Charity number: 1158123 Company number: 09094139 (England and Wales)
THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2020
THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Contents Page For the year ended 31 December 2020
| Report of the Trustees | 1 to 5 |
|---|---|
| Independent Examiner's Report to the Trustees | 6 |
| Statement of Financial Activities | 8 |
| Statement of Financial Position | 9 |
| Notes to the Financial Statements | 10 to 13 |
THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY
Report of the Trustees For the year ended 31 December 2020
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the period ended 31 December 2020. The Trustees have adopted the provisions of 2019 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 and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The Charity’s objects are:
The advancement of the Christian religion
The relief of poverty
These objects are charitable and operate for the public benefit. The charity pursues these objectives via its mission statement (connecting Humanity with God and purpose for a victorious life) from its premises at St Matthias Church of England Primary School Wordsworth Road London N16 8DD, London.
In determining how best to pursue these objects the Trustees have given regard to the Charity Commission’s guidance on public benefit.
The Charity's main objectives for the year were:
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The continuous spread of the Christian faith
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Active engagement with the community and our surrounding boroughs
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Significant growth in attendance of all our services.
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Building and developing relationships with other charities in the United Kingdom and around the world and showing our support through various means ( i.e. welfare).
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Developing the charity's web presence, reaching out and engaging with our community of online followers through social media.
The strategies employed to achieve these objectives were:
The Charity’s strategy for achieving this objective for the public benefit and some of the significant activities that contributed to the achievement of these objectives were:
The events and activities organised (during the year) were in line with the charitable objectives to promote the Christian faith and help the less privileged and disadvantaged within the local community and metropolis. include:
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The victorious Woman Conference.
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Youth empowerment project
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The Christmas in the Neighbourhood, which is a community cantered project that provides families/people in need in the community with a Christmas Hamper;
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The Chapter Hope in RCCG City of Victory Community Action Project, the church was able to give food items, daily essential needs and financial supports to the people that were adversity affected by Covid-19 pandemic
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Monthly prayer and inspirational meetings with church members.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2020
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Improving and developing the charity's outreach in the local community as well as online on social media.
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Community initiatives and mission's projects.
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Women monthly prayer meeting every 2nd Friday of the month.
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Women warfare monthly meeting - Every last Sunday of the Month
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Youth weekly events by Kingdom Elevated Youths initiative
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Pastoral care and support for the all the members.
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Men fellowship through Gideon Special Men initiative
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Children's ministries and events
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Father’s day and mother’s day celebration
With over 35 volunteers who support and make an invaluable contribution to the operations of the Charity, some of the key departments include:
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Youth Teams (Kingdom Elevated Youths)
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Victorious Women
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Victorious Voice Choir
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Community Action
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Prayer
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Welfare
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Men’s Ministry
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Service Management Team
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Visitation
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Technical
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Wisdom Club
ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT
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The Charity, through the departments mentioned above, organises activities, events and meetings to promote its objectives.
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The Charity continues to impact lives locally and across the City of London by delivering food items and daily essential to the people that are in isolation.
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The Food Bank, a food distribution service set up for those in need within the Hackney and surrounding boroughs operates out of our church premises through the help of Hackney Council and national lottery.
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Essential Box distribution, that charity was able to distributes Essential Box to the people that were in isolation, elderly people, people that were sick and those that were out of job during the pandemic.
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The victorious Woman Conference is an Annual Women’s Conference that has continued to experience a significant growth, held at RCCG City of Victory between 22[nd] and 25th of October 2020. The theme was “Glory Again” and the conference continues to transform and inspire the young and older women to positively impact their various spheres of influence.
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The City of Victory Men’s ministry holds periodical meetings within the year, where men are encouraged to grow in every area of their lives (to name a few: in faith, family, finance, to be good role-models in society etc).
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2020
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The organisation continues its renowned Christmas activities namely, Spreading Christmas Cheer and Christmas Lunch on Jesus. These activities are of immense benefits to the public both locally and metropolitan.
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Youth Empowerment Workshop. The church organised a day youth workshop for the youths in the community, featuring; Crime Prevention, Youth Expectations Parental Relationship, Building Confidence, Exclusion & Expulsion: What Parents and Youths need to know.
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Pastoral Care . As part of their pastoral remit, our ministers and Pastors look after the spiritual wellbeing of the members and adherents at the church, and this would include the regular conduct of christening ceremonies, visiting elderly people and delivery of communion elements to the members.
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Volunteers Meeting . The church continues to hold our family services every Sunday and mid-week services every Tuesday and Thursday. We have included a volunteers meeting, and prayer session before the Sunday services.
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Special Thanksgiving. The church holds yearly thanksgiving where everyone comes to dance and celebrate the protection of God upon the family, every first Sunday of the year.
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The church has included the children choir and they also get to minister in the adult church which helps to build and encourage YOUNG TALENTS.
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The teenagers are continuously empowered with improved skills as they feature in most departments in the CHURCH i.e., instruments, weekly setting up of the church, ushering, Sunday school, choir etc. (They are very eager to start their services all by themselves).
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A special welfare and benevolence Sunday is held annually. This service highlights the importance of supporting the benevolence initiative held by the charity and encourages people to show regular financial support. It also showcases the various ways the benevolence funds are used to make a difference in the lives of the church and local communities.
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The Church also encourages its members to support the National Charity programs i.e.The Red Nose day etc in their different work/daily involvement.
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Virtual service. The church we are to ministered to the members virtually via Zoom during the lockdown
OTHER ACTIVITIES
Multicultural Service
The holds a multicultural Sunday service once a year to promote and promote Equality among the members, this allows everyone to dress and display their preferred culture in a very exciting way. We believe this will in turn foster unity among the children even as they grow.
A special welfare and benevolence Sunday is held annually. This service highlights the importance of supporting the benevolence initiative held by the charity and encourages people to show regular financial support. It also showcases the various ways the benevolence funds are used to make a difference in the lives of the church and local communities.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2020
Believers Class
The charity dedicates the first 30 minutes of Sunday meeting for four weeks to train members, New members in the biblical principles of Christian living. Leadership and volunteer development materials are used for the benefit of all.
Small Groups.
Regular weekly meetings in various communities around Hackney made up of families and individuals. Creates a space for people to share their life experiences, pray for one another and get to know each other better.
The organisation ends the year with a series of services such as the Christmas Carol and the New Year Eve services. This is to share the good news of the gospel with its local community.
PLANS FOR FUTURE PERIODS
The charity plans to continue the activities outlined above in the forthcoming years and will continue to develop the infrastructure required to support the charity. The Charity continues to explore ways of furthering its charitable objectives in an effective manner by ensuring there is awareness of its services and proactively seeking opportunities to be more involved in the community. The Charity seeks to provide services and activities that meet the needs of people in the community. These activities provide a positive change in the moral and spiritual climate of the local borough which reflects the charity’s Christian ethos and beliefs.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY
Report of the Trustees Continued For the year ended 31 December 2020
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity: THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Charity registration no : 1158123 Company registration no: 9094139 Principal address: 64 Willoughby Lane RCCG Church Office Suite 32 Imperial House London N17 0SP
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Joseph Edet Akpan Mr Adekunle Adekoya Mr Timothy Dare Orimakinde Secretary Mr Olatade Amos (Previously known as Sunday Ogunlowo) Independent examiners Mr Abiodun Oyewole FCCA Gabriel Christopher & Co Chartered Certified Accountants Suite 13 Forest House 8 Gainsborough Road London E11 1HT Bankers Barclays Bank 1 Churchill Place Canary Wharf London E14 5HP
Approved by the Board of Trustees and signed on its behalf by
AdekunleAdekoya 17/06/2021 Mr. Adekunle Adekoya
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY
Independent Examiners Report to the Trustees For the year ended 31 December 2020
I report to the trustees on my examination of the accounts of the charitable company for the period ended 31 December 2020.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A G Oyewole FCCA
Chartered Certified Accountants Suite 13, Forest House 8 Gainsborough Road London E11 1HT
18 June 2021
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Statement of Financial Activities for the year ended 31 December 2020
| Notes Incoming Resources Incoming resources from generated funds: Voluntary income: donations 2 Investment 3 Total Incoming Resources Resources Expended Charitable expenditure Grants payable - institutional 4.1 Support costs 4.2 Management and governance costs: 4.3 Total Resources expended Net Incoming/(Outgoing) Resources for the year Total funds at 1 January 2020 Transfer between funds Total funds at 31 December 2020 |
2020 2019 Unrestricted Restricted Total Total £ £ £ £ 51,003 - 51,003 51,550 1 - 1 3 |
|---|---|
| 51,004 - 51,004 51,553 |
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| 2,375 - 2,375 2,915 29,078 29,078 32,303 10,599 10,599 18,337 - - - |
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| 42,052 - 42,052 53,555 |
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| 8,952 - 8,952 (2,002) (2,002) - (2,002) - - - - - |
|
6,950 - 6,950 (2,002) |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Balance sheet as at 31 December 2020
| Balance sheet as at 31 December 2020 | ||||
|---|---|---|---|---|
| Notes FIXED ASSETS Tangible Fixed Assets 9 CURRENT ASSETS Debtors Cash in Hand/ Bank CREDITORS: Amount falling due within a year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amount falling due more than a year 11 NET ASSETS ACCUMULATED FUNDS Restricted 14 Unrestricted 12 TOTAL FUNDS |
£ - 15,993 |
2020 £ 1,606 |
39 2,049 |
2019 £ 1,178 |
| 1,606 15,254 |
1,178 (3,269) |
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| 15,993 (738) |
2,088 (5,357) |
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| 16,861 (10,000) |
(2,091) - |
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| 6,861 | (2,091) | |||
| - 6,861 |
- (2,091) |
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| **6,861 ** | (2,091) |
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 and Signed on their behalf:
Mr Adekunle Adekoya: AdekunleAdekoya 17/06/2021 Trustee
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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Notes to the financial statements for the period ended 31 December 2020
ACCOUNTING POLICIES
1.1 Basis of preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards. They follow best practice as set out in the statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.
1.2 Income and
Expenditure Income and expenditure are accounted for on accrual basis
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.
Unrestricted funds are incoming resources received for the objects of the charity without further specific purpose and are available as general funds.
| 2. Voluntary Income: Donations Tithes & Offerings Gift aid claims Building fund Grant 3. Investment Income Bank interest receivable |
Unrestricted Fund Restricted Fund Total Fund Total Fund 2020 2020 2020 2019 £ £ £ £ 29,833 - 29,833 39,018 - - - 12,532 980 - 980 - 20,190 - 20,190 - |
|---|---|
| 51,003 - 51,003 51,550 |
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| £ £ £ £ 1 - 1 3 |
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| 1 - 1 3 |
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| Unrestricted | Restricted |
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|---|---|---|---|---|
| Fund | Fund | Total | Total | |
| 4. Cost of charitable | £ | £ | £ | £ |
| activities by fund type | 31-12-20 | 31-12-20 | 31-12-20 | 31-12-19 |
| Adv. The Christian Faith worldwide | ||||
| 4.1 Grants payable - institutions | ||||
| Word Evangelical Mission | 2,000 | - | 2,000 | 2,915 |
| RCCG Central office | 375 | - | 375 | - |
| 2,375 | - | 2,375 | 2,915 | |
| 4.2 Support cost | ||||
| Staff costs - wages & salaries | 21,118 | - | 21,118 | 7,583 |
| Staff costs - social security costs | 440 | - | 440 | 659 |
| Advert & communication | 137 | - | 137 | 1,648 |
| Books and publications | 186 | - | 186 | 106 |
| Welfare expenses | 2,940 | 2,940 | 2,315 | |
| Services and events | 3,216 | - | 3,216 | 3,802 |
| Honorarium | 800 | - | 800 | 790 |
| Insurance | 242 | - | 242 | - |
| Pastor's allowance | - | - | - | 14,995 |
| Subscriptions & memberships | - | - | - | 10 |
| Staff training & welfare | - | - | - | 395 |
| 29,078 | - | 29,078 | 32,303 | |
| Gen Management | ||||
| Equipment expensed | 1,309 | - | 1,309 | 795 |
| Depreciation - plant & | ||||
| machinery | 353 | - | 353 | 2,481 |
| Governance costs | ||||
| Accountancy fees | 1,400 | - | 1,400 | 1,524 |
| Premises costs | 4911 | - | 4,911 | 10,243 |
| Bank charges & interest | 434 | - | 434 | 1,375 |
| General travel expenses | 404 | - | 404 | 1,827 |
| Postage, stationery & supplies | 869 | - | 869 | 32 |
| Communications cost | 920 | - | 920 | 60 |
| 10,599 | - | 10,599 | 18,337 | |
| 42,052 | - | 42,052 | 53,555 |
5. Net income /(expenditure) for the period
| This is stated after charging /(crediting): | Total | Total |
|---|---|---|
| £ | £ | |
| 31-12-20 | 31-12-19 | |
| Legal & Professional Fees | 1,400 | 1,524 |
| Bank Charges & Interest | 434 | 1,375 |
| 10 |
6. Staff costs and emoluments
| Total staff costs for the period ended 31 Dec Salaries and wages Social security costs |
Total £ 31-12-20 21,118 440 21,558 |
Total £ 31-12-19 7,583 659 |
|---|---|---|
| 8,242 |
7. Trustee remuneration and related party transactions
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020.
Related Party Disclosures
The Redeemed Christian Church of God Global is a connected charity. During the 12 months ended 31 December 2020, Mission giving, gifts & welfare included donations to The Redeemed Christian Church of God Global for its World Evangelism Mission (WEM) of £2,000.
8. DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
18% - reducing balance
9. FIXED ASSETS
| Cost At 1 January 2020 Additions At 31 January 2020 Depreciation At 1 January 2020 Charge for the year At 31 January 2020 Net Book Value At 31 December 2020 At 31 December 2019 |
Plant and machinery Total £ £ 10,358 10,358 781 781 |
|---|---|
| 11,139 11,139 |
|
| 9,180 9,180 353 353 |
|
| 9,533 9,533 |
|
| 1,606 1,606 |
|
| 1,178 1,178 |
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| 10. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR Bank overdraft and credit card Accruals 11. CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR Bounce back Loan |
2020 £ 118 620 738 2020 £ 10,000 10,000 |
2019 £ 5,357 - |
|---|---|---|
| 5,357 | ||
| 2019 £ - |
||
| - |
12. MOVEMENT IN FUNDS
| 12. MOVEMENT IN FUNDS At 1 January Surplus/(Deficit) for the year At 31st December |
Unrestricted Restricted Total Total Funds Funds Funds Funds 2020 2020 2020 2019 £ £ £ £ (2,091) - (2,091) (89) 8,952 - 8,952 (2,002) |
| 6,861 - 6,861 (2,091) |
13. UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
14. RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
.
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