THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND Charlty reg. no 1153283 TRUSTEES, REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2024 Page I
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND CONTENTS Reference and administrative details of the tharity Trustees, report Independent examiner's report Statement of financial activities 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 CHARITY, ITS TRusfEES AND ADVISERS FOR THE PERIOD ENDING 31 DECEMBER 2024 Trustees Pastor l Oduyemi Mr F Adesola Mrs G Mabel Brown Charity registration number 1153283 Prinapal 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 Bankers HSBC 38 High Street Dartford Kent DAI IDG Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND TRUSTEES. REPORT FOR PERIOD ENDED 31 DECEMBER 2024 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 2024. 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 Ststement of Recommended Practice (SORP) "Accountlng and Rep)rting by Charities" issued in March 2005. STATUS The charity was constituted under a Trust deed dated 1°, January 2012 and is registered in England and Wales on the 7thof August 2012 with charity number 1153283. APPOINTMENT OR ELEcfIoN OF TRUSTEES Trustees are elected and or co-optsd under the terms of the trust deed. POUCIES ADOPTED FOR THE INDuION AND TRAINING OF NEW TRUSTEE'S The induction process for a newly appointed Trustee comprises an initial meeting with the Chair 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 whlch the charlty Is exposed, In particular those related to operations and finances of the charity and are satisfied the systems are in place to mitigate our exposures to the major risks. OBJE5 AND ACTivrrIES 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 TRUSTEES, REPORT (Continued) FOR PERIOD ENDED 31 DECEMBER 2024 The attivities for achieving its objectives include.. Community outreach events Conferences and events Welfare support to Membe 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 glven 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 advancement of Christian faith and relief of povety. The church gives occasional grants to congregational members who a in nd. VOLUNTEERS The church is grateful for the unstinting efforts of its volunteers who were Involved in providing services for the charity. It is estimated that over 2400 hours were provided by volunteers during the year. If this is conservatively valued at £8.50 per hour, the volunteerfs effort will amount to over £20,400. REVIEW OF AcrivrrIES 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 supported was involved in several charitable works for public benefit in its community. INVESTMENT POLICY The Trustees have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts. RESERVES POLICY The Trustees, policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expenditure. They feel that this would enable the current 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 of £15,000 is inadequate, but the Trustees are continuing to seek additional unrestritted funds to build up its reserve. PRINCIPAL FUNDING Funding has b*n 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 impatt in society. Page 5
THE REDEEMED CPIRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND TRUSTEES, REPORT (Continued) FOR PERIOD ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The charity trustees are responsible for preparing the Trustees. Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), The law applicable to charities in England and Wales requires 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 consistentlyi Observe the methods and principles in the Charities SORP. 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 recognlse their responslbilities to keep proper accounti ng 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 Trustees on June 2025 and signed on their behalf by.. I Oduy Trustee Mr. F Adesola Trustee Page 6
THE REDEEMED CHRISTIAN CHURCH OF GOD WINNERS WAY GRAVESEND INDEPENDENT EXAMINER'S REPORT FOR PERIOD ENDED 31 DECEMBER 2024 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 2024 which is set out on pages 8 to 13. RESPEcfIvE RESPONSIBILrnES 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 responsibillty to: examine the accounts under settion 145 of Charitie5 Art 2011; follow the procedures laid down in the General Direttions 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 provlde all the evidence that would be requlred 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 gives me reasonable cause to believe that in any materlal respect the trustees have not met the requirements to ensure that.. proper accounting records are kept (in accordance wlth sectlon 41 of the Act). and accounts are prepared which agree with the accounting records and comply with the accounting requirements of Att; or (2) to which, in my opinion, attention should te 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: a? June 2025 Page 7
THE REDEEMED CHRtSTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND INCOME AND EXPENDITURE FOR YEAR ENDED 31 DECEMBER 2024 Unrastritted RestrlttQt1 Total Total Funds Funds Fufids Funds 2024 2024 2024 2023 Notes INCOMING RESOURCES Donations, legacies & similar incoming restsurces Total Incomlng resources 55,909 55,909 55,909 55,909 67,370 67,370 RESOURCES EXPENDED Charitable expenditu Grants payable - Indlvldual Grants payable - Inslltutlonal Costs of activities in furtherance of charities objects Management and governance costs Total resources expended 1,000 5,350 4,251 4,251 45,789 750 50,790 45,789 750 50,790 53,034 1,400 60,784 Net (outgolng)lincomlng resources for year 5,119 5,119 6,586 Total funds at the start of the year 16,336 16,336 9,750 BALANCE AT END OF YEAR 21,455 21,455 16,336 Movements In reserves and all recognised and 1055es are shown above The charlty's Itbcomlng resources and resources expended all relate ro contlnulng actlvltes. Page 8
THE REDEEMED CHRisfiAN CHiJRCH OF GOD - WINNERS WAY GRAVESEND BAL4NCE SHEFfAS AT YEAR ENDED 31 DECEMBER 2024 Notes 2024 2023 FIXED ASSETS Tangible Fixed assets 3,150 2,289 CURRENT ASSErs Debtors & prepèyment Cash and bank balances 2,750 23,180 25,930 22,863 22,863 LIABILITtES Creditors Trade creditor's due within 12 months Accrual.. accountancy fees io 3,808 750 4,558 11,183 700 11,883 NEf ASSErs 21,455 16,336 CHARrrY FUNDS General unrestricted General restricted TOTAL FUNDS Id le 21,455 16,336 21,455 16,336 The accounts have been prepared In accordance wtth the special provlsloD of Staternent of Recommended PractSce'. A¢¢¢>vrtting and Reportlng by Ch•TltièS ISOtiPl Issued March 2005 as mlfied for smaller charibes Approved by the Trustees on June 2025 and signed on their behalf by: Pastor l Oduyemi Trustee Page 9
THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS I. ACCOUNTING POLICIES (a) The accounts a prepa under tme historical cost convention and in accordance th applieable accounting standards. They follow best prattice as set out in the Staternent of Recommended Practice.. Accounting and Reporting by Charities ISORP) issued March 2005 as modifled for Smaller ch£rlties. (b) Inconp and expenditure is accounted for on an accruals basis. {c) fixed assets comprlse fvmiture and eoulpment anol muslcal UIpmentS and have l)een costlng rnore than £IOD. Tangible fixed assets are stated at cost less depreciatlon. Depreciatlon 15 pmvlded at rates calculated to wrlte off the cost of fixed assets, le55 thelr e5Umated re51dual value, over thelr exFerted useful Ilves on the followlno bases: Musical equipmènts 25% reducing balance Fumitures and fittings 25% reducing balaKe Comwter equipménts 25% reducing balènee Motr)r Vehicles 25% reducing balancè Idl Unrestricted funds are incoming resource5 received for the objects of the charity without further speofied purFose and are available a5 general funds. le) Restricted funds are subject to restrictions on their expenditure Fmposed by their donors. unreSttted Restrlcted Totsl Total Funds Funds Funds Fund5 2024 2024 2024 2023 2. DoNAnoNS, LE(UCIES AND SIMILAR INCOMING RESOURCES Collettlon at all servlces Glft Ald Clalms 55,909 55,909 56,763 10,607 67,370 55,909 55,909 unrestrttted Restritt8 Total Total 3. Grants payable - individual Funds Funds Funds Funds 2024 2024 2024 3023 Individual welfare 1,000 Page 10
THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS UnrestrS¢tèd Restritted Totsi Total 4. Grants payable - Institutlonal Funds Funds Funds Funds 2024 2024 2024 2023 Charitable glvlng -UK Total 4,251 4,251 4,251 4,251 5,350 5,350 List of Instltutlonal grants payable RCCG WEM World Evangellsm RCCG Central Office Central Office Support RCCG Camp Ground Mlsslon Support Other Donations Mission Support Total grant payable - Institutional 2,200 550 2,200 550 2,400 600 2,000 350 5,350 1,501 4,251 1,501 4,251 5. COST OF A1VITIEs IN FURTHERANCE OF CHARrrf's OBJEcrs Visiting speakers expenses 1,350 Seminar, conferences and subscriptions 960 Travel and subsistence 954 Hall hire, rent & rates 17,500 Mission and evangelism 1,042 Community projects 4,431 Mission training 480 Welfare & hospitality 1,099 Repair, maintenance & buildlng Insurance 708 M¥Jsic & Ilturgy Telephone & Internet Insurance Depreciation Utllities Pastor's allowance Sundry expenses 1,350 960 954 17,500 1,042 4,431 480 1,550 1,344 927 20,625 250 6,432 440 1,099 708 3,500 2,584 562 337 762 3,510 5,094 3,000 2,116 53,034 325 728 3,339 2,872 9,000 I,ooi 45,789 325 728 3,339 2,872 9,000 I,ooi 45,789 6. MANAGEMENT AND GOVERNANCE COSTS Professional fees Examiner's fees - accountancy 700 700 1,400 750 750 750 750 Page 11
THE REDEEMED CHRIgfIAN CHURCH OF GOD- WINNERS WAY GPAVESEND NOTES TO THE AccouNrs 7. TANGIBLE FIXED ASSEFS Musical Computers Furnitu & equlpments & profjectors Fittings Total 31-Dec 2024 Cost At l January 2024 Additions At 31 December 2024 4,171 4,200 8,371 2,940 19,759 26,870 4,200 31,070 2,940 19,759 Depreciation At l January 2024 Charge for the year At 31 December 2024 4,171 1,050 5,221 2,315 625 2,940 18,095 1,664 19,759 24,581 3,339 27,920 Net book value At 31 December 2024 3,150 3,150 At 31 December 2023 625 1,664 2,289 Year ended Year ended 31-Dec 31-Dec 2024 2023 8. Debtors & Prepayment Hall lease prepald 2,750 2,750 Year ended 31-Dec 2024 Year ended 31-Dec 2023 9. CASH BALANCES Bank and cash in hand 22,863 22,863 23,180 23,180 10. CREDITORS Year ended Year ended 31-Dec 31-Dec 2024 2023 Trade creditovs due within 12 months Accrual.. accountancy fees 3,808 750 4,558 11,183 700 11,883 Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS WAY GRAVESEND NOTES TO THE ACCOUNTS 11. RELATED PARTY TRANSAcfioNS During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in note 7. 12. STAFF COST AND NUMBERS staff costs were as follows Year ended Year ended 31-Dec 31-Dec 2024 2023 Pastoral allowance Social security costs 9,000 3,000 9,000 3,000 Year ended Year ended 31-Dec 31-Dec 2024 2023 No. No. The average number of employee during the year was as follows Pastoral Charlty admlnistration Total No employee received remuneratlon amountlng to more than £50,000 In the year. 13. NET INCOMING RESOURCES/(RESOURCES EXPENDED) Year ended Year ended 31-Dec 31-Dec 2024 2023 This is stated after charging Depreclatlon of tanglble assets owned by the charlty Accountant's fees 4,703 750 4,703 700 Page 13