# **THE REDEEMED CHRISTIAN CHURCH OF GOD COVENANT SANCTUARY**
Company Reg. No: 08480219 Charity Reg. No: 1152924
AMENDED Replace the Original Accounts Are now the Statutory Accounts Are prepared as they were at the date of the original Accounts
**DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDING 30 APRIL 2021**
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2021
|**CONTENTS**|PAGE|
|---|---|
|Reference and administrative details|2.|
|Directors report|3 - 6|
|Independent Examiner's report|7.|
|Statement of Income & Expenditure|8.|
|Balance sheet|9.|
|Notes to the accounts|10 - 12|
Page 1
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE PERIOD ENDED 30 APRIL 2021
|**Directors**|Mr Felix Adesola|
|---|---|
||Mr Abayomi Badejo|
||Mr Olanrewaju Salami|
|**Company Secretary**|Pastor Olasunkanmi Onanuga|
|**Company registered**||
|**number**|08480219|
|**Charity registered**||
|**number**|1152924|
|**Place of Worship**|Forest Lane Lodge|
||Forest Lane Park|
||Magpie Close|
||Forest Gate|
||London|
||E7 9DE|
|**Parish Pastor**|Pastor Olasunkanmi Onanuga|
|**Independent Examiner**|Lukmon Bola Ogunbadejo IFA/MPA|
||Two Ace Accountants|
||11 Anglia Way|
||South Ockendon|
||RM15 5FN|
|**Bankers**|Barclays Bank PLC|
||1 Churchill Place|
||London|
||E14 5HP|
Page 2
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
DIRECTORS' REPORT FOR PERIOD ENDING 30 APRIL 2021
The Directors submit their report and financial statement for The Redeemed Christian Church of God Covenant Sanctuary (The Charity) for the period ended 30 April 2021. The Directors confirm that the directors' report and financial statements of the company comply with current statutory requirements of the company's governing document and the provisions of Companies Act 2006.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Redeemed Christian Church of God Covenant Sanctuary is incorporated in England and Wales as a charitable company. The Company is limited by guarantee with company registration number is 08480219. It is registered with the Charity Commission as a charity in England and Wales and the registration number is 1152924.
## **APPOINTMENT OR ELECTION OF DIRECTORS**
Directors are appointed and or co-opted under the terms of the constitution.
## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES**
The induction process for a newly appointed Director comprises of an initial meeting with the the chair and other Directors, followed by short meetings with the parish pastor on the powers and responsibilities of the Directors.
## **ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The charity is organised so that the Directors meet regularly to manage its affairs. The parish pastor manages the day to day administration of the church.
## **RELATED PARTY TRANSACTION**
RCCG Covenant Sanctuary is a parish of The Redeemed Christian Church of God which has parishes all over the world. The parish's relationship with other parishes is governed by an Agreement for Common purposes.
## **RISK MANAGEMENT**
The Directors have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks.
## **OBJECTIVES AND ACTIVITIES**
The principal object is the advancement of Christian faith in accordance with the statement of beliefs of The Redeemed Christian Church of God, and the relief of poverty. To achieve its objectives, the church adopted the following strategies:
Running Sunday worship services and midweek bible study, Supporting other charities and Christian events,
Page 3
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
## DIRECTORS' REPORT
FOR PERIOD ENDING 30 APRIL 2021
## **PUBLIC BENEFITS**
The Church's Sunday and mid-week services are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in the following public benefit efforts:
- Had retreats for different natural groups; Children, Teenagers, Youth and Couples to promote good family values and responsible people.
- Holding outreaches in areas of interest to our community, such as the care homes. In the year we shared the joy of Christmas and celebrated the Mothers' day with residents of a care home in our community. We gave gifts, sing Christmas carol and spent quality time with the residents.
Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.
## **GRANT MAKING POLICY**
The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes. The Church supports other charities and missionary that shares its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grants to congregational members who are in need.
## **VOLUNTEERS**
The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 1000 hours are provided by volunteers during the year. If this is conservatively valued at £7.50 per hour, the volunteers’ effort will amount to over £7,500.
## **REVIEW OF ACTIVITIES**
The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of faith contained in our constitution.
## **RESERVES POLICY**
The trustees’ policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable the current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is below the policy range but the trustees are continuing to seek additional funds for the reserves.
Page 4
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
**COVENANT SANCTUARY** DIRECTORS' REPORT FOR PERIOD ENDING 30 APRIL 2021
## **PRINCIPAL FUNDING**
Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects.
## **FUTURE DEVELOPMENTS**
The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in the community.
Page 5
## **THE REDEEMED CHRISTIAN CHURCH OF GOD COVENANT SANCTUARY** DIRECTORS' REPORT FOR PERIOD ENDING 30 APRIL 2021
## STATEMENT OF DIRECTORS' RESPONSIBILITIES
The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law, the Directors have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the financial statements, the Directors are required to:
- Select suitable accounting policies and the apply them consistently;
- Make judgement and estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The Directors recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 company and hence taking steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by the Directors on 12th of May 2021 and signed on their behalf by:
## **Mr Felix Adesola Director**
Page 6
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
## INDEPENDENT EXAMINERS REPORT
FOR PERIOD ENDING 30 APRIL 2021
## TO THE DIRECTORS OF THE REDEEMED CHRISTIAN CHURCH OF GOD COVENANT SANCTUARY
I report on the accounts of the charity for the period ended 30 April 2021 which is set on pages 8 - 12
## RESPECTIVE RESPONSIBILITIES OF THE TRSUTEES AND THE EXAMINER
The charity Directors are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for the period under section 476 of the Companies Act 2006 and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section145 of Charities Act 2011;
- follow the procedures laid down in the general Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## BASIS OF MY EXAMINATION
My examination was carried out in accordance with the 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 account, 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 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 statements below.
## EXAMINER'S STATEMENT
In connection with my examination, no matter has 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:
- proper accounting records are kept in accordance with the companies Act; and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Companies Act 2006; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Lukmon Bola Ogunbadejo IFA/MPA 13th of May 2021 Two Ace Accountants
Page 7
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
STATEMENT OF FINANCIAL ACTIVITIES FOR PERIOD ENDING 30 APRIL 2021
|**Unrestricted**
**Funds**
Notes
**2021**
**Incoming resources**
**£**
Grant from Government
Church Revitalisation Trust (CRT)
Donations & incoming resources
11,290
0
41,955
Total incoming resources
**53,245**
**Resources expended**
Grants payable - individuals
-
Grants payable - institutional
13,621
Cost of activities in furtherance of charity's objects
17,427
Management and governance cost
1,629
**Total resources expended**
**32,677**
Net(outgoing)/incoming resources for the year
20,568
Total funds at the start of the year
59,123
Balance at the end of the year
79,691|**Unrestricted**
**Funds**
Notes
**2021**
**Incoming resources**
**£**
Grant from Government
Church Revitalisation Trust (CRT)
Donations & incoming resources
11,290
0
41,955
Total incoming resources
**53,245**
**Resources expended**
Grants payable - individuals
-
Grants payable - institutional
13,621
Cost of activities in furtherance of charity's objects
17,427
Management and governance cost
1,629
**Total resources expended**
**32,677**
Net(outgoing)/incoming resources for the year
20,568
Total funds at the start of the year
59,123
Balance at the end of the year
79,691|**Restricted**
**Funds**
**2021**
**£**
0
8,344
4,269
**12,613**|**Restricted**
**Funds**
**2021**
**£**
0
8,344
4,269
**12,613**|**Total**
**Funds**
**2021**
**£**
11,290
8,344
46,224
**65,858**
-
13,621
21,245
1,629
**36,495**
29,363
54,033
**83,396**|**Total**
**Funds**
**2020**
**£**
8,101
0
51,217
**59,318**
-
12,619
44,732
1,310
**58,661**
657
53,376
**54,033**|
|---|---|---|---|---|---|
||||
**12,613**|||
||||-
-
3,818
-|||
||**32,677**
20,568
59,123||
**3,818**|||
||||8,795
-5,090|||
||79,691||**3,705**|||
Page 8
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
BALANCE SHEET AS AT 30 APRIL 2021
|**Unrestricted**
**Funds**
**Restricted**
**Funds**
Notes
**2021**
**2021**
**Fixed Assets**
**£**
Tangible fixed assets
**Current assets**
Cash at bank and in hand
7
**Less: Current Liabilities:**
Creditors: Amount falling due within
One year
8
**Net assets**
**Financed BY: Charity funds**
General - restricted
General - unrestricted|||
|---|---|---|
||||
||
||
- (a) For the year ending 30 April 2021 the company was entitled to exemption from audit under section
- 477(2) of the Companies Act 2006 relating to the small companies’ regime.
- (b) The members have not required the company to obtain an audit of its account in accordance with section 476 of the Companies Act 2006.
- (c) The directors acknowledge their responsibility for:
- i. ensuring the company keeps accounting records which comply with Section 386; and
- ii. Preparing accounts which give a true and fair view of the state of affairs of the company at the end of the financial year, and of its profit and loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so as far is applicable to the company.
- (d) That the account has been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime.
Approved by the Directors on 15[th] of May 2021 and signed on their behalf by:
## **Mr Felix Adesola**
**Director**
Page 9
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
NOTES TO THE ACCOUNTS THE PERIOD ENDED 30 APRIL 2021
## 1. ACCOUNTING POLICIES
## (1.1) Basis of preparation of financial statements
These accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities published in March 2005 and applicable accounting standards. (1.2) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be reasonably quantified with reasonable accuracy.
## (1.3) Resources expended
All expenditures are accounted for on an accrual basis. Management and governance costs are cost incurred in connection with administration and compliance with statutory requirement
|Unrestricted
Funds
**2021**
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
**£**
Planned giving
41,955
Church Revitalisation Trust(CRT)
0
Grants
11,290
53,245
3. Grants payable - individual
**£**
Individual welfare
-
4. Grants payable - institutional
**£**
Charitable giving -UK
13,621
Charitable giving -overseas
-
Total
13,621
List of institutional grants payable
**£**
RCCG WEM
World Evangelism
7,729
RCCG Central Office
COF Support
1,200
Festival of Life
Mission Support
600
African Mission
Mission Support
600
Compassion
Mission Support
1,200
Others
Mission Support
2,292
Total grant payable - institutional
13,621|Unrestricted
Funds
**2021**
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
**£**
Planned giving
41,955
Church Revitalisation Trust(CRT)
0
Grants
11,290
53,245
3. Grants payable - individual
**£**
Individual welfare
-
4. Grants payable - institutional
**£**
Charitable giving -UK
13,621
Charitable giving -overseas
-
Total
13,621
List of institutional grants payable
**£**
RCCG WEM
World Evangelism
7,729
RCCG Central Office
COF Support
1,200
Festival of Life
Mission Support
600
African Mission
Mission Support
600
Compassion
Mission Support
1,200
Others
Mission Support
2,292
Total grant payable - institutional
13,621|Restricted
Funds
**2021**
**£**
4,269
8,344
0
|Total
Funds
**2021**
**£**
46,224
8,344
11,290|Total
Funds
**2021**
**£**
46,224
8,344
11,290||Total
Funds
**2020**
**£**
51,217
-
8,101|Total
Funds
**2020**
**£**
51,217
-
8,101|Total
Funds
**2020**
**£**
51,217
-
8,101|
|---|---|---|---|---|---|---|---|---|
||53,245|12,613|65,858|||59,318|||
||**£**
-|**£**
-||**£**
-||||**£**
-|
||||||||||
||**£**
13,621
-
13,621|**£**
-
-|**£**
13,621
-
13,621|||**£**
12,619
-
12,619|||
|||
-
|||||||
||||||||||
||**£**
7,729
1,200
600
600
1,200
2,292
13,621|**£**
-
-
-
-
-|**£**
7,729
1,200
600
600
1,200
2,292
13,621||
|
|**£**
8,399
1,200
600
600
1,200
620
12,619||
|||
-|||||||
Page 10
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
NOTES TO THE ACCOUNTS THE PERIOD ENDED 30 APRIL 2021
|Unrestricted
Funds
**2021**
5. COST OF ACTIVITIES IN FURTHERANCE OF CHARIT
**£**
Worship cost
-
Hall hire, rent & rates
0
Printing, books & tracts
332
Visiting Ministers expenses
775
Training & developments
342
Conference
0
Community projects
-
Music & Social Events
904
Mission & evangelism
0
Repair & maintenance
0
Copyright License
-
Retreat
-
Travel & subsistence
0
Administration expenses
1,405
Welfare
13,670
Depreciation
0
17,428
6. MANAGEMENT AND GOVERNANCE COSTS
Unrestricted
Funds
Professional fee - legal
**£**
-
Accountancy fees
1,329
Examiner’s fees - accountancy
300
1,629
**7. **CASH BALANCES
Total uncommitted balances held in all current accounts at|Unrestricted
Funds
**2021**
5. COST OF ACTIVITIES IN FURTHERANCE OF CHARIT
**£**
Worship cost
-
Hall hire, rent & rates
0
Printing, books & tracts
332
Visiting Ministers expenses
775
Training & developments
342
Conference
0
Community projects
-
Music & Social Events
904
Mission & evangelism
0
Repair & maintenance
0
Copyright License
-
Retreat
-
Travel & subsistence
0
Administration expenses
1,405
Welfare
13,670
Depreciation
0
17,428
6. MANAGEMENT AND GOVERNANCE COSTS
Unrestricted
Funds
Professional fee - legal
**£**
-
Accountancy fees
1,329
Examiner’s fees - accountancy
300
1,629
**7. **CASH BALANCES
Total uncommitted balances held in all current accounts at|Restricted
Funds
**2021**
**£**
-
-
-
-
-
-
-
-
-
-
-
3,818
-
-
-|Total
Funds
**2021**
**£**
-
0
332
775
342
0
-
904
0
0
-
3,818
0
1,405
13,670
0|Total
Funds
**2020**
**£**
-
9,904
568
3,111
2,465
0
-
4051
0
45
-
10,309
0
3,231
11,048
0
44,732
Year ended
30-Apr
2020
**£**
0
1,010
300
1,310
Year ended
30-Apr
2020
**£**
54,033
54,033|
|---|---|---|---|---|
||17,428
Unrestricted
Funds
**£**
-
1,329
300|
3,818|21,246||
|||
Restricted
Funds
**£**
-
-
-|Year ended
30-Apr
2021
**£**
0
1,329
300||
|||-|1,629||
|||period end|Year ended
30-Apr
2021
**£**
83,395||
||||
83,395|
|
Page 11
## **THE REDEEMED CHRISTIAN CHURCH OF GOD**
## **COVENANT SANCTUARY**
NOTES TO THE ACCOUNTS THE PERIOD ENDED 30 APRIL 2021
|8. TANGIBLE FIXED ASSETS
Musical
equipment
Computers
& projectors
Total
30-Apr
2021
**Cost**
£
£
£
At 1 May 2020
1,378
491
1,869
Additions
-
-
-
At 30 April 2021
1,378
491
1,869
**Depreciation**
At 1 May 2020
1,378
491
1,869
Charge
0
0
0
At 30 April 2021
1,378
491
1861
**Net book value**
At 30 April 2021
0
0 0
9. CREDITORS
Year ended
30-Apr
2021
Accrued WEM
**£**
-
Accrued accountancy fees
0
0|8. TANGIBLE FIXED ASSETS
Musical
equipment
Computers
& projectors
Total
30-Apr
2021
**Cost**
£
£
£
At 1 May 2020
1,378
491
1,869
Additions
-
-
-
At 30 April 2021
1,378
491
1,869
**Depreciation**
At 1 May 2020
1,378
491
1,869
Charge
0
0
0
At 30 April 2021
1,378
491
1861
**Net book value**
At 30 April 2021
0
0 0
9. CREDITORS
Year ended
30-Apr
2021
Accrued WEM
**£**
-
Accrued accountancy fees
0
0|8. TANGIBLE FIXED ASSETS
Musical
equipment
Computers
& projectors
Total
30-Apr
2021
**Cost**
£
£
£
At 1 May 2020
1,378
491
1,869
Additions
-
-
-
At 30 April 2021
1,378
491
1,869
**Depreciation**
At 1 May 2020
1,378
491
1,869
Charge
0
0
0
At 30 April 2021
1,378
491
1861
**Net book value**
At 30 April 2021
0
0 0
9. CREDITORS
Year ended
30-Apr
2021
Accrued WEM
**£**
-
Accrued accountancy fees
0
0||Total
30-Apr
2020
£
1,869
-
1,869
1,869
0
1,861
0
Year ended
30-Apr
2020
**£**
-
0
0|
|---|---|---|---|---|
|||491
1,869|||
||
|
491
1,869
0
0
491
1861
0 0
Year ended
30-Apr
2021
**£**
-
0
0||
|
||||||
||||||
||||||
||||||
||||||
## 10. RELATED PARTY TRANSACTIONS
During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in note 4.
|11. NET INCOMING RESOURCES/ (RESOURCES EXPENDED)|Year ended|Year ended|
|---|---|---|
|This is stated after charging|30-Apr|30-Apr|
||2021|2020|
||£|£|
|Depreciation of tangible assets owned by the charity|0|0|
|Accountant's fees|0|0|
||||
|12. TRUSTEES RENUMERATION|Year ended|Year ended|
||30-Apr|30-Apr|
||2021|2020|
|During the year, no Director received any remuneration|NIL|NIL|
|During the year, no Director received any benefits in kind|NIL|NIL|
Page 12