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← The Redeemed Christian Church Of God, Strong Tower Fountain Of Hope And Excellence

2024-12-31-accounts

Registered charity number : 1155722

THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Financial Statements for the Year Ended 31 December 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Reports of the Trustees for the year ended 31 December 2024

Administrative Information:

The Redeemed Christian Church of God: Strong Tower Foundation of Hope and Excellence is part of The Redeemed Christian Church of God (UK) a national church organisation in the United Kingdom.

Address

10 Amos Avenue Manchester M40 2RJ.

Board of Trustees

Pastor Olusola Ajayi Pastor 'Bosola Ogunsola (Chairman) Mr Kingsley Oloruntosin Kuku-Ogunfeibo Ms Kehinde Olufunso Ajumobi

Pastor-in-Charge

Pastor Olusola Ajayi

Banker

HSBC UK Bank plc 1 Centenary Square Birmingham B1 1HQ

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Reports of the Trustees continued

Aims and purpose

The strategic objectives of the Redeemed Christian Church of God (RCCG), Strong Tower Fountation of Hope and Excellence are directly linked to its aims. They are:

  1. Worship and Prayer - learning about the Gospel through periodic bible study and increasing awareness of God’s presence by spreading His love.

  2. Service - provision of pastoral care for the people living in the community.

  3. Missionary activities - developing confidence in evangelism and in capacity to spread of God and faith to all.

Objective and activities

The church is actively engaged in collaboration with local churches and organisations as an expression of its added community services.

Structure, governance and management

Thee was no change in the composition of the board of trustees in the year. The board met regularly and set the direction and policy framework for the Church. The board also put in place the process for reviewing, evaluating and implementing appropriate risk management framework.

Risk management

The trustees actively review the major risks which the charity faces on a regular basis. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Financial review

Total income during the year was £33,645 (2023: £27,677), an increase of 21% over 2023. The income of the church has returned to the expected range after last year. The total expenditure was £26,629 (2023: £ 18,602) a 43% increase against last year. Overall, the church fund stood at a positive balance of £49,398.

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Accounting Policies

a) Basis of accounting

The financial statements are prepared in accordance with the Charities Statement of Recommended Practice (SORP). The statement of financial activities (SOFA) is presented in columns for general fund and endowment capital, showing the net incoming resources, resources expended, and all other recognised gains and losses in the appropriate column.

The financial statements are also prepared in accordance with the historical cost convention. They comply with all applicable United Kingdom law and accounting standards.

b) Incoming resources

Donations, contributions and legacies are accounted for when entitlement has been confirmed, the amount can be measured accurately and receipt is certain.

c) Resources expended

All resources expended are accounted for on an accrual basis. Any ensuing liabilities are recognised as soon as constructive obligation arises.

d) Funds

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity.

Restricted funds are funds which are to be used in accordance with specific instructions imposed by donors or which have been raised by the trustees’ particular purpose. The cost of raising and administering such funds are charged against specific fund.

e) Depreciation

Depreciation on fixed assets is charged so as to write off their full costs less estimated residual value over their expected useful lives at the following rates:

Computer equipment Motor vehicle

50% straight line 25% straight line

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THE REDEEMED CHRISTIAN CHURCH OF GOD:

STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Statements of Financial Activities for the year ended 31 December 2024

**Unrestricted ** Restricted Total
Fund Fund 2024 2023
Incoming resources Notes £ £
Voluntary incomes 1 33 645 0 33 645 27 677
Other income 0 0 0 0
Total incoming resources 33 645 0 33 645 27 677
Resources expended
Church activities 2 26 629 0 26 629 18 602
Fund raising 0 0 0 0
Total resources expended 26 629 0 26 629 18 602
Net incoming/(Outgoing) resources
before transfers 7 017 0 7 017 9 075
Gross transfers between funds 0 0 0 0
Net incoming/(Outgoing) resources after transfers
and before other recognised gain/loss 7 017 0 7 017 9 075
Gain/(loss) on revaluation and disposal of
investment assets 0 0 0 0
Net movement in funds 7 017 0 7 017 9 075
Total funds b/f at 1 January 2024 42 382 0 0 33 307
Total funds c/f at 31 December 2024 49 398 0 49 398 42 382

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Balance sheet at 31 December 2024

Notes
2024
£
Fixed assets
Tangible assets
4
0
Current assets
Prepayment
5
4 750
Cash at bank and in hand
6
44 649
49 398
Creditors: amounts falling due within one year
0
Net current assets
49 398
Total assets less current liabilities
49 398
Funds of the Charity
Unrestricted fund
7
49 398
Restricted fund
0
Total Funds carried forward
49 398		 2023
£
0
2 470
35 659
38 129
0
38 129
38 129
42 382
0
42 382

Approved by the Board of Trustees on 08 October, 2025 and signed on their behalf by

Bosola Ogunsola

Pastor 'Bosola Ogunsola Chair, Board of Trustees

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Notes to the Financial Statements for the year ended 31 December 2024

1. Incoming resources Unrestricted Restricted
Total
Fund
Fund
2024
2023
£
£
Tithes
Offering
Thanksgiving		 18956 75
0 00
18 956 75
16 065 11
13792 61
0 00
13 792 61
8 650 44
896 02
0 00
896 02
0 00
Gift aid
2. Resources expended
Rent
Allowance
Conference and training
Honorarium
Repairs and renewals
Insurance
Telephone and communication
Stationery/Administrative expenses
Hospitality/Welfare
Transport and travelling
Legal/professional fees
Accounting fee
Bank and financial charges
Remittances to Central Office		 0 00
0 00
0 00
2961 28
33 645 38
0 00
33 645 38
27 676 83
6 000 00
0 00
6 000 00
6 000 00
3 800 00
0 00
3 800 00
3 249 12
0 00
0 00
0 00
3 490 00
100 00
0 00
100 00
100 00
0 00
0 00
0 00
488 70
0 00
0 00
0 00
0 00
893 66
0 00
893 66
993 26
426 64
0 00
426 64
522 95
10 811 31
0 00
10 811 31
1 650 00
1 369 56
0 00
1 369 56
895 99
0 00
0 00
0 00
0 00
480 00
0 00
480 00
400 00
60 00
0 00
60 00
67 20
2687 36
0 00
2687 36
745 00
26 628 53
0 00
26 628 53
18 602 22

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Notes to the Financial Statements for the year ended 31 December 2024

3. Net incoming/(Outgoing) resources
This is stated after charging:
Depreciation
Accountancy service		 2024
2023
£
£
0
0
480
360
4. Tangible fixed assets
Cost:
At 1 January 2024
Addition
At 31 December 2024
Depreciation:
At 1 January 2024
Addition
At 31 December 2024
Net book value:
At 01 January 2024
At 31 December 2024		 2024
2023
£
£
Computer
Equipment &
Other
Computer
Equipment &
Other
£
£
800
800
0
0
800
800
800
600
0
200
800
800
0
0

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Notes to the Financial Statements for the year ended 31 December 2024

2024 2023
5. Prepayment
Rent Church office
Debtors		 £
1 044
3 706
4 750
£
0
44 649
44 649
£
42 382
0
7 017
49 398		 £
1 044
1 426
2 470
6. Cash and Bank
Savings account
Current account		 £
0
35 659
35 659
£
33 307
0
9 075
42 382
7. Funds of the Charity
Opening balance
Prior year adjustments
Unrestricted

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THE REDEEMED CHRISTIAN CHURCH OF GOD: STRONG TOWER FOUNTAIN OF HOPE AND EXCELLENCE

Independent Examiner's Report to the trustees of RCCG Strong Tower Fountation of Hope and Excellence

I report on the accounts for the year 31 December, 2024 which are set out on pages 5 to 9.

Respective responsibilities of trustees and examiner

The Church's trustees are responsibilities for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

examine the accounts (under section 145 of the CharitiesAct),

to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 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 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 include consideration of any unusual items or disclosures in the accounts, and seeking explanations from trustees concerning any such matters. The procedures undertaken do not provide all the evidence that be required in an audit, and consequently no opinion is given as to whether the accounts presents a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In the course of my examination, no matter has come to my attention:

  1. which give me reasonable cause to believe that in, any material respect, the requirements a. to keep accounting records in accordance with section 130 of the Charities Act; and b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act; have not been met; or

  2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Matthew Odu

Practical Advice Consulting Limited 1000 Great West Road, Brentford London. TW8 9DW.

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