THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF WATER
Charity reg. no: 1155097
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 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 2024
| 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 2024
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 2024. 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 2024
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 2024
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.
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THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
TRUSTEES' REPORT
FOR YEAR ENDED 31 DECEMBER 2024
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 2025 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 2024
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 2024 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 - 2025
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 2024
| Unrestricted Funds Notes 2024 Incoming resources £ Donations & incoming resources 58,114 Interest Received - Grants received - Total incoming resources 58,114 Resources expended Grants payable - individuals 350 Grants payable - institutional 4,746 Cost of activities in furtherance of charity's objects 26,250 Management and governance cost 1,375 Total resources expended 32,721 Net(outgoing)/incoming resources for the year 25,393 Total funds at the start of the year 41,258 Balance at the end of the year 66,651 |
Unrestricted Funds Notes 2024 Incoming resources £ Donations & incoming resources 58,114 Interest Received - Grants received - Total incoming resources 58,114 Resources expended Grants payable - individuals 350 Grants payable - institutional 4,746 Cost of activities in furtherance of charity's objects 26,250 Management and governance cost 1,375 Total resources expended 32,721 Net(outgoing)/incoming resources for the year 25,393 Total funds at the start of the year 41,258 Balance at the end of the year 66,651 |
Restricted Funds 2024 £ - - - |
Total Total Funds Funds 2024 2023 £ £ 58,114 41,852 - - - - 58,114 41,852 350 - 4,746 704 26,250 29,584 1,375 700 32,721 30,988 25,393 10,864 43,868 33,004 69,261 43,868 |
|---|---|---|---|
| 58,114 | - | ||
| 350 4,746 26,250 1,375 |
- - - - |
||
| 32,721 | - | ||
| 25,393 41,258 |
- 2,610 |
||
| 66,651 | 2,610 |
Page 8
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
BALANCE SHEET AS AT 31 DECEMBER 2023
| 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 2024 2024 £ £ 3,450 - 46,939 37,346 19,900 7,500 66,839 44,846 1,028 978 69,261 43,868 2,610 2,610 66,651 41,258 69,261 43,868 |
|---|---|
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 2025 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 2024
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 2024 £ 58,114 - |
Restricted Funds 2024 £ - - - £ - £ - £ - - - £ - - - - |
Total Total Funds Funds 2024 2023 £ £ 58,114 41,852 - - |
|---|---|---|---|
| 58,114 | 58,114 41,852 |
||
| £ - |
£ £ - - |
||
| £ 350 |
£ £ 350 - |
||
| £ 4,746 - |
£ £ 4,746 704 - - |
||
| 4,746 | 4,746 704 |
||
| £ 3,630 380 736 |
£ £ 3,630 - 380 - 736 704 |
||
| 4,746 | 4,746 704 |
Page 10
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2024
| Unrestricted Restricted Funds Funds 2024 2024 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ Worship cost 651 - Staff cost 10,986 - Hall hire, rent & rates 4,900 - Printing & stationery - - Visiting minister's expenses & Community pr 1,352 - Music & liturgy 366 - Mission & evangelism 4,095 - Vehicle running - - Office & telephone expenses 96 - Welfare & hospitality 949 - Depreciation 1,150 - Other mission costs & church group 1,517 - Travel & subsistence - - IT Consumables 187 - Building Repairs - - 26,250 - 6. MANAGEMENT AND GOVERNANCE COSTS Unrestricted Restricted Funds Funds £ £ Professional fees 625 - Examiner's fees - accountancy 750 - 1,375 - 7. CASH BALANCES Cash & bank |
Unrestricted Restricted Funds Funds 2024 2024 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ Worship cost 651 - Staff cost 10,986 - Hall hire, rent & rates 4,900 - Printing & stationery - - Visiting minister's expenses & Community pr 1,352 - Music & liturgy 366 - Mission & evangelism 4,095 - Vehicle running - - Office & telephone expenses 96 - Welfare & hospitality 949 - Depreciation 1,150 - Other mission costs & church group 1,517 - Travel & subsistence - - IT Consumables 187 - Building Repairs - - 26,250 - 6. MANAGEMENT AND GOVERNANCE COSTS Unrestricted Restricted Funds Funds £ £ Professional fees 625 - Examiner's fees - accountancy 750 - 1,375 - 7. CASH BALANCES Cash & bank |
Unrestricted Restricted Funds Funds 2024 2024 5. COST OF ACTIVITIES IN FURTHERANCE OF CHAR £ £ Worship cost 651 - Staff cost 10,986 - Hall hire, rent & rates 4,900 - Printing & stationery - - Visiting minister's expenses & Community pr 1,352 - Music & liturgy 366 - Mission & evangelism 4,095 - Vehicle running - - Office & telephone expenses 96 - Welfare & hospitality 949 - Depreciation 1,150 - Other mission costs & church group 1,517 - Travel & subsistence - - IT Consumables 187 - Building Repairs - - 26,250 - 6. MANAGEMENT AND GOVERNANCE COSTS Unrestricted Restricted Funds Funds £ £ Professional fees 625 - Examiner's fees - accountancy 750 - 1,375 - 7. CASH BALANCES Cash & bank |
Year ended Year ended Total Total Funds Funds 2024 2023 £ £ 651 221 10,986 11,444 4,900 4,500 - - 1,352 1,450 366 745 4,095 4,565 - 754 96 256 949 1,725 1,150 2,064 1,517 713 - 53 187 694 - 400 |
|---|---|---|---|
| 26,250 | - | 26,250 29,584 |
|
| Unrestricted Funds £ 625 750 |
Restricted Funds £ - - |
Year ended Year ended 31-Dec 31-Dec 2024 2023 £ £ 625 - 750 700 |
|
| 1,375 | - | 1,375 700 |
|
| Year ended Year ended 31-Dec 31-Dec 2024 2023 £ £ 46,939 37,346 |
|||
| 46,939 37,346 |
Page 11
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2024
8. DEBTORS
| 8. DEBTORS Other debtors 9. CREDITORS World Evangelism Mission Nest Pensions - Accrued pensions Accrued accountancy fees |
Year ended Year ended 31-Dec 31-Dec 2024 2023 £ £ 19,900 7,500 |
| 19,900 7,500 |
|
| Year ended Year ended 31-Dec 31-Dec 2024 2023 £ £ - - 278 278 750 700 |
|
| 1,028 978 |
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)
| This is stated after charging Accountant's fees 12. TRUSTEES RENUMERATION During the year, no trustee received any remuneration During the year, no trustee received any benefits in kind |
Year ended Year ended 31-Dec 31-Dec 2024 2023 £ £ 750 700 |
|---|---|
| Year ended Year ended 31-Dec 31-Dec 2024 2023 NIL NIL NIL NIL |
Page 12
THE REDEEMED CHRISTIAN CHURCH OF GOD
RIVERS OF WATER
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2024
| 13. STAFF COST Year ended Staff costs were as follows 31-Dec 2024 £ 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 2024 No Pastoral 1 14. Fixed Assets Cost At 1 January 2024 Additions At 31 December 2024 Depreciation Accumulated depreciation 1 January 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Year ended 31-Dec 2023 £ 11,000 300 144 |
|---|---|
| 11,444 | |
| Year ended 31-Dec 2023 No 1 31-Dec 2024 £ 10,000 4,600 |
|
| 14,600 | |
| 10,000 1,150 |
|
| 11,150 | |
| 3,450 | |
| - |
Page 13