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← The Redeemed Christian Church Of God On Eagles' Wings

2023-09-30-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD ON EAGLES' WINGS

(Company Limited By Guarantee)

Company Reg. No: 09210681

Charity Reg. No: 1158591

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS Reports and Accounts for the period ended 30 September 2023

COMPANY REGISTRATION NUMBER IN ENGLAND AND WALES 9210681

CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1158591

THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS Reports and Accounts

CONTENTS
Charity Information 1
Trustees annual report 2-4
Accountant's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to Accounts 8-10

THE REDEEMED CHRISTIAN CHURCH OF GOD -ON EAGLES' WINGS Charity Information

General Overseer

Pastor E. A. Adeboye

Directors/Trustees

Mrs Adebola Aladesulu Mr Dandy Obaro Odeka Mrs Olubunmi Onanuga

Minister In Charge

Pastor Ayodele Onanuga

Company Registration No: 9210681

Charity Registration No:

1158591

Registered Address

9 Stour Road Chadwell St Mary Grays Essex RM16 4BS

Place Of Worship

1St Floor Clifford House 1 Paycocke Road Basildon Essex SS14 3DP

Bankers

Barclays Bank PLC Leicester LE87 2BB

Accountants

Gabriel Christopher & co Suite 13, Forest House 8 Gainsborough Road London E11 1HT

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD- ON EAGLES' WINGS

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of GodOn Eagles' Wings (the church) for the year ended 30 September 2023. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Structure, governance and management

a. CONSTITUTION

The church was constituted under a company limited by guarantee under a memorandum and article of association incorporated 17 August 2014, and was registered on 16 September 2014 as a charity in England and Wales with charity number 1158591

b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS/TRUSTEES

Directors/ Trustees are elected and co-opted under the terms of the Articles of Association

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the directors/ trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees.

e. RELATED PARTY RELATIONSHIPS

RCCG On Eagles' Wings is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.

f. RISK MANAGEMENT

The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The objects of the Charity are:

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

*support for other charities and Christian events.

Page 2

C. ACTIVITIES FOR ACHIEVING OBJECTIVES

*Community Outreach Events

*Confrences and events

*Welfare support to members and general public, and

*Various missionary activities

The Charity was involved in the following public benefit efforts:

d. GRANT MAKING POLICIES

Under the Common Purposes Agreement (see above), RCCG-On Eagles' Wings has agreed to make contributions to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.

e. VOLUNTEERS

The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 850 volunteer hours were provided during the year. If this is conservatively valued at £11.00 an hour the volunteers' efforts amounts to over £9,350

Achievements and performance

a. REVIEW OF ACTIVITIES

We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in the article.

b. INVESTMENT POLICY AND PERFORMANCE

The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

Financial review

a. RESERVES POLICY

Reserves Policy

The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.

b. PRINCIPAL FUNDING

This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

Plans for the future

a. FUTURE DEVELOPMENTS

The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life- changing impact in society.

Page 3

Trustees' Responsibilities in Relation to the Financial Statements

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.

The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:

a) Select suitable accounting policies and apply them consistently;

c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Signature: Adebola Aladesulu

Name: Mrs Adebola Aladesulu

Date: 03-Mar-24

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS

I report on the accounts of the Trust for the period ended 30 September 2023, which are set out on pages 6 to 10.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 disclosures 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 I do not express an audit opinion on the view given by the Accounts.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that any material respect the requirements:

  2. to keep accounting records in accordance with section 41 of the Act, and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.

Have not been met: or

  1. To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.

A. G. Oyewole FCCA

Gabriel Christopher & co Chartered Certified Accountants Suite 13, Forest House 8 Gainsborough Road London E11 1HT

03/03/2024

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS Statement of Financial Activities for the year ended 30 September 2023

2023 2022
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Incoming resources from generated funds:
Voluntary income:donations 2 62,746 - 62,746 46,206
Activities in furtherance of the charity - - -
objects -
Total Incoming Resources 62,746 - 62,746 46,206
Resources Expended
Charitable activities 3 61,650 - 61,650 55,988
Governance costs: 4 4,130 - 4,130 3,311
Total Resources expended 65,780 - 65,780 59,299
Net Incoming/(Outgoing) Resources for the year (3,034) - (3,034) (13,093)
Total funds at 1 October 2022 14,750 - 14,750 27,843
Transfer between funds - - - -
Total funds at at 30 Sept 2023 6 11,715 - 11,715 14,750

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

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS Balance sheet as at 30 September 2023

Notes
FIXED ASSETS
Tangible Fixed Assets
7
CURRENT ASSETS
Debtors
8
Cash in Hand/ Bank
CREDITORS:
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:
Amount falling due more than a year
10
NET ASSETS
ACCUMULATED FUNDS
Restricted
11
Unrestricted
11.1
TOTAL FUNDS
Amount falling due within a year		 £
1,500
3,419		 2023
£
7,576
7,576
1,500
4,731
6,231
(780)
4,139
11,715
-
11,715
-
11,715
11,715		 2022
£
9,239
9,239
(720)
5,511
4,919
14,750
-
14,750
14,750
14,750

a) For the year ending 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

b) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

c) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Trustees and Signed on their behalf:

Signature: Adebola Aladesulu

Name: Mrs Adebola Aladesulu

Date: 03-Mar-24

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD-ON EAGLES' WINGS Notes to the financial statements for the period ended 30 September 2023

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007).The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administring 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.

1.3 Incoming resources

These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted-funds.

2. Voluntary Income: Donations
Tithes & Offerings
Gift Aid (Accumulated)		 2023
£
47,267
15,478
62,746		 2022
£
41,136
5,070
46,206

3.CHARITABLE ACTIVITIES- (Direct charitable expenditure Unrestricted)

This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.

World Evangelical Mission
Central Office
Christmas expenses
Area/Zonal Contributions
Provincial contribution
Donations to other Charities
Festival Of Life
Travelling expenses
Welfare & Hospitality expenses
Anniversary expenses
Visiting speakers expenses
Website expenses
Seminar & Conferences
Children Dept
Sunday School
Music expenses
Volunteer expenses
Equipment hire and maintenance
Rent & Rates
Telephone & fax & internet
Printing, Postage & Stationeries
Insurance
Premises maintenance		 2023
£
1,800
600
150
-
400
660
240
1,013
2,528
2,762
900
-
1,085
200
208
4,470
3,763
1,931
30,683
4,470
1,124
36
2,627
61,650
Page 8		 2022
£
1,800
600
250
550
-
360
240
-
2,070
-
2,610
554
901
681
465
3,450
5,137
-
32,817
2,689
50
36
727
55,988

4. GOVERNANCE COSTS

Accountancy fees
Other legal and professional fees
Depreciation
4.1 NET MOVEMENT IN FUNDS FOR THE YEAR
The net movement in funds for the year is stated
after charging
Depreciation of tangible fixed assets
Legal & Professional fees		 2023
£
780
1,687
1,663
4,130
2023
£
1,663
780
2,443		 2022
£
720
563
2,028
3,311
2022
2,028
720
2,748

5.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:

Church & office equipment
6. FUNDS
At 1 October
Surplus/(Deficit) for the year
At 30 September		 18% reducing balance
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2022
£
£
£
£
14,750
-
14,750
27,843
(3,034)
-
(3,034)
(13,093)
11,715
-
11,715
14,750

7. FIXED ASSETS

Cost
At 1 October 2022
Additions
At 30 September 2023
Depreciation
At 1 October 2022
Charge for the year
At 30 September 2023
Net Book Value
At 30 September 2023
At 30 September 2022		 Musical
Equipments
£
18,434
-
18,434
9,194
1,663
10,857
7,576
9,239		 Total
18,434
-
18,434
9,194
1,663
10,857
7,576
9,239

Page 9

8. DEBTORS
Members Loan
Others
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals
Loans		 2023
£
1,500
-
1,500
2023
£
780
780		 2022
£
1,500
-
1,500
2022
£
720
-
720

11. 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.

11.1 RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.

Page 10