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← The Redeemed Christian Church Of God, House Of Love Coventry

2023-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD

HOUSE OF LOVE COVENTRY

REDEEMED CHRISTIAN CHURCH OF GOD

HOUSE OF LOVE, COVENTRY

TRUSTEE’S REPORT AND ANNUAL ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

1

THE REDEEMED CHRISTIAN CHURCH OF GOD

HOUSE OF LOVE COVENTRY

Page
Corporate Information 3
Board of Trustee’s Report 4
Independent Examiner’s Report 12
Statement of Financial Activities 13
Statement of Financial Position 14
Accounting Policies 15
Notes 16

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Corporate Information

Charity Registered Number: 1150924

Board of Trustees

Dr Adebola Ogunoiki

Dr Mosunmola Fapohunda

Mr Oladapo Awosokanre

Registered Office

82, Riverpark Way, Northfield

Birmingham, B31 2GB

United Kingdom

Contact: Pastor Babatunde Kikiowo

Phone: +44(0)7877949077, +44(0)247510 77 77

Bankers:

Lloyds Bank Plc, Coventry, CV1 5RA

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Board of Trustee’s Report

OVERVIEW

The Trustees hereby submit their report and Annual Account Statement for the year ended 31st December 2023.

Aims & Objectives:

The main objectives of the Redeemed Christian Church of God, House of Love, Coventry are:

b) Providing a serviceable place for Christian principles and practices to be taught, developed within the local community and the neighbourhood it serves.

Being a Christian faith-based organisation, we offer various charitable services and facilities to all members and to the community at large where reasonably and practicable possible.

For effective administration and discharge of its Objects as a Charity organisation, the Trustees (inaugurated in June 2013) work as a team with the Church leaders to provide strategic support required for the Church to efficiently manage its various inlet and outlet services to the members, the Canley Community, its neighbourhood and the Warwick University students.

The services already being provided by the Church include:

  1. Advancement of the Christian faith through regular weekly services held at a designated place to teach, encourage, empower and enlighten members of their Christian faith and godly principles, moral standards and living.

  2. Meet with the local community once a month to identify issues and create forum to address matters that foster communal growth and social / welfare development.

  3. Publish and distribute information on leaflets for faith and moral growth.

  4. Provide networking opportunities and facilitate social outings for children and the youth groups.

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Board of Trustee’s Report

  1. Support new arriving students to settle easily and cost effectively with

  2. less stress.

  3. Work with existing Christian organisations, social networking groups and welfare organisations to foster family cohesiveness and improve communal living standards.

Structure, Governance & Management – Statement of Trustee’s Responsibilities

In order to ensure good practice and accountability, the Trustees have written, adapted and adopted various working policies, practices and guidelines which now constitute the charity’s Governing document to guide the person(s) responsible for managing the week-to-week activities within the confines of the Laws and Acts of United Kingdom.

These working / governing document includes,

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Board of Trustee’s Report

Other measures by which the Trustees manage the Trust and ensure effective use of resources for the Church Object and accountability include the use of the following evaluation and control tools:

The Trustees:

1. Membership:

Trustees are appointed under the terms of the trust deed. New Trustees are given induction on appointment, explaining the overview objectives of the charity and the requirements of the Charity Commission. During the financial year, two additional members were appointed to the board.

2. Meetings:

The trustees held one board meeting within the financial year of this report. The Board of Trustees’ meeting held the 24[T] Board of Trustees Meeting on 23[RD] of April 2023. The Board of Trustees developed an action plan for the Church on the current status of the church with respect to the members and students as well as plans to continue the work done in the Canley area and to increase membership, the financial sustainability of the church and build partnerships with other charity organisations to strengthen the local community. The 25[th] meeting of the Board of Trustees was held on the 17[th] September 2023 to follow up on the actions from the meeting held earlier in the year on the 23[rd] April 2023.

3. Powers of Trustees

Subject to the Articles, the Act, governing document and any additional directions given by the Church, the Trust will continue to be managed by the Board of Trustees

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Board of Trustee’s Report

in conjunction with the Church leadership, and may exercise all the powers of the Trust Deed, whether relating to the management of the Charity or not. It may also hold extra-ordinary meetings and resolve issues through ordinary or special resolutions.

Public Benefit Statement:

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charities and Public Benefit".

Achievements and Performance:

The year 2023 was very demanding, with the cost-of-living crisis at its peak. The church greatly supported parishioners in the Canley community and beyond.

Specifically, the following programmes were held in 2023.

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Board of Trustee’s Report

We continue to support the Church members during the cost-of-living crisis by providing pastoral support during this challenging time practical support, and, in some cases, financial support.

The Church also supported families with children by providing pastoral support. The Church continued using our premium zoom account to have regular group sessions with children, including games, Sunday school, Bible competitions. This was very beneficial as it helped families in times of need or social exclusion.

Investments: The Church made investments in the equipment by obtaining

Charity Donations: We supported Coventry Food Bank with £250 as the Board of Trustees approved. As expected for her charitable duties, the Church provides welfare assistance to its members and the community, including Christmas outreach for residents in the Canley locality.

The Church Outreach Programmes: The Church conducted a program for the older adults in the community to foster a sense of belonging when we visited The Midlands Heart Sheltered Accommodation as part of our local Christmas Outreach in the community.

Youth fellowships commenced every other/alternate Thursday.

We worked with other churches in Coventry City for the Light up Coventry.

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Board of Trustee’s Report

House of Love church Conducted a Training programme for all volunteers in the Church May 2023

Major Purchases:

Church Bus (8 seater) - For Evangelism and Helping Students to Church services. The bus cost ~£10,500. The car insurance is such that anyone with a full driving licence

and over the age of 25 can drive the bus. September Student Outreaches - 5 extra Public Banners, Jackets, New fliers and

the church has a new phone number which is 02475 10 77 77 which diverts call to

the right person such the transport team, the welfare team, Pastor Tunde, etc. The Church is up to date with all bills. WEM (Evangelism Strategy of RCCG) and COF

(Central Office Fund) are up to date. The Church is still supporting the Coventry Food Bank with a monthly donation of £50. Other programmes for the year are:

The RCCG has bought a Camp in Pierepoint Surrey and the HoL will made a

contribution towards.

Challenges: Xcel Leisure Centre increased the hourly rate from £25 to £30.

Growth: The Church attendance remained stable around total of Seventy souls- due to a number of families relocating from the area but this was balanced by other families arriving in the church.

Expenditure: The House of Love has paid all her bills for the year 2023 (Rent, Subscriptions, WEM Payments, and COF Payments).

The Future Plan & Development

The plan of the Church is to secure its own permanent property within the Canley locality. This it believes would allow the church to be more supportive to the community in terms of social, educational, and spiritual development. And this will allow the church to execute the following key areas of its long-term plans which includes

  1. To support the community with a Crèche facility for children.

  2. For the Church to have a place of its own with facilities for administration, Church service, training, and community Centre.

  3. To provide a secure place for the Church equipment (assets).

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Board of Trustee’s Report

  1. To provide a Centre for training/workshops and learning to equip members and the community academically, socially, and professionally.

To engage the Church departments in addressing planned programmes including welfare and social development and planning for subsequent years.

To provide additional support and trainings to help departmental heads, volunteers and staff in conforming to best practices and adhering to Charity Commission’s requirements.

To engage more proactively in community focused activities and social interaction.

Financial Report:

At the end of the fiscal year (31st December 2023), total income received from donations and legacies were of £44,136 (2022: 37,790). Income includes the amount of £5,619 being estimated towards gift aid receivables. Total expenditure was £34,449 (2022: £28,531), giving an operating surplus of £9,686 (2022: £9,259). Cash in hand and bank amounted to £66,757 (2022: £72,080).

The Charity is aware of the need to have a documentary policy in place regarding reserves. This is currently under review by the Trustees.

The Trustees are responsible for preparing the annual review in accordance with the applicable law and regulations. Our responsibility is to report the consistency of summarized financial statements within the annual review with the full financial statements and the Trustees’ report.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Church’s transactions and disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charity Commission standard.

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Board of Trustee’s Report

The Trustees are also responsible for the safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Responsibility Statement:

We confirm that to the best of our knowledge,

Our report has been prepared pursuant to the requirements of the Charities Act 1993 and for no other purpose. No person is entitled to rely on this report unless you have been expressly authorized to do so by our prior written consent.

We do not accept responsibility for this report for any other purpose and we hereby expressly disclaim any and such liability.

This report was approved by the Board of Trustees on 25th October 2024

Signed: Full Name: Dr Adebola Ogunoiki Position: Board of Trustee Chairperson Date: 25th October 2024

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Independent Examiner’s Report

Report to the trustees/members of: The Redeemed Christian Church of God, House of Love, Coventry. On accounts for the year ended: 31st December 2023, set out on pages 13 - 16

Charity No: 1150924

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a 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 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 examiner’s statement

In connection with my examination, no matter has come to my attention low:

Signed: Date: 25th October 2023

Name: Tobi Labeodan, for and on behalf of Chedders Ltd

Relevant professional qualification(s) or body (if any): ACCA

Address: Ground Floor, Synium House, r/o 94-96 High Street, Henley in Arden B95 5FY

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Statement of Financial Activities: Year Ended 31st December 2023

Notes
Income:
Donations and legacies
1
Other income (Grants)
1
Total Income
Total Income
Expenditures on:
Charitable Activities
2
Other Charitable Activities
2
Other Costs
2
Total Expenditures
Net income/(expenditure)
Transfers between funds
Other recognised gains/(losses):
Gains/(losses) on revaluation of fixed assets
Gains/(losses) on investment assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward at 1 January 2023
Total funds carried forward at 31 December 2023		 2023
2023
2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
38,517
38,517
5,619
-
5,619
44,136
-
44,136
44,136
-
44,136
20,579
-
20,579
10,516
-
10,516
3,355
-
3,355
34,449
-
34,449
9,686
-
9,686
-
-
9,686
-
9,686
59,458
28,130
87,588
69,145
28,130
97,275		 2022
2022
2022
Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
32,979
-
32,979
4,812
-
4,812
37,790
-
37,790
37,790
-
37,790
17,222
-
17,222
8,534
-
8,534
2,775
-
2,775
28,531
-
28,531
9,259
-
9,259
-
-
9,259
-
9,259
50,199
28,130
78,329
59,458
28,130
87,588

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Statement of Financial Position as of 31st December 2023

Notes
Fixed Asset
Tangible assets
3
Total Fixed Asset
Current Assets
Loans & Advances
Accrued Income
Cash at bank and in hand
Other Debtors
Total Current Assets
Creditors: amounts falling due within one year
Other Creditors
Other Current Liabilities
Total Creditors: amounts falling due within one year
Net current assets (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Bank loans and other finance (long term)
Other Non-Current Liabilities - Vehicle finance
Total Creditors: amounts falling due after more than one year
Total net assets (liabilities)
The funds of the charity:
Restricted Reserve
General reserves
Surplus/(Deficit) for the year
Total charity funds		 2023
£
11,820
11,820
19,573
66,757
-
86,330
875
875
85,455
97,275
-
97,275
28,130
59,458
9,686
97,275		 2022
£
2,430
2,430
-
13,954
72,080
-
86,034
875
875
85,159
87,588
-
-
-
87,588
28,130
50,199
9,259
87,588

Accounting Policies

Scope and Basis of the Financial Statements

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities published in March 2005.

Income

Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.

Expenses

Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Fixed assets

Fixed assets with an individual purchase of £300 or more are capitalised and stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Fixtures and fittings 20%
Equipment 20%
Vehicles 20%
Building 2%

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Notes

1. Income

Income Donations and legacies Restricted Income Total donations & legacies Other income Gift Aid Receipts Other income Total other income

Total Income

2023
£
38,517
-
38,517
5,619
5,619		 2022
£
32,979
-
32,979
4,812
4,812
44,136
37,790

2. Expenditures

Charitable Activities
Premises
Utilities
Travel
Motoring & Transportation
Insurance
Administration
Advertising
Operations
Finance Charges
Depreciation
Honorarium
Total Charitable Activities
Other Charitable Activities
Outreach
Central Office
Welfare & Benevolence
Charitable Donations
Total Other Charitable Activities
Other Costs
Professional fees and services
Other costs
Legal fees
Accountancy fees
Total Other Costs		 2023
£
5,355
140
3,499
1,725
1,600
1,040
3,864
1,110
2,246
20,579
2,100
3,322
1,143
3,951		 2022
£
3,490
-
1,419
238
554
1,899
6,996
425
2,200
17,222
2,486
4,581
67
1,400
10,516
2,830
525
3,355		 8,534
2,250
525
2,775

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Notes

3. Tangible Assets

Cost
At 1st Jan 2023
Additions
Disposals
Revaluations
At 31st Dec 2023
Depreciation
At 1st Jan 2023
Charge for the year
Adjustments
At 31st Dec 2023
Net Book Value
At 1st Jan 2023
At 31st Dec 2023		 Property
£
-
-
-
-
-
-
-		 Vehicles
£
-
10,500
-
-
10,500
-
525
-
525
-
9,975		 Sound &
Musical
Equipment
£
1,516
-
1,516
172
303
475
1,344
1,041		 Computer
& IT
Equipment
1,407
-
1,407
322
281
-
603
1,085
804		 Total
£
2,923
10,500
-
-
13,423
493
1,110
-
1,603
2,430
11,820

4. Related Party Transactions

During the year, the church made donations and contributions to other RCCG and charitable organisations as shown in note 3 under Central Office and Charitable Giving.

5. Trustee Remuneration & Expenses

During the year, there were not payments or reimbursement of expenses to trustee members.

6. Staff cost and numbers

No employee received remuneration amounting to more than £60,000 in the year

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