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2023-04-30-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY

(Company Limited By Guarantee)

Company Reg. No: 10135680 Charity Reg. No: 1168212

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY Reports and Accounts for the period ended 30 April 2023

COMPANY REGISTRATION NUMBER IN ENGLAND AND WALES 10135680

CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1168212

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY Reports and Accounts

CONTENTS
Charity Information 1
Trustees annual report 2-4
Accountant's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to Accounts 8-10

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY Charity Information

General Overseer

Pastor E. A. Adeboye

Directors/Trustees

Pastor Stephen Olufemi Adekoya Pastor Olatade Amos (Formerly: Sunday Ogunlowo) Pastor Funmilola Gbadeyan Pastor Olatodun Osadugba

Minister In Charge

Pastor Akintayo Aiyegbusi

Company Registration No:

10135680

Charity Registration No: 1168212

Registered Address

9 Warmington Close Millfield Estate Hackney London E5 0BX

Place Of Worship 454A High Road Tottenham London N17 9JD

Bankers

Lloyds Bank 25 Gresham Street London EC2V 7HN

Accountants

Gabriel Christopher & co Suite 13, Forest House 8 Gainsborough Road London E11 1HT

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY

TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2023

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of GodJesus Assembly (the church) for the year ended 30 April 2023. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Structure, governance and management

a. CONSTITUTION

The church was constituted under a company limited by guarantee under a memorandum and article of association incorporated 20 April 2016, and was registered on 14 July 2016 as a charity in England and Wales with charity number 1168212

b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS/TRUSTEES

Directors/ Trustees are elected and co-opted under the terms of the Articles of Association

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the directors/ trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees.

e. RELATED PARTY RELATIONSHIPS

RCCG Jesus Assembly is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.

f. RISK MANAGEMENT

The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The objects of the Charity are:

b. STRATEGIES FOR ACHIEVING OBJECTIVES

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

*support for other charities and Christian events.

Page 2

C. ACTIVITIES FOR ACHIEVING OBJECTIVES

*Community Outreach Events

*Confrences and events

*Welfare support to members and general public, and

*Various missionary activities

The Charity was involved in the following public benefit efforts:

d. GRANT MAKING POLICIES

Under the Common Purposes Agreement (see above), RCCG Jesus Assembly has agreed to make contributions to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.

e. VOLUNTEERS

The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 700 volunteer hours were provided during the year. If this is conservatively valued at £11.00 an hour the volunteers' efforts amounts to over £7,700.00

Achievements and performance

a. REVIEW OF ACTIVITIES

We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in the article.

b. INVESTMENT POLICY AND PERFORMANCE

The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

FINANCIAL REVIEW

The charity's financial statement for the year ended 30 April 2023 shows a net increase in fund of £9,599 (2022: £13,795 decrease).

The value of the charity's net assets at 30 April 2023 was a deficit of £4,196 (2022:a deficit of £13,795)

a. RESERVES POLICY

Reserves Policy

The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.

b. PRINCIPAL FUNDING

This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

Page 3

PLANS FOR FUTURE

a. FUTURE DEVELOPMENTS

The church 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 society.

Trustees' Responsibilities in Relation to the Financial Statements

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

The Charities Act requires the Trustees to prepare financial statements for each financial year, which 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 these financial statements, the trustees are required to:

c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.

d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Signature: OlatadeAmos

Name: Olatade Amos

Date: 21-Jan-24

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY

I report on the accounts of the Trust for the period ended 30 April 2023, which are set out on pages 6 to 10.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 Accounts, 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 I do not express an audit opinion on the view given by the Accounts.

INDEPENDENT EXAMINER'S STATEMENT

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

  1. Which gives me reasonable cause to believe that any material respect the requirements:

  2. to keep accounting records in accordance with section 41 of the Act, and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.

Have not been met: or

  1. To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.

A G Oyewole FCCA

Gabriel Christopher & co Chartered Certified Accountants Suite 13, Forest House 8 Gainsborough Road London E11 1HT

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY Statement of Financial Activities for the year ended 30 April 2023

2023 2022
Notes Unrestricted Restricted Total Total
£ £ £ £
Incoming Resources
Incoming resources from generated funds:
Voluntary income:donations 2 207,070 - 207,070 150,149
Activities in furtherance of the charity - - - -
objects - - - -
Total Incoming Resources 207,070 - 207,070 150,149
Resources Expended
Charitable activities 4 192,257 - 192,257 168,827
Governance costs: 3 5,213 - 5,213 5,984
Total Resources expended 197,471 - 197,471 174,811
Net Incoming/(Outgoing) Resources for the year 9,599 - 9,599 (24,662)
Total funds at 1 May 2022 (13,795) - (13,795) 10,867
Transfer between funds - - - -
Total funds at at 30 April 2023 6 (4,196) - (4,196) (13,795)

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY Balance sheet as at 30 April 2023

Notes
FIXED ASSETS
Tangible Fixed Assets
7
CURRENT ASSETS
Debtors
8
Cash in Hand/ Bank
CREDITORS:
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:
Amount falling due more than a year
10
NET ASSETS
ACCUMULATED FUNDS
Restricted
11
Unrestricted
11.1
TOTAL FUNDS
Amount falling due within a year		 £
12,050
3,225		 2023
£
18,519
18,519
(25,685)
(10,410)
8,109
(12,305)
(4,196)
-
(4,196)
(4,196)		 2022
£
14,764
14,764
6,336
15,808
15,275 22,144
(34,075)
(11,931)
2,834
(16,629)
(13,795)
-
(13,795)
(13,795)

a) For the year ending 30 April 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

b) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

c) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Trustees and Signed on their behalf:

Signature: OlatadeAmos Name: Olatade Amos Date: 21-Jan-24

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD JESUS ASSEMBLY Notes to the financial statements for the period ended 30 April 2023

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007).The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administring such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

1.3 Incoming resources

These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted-funds.

2. Voluntary Income: Donations
Tithes & Offerings
Other Donations
Gift Aid
3. GOVERNANCE COSTS
Legal & professional fees
Depreciation		 2023
£
88,546
77,787
40,736
207,070
2023
£
1,148
4,065
5,213		 2022
£
108,070
7,658
34,421
150,149
2022
£
2,743
3,241
5,984

Page 8

4.CHARITABLE ACTIVITIES- (Direct charitable expenditure Unrestricted)

This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.

World Evangelical Mission
Central Office
Conferences and retreat
Gifts & Donations - Charity
Insurance
Welfare, Donations, & Hospitality
Visiting speakers expenses
Youth Outreach
Sunday School
Travelling expenses
Choir Expenses
Staff Costs
Employer's NIC
Pension cost
Rent & Rates
Software, Copyright Licence
Telephone & fax & internet
Printing, Postage & Stationeries
Christmas expenses
Motor Expenses
Subscription
Cleaning, health and safety
Repairs and maintenance
Bank charges & interest
4.1 NET MOVEMENT IN FUNDS FOR THE YEAR
The net movement in funds for the year is stated
after charging
Depreciation of tangible fixed assets
Legal & Professional fees		 2023
£
2,400
800
500
830
2,134
13,364
-
505
450
3,220
1,040
94,066
6,331
1,576
51,164
139
2,385
3,245
-
5,289
178
-
1,610
1,034
192,257
2023
£
4,065
1,148
5,213		 2022
£
2,400
550
5,642
4,200
2,513
5,198
500
3,000
750
-
3,818
79,813
5,494
1,501
40,042
595
1,445
1,843
2,500
1,673
114
1,693
2,993
551
168,827
2022
£
3,241
2,743
5,984

5.DEPRECIATION

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:

Church & office equipment 18% reducing balance

6. FUNDS
At 1 May
Surplus/(Deficit) for the year
At 30 April		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2022
£
£
£
£
(13,795)
-
(13,795)
10,867
9,599
-
9,599
(24,662)
(4,196)
-
(4,196)
(13,795)

Page 9

7. FIXED ASSETS

Musical
Equipments
Furniture,
Fixtures &
Fittings
Total
£
£
£
Cost
At 1 May 2022
23,439
2,433
25,872
Additions
7,820
-
7,820
At 30 April 2023
31,258
2,433
33,691
Depreciation
At 1 May 2022
10,103
1,005
11,108
Charge for the year
3,808
257
4,065
At 30 April 2023
13,911
1,262
15,173
Net Book Value
At 30 April 2023
17,348
1,171
18,519
At 30 April 2022
13,336
1,428
14,764
8. DEBTORS
2023
£
Members Loan
12,050
Others
-
12,050
9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Accruals
960
Other creditors
24,725
25,685
10.CREDITORS:AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
£
Bank Loan
12,305
-
12,305		 2022
£
3,000
3,336
6,336
2022
£
960
33,115
34,075
2022
£
16,629
-
16,629

11. UNRESTRICTED FUNDS

These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.

11.1 RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.

Page 10