**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 2024** ## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY Year ended 31 December 2024** |**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 2024** ## **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 2024. 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 2024** ## **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 2024 shows a net Surplus in funds of £6,608 ( 2023 NetSurplus: £6,673) 3 THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY Year ended 31 December 2024 Report of the Trustees (Contdl Volunteers RCCG The Kings Sanctuary Is grateful for the Immence effort of all It's dedicated volunteers who ensure that all our activities are well organised and professionally conducted. Trustees. responslbllttles Law applicable to charltles and companies in England and Wales require5 the trustees to prepare financial statement for each financial year which gives a true and fair view of the state of affairs of the charity and of surplus or deficlt for the perlod. In preparlng the financlal statements the trustees have. Selected suitable accounting pollcles and applled them consistently. Made Judgements and estlmates that are reasonable and prudent. ststed whether appllcable accountln8 Standards have been followed. Prepared the financlal statements on a golng concern basis. The trustees have overall responsiblllty of ensurlng that the church has an approprlate system of controls. flnancial or otherwlse. They are responslble for keeplng proper accounting records whlch dlsclose wlth reasonable accuracy at anytlme the financlal positlon of the church, and to enable them to ensure that the financlal statements comply wlth FRS 102 SORP for Charltles and the Charlties Act 2011. They are responslble for safeguardlng the assets of the Charlty and hence take reasonable steps for the detectlon and prevention of fraud and other Irregularities. Thls report was approved for the board of trustees on the 22 2025. Ms Trary Gilbert Trustee Ind•p•nd•nt Examln•rfs Report to the Trust••s 01 THE REDEEMED CHRISTIAN CHURCH OF GOD fRceG￿ THE KINGS SANCTUARY We rewt on the accounls of the Redeemed C￿lian CIyJTch of God I'RCCG'I - The Kings Sanctuary for th& year end8d 31 st December 2024. vthich are Sel out on pages 610 12. R•sp•clfv• r•1pon￿b1lll1v4 of Iruth•i and •xamln•r 7he Iwst86s Ivtho ore also the dlreclors of the corrrf)ory for the PLKPOS8S of company kjwl are r8sponsitAe for the preparation of the accounts. The truslees consider thal an audit Is nol required for this year under section 144121 of the Chlyllles Acl 2011 Ilhe 3)1 l Actl and thal an indeperKJenl examination is needed. Having sallsfied myself thot Ihg charity is nol subject to audil under company law and is eligilbe for Independenl exomination,11 is my responsibility to- examine Ihe account under Isection 145 of lh8 2011 Acl: lo following the procedure5 laid down in the general Directions given by the Charity Commission under section 145151 Ibl of the 2011 Acl: (N)d lo state whether particul￿ motters come to my ottentlon Bath ol Ind•p•nd•nt •xarnln•rfi r•port My exam1r￿tIon was corrled out In accordance vath the General Dlrectlons glven by the Charfty Commisslon. An exomlnotlon includes a revi8w of the accounting records kept by the Chority and o comparlson of th8 accounts presented with those records. It olso Includes consideration of ony unv5uoI items or disclosures In the accounts, and seeking explonollons from the tnjslees conceming any such matte￿. The procedures undertaken do nol provide an the evidence Ihal would be required in an audit and consequentty no oplnion is glven as lo whelh8r the accounls present a tnje and falr vlew and the rep(%t is limited lo those mallers set out in the statemenl below.. Ind•p•nd•nt •xamln•fs stal•m•nl In connectlon ￿￿th my examination. no motter hos come lo my otlentlon: (I I which glves me re050noble covse lo believe Ihal. in any material respect Ihe requlremenls: to keep occounting records in occordance wilh seclion 386 of lh8 Companies Acl 2CM)6." orKI to prepare occounls which accord wth the occounting record5, comply wilh the accounting requirements of Ihe section 386 of the Componies Act 2C06 ond with the methods ond principlés of Ihe Slotement of Recommemded Practice: Accounling and Repoling by Charities 121 lo which. in my opinion. attention should be dru4vn in ￿der to enQ￿e o proper understan￿ng of Ihe accounts to be reached. Mrs Ell••n Da-slfva FCCA Do-sllvo (￿d Assoclales Lld 14F(ThCIo Dogenham E55ex RMIO 9TX ## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2024** |**2024**
**£**
Notes **Unrestricted**
**Fund**
**£**
**INCOME**
Income from Donations
Donations and Legacies
2
**34,304**
Total Income
**34,304**
**EXPENDITURE**
Expenditure on
Charitable Activities
4
**27,696**
Total Expenditure
**27,696**
**Net Income/(Expenditure)**
**6,608**
**Total Funds brought forward**
**26,403**
**33,011**|2023
£
Unrestricted
Fund
£
30,292| |---|---| ||30,292
| ||23,619| ||23,619| ||6,673
19,730| ||26,403| 6 ## **BALANCE SHEET AS AT 31 DECEMBER 2024** |£
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|**2024**
**£**
**3,627**
**9,990**
**£**
**19,896**
**29,886**
**(500)**
**29,386**
**33,013**
**-**
**33,013**
**33,013**|2023
£| |---|---|---| |||-| |||10,450
16,455| |||26,905| |||(500)
26,405| |||26,405| |||-| |||26,405| |||| |||26,405| 7 THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUAY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 In preparin8 this financial statement: l. The directors are of the opinion that the company Is entitled to exemption from audit under sectlon 477121 of the Companies Act 21J)6 relating to small ¢ompanie& 2. No notice has been deposited under section 476 of the Companies Art 2006 and 3. The directors acknowledge their responsibilities for: . Ensuring that the company keep accounting records vjhich compty wlth settion 386 of the Companies Act 2Crf)6 and . Preparing accounts which give true and fair view of the state of affairs of the company as at the end of the financial year and of ivs SUTplus and deficit In accordance with the requirements of section 396, and which otherwlse compty with the requirements of this Act relating to accounts, so far as applicable to the company. Thls financial ststement have been prepared In accordance wlth the provislons applicable to companies subject to the small Companies regime. Approved on behalf of the board of trustees on the_ 22 20z5 40 Ms Tracy Gilbert Trustee Pastor Festus Azaka Truste• ## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY** ## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024** ## 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 2024** |**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 & Events
Publicity & Advertising
Rent
Depreciation cost
Transport,logistics & Storage
Telephone & media
Books, Printing and Stationeries
Repairs, Renewals & Replacements
Welfare/Gifts
Misc Expenses|**2024**
**Unrestricted**
**Fund**
**£**
**28,396**
**5,789**
**34,185**
**119**
**119**
**1,800**
**480**
**800**
**995**
**4,075**
**1,682**
**2,031**
**599**
**6,206**
**422**
**3,365**
**623**
**749**
**692**
**2,880**
**2,230**
**21,478**|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| 10 ## **THE REDEEMED CHRISTIAN CHURCH OF GOD - THE KINGS SANCTUARY** ## **NOTES TO THE FINANCIAL STATEMENTS (Contd) Year ended 31 December 2024** |**6.**
**Governance & Management**
Independent Examination
Other Accountancy Service
Legal & Professional costs
Honorarium
**7. Tangible Fixed Assets**
**Costs**
At 01/01/24
**Additions**
**Disposal**
**At 31/12/24**
**Accumulated Depreciation**
At 01/01/24
**Depreciation for the year**
**Disposal**
**At 31/12/24**
**Net Book value**
**At 31/12/24**
At 31/12/23
**8.**
**Account Receivable**
Loan to Members
**9.**
**Creditors: amount falling due within one year**
Accountancy
accurals
**10. Movement in funds**
Opening Balance
Incoming Resources
Outgoing Resources||**2024**
**£**
**500**
**780**
**13**
**850**
**2,143**
Church
Equipment
£
4,049
-
4,049
422
-
422
3,627
-
**2024**
**Unrestricted**
**Funds**
**£**
**9,990**
**500**
**-**
**500**
**26,405**
**34,304**
**(27,696)**
**33,013**|2023
£
500
363
13
-| |---|---|---|---| ||||876| ||||**Total**
**Assets**
**£**
-
**4,049**
**-**| ||||**4,049**| ||||**422**
**-**| ||||**422**| ||||**3,627**| ||||-
2023
Unrestricted
Funds
£| ||||10,450| ||||500
-| ||||500| ||||19,730
30,292
(23,619)| ||||26,405| ## **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