TWO ACE ACCOUNTANTS
Accountancy Services, Tax and Financial Consultant
Mr Yomi Awosola 100 River View Grays Essex RM16 4BA The Redeemed Christian Church OF God, Jesus People
07 July 2025
Dear Mr Yomi Awosola,
Accounts for Period ended 31/12/2024
Please find attached final accounts for The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) for the period ended 31/12/2024 [including filleted/abbreviated accounts if appropriate].
Please review the attached carefully and if you are happy that the accounts can be approved please print out a set of each of the attached documents, obtain appropriate signatures at the foot of each Balance Sheet [and Directors Report, if relevant] and return the signed documents to this office.
Please do not hesitate to contact us if you have any queries.
Yours sincerely,
LUKMON OGUNBADEJO
Two Ace Accountants - A Division of Two Ace Investment Limited
11 Anglia Way, South Ockendon, Essex, RM15 5FN, United Kingdom
Phone: 01708921404, 07984861868 Email: info@twoaceaccountants.com Web: www.twoaceaccountants.com Company Registration No. 8417299
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich)
Charity No. 1154692
Company No. 08771996
Trustees' Report and Unaudited Accounts
31 December 2024
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 1 | |
| Independent Examiner's Report | 2 | |
| Statement of Financial Activities | 3 | |
| Summary Income and Expenditure Account | 4 | |
| Balance Sheet | 5 | |
| Statement of Cash flows | 6 | |
| Notes to the Accounts | 7 | |
| Detailed Statement of Financial Activities | 8 to | 11 |
Page 1
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 08771996
Charity No. 1154692
Principal Office
100 River View Grays Essex RM16 4BA
Registered Office
100 River View Grays Essex RM16 4BA
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Adenike Akinlotan
Yomi Awosola
Trustee for the charity in holding title to charity property
Nelson Olusegun Okesola Ayokunle Olalekan Adaralegbe Florence Taiwo Jawo Akintunde Oladele Oyebode
Accountants
TWO ACE INVESTMENT LIMITED 11 ANGLIA WAY SOUTH OCKENDON RM15 5FN
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Page 2
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Trustees Annual Report
Signed on behalf of the board
Yomi Awosola Minister In Charge 13 June 2025
Page 3
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Independent Examiners Report
Independent Examiner's Report to the trustees of The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich)
I report to the charity trustees on my examination of the financial statements of The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements 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 the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Lukmon Bola Ogunbadejo Institute of Financial Accountants - FCA/AFA TWO ACE INVESTMENT LIMITED 11 ANGLIA WAY
SOUTH OCKENDON
RM15 5FN 13 June 2025
Page 4
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Statement of Financial Activities
for the year ended 31 December 2024
| Notes Income and endowments from: Donations and legacies 4 Total Expenditure on: Charitable activities 5 Other 6 Total Net gains on investments Net expenditure 7 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ 71,317 |
Total funds 2024 £ 71,317 |
Total funds 2023 £ 62,451 |
|---|---|---|---|
| 71,317 44,261 28,548 |
71,317 44,261 28,548 |
62,451 26,100 44,318 |
|
| 72,809 - |
72,809 - |
70,418 - |
|
| (1,492) - |
(1,492) - |
(7,967) - |
|
| (1,492) | (1,492) | (7,967) | |
| (1,492) 94,913 |
(1,492) 94,913 |
(7,967) 102,880 |
|
| 93,421 | 93,421 | 94,913 |
Page 5
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Summary Income and Expenditure Account
for the year ended 31 December 2024
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure for the year Net expenditure for the year |
2024 £ 71,317 71,317 72,341 468 72,809 (1,492) (1,492) |
2023 £ 62,451 |
|---|---|---|
| 62,451 | ||
| 69,722 696 |
||
| 70,418 | ||
| (7,967) | ||
| (7,967) |
Page 6
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Balance Sheet
at 31 December 2024
| Company No. 08771996 Notes 2024 £ Fixed assets Tangible assets 9 1,620 1,620 Current assets Cash at bank and in hand 91,801 91,801 Net current assets 91,801 Total assets less current liabilities 93,421 Net assets excluding pension asset or liability 93,421 Total net assets 93,421 The funds of the charity Restricted funds 10 Unrestricted funds 10 General funds 94,913 Designated funds (1,492) 93,421 Reserves 10 Total funds 93,421 |
2023 £ 2,087 |
|---|---|
| 2,087 92,826 |
|
| 92,826 | |
| 92,826 94,913 |
|
| 94,913 | |
| 94,913 | |
| 94,913 - |
|
| 94,913 | |
| 94,913 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 13 June 2025
And signed on its behalf by:
Yomi Awosola Minister In Charge 13 June 2025
Page 7
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Statement of Cash flows
for the year ended 31 December 2024
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Net cash used in operating activities Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2024 £ (1,492) 468 (1,024) - - (1,024) 92,826 91,802 91,801 91,801 |
2023 £ (7,967) 696 |
|---|---|---|
| (7,271) | ||
| - | ||
| - | ||
| (7,271) | ||
| 100,097 | ||
| 92,826 | ||
| 92,826 | ||
| 92,826 |
Page 8
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Notes to the Accounts
for the year ended 31 December 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 11
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Tithe and Offering 5 Expenditure on charitable activities Expenditure on charitable activities RCCG WEM World Evangelism RCCG Central Office and Festival of Life Mission Support Other Mission Support Governance costs |
Unrestricted £ 71,317 71,317 Unrestricted £ 15,603 1,300 27,358 44,261 |
Unrestricted funds 2023 £ 62,451 62,451 26,100 44,318 70,418 (7,967) (7,967) (7,967) 102,880 94,913 Total 2024 £ 71,317 71,317 Total 2024 £ 15,603 1,300 27,358 44,261 |
Total funds 2023 £ 62,451 |
| 62,451 26,100 44,318 |
|||
| 70,418 | |||
| (7,967) | |||
| (7,967) | |||
| (7,967) 102,880 |
|||
| 94,913 | |||
| Total 2023 £ 62,451 |
|||
| 62,451 | |||
| Total 2023 £ 2,200 1,582 22,318 |
|||
| 26,100 |
Page 12
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Notes to the Accounts
6 Other expenditure
| Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs No employee received emoluments in excess of £60,000. 9 Tangible fixed assets Cost or revaluation At 1 January 2024 At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charge for the year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023 |
Unrestricted £ 9,086 - 11,925 468 5,819 1,250 28,548 2024 £ 468 |
Total 2024 £ 9,086 - 11,925 468 5,819 1,250 28,548 £ 17,689 17,689 15,601 468 16,069 1,620 2,088 |
Total 2023 £ 7,986 1,363 13,331 696 19,692 1,250 |
|---|---|---|---|
| 44,318 | |||
| 2023 £ 696 £ 17,689 |
|||
| 17,689 | |||
| 15,601 468 |
|||
| 16,069 | |||
| 1,620 | |||
| 2,088 |
Page 13
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Notes to the Accounts
10 Movement in funds
| At 1 January 2024 Incoming resources (including other gains/losses ) £ Restricted funds: Unrestricted funds: General funds 94,913 - Designated funds: Donations and Incoming Resources - 71,317 Total - 71,317 Total funds 94,913 71,317 Purposes and restrictions in relation to the funds: Designated funds: Donations and Incoming Resources To be used for Charitable Activities |
Incoming resources (including other gains/losses ) £ - 71,317 71,317 71,317 |
Resources expended £ - (72,809) (72,809) (72,809) |
At 31 December 2024 £ 94,913 (1,492) |
|---|---|---|---|
| (1,492) | |||
| 93,421 | |||
11 Analysis of net assets between funds
| Fixed assets Net current assets 12 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 January 2024 £ |
Unrestricted funds £ 1,620 91,801 93,421 Cash flows £ |
Total £ 1,620 91,801 |
|---|---|---|---|
| 93,421 | |||
| At 31 December 2024 £ |
|||
| 92,826 | (1,025) | 91,801 | |
| 92,826 92,826 |
(1,025) (1,025) |
91,801 | |
| 91,801 |
13 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Detailed Statement of Financial Activities
for the year ended 31 December 2024
| Income and endowments from: Donations and legacies Tithe and Offering Total income and endowments Expenditure on: Charitable activities RCCG WEM World Evangelism RCCG Central Office and Festival of Life Mission Support Other Mission Support Total of expenditure on charitable activities Employee costs Staff training Welfare Vehicles - Leasing and hire costs Premises costs Rent General administrative costs, including depreciation and amortisation Depreciation of Equipment repairs and maintenance Mission and Evangelism Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments |
Unrestricted funds 2024 £ 71,317 71,317 71,317 15,603 1,300 27,358 44,261 44,261 1,932 7,154 9,086 - - 11,925 11,925 468 2,178 1,340 - 2,301 6,287 1,250 1,250 28,548 72,809 - |
Total funds 2024 £ 71,317 71,317 71,317 15,603 1,300 27,358 44,261 44,261 1,932 7,154 9,086 - - 11,925 11,925 468 2,178 1,340 - 2,301 6,287 1,250 1,250 28,548 72,809 - |
Total funds 2023 £ 62,451 |
|---|---|---|---|
| 62,451 | |||
| 62,451 2,200 1,582 22,318 |
|||
| 26,100 | |||
| 26,100 2,693 5,293 |
|||
| 7,986 | |||
| 1,363 | |||
| 1,363 | |||
| 13,331 | |||
| 13,331 | |||
| 696 16,430 1,106 87 2,069 |
|||
| 20,388 | |||
| 1,250 | |||
| 1,250 | |||
| 44,318 | |||
| 70,418 - |
Page 15
The Redeemed Christian Church OF God, Jesus People Parish (north Woolwich) Detailed Statement of Financial Activities
| Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
(1,492) (1,492) - (1,492) 94,913 93,421 |
(1,492) (1,492) - (1,492) 94,913 93,421 |
(7,967) |
|---|---|---|---|
| (7,967) - |
|||
| (7,967) | |||
| 102,880 | |||
| 94,913 |
Page 16