THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND Charlty reg. no 1153283 TRUSTEES, REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023 Page I
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND CONTENTS Reference and administrative detalls of the charity Trustees, report Independent examlner's report Statement of financial attivities Balance sheet Notes to the financial statements 10-13 Page 2
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDING 31 DECEMBER 2023 Trustees Pastor I Oduyemi Mr F Adesola Mrs G Mabel Brown Charity registration number 1153283 Prlncipal Office 8 The Nursery Erith Kent DA8 2EZ Pastor in charge Pastor O Solola Independent Examiner Akintayo Ojo FCCA Resource Management Consultants Ltd 46 Hollywood Way Erith DA8 2QE Ba nkers HSBC 38 High Street Dartford Kent DAI IDG Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND TRusfEES' REPORT FOR PERIOD ENDED 31 DECEMBER 2023 The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of God Winners Way Gravesend (the charity) for the year ending 31 December 2023. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity's governing document and the provisions of the Statement of Recommended prattl (SORP) "Accounting and ReFQrting by Charities" issued in March 2005. STATUS The charity was constituted under a Trust deed dated 1st january 2012 and is registered in England and Wales on the 7th of August 2012 with charity number 1153283. APPOIrMENT OR ELECTION OF TRUSTEES Trustees are elected and or co-opted under the terms of the trust deed. POLICIES ADOPTED FOR THE INDucfioN AND TRAINING OF NEW TRUSTEE'S The induction process for a newly appointed Trustee comprises an initial meeting with the Chalr and other Trustees, followed by short meetings with the Pastor in Charge on the powers and responsibilities of the trustees. ORGANISATIONAL sfRucfuRE AND DECISION MAKING The charity is organised so that the trustees meet regularly to manage its affairs. The Pastor in Charge manages the day-to-day administration of the church. RELATED PARTY RELATIONSHIPS RCCG Winners Way Gravesend 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 the systems are in platr to mitigate our exposures to the major risks. OBJEcfs AND AcfIviTIES The principal object is the advancement of Christian faith worldwide and the relief of poverty. To promote any charitsble activity for the benefit of the local people. To achieve its objectives, the church adopted the following strategies.. Running seminars in the church with proven ministers of the faith to guide members in the various aspect of Christian faith, Support for other charities and Christian events, Providing overseas aid and famine relief, and Involving in economic and community development Page 4
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND TRusfEES' REPORT (Continued) FOR PERIOD ENDED 31 DECEMBER 2023 The attivities for achieving its objectives include: Community outreach events Conferences and events Welfare support to membets and general public, and Various missionary activities 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 Lsfe and other RCCG Programmes. The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in n*d. VOLUNTEERS The church is grateful for the unstintlng efforts of its volunteers who were involved in providing services for the charity. It is estimated that over 2000 hours were provided by volunteers during the year. If this is conservatively va5ued at £8.50 per hour, the volunteer's effort will amount to over £17,000. REVIEW OF AcfIvITIES The church continues to enjoy tremendous growth in its physical and spiritual activities during the year, in the advancement of Christian faith in accordance with the doctrines set out in the Statement of Faith as contained in its trust deed. The Charity supwrted was involved in several charitable works for public benefit in its community. INVESTMENT POLICY The Trustees have decided that at present, funds should be taIned in Banks and Building Societies, and as far as possible in interest bearing accounts. RESERVES POLICY The Trustees, policy is to have nstried and uncommitted funds (free reserves) to cover 3 to 6 months of resources expenditure. They feel that this would enable the cUrnt attivities to continue if there is a significant drop in funding. It would obviously be necessary to then consider how the funding would be replaced, or activities changed. The present free reserve is inadequate, but the Trustees are continuing to seek addltlonal UnstrICted funds to build up its reserve. PRINCIPAL FUNDING Funding has been provided mainly through tithes and offerings by church members and through gift aid. Pledges are also taken for specific projects. FUTURE DEVELOPMENT 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 impart in society. Page 5
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND TRUSTEES, REPORT (Continued} FOR PERIOD ENDED 31 DECEMBER 2023 STATEMENT OF TRUSTEES, RE5PONSIBILrriES The charity trustees are responsible for preparing the Trustees, Annual Report and financial statements in accordarice with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales require5 the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently- Observe the methods and principles in the Charsties SORP. Make judgement and estimates that are reasonable and prudent; Prepare the financial statements on the going concern basi5 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 reasonable 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 rustees on 13 June 2024 an ned on the alf by: Pastor I Oduyemi Trustee Mr. F Adesola Trustee Faqe 6
THE REDEEMED CHRISTEAN CHURCH OF GOD WINNERS WAY GRAVESEND INDEPENDENT EXAMINER'S REPORT FOR PERIOD ENDED 31 DECEMBER 2023 TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND. I report on the accounts of the charity for the year ended 31 December 2023 which is set out on pages 8 to 13. RESPEcfIvE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under settion 142(2) of the Charities Act 2011 and that an independent examination is needed. It Is my responsibility to: examine the accounts under settion 145 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 EXAMINER'S STATEMENT 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 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 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: (l) which glves 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 section 41 of the Act). and accounts are prepared whlch agree with the accounting records and comply with the accounting requirements of Att; 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 46 Hollywood Way Erith Kent DA8 2QE Date: June 2024 Page 7
THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND INCOME AND EXPENDITURE FOR YEAR ENDED 31 DECEMBEA 2023 Unrestricred Res¢rfrted Totsl Totsl Fursds Funds Funds Funds 2023 2023 2023 2022 Notes INCOMING RESOURCES Donatlons, legacies & simllar Incoming resources Total incoming resour5 67,370 67,370 67,370 67,370 38,809 38,809 RESOURCES EXPENDED Charitable expenditure Grants payable - Indivldual Grants payable - institutional Costs of activities in furtherance of 1,000 5,350 1,000 5,350 550 3,000 charities objects Management and governance costs Total resources expended 53,034 1,400 60,784 53,034 1,400 60,784 33,202 1,775 38,527 Net (outgoing)/lncoming resour$ for year 6,586 6,586 283 Total ftjnds at the start of the year 9,750 9,750 9,467 BALANCE AT END OF YEAR 16,336 16,336 9,750 Movements In reseNes and all recognised and losses are shown above The charlty's Incoming resources and resources expended all relate to contlnuing actlvltes. Page 8
THE REDEEMED CHRISTIAN CHURCH OF GOD- WINNERS WAY GRAVESEND BALANCE SNEE[ AS AT YEAR ENDED 31 DECEMBER 2023 Notes 2023 2022 FIXED ASSErs Tangible Fixed assets 2,289 6,993 CURRENT ASSETS Debtors & prepayment Cash and bank balances 2,750 23,180 25,930 13,840 13,840 LIABILITIES Creditors Trade creditor's due within 12 months Accrual.. accountancy fees io 11,183 700 11,883 10,433 650 11,083 NEf ASSETS 16,336 9,?50 CHARFry FUNDS General unrestricted General restricted TOTAL FUNDS Id le 16,336 9,750 16,336 9,750 The acUnts have been prepared in accordance with the special provision of Ststement of RÈcommendÈd Pract7.. Accounting and Reporting by Charities ISOLPI issued M3r¢h 2005 a$ modified for smallér chariti•s Approved by the Trustees onl4 June 2024 and signed on their behalf by.. Pastor l Oduyemi Trustee Page 9
THE REDEEMED CHRIsfiAN CHURCH OF GOD- WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS I. ACCOUNTING POLICIES (a) The accounts are preparecj under the hittorical c05t conventlon and In accordance with applicae accounting standards. They follow bèst prattice a5 set out In the Statement of Rècommended Prattlce.. Accounfjng and lieporting by Charitie5 {SORPI issued March 2005 as mo(Sified for smaller charities. (b) Income and expenditure 15 accounted for on an accruals basis. (c) Fixed asséts comprf5e fUmItu and equipn*nt and mLsical equiwients and have been costing more than £ICK). Tanglble fixed assets are stated at cost less depredation. Depreciation is provid èt rates calculated to write off the cost of fixed assets, less thelr estIMat ro&dual value, ovèr their expected useful lives on the following bases.. Musical equipments 25% reducing balance Furnitures and fittings 25% reducing balance Computer equipmènts 25% reducin9 balance Motor Vehicles 25% reducing balance {dl Unrestricted funds are incoming resource5 receiv& for the objects of the charity without further speclfied purFKse and are available as general fund5. {e) Restritted funds are subjert to restrictions on their expenditure imposed by their donors. Unrestrlcted Restricted Tota Total Funds Funds Funds Funds 2023 2023 2023 2022 2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES Collection at all services Gift Aid Claims 56,763 10,607 67,370 56,763 10,607 67,370 34,791 4,018 38,809 unrestntted Restritte Total Total 3. Grants payable - Individual Funds Fund5 Funds Funds 2023 2023 2023 2022 Indlvldual welfare 1,000 1,000 550 Page 10
THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS Unrestricted Restricted Total Total 4. Grants payable - institutlonal Fund5 Funds Funds Funds 2023 2023 2023 2022 Charitable glvlng -UK Total 5,350 5,350 5,350 5,350 3,000 3,000 List of instltutlonal grants payable RCCG WEM World Evangelism RCCG Central Oflice Central Office Support RCCG Camp Ground Mission Support Other Donations Mission Support Total grant payable - Institutlonal 2,400 600 2,000 350 5,350 2,400 600 2,000 350 5,350 2,400 600 3,000 5. COST OF AcfIviTIES IN FURTHERANCE OF CHARrrf's OBJECTS Vlsitlng speakers expenses 1,550 Seminar, conferences and subscriptions 1,344 Travel and subsistence 927 Hall hlre, rent & rate5 20,625 Mission and evangelism 250 Community projects 6,432 Mlsslon training 440 welfa & hospitality Repair, maintenance & bu ilding Insurance Music & liturgy Telephone & Internet Insu rance Depreciation utilities Pastor's allowance Sundry expenses 1,550 1,344 927 20,625 250 6,432 440 3,500 2,584 562 337 762 3,510 5,094 3,000 2,116 53,034 1,150 173 1,145 16,575 200 1,300 200 3,500 2,584 562 337 762 3,510 5,094 3,000 2,116 53,034 400 165 338 597 4,717 1,524 3,000 1.717 33,202 6. MANAGEMENT AND GOVERNANCE COSTS Professional fees Examiner's fees - accountancy 700 700 1,400 700 700 1,400 1,125 650 1,775 Page 11
THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS 7. TANGIBLE FIXED ASSETS Musical Computers Furnlture & equipments & projectors Fittings Total 31-Dec 2023 Cost At l January 2023 Additions At 31 December 2023 4,171 2,940 19,759 26,870 4,171 2,940 19,759 26,870 Depreciation At l January 2023 Charge for the year At 31 December 2023 3,603 568 4,171 1,690 625 2,315 14,585 3,510 18,095 19,878 4,703 24,581 Net book value At 31 December 2023 625 1,664 2,289 At 31 December 2022 568 1,250 5,175 6,993 Year ended Year ended 31-Dec 31-Dec 2023 2022 8. Debtor5 & Prepayment Hall lease prepaid 2,750 2,750 Year ended Year ended 9. CASH BALANCES 31-Dec 2023 31-Dec 2022 Bank and cash in hand 23,180 23,180 13,840 13,840 10. CREDoRs Year ended Year ended 31-Dec 31-Dec 2023 2022 Trade creditor's due within 12 months Accrual: accountancy fees 11,183 700 10,433 650 11,083 11,883 Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD- WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS 11. RELATED PARTY TRANSACTIONS Durlng the year, the church paid institutional grants to other RCCG organlsations such as the World Evangelism Mission as stated in note 7. 12. STAFF COST AND NUMBERS Staff costs were as follows Year ended Year endecl 31-Dec 31-Dec 2023 2022 Pastoral allowance Social security costs 3,000 3,000 3,000 3,000 Year ended Year ended 31-Dec 31-Dec 2023 2022 No. The average number of employee during the year was as follows No. Pastoral Charity administration Total No employee received remuneratlon amountlng to more than £50,000 in the year. 13. NET INCOMING RESOURCESI(Rf SOURCES EXPENDED) Year ended Year ended 31-Dec 31-Dec 2023 2022 This is stated after charglng Depreciation of tangible assets owned by the charlty Accountant's fees 4,703 700 4,717 650 Page 13