## **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|
Ayoks Consulting Ltd
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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.
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
## 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:
Ayoks Consulting Ltd
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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:
1. accounting record were not kept as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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|
|---|---|
Ayoks Consulting Ltd
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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:
Ayoks Consulting Ltd
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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|
|---|---|
Ayoks Consulting Ltd
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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|
|---|---|
Ayoks Consulting Ltd
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