## redeemed Christian church of god
## Fountain of prayer
## Reports and accounts
For the year ended 31st march, 2021
Charitable Company registration No: 08963684
Charity Number: 1158019
## **REDEEMED CHRISTIAN CHURCH OF GOD - FOUNTAIN OF PRAYER**
## **TRUSTEES/DIRECTORS ANNUAL REPORT**
## **For the year ended 31[st] March, 2021**
## **Chairman’s Report**
The Trustees are pleased to present their Annual Directors’ report together with the financial statements of the charity for the year ending 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102).
As a charity registered in England and Wales, the charitable company also reports in accordance with the Charity Commission for England and Wales guidance on public benefit and the Charities Act 2011. The charity “Church” has an income of £52,702 and £47529 expenditure for the financial year.
## **Our Purposes and Activities**
The purposes of the charity are:
- The advancement of the Christian faith worldwide in accordance with the doctrines set out in the Statement of Faith
- The relief of poverty
Our activities include:
- Church programmes and activities
- Worship
- Youth empowerment activities
- Welfare package to assist the less privileges
- Children programmes
## **Directors and Trustees**
The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The
Trustees and officers serving during the year and since the year ended were as follows:
- Mrs Olufunmi Akintujoye
- Mrs Esther Shokoya
- Mr Princewell Omagbemi
## **Risk Management**
Appropriate measures are maintained during and after church programmes to ensure risks are monitored thereby during the year leading to nil record of any major or minor risk event.
Olufunmilayo Akintujoye
O.AKintujoye
Chairman
## **REDEEMED CHRISTIAN CHURCH OF GOD - FOUNTAIN OF PRAYER**
## **ACCOUNTANT REPORT**
## **For the year ended 31[st] March, 2021**
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties to HM Revenue and Customs, Charity Commission and any other relevant authority that relate to preparing the financial statements of the charitable company for the year ended 31[st] March, 2021.
We have prepared these finance statements based on the accounting records, information and explanations provided by the charity. We do not express any opinion on the financial statements.
On the financial statement you have acknowledged your duties to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year 2020/2021 in accordance with section 476 of the Act
## **OLADELE BAKARE (MBA, FCA, ACTI, FFA, MIPA, ANIM)**
## **BO & Co Accountants Ltd**
## **Accountant**
**Date: 22[nd] October, 2021**
## **The Redeemed Christian Church Of God - Fountain Of Prayer Receipt and Payment Account**
**For the year ended 31 March, 2021**
|**Incoming Resources**
**NOTES**
**Donations and other Income**
Tithes and offering
HMRC: Gift aid
Other income
**Total Incoming resources**
**Direct Charitable expenses**
Donations and grants
Tapes and books
Travel expenses
Ministry costs
Children's ministry
Pastoral expenses
Honorarium
**Fundraising and publicity**
**Premises costs**
**Governance cost**
**Total Resources expended**
Deficit/Surplus
**Exceptional items**
Profit on disposal of tangible assets
Profit on disposal of investments
**Net incoming resources**
Balance for the year|**Restricted**
**Unrestricted**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
13,934
66,243
21,467
38,768
9,586|
|---|---|
||- -
52,702
97,296|
||213
1,566
1,085
2,500
21,820
565
12,000
9,073|
||- -16,066
32,756|
||-
30,154
31,134
1,309
30,356|
||- -31,463
61,490|
|||
||- 47,529
94,246|
|||
||- -5,173
3,050|
||- - -
-
- - -
-|
||-
5,173
3,050|
**Net incoming resources** Balance for the year Fund balances brought forward
|Fund balances carried forward
**The Redeemed Christian Church Of God - Fountain Of Prayer**
**Balance Sheet**
**As at 31 March, 2021**
**Fixed Asses**
**Notes**
Tangible assets
7
**Current Assets**
Cash at bank and in hand
Debtors & Prepayment
8
**Creditors: Amount due within**
**one year**
9
**Net Current Assets**
**Total assets less current liabilities**
**Creditors: Amount due more than**
**one year**
**Net Assets**
**Funds**
Restricted
10
Unrestricted
10|-|-|5,173|3,050|
|---|---|---|---|---|
||**£**
51,137
4,026|**2021**
**£**
10|**£**
64,368|**2020**
**£**
10|
|||10
||10|
||55,163||64,368
496||
||||||
|||55,173||63,882|
|||55,173||63,882|
|||50,000
5,173||60,832
3,050|
|||55,173||63,882|
The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under section 477 of companies Act 2006 and that the members have not required the organisation to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge responsibilities for complying with the requirements of Charity Commission with respect to accounting records and the preparation of accounts.
Peter Agbedejobi Minister, Accounts Approved by the board on 20th October, 2021
## **The Redeemed Christian Church Of God - Fountain Of Prayer**
## **Notes to the Accounts**
## **For the year ended 31 March, 2021**
## **1. Accounting Policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with the provisions of the Charities Commission 1993 and the Charities (Accounts and Reports) Regulations promulgated thereunder and the statements of Recommended Practice issued by the Charity Commission.
**Unrestricted funds** represent funds which are expendable at the discretion of the trustees in furtherance of the objects of the church and are held in the general fund
**Restricted Funds** represent grants and donations received and tax refunds arising thereon, which were allocated by the donor for the specific purposes.
## **Direct Charitable expenditure**
Direct Charitable expenditure includes all expenditure which is direectly related to the objects of the charity and comprises grants paid and costs which are directly attributable to charitable activities including charitable support costs.
## **Management and administration costs**
Management and administration costs represent expenditure incurred in the management of the assets of the charity, organisational administration and compliance with constitutional and other statutory requirements. None of the trustees received any renumeration, nor were paid expenses in the year ended 31/03/2021.
## **Grants and donations**
There were no accruals for these items at the year end
## **Depreciation**
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor Vehicle 10% reducing balance Furniture & Fittings 10% reducing balance Equipment & instrument 5% reducing balance
## **2. Incoming Resources**
These are recognised in full in the statement of Financial Activities in the period in which these are received.
## **3. Direct charitable expenditure**
These comprises all expenditure directly related to the objects of the charity. It also includes expenditure in support of such activity where material.
## **4. Fundraising and publicity**
|Promotional activities|**2021**
**2020**
**£**
**£**
-
-|
|---|---|
||-
-|
**The Redeemed Christian Church Of God - Fountain Of Prayer Notes to the Accounts (contd.) For the year ended 31 March, 2021**
## **5. Premises cost**
|Premises cost and interest
Repairs and maintenance
**6. Governance costs**
Payroll & other administrative costs
Printing, postage and stationery
Bank charges
Accountancy fees
Telephone
Sundry expenses/Training & Development
Depreciation|**2021**
**2020**
**£**
**£**
30,154
28,541
-
2,593|
|---|---|
||30,154
31,134|
||**2021**
**2020**
**£**
**£**
19,600
1,131
176
800
2,319
1,123
2,304
4,192
10
10|
|**7. Tangible fixed assets**
**Cost**
At 1st April, 2020
Additions during the year
At March, 2021
**Depreciation**
At 1st April, 2020
Charged for the year
At March, 2021
**Net book value**
At March, 2021
At 1st April, 2020|**Motor Equipment**
**Vehicle**
**&**
**instrument**
**£**
**£**
- -|1,309
30,356|
|---|---|---|
|||**Furnitire &**
**TOTAL**
**Fittings**
**£**
**£**
-
-|
||- -|-
-|
||- 10
-|-
10
-|
||-10|-
10|
||||
||- - 10|-
- 10|
||||
||- -10|-
-10|
**The Redeemed Christian Church Of God - Fountain Of Prayer Notes to the Accounts (contd.) For the year ended 31 March, 2021**
## **8. Debtors & prepayments**
|Debtors
Other debtors & prepayments
Amount due more than one year|**2021**
**2020**
**_£_**
**£**
4,026
-|
|---|---|
||4,026
-|
||-
-|
## **9. Creditors & Accruals**
|Amount due within one year
Creditors
Accruals|**2021**
**2020**
**£**
**£**
-
496|
|---|---|
||-
496|
## **10. Funds**
|**10. Funds**||
|---|---|
|At 1st April, 2020
Net incoming resources
At 31st March, 2021|**Restricted**
**Restricted**
**Unrestricted Unrestricted**
**2021**
**2020**
**2021**
**2020**
**£**
**£**
**£**
**£**
-
50,000 60,832
5,173
3,050|
||50,000 60,832
5,173
3,050|
## **The Redeemed Christian Church Of God - Fountain Of Prayer**
## **Independent Examiner's Report For the year ended 31 March, 2021**
I report on the accounts for the year ended 31st March, 2021 which are set out on pages 2 to 6.
## **Respective responsibilities of trustees and examiner**
The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examiner is needed.
It is my responsibility to:
1. Examine the books of account (under section 43 of the Act)
2. To follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act, and
3. To state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out 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 includes consideration of any unusual items or disclosure in the accounts, 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 statement below.
## **Independent examiner's statement**
In the course of my examination, no matter has come to my attention;
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance 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.
Oladele Bakare
BO & Co Accountants Ltd