THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER Charity reg. fbo.. 1155097 TRUSTEES REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE REDEEMED CHRIsfiAN CHURCH OF GOD RIVERS OF WATER TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS PAGE Reference and admlnlstrative detalls TruseS report Independent Examiner's report Statement of Income & Expenditu Balance sheet Notes to the accounts 10- 12 Page I
THE REDEEMED CHRisfIAN CHURCH OF GOD RIVERS OF WATER REFERENCE AND ADMINISTRATIVE DAlLs OF THE CHARrr, ITS TRusfEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Mr Lucky Albert Mrs Oluranti Akinniran Mr Sehlnde Orola Charity registered number 1155097 Principal Office 20 Tolworth Road Surblton Surrey KT6 7SZ Parish Pastor Pastor Jacklord Jacobs Independent Examiner Aklntayo Ojo FCCA Resource Management Consultants Ltd 46 Hollywood Way Erith DA8 2QE Bankars Santander Customer Servlce 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 2023 The trustees submlt thelr report and flnanclal statement for The Redeemed Chrlstlan Church of God - Rlvers of Water (The Charlty) for the period ended 31 December 2023. The trustees conflrm that the trustees, report and flnancial statements of the charlty comply with cUrnt statutory quirements of the charity's governlng document and the provlslons of Charltles Act 2011. STRUCTURE, GOVERNANCE AND MANAGEMENT The Redeemed Christian Church of God - Rivers of Water a reglstered charity. It is gIStered wlth the Charity Commlssion as a charity in England and Wales and the reglstratlon 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 inductlon process for a newly appolnted trustees comprises of an initial meeting wlth the the chalr and other trustees, followed by short meetings wlth the parish pastor on the powers and responsibilities of the trustees. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity is organlsed so that the trustees meet regu larly to manage Its affairs. The parish pastor manages the day to day admlnlstratlon of the church. RELATED PARTY TRANSACTION RCCG Rivers of Water is a parlsh of The Redeemed Christian Church of God which has parishes all over the world. The parlsh'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 charlty Is exposed, In particu lar those related to operatlons and finances of the charity, and are satisfied that systems are in place to mltlgate our expOsuS to major rlsks. OBJEcfIvES AND ACTIVITIES The principal object is the advancement of Chrlstlan falth In accordance with the statement of bellefs of The Redeemed Christian Church of God, and the rellef of poverty. To achieve its objettives, the church adopted the following strategles: Rufining Sunday worshlp servlces and mldweek blble study, Supporting other charlties and Chrlstlan events, Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER TRUSTEES, REPORT FOR YEAR ENDED 31 DECEMBER 2023 PUBLIC BENEFITS The Chu rch's Sunday and mld-week servlces are open to the general public to bulld on thelr Chrlstlan faith. Apart from Its Church actlvltles, the charlty was Involved in the followlng public beneflt efforts., Hosting food banks for the less privileged In our communlty and glving out food stuffs in the local market monthly. During the year, the charlty held summer outlngs that Involved taklng community members to Bournemouth. The charity held children and youth outing for the benefit of young people the community. Du ring the year, in con]"unctlon with sister chu rches, we held a community event tagged new wlne. A nlght of praise was held in the communlty. These events provided community members opportunity to come together for community coheslon. The charlty 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 seNlng God. The charity held a Christmas Pralse Nlght. A carol servlce and Chrlstmas celebratlon for the benefits of members of the the community. It was a time to come together to celebrate the birth of Christ and fellowshlp wlth others. Our efforts are gead towards supportlng the programmes of our local communityi promoting cohesion in our communlty, and impacting the lives of the young people and the elderly. GRANT MAKING POLICY The chu rch supports visiting ministers of the gospel both within and outside the United klngdom. 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 glves occaslonal welfare grants to congregational members who are in need. VOLUNTEERS The chu rch is grateful for the unstintlng efforts of Its volunteers who a Involved In providing services for the charlty. It Is estlmated that over 1200 hou rs are provided by volunteers during the year. If thls Is conservatlvely valued at £8.20 per hou r, the volunteers effort will amount to over £9,840. REVIEW OF ACTIVITIES The church continues to enjoy tmendouS growth in its physical and spiritual life during the year, and in the advancement of Christian falth in accordance wlth the doctrlnes set out In the Statement of frdith contained in our constitution. Page 4
THE REDEEMED CHRIsfIAN CHURCH OF GOD RIVERS OF WATER TRUSTEES, REPORT FOR YEAR ENDED 31 DECEMBER 2023 RESERVES POLICY The trustees, policy is to have unrestricted and uncommitted fvnds (free reserves) to cover 3 to 6 months of resources expended. They feel that thls would enable the current activities to continue if there is any significant d rop in funding. It would obviously be necessary then to consider how the funding would be replaced or attlvltles changed. The psent free reserve Is below the policy range but the trustees are continuing to seek additional ndS for the reserves. PRINCIPAL FUNDING Funding has been provided malnly through tithes and offerlngs by church members and through donations. Pledges are also taken for speclflc projects. FUTURE DEVELOPMENTS The charlty contlnues to explore various ways of spreading the gospel of Christ in an effettive manner. The charity Is also looklng to grow In membership and contlnue to develop its members to make Ilfe-changing impact in the commu nity. Page 5
THE REDEEMED CHRzsfIAN CHURCH OF GOD RIVERS OF WATER TRUSTEES, REPORT FOR YEAR ENDED 31 DECEMBER 2023 STATEME OF TRusfEES' RESPONSfBILtrIES The Trustees are responsiEle for prepartng the annual report and flnanaal statements in accor- dance wlth applicable laws and regulatK)ns. Charity law requires the trustees to prepare financial Statements for eech flnandal year. Under that law, the trustees have elerted to prepare the finandal ststements in acetréance with the United Kingdom Generally Acceptable ACCOUnng pract1 (United Kingdom Accountlng standards and applicable law). The finandal statements are required to glve a true and falr vlew of the state of affalrs of the charity and of the surplus or deficfjt of the chartty for that pertod. In prepartng the financlal statements, the trustees are required to: Selert sultable accounung poliaes and the apply them consistentlyi Make Judgement and estlmates that are reasonable and pNdent' Prepare the financlal statements on the going concern basis unless It is Inapprcprlate to presLFme that the cornpany wlll continue In operdtion. The trustee5 recognise their ponsIbIlItIeS to keep pn)per accountlng records that dlsclose wlth reasonable accurncy at any tlme the financlal position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responslble for safeguarding the assets of the company and hen 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, byho5e rewrt is also appended. Approved by the truste on 18-1 D- 2024 and slgn&J on thelr behalf by: Mr Lucky Albert Trustee Page 6
THE REDEEMED CHRIsfiAN CHURCH OF GOD RIVERS OF WATER INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 DECEMBER 2023 TO THE TRUSTEES OF THE REDEEMED CHRIsfIAN CHURCH OF GOD RIVERS OF WATER I report on the accounts of the charity for the perlod ended 31 December 2023 whlch Is set on pages 8- 12 RESPEcfIvE RESPONSIBILMES OF THE TRUSTEES AND THE EXAMINER The charity trustees a responsible for the preparation of the accounts. The Charity's trustees consider than an audlt Is not requlred for the perlod under sectlon 142(2) of the Charitles Act 2011 and that an Independent examinatlon Is needed. It Is my responslblllty to: examlne the accounts under section145 of Charltles Act 2011; follow the procedures laid down In the general Dlrections given by the Charity Commlssloners (u nder section 145(5) (b) of the 2011 Act. and state whether partlcular matters have come to my attentlon. BASIS OF MY EXAMINATION My examlnatlon was carrled out In accordance with the General Directlons glven by the Charlty Commission. An examlnatlon Includes a revlew of the accounting records kept by the charity and a comparison of the accounts presented with those cOrdS. It also Includes conslderatlon of any unusual items or disclosures in the account, and seeking explanations from you as trustees concernlng any such matters. The procedures undertaken do not provide all the evldence that wou Id be requ Ired in an audit, and consequently no oplnlon is glven as to whether the accou nts present a "true and fair" view and the report Is Ilmlted to those matters set out in the statements below. EXAMINER'S STATEMENT In connection wlth my examination, no matter has come to my attention.. (l) whlch glves me reasonable cause to belleve that In any materlal respect the trustees have not met the requlrements to ensure that., proper accou ntlng cordS a not kept in accordance with the Charitles Att; and accounts are prepared which agree with the accou nting record5 and comply wlth the accounting requlrements of the Charltles Act 2011,. or (2) to whlch, In my oplnlon, attentlon should be drawn In order to enable a proper under- standlng of the accounts to be reached. Aklntayo Jo FCCA .13 Dctokw 2024 46 Hollywood Way, Erlth. DA8 2QE Page 7
THE ReDEEMED CHRIsfiAN CHURCH OF GOD RIVERS OF WATER STATEMENT OF FINANCIAL ACTivrtIES FOR YEAR ENDED 31 DECEMBER 2023 Unrestrfcted rIcted Total Total Funds Furtds Funds Funds Notes 2023 2023 2023 2022 Incoming resources Donations & incoming resources Interest Received Grants received Total incoming resources 41,652 200 41,852 29,842 41,652 200 41,852 29,842 R¢$ources expended Grants payable - indlvlduals Grants payable - institutlonal Cost of activities in rtherance of charity's objects Management and governan cost Total resources expended 800 2,653 26,707 965 31,124 704 29,584 700 30,988 704 29,584 700 30,988 Net(outgolng)/lncomlng resources for the year 10,664 200 10,864 1,282 Total funds at the start of the year 30,594 2,410 33,004 34,286 Balance at the end of the year 41,258 2,610 43,868 33,004 Page 8
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER BALANCE SHEEr AS AT 31 DEMBER 2023 7otJ T¢t•l Fund¥ Fund 2022 Notes 2023 Flxed Assets Tangible flxed assets 15 Current aswts Cash at bank and In hand Debtors 37.346 7,500 44,846 800 31.784 Less: Curreth Uabilities: Credltors: Amount falllng due wlthln One year Net assets 978 43,868 844 33,004 Financed BY: Charlty funds General - restricted General - unrestrfcted 2,610 41.258 43,868 2,410 30,594 33,004 The accounts have b*n prepared In accordance wlth the 5peaal provlsK)n of Staternent of Recommend8J Practke.. AccoLmUng and Reporvng by Chorityes (SORPI Issued Marth 2005 as rn¢yJifEd for smaller th6ritie5 Approved by the Trustees on 18-10-U34 2024 and slgned on thelr tehalf by: Mr LkY Albert Page 9
THE REDEEMED CHRIsfIAN CHURCH OF GOD RIVERS OF WATER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 I. ACCOUNTING POLICIES (l. l) Basis of preparation of financial statements These accounts have been prepared under the hlstorical cost conventlon and In accordance with the Flnancial Reporting Standard for Smaller Entitles (effectlve April 2008) .The financial statements have been prepared with Statement of Recommended Practlce (SORP), "Accounting and Reporting by Charities pu blished in l January 2019 and applicable accountlng standards. {1.2) Incoming resources All incoming resour5 are Included in the statement of flnancial actlvities when the charity is legally entitled to the income and the amount can be reasonably quantlfled wlth reasonable accuracy. (1.3) Resources expended All expenditures are accounted for on an accrual basls. Management and governan costs are cost incurred in connectlon wlth admlnlstration and compliance with statutory requlrement Unrestricted ReStre(l Total Total Funds Funds Funds Funds 2023 2023 2023 2022 2. DONATtONS, LEGAUES AND SIMILAR INCOMING RESOUR Collection and other donatlons Interest received 41,652 200 41,852 29,842 41,652 200 41,852 29,842 3. Grants Recelved HMRC National Insurance Relief 3. Grants payable - Indlvldual Individual welfare 800 4. Grants payable - Instltutlonal Charitable giving -UK Charitable giving -overseas Total 704 704 2,653 704 704 2,653 Llst of Charltable glving UK RCCG WEM World Evangelism RCCG Central Office COF Support Compassion Charlty Support Total grant payable - institutional 1,561 420 672 704 704 704 704 2,653 Page 10
THE REDEEMED CHRIsfIAN CHURCH OF GOD RIVERS OF WATER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 Year endecl Year ended unrestric Restricted Total Total Funds Funds Funds Funts 2023 2023 2023 2022 S. COST OF AcfIviTIES IN FURTHERANCE OF CHAR Worship cost Staff cost Hall hlre, rent & rates Prlntlng & stationery Vislting minister's expenses & Community pr Music & liturgy Mlssion & evangellsm Vehlcle running Offlce & telephone expenses Welfare & hospltality Depreclatlon Other misslon costs & church group Travel & subslstence IT Consumables Building Repairs 221 11,444 4.500 221 11,444 4,500 402 11,444 2,700 570 1,150 303 1,442 3,500 208 1,181 1,939 713 379 1,450 745 4,565 754 256 1,725 2,064 713 53 1,450 745 4,565 754 256 1,725 2,064 713 53 694 400 29,584 694 400 29,584 376 400 26,707 6. MANAGEMENT AND GOVERNANCE COSTS Year ended 31-Dec 2023 Year ended 31-Dec Unrestricted Restricted Funds Funds 2022 Professional fees 315 Examlner's fees - accountancy 700 700 700 700 650 965 Year ended Year ended 31-Dec 2023 31-Dec 2022 7. CASH BALANCES Cash & bank 37,346 37,346 30,984 30,984 Page 11
THE REDEEMED CHRisfIAN CHURCH OF GOD RIVERS OF WATER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 8. DEBTORS Year ended 31-Dec 2023 Year ended 31-Dec 2022 Other debtors 7,500 7,500 800 800 9. CREDITORS Year ended Year ended 31-Dec 2022 31-Dec 2023 World Evangellsm Misslon Nest Pensions - Accrued penslons Accrued accountancy fees 278 700 978 194 650 844 10. RELATED PARTY TRANSACTIONS Du ring the year, the church pald Institutlonal grants to other RCCG organisatlons such as the World Evangelism Mlsslon as stated in note 4. 11. NET INCOMING RESOURCESI(RESOURCES EXPENDED) Year ended Year ended 31-Dec 2022 This Is stated after charglng 31-Dec 2023 Accountant's fees 700 650 12. TRUSTEES RENUMERATION Year ended Year ended 31-Dec 2023 31-Dec 2022 During the year, no trustee received any remuneration Durlng the year, no trustee CeIved any benefits in klnd NIL NIL NIL NIL Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 13. STAFF COST Staff costs were as follows Year ended Year ended 31-Dec 31-Dec 2023 2022 Wages and salaries Soclal security costs Employers Pensions 11,000 300 11,000 300 144 11,444 144 11,444 Year ended Year ended The average number of employee during the year was as follows 31-Dec 2023 No 31-Dec 2022 No Pastoral 14. Fixed Assets 31-Dec 2023 Cost At l January 2023 Additions At 31 December 2023 Depreciation Accumulated depreciation l January 2023 Charge for the year At 31 December 2023 10,000 10,000 7,936 2,064 10,000 Net book value At 31 December 2023 At 31 December 2022 2,064 Page 13