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 2024
Ayoks Consulting Ltd
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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 |
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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 2024
Trustees
Mrs Anne Ademuwagun - Chairperson
Mr Pius Alile Idele Dr Emmanuel Kanu
General Overseer
Pastor E A Adeboye
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) Pennine 5 Block 2 Spaces 20-22 Hawley Street Sheffield S1 2EA
Ayoks Consulting Ltd
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2024
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 members and general public; and Various missionary activities.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 JULY 2024
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 by the trustees and signed on their behalf by:
Name:
Position:
Signature:
Date:
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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
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2024 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, I 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, I have followed the Directions given by the Charity Commission section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I 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.
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.
Abiodun Akintebi FAIA, FCCA
(International Accountant)
Ayoks Consulting Ltd Pennine 5 Block 2
Spaces
20-22 Hawley Street
Sheffield
S1 2EA
Ayoks Consulting Ltd
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| Notes INCOMING RESOURCES Donations, legacies & similar incoming resources 2 Activities in furtherance of charity's object 3 Total Incoming Resources RESOURCES EXPENDED Grants Paid 4 Charitable Expenditure 5 Management and Governance Cost 6 Total Resources Expended Net Incoming/(Outgoing) Resources for the year BALANCE AT BEGINNING OF THE YEAR 10 BALANCE AT ENDING OF THE YEAR |
Total Total 2024 2023 £ £ 72,426 43,506 8,457 5,815 80,883 49,321 1,390 1,799 24,013 30,848 1,542 1,000 26,945 33,647 53,938 15,674 62,846 47,172 116,785 62,846 |
|---|---|
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
BALANCE SHEET AS AT YEAR ENDED 31 JULY 2024
| Notes FIXED ASSETS Tangible Assets 7 CURRENT ASSETS Debtor and Prepayments Cash and bank balances 8 SHORT TERM LIABILITIES Creditors (amount falling due within a year) 9 NET CURRENT ASSETS LONG TERM LIABILITIES Creditors (amount falling due after more than one year) NET ASSETS CHARITY FUNDS Unrestricted 10 Restricted |
2024 2023 £ £ 19,255 12,288 5,400 1,000 93,330 50,558 98,730 51,558 1,200 1,000 97,530 50,558 - - 116,785 62,846 116,785 62,846 - - 116,785 62,846 |
|---|---|
Approved by the trustees and signed on their behalf by:
Name:
Position:
Signature:
Date:
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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
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.
-
(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% Reducing Balance Method Computer 20% Reducing Balance Method Furniture & Fittings 20% Reducing Balance Method
| ONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES Tithe & Offering Other collection CTIVITIES IN FURTHERANCE OF CHARITY OBJECT Grant Received - Gift Aid Grant Received - Others |
2024 2023 £ £ 69,947 39,344 2,479 4,162 72,426 43,506 2024 2023 £ £ 8,457 5,815 - - 8,457 5,815 |
|---|---|
2. DONATIONS, LEGACIES AND SIMILAR
3. ACTIVITIES IN FURTHERANCE OF CHARITY OBJECT
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS (CONTINUED)
| 4. Grant Paid Grant Paid (Non-Institutional) Pastor's Stipends Administrative Gifts & Grants Grant Paid (Institutional) Other Charitable giving - UK Charitable giving - overseas List of Major Institutional grant paid RCCG WEM & Central Office Contribution RCCG Contribution - Area & Provincial Office support Festival of Life & Other Evangelism Support Total 5. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY OBJECT Telephone, Internet & Postage Honorarium Insurance & Licence Professional Fee Rent & Rate Repairs, Maintenance & Miscellaneous Stationeries, Printing & Publication Hospitality & Refreshment Depreciation Travels & Subsistence Hotel & Accommodation Administrative Expenses Welfare Utility |
Total Total 2024 2023 £ £ - - - - - - £ £ 320 300 - - 320 300 £ £ 820 565 250 934 - - 1,070 1,499 1,390 1,799 2024 2023 £ £ 1,581 1,908 - 1,600 1,249 1,002 - 946 8,268 6,803 1,634 5,785 519 320 1,453 1,977 4,814 3,072 2,089 3,011 144 1,361 1,303 2,305 - 200 959 558 24,013 30,848 |
|---|---|
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS (CONTINUED)
| Total | Total | ||
|---|---|---|---|
| 2024 | 2023 | ||
| 6. MANAGEMENT & GOVERNANCE COST | £ | £ | |
| Staff Training | 242 | - | |
| Accountancy fee | 1,300 | 1,000 | |
| 1,542 | 1,000 | ||
| 7. TANGIBLE FIXED ASSET | Motor Vehicle Musical & Computer Equipment |
Furniture & Fittings |
Total |
| Cost | £ £ |
£ | £ |
| At 1 August 2023 | 5,549 17,252 |
3,652 | 26,453 |
| Additions during the year | 6,000 5,780 |
- | 11,780 |
| Disposal | - | - | |
| At 31 July 2024 | 11,549 23,032 |
3,652 | 38,233 |
| Depreciation | |||
| At 1 August 2023 | 2,149 8,854 |
3,161 | 14,165 |
| Charged for the year | 1,880 2,836 |
98 | 4,814 |
| At 31 July 2024 | 4,029 11,690 |
3,259 | 18,978 |
| Net Book Value | |||
| At 31 July 2024 | 7,520 11,343 |
393 | 19,255 |
| At 31 July 2023 | 3,400 8,398 |
491 | 12,288 |
| 8. CASH & BANK BALANCES | 2024 £ |
2023 £ |
|
| Cash at hand | - | - | |
| Bank Balance | 93,330 | 50,558 | |
| 93,330 | 50,558 | ||
| 9. CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR | 2024 £ |
2023 £ |
|
| Owings | 1,200 | 1,000 | |
| 1,200 | 1,000 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) LIVING GRACE CHAPEL
NOTES TO THE ACCOUNTS (CONTINUED)
| 10. RESERVE (CHARITY FUNDS) Income & Expenditure Account b/f Income & Expenditure Account (current year) |
2024 2023 £ £ 62,846 47,172 53,938 15,674 116,785 62,846 |
|---|---|
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