THE REDEEMED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY Charity Registered Number: 1152456 Company number 13786420 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31 DECEMBER 2023
THE REDEF.MED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS Pa Trnstee's Report Independent Examiner's Report Statement of Financial Activities Balance sheet 9-10 Nores to the Accounts 11- 14
THE REDEF.MED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, Irs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 General Overseer.. Pastor E A Adeboye Trllstees Pastor John Edobor Omaka Mrs Afolasade Oluyemidale Bright Mr Adebayo Adebiyi Pastor in Cl)arge'. Pastor Gbolahan Bright Charity regisiered number.. Company number 1152456 13786420 Resourcelworshipl Tuition Centre= 194 Rushgreen Road Roiiiford RM7 OJU Banker.. Barclays Bank It]dependent Examiner.. JOS Accountant5 Limited Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom
THE REDEF.MED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trust¢es of Th¢ R¢d¢em¢d Christian Church of God Th¢ Master's Sanctuary pr¢s¢nt their report and Financial Statements fi)r the year ended 31 st D¢c¢mb¢r 2023 whi¢h have been prepared in accordance '1th the Statement of Reconimended Practice, 'Accounting and Reporting by C'haritieq" i8su¢d in October 2000 and ReISed SORP 2005. Structure Governance and Mana a. CONSTITUTION The Church is ¢onstitut¢d under a Trusi deed and is a registered ¢harily with Charity rcgistration nutllbcr 1152456. ement b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES New trustees are elect¢d based on tl)e Lontribution that they will make to the governance of the organization and thc skills that th¢y will bring into the life of the charity. They arc provided with copies of the Charity Commission's guidance to trustees and intr()duced to the activities of thc charity by thc existing board. c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Existing trustees are provided with training as and when required. d. ORGANISATIONAL STRUCTURE AND DECISION MAKTNG The board of Trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. The 25 volunta worker& The Trustees are responsible for making all decisions regarding allocation of fund and activities. e. RELATED PARTY RELATIONSHIPS The Master's Sanctuary is a parish of The Redeemed Christian Church of God - a network comprised of parishes all over the world. There is an agreement of common purposes entered by The Master's Sanctuary with The Redeemed c.hristian Church of God which documents this relationship. Ob eetives and Activities a. POLICIES AND OBJECTIVES The Redeemed Christian Church of God The Master's Sancttiarv is a parish of The Redeemed Christian Church ot God. Our aim is to excel in every aspect of our Mission, Th'hilst at the sam¢ tim¢ ¢ontinually maintaining transpar¢n¢y and proper a¢¢ouniabilily The Charity's obj¢cls a.. l The advancement of the Christian religion worldwide; and ? The relief of poN'erty. Tow'ards the achievernent of these objects. the Charity operates a Christian worship centre at 194 Rush-green Road Romford, RM7 OJU organizing various events to promote the Christian faith and to reach out, in love, to the community at large.
THE REDEF.MED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023- CONT'D b. GRANT MAKING POLICIES Grants are made to other charitable bodies. The church supports missionary organizations such as the Festival of Life and the World Evangelical Mission, and other missions and projecrs 'Ithin and outsid¢ th¢ UK. c. VOLUNTEERS The charity is tnost appreciative of the unflinching sUPPOrt of its volunteets who tirelessly hclp in th¢ provision of s¢rviL¢. It is th¢r¢for¢ with gratitud¢ to God that we onc¢ again r¢port a robust tncmbcr5hip ¥ivin¥ wliich has significantly impactcd oncc again on our rcportcd figures for the year. We are pleased and thankful for their continuous commitinent and support. Mcinbcrs, contribution accountcd for Inost of our gross income. Thc church maintains her core objectives as well as the overall focus c)f the Redeeiiied Christian Church of God Mission as a whole. d. RISK MANA(iEMENT The Trustccs hav¢ ass¢ss¢d th¢ iiiajor risks to which thc iliarit), is ¢XPOscd. thos¢ r¢lat¢d to operations and financcs, and arc satisficd thosc systcms are in plac¢ to iiiitigatc cxposurcs to the major risks. Acbievemellts and erformance The Trustees are pleased to report that the Church continued to be successful spiritually and in the general well-being of its tnembers and worshippers. The Church coiitinues to improve in membership strength and is increasingly reaching out to the community. The church continues with regular evangelism, prayer, praise, and worship. Services are conducted at our worship center. Evangelical literature is distributed on major media platforms and physically. using door-to-door, and street evangelism.
THE REDEF.MED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 CONT'D These are the highlights of 2023 events and activities: We marked 'Jeans for Jesus Day, * W¢ conduct¢d our aniiual women confercncc * We organized bible school for the spiritual upliftment of our meinber. * W¢ organizcd aivards cvcning at Cov¢ntry Unii'crsity, Londun. * We regiilarly conducted our Friday Night Vigil * W¢ had our r¢gular trusi¢¢ meetings to discuss th¢ spiritual and ¢x¢cutiv¢ running of th¢ chiirch. * We had our cross ov¢r night servi¢¢ at Farn)hous¢ V¢nu¢, Rumford. * Our after Sunday servi¢¢ lun¢h ¢ontinues as an a¢t of love for on¢ another. Members and guests are fed physically and spiritually. Added to th¢w ar¢ the in¢r¢as¢ in th¢ l¢v¢l of donations of our members. As ststed in our previous report, the church set up a Fabric Task Group which involves some community services. Son]e of their activities during the year is clearingT the grounds of rubbish, clearingJ the drains to stop overflowingJ when it rains, cleaning the inside ot- the church main buildin¥. ensuring that it is tit for purpose. We thank the Fabric Task Group for looking after the building. We also thank all our 'olunteers for the various work done during that year. Finally. the offer of free Maths tuition continues to grow exponentially. In the current year, TMS experienced another record hiLJh with more students attending7 tuition. Help, support and mentorinbJ have enabled (ill students to succeed with stellar gTfcides. l am plea%¢d io report that God has been our help and strength. With all the various departments working collaborativelj, w¢ ¢onlinu¢ to grow and spread the gJosp¢l. Praise be to Godl Review of Transactions and Financial Position. 2023 2022 Gross Income 78,761 87,607 Net movement of funds 6,068 10,166 Net Generiite Funds 119,884 113,816
THE REDEF.MED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023- CONT'D Future Develo ment Plans The charity aims al building on its ¢urrenl achievemenr in eff¢cliv¢ly spreading th¢ ethos, love and hope that Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all. The charity is planning to buy the building being used as worship centre and start work to bring the vision to fulfilment. STATEMENT OF TRUSTEES, RESPONSIBILITIES Th¢ Trustecs arc rcsponsiblc for prcparing the Annual Rcport and the financial stafrtncnts in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statemcnts for each financial year. Undcr that laiv thc Trust¢cs have ¢lcct¢d to prepare the financial statements in accordance with United Kingdom Generally Accepted A¢¢ounting Practice (United Kingdoiii A¢counling Standards and appli¢able law). Th¢ financial statements are reqiiired by law lo give a true and fair view of the slale ofaffairs of Ihe Church and of the qurplii8 or deficit of th¢ Church for tliat period. In preparing these financial stat¢mcnts, thc Tru5t¢cs arc rcquira to.. 5clcct suitablc accounting policies and then apply them consistently; Inake judginents and ¢stimates that are r¢asonable and prud¢nt' prepare the financial statemeiits on the going ¢oncern basis unless it is inappropriate lo presuine that the Church w'ill continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with r¢asoiiabl¢ accuracy at any tim¢ thc financial posltion of th¢ Church aiid cnable thcm to cnsurc that thc financial ststctncnts coiiiplv ivith the Charities Act 1993. Thev arc also r¢spoiisibl¢ for safeguarding th¢ ass¢ts of th¢ Cl)urLh and hcncc for taking rcasonablc st¢ps for the prevention and detection of fraud and other irregularities. Independent Examiner The Trustees appointed JOS Accountants Limited, a fimi of Accounting & Management Consultants: as the Charity's independent examiner. A resolution for re-appointment as ind¢p¢nd¢nt examiner will b¢ proposed during th¢ Trust¢¢s meeting for the year. This report w&$ approvcd by th¢ trustccs and signcd on its bchalf by.. 25, June 2024 -}sign¢d/dale Pastor John Edobor Omaka
JOS ACCOUNTANTS INDEPENDENT EXAMINERS REPORT We have examined the financial statements, which comprise the financial activities, the balance sh¢¢t, th¢ related notes and the a¢counting policies of Th¢ R¢d¢¢m¢d Christian Church of God Th¢ Master's Sanctuary for th¢ year ended 31 st De¢¢inb¢r 9023. Respective rtsponsibilities of trustees and independent examiner As described earlier, the trustees are responsible for the preparation of tlie financial strdtem¢iirs. It is m! responsibility to ¢ary oiil an ¢xamination of thos¢ fiiian¢ial slat¢ments and to issue a report bascd on that examination. Scope of examination We coiiductcd my ¢xa]nination in accordance with directions ¥iven by thc Charity Comini5sioner5 under section 43(7)(bl of the Charities Act 1993. An exa]nination is limited to Cnquirics of the Lharitv's p¢rsonn¢l and analytiLal and rcviC. proL¢durcs appli¢d to financial data and this provides less assurance than ali aiidil. We have iiol perfomi¢d an audit, and accordingly. we do not express an audit opinion. Independent examiller's statement Iii coniicction ivith our cxatnination, no matter has cotllc to our attention.. l. Which gives me reasonable cause to believe that in any material respect the requirements.. To kc¢p accounting records iii accordance '1th s¢ition 41 of the Act; and To prepare accounts which accord with the accounting records and tc) comply with the acLOUlltin¥ r¢quir¢m¢nts of thc ALt havc not bc¢n m¢t- or 2. To which in our opinion, attention sliould be drawn in order lo enable a proper understandiiig ot the accouiits to be reached. 2510612024 - {sign¢d and datcd) JOS Ac¢ounlanls Limited Unit 3, 51-57 High Sir¢et South East Ham, London E6 6EJ Unit¢d Kingdom
THE REDEENfED CHRISTIAN CHURCH OF CTOD THE MASTER'S SANCTUARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Curreni l'ear Currtnr }'ear Resiricied Current 5.ear Toial Prior jear Ttsial Unrestricted Fullds Funds Funds Funds 2023 2023 2023 2022 INCOME & ENDOWMENT NOTES Donations and legacitS 78,761 78,761 87,607 F.XPF.NDITURF. ON.. Total cliaritable aCtiltIeS 70,¥33 70,833 76,161 Govtrnanc¢ costs 1.860 1.860 1.280 72,693 72ffj93 77A41 ExttsslldtfitLtI Intome 6,068 6,068 10,166 Fiinds brought forward 113,816 103,700 119884 113866 The lloles thereon fonn an illtegral part ot'thc accounts
THE REDEENfED CHRISTIAN CHURCH OF CTOD THE MASTER'S SANCTUARY BALANCE SHEET AS AT 31 DECEMBER 2023 Current vear Ciirreni ytar Restricted Currtni Jear Total Prior year Toral Unresiricied Funds Funds Funds Funds 2023 2023 2023 2022 Assets: Fixtd Assets 11,494 11,494 Rent dep051t 4.375 69 Current assets CJift aid r¢c¢iv¢ihl¢ 13.679 13,679 17.743 Piep(tid rertt 4,375 4,37S 4,375 Bank balancc 116.074 131175 138,192 Creditors.. Ainount falling due .-ithill one year 924 Net working capital 129428 129.428 137.268 145296 145.296 143.356 Financtd t)v'. Cieneral funds 119,884 119,884 113,816 Crediturs- Lun¥ tertn io 25.413 25,413 29,$40 145396 145,296 143,3_q6 The noies Ihereon fottn an iniegrdl part of the accounis
THE REDEEMED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY BALANCE SHEET AS AT 31 DECEMBER 2023 CON'D The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 foi the year ended 31 December 2023. The Tnetnber5 have not required the charitable coinpaiiy to obtain an audit of its financial statetneiits for the )'ear elided 31 Deceniber 2023 in accordance with Section 476 of the Companie5 Act 2006. The tru5tee5 acknowledge their responsibilities for la) ensurinu that the charitable compaiiy keeps accouiitin¥ records that comply with Sections 386 and 387 of the Compai)ies Aci 2006 and Ibl preparing financial statements which give a true and fair view of the state ol'affairs of the charitsble company as at the ei)d of each financial }'ear and of its surplus or deficit lor each financial year in accordai)ce with the requiren)ents of Seciions 394 and 395 and which otherwise comply with the requirements ol. the Companies Act 2006 relaiii)g to financial stateinents. so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating 10 small charitable companies and wilh the Financial Reporting Standard for Smaller Entities (effective April 20081. The financial siatemenis were approved by the Board of Trustees and were signed on its behalf by.. 2510612024 -} Signed & dated Pastor John Edobor Omaka (TrusteelDirector) 2510612024 -} Signed & daied Mrs Afolasade Oluyemidale Bright (TrusteelDirectorl io
THE REDEEMED CHRISTIAN CHURCH OF GOD THE MASTER'S SANCTUARY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER ?023 l Aeeounting Policies: The financial statements have been prepared in accordance with applicable Accounting Sthi)dards in the United Kingdom with ihe application of FRSSE and the Staiement of Recomniended Praciice, 'Accouniing and Reporting by Chariiies" {"SORP 2000 and SORP 2005,1 issued bj the Chariiy Commission. A summary of the principal accounting policies. which have been applied consistenily, is sei out below. al Basis of Preparation of Financial Statenients The fiiiancial statements ale prepared under the historic cost convention and include the results of the Charity's tsperatioiis, whicl) ale described in the Trnstees Reptsrt. all of wl)i¢h are continuing. bl Coniparative Figures Coniparative figure5 are sho1 on the stateinent of Accounts of the charity. c) Incoming Resources All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable. dl Restricted funds The restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure: which meeis these criteria, Ivill be identified to the fund, together with a fair allocation of management and support costs. el Unresiricted Funds Unrestricted funds are donations and Lither incomes received or generated for the Libjects of the Charity wiihoui further specified purpose and are available for general funds. fj Resource5 Expended Direci Charitable Expendiiure includes all expenditure incurred by the Charity in direct pursuit of its charithble objeciiwes. Governance expenditure includes all costs not directly relad to the Charitable activities and cannot allocaied to direct charitable expenditure. gl Donated Services and Gifts in Kind The value of donated services and gifts in kind provided to the charity is recogi)ised in the statement of finaiicial activities and in the Balance Sheet at their Value to the Chaiity, as detennined by the Trusttes, in the period li) which they are receivable, and where the benefit is both quantifiable and material. fj Tangible fixed assets Depreciation is provided on a straighi line basis at the following annual rates in order to write off each asset over ils estimaied useful life. Musical equipment-25 /0 Office equipment-25 /0 gl Taxation The charity is exempt from corporation tax on its charitable activities.
THE REDEEMED CHRISTIAN CHIIRCH OF CIOD THE MASTER'S SANC.TUARY NOTES TO THE ACCOUNTS ENDED 31 DECEMBER 2023 CONT'D Deiailtd anali'sis of income and exptndiiure for the year tnded 31 December 2023 as rtquired b}, the SORP 2015 Current vear Current sear Rtsiricied Cllttent year Toral Prior Near Unrestricted Total Funds Funds Funds Funds NOTES 2023 2023 2023 2022 Donaiions. granis and Itgacits Titht & otlering 60,573 60,573 60,053 Gitt Aid 9,842 9,842 10,926 Building Offering 3,005 3,IX)5 5,000 Grants 3,914 OihLr income 1,063 1,063 Oiher donaiiort 4,279 4,279 7,714 78.761 78.761 87,607 Charitable aetivities- Direet endin Outreach & Publicity. 1,695 1,695 952 Conferences & Serniiiar 4,276 Maih5 tuition 26,U87 26,V87 17,000 Welfares 2,064 2,4 3,9¥7 'l-rnining 90 90 F.nt¢rtainin¢nt & I lospitality. 5,246 5,246 10,916 Vi%iling niini4ler% 1.791 442 36,973 36,973 37.573 12
THE REDEEMED CHRISTIAN CHIIRCH OF CIOD THE MASTER'S SANC.TUARY NOTES TO THE ACCOUNTS ENDED 31 DECEMBER 2023 CONT'D Current vear Current sear Rtsiricied Curreni wtar Prior Near Unrestricted Total Total NOTES Funds Funds Funds Funds Charirable aciiTriiies- Grant 2023 2023 2023 2022 fundin RCCG-Central Office WEM & cor 400 400 6.460 400 400 Support costs for charitable aclivities Pr¢mis¢s & admiiiisira¢iv¢ cost5 Relit and ral¢ 21.667 21.667 19.006 Hire i)f Container 4,212 Admini.8trativ¢ expens¢5 2,139 1,246 1,246 1,300 Insurance 612 TclLphonc 743 Oftict Supplies 504 Subscription 512 512 Deprtcialion 720 7?0 704 Salarj and ageS 7,925 7.925 ProtC55ional fees 1.391 2.908 33.461 Total ¢haritabl¢ ¢xpenditure l)ir¢ct 5p¢nding 36,973 36.973 37,573 Granttnaking aLlivilie5 400 400 6,460 Supp()rt L()%ts' 33,461 33,461 32,128 70,833 70,833 76,161 Other expendilur¢- gOtran¢t costs Inierest on loan 585 585 680 Independent txamination 1.275 -275 600 1.86U 13
THE REDEEMED CHRISTIAN CHURCH OF GOD THE MA8TER'S SANCTIJAR Y NOTE8 To THE ACCOIJNTS ENDED 31 DECEMBER 2023 c'r)NT'D Office Fixed C(Jn%truetii) COSLS l January 2023 3.597 i.274 Addition duriiig the year 10,200 10.500 3.898 10.2(M) DepreGialion A5 al l Januatv 2023 Charg¢d lor Ihc ycar 720 1.945 4.281 Net BLM)k Vue Jl$i Dtttmber 21111 3l5t DttetThber 2D22 277 279 Cutrenl Trear Current veat Ciirrenl )'eJr Unrestricted Restricted Total Funds Funds Funds Fund5 Creditors-. Amount falling due withiii one vear 2023 2023 2023 2022 Sundriry cieditors 124 Professional charges 1,747.05 800 924 Crcditvrs." Atnvunt falling duL yLar RBI. l.loids bank loan 25,413 29.540 25.413 29.54 14