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← Rccg Sure Foundation Assembly

2024-07-31-accounts

RCCG SURE FOUNDATION ASSEMBLY

CHARITY REGISTRATION NUMBER 1167527

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

CONTENTS

CONTENTS PAGE
Reference and administrative details of the charity 2.
Trustee's report 3 - 7
Independent Examiner's 8.
Statement of Financial Activities 9.
Balance sheet 10.
Notes to the financial statements 11 - 14

Page 1

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024 LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Esinkuma Nyananyo
Mr Mosiah Abiodun
Rev Olumide Osundina
Registered Charity
Number 1167527
Correspondence Address 6 Cauldron Way
Hoo
Stwerburgh
Rochester
Kent
ME3 9UB
Pastor in Charge Rev Olumide Osundina
Accountant Akintayo Ojo FCCA
Resource Accountancy Practice Limited
Chartered Certified Accountant
46 Hollywood Way
Erith
DA8 2QE
Bankers NatWest Bank PLC

Page 2

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

REPORT OF TRUSTEES

The Trustees present their annual report together with the financial statements of RCCG Sure Foundation Assembly (the Charity) for the year ended 31 July 2024 The trustees confirm that the annual report and financial statements of the charity have been prepared in accordance with the policies set out in note 1 to to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable in the UK and Republic of Ireland published on 16 July 2014

OBJECTIVES AND ACTIVITIES

The principal objects of the charity are: (1) To advance the Christian faith in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit, (2) The prevention or relief of poverty by providing grants, items and services to individuals in need and /or charities , or other organisations working to prevent or relieve poverty.

STRATEGIES FOR ACHIEVING THE OBJECTIVES

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

PUBLIC BENEFIT STATEMENT

The Board of Trustees confirm that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011 and have due regards to the Charity Commissions' general guidance on public benefit. Particular consideration has been given to the Charity Commission's supplementary public guidance provisions on the advancement of religion for public benefit.

PUBLIC BENEFITS

The Church's Sunday and mid-week services as well as prayer meetings are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in several other public benefit efforts.

Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.

Page 3

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

REPORT OF TRUSTEES

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity which also operates under the name Sure Foundation Assembly was constituted as a Charitable Incorporated Organisation Foundation and registered on 7 June 2016 with the Charity Commission in England and Wales with charity number 1167527.

APPOINTMENT OR ELLECTION OF TRUSTEES

Trustees are appointed or elected under the terms of the CIO constitution.

POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES

The induction process for newly appointed trustees comprises of an initial meeting with the Chair and other trustees, followed by short meetings with the Parish Pastor on the powers and responsibilities of the Trustees.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The charity is organised so that the Trustees meet regularly to manage its affairs. The Parish Pastor manages the day to day administration of the church with assistance from the ministers.

RELATED PARTY TRANSACTION

RCCG Sure Foundation Assembly is a parish of The Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG is governed by an 'Agreement for Common purposes'.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks. However consultation and review of our systems are regularly undertaken, in order to ensure they remain up to date and effective.

GRANT MAKING POLICY

The church supports visiting ministers of the gospel both within and outside the United kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes. The Church supports other Charities and Missionaries that shares its objects on advancement of Christian faith.

In addition to the above, and in accordance to the objective of the church, it also gives occasional and one-off welfare grant and support to congregational members who are in need or support for who are bereaved.

VOLUNTEERS

The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 2340 hours are provided by volunteers during the year. If this is conservatively valued at £10.00 per hour, the volunteers effort will amount to over £23,400. Strategic training/development programmes were provided to the volunteers to enhance the quality of services they rendered to the Charity.

Page 4

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

REPORT OF TRUSTEES

INVESTMENT POLICY

The trustees have decided that at present, funds should be retained in banks and building societies, and as far as possible in interest bearing accounts. Having considered the powers of the trustees, funds not immediately needed have been kept in a savings account to generate interest income.

RESERVES POLICY

The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended which equals roughly £24,000 - £48,000. They feel that this will enable current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is above the policy range but the trustees are continuing to seek additional funds to further boost the reserves.

PRINCIPAL FUNDING

Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects. The charity has maximised its incoming by accessing gift aid claim on donations made by eligible donors.

ACHIEVEMENT AND PERFORMANCE

REVIEW OF ACTIVITIES

The activities of the church have centred on the spiritual growth of the congregation as well as the numeric growth of the church.

On average, there are over 100 congregants in the church every Sunday. This includes Adults and the young people. The church operates Hybrid Services, Physical in Church building on Sundays and special programmes while Mid-week services are held on Zoom. This have proved to be very effective Teachings are also streamed on You Tube for a wider outreach, and benefit of online viewers. also goes out live on You Tube and face book. In future the Church intend to go fully digital with her programmes.

Community Outreach

The Charity continues to reach out to her community through her community outreach programmes. During the year in review, we had Free Community Family Fun Day/Barbecue including giving out family used stuff e.g. clothing items to the beneficiaries in the community. Hampers were given out to beneficiaries at festive seasons in the community.

Growth

The commitment of the church members to the vision of RCCG Sure Foundation Assembly has allowed the church to maintain a vibrant and healthy environment for spiritual and natural growth. The Charity continued to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of faith contained in our Trust Deed.

Page 5

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

REPORT OF TRUSTEES

REVIEW OF ACTIVITIES - continued

PLACE OF WORSHIP

The Charity recently secure a lease of a property as a place of worship. It is believed that with this move, the charity will be more stable and able to plan its programmes and deliver them effectively for the benefit of the beneficiaries. Operating from this location will also relief volunteers of the burden of packing and unpacking weekly before and after service which constitutes the reason of high wear and tear of charity equipment's.

FUTURE DEVELOPMENTS

The charity 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 the community through strategic training and development programmes.

FINANCIAL REVIEW

The Charity's financial statements for the year ended 31 July 2024 show a net decrease of funds of of a sum of -£4,005 and net increase of funds (2023: £17,748). At the end of year, 31 July 2024, there was unrestricted fund balance of £56,705.

TAXATION

RCCG Sure Foundation Assembly is a registered charity and all of its activities are tax exempt under the rules of taxation granted to charities.

e.

o

Page 6

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

REPORT OF TRUSTEES

STATEMENT OF TRUSTEES' RESPONSIBILITIES

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

Charity law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to 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 the financial statements, the Directors are required to:

The trustees recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henceforth taking steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

Approved by the trustees on 2025 and signed on their behalf by:

Mr Mosiah Abiodun Chairman

Page 7

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

INDEPENDENT EXAMINERS REPORT

TO THE TRUSTEES OF RCCG SURE FOUNDATION ASSEMBLY

I report on the accounts of the charity for the period ended 31 July 2024 which is set on pages 9 - 14

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER

The Charity Trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for the period under section 476 of the Companies Act 2006 and that an independent examination is needed.

It is my responsibility to:

BASIS OF MY EXAMINATION

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 account, 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 no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statements below.

EXAMINER'S STATEMENT

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

(1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Akintayo Ojo FCCA 2025

Resource Accountancy Practice Ltd

46 Hollywood Way, Erith. DA8 2QE

Page 8

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

STATEMENT OF FINANCIAL ACTIVITIES


Notes
INCOMING RESOURCES
Donations, legacies & similar incoming resources
2
Activities in furtherance of charity's object
3
Investment income
6
Total incoming resources
RESOURCES EXPENDED
Charitable expenditure
Grants payable - individual
7
Grants payable - institutional
8
Costs of activities in furtherance of
charities objects
9
Management and governance costs
10
Total resources expended
Net (outgoing)/incoming resources for year
Total funds at the start of the year
Transfer between funds in the year
BALANCE AT END OF YEAR		 Unrestricted
Funds
2024
£
115,314
-
2,000		 Restricted
Funds
2024
£
4,470
28,153
-
32,623
-
-
28,653
-
28,653
3,970
-
3,970
-
-		 Total
Total
Funds
Funds
2024
2023
£
£
119,784
82,023
28,153
-
2,000
-
149,937
82,023
-
-
9,562
8,794
132,712
29,592
11,368
25,889
153,642
64,275
3,705
-
17,748
60,710
42,962
-
-
57,005
60,710
117,314
-
9,562
104,059
11,368
124,989
7,675
-
60,710
3,970
57,005

The charity's incoming resources and resources expended all relate to continuing activities.

Page 9

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JLUY 2024

BALANCE SHEET AS AT 31 JULY 2024

Notes
FIXED ASSETS
Tangible Assets
11
CURRENT ASSETS
Debtors
12
Cash and bank balances
13
Total assets
LIABILITIES
CREDITORS
(amount falling due within one year)
14
Total liability
NET ASSETS
CHARITY FUNDS
General - unrestricted
1d
General - restricted
1e
TOTAL FUNDS		 2024
£
5,920
-
52,285
52,285
58,205
1,200		 2023
£
-
-
60,710
60,710
60,710
-
-
1,200 -
57,005
57,005
-
57,005
60,710
60,710
-
60,710

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 on 2025 and signed on their behalf by:

Mr Mosiah Abiodun Mr Esinkuma Nyananyo Chairman Trustee

Page 10

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

(a) The accounts are 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.

the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Musical equipment - 25% reducing balance

Furniture and fittings - 25% reducing balance Computer equipment - 25% reducing balance Motor Vehicles - 25% reducing balance

(d) Unrestricted funds are incoming resources received for the objects of the charity without further specified purpose and are available as general funds.

Unrestricted
Funds
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
2024
£
Tithe & Collection at all services
115,314
Donations
-
Gift aid recovered
-
115,314
3. ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECT
£
Building offering
-
Missions
-
-
6. INVESTMENT INCOME
£
Interest received
-
Sale of Van
2,000
2,000
7. GRANTS PAYABLE - INDIVIDUAL
Unrestricted
Funds
2024
Individual welfare
£
-		 Unrestricted
Funds
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
2024
£
Tithe & Collection at all services
115,314
Donations
-
Gift aid recovered
-
115,314
3. ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECT
£
Building offering
-
Missions
-
-
6. INVESTMENT INCOME
£
Interest received
-
Sale of Van
2,000
2,000
7. GRANTS PAYABLE - INDIVIDUAL
Unrestricted
Funds
2024
Individual welfare
£
-		 Restricted
Funds
2024
£
-
4,470
-
4,470
£
28,153
-
28,153
£
-
-
-
Restricted
Funds
2024
£
-		 Total
Funds
2024
£
115,314
4,470
-
119,784
£
28,153
-
28,153
£
-
2,000
2,000
Total
Funds
2024
£
-		 Total
Funds
2023
£
82,023
-
-
115,314 82,023
£
-
-		 £
-
-
- -
£
-
2,000		 £
-
-
2,000 -
Unrestricted
Funds
2024
£
-		 Total
Funds
2023
£
-

Page 11

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

NOTES TO THE ACCOUNTS


8. GRANTS PAYABLE - INSTITUTIONAL
Charitable giving -UK
Charitable giving -overseas
Total
List of institutional grants paid
RCCG WEM
World evangelism
RCCG Central Office
Central Office Support
RCCG Camp ground
Advancement of faith
Festival of Life
Advancement of faith
Grant to Institutions
Advancement of faith
Total grant payable - institutional
9. COST OF ACTIVITIES IN FURTHERANCE OF

CHARITY'S OBJECTS
Hall rental for Church Services
Building Lease
Building Repairs
Visiting Speakers Expenses
Choir and Music Ministration
Church Van & Running Cost
Community projects & welfare
Printing of Church Flyers & Stationery
Mission & evangelism
Catering & Refreshment
Travel & Subsistence
Conferences. Trainings & subscriptions
Repair & Maintenance
Health & Safety
Telephone & internet
Pastor's Allowance
IT Consumables
Youth Work
Worship cost		 Unrestricted
Funds
2024
£
9,562
-		 Restricted
Funds
2024
£
-
-		 Total
Funds
2024
£
9,562
-
9,562
£
8,102
100
1,000
360
-
9,562
Total
Funds
2024
4,692
42,000
35,304
2,500
-
5,397
9,375
5,307
5,307
9,801
1,500
3,135
175
1,347
48
6,000
252
320
253
132,712		 Total
Funds
2023
£
8,794
-
9,562 - 8,794
£
8,102
100
1,000
360
-		 £
-
-
-
-
-		 £
-
-
-
-
8,794
9,562 - 8,794
Unrestricted
Funds
2024
4,692
13,847
35,304
2,500
-
5,397
8,875
5,307
5,307
9,801
1,500
3,135
175
1,347
48
6,000
252
320
253		 Restricted
Funds
2024
-
28,153
-
-
-
-
500
-
-
-
-
-
-
-
-
-
-
-
-		 Total
Funds
2023
4,318
-
-
-
-
2,919
9,897
1,764
-
10,694
-
-
-
-
-
-
-
-
-
104,059 28,653 29,592

Page 12

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

NOTES TO THE ACCOUNTS

Unrestricted
10. RESOURCE EXPENDED ON MANAGING &
Funds
ADMINISTERING THE CHARITY
2024
£
Telephone & Internet
-
Transport/Travelling Expenses
2,205
Administration Costs
-
Support Cost
4,897
Equipment
-
Depreciation
2,165
Professional fees
900
Professional fees - accountancy & examination
1,200
11,368
11. TANGIBLE ASSETS
Musical
Computers
equipment & projectors
Cost
£
£
Cost/valuation At 1 August 2023
-
-
Additions: New equipment
1,077
1,559
Less: assets written off
-
-
At 31 July 2024
1,077
1,559
Depreciation
At 1 August 2023
-
-
Charge for the year
269
390
At 31 July 2024
269
390
Net book value
At 31 July 2024
808
1,169
At 31 July 2023
-
-		 Unrestricted
10. RESOURCE EXPENDED ON MANAGING &
Funds
ADMINISTERING THE CHARITY
2024
£
Telephone & Internet
-
Transport/Travelling Expenses
2,205
Administration Costs
-
Support Cost
4,897
Equipment
-
Depreciation
2,165
Professional fees
900
Professional fees - accountancy & examination
1,200
11,368
11. TANGIBLE ASSETS
Musical
Computers
equipment & projectors
Cost
£
£
Cost/valuation At 1 August 2023
-
-
Additions: New equipment
1,077
1,559
Less: assets written off
-
-
At 31 July 2024
1,077
1,559
Depreciation
At 1 August 2023
-
-
Charge for the year
269
390
At 31 July 2024
269
390
Net book value
At 31 July 2024
808
1,169
At 31 July 2023
-
-		 Unrestricted
Funds
2024
£
-
2,205
-
4,897
-
2,165
900
1,200		 Restricted
Funds
2024
£
-
-
-
-
-
-
-
-		 Total
Funds
2024
£
-
2,205
-
4,897
-
2,165
900
1,200		 Total
Funds
2023
£
-
-
34
13,607
6,811
-
5,437
-
11,368 - 11,368 25,889
Furniture's
& Fittings
£
-
3,650
-		 Motor
Vehicle
£
-
1,800
-		 Year ended
31-Jul
2024
£
-
8,085
-
1,077 1,559 3,650 1,800 8,085
-
269		 -
390		 -
912		 -
594		 -
2,165
269 390 912 594 2,165
808 1,169 2,737 1,206 5,920
- - - - -

12. DEBTORS

Year ended Year ended
31-Jul 31-Jul
2024 2023
£ £
- -
- -

Page 13

RCCG SURE FOUNDATION ASSEMBLY

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 JULY 2024

NOTES TO THE ACCOUNTS

13. CASH BALANCES Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
Bank balance £ £ £ £
Current account 52,285 - 52,285 60,710
Savings account - - - -
At 31 July 2024 52,285 - 52,285 60,710
Year ended Year ended
14. CREDITORS 31-Jul 31-Jul
2024 2023
£ £
Amount falling due within one year 1,200 -
Amount falling due after one year - -
1,200 -
16. STAFF COST AND NUMBERS Year ended Year ended
Staff costs were as follows 31-Jul 31-Jul
2024 2023
£ £
Pastor's allowance 6,000 -
Social security costs - -
6,000 -
Year ended Year ended
The average number of employee during the year was as follows 31-Jul 31-Jul
2024 2023
No. No.
Pastoral 1 1
Charity administration - -
Total 1 1

No employee received remuneration amounting to more than £50,000 in the year.

Page 14