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← The Redeemed Christian Church Of God, City Of Victory

2024-12-31-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 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Contents Page For the year ended 31 December 2024

Report of the Trustees 1 to 5
Independent Examiner's Report to the Trustees 7
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 2024

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 2024. 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:

Strategies employed to achieve these objectives included:

Organising events and activities aligned with the charity’s objectives to promote the Christian faith and support disadvantaged people in the local community and wider metropolis.

Key events included:

o The victorious Woman Conference.

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2024

o Youth weekly events by Kingdom Elevated Youths initiative

o Pastoral care and support for the all the members.

o Men fellowship through the Gideon Special Men initiative

o Children’s ministries, including Father’s Day and Mother’s Day celebrations

With over 40 volunteers contributing significantly to the operations of the charity, key departments include:

ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT

Key Achievements in 2024

City of Victory Church - Key Achievements in 2024

1. Youth Workshop – Theme: "Metamorphose"

This initiative equipped over 80 young people with tools for personal transformation, spiritual growth, and leadership development. Through interactive sessions, worship, and motivational talks, participants reported increased confidence, stronger faith, and greater readiness to contribute positively to society.

Impact: Empowered young people to develop resilience, vision, and leadership skills that will benefit both their personal lives and the wider community.

2. Multicultural Service for Community Unity

A celebratory service brought together individuals from diverse cultural backgrounds, showcasing performances, traditional attire, and shared meals. The event promoted inclusivity and built mutual respect across different ethnic groups.

Impact: Strengthened community cohesion and improved intercultural understanding, fostering unity within both the church and the wider community.

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2024

3. Community Christmas Party

The Christmas celebration included carols, games, children’s gifts, and a communal meal. More than 200 attendees enjoyed a joyful, inclusive atmosphere during the festive season.

Impact: Reduced social isolation, especially for vulnerable individuals and families, and created lasting memories of warmth and togetherness.

4. Women’s Special Event – Theme: "Awaken"

This empowering event provided workshops, inspirational talks, and networking opportunities for women. It encouraged leadership, strengthened faith, and fostered peer support.

Impact: Inspired women to pursue leadership opportunities, build supportive networks, and contribute more actively to family, church, and community life.

5. Friend and Family Service

A service designed to encourage relationship-building within the congregation while welcoming new attendees. Families invited relatives, friends, and neighbours to participate, widening the church’s community reach.

Impact: Expanded engagement with new community members and fostered stronger connections between families and the church.

6. Monthly Healing Service

Introduced a dedicated monthly service focusing on prayers for healing, sharing testimonies, and spiritual renewal. Open to the community, this service has provided comfort and hope to many facing health challenges.

Impact: Offered emotional and spiritual support, promoting wellbeing and resilience among both members and the wider community.

7. Community Outreach Programs

Ongoing outreach initiatives reached hundreds of individuals, including the homeless, socially isolated, and vulnerable families. Activities provided practical support, food, and care.

Impact: Demonstrated compassion in action, reduced hardship, and promoted dignity for those in need.

8. El-Bethel Church Building Project Fund

Launched a fundraising campaign to resource the development of a new, modern worship and community centre. The facility is intended to serve as a hub for spiritual growth, education, and social programmes.

Impact: Mobilised financial and community support towards a sustainable long-term project that will enhance service delivery and meet growing community needs.

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2024

9. Support for Families Within the Community

Over 50 families received targeted assistance, including counselling, welfare support, and prayer. This provided relief during periods of financial and emotional difficulty.

Impact: Strengthened families by reducing stress, improving wellbeing, and reinforcing the importance of community solidarity.

10. Health and Safety Awareness Programme

Delivered training sessions to increase awareness and understanding of health and safety practices within the church.

Impact: Improved safety standards across all church activities, ensuring a secure environment for members and visitors.

11. 3M – Men’s Mind Matters

A groundbreaking event focusing on men’s mental health, diet, and sexual wellbeing. Participants engaged in open discussions and received professional guidance.

Impact: Broke down stigma around men’s health, promoted positive lifestyle changes, and equipped men with practical strategies for long-term wellbeing.

Plan for 2025

City of Victory aims to expand outreach and community engagement through:

1. New Building Expansion Project

2. Youth and Family Ministry Expansion

3. Local and International Mission Outreach

4. Digital Outreach Enhancement

5. Mental Health and Wellness Program

6. Leadership and Discipleship Training

7. Partnerships with Local Schools and Charities

8. Vocational and Skill Development Workshops

9. Environmental Stewardship Initiatives

10. Support for the Elderly and Vulnerable

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THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Report of the Trustees Continued For the year ended 31 December 2024

Trustee Induction and Training

Most trustees are already familiar with the charity’s practical work. New trustees are required and encouraged to attend training provided by RCCG Central Office, which also supplies each trustee with a copy of The A to Z of Governing a Charitable Organisation by Paul Martin.

Organisational Structure and Decision Making

Day-to-day running of the church is delegated to the parish Pastor and spiritual leaders. Trustees are consulted on material issues and meet formally, and as required, to review operations and determine the strategic direction of the charity.

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:

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.

OluwasijibomiMajekodunmi 26/09/25

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 2024

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 N17 9JD

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

6

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Independent Examiners Report to the Trustees For the year ended 31 December 2024

I report to the trustees on my examination of the accounts of the charitable company for the period ended 31 December 2024.

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

26-Sep-25

7

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Statement of Financial Activities for the year ended 31 December 2024

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 2024
Transfer between funds
Total funds at 31 December 2024		 2024
2023
Unrestricted
Restricted
Total
Total
£
£
£
£
141,435
-
141,435
82,305
-
-
-
141,435
-
141,435
82,305
3,650
-
3,650
3,400
117,113
117,113
50,323
22,878
22,878
23,962
-
-
-
143,641
-
143,641
77,686
(2,206)
-
(2,206)
4,619
13,329
-
13,329
8,710
-
-
-
-
11,123
-
11,123
13,329

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 2024

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		 £
-
5,582		 2024
2023
£
£
17,977
14,230
17,977
14,230
-
8,190
8,190

(4,743)
(4,603)
3,447
13,374
17,678
(2,251)
(4,349)
11,123
13,329
-
-
11,123
13,329
11,123
13,329		 2024
2023
£
£
17,977
14,230
17,977
14,230
-
8,190
8,190

(4,743)
(4,603)
3,447
13,374
17,678
(2,251)
(4,349)
11,123
13,329
-
-
11,123
13,329
11,123
13,329
5,582
(10,185)
17,678
(4,349)
13,329
-
13,329
13,329

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:

OluwasijibomiMajekodunmi 26/09/25

Mr Oluwasijibomi O Majekodunmi

9

THE REDEEMED CHRISTIAN CHURCH OF GOD CITY OF VICTORY Notes to the financial statements for the period ended 31 December 2024

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 **31/12/2024 ** **31/12/2024 ** 31/12/2024 31/12/2023
£ £ £ £
Tithes & Offerings 122,864 - 122,864 66,327
Gift aid claims 13,629 - 13,629 15,978
Building fund 4,942 - 4,942 -
Grant - - - -
141,435 - 141,435 82,305
3. Investment Income £ £ £ £
Bank interest receivable - - - -
- - - -

10

Unrestricted Restricted
Fund
Fund
Total		 Total
4. Cost of charitable £ £ £ £
activities by fund type **31/12/2024 ** **31/12/2024 ** 31/12/2024 31/12/2023
Adv. The Christian Faith worldwide
4.1 Grants payable - institutions
Word Evangelical Mission 2,600 - 2,600 1,800
RCCG Central office 600 - 600 600
Mission Support 450 - 450 1,000
3,650 - 3,650 3,400
4.2 Support cost
Staff costs - wages & salaries 94,759 - 94,759 33,826
Staff costs - social security costs 8,575 - 8,575 3,341
Advert & communication 1,069 - 1,069 -
Administrative expenses 1,173 - 1,173 -
Welfare expenses 3,751 3,751 1,823
Services and events 2,481 - 2,481 1,339
Honorarium 2,300 - 2,300 3,800
Insurance 518 - 518 497
Men/Children department 50 50 285
Volunteers /Youth department 1,970 - 1,970 1,575
Subscriptions & memberships 467 - 467 962
Music Expenses - - - 2,875
117,113 - 117,113 50,323
Gen Management
Building and equip maintenance 897 - 897 422
Depreciation - plant & machinery 3,946 - 3,946 3,124
Governance costs
Pastor's allowance - - -
Accountancy fees 990 - 990 900
Other professional expenses - - - -
Premises costs 13,566 - 13,566 13,409
Bank charges & interest - - - -
General travel expenses 2,252 - 2,252 3,010
Postage, stationery & supplies 23 - 23 855
Communications cost 1203 - 1,203 2,243
22,878 - 22,878 23,962
143,641 - 143,641 77,686
5. Net income /(expenditrure) for the period
This is stated after charging /(crediting): Total Total
£ £
31/12/2024 31/12/2023
Legal & Professional Fees 990 750
Bank Charges & Interest - 11
11

6. Staff costs and emoluments

Total staff costs for the period ended
31-Dec
Salaries and wages
Social security costs		 Total
Total
£
£
31/12/2024
31/12/2023
94,759
33,826
8,575
3,341
103,335
37,167

7. Trustee remuneration and related party transactions

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024.

Related Party Disclosures

The Redeemed Christian Church of God Global is a connected charity. During the 12 months ended 31 December 2024, Mission giving, gifts & welfare included donations to The Redeemed Christian Church of God Global for its World Evangelism Mission (WEM) of £2,600.

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 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Plant and
machinery
Total
£
£
29,721
29,721
7,693
7,693
37,414
37,414
15,490
15,490
3,946
3,946
19,438
19,438
17,977
17,977
14,230
14,230

12

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank overdraft and credit card
Accruals		 2024
2023
£
£
-
-
10,185
4,743
10,185
4,743

11. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

Bounce back Loan 2024
2023
£
£
2,251
4,349
2,251
4,349
12. MOVEMENT IN FUNDS
At 1 January
Surplus/(Deficit) for the year
At 31st December		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2023
£
£
£
£
13,329
-
13,329
8,710
(2,206)
-
(2,206)
4,619
11,123
-
11,123
13,329

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.

13