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2022-12-31-accounts

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 2022

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Contents Page For the year ended 31 December 2022

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 2022

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 2022. 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 charities Main 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:

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:

o The victorious Woman Conference.

o The Chapter Hope in RCCG City of Victory Community Action Project, the church was able to give

food items and daily essential needs to people over cost of living incraese

o 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 2022

o Improving and developing the charity's outreach in the local community as well as online on social media.

o Youth weekly events by Kingdom Elevated Youths initiative

o Pastoral care and support for the all the members.

o Men fellowship through Gideon Special Men initiative

o Children's ministries and events on 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:

ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT

• The Charity, through the departments mentioned above, organises activities, events and meetings to promote its objectives.

• 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.

• The Food Bank, a food distribution service set up for those in need within our community,

this was our efforts in helping the people who are going through financial challenges.

• 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 21st and 23rd of October

  1. The theme was “Lifted Head" and the conference continues to transform and inspire the young and older women to positively impact their various spheres of influence.

• 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 2022

• The organisation continues its renowned Christmas activities namely, Spreading Christmas Cheer and Christmas outreach. These activities are of immense benefits to the public both locally and metropolitan.

• Youth Empowerment Workshop. The church organized 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.

• 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.

• 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.

• 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.

• 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.

• 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).

• 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.

• 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.

OTHER ACTIVITIES

Multicultural Service

The church 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 2022

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 2022

Trusteed Induction and Training

Most trustees are already familiar with the practical work of the charity. Additionally new trusteees are required and encouraged to attend training by the RCCG Central office provides constant training for all RCCG parish trustees and a copy of The A to Z governing a charitable organization Written by PAUL MARTIN is given to the trustees upon their appointment.

Organisational Structure and Decision Making

The church is organised such that the day to day running of the church has been delegated to the parish Pastor and the spiritual leaders. The trustees are consulted on all issues that are material in meet formally and when required to review the church's operations. nature and determine the strategic direction of the charity's affairs. Trustees meet formally and when required to review the church's operations.

Statement of Responsibilities of The Trustees

The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small company's exemption. Approved by the trustees and signed on their behalf by.

Mr Oluwasijibomi O Majekodunmi

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2022

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: 454a High Road Bruce Groove London United Kingdom N17 9JD

Trustees

Trustees Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Joseph Edet Akpan
Mr Timothy Dare Orimakinde
Chair Person Mr Oluwasijibomi Olukayode Majekodunmi
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

Mr Oluwasijibomi O Majekodunmi

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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 2022

I report to the trustees on my examination of the accounts of the charitable company for the period ended 31 December 2022.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Statement of Financial Activities for the year ended 31 December 2022

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 2021
Transfer between funds
Total funds at 31 December 2022		 2022
2021
Unrestricted Restricted
Total
Total
£
£
£
£
65,876
-
65,876
72,258
-
-
-
65,876
-
65,876
72,258
3,500
-
3,500
3,622
42,305
42,305
40,119
16,420
16,420
30,318
-
-
-
62,225
-
62,225
74,059
3,651
-
3,651
(1,801)
5,060
-
5,060
6,861
-
-
-
-
8,711
-
8,711
5,060

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

8

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Balance sheet as at 31 December 2022

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		 £
-
7,513

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 Oluwasijibomi O Majekodunmi

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Notes to the financial statements for the period ended 31 December 2022

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.

Restricted
Unrestricted Fund Fund Total Fund Total Fund
2. Voluntary Income:
Donations 31/12/2022 31/12/2022 31/12/2022 31/12/2021
£ £ £ £
Tithes & Offerings 46,082 - 46,082 43,167
Gift aid claims 11,142 - 11,142 13,320
Building fund 6,151 - 6,151 5,770
Grant 2,500 - 2,500 10,000
65,876 - 65,876 72,258
3. Investment Income £ £ £ £
Bank interest receivable - - - -
- - - -

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Unrestricted Restricted
Fund Fund Total Total
4. Cost of charitable £ £ £ £
activities by fund type 31/12/2022 31/12/2022 31/12/2022 31/12/2021
Adv. The Christian Faith worldwide
4.1 Grants payable - institutions
Word Evangelical Mission 2,900 - 2,900 3,047
RCCG Central office 600 - 600 575
3,500 - 3,500 3,622
4.2 Support cost
Staff costs - wages & salaries 29,542 - 29,542 21,330
Staff costs - social security costs 2,468 - 2,468 1,130
Advert & communication - - - -
Books and publications - - - -
Welfare expenses 3,825 3,825 7,033
Services and events 300 - 300 5,921
Honorarium 2,600 - 2,600 1,475
Insurance 458 - 458 470
Volunteers /Youth department 385 - 385 375
Subscriptions & memberships 731 - 731 876
Music Expenses 1,995 - 1,995 1,509
42,305 - 42,305 40,119
Gen Management
Equipment expensed 1,158 - 1,158 5,266
Depreciation - plant & machinery 1,854 - 1,854 979
Governance costs
Pastor's allowance - - 12,000
Accountancy fees 750 - 750 750
Other professional expenses 235 - 235 -
Premises costs 7218 - 7,218 6,671
Bank charges & interest 1 - 1 25
General travel expenses 2,500 - 2,500 2,246
Postage, stationery & supplies 1153 - 1,153 1,716
Communications cost 1552 - 1,552 665
16,420 - 16,420 30,318
62,225 - 62,225 74,059

5. Net income /(expenditrure) for the period

This is stated after charging /(crediting): Total Total
£ £
31/12/2022 31/12/2021
Legal & Professional Fees 750 750
Bank Charges & Interest 1 25

11

6. Staff costs and emoluments

Total staff costs for the period ended
31-Dec
Salaries and wages
Social security costs		 Total
£
31/12/2022
29,542
2,468
32,011		 Total
£
31/12/2021
21,330
1,130
22,460

7. Trustee remuneration and related party transactions

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022.

Related Party Disclosures

The Redeemed Christian Church of God Global is a connected charity. During the 12 months ended 31 December 2022, 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 machinary 18% - reducing balance

9. FIXED ASSETS

Cost
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net Book Value
At 31 December 2022
At 31 December 2021		 Plant and
machinery
Total
£
£
14,973
14,973
5,837
5,837
20,810
20,810
10,512
10,512
1,854
1,854
12,366
12,366
8,444
8,444
4,461
4,461

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10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank overdraft and credit card
Accruals		 2022
2021
£
£
-
-
750
3,812
750
3,812

11. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

Bounce back Loan 2022
£
6,497
6,497		 2021
£
8,695
8,695
12. MOVEMENT IN FUNDS
At 1 January
Surplus/(Deficit) for the year
At 31st December		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2022
2022
2022
2021
£
£
£
£
5,060
-
5,060
6,861
3,651
-
3,651
(1,801)
8,711
-
8,711
5,060

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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