THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
Charity Reg No: 1168025 Company Reg No: 08607452
TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
CONTENTS
Reference and Administrative Details 3 Trustees’ Annual Report 4 Independent Examiner's Report 6 Statement of Financial Activities 7 Balance Sheet 8 Note to the Financial Statements 9
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2023
STATUS
The charity is governed by memorandum and articles incorporated on 12 July 2013 at Companies House.
The charity was registered by Charity Commission on 05 July 2017 with registration number 1168025.
APPOINTMENT OR ELECTION OF TRUSTEES
Trustees are elected and co-opted under the terms of the memorandum and articles.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The charity is organised in such manner that permits the trustees to meet and manage its affairs. The Pastor in Charge manages the day to day administration of the church.
RELATED PARTY RELATIONSHIPS
The charity is a parish of The Redeemed Christian Church of God (RCCG) which has parishes all over the world. The charity's relationship with other RCCG parishes is governed by an Agreement for Common Purposes’.
PRINCIPAL FUNDING
Funding has been provided mainly through tithes and offerings by church members.
OBJECTS AND ACTIVITIES
The principal objects are: to promote Christian religious purpose; to support he needy, homeless and vulnerable in our communities; to help facilitate inclusion and integration of other communities. To achieve its objective, the charity adopted the following strategies:
Conducting Sunday worship services, midweek bible study and prayer meetings;
Running seminars in the church with proven ministers of faith to guide members in the various aspects of Christian faith; Support for other charities and Christian events; and
Regular visitations within the local community to provide required support.
The activities for achieving its objectives include:
Community outreach events;
Conferences and events;
Welfare support to memebers and general public; and
Various missionary activities.
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES & ADVISERS FOR THE YEAR ENDED 31 JULY 2023
Trustees
Mrs Anne Ademuwagun - Chairperson Mr Pius Alile Idele Dr Emmanuel Kanu General Overseer Pastor E AAdeboye Pastor in Charge Pastor Tom Ademuwagun Charity Registration Number 1168025 Company Registration Number 8607452
Principal Address 34 Bartlett Street Darlington Durham DL3 6NQ , Bankers National Westminster Bank Plc 12 Market Place Durham DH1 3NG
Independent Examiner Ayoks Consulting Limited (International Accountant) 7th Floor The Balance 2 Pinfold Street Sheffield $12GU
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2023
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The charity trustees are responsible for preparing the trustees' annual report and financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgement and estimates that are reasonable and prudent;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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 Charity Act 2011. They are also responsible for safeguarding the assets of the charity, hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved bythe trustees and signed on their behalf by:
Name: flus ACLLE [DE LE Position: Av SIEE
Signature: fis fe
Date: 29/04 o2u,
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
| report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2023 which is set out on pages 7 - 12
RESPONSIBILITIES AND BASIS OF REPORT
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the 2011 Act").
Having satisfied myself that the accounts of the charity are not required to be audited under Section 142(2) of the Charity Act 2011 ("the 2011 Act") and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under section 145 of the Charity Act 2011 ("the Act"). In carrying out my examination, | have followed the Directions given by the Charity Commission section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting record were not kept as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
| 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 orderto enable a proper understanding of the accounts to be reached.
a Sa
Abiodun Akintebi FAIA, FCCA
(International Accountant)
Ayoks Consulting Ltd
7th Floor
The Balance
2 Pinfold Street Sheffield
$12GU
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
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||||||||
|---|---|---|---|---|---|---|
|Notes|Total|Total|
|2023|2022|
|INCOMING|RESOURCES|£|£|
|Donations,|legacies & similar incoming resources|2|43,506|37,619|
|Activities|in furtherance|of chairty's|object|3|5,815|14,989|
|Total Incoming Resources|49,321|52,608|
|RESOURCES|EXPENDED|
|Grants|Paid|4|1,799|1,515|
|Charitable|Expenditure|5|30,848|22,889|
|Management and Governance|Cost|6|1,000|1,000|
|Total Resources Expended|33,647|25,404|
|Net|Incoming/(Outgoing)|Resources|for the year|15,674|27,204|
|BALANCE AT BEGINNING OF THE YEAR|10|47,172|19,968|
|BALANCE AT ENDING OF THE YEAR|62,846|47,172|
----- End of picture text -----
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
BALANCE SHEET AS AT YEAR ENDED 31 JULY 2023
| Notes | 2023 | 2022 | |
|---|---|---|---|
| FIXEDASSETS | £ | £ | |
| TangibleAssets | 7 | 12,288 | 4,454 |
| CURRENTASSETS | |||
| Debtorand Prepayments | 1,000 | ||
| Cash and bankbalances | 8 | 50,558 | 43,718 |
| 51,558 | 43,718 | ||
| SHORTTERM LIABILITIES | |||
| Creditors(amountfallingduewithin ayear) | 9 | 1,000 | 1,000 |
| NETCURRENTASSETS | 50,558 | 42,718 | |
| LONGTERM LIABILITIES | |||
| Creditors (amountfallingdue after morethanoneyear) | - | - | |
| NET ASSETS | 62,846 | 47,172 | |
| CHARITYFUNDS | |||
| Unrestricted | 10 | 62,846 | 47,172 |
| Restricted | - | E | |
| 62,846 | 47,172 |
Approved by the trustees and signed on their behalf by:
Name: PWs ALLLE IDELE
Position: ARV ff EE
Signature: RLY fle
Date: 2a/o Goan.
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
(a) The accounts are prepared under the historical cost convention and in accordance with applicable acounting 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. (b) Statement of financial activities is accounted for on an accruals basis.
(c) Tangible fixed assets other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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:
Asset Rate Motor Vehicle 20% Computer 20% Furniture & Fittings 20%
2. DONATIONS, LEGACIES AND SIMILAR
INCOMING RESOURCES
Tithe & Offering
Other collection
2023 2022 £ £ 39,344 35,510 4,162 2,109 43,506 «37,619
- ACTIVITIES IN FURTHERANCE OF CHARITY OBJECT
Grant Received - Gift Aid
Grant Received - Others
2023 2022 £ £ 5,815 14,989 = - 5,815 14,989
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS (CONTINUED)
| Total | Total | ||
|---|---|---|---|
| 4. | Grant Paid | 2023 | 2022 |
| GrantPaid (Non-Institutional) | £ | £ | |
| Pastor's Stipends | - | - | |
| Administrative Gifts& Grants | = | a | |
| GrantPaid (Institutional) | £ | £ | |
| Other Charitablegiving-UK | 300 | 300 | |
| Charitable giving -overseas | - | - | |
| 300 | 300 | ||
| ListofMajorInstitutionalgrantpaid | £ | £ | |
| RCCGWEM &CentralOffice Contribution | 565 | 715 | |
| RCCGContribution -Area& ProvincialOfficesupport | 934 | 500 | |
| Festival of Life&OtherEvangelism Support | - | - | |
| 1,499 | 1,215 | ||
| Total | 1,799 | 1,515 | |
| 2023 | 2022 | ||
| 5. | COSTOFACTIVITIES IN FURTHERANCE OFCHARITYOBJECT | £ | £ |
| Telephone, Internet& Postage | 1,908 | 1,863 | |
| Honorarium | 1,600 | 255 | |
| Insurance& Licence | 1,002 | 426 | |
| Professional Fee | 946 | 1,800 | |
| Rent& Rate | 6,803 | 9,682 | |
| Repairs, Maintenance &Miscellaneous | 5,785 | 3,297 | |
| Stationeries, Printing& Publication | 320 | 13 | |
| Hospitality &Refreshment |
1,977 | 739 | |
| Depreciation | 3,072 | 1,114 | |
| Travels&Subsistence | 3,011 | 2,192 | |
| Hotel&Accommodation | 1,361 | = | |
| Administrative Expenses | 2,305 | 1,396 | |
| Welfare | 200 | = | |
| Utility | 558 | 142 | |
| 30,848 | 22,889 |
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS (CONTINUED)
| » | Total | Total | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| 6. MANAGEMENT&GOVERNANCECOST | £ | x | |||
| StaffTraining | = | - | |||
| Accountancyfee | 1,000 | 1,000 | |||
| 1,000 | 1,000 | ||||
| Musical& | |||||
| Motor | Computer | Furniture& | |||
| 7.TANGIBLE FIXEDASSET | Vehicle | Equipment | Fittings | Total | |
| Cost | £ | £ | £ | £ | |
| At 1August2022 | 1,299 | 10,595 | 3,652 | 15,546 | |
| Additionsduringtheyear | 4,250 | 6,657 | 2 | 10,907 | |
| Disposal | - | - | |||
| At31July2023 | 5,549 | 17,252 | 3,652 | 26,453 | |
| Depreciation | |||||
| At 1August2022 | 1,299 | 6,755 | 3,038 | 11,092 | |
| Charged fortheyear | 850 | 2,099 | 123 | 3,072 | |
| At31July2023 | 2,149 | 8,854 | 3,161 | 14,164 | |
| Net BookValue | |||||
| At31July2023 | 3,400 | 8,397 | 491 | 12,288 | |
| At31July2022 | - | 3,840 | 614 | 4,454 | |
| 2023 | 2022 | ||||
| 8. CASH& BANKBALANCES | £ | £ | |||
| Cash athand | - | - | |||
| BankBalance | 50,558 | 43,718 | |||
| 50,558 | 43,718 | ||||
| 2023 | 2022 | ||||
| 9. CREDITORS:AMOUNTFALLING DUEWITHIN ONEYEAR | £ | £ | |||
| Owings | 1,000 | 1,000 | |||
| 1,000 | 1,000 |
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS (CONTINUED)
| 2023 | 2022 | ||
|---|---|---|---|
| 10. | RESERVE(CHARITYFUNDS) | £ | £ |
| Income&ExpenditureAccount b/f | 47,172 | 19,968 | |
| Income&ExpenditureAccount (currentyear) | 15,674 | 27,204 | |
| 62,846 | 47,172 |