2021-12-31-accounts

Registered Charity Number 1153787

THE REDEEMED CHRISTIAN CHURCH OF GOD CORNERSTONE

REPORT AND ACCOUNTS

31 December 2021

THE REDEEMED CHRISTIAN CHURCH OF GOD CORNERSTONE

REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Contents

Page Legal and Administrative Information 2 Trustees’ Report 3 Independent Examiner’s Report 5 Statement of Financial Activities 6 Notes to the Financial Activities 8 (inclusive of detailed Income & Expenditure)

1

THE REDEEMED CHRISTIAN CHURCH OF GOD CORNERSTONE

REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Legal and administrative details:

Trustees: Pastor Samuel Dare Adeleke Mr Hanson Ige Ogbu Dr Olubukola Oluyombo Pastor Olutoyin Taiwo Independent Examiner: Fortune Associates (Accountancy Services) 28 Armada Court London SE8 3EZ Bankers: HSBC The Square Beeston Nottingham NG9 2AN Registered Office: The Redeemed Christian Church of God Cornerstone No 2 Dunnock Drive Stapleford Nottingham NG9 8JQ Charity Number : 1153787

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THE REDEEMED CHRISTIAN CHURCH OF GOD CORNERSTONE

Trustees’ Report

The Trustees present their report and the Financial Statements for the year ended 31 December 2021. The Financial Statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the statement of Recommended Practice (SORP 2005) and applicable law.

Constitution, Objectives and Policies:

The objectives of the Charity as set out in the Trust Deed, dated 10 June 1992 are

• a. Advancement of the Christian Faith in the United Kingdom or abroad.

• b. The relief of persons who are in conditions of need, hardship, or distress or who are aged or sick in the United Kingdom and abroad.

The principal activities of the Charity are worship and the involvement of the various Ministries and Ministers of religion, propagating Christian tenets to both members and nonmembers of the ministry at various meetings.

To achieve these objectives, the trustees appointed the Board of Ministers. The ministry is involved in Christian Outreach Programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.

Public Benefits:

The ministry has various plans and platforms with the aim of increasing Christian awareness and spreading the gospel of our Lord Jesus Christ, she has emerged a beckon of light, hope and family to the community of Nottingham, through targeted and organized programme to meet the need of people to enhance their way of life:

• the provision of sacred spaces, Church rent buildings and worship services, which include meeting on Sunday and Wednesday for in-depth bible study, teaching Christianity through sermons, courses, and small groups.

• the provision of public rituals and ceremonies, which include Easter and Christmas celebration, the events the ministry has used to reach out to the poor, needy and to demonstrate the love of God.

• contributing to the spiritual and moral education of children, teenagers, and adult teen, Souled out youth outreach, providing a youth club with a Christian ethos. We have a vibrant youth engaging the community in different platforms, which include training, mentorship, leadership, relationship, etc.

• contributing towards a better society for example by promoting social cohesion and Social capital: such as Agape Café which reach out to the needy and homeless in our midst and the neighbourhood, organize event like alpha course, food bank, family BBQ, summer event.

• carrying out, as a practical expression of religious beliefs, other activities (such as advancing education or conflict resolution or relieving poverty. Also, partnership with other charity to achieve this aim, amongst many – Hope UK, Compassion and Habitation of Hope).

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• Shekinna Glory Concert: An annual concert, aiming to reach out to nation and different Community groups.

• contributing to followers’ or adherents’ good mental and physical health; aiding the Prevention of ill health, speeding recovery and fostering composure in the face of ill health.

• providing comfort to the bereaved.

• Healthcare and Social Care.

• leadership/mentorship programme, we have involved over the year some professional

• to organize programme and event to empower the youth. Also partner with the Nottingham University and Nottingham Trent University student union to support in different role during welcome programme.

The trustees who served during the year were.

Pastor Olutoyin Taiwo Mr Hanson Ige Ogbu Dr Olubukola Oluyombo Pastor Samuel Dare Adeleke - Secretary

Trustees are appointed by the Board of Trustees.

TRUSTEES’ RESPONSIBILITIES:

Charity Law 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 at the year end and of its incoming resources and resources expended for that year. In preparing those Financial Statements the trustees are required to.

• select suitable accounting policies and apply them consistently.

• make judgement and estimates that are reasonable and prudent.

• prepare the financial statements on the ongoing concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board of trustees on 3 October 2022.

Samuel Adeleke

Samuel Adeleke (Oct 2, 2022 16:59 GMT+1)

Pastor Samuel Adeleke For the Trustees

4

Independent Examiner’s Report

Report to the trustees/members of: The Redeemed Christian Church of God Cornerstone, Beeston On accounts for the year ended: 31 December 2021 Charity No: 1153787

Respective responsibilities of trustees and 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 Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

• It is my responsibility to:

• examine the account under section 145 of the Charities Act,

• to follow the procedures laid down in the general Directions given by the Charity

• Commission (under section 145(5)(b) of the Charities Act; and

• to state whether particular matters have come to my attention.

Basis of independent examiner’s statement:

My examination was carried out in accordance with 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 the 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 statement below.

Independent examiner’s statement:

In connection with my examination, no matter has come to my attention:

• 1) which give me reasonable cause to believe that in, any material respect, the requirement:

• to keep accounting records in accordance with section 130 of the Charities Act.

• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

• 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Name: Joshua Sokoya Date: 01 October 2022

For and on behalf of FORTUNE ASSOCIATES

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THE REDEEMED CHRISTIAN CHURCH OF GOD

CORNERSTONE BEESTON Statement of Financial Activities For the year ended 31 December 2021

Unrestricted Restricted Total 2021 Total 2020 Notes £ £ £ £ Receipt: Gift Aid Tax Recovery 23,052 - 23,052 13,666 Building Fund - 3,630 3,630 1,543 Donations 735 - 735 4,125 Tithes, Offering & Thanksgiving 88,259 - 88,259 52,546 Other Income 2,287 9,383 11,670 912 Total Income 114,333 13,013 127,346 72,792 Payment: Support Cost of Activities 8.1 24,306 - 24,306 15,605 Management & Administration Costs 8.2 61,538 - 61,538 51,163 Total Expenditure 85,844 - 85,844 66,768 Net Income 28,489 13,013 41,502 8,024 Fund balances brought forward (16,369) 41,500 25,131 17,107 Fund balance carried forward 12,120 54,513 66,633 25,131

The notes on pages 8 to 10 form parts of these accounts.

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THE REDEEMED CHRISTIAN CHURCH OF GOD CORNERSTONE

Balance Sheet As at 31 December 2021

Notes 2021 2020 Tangible Assets £ £ Fixed Assets 9.0 4,531 4,357 Current Assets Debtors 10.0 25,464 30,951 Bank Balances 65,338 20,383 90,802 51,334 Current Liabilities Creditors: Amount falling due within one year 11.0 ( 6,200) (2,060) 84,602 49,274 Creditors: Amount falling due after more than one year (22,500) (28,500) Net Current Assets 62,102 20,774 Total Assets 66,633 25,131 £ £ Charity Funds 66,633 25,131

Approved by the Trustees on 2 October 2022 and signed on their behalf by

Samuel Adeleke

Samuel Adeleke (Oct 2, 2022 16:59 GMT+1)

Pastor Samuel Adeleke Secretary to Trustees

The notes on pages 8 to 10 form part of these accounts.

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THE REDEEMED CHRISTIAN CHURCH OF GOD

CORNERSTONE

Notes to the Statement of Financial Activities For the year ended 31 December 2021

Accounting Policies:

1. Accounting Convention:

The Financial Statements have been prepared under the historical cost convention, in accordance with applicable Accounting Standards and also with the recommendations in the Statement of Recommended Accounting Practice (SORP 2005) Accounting and Reporting by Charities – issued in March 2005.

The Charity has taken advantage of the exemption of Financial Reporting Standard No 1 From the requirements to produce Cash Flow Statement on the ground that it qualifies as A small charity.

2. Fund Accounting:

Unrestricted funds represent unrestricted income which is expendable at the discretion of the Trustees in the furtherance of the objects of the charity while restricted income is expendable on specific purpose.

3. Tangible Assets

Fixed assets costing more than £500 are capitalised and included at cost including any incidental cost.

Depreciation is calculated on the fixed assets to write off the cost of the assets less their residual values, in equal instalments over their expected useful economic lives. The annual rate in use is 25%.

4. Incoming Resources:

Income is mainly from tithes and offering, building funds donations, gift aid tax recovery, grants and interest received are included in the financial statements when received.

5. Resources Expended:

All expenditure is accounted for on an actual basis and has been classified under headings that aggregate all costs related to the category.

6. Taxation:

As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.

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THE REDEEMED CHRISTIAN CHURCH OF GOD

CORNERSTONE

Notes to the Financial Activities for the year ended 31 December 2021 (continued)

Notes Unrestricted Restricted Total 2021 Total 2020 Receipt: 7.0 £ £ £ £ Gift Aid Tax Recovery 23,052 - 23,052 13,666 Building Fund - 3,630 3,630 1,643 Donations 735 - 735 4,125 Tithes, Offering & Thanksgiving 88,259 - 88,259 52,546 Other Income 2,287 9,383 11,670 912 Total Income 114,333 13,013 127,346 72,792 Payment: Support Cost of Activities 8.1 Donations and Gifts 1,176 - 1,176 691 Honorarium & Volunteer 3,100 - 3,100 1,100 Central Office & Wem 3,000 - 3,000 3,000 Evangelical/Outreach Materials 75 - 75 1,040 Pastor’s Welfare 7,200 - 7,200 6,600 Church Expenses 8,068 - 8,068 2,733 Members Welfare & Training 1,687 - 1,687 441 t otal Expenditure 24,306 - 24,306 15,605

THE REDEEMED CHRISTIAN CHURCH OF GOD CORNERSTONE BEESTON

Notes to the Financial Activities for the year ended 31 December 2021 (continued)

Management & Administration Notes	Unrestricted Restricted Total 2021 Total 2020
Costs:8.2	£ £ £ £
Rent & Rates	22,946 - 22,946 16,620
Insurance	5,583 - 5,583 4,338
Telephone	2,128 - 2,128 2,780
Motor Expenses	4,478 - 4,478 4,323
Accountancy Fees	1,200 - 1,200 1,200
Depreciation	2,697 - 2,697 5,945
Bank Charges	- - - -
Interest Expense	677 - 677 1,979
Light & Gas	2,367 - 2,367 996
Other Expenses	4,308 - 4,308 -
Church Admin	15,154-15,154 12,982
	61,538-61,53851,164
Tangible Assets9.0
Fixed Assets	Motor Musical Fixtures/ Total
	Vehicles Equipment Fittings
	£ £ £ £
Cost 01.01.2021	7,250 10,169 6,497 23,916
Addition	- 2,871 - 2,871
Cost 31.12.2021	7,250 13,040 6,497 26,787
Depreciation 01.01.2021	7,1088,750 3,701 19,559
Charge for the year	-1,073 1,624 2,697
Depreciation 31.12.2021	7,108 9,823 5,325 22,256
Written Down Value 31.12.2021	142 3,217 1,172 4,531
Written Down Value 31.12.2020	142 1,419 2,796 4,357
10.0 Debtors:
	£
Loan to Church members25,464
11.0 Creditors:	£
Bounce Back Loan	28,500
Other Creditors	200
	28,700

2022-10-02

Report & Accounts 2021 RCCG

Final Audit Report

Created: 2022-10-02 By: Joshua Sokoya ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAAt46FJ3Z9_kfZdAjQZ-u5oz3YBcuWyZ5K

"Report & Accounts 2021 RCCG" History

Document created by Joshua Sokoya ([e-mail])

2022-10-02 - 2:39:22 PM GMT- IP address: 92.11.85.32

Document emailed to [e-mail] for signature

2022-10-02 - 2:45:33 PM GMT

Email viewed by [e-mail]

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Signer [e-mail] entered name at signing as Samuel Adeleke 2022-10-02 - 3:59:36 PM GMT- IP address: 82.11.16.68

Document e-signed by Samuel Adeleke ([e-mail])

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Agreement completed.

2022-10-02 - 3:59:38 PM GMT