REGISTERED COMPANY NUMBER: 08713517 {England and Wales) REGISTERED CHARITY NUMBER: ort of the Truste8s and Unaudited Financial Statements for the Year Ended 31 March 2024 for The Redeemed Christian Church Of God Testimon Cha el GM Accountancy 472a Bearwood Road Smethwick West Midlands B66 4HA
The Redeemed Christian Church Of God Testimon Cha Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9 to 14 Oetailed Statem8nt of Financial Activities 15
The Redeemed Christian Church Of God Testimon Cha el Re ort of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities pr8paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019). Page 1
The Redeemed Christian Church Of God Testimon Cha Re ort of the Trustees for tha Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Objectives and aims THE REDEEMED CHRISTIAN CHURCH OF GOD, TESTIMONY CHAPEL @ WEST BROMWICH, BIRMINGHAM is one of the over 850 Parishes of this Mission in the United Kingdom, it is an arm of THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) CENTFIAL OFFICE United Kingdom. THE REDEEMED CHRISTIAN CHURCH OF GOD, TESTIMONY CHAPEL @ WEST BROMWICH which was established on 1 Oth June 2 Al Alake had its first place of worship an High Street, West Bromwich_witlpllPm8mb8rs. Pasto Adejinmi Akintola Lawal is the founding Pastor of the Parish and is still the Pastor to date - He serves as the Secretary to th8 Church Trustees. Our Parish is a Registered Charity with Trust88s, and the Parish Pastor is the Secretary to the Church Trustees. Th8 Trustees members are the main decision-making persons for th8 day to day running of this Parish. This Parish has had its ups and downs but to God be the glory for His faithfulness as we are still marching forward despite the challenges. OUR PRIORITIES: 1. We desire to worship God in Spirit and in truth in our private and public worship. The Lord ONLY shall be the object of our worship. We seek to hear from God and also desire the presence of His glory in our gatherings l Kings 8.11,. 1 Chronicles 16.'29; Psalm 96.'6; John 4.'23-24; Revelation 22',9, 2. We desire to live holy and sanctified life such that at any time we are able to hear from God directly and receive His blessings - Psalm 16.'1-2' LevitlGUS 11:45'1 Corinthians 1.'30,' 11 Corinthians 7'.1',1 Thessalonians 4.3,. Hebrews 12,4. 3. We desire to be led all the times by the Spirit of God such that we are able to do only His will Romans 8,'14-18,' 12.,1-2' Ephesians 5.17,, 6.6, 4. We want to teach and 18arn the Word of God in the power and anointing of the Holy Spirit for edification, refreshing, encouragement and comfort - Isaiah 2.'3' Matthew 28.19-20,. Romans 15.4., 1 Timothy 4:13,'11 Timothy 2.2. 5. We want to build a Church of God with our spiritual gifts as the Lord gives opportunity for the advancement of the kingdom of God and the spiritual growth of members - Romans 13,.3-8; 1 Corinthians 3.6-9; 12.7,. Ephesians 4.11-12. 6. We also want to build a Church where blessings and burdens are shared for the glory of God through interpersonal ministry and service that will enhance spiritual and social enrichment of individual members - Colossians 3.16., John 4.36., 13.13-15, 17. Galatians 6'.9-10; Ephesians 4'.29; Hebrews 13.16. We had our pemanent place of worship (on Lease) at 151 Hilltop, Wednesbury Road, B70 OSB. West Bromwich a place we opened by faith, and we have expended resources both human and financial. However, a notice of vacating the place has been served to us by our Landlord The Church of England. They have demanded that we leave by 30th September 2023. Page 2
The Redeemed Christian Church Of God Testimon Cha Re ort of the Trustees for the Year Ended 31 March 2024 Registered office 18 Shapinsay Drive Rubery-Rednal Birmingham B45 OHN Trustees D O Duro-Folarin Nursing Assistant Mrs F C Olaniyi Nursing rs O Owoaje Nursing Company Secretary Pastor A A Lawal Independent Examiner GM Accountancy 472a Bearwood Road Sm8thwick West Midlands B66 4HA Approved by order of the board of trustees on behalf by: and signed on its D O Duro-Folarin - Trustee Page 4
The Redeemed Christian Church Of God Testimon Cha el ort of the Trustees for the Year Ended 31 March 2024 To God be the glory as He adds to us by the day spiritually and numerically. We can conveniently count 120 regular attendees and 180 on thanksgiving Sunday (both old and young). FUTURE PLANS: In conformity of the vision of our General Overseer - Pastor Enoch Adejare Adeboye, we want to have a touch on our community and take every family therein and beyond for Christ in obeisance to God's command that we should go to all parts of the world, preaching the gospel John 16.16. In the li ht of this, this Parish has lanted TWO new Parishes since ince tion. These Parishes are.. (i) RCCG His Dwelling Place planted 13th May 2013 pastored by Pastor Emmanuel Folarin. (li) RCCG The Kingdom Chapel planted 18th December 2016 pastored by Pastor Taiwo Buraimoh. MAJOR PROJECTS: WE HAVE RELOCATED FROM OLD PROPERTY TO A NEW PLACE OF WORSHIP i. We have moved out of our former permanent place of worship to a new property.. ASDEN HOUSE, 1-5 Victoria Street, West Bromwich B70 8ET. ii. W8 moved into the new property on 27th September 2023 where we have secured a Lease of 5 years and had our first Service on Sunday 1 sl October 2023. iii. As usual, we have embarked on s8rious renovation of the new propety to meet the n88ds of a Church, and this has cost us more than £50,000 and its still ongoing. iv. We have constructed brand new Toilets for both male and female and also made loads of internal partitioning to meet for our use. Our Church has been granted Certificate to OP8rate as a Place of Worship by Sandwell Borough Council on 5, March 2024. vi, We are proposing to replac8 our older Trustee members for new ones. Signed., )I,I Pastor Adejinm Parish Pastor Akintola Lawal STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust. and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08713517 (England and Wales) Registered Charity number Page 4
Inde endent Examiner's Re ort to the Trustees of The Redeemed Christian Church Of God Testimon Cha Independent examiner's report to the trustees of The Redeemed Christian Church of God, Testimony Chapel {'the Company,) I report to the Charity trustees on my examination of the accounts of th8 Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not re uired to be audited under an aree or In epen en examina ion, repo In res examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5> (b) of th8 2011 Act. Independent examlner's statement I hav8 completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act: or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland (FRS 102)). I hav8 no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to b8 reached. GODFR ASSA CERTIFIED ACCOUNTANT GM Accountancy 472a Bearwood Road Smethwick West Midlands B66 4HA Date: Page 5
The Redeemed Christian Church Of God Testimon Cha Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted funds fund Notes INCOME AND ENDOWMENTS FROM Donations and18gacies 99,869 99,869 83,984 EXPENDITURE ON Charitsble actlvitles Church Activities 97,214 97,214 52,028 NET INCOME 2,655 2,655 31,956 RECONCILIATION OF FUNDS Total funds brought forward 30,127 9,220 39,347 7,391 TOTAL FUNDS CARRIED FORWARD 32,782 9,220 42,002 39,347 The notes form part of th6s8 financial statements Page 6
The Redeemed Christian Church Of God Testimon Cha Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets 31,492 31,492 31,492 CURRENT ASSETS Debtors as In 5.138 5,138 5,138 an 1,290 9,220 10,510 7,855 NET CURRENT ASSETS 1,290 9.220 10,510 7,855 TOTAL ASSETS LESS CURRENT LIABILITIES 32,782 9,220 42,002 39,347 NET ASSETS 32,782 9,220 42,002 39,347 FUNDS Unrestricted funds Restricted funds 32,782 9.220 30,127 9,220 TOTAL FUNDS 42,002 39.347 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006, The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 7 continued...
The Redeemed Christian Church Of God Testimon Cha Balance Sheet - continued 31 March 2024 These financial statements have been prepared in accordance with th8 provisions applicable to charitable companies subject to the small companies, regime. The finan ial s tements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. F C Olaniyi - Trustee D O Duro-Folarin - Trustee The notes form part of these financial statements Page 8
The Redeemed Christian Church Of God Testimon Cha Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Re ortin ar l Re ortin tandard a licable in the UK and epu Ic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to th8 funds, it is probable that the income will be received, and the amount can be measured reliably. Expenditure Liabilities ar8 recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to tha category. Where costs cannot b8 directly attributed to particular headings, th8y have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordanc8 With the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particularly restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for partiGularly restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 9 continued...
The Redeemed Christian Church Of God Testimon Cha Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expanses There ware no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 75,064 8,920 83,984 EXPENDITURE ON Charltable activltles Church Activities 52,028 52,028 NET INCOME 23,036 8,920 31,956 RECONCILIATION OF FUNDS Total funds brought forward 7,091 300 7,391 TOTAL FUNDS CARRIED FORWARD 30,127 9,220 39,347 TANGIBLE FIXED ASSETS Fixtures and flttings Plant and machinery Motor vehicles Computer equipment Totals COST At 1 April 2023 and 31 March 2024 20,867 2,568 1,232 6,825 31,492 NET 800K VALUE At 31 March 2024 20,867 2.568 1,232 6,825 31,492 At 31 March 2023 20,867 2,568 1,232 6,825 31,492 Page 10 continued...
The Redeemed Christian Church Of God Testimon Cha Notes to the Financial Statements - continued for the Year Ended 31 March 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other debtors 5,138 5,138 MOVEMENT IN FUNDS Net At 1.4.23 in funds 31.3.24 Unrastricted funds General fund Church Collections HMRC Gift Aid 9,664 {4.266) 24,729 9,664 (6,919) 30,037 (2,653) 5,308 30,127 2,655 32,782 Restricted funds Church Mini Bus Fund 9,220 9,220 TOTAL FUNDS 39,347 2,655 42,002 Net movement in funds, included in the above are as follows., Incoming Resources Movement resources expended in funds Unrestricted funds Church Collections HMRC Gift Aid 71,347 28,522 (74,000) 23,214) (2,653) 5,308 99,869 97,214) 2,655 TOTAL FUNDS 99,869 97,214) 2,655 Page11 continued...
The Redeemed Christian Church Of God Testimon Cha Not8S to the Financial Statements - continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund _ Church Collections HMRC Gift Aid 9,664_ (2,576) 9.664 (4,266> 24,729 (1,690) 24,726 7,091 23,036 30,127 Restrlcted funds Church Mini Bus Fund 300 8,920 9,220 TOTAL FUNDS 7,391 31,956 39,347 Comparative net movement in funds, included in the above are as follows: Incoming Resources Movement resources exp8nded in funds Unrostrlcted funds Church Collections HMRC Gift Aid 50.338 24,726 (52,028) (1,690) 24,726 75,064 (52,028) 23,036 Restrictad fund8 Church Mini Bus Fund 8,920 8,920 TOTAL FUNDS 83,984 52,028) 31,956 Page 12 continued...
The Redeemed Christian Church Of God Testimon Cha Notes to the Financial Statements - continued for the Year Ended 31 March 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds nera un Church Collections HMRC Gift Aid 9,664 (2.576) (4,343) 30,034 (6,919) 30,037 7,091 25,691 32,782 Restrlcted funds Church Mini Bus Fund 300 8,920 9,220 TOTAL FUNDS 7,391 34,611 42,002 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestrlcted funds Church Collections HMRC Gift Aid 121,685 53,248 (126,028) 23,214) <4,343) 30,034 174,933 (149,242) 25,691 Restrlcted funds Church Mini Bus Fund 8,920 8,920 TOTAL FUNDS 183,853 (149,242) 34,611 Page 13 continued...
The Redeemed Christian Church Of God Testimon Cha Notes to the Financial Statements - continued for the Year Ended 31 March 2024 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 14
The Redeemed Christian Church Of God Testimon Cha el Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donatlons and legacles Church Donations Gift aid Donated services and facilities 71,347 28.522 56,314 24,726 2,944 99,869 83,984 Total incoming resources 99,869 83,984 EXPENDITURE Charitable actlvities Salaries and Wages Light and Heating Insurance Legal and Professional Rent Telephone and Broadband Other Office Costs Postage, Stationery & Printing Repair to Building & Mini Hall Africa Mission Vvorld Evangelical Mission Women Programme Central Office Fund Sun School & Pastors Off Renov 9,600 7,418 1,359 1,395 16,800 1,576 618 1,572 43,331 120 9,247 850 1,200 2,128 9,600 14,538 1,227 1,200 7,200 1,428 551 1,128 5,129 120 5,593 800 1,200 2,314 97,214 52,028 Total resources expended 97.214 52,028 Net income 2,655 31,956 This page does not form part of the statutory financial statements Page 15