**Charity Registration No. 1154805 Company Incorporation No. 08777951**
## **THE REDEEMED CHRISTIAN CHURCH OF GOD THE KINGS SANCTUARY**
**Report & Financial Statement for the year ended**
**31 December 2023**
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY Year ended 31 December 2023**
|**REPORT AND FINANCIAL STATEMENTS**||
|---|---|
||**PAGE**|
|**CONTENTS**||
|**REPORT OF THE BOARD & STATEMENT OF BOARD'S RESPONSIBLITIES**|**2-4**|
|**INDEPENDENT EXAMINER'S REPORT**|**5**|
|**STATEMENT OF FINANCIAL ACTIVITIES**|**6**|
|**BALANCE SHEET**|**7-8**|
|**NOTES TO THE FINANCIAL STATEMENT**|**9-11**|
1
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY Year ended 31 December 2023**
## **Reference and Administrative Details**
## **Report of the Trustees**
The trustees have the pleasure of presenting their annual report and financial statement of Redeemed Christian Church of God - The Kings Sanctuary for the year ended 31 December 2023. The trustees confirm that the annual report complies with the statutory requirements of the Charities Act 2011 and , the church's governing document and FRE 102 (SORP) for Charities.
## **BOARD MEMBERS, OFFICERS, ADVISERS AND BANKERS**
## **General Overseer**
Pastor E A Adeboye
## **Board of Trustees**
Ms Tracy Gilbert Mrs Oluwakemi O. Awosika Pastor Festus Azaka
## **Pastor In Charge**
Pastor Helen Ronke Azaka
## **Principal Address**
Flat 21, Bordeaux House 1 Luxembourg Mews London E15 1SD
## **Accountants**
Da-Silva and Associates Limited Chartered Certified Accountants 14 Farm Close Dagenham RM10 9TX
## **Bankers**
Lloyds Bank Plc Barclays Bank Plc Natwest
## **Statutory Registration**
Charity Number: 1151877 CompanyNumber: 08470482
2
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY Year ended 31 December 2023**
## **Report of the Trustees (Contd)**
## **Principal activities**
The charity's principal activity during the year continued to be the advancement of the Christian faith worldwide in accordance with the doctrine set out in the Statement of faith of our trust deed and the relief of poverty to those at risk in the general public.
## **Organisation structure, governance and management**
RCCG The Kings Sanctuary is a Company in England and Wales since 15th November 2013 and also a registered charity in United Kingdom since 29th November 2013. The overall control of the charity is the responsibility of the board of trustees were adopted by a Memorandum of Association dated 15th Nov-13
The pastor in charge is responsible for the day to day activities of the charity. The pastor liases with the board of trustees, when they meet to review the activities of the organisation.
## **Related party relationship**
RCCG The Kings Sanctuary is a member of the Redeemed Christian Church of God (RCCG), which has parishes in the UK and Worldwide. This relationship is governed by an article of common purposes. RCCG The Kings Sanctuary make regular contributions for RCCG UK for it's annual activities.
## **Risk management**
The trustees have assessed the major risks to which the church is exposed to, in particular those relating to it's internal control, it's operations and finances of the church and are satisfied that systems are in place to mitigate exposure to any major risks.But these are constantly being reviewed for improvement.
## **Reserve Policy**
RCCG The Kings Sanctuary ensures that a reservation of at least one month of the fixed operational costs are maintained at all times, to safeguard against unforseen contigencies.
## **Grant Making Policy**
RCCG The Kings Sanctuary make regular contibutions to the RCCG World evengelical, RCCG Central office fund, Festival of life amongst others; in fulfilment of it's obligations. The Charity also make donations to other Charities within the UK, in line with it objects.
## **Financial review**
The Charity's financial statement for the year ended 31 December 2023 shows a net Surplus in funds of £6,673 ( 2022 Net Deficit: £715)
3
THE REDEEMED CHRlSfiAN CHURCH OF GOD- THE KINGS SANcfuARY
Year ended 31 December 2023
Report of the Trustees {Contd)
Volunteers
RCCG The Kings Sanctuary is grateful for the Immence effort of all It's dedlcated volunteers
who ensure that all our activities are well organised and professionally condurted.
Trustees, responsibilities
Law applicable to charitles and companles in England and Wales requires the trustees to prepare financial
statement for each financial year which gives a true and fair view of the stste of affairs of the charity and
of surplus or deficit for the period. In preparing the financial statements the truste¢s have,.
Selerted suitable accounting policies and applled them consistently.
Made judgements and estimates that are reasonable and prudent.
Stated whether applicable accounting standards have been followed.
Prepared the financial statements on a going concern basis.
The trustees have overall responsibility of ensuring that the church has an approprlate system of controls,-
flnancial or otherwise. They are responsible for keeping proper accounting iecords which disclose with
reasonable accuracy at anytime the financial position of the church, and to enable them to ensure that the
financial statements comply with FRS 102 SORP for Charities and the Charitles Act 2011. They are
responslble for safeguarding the assets of the Charity and hence take reasonable steps for the detection
and prevention of fraud and other irregularities.
This report was approved for the board of trustees on the
2L_£_ 2024.
racy Gilbert
Trustee
## **Independent Examiner's Report to the Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD ("RCCG") THE KINGS SANCTUARY**
We report on the accounts of the Redeemed Christian Church of God ("RCCG") - The Kings Sanctuary for the year ended 31st December 2023, which are set out on pages 6 to 12.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligilbe for independent examination, It is my responsibility to:
- examine the account under (section 145 of the 2011 Act;
- to following the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention
## **Basis of independent examiner's report**
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 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 gives me reasonable cause to believe that, in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006;
- **-** and to prepare accounts which accord with the accounting records, comply with the accounting requirements of the section 386 of the Companies Act 2006 and with the methods and principles of the Statement of Recommemded Practice: Accounting and Repoting by Charities
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Mrs Eileen Da-Silva FCCA MBA BA(Hons)**
Da-Silva and Associates Ltd 14 Farm Close Dagenham Essex RM10 9TX
## **29/05/**
…………………………………… **2024**
5
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2023**
|**2023**
**£**
Notes **Unrestricted**
**Fund**
**£**
**INCOME**
Income from Donations
Donations and Legacies
2
**30,292**
Total Income
**30,292**
**EXPENDITURE**
Expenditure on
Charitable Activities
4
**23,619**
Total Expenditure
**23,619**
**Net Income/(Expenditure)**
**6,673**
**Total Funds brought forward**
**19,730**
**26,403**|2022
£
Unrestricted
Fund
£
19,834|
|---|---|
||19,834|
||20,549|
||20,549|
||(715)
20,445|
||19,730|
6
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|£
Notes
**Fixed assets**
Tangible fixed assets
7
**Current assets**
Accounts receivable
8
Cash at bank and in hand
**Creditors: amount falling due within one year**
9
Net current assets/current liabilities)
Total assets less current liabilities
**Creditors: amount falling due after more than one year**
**TOTAL NET ASSETS**
**RESERVES**
**Unrestricted Funds**
10|**2023**
**£**
**-**
**10,450**
**16,455**
**26,905**
**(500)**
**26,405**
**26,405**
**-**
**26,405**
**26,405**|2022
£|
|---|---|---|
|||-|
|||13,250
10,608|
|||23,858|
|||(4,128)
19,730|
|||19,730|
|||-|
|||19,730|
||||
|||19,730|
7
THE REDEEMED CHRISTIAN CHURCH OF GOD-THE KINGSSANcfuAY
BALANCE SHEET ICONTINUEDI
AS AT 31 DECEMBER 2023
In pparIng this financial statement..
l. The directors are of the opinion that the cornpany is entitled to exemption
frorn audit under section 477121 of the Companiès Act 2Q)6 relating to srnall companies.
2. No notice has been deposited under section 476 of the Companies Act 2006 and
3. The directots acknowledge their responsibillties for-
Ensufing that the company keep accounting records which comply wlth
section 386 of the Companies Act 2006 and
Preparing account5 whith givè true and fair view of the statè of affairs of the
company as at the end of the financial year and of ivs surplus and deficit in
accordance with the requirements of sertion 396, and which othefwise cornply
with the requiremerlts of this Art relating to account5, $0 far as applicable to the companv.
This financial statement have been prepared in accordance with the provisions applicable to
companie5 subjed to the small companies regime,
Approved on behalf of the board of trustees on the
202
Ms Tracy Gilbert
Trustee
Pastor Festus Azaka
TNst
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023**
1. **Accounting Policy**
The principal accounting policies, all of which have been applied consistently throughout the year, are set out below:
## **(a) Scope and basis of the financial statements**
The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, "Accounting and Reporting by Charities" (SORP 2005) issued in March 2005
## **(b) Incoming Resources**
All income is accounted for when the Charity has entitlement to the funds, the amount can be quantified and there is certainty of receipt.
## **(c) Resources expended**
All expenditure is accounted for on accrual basis
Management and administration costs include management of the charity's assets.
## **(d) Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost and depreciated on a straight line basis over their useful economic lives.
The depreciation rates applied, are as follows:
|Church Equipment|25%|
|---|---|
|Motor Vehicle|50%|
9
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY**
## **NOTES TO THE FINANCIAL STATEMENTS (Contd) Year ended 31 December 2023**
|**2. INCOME**
**Donations and Legacies**
Donations
Gift Aid Reclaimed
**3.**
**Income from Activities for Generating Funds**
Other donations
**4.**
**Donation to others**
RCCG WEM & COF
Festival of Life
RCCG Campground
Others
**5.**
**Support Cost**
Conferences and Development costs
Church Thanksgiving &Event
Publicity & Advertising
Rent
Depreciation cost
Transport,logistics & Storage
Telephone & media
Books, Printing and Stationeries
Repairs, Renewals & Replacements
Welfare/Gifts
Misc Expenses|**2023**
**Unrestricted**
**Fund**
**£**
**22,390**
**3,632**
**26,022**
**4,270**
**4,270**
**1,800**
**480**
**2,500**
**800**
**5,580**
**500**
**2,320**
**100**
**6,237**
**-**
**2,472**
**708**
**195**
**1,558**
**1,501**
**1,571**
**17,162**|2022
Unrestricted
Fund
£
17,253
2,580|
|---|---|---|
|||19,834|
|||-|
||||
|||-|
|||1,800
480
-
300|
|||2,580|
|||-
2,799
1,015
7,148
125
2,182
932
380
701
1,027
222|
|||16,531|
10
## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY**
## **NOTES TO THE FINANCIAL STATEMENTS (Contd) Year ended 31 December 2023**
|**6.**
**Governance & Management**
Independent Examination
Other Accountancy Service
Legal & Professional costs
Honorarium
**7.**
**Account Receivable**
Loan to Members
**8.**
**Creditors: amount falling due within one year**
Accountancy
accurals
**9.**
**Movement in funds**
Opening Balance
Incoming Resources
Outgoing Resources|**2023**
**£**
**500**
**363**
**13**
**-**
**876**
**2023**
**Unrestricted**
**Funds**
**£**
**10,450**
**500**
**-**
**500**
**19,730**
**30,292**
**(23,619)**
**26,405**|2022
£
480
258
-
700|
|---|---|---|
|||1,438|
|||2022
Unrestricted
Funds
£|
|||13,250|
|||480
3,648|
|||4,128|
|||20,445
19,834
(20,549)|
|||19,730|
## **11. Taxation**
RCCG The Kings Sanctuary is now an incorporated charity and is eligible to the exemption from taxation available to charities on their charitable activities. No charge to taxation therefore arises.
11