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← Redeemed Christian Chuch Of God Victorious Family Parish

2023-12-31-accounts

Company Registration number 08488900 (England & Wales)

Charity Registration number 1151893

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

Redeemed Christian Church of God

Victorious Family Parish

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Contents of the Financial Statements

Contents of the Financial Statements
for the Year Ended 31 December 2023
Page
Legal and Administrative information 3
Report of the trustees 4 - 7
Report of the independent examiner 8
Statement of Financial Activities 9
Balance Sheets 10
Cashflow Statement 11
Notes to the Financial Statements 12 - 16
Detailed statement of Financial Activities.
(Do not form part of notes to Financial statement). 17 & 18

2

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Legal and administrative information

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charitable company is constituted under a Memorandum of Association dated 15th April 2013 and is a registered charity with charity number 1151893.

REFERENCE AND ADMINISTRATIVE DETAILS

Company number

08488900

Charity number

1151893

Principal location

Rehoboth House 2 Bootham Close Rochester Kent ME2 2PG

Trustees

Mr. Oluwale Oguntoyinbo Mrs Olajumoke Dokun Kade Monde Mr Francis Jatto Mr Sheriff Eletu

Independent Examiner

Patricia Balogun (FCCA) Chrisdol Consulting Ltd Studio 21, Action House 53 Sandgate Street, London SE15 1LE

Bankers

NatWest Bank Plc 56 High Street Strood Rochester Kent ME2 4AG

3

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Report of the Trustees

for the year ended 31st December 2023

The board of trustees (who are also directors of the charity for the purposes of the Companies Act) submit their annual report and financial statements of Redeemed Christian Church of God (Victorious Family Parish) (the charitable company or RCCG VFP) for the year ended 31 December 2023. The board of trustees confirm that the annual report and financial statements of the charitable company comply with the provision and requirements of the Companies' Act 2006, Charities Act 2011, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005, and other current statutory requirement.

Structure, governance and management

a. CONSTITUTION

The charitable company is constituted under a Memorandum of Association dated 15th April 2012 and is a registered charity with charity number 1151893

BOARD OF TRUSTEES' RESPONSIBILITIES STATEMENT

The board of trustees (who are also directors of Redeemed Christian Church of God (Victorious Family Parish) for the purposes of company law) are responsible for preparing the board of trustees report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the board of trustees to prepare financial statements for each financial year. Under company law, the board of trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the board of trustees are required to :

in the financial statements;

b. METHOD OF APPOINTMENT OR ELECTION OF BOARD OF TRUSTEES

The management of the charitable company is the responsibility of the board of trustees who are elected and co-opted under the terms of the Articles of Association.

AIMS AND PURPOSES

The Redeemed Christian Church of God Victorious Family Parish is a Christian church which seeks to fulfil our purpose and calling as followers of Jesus Christ. Our main objective is to promote the gospel of our Lord Jesus Christ according to the doctrines and practices of the Redeemed Christian church of God and the alleviation of poverty. This we do in many ways as outlined in the report below. It is our belief that as we witness the love and blessings of God in our Christian community, we in turn are able to extend this to the larger society and draw others unto Jesus.

Objectives of the charity, principal activities and organisation of our work

The main objectives of the charity are:

  1. The furtherance of Christianity and the Christian education.

  2. Provision of a suitable atmosphere where Christian principles can be taught and developed within our community

  3. Establishment of a church open to all nations and nationalities where the practical Christian principles will be taught and experienced.

4

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Report of the Trustees

for the year ended 31st December 2023

It has been some years now since the Covid-19 pandemic ended, the impact and changes have been far reaching and enduring. Through it all, the church has continued to evolve and find ways to adapt to the new reality of a post – pandemic era. We are so grateful to God that the church has continued to march forward on all fronts to the glory of God. Here are some of the highlights of the year under review

Our mid-week meetings as well as our Sunday celebration gatherings continue to be conducted as a hybrid service across various social media platforms. The congregation continues to grow to the glory of God and to accommodate the numbers to provide the best service to the members, a second service commenced on the 21st of May 2023. An extra 100 chairs were purchased to provide more seating capacity in the building in the cause of the year, this is a testament to the great work God is doing. To further enhance the work of the church as we serve our community, a second church bus was acquired to help with the transportation needs of the church within the community. In addition to this, a church bus was purchased for our new church plant in Newcastle to enhance their operations in their community within Dunston, Gateshead.

Developments, Activities and Achievements in the year from January 2023 - December 2023

The Love Your Neighbour scheme of the church continues to go from strength to strength, active efforts to generate funds continues, a grant was received to help fund the operations. Through this scheme, families that are at risk of food poverty because they come from homes of limited income are supported in our community. This scheme is the vehicle to fulfil one of our objectives as a charity which is to alleviate poverty. Food parcels and some limited grants were made to support suitable candidates.

During the year, baptism classes were held for candidates who enrolled from the community, we have taken advantage of technology to conduct these classes over zoom. We are grateful for the first batch of candidates that completed the course

The church has continued to develop strategic partnerships with like-minded organisations and churches to pursue her aims and objectives. She continues to serve as a watch tower church interceding in prayers for local, regional as well as national issues facing our country. This financial year has also seen the church continue her support for other local charitable organisations through regular donations and support in every way possible.

Church Joint Mission Partnerships - Online

Saints Alive interdenominational evening of joint worship of churches across Medway Towns on 31st October featured a live service at the iconic Rochester Cathedral, it was great to be able to meet up with other believers in joint worship on a night dedicated to the celebration of Halloween.

Joint interdenominational prayers by churches in Medway Towns for missions across Medway on 23rd November

Christmas Connect joint carol service by churches across Medway on the 10th of December at the KICC Prayer city, Buckmore. Park. The guest speaker was Nicky Gumbel of Holy Trinity Brompton who is a key facilitator of the ‘Alpha Course’ project. and it was great to see believers from across the body join in worship. This was a hybrid service featuring across various social media platforms. As part of our drive to be a blessing to all members of the public under our public benefit agenda, the year saw the church partner with ‘Compassion organisation’ to sponsor children and take them out of poverty.

We have continued our ongoing support for the following charities: Christ the Redeemer (Bible) College (CRC), African Missions, with whom the charity actively encourages groups and members in the church to similarly sponsor children as a way of taking them out of the poverty line in various parts of the world irrespective of creed, gender, colour or religion.

Special Programmes the Church Held

This year, the church turned 19, to celebrate Gods faithfulness, we held a special two – day event featuring a thanksgiving concert on the 13th of May and a Special service on the 14th. It was a time to appreciate God and the congregation for the commitment to work over the past 19 years, to God be the glory.

As part of our drive for community impact, a community BBQ held on the third Sunday in August to provide an atmosphere to bring the community together irrespective of race, religion, orientation in an afternoon of fun, fellowship and feasting together for all ages held following a risk assessment.

During this financial year, the operational base for the regular in -person meetings of the Church when allowed has remained the Dock Road Chatham and we have continued to develop the premises to make it available for the community. To keep the connectivity and interactivity of the services, we moved on to the Zoom platform simultaneously broadcasting to our Facebook page.

5

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Report of the Trustees

for the year ended 31st December 2023

We have continued to work closely with other Christian organisations within Medway and are fully affiliated to Churches Together In Medway (CITM) an umbrella organisation for all Christian groups within the Medway towns focused on bringing the Christian faith alive in our communities

The church continues to support fully National and international commitments of the RCCG Worldwide and U.K. Executive leadership in line with our agreement of common purpose.

The Church charity in line with our agreement of common purpose signed with the leadership of the Redeemed Christian Church of God UK was able to make regular monthly contributions to the World Evangelisation Mission Fund (WEM) Similarly, the church donated where we could to the appeal funds of fellow churches in line with our charitable status and desire to also give a helping hand to others even as we receive help ourselves. We also joined the RCCG churches in the UK to participate fully in Online National programmes and events such as the UK version of the Holy Ghost services called Festival of Life (FOL), Bible College weekend, Annual Sunday school Conference, Elders’ weekend, and many others.

Future Developments

The charity aims to work hard in the new year to fully recover from the impacts of the pandemic and the increasing cost of living in all areas of her work strengthening and consolidating on improvements and innovations made in service delivery. We look to continue to extend its activities to all age groups within the immediate community in line with our vision of being a church for all nations and nationalities where everyone is welcome to fully enjoy the love of Christ. As an organisation, it is our vision that we will fully develop the media resources at the permanent venue to be able to do more to serve our community better even as we pursue the possibility of serving through community-based projects such as food bank provision, advice centre subject to the availability of funds and volunteers.

Public Benefit Statement

In determining how best to pursue the charity's objects the trustees have had regards to the Charity Commission's guidance on public benefit and are involved in Christian Outreach Programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus.

FINANCIAL REVIEW

Review of Financial Position

Please refer to the annexed accounts for the details of the financial statements for the year ended 31st December 2023.

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the free reserves) held by the church should be six months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the charitable company in the event of a significant drop in funding. Consequestly, the basis at which the chartity's going concern is reviewwed is considered appropriate and there are no material uncertainties.

Liquidity

It is the policy of the charity to maintain unrestricted funds which are the free reserves of the charity at a level which equates to approximately four months unrestricted expenditure. This provides sufficient funds to cover management, administration, support costs and emergency expenditure that might arise from time to time. The unrestricted funds are maintained at this level as a result of significant reserves entrusted to the RCCG ‘Victorious Family Parish’.

Risk Management

The trustees actively review the major risks which the charitable company faces on a regular basis and ensure measures and policies are put in place to safeguard charity funds and assets. The trustees also ensure that legal advice is sought when necessary on crucial issues concerning the charity and ministry.

The Church liability insurance is reviewed on a regular basis.

The cash handling procedures set up a few years ago is felt to be adequate in collecting, recording and banking voluntary income.

Cheques are signed by at least two signatories in accordance to the mandate at any one time.

Any potential hazards or issues which come to the attention of the leadership team of the RCCG Victorious Family Parish’ ‘are dealt with immediately.

An up to date Child protection policy to safeguard all children who attend our meetings is in place.

6

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Report of the Trustees

for the year ended 31st December 2023

Reserves Policy

The commission requires charities to determine and explain their policy for reserves. The trustees have reviewed its free reserves policy and have turned its entire free unrestricted fund into an emergency fund to enable the charitable company meet its obligation in event of a shortfall in income or sudden upturn in expenditure.

The charity has enough in its reserve to cover one year's operating expenditure. The charity is accumulating its reserve in order to provide for any future capital expenditure as the charity plans to fully refurbish its own place of worship in the future months ahead. The charity principal funding sources continues to be individuals who attend services and make contributions in form of freewill offerings, tithes and other donations. The charity also obtain funds through aggressive fund raising for the new project at hand.

Furthermore, the trustees meet quarterly to review the reserve level. If the value of the reserve falls below a level unacceptable to the trustees, the appropriate action will be taken immediately to rectify the situation.

MEMBERS' LIABILITY

The board of trustees of the charitable company guarantees to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

The board of trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Mr Oluwale Oguntoyinbo

Approved by the Trustees on 28th September 2024

7

REDEEMED CHRISTIAN CHURCH OF VICTORIOUS FAMILY PARISH

Independent Examiner's Report

For the year ended 31 December 2023

Independent examiners's report to the trustees of REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH.

I report on the accounts of the charity for the year ended 31 December 2023 which is set out on pages 9 to 16.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER

The charity's trustees who are also directors of the company are responsible for the preparation of the accounts accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

BASIS OF EXAMINER'S STATEMENT

My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below.

EXAMINER'S STATEMENT

In connection with my examination, I confirm that no material matters have come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:

  2. proper accounting records are kept (in accordance with section 41 of the Act); and

  3. accounts are prepared which agree with the accounting records and comply with the accounting requirements of Act; or

  4. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Independent Examiner

Patricia Balogun (FCCA) Chrisdol Consulting Ltd Studio 21, Action House, 53, Sandgate Street, London SE15 1LE

Date: 28th September 2024

8

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH Statement of Financial Activities for the year ended 31 December 2023

Notes
INCOME & ENDOWMENT FROM
Donations and legacies
3
Investment Income
Total Income
Expenditure
Cost of raising funds
Raising funds
Charitable activities
General funds
Total
NET INCOME / (EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
259,466
2,332		 Restricted
Funds
£
4,750
-		 Total Funds
December
2023
£
264,216
2,332		 Total Funds
December
2022
£
197,979
361
261,798
47,458
162,595		 4,750
4,750
-		 266,548
52,208
162,595		 198,340
22,940
133,552
210,053
51,744
171,594		 4,750
-
11,070		 214,804
51,744
182,665		 156,492
41,848
140,818
223,339 11,070 234,409 182,665

CONTINUING OPERATIONS

All incoming resources and resources expended arise from continuing activities.

9

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Balance Sheet

as at 31 December 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
7
30,125
CURRENT ASSETS
Debtors
8
16,594
Cash at bank and in hand
9
230,619
247,213
CREDITORS
Amounts falling due within one year
10
(53,999)
Net current assets
193,214
TOTAL ASSESTS LESS CURRENT
LIABILITIES
223,339
NETS ASSETS
223,339
FUNDS
Unrestricted funds
11
Restricted funds		 Restricted
funds
-		 2023
Total
funds
£
30,125		 2022
Total
funds
£
22,753
11,070 16,594
241,689		 17,986
188,767
11,070
-		 258,283
(53,999)		 206,753
(46,841)
11,070 204,284 159,913
11,070 234,409 182,665
11,070 234,409 182,665
223,339
11,070		 171,595
11,070
234,409 182,665

For the year ending 31 December 2023 the charitable company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

(a) ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 which otherwise comply with the requirements of the Companies Act 2006 relating to financial statement, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees

on 28th September 2024 and were signed on its behalf by:

.............................................

Mr Oluwale Oguntoyinbo -Trustee

10

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Statement of Cash Flows

for the year ended 31 December 2023

Notes 2023 2022
Cash generated from operating activties:
Net Cash provided by (used in) operating activities 1 66,921 42,530
Cash flows from investing activites:
Interest from invetsments 2,823 1,854
Purchase of tangible fixed asets (16,822) - 23,149
Net Increase/(decrease) in cash in the year 52,922 21,235
Cash in bank and in hand less overdrafts at the beginning of the year 188,767 167,532
Total Cash in bank and in hand less overdrafts at the end of the year 241,689 188,767
Notes
1
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM		 OPERATING ACTIVTIES
NET Income per Statement of Financial activities 51,744 41,848
Adjustmenst for:
Depreciation Charges 9,449 8,622
Deduct Interest from invetsments (2,823) - 1,854
Increase (Decrease) in Creditors 7,159 964
Decrease (Increase) in Debtors 1,392 - 7,050
Net Cash provided by (use in) operating activties 66,921 42,530

11

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH Notes to the financial statements

for the year ended 31 December 2023

2. ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of

Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard

applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

b) Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies required by

FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatements were required.

c) Preparation of the accounts on a going concern basis

There are no material uncertainties related to events or conditions that may cast significant doubt about the Charity's ability to continue as a gong concern have been identified by the directors.

Income

All incoming resources are mostly in financial form which the charity is entitled to and can be quantified with reasonable

accuracy. Collections are recognised when received by or on behalf of the church. Planned giving received under Gift Aid is

recognised only when received .

Income tax recoverable concerning donations received under Gift Aid or deeds of covenants is recognised at the time of the donation.

Fund accounting

General funding is unrestricted fund which is available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purpose.

Restricted fund is fund which is to be used in accordance with specific restrictions imposed by donors which have been raised

by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

The aim and use of each restricted fund is set out in the notes to the charged financial statement.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support

costs include back office costs, finance, personnel, payroll and governance costs which support the Trust programmes and

actvities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in teh cost of those items to which it relates.

f) Tangible fixed assets and depreciation.

12

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Notes to the financial statements

for the year ended 31 December 2023

Fixed assets are capitalised at cost. Depreciation is provided at rates to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

Asset category annual rate
Land and Building 2% straight line
Premises 20% straight line
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Office Equipment 20% straight line

g) Going concern basis of accounting

The ongoing global Covid-19 pandemic impact on the charity’s strategy for service deliver. The Trustees have considered the impact of this issue on the charity’s current and future financial position. The charity holds unrestricted, general reserves of £89,241. The Trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. The Trustees are closely monitoring the impact of the Covid-19 pandemic on the level of its funding available for future years following the crisis and have put in measures to to protect the charity.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Leasing and hire purchase commitments

There were no leases and Hire Purchases during the year under review.

Legal status of the Trust

The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Financial Performance of the charity

Operating profit
This is stated after charging:
Depreciation of owned fixed assets
Investment income
Deposit account interest received		 2023
2022
£
£
9,129
8,622
2,332
361

3. Investment income

  1. Comparative for the Statement Of Financial Activites

Income and Endowments from

Donations and legacies
Investment income
Total
Expenditure on
Raising funds
Charitable activities
General funds
Total
Net Income / (Expenditure)
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricited
Restricted
Total
Funds
Funds
Funds
£
£
£
197,979
-
197,979
361
-
361
198,339
-
198,339
22,940
-
22,940
133,552
-
133,552
156,492
-
156,492
41,848
-
41,848
129,748
11,070
140,818
171,595
11,070
182,665

13

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH Notes to the financial statements

for the year ended 31 December 2023

5. Trustees remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 December 2023.

Trustees' Expenses

There were no trustees' expenses paid for the year 31 December 2023.

6. Staff costs

Staff costs
Wages and Salaries
The average number of employees
No employees earned between £60,000 during the year (2022: 2023)		 2023
2022
£
£
33,198
33,378
1
1

7. Tangible fixed assets

Premises
Fixtures &
Fittings
Computer
Equipment
Motor
Vehicle
Plant & machinery
Total
£
£
£
£
£
£
Cost
At 01 January 2023
118,600
7,437
2,370
22,788
59,908
211,103
Disposals
-
-
-
-
-
-
Additions
-
-
1,599
13,945
1,278
16,822
At 31 December 2023
118,600
7,437
3,969
36,733
61,186
227,925
Depreciation
At 01 January 2023
118,600
7,437
1,751
4,558
56,005
188,351
Charge for the year
-
-
570
7,347
1,532
9,449
Disposal
-
-
-
-
-
At 31 December 2023
118,600
7,437
2,321
11,905
57,537
197,800
Net book value
At 31 December 2023
-
0
1,648
24,828
3,649
30,125
At 31 December 2022
-
-
619
18,230
3,903
22,752
8. Debtors: amount falling due within one year
2023
2022
£
£
Loan to staff and sister parish
603
603
Debtor - other
6,290
5,750
Net Wages
2,205
3,187
Prepayments
-
-
Credit Card (Tithe and Offering)
7,496
8,446
16,594
17,986
9. Cash balance
Bank Current Account (NATWEST Current)
16,376
19,085
Bank Current Account (NATWEST Current Others)
9,662
-
Bank Deposit Account (NATWEST Bonus Saver)
208,559
162,653
Cash in Hand
7,093
7,029
241,689
188,767
10. Creditors: amounts falling due within one year
Creditors
3,040
3,301
Accrued Expenses
50,960
43,539
Bank Loan
-
-
53,999
46,841
14		 Premises
Fixtures &
Fittings
Computer
Equipment
Motor
Vehicle
Plant & machinery
Total
£
£
£
£
£
£
118,600
7,437
2,370
22,788
59,908
211,103
-
-
-
-
-
-
-
-
1,599
13,945
1,278
16,822		 Premises
Fixtures &
Fittings
Computer
Equipment
Motor
Vehicle
Plant & machinery
Total
£
£
£
£
£
£
118,600
7,437
2,370
22,788
59,908
211,103
-
-
-
-
-
-
-
-
1,599
13,945
1,278
16,822
118,600
7,437
3,969
36,733
61,186
227,925
118,600
7,437
1,751
4,558
56,005
188,351
-
-
570
7,347
1,532
9,449
-
-
-
-
-
118,600
7,437
2,321
11,905
57,537
197,800
-
0
1,648
24,828		 3,649
30,125
-
-
619
18,230		 3,903
22,752
2023
2022
£
£
603
603
6,290
5,750
2,205
3,187
-
-
7,496
8,446
16,594
17,986
16,376
19,085
9,662
-
208,559
162,653
7,093
7,029
241,689
188,767
3,040
3,301
50,960
43,539
-
-
53,999
46,841

14

REDEEMED CHRISTIAN CHURCH OF GOD VICTORIOUS FAMILY PARISH

Notes to the financial statements

for the year ended 31 December 2023

11. Movement in funds

**11. ** Movement in funds
At Net Movement in At
01/01/22 Funds 31/12/22
£ £ £
Unrestricted funds
Charitable 171,594 51,744 223,339
Restricted Funds
Charitable 11,070 - 11,070
182,665 51,744 234,409
Net movements in funds, included in the above are as follows:
Incoming Resources Movement in
resources expended funds
£ £ £
Unrestricted funds
General Fund 261,798 (210,053) 51,744
Restricted funds
Restricted fund 4,750 (4,750) -
Total funds 266,548 (214,803) 51,744
Comparative for movement in funds
At Net Movement in At
**12. ** Movement in funds 01/01/21 Funds 31/12/22
£ £ £
Unrestricted funds
Charitable 129,748 41,848 171,595
Restricted Funds
Charitable 11,070 - 11,070
140,818 41,848 182,665
Net movements in funds, included in the above are as follows:
Incoming Resources Movement in
resources expended funds
£ £ £
Unrestricted funds
Charitable Fund 198,340 (156,492) 41,848
Restricted funds
Charitable fund - - -
Total funds 198,340 (156,492) 41,848
**13. ** A current year 12 months and prior year 12 months combined position is as follows:
At Net Movement in At
01/01/22 Funds 31/12/23
£ £ £
Unrestricted funds
Charitable 129,748 93,592 223,339
Restricted Funds
Charitable 11,070 - 11,070
140,818 93,592 234,409

Related party disclosures

There were no related party transactions for the year ended 31 December 2023.

14. Contingent liabilities

There was no contingent liabilities reported at balance sheet date nor was there an indication that there was any legal claim against the charity or its trustees.

15

REDEEMED CHRISTIAN CHURCH OF GOD (VICTORIOUS FAMILY PARISH) Detailed Statement of Financial Activities

For the year ended 31 December 2023

INCOMING RESOURCES
Voluntary income
Tithes & offerings
Thanksgiving
Gift aid claimed
Sundry donations
Building fund
Surplus on Disposal of Assets
Investment Income
Deposit account interest
Total incoming resource
RESOURCES EXPENDED
Cost of generating voluntary income
World Evangelical Mission
Central office charges
Donation to FOL
Donations - Other RCCG Parishes
Charitable activities
Purchase of tapes and books
Honorarium
Children's service expenses
Conferences, conventions and retreat
Outreach
Welfare support
Hospitality
Audio visual expenses
Publicity
Legal and professional fees
Audit and accountancy fees
Professional Fees, Licences & Permits		 December
2023
£
204,893
7,235
38,635
13,353
100
-
264,216
2,332
266,548
40,016
900
1,200
10,092
52,208
2,155
7,510
-
6,290
13,405
8,218
-
-
938
3,033
2,000
2,076
45,623		 December
2022
£
151,820
5,237
36,483
3,408
230
800
197,979
361
198,339
14,094
900
1,200
6,746
22,940
829
5,346
321
9,303
6,356
2,527
-
971
900
1,089
1,500
1,524
30,664

The notes do not form part of these financial statements

16

Detailed Statement of Financial Activities

For the year ended 31 December 2023

Support Costs
Management
Wages
Volunteer Expense
Rent and rates
Utilities
Telephone
Printing, postage & stationery
Insurance
Transportation
Repairs & renewals & Equipment Hire
Premises Expenses
General expenses
Depreciation Vehicle
Depreciation of office equipment
Depreciation of church equipment
Depreciation of church premises
Finance
Bank charges
Loan interest
Total resources expended
Net income		 33,198
200
12,750
3,917
1,600
2,592
4,470
8,593
12,902
14,679
9,797
7,347
570
1,532
-
114,148
2,823
-
2,823
214,804
51,744		 33,378
1,440
12,000
9,515
1,113
1,662
1,966
5,774
4,767
10,624
10,173
4,558
251
3,813
-
101,034
1,854
-
1,854
156,492
51,577

The notes do not form part of these financial statements

17