## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
**COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023**
**Company reg. no 08768971 Charity reg. no.1158718**
**DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **CONTENTS**
|Reference and administrative details of the charity|3|
|---|---|
|Directors' report|4 - 7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10 - 13|
## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **Company Information**
Director/Trustees Mr Lucky O. Aibamgbee Albert as @ 31st Dec 2023 Mrs Funmilayo Adetunji Mrs Jelilat Modupe Dada
Company number 08768971 Charity reg. no. 1158718 Registered office 202 Chells Way Stevenage Hertfordshire SG2 0LZ
Accountants
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire ALI0 9FF
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **DIRECTORS' REPORT FOR YEAR ENDED 31 DECEMBER 2023**
The directors and trustees present their report and the accounts for the year ended 31st December 2023
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the the accounts and comply with the charity's memorandum and articles, applicable by law (Companies Act 2006 and Charities Act 2011) and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities"issued in March 2005.
## **Legal and Administrative details**
Redeemed Christian Church of God New Life Assembly Borehamwood was incorporated as a private company, limited by guarantee, on 11 November 2013, company number 08768971 and charity on 15th July 2015.
## **Trustees**
The trustees who are also directors for the purposes of the Companies Act 2006 that served in the year were as follows:
## **Directors**
Mr Lucky O. Aibamgbee Albert Mrs Funmilayo Adetunji Mrs Jelilat Modupe Dada
## **Structure, Governance and Management**
## **Governing Document**
The company is limited by guarantee and registered as a charity under the Charities ACT 2011. The company has applied for charitable status for taxation purposes and is currently a registered charity.
Anyone over the age of 16 can become a member of the company subject to approval by the trustees.
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2023**
## **Governing document continued…..**
No director has any beneficial interest in the charitable company. The number of guarantees at 31 December 2023 was three. Every member of the Charity promises that if the Charity is dissolved while he or she is a member or within twelve months after he or she ceases to be a member, to contribute such sum (not exceeding £10) that may be demanded towards the payment of debts and liabilities of the Charity.
Appointment of trustees begun from the first annual general meeting and was in accordance with the articles of association. At every subsequent annual general meeting, one third of the trustees are subject to retirement by rotation.
If the company at the meeting at which a trustee retires by rotation does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to be reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution is put to the meeting and lost. The number of trustees shall not be less than two and are not subject to any maximum . Trustees have the power to co opt members to a commitee so long as those co opted members do not exceed one half of the total number of trustees on that committee.
## **Trustee Induction and Training**
Any new trustees undergo an orientation day to brief them on their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be use for the undertaking of the role.
## **Organisational Structure**
The trustees, which as at 31 December 2023 were three provide the strategic direction of the charity. The aims and objectives are communicated to the congregation and members of the church.
## **Assets held on behalf of another charity**
There are no assets held on behalf of another charity.
From the strategy the trustees have identified a few minor risks. These are known to the trustees and are mitigated accordingly.
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2023**
## **Risk Management**
The trustees have a risk management strategy that includes:
ii. The establishment of systems and procedures to mitigate those risks identified in the plan; iii. The implementation of procedures designed to minimise any potential impact on the charity should they materialise.
Financial risk is to be mitigated by the secretary monitoring the bank frequently to ensure no losses from error or fraud take place.
The policies of risk management are continuously reviewed to ensure they still meet the needs of the charity.
## **Objectives**
The charity's objects are:
- "The advancement of the Christian religion worldwide,"
- "The relief of poverty worldwide."
- To impact the community in every positive way possible.
It pursues these objects by the operation of a centre for Christian worship at its premises in the town center of Borehamwood town and by a programme of events aimed at reaching out to the unchurched together with a range of community-centred projects. These objectives have continued throughout the Year and remain unchanged.
## **The strategies employed to achieve the charity's objectives are to:**
To establish churches, cell groups, and community centres
To promote festivals celebrations and exhibitions and otherwise develop community and fellowship To coordinate advise and administer churches
To carry out and direct discipleship, evangelistic, missionary and ecumenical activity To support administer or set up other charities
To set up, administer or support training and educational facilities including but not limited to day nurseries, playschools and other educational establishments.
To provide advice, resources and services to those affected by social and economic circumstances To establish and maintain development projects in small scale economic development and medical programmes.
To make investments in the aid of the finances to carry on further activities.
The charity has serveral powers permitted by the Memorandum of Association that allow the above strategies be achieved.
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2023**
## **ACTIVITIES FOR PUBLIC BENEFIT:**
Achievements and Performances: The Trustees are pleased to report the following activities have been carried out in 2023 and these have helped the charity build a wider network of relationships and relevance within and around our community. We are constantly seeking new ways to engage, serve, remain relevant and make better impact to the people within and around our community.
## **2023 Charity Main Activities**
The Trustees of New Life Assembly Borehamwood are pleased to report the following activities amongst others were carried out in 2023 which assisted the charity to connect, engage better and serve our community especially coming out of the Covid 19 Pandemic, whilst also seeking ways to remain relevant to the people within and around the community we serve.
## **Mother’s Day Celebrations Sunday service- March 2023**
On the 27th of March the church organised a special breakfast service in honour of all mothers and mothers to be . Special prayers were offered Event was open to public and gift items given to every mother.
## **Borehamwood Food bank Lent Appeal Donation - April 2023**
We made donation of 99.7kg of food on 2nd April to support local families struggling with the cost of living crisis and increasing demands on their budget.
## **Good Friday Walk of Witness-April 2023**
This took place on the 7th of April organised by the Elstree and Borehamwood Christian council (EBCC). Open to churches within the council and members of the public.It was well attended and a platform to network.
## **Children’s Focus Sunday service- April 2023**
A special interactive children’s focused service was held on 16th April open to children within and outside the church . A fun filled, party with games , food etc.
## **Kings Coronation special Sunday celebration service- May 2023**
We joined the nation and the world to celebrate on the 7th May with special prayers for the King family and nation, open to public with a sit down Lunch buffet. Dep mayor of Elstree and Borehamwood was in attendance amongst others.
## **Global Outreach Day- May 2023**
As a charity we joined millions across the world at the annual evangelical outreach event on the 27th May in reaching out and sharing the message of the Good news
## **Father’s Day Celebrations Sunday service- June 2023**
In honour of All fathers and fathers to be the church organised a special service event on 18th June open to All with special prayers and gifts presented to the men.
## **Annual special children’s anointing and thanksgiving service: Sept 2023**
A special thanksgiving service and prayers was held on the 3rd sept for children within and outside the church . Refreshments was served
.
## **Hertsmere civic service:- Oct 2023**
We joined other faith groups and dignitaries within the community at the civic service on 22/10/23 with the Mayor of Hertsmere in Potters Bar.
## **Samaritan’s Purse(Operation Christmas child) - Nov 2023**
As part of our annual event and with support of members, their families and friends we made a donation of 50 packed Christmas shoeboxes with additional cheque of £250(two hundred and fifty pounds) bringing smiles, hope and joy of Christmas to children across the nations of the world.
## **Christmas Family Lunch -Dec 2023**
Christmas family Lunch was held on 17th Dec partly funded by HCC Winter grant the day was open to families within the church and the community to celebrate the festive season.
We also remain active members of the Hertsmere Forum of Faith(HFoF)and the Elstree and Borehamwood Christian Council (EBCC). In addition engaging actively with others churches and faith groups within and outside Elstree and Borehamwood and also up to date with our financial obligations.
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2023**
|||||||**2023**||**2022**|
|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**||**Restricted**||**Total**||**Total**|
||||**Funds**|**Funds**||**Funds**||**Funds**|
||**Notes**||**£**|**£**||**£**||**£**|
|**INCOMING RESOURCES**|||||||||
|Donations|2||41,999|-||41,999||36,793|
|||||||-||-|
|Gift aid|||-|-||-||-|
|**Total incoming resources**|||**41,999**|**-**||**41,999**||**36,793**|
|**RESOURCES EXPENDED**|||||||||
|Cost of generating funds|4||30,558|||30,558||26,343|
|Costs of activities in furtherance of charities objects|||13,987|||13,987||12,377|
|Management and governance costs||||||-||530|
|**Total resources expended**|||**44,545**|**-**||**44,545**||**39,250**|
|||||||**-**||**-**|
|**Net (Outgoing)/Income resources for year**||**-**|**2,547**
||**-**|**2,547**
|**-**|**2,457**
|
|||||||**-**||**-**|
|**Balance b/fwd**|||142,897|||142,897||145,354|
|Prior Year Adjustment|||||||||
|**BALANCE AT END OF YEAR**|||**140,351**|**-**||**140,351**||**142,897**|
The statement of financial activities includes all surpluses and deficits recognised in the year.
All incoming resources and resources expended derive from continuing activities.
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD Balance Sheet**
## **At 31 DECEMBER 2023**
|||**2023**|**2022**|
|---|---|---|---|
|||**Total**|**Total**|
|||**Funds**|**Funds**|
||**Notes**|**£**|**£**|
|**FIXED ASSETS**||||
|Tangible assets||||
|**CURRENT ASSETS**||||
|Debtors: amounts falling due after more than one year||6,500|6,500|
|Cash in hand||134,201|137,097|
|||**140,701**|**143,597**|
|**LIABILITIES**||||
|Accrual|12|350|700|
|||**350**|**700**|
|||||
|**NET ASSETS**||**140,351**|**142,897**|
|**CHARITY FUNDS**||||
|General - unrestricted|1d|140,351|142,897|
|General - restricted|1e|||
|**TOTAL FUNDS**||**140,351**|**142,897**|
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the
- The members have not required the company to obtain an audit of its accounts for the year in
- The directors acknowledge their responsibilities for complying with the requirements of the Act with
These accounts have been prepared in accordance with the special provisions of Part 15 of the
These financial statements were approved by the Directors on **5th Oct 2024** and signed on their behalf
Mr Lucky Albert - Director/Trustee
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
**Notes to the Financial Statements FOR YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES Value added tax**
## **Stocks**
Stocks are stated at the lower of cost and net realisable value.
## **Taxation**
The charitable company has dormant status for corporation tax by HMRC.
## **2. DONATIONS AND GIFTS**
|Offering
Gift aid
**3. ACTIVITIES FOR GENERATING FUNDS**|**2023**
**2022**
**£**
**£**
41,999
28,250
-
6,500|
|---|---|
||**41,999**
**34,750**|
||**2023**
**2022**
**£**
**£**|
||**-**
**-**|
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
Detailed Statement of Financial Activities FOR YEAR ENDED 31 DECEMBER 2023
|**Voluntary income**
Donations
Gift aid
**RESOURCES EXPENDED**
**Charitable activities**
World Evangelism Mission - WEM
Central Office
Africa Mission
Events/Conferences
Area
Donations/Welfare
Hospitality
**Support Costs**
Rent
Office expenses
Pastors Stipend
Equipment
Printing, Postage and stationary
Storage
Zonal & Area Dues
Travel Expenses
Training
Multimedia
HMRC
Sunday Service
Bank charges
Outreach
**Total resources expended c/fwd**|**2023**
**2022**
£
£
41,999
36,793
-
-|
|---|---|
||**41,999**
**36,793**|
||7,235
5,581
1,213
1,961
50
-
2,164
2,559
60
-
1,827
1,051
1,438
1,227|
||**13,987**
**12,377**
2,575
1,135
622
744
19,996
20,417
202
394
40
11
450
599
-
850
626
146
120
145
144
144
-
1,030
308
578
154
151
5,321
-|
||**30,558**
**26,343**|
||**44,545**
**38,721**|
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **NOTES TO THE FINNANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023**
## **6. GOVERANCE COSTS**
|**6. GOVERANCE COSTS**||
|---|---|
|Accountancy fees
Independent Examination
Legal and professional fees|**2023**
**2022**
**£**
**£**
-
-
350
350
-
180|
||**350**
**645**|
## **7. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Tangible fixed assets Current assets Current liabilities
## **8. RESTRICTED FUNDS**
Support from province
|**Restricted**|**Unrestricted**|**2023**|**2022**|
|---|---|---|---|
|**£**|**£**|**£**|**£**|
|**-**|**-**|**-**|**-**|
|**B/f**|**Incoming**|**Outgoing**|**Outgoing**|
||**£**|**£**|**£**|
|**-**|**-**|**-**|**-**|
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## **REDEEMED CHRISTIAN CHURCH OF GOD NEW LIFE ASSEMBLY BOREHAMWOOD**
## **NOTES TO THE FINNANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023**
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||
|---|---|
|Independent Examination|**2023**
**2022**
**£**
**£**
350
350|
||**350**
**350**|
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