THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER
Charity reg. no: 1155097
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| CONTENTS | PAGE |
|---|---|
| Reference and administrative details | 2. |
| Trustees report | 3 - 6 |
| Independent Examiner's report | 7. |
| Statement of Income & Expenditure | 8. |
| Balance sheet | 9. |
| Notes to the accounts | 10 - 12 |
Page 1
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021
| Trustees | Mr Lucky Albert |
|---|---|
| Mrs Oluranti Akinniran | |
| Mr Sehinde Orola | |
| Charity registered | |
| number | 1155097 |
| Principal Office | 20 Tolworth Road |
| Surbiton | |
| Surrey | |
| KT6 7SZ | |
| Parish Pastor | Pastor Jacklord Jacobs |
| Independent Examiner | Akintayo Ojo FCCA |
| Resource Management Consultants Ltd | |
| 46 Hollywood Way | |
| Erith | |
| DA8 2QE | |
| Bankers | Santander |
| Customer Service Centre | |
| Bootle | |
| Mercyside | |
| L30 4GB | |
| Bankers | Lloyds Bank |
| 25 Gresham Street | |
| London | |
| EC2V 7HN |
Page 2
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES' REPORT
FOR YEAR ENDED 31 DECEMBER 2021
The trustees submit their report and financial statement for The Redeemed Christian Church of God - Rivers of Water (The Charity) for the period ended 31 December 2021. The trustees confirm that the trustees' report and financial statements of the charity comply with current statutory requirements of the charity's governing document and the provisions of Charities Act 2011.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Redeemed Christian Church of God - Rivers of Water a registered charity. It is registered with the Charity Commission as a charity in England and Wales and the registration number is 1155097.
APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are appointed and or co-opted under the terms of the trust deed.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES
The induction process for a newly appointed trustees comprises of an initial meeting with the the chair and other trustees, followed by short meetings with the parish pastor on the powers and responsibilities of the trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity is organised so that the trustees meet regularly to manage its affairs. The parish pastor manages the day to day administration of the church.
RELATED PARTY TRANSACTION
RCCG Rivers of Water is a parish of The Redeemed Christian Church of God which has parishes all over the world. The parish's relationship with other parishes is governed by an Agreement for Common purposes'.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks.
OBJECTIVES AND ACTIVITIES
The principal object is the advancement of Christian faith in accordance with the statement of beliefs of The Redeemed Christian Church of God, and the relief of poverty. To achieve its objectives, the church adopted the following strategies:
Running Sunday worship services and midweek bible study, Supporting other charities and Christian events,
Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES' REPORT
FOR YEAR ENDED 31 DECEMBER 2021
PUBLIC BENEFITS
The Church's Sunday and mid-week services are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in the following public benefit efforts:
-
Hosting food banks for the less privileged in our community and giving out food stuffs in the local market monthly.
-
During the year, the charity held summer outings that involved taking community members to Bournemouth.
-
The charity held children and youth outing for the benefit of young people in the community. - During the year, in conjunction with sister churches, we held a community event tagged new wine. A night of praise was held in the community. These events provided community members opportunity to come together for community cohesion.
-
The charity held a women's conference with the theme "Arise and Shine. The conference was focussed on how women can maximise their potentials in community and in life while serving God.
-
The charity held a Christmas Praise Night. A carol service and Christmas celebration for the benefits of members of the the community. It was a time to come together to celebrate the birth of Christ and fellowship with others.
Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.
GRANT MAKING POLICY
The church supports visiting ministers of the gospel both within and outside the United kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes. The Church supports other charities and missionary that shares its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grants to congregational members who are in need.
VOLUNTEERS
The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 1200 hours are provided by volunteers during the year. If this is conservatively valued at £8.20 per hour, the volunteers effort will amount to over £9,840.
REVIEW OF ACTIVITIES
The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of faith contained in our constitution.
Page 4
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES' REPORT
FOR YEAR ENDED 31 DECEMBER 2021
RESERVES POLICY
The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable the current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is below the policy range but the trustees are continuing to seek additional funds for the reserves.
PRINCIPAL FUNDING
Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects.
FUTURE DEVELOPMENTS
The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in the community.
IMPACT OF COVID-19 PANDEMIC
The outbreak of COVID-19 Pandemic in the second half of the year under review resulted in the government introducing various measures, including lockdowns in order to curtail its spread. This action significantly impacted the activities of the church organisation and charity to the extent that Sunday worship services, midweek bible study, regular prayer meetings, workshops and seminars were all moved to holding virtually, using ZOOM video channel.
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THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES' REPORT
FOR YEAR ENDED 31 DECEMBER 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the financial statements, the trustees are required to:
-
Select suitable accounting policies and the apply them consistently;
-
Make judgement and estimates that are reasonable and prudent;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence taking steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by the trustees on 18 October 2022 and signed on their behalf by:
Mr Lucky Albert Trustee
Page 6
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
INDEPENDENT EXAMINERS REPORT
FOR YEAR ENDED 31 DECEMBER 2021
TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER
I report on the accounts of the charity for the period ended 31 December 2021 which is set on pages 8 - 12
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER
The charity trustees are responsible for the preparation of the accounts. The Charity's trustees consider than an audit is not required for the period under section 142(2) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section145 of Charities Act 2011;
-
follow the procedures laid down in the general Directions given by the Charity
-
Commissioners (under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
BASIS OF MY EXAMINATION
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 account, and seeking explanations from you as 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 statements below.
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 trustees have not met the requirements to ensure that:
-
proper accounting records are not kept in accordance with the Charities Act; and
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Charities Act 2011; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Akintayo Ojo FCCA - 27 October 2022
46 Hollywood Way, Erith. DA8 2QE
Page 7
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2021
| Unrestricted Funds Notes 2021 Incoming resources £ Donations & incoming resources 26,331 Interest Received - Grants received - Total incoming resources 26,331 Resources expended Grants payable - individuals 400 Grants payable - institutional 1,865 Cost of activities in furtherance of charity's objects 18,532 Management and governance cost 650 Total resources expended 21,447 Net(outgoing)/incoming resources for the year 4,884 Total funds at the start of the year 27,267 Balance at the end of the year 32,151 |
Unrestricted Funds Notes 2021 Incoming resources £ Donations & incoming resources 26,331 Interest Received - Grants received - Total incoming resources 26,331 Resources expended Grants payable - individuals 400 Grants payable - institutional 1,865 Cost of activities in furtherance of charity's objects 18,532 Management and governance cost 650 Total resources expended 21,447 Net(outgoing)/incoming resources for the year 4,884 Total funds at the start of the year 27,267 Balance at the end of the year 32,151 |
Restricted Funds 2021 £ 385 - - |
Total Total Funds Funds 2021 2020 £ £ 26,716 18,975 - 2 - 311 26,716 19,288 400 9,065 1,865 654 18,532 15,201 650 870 21,447 25,790 5,269 6,502 - 29,017 35,519 34,286 29,017 |
|---|---|---|---|
| 26,331 | 385 | ||
| 400 1,865 18,532 650 |
- - - - |
||
| 21,447 | - | ||
| 4,884 27,267 |
385 1,750 |
||
| 32,151 | 2,135 |
Page 8
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
BALANCE SHEET AS AT 31 DECEMBER 2021
| Notes Fixed Assets Tangible fixed assets 15 Current assets Cash at bank and in hand 7 Debtors 8 Less: Current Liabilities: Creditors: Amount falling due within 9 One year Net assets Financed BY: Charity funds General - restricted General - unrestricted |
Total Total Funds Funds 2021 2020 £ £ 1,907 2,337 28,328 27,531 4,700 - 33,028 27,531 650 852 34,286 29,017 2,135 1,750 32,151 27,267 34,286 29,017 |
|---|---|
The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities
Approved by the Trustees on 18 October 2022 and signed on their behalf by:
Mr Lucky Albert Trustee
Page 9
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
(1.1) Basis of preparation of financial statements
These accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) .The financial statements have been prepared with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities published in 1 January 2019 and applicable accounting standards.
(1.2) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be reasonably quantified with reasonable accuracy.
(1.3) Resources expended
All expenditures are accounted for on an accrual basis. Management and governance costs are cost incurred in connection with administration and compliance with statutory requirement
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES Collection and other donations Interest received 3. Grants Received HMRC National Insurance Relief 3. Grants payable - individual Individual welfare 4. Grants payable - institutional Charitable giving -UK Charitable giving -overseas Total List of Charitable giving - UK RCCG WEM World Evangelism RCCG Central Office COF Support Compassion Charity Support Total grant payable - institutional |
Unrestricted Funds 2021 £ 26,331 - |
Restricted Funds 2021 £ 385 - 385 £ - £ - £ - - - £ - - - - |
Total Total Funds Funds 2021 2020 £ £ 26,716 18,975 - 2 |
|---|---|---|---|
| 26,331 | 26,716 18,977 |
||
| £ - |
£ £ - 311 |
||
| £ 400 |
£ £ 400 9,065 |
||
| £ 1,865 - |
£ £ 1,865 654 - - |
||
| 1,865 | 1,865 654 |
||
| £ 959 234 672 |
£ £ 959 - 234 - 672 654 |
||
| 1,865 | 1,865 654 |
Page 10
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2021
| Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2021 2021 2020 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Worship cost 382 - 382 101 Staff cost 11,444 - 11,444 11,455 Hall hire, rent & rates 600 - 600 - Printing & stationery 446 - 446 450 Visiting minister's expenses & Community p 1,108 - 1,108 - Music & liturgy 435 - 435 285 Mission & evangelism 213 - 213 462 Insurance - - - 152 Office & telephone expenses 379 - 379 482 Welfare & hospitality 506 - 506 77 Depreciation 1,415 - 1,415 1,169 Other mission costs & church group 62 - 62 102 Travel & subsistence - - - - IT Consumables 512 - 512 155 Building Renovation 1,030 - 1,030 311 18,532 - 18,532 15,201 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2021 2020 £ £ £ £ Professional fees - - - 120 Examiner's fees - accountancy 650 - 650 750 650 - 650 870 Year ended Year ended 31-Dec 31-Dec 2021 2020 7. CASH BALANCES £ £ Cash & bank 28,328 27,531 28,328 27,531 |
Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2021 2021 2020 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Worship cost 382 - 382 101 Staff cost 11,444 - 11,444 11,455 Hall hire, rent & rates 600 - 600 - Printing & stationery 446 - 446 450 Visiting minister's expenses & Community p 1,108 - 1,108 - Music & liturgy 435 - 435 285 Mission & evangelism 213 - 213 462 Insurance - - - 152 Office & telephone expenses 379 - 379 482 Welfare & hospitality 506 - 506 77 Depreciation 1,415 - 1,415 1,169 Other mission costs & church group 62 - 62 102 Travel & subsistence - - - - IT Consumables 512 - 512 155 Building Renovation 1,030 - 1,030 311 18,532 - 18,532 15,201 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2021 2020 £ £ £ £ Professional fees - - - 120 Examiner's fees - accountancy 650 - 650 750 650 - 650 870 Year ended Year ended 31-Dec 31-Dec 2021 2020 7. CASH BALANCES £ £ Cash & bank 28,328 27,531 28,328 27,531 |
Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2021 2021 2020 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Worship cost 382 - 382 101 Staff cost 11,444 - 11,444 11,455 Hall hire, rent & rates 600 - 600 - Printing & stationery 446 - 446 450 Visiting minister's expenses & Community p 1,108 - 1,108 - Music & liturgy 435 - 435 285 Mission & evangelism 213 - 213 462 Insurance - - - 152 Office & telephone expenses 379 - 379 482 Welfare & hospitality 506 - 506 77 Depreciation 1,415 - 1,415 1,169 Other mission costs & church group 62 - 62 102 Travel & subsistence - - - - IT Consumables 512 - 512 155 Building Renovation 1,030 - 1,030 311 18,532 - 18,532 15,201 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2021 2020 £ £ £ £ Professional fees - - - 120 Examiner's fees - accountancy 650 - 650 750 650 - 650 870 Year ended Year ended 31-Dec 31-Dec 2021 2020 7. CASH BALANCES £ £ Cash & bank 28,328 27,531 28,328 27,531 |
Year ended Year ended Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2021 2021 2020 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ £ £ Worship cost 382 - 382 101 Staff cost 11,444 - 11,444 11,455 Hall hire, rent & rates 600 - 600 - Printing & stationery 446 - 446 450 Visiting minister's expenses & Community p 1,108 - 1,108 - Music & liturgy 435 - 435 285 Mission & evangelism 213 - 213 462 Insurance - - - 152 Office & telephone expenses 379 - 379 482 Welfare & hospitality 506 - 506 77 Depreciation 1,415 - 1,415 1,169 Other mission costs & church group 62 - 62 102 Travel & subsistence - - - - IT Consumables 512 - 512 155 Building Renovation 1,030 - 1,030 311 18,532 - 18,532 15,201 6. MANAGEMENT AND GOVERNANCE COSTS Year ended Year ended Unrestricted Restricted 31-Dec 31-Dec Funds Funds 2021 2020 £ £ £ £ Professional fees - - - 120 Examiner's fees - accountancy 650 - 650 750 650 - 650 870 Year ended Year ended 31-Dec 31-Dec 2021 2020 7. CASH BALANCES £ £ Cash & bank 28,328 27,531 28,328 27,531 |
|---|---|---|---|
| 18,532 | - 18,532 15,201 |
||
| Unrestricted Funds £ - 650 |
Year ended Year ended Restricted 31-Dec 31-Dec Funds 2021 2020 £ £ £ - - 120 - 650 750 |
||
| 650 | - 650 870 |
||
| Year ended Year ended 31-Dec 31-Dec 2021 2020 £ £ 28,328 27,531 28,328 27,531 |
|||
| 28,328 27,531 |
Page 11
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2021
8. DEBTORS
| 8. DEBTORS | Year ended | Year ended |
| 31-Dec | 31-Dec | |
| 2021 | 2020 | |
| £ | £ | |
| Other debtors | 4,700 | - |
| 4,700 | - | |
| 9. CREDITORS | Year ended | Year ended |
| 31-Dec | 31-Dec | |
| 2021 | 2020 | |
| £ | £ | |
| World Evangelism Mission | - | - |
| Nest Pensions - Accrued pensions | - | 102 |
| Accrued accountancy fees | 650 | 750 |
| 650 | 852 |
10. RELATED PARTY TRANSACTIONS
During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in note 4.
11. NET INCOMING RESOURCES/(RESOURCES EXPENDED)
| 11. NET INCOMING RESOURCES/(RESOURCES EXPENDED) | ||
|---|---|---|
| Year ended | Year ended | |
| This is stated after charging | 31-Dec | 31-Dec |
| 2021 | 2020 | |
| £ | £ | |
| Accountant's fees | 650 | 750 |
| 12. TRUSTEES RENUMERATION | Year ended | Year ended |
| 31-Dec | 31-Dec | |
| 2021 | 2020 | |
| During the year, no trustee received any remuneration | NIL | NIL |
| During the year, no trustee received any benefits in kind | NIL | NIL |
Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2021
| 13. STAFF COST Year ended Staff costs were as follows 31-Dec 2021 £ Wages and salaries 11,000 Social security costs 300 Employers Pensions 144 11,444 Year ended The average number of employee during the year was as follows 31-Dec 2021 No Pastoral 1 14. Fixed Assets Cost At 1 January 2021 Additions At 31 December 2021 Depreciation Accumulated depreciation 1 January 2021 Charge for the year At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 |
Year ended 31-Dec 2020 £ 11,000 311 144 |
|---|---|
| 11,455 | |
| Year ended 31-Dec 2020 No 1 31-Dec 2021 £ 6,919 985 |
|
| 7,904 | |
| 4,582 1,415 |
|
| 5,997 | |
| 1,907 | |
| 2,337 |
Page 13