Goods or Servi￿ provided as part of a ¢haritsbte activity a￿ l1wsur￿ at net realisable value based on the service poterthl provKled by items of stock_ Work in progress ts Va￿ed at ¢ost less arry forese•3blÈ loss that is likety to occur on the contracl. Debtors Debtors lin¢luding trade debtots ar*J toans ￿ceN￿ble) are measLwed on In￿￿1 recognil.son at settlemonl amount after any trade discounts or amount advan￿ by the charity. Subsequenty, they are measured at the cash or other considerab.on expected to be re¢eNed. Currnnt asjet Invgstmonts The charity has has investments whlch rt hokls for resalg or th￿r Sa￿ and cash cash equivalents with 8 maturity date less than one year. Trse indude cash on depostt and cash equivalents vthh a maturity dale of less than one year hehj invesbyth purposes rather than to meet short tem cash commrtments as they lall due. They are valued at fair v8lue except trEy qU￿lfy as ba$K financial in5trumenls. POLICIES ADopfED AODITIONAL TO OR DIFFEREirr FROM THOSE ABOVE There is no any other p)11￿$ adopted. 10 THE REDEEMED CHRISTIAN CHURCH OF GODtRCCG]-WFNNERS ASSEMBLY NOTES TO THEACCOUNTS coNrD FOR THE YEAR ENDED 31ST DEC. 2024 Note 3 Analysls ot Ineom ATraly Funds Funts Fund8 Funds Donations and legacle&' Donatsons aTvJ gffts GrftAKI Total 116292. 1153925$ 103.488 1B,884 122,372 115292A6 115292A6 TOYAL IIICOIAE 115292.$6 115.292.56 122,372 All Income In the prl•ryear wa% ¥nvostrfeW. Includkng the prfoTy¢ar.there was no matorlal th• above Ihat le4￿1ve dlsclosurg of Its nafyre and arnounL THE REDEEMED CHRISTIAN CHURCH OF GOD[RCCG]_WINNERS ASSEMBLY NOTES TO THE ACCOUNTS CONfD FOR THE YEAR ENDED 31ST DEC. 2024 Note 4 Analysis of ex￿nd1*￿Te Prlor y￿r Funds Analysis of expenditurg Unrgstrlct•d income ment Funds Funds Funds Total Funds DIRECT COST Grft Aid Admin Charges Central Offi Outsach IEvaThJelism) World Evangelism Mission Honourarium we￿are & Donations Stipendsl Allowancesl Salalles Medial Key BoaJW Music Expenses Trainingl Conferencel COng￿S5 PAYE & NIC Smart Pension 2.on 600. 120.LK) 5,400.(N) 900.00 4.120.71 23.7￿.48 600.00 120.00 120 5,400.00 600 900.00 1.300 4.120.71 680 23,790.48 21,946 12S 5,559 6.744 2,369 60 2,286 38.986.82 42.037 1.686.03 1.686.03 2,369.60 38,986.82 SUPPORT COST Advert & Publicty RepaiTS, maintenar￿e and RenewaEs Printing, and Stationary Telephone Insuran¢elLicences Business Rates Legal Expenses Travel Expenses Postages & Courier Services Books, CDS. El Bank Charges Computs'ng & Website Managemerrt Depreuation E￿ctriCity. Gas ,Fuel arKI Oll Rent Digital Communication Expenses Cleaning 180.CQ 132.00 914.52 1,033.72 880.03 2,976.45 180.00 132.00 914.52 1.033.72 880.03 2,976.45 524 1,317 605 3,352 300 8,618 105 130 60 8,441.04 110.00 75.00 6040 798.43 2.510.88 376.74 33,fXXJ.00 9989 1.799 33 $3.388A3 8.441.04 11000 75.00 60.40 798.43 2,510.88 2,443 376.74 432 33,0(K).00 31,750 99.89 1,799.33 1,818 $3,388.43 $2.459 TOTAL EXPENDITURE 92.375.25 92.375.25 91496 12 THE REDEEMED CHRISTIAN CHURCH OF GOD[RCCG].WINNERS ASSEMBLY NOTES TO THE ACCOUNTS CONT'D FOR THE YEAR ENDED 31 ST DEC. 2024 Note 5 D8tall$ of c•rtain items of axpenditur• 5.1 Fees for examination of the accounts Please provide details of the amount paid for any ststutory extemal scrutiny of accounts and other setvices provided by your independent examiner. If nothing was paid please enter'o, in the appropriate box(es). GOVERNANCE COST This Year Last Year Independent examinerfs fees 460.00 350 Bookkeeping and Accountancy 920.00 700 Payroll Servi￿$ and Pension Regulation 770.00 765 statutory Filing 130.00 125 2.280.00 13 THE REDEEMED CHRISTIAN CHURCH OF GODtRCCG]_WINNERS ASSEMBLY NOTES TO THE ACCOUNTS CONTD) FOR THE YEAR ENDED 31ST DEC. 2024 Note 6 Tan91b￿ fixed ass•ts Frgohold land & bulldlngs machinery C¢mixrtor & motor hklos Fixtures. ffttlngs & uipment Total Al the beginning of the year 23.732 92 23.732.92 Additions 2,780.52 2,780.52 At end of Ihe year 26.513.44 26,613.44 8.2 Deprnclatlon and impairmonts 'Basis Long Tem Leasehold Propetty Motor Vehicle Fixtures & Fittings Ghurch Equipment Computer Equipment 25% 20% 20% 20% Redu¢iThJ Balan Reduung Balan Reduang Balanc RedurAng Balance Rate At beglnnlng of the year Disposals Depreciation Impairment Transfe￿. (Add or Deduct) Al end of the year 13,959.04 13.959.04 2.510.88 2,510.88 16,469.92 16.469.92 .3 Not book value Net book value at the beginning of trÈ' Net book value at the end of year 9,773.88 10.043.S2 9.773.88 10,043.52 6.4 Impa]m￿fit- Mone Please provide a d&8¢riplion of the events arxl rircumstances that led to the wniti'on or reversal of an impainnent toss. 6.5 Revaluatlon An accounting pollcy of revafuatkjn Is not adopted during Ihis accounting perk￿. the effectwe date of the revaluatlon - NIA the name of independent valuer. rfapplicabte= NIA the methods applied 8fKI stgnrficanl assumptions= NIA the carrying amount that would have been rewnlsed had assets been earried the ¢08t model. 6.6 Other disclosures li) Please state the amount of bOrr￿1￿j costs, rf any, caprtalise(l in the construction of tangible fixed assets and the capitalisatlon rate u8erJ - NIA li1} Please provide the amount of contractual ccrfnmitments forlhe aL¥4ui*b"on of tangible f￿1 assets= NIA (iiil Detsils of the e￿Ster￿e and caryirrfJ amounts of property. plant ar¥J equipment to wthich the charity has restricted tide or that are p￿ged as se￿J￿ty for ￿abilIties- NIA 14 THE REDEENIED CHRISTIAN CHURCH OF GODtRCCG].WINNERS ASSEMBLY NOTES TO THE ACCOUNTS CONT'D FOR THE YEAR ENDED 31ST DEC. 2024 Note 8 Creditovs and a¢¢nDals Please complete this note if the chartty has any creditors or accruals. Amounts falling due after more than one year 8.1 Analysis of creditors Amounts falling due wrthin one year Accruals and deferred income Total 2.335.00 2,335.00 2,780 2,780 15 THE REDEEMED CHRISTIAN CHURCH OF GOD[RCCG]-WINNERS ASSEMBL NOTES TO THE ACCOUNTS CONT'D FOR THE YEAR ENDED 31ST DEC. 20 NOTE 11: CASH AT BANK AND IN HAND This Year Last Year Bank Balances Cash in hand Total 84.037.98 64.115 84.037.98 64,115 16