THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WORD
Charity reg. no: 1153113
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WORD
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| CONTENTS | PAGE |
|---|---|
| Reference and administrative details | 2. |
| Trustees report | 3 - 6 |
| Independent Examiner's report | 7. |
| Statement of Financial Activities | 8. |
| Balance sheet | 9. |
| Notes to the accounts | 10 - 12 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees Mrs Adebisi Ogidan Dr Adedayo Adetoye Mr Olusegun Egungbohun Charity registered number 1153113 Principal Office 17 Fawley Close Maidenhead Berkshire SL6 7UP Parish Pastor Pastor Rotimi Ogidan Independent Examiner Akintayo Ojo FCCA Resource Management Consultants Ltd 46 Hollywood Way Erith DA8 2QE Bankers HSBC 26 Broad Street Reading Berkshire RG1 2BU
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
TRUSTEES' REPORT FOR YEAR ENDING 31 DECEMBER 2020
The trustees submit their report and financial statement for The Redeemed Christian Church of God - Living Word (The Charity) for the year ended 31 December 2020. The trustees confirm that the trustees' report and financial statements of the charity comply with current statutory requirements of the charity's governing document and the provisions of Charities Act 2011.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Redeemed Christian Church of God - Living Word a registered charity. It is registered with the Charity Commission as a charity in England and Wales and the registration number is 1153113.
APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are appointed and or co-opted under the terms of the trust deed.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES
The induction process for a newly appointed trustees comprises of an initial meeting with the the chair and other trustees, followed by short meetings with the parish pastor on the powers and responsibilities of the trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity is organised so that the trustees meet regularly to mange its affairs. The parish pastor manages the day to day administration of the church.
RELATED PARTY TRANSACTION
RCCG Living Word 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 trustees 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,
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
TRUSTEES' REPORT FOR YEAR ENDING 31 DECEMBER 2020
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:
-
Hosting food banks for the less privileged in our community and giving out food stuffs in the local market monthly.
-
Holding outreaches in areas of interest to our community, such as the care homes. In the year we held seminars for married men and women on building homes that will impact the community positively. We held Sunday services and mid week bible studies amongst others.
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 outbreak of the Corona Virus Pandemic worldwide during the year and the government's effort to curtail the spread meant public meetings have to be restricted with public places put on lockdown. This impacted the activities of the charity as meetings were to be transferred to virtual platforms. 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 within the policy range but the trustees are continuing to seek additional funds for the reserves.
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
TRUSTEES' REPORT FOR YEAR ENDING 31 DECEMBER 2020
IMPACT OF COVID-19 PANDEMIC
The outbreak of COVID-19 Pandemic in the first quarter of the year under review resulted in the government introducing various measures, including lockdowns in order to curtail its spread. This action significantly impacted the activities of the church organisation and charity to the extent that Sunday worship services, midweek bible study, regular prayer meetings, workshops and seminars were all moved to holding virtually, using ZOOM video channel.
PRINCIPAL FUNDING
Funding has been provided mainly through tithes and offerings by church members and through donations.
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.
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
TRUSTEES' REPORT FOR YEAR ENDED 31 DECEMBER 2020
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees 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 trustees 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 trustees 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 Charities Act 2011. 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 trustees on 31 July 2021 and signed on their behalf by:
Mrs Adebisi Ogidan Trustee
Dr Adedayo Adetoye Trustee
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 DECEMBER 2020
TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WORD
I report on the accounts of the charity for the year ended 31 December 2020 which is set on pages 8 - 12
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER
The charity trustees are responsible for the preparation of the accounts. The Charity's trustees consider than an audit is not required for the period under section 142(2) of the Charities Act 2011 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 not kept in accordance with the Charities Act; and - accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Charities Act 2011; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Akintayo Ojo FCCA 31 August 2021 46 Hollywood Way, Erith. DA8 2QE
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020
| Unrestricted Funds Notes 2020 Incoming resources £ Donations & incoming resources 32,848 Gift aid claim - Total incoming resources 32,848 Resources expended Grants payable - individuals - Grants payable - institutional 8,440 Cost of activities in furtherance of charity's objects 4,246 Management and governance cost 550 Total resources expended 13,236 Net(outgoing)/incoming resources for the year 19,612 Total funds at the start of the year 37,182 Balance at the end of the year 56,794 |
Unrestricted Funds Notes 2020 Incoming resources £ Donations & incoming resources 32,848 Gift aid claim - Total incoming resources 32,848 Resources expended Grants payable - individuals - Grants payable - institutional 8,440 Cost of activities in furtherance of charity's objects 4,246 Management and governance cost 550 Total resources expended 13,236 Net(outgoing)/incoming resources for the year 19,612 Total funds at the start of the year 37,182 Balance at the end of the year 56,794 |
Restricted Funds 2020 £ - - |
Total Funds 2020 £ 32,848 - |
Unrestricted Funds 2019 £ 29,282 15,608 |
|---|---|---|---|---|
| 32,848 | - | 32,848 | 44,890 | |
| - 8,440 4,246 550 |
- - - - |
- 8,440 4,246 550 |
- 8,392 9,717 1,250 |
|
| 13,236 | - | 13,236 | 19,358 | |
| 19,612 37,182 |
- - |
19,612 37,182 |
25,532 11,650 |
|
| 56,794 | - | 56,794 | 37,182 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
BALANCE SHEET AS AT 31 DECEMBER 2020
| Notes Fixed Assets Tangible fixed assets Current assets Cash at bank and in hand 7 Debtors 8 Less: Current Liabilities: Creditors: Amount falling due within 9 One year Net assets Financed BY: Charity funds General - restricted General - unrestricted |
Total Funds 2020 £ 1,867 55,077 400 55,477 550 56,794 - 56,794 56,794 |
Total Funds 2019 £ 978 |
|---|---|---|
| 31,804 5,000 |
||
| 36,804 600 |
||
| 37,182 - 37,182 |
||
| 37,182 |
The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities
Approved by the Trustees on 31 July 2021 and signed on their behalf by:
Mrs Adebisi Ogidan Trustee
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2020
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 2020 2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCE £ Collection and other donations 32,848 Gift aid recovered - 32,848 3. Grants payable - individuals £ From Donors - 4. Grants payable - institutional £ Charitable giving -UK 8,440 Charitable giving -overseas - Total 8,440 List of Charitable giving - UK £ RCCG WEM World Evangelism 6,500 RCCG Central Office COF Support 600 Festival of Life Charity Support 240 African Mission Charity Support - Other Charity Support 1,100 Total grant payable - institutional 8,440 |
Unrestricted Funds 2020 2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCE £ Collection and other donations 32,848 Gift aid recovered - 32,848 3. Grants payable - individuals £ From Donors - 4. Grants payable - institutional £ Charitable giving -UK 8,440 Charitable giving -overseas - Total 8,440 List of Charitable giving - UK £ RCCG WEM World Evangelism 6,500 RCCG Central Office COF Support 600 Festival of Life Charity Support 240 African Mission Charity Support - Other Charity Support 1,100 Total grant payable - institutional 8,440 |
Restricted Funds 2020 £ - - |
Total Total Funds Funds 2020 2019 £ £ 32,848 29,282 - 15,608 |
|---|---|---|---|
| 32,848 | - | 32,848 44,890 |
|
| £ - |
£ - |
£ £ - - |
|
| £ 8,440 - |
£ - - |
£ £ 8,440 8,392 - - |
|
| 8,440 | - | 8,440 8,392 |
|
| £ 6,500 600 240 - 1,100 |
£ - - - - - |
£ £ 6,500 6,162 600 600 240 240 - 350 1,100 1,040 |
|
| 8,440 | - | 8,440 8,392 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2020
| Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2020 2020 2020 2019 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Hall hire, rent & rates 2,066 - 2,066 4,039 Printing, stationery & IT Consumables - - - 194 Welfare & hospitality - - - 300 Conference & training - - - 820 Community projects 999 - 999 3,046 Music & liturgy - - - - Mission & evangelism - - - 850 Office & telephone expenses 85 - 85 - Subscription 365 - 365 50 Depreciation 731 - 731 418 Youth work - - - - 4,246 - 4,246 9,717 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2020 2019 £ £ £ £ Professional fees - - - 650 Examiner's fees - accountancy 550 - 550 600 550 - 550 1,250 7. CASH BALANCES Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ Bank balance 55,077 31,804 55,077 31,804 8. DEBTORS Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ Loan to charity 400 5,000 400 5,000 |
Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2020 2020 2020 2019 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Hall hire, rent & rates 2,066 - 2,066 4,039 Printing, stationery & IT Consumables - - - 194 Welfare & hospitality - - - 300 Conference & training - - - 820 Community projects 999 - 999 3,046 Music & liturgy - - - - Mission & evangelism - - - 850 Office & telephone expenses 85 - 85 - Subscription 365 - 365 50 Depreciation 731 - 731 418 Youth work - - - - 4,246 - 4,246 9,717 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2020 2019 £ £ £ £ Professional fees - - - 650 Examiner's fees - accountancy 550 - 550 600 550 - 550 1,250 7. CASH BALANCES Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ Bank balance 55,077 31,804 55,077 31,804 8. DEBTORS Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ Loan to charity 400 5,000 400 5,000 |
Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2020 2020 2020 2019 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Hall hire, rent & rates 2,066 - 2,066 4,039 Printing, stationery & IT Consumables - - - 194 Welfare & hospitality - - - 300 Conference & training - - - 820 Community projects 999 - 999 3,046 Music & liturgy - - - - Mission & evangelism - - - 850 Office & telephone expenses 85 - 85 - Subscription 365 - 365 50 Depreciation 731 - 731 418 Youth work - - - - 4,246 - 4,246 9,717 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2020 2019 £ £ £ £ Professional fees - - - 650 Examiner's fees - accountancy 550 - 550 600 550 - 550 1,250 7. CASH BALANCES Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ Bank balance 55,077 31,804 55,077 31,804 8. DEBTORS Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ Loan to charity 400 5,000 400 5,000 |
|---|---|---|
| - | 4,246 9,717 |
|
| Year ended Year ended Restricted 31-Dec 31-Dec Funds 2020 2019 £ £ £ - - 650 - 550 600 |
||
| - | 550 1,250 |
|
| Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ 55,077 31,804 55,077 31,804 Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ 400 5,000 400 5,000 |
||
| 400 5,000 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD
LIVING WORD
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2020
9. CREDITORS
| 9. CREDITORS Accrued accountancy fees |
Year ended Year ended 31-Dec 31-Dec 2020 2019 £ £ 550 600 |
|---|---|
| 550 600 |
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 | 31-Dec | 31-Dec |
| 2020 | 2019 | |
| £ | £ | |
| Accountant's fees | 550 | 600 |
| 12. TRUSTEES RENUMERATION | Year ended | Year ended |
| 31-Dec | 31-Dec | |
| 2020 | 2019 | |
| During the year, no trustee received any remuneration | NIL | NIL |
| During the year, no trustee received any benefits in kind | NIL | NIL |
| 13. TANGIBLE FIXED ASSETS | Musical | Total |
| equipment | 31-Dec | |
| 2020 | ||
| Cost | £ | £ |
| At 1 January 2020 | 1,396 | 1,396 |
| Additions | 1,620 | 1,620 |
| At 31 December 2020 | 3,016 | 3,016 |
| Depreciation | ||
| At 1 January 2020 | 418 | 418 |
| Charge for the year | 731 | 731 |
| At 31 December 2020 | 1,149 | 1,149 |
| Net book value | ||
| At 31 December 2020 | 1,867 | 1,867 |
| At 31 December 2019 | 978 | 978 |
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