REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE NORWICH
REPORT & ACCOUNTS
31ST DECEMBER 2022
Redeemed Christian Church of God
Holy Ghost Zone Norwich Reports & Accounts
| Contents | Page |
|---|---|
| Legal and Administrative information | 1 |
| Report of the Trustees | 2 |
| Independent Examiners Reports | 5 |
| Profit and Loss | 6 |
| Statement of Financial activities | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9-11 |
| (Inclusive of detailed Income & Expenditure) |
Redeemed Christian Church of God Holy Ghost Zone Norwich
Legal and Administrative information
Trustees:
Mr Ejiro Richard Obahor Mr Olatunji Olalete Usman Mr Adewale Oladunjoye
Register Charity Number: 1168865 Register Company Number: 09649126
Operational Address
The Church Hall Chatham Street Norwich Norfolk, NR3 3DN
Independent Examiner
Tolu Amon 43 Brook Street Northumberland Heath Kent, DA8 1JJ
Bankers
Natwest Bank Norwich City Office 45 London Street Norwich, NR2 1HX
Report of the Trustees for the year ended 31st December 2022
The Trustees present their report together with the accounts for the year ended 31 December 2022. The accounts have been prepared in accordance with the Statement of Recommended Practice 2005 and other applicable laws.
Structure, Governance and Management
Redeemed Christian Church Of God Holy Ghost Zone Norwich is a charitable company limited by guarantee and not having a share capital. The charitable company is constituted under a Memorandum of Association dated 30th May 2015.
a) Method of Appointment or Election of Trustees
The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
b) Policies Adopted for the Induction and Training of Trustees
The induction process for any newly appointed member of the Trustees comprises an initial meeting with other Chair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.
c) Organisational Structure and Decision Making
The Charitable Company is organised so that the Trustees meet regularly to manage its affairs.
d) Risk Management
The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.
Related parties
The charity is part of the Redeemed Christian Church of God worldwide with which it has an agreement of common purpose. A summary of transactions with those parties are set out in note 14 to the financial statements.
Objectives and Activities
a) Policies and Objectives
The objectives of the church are to advance the Christian religion for the public benefit in accordance with the doctrines of our Lord Jesus Christ, through the holding of prayer meetings, lectures, evangelism, distributing of literature and tracts, and such charitable means as the trustees consider appropriate; and the relief of poverty by such charitable means as the trustees consider appropriate.
b) Strategies for Achieving Objectives
The Charity has adopted the following strategies for achieving the above objectives: Organising seminars and events with proven speakers and ministers of the faith to guide members in the various aspects of the Christian faith; and support for other charities and Christians events.
c) Activities for Achieving Objectives
Community outreach events, Provision of welfare support to members, Provision to support other charities, Conferences and Events. We have started the youth and young adult arm of the Church. The aim an focus is the evangelise and build a strong and vibrant youth church. The long-term goal is to atract more youth and young adult into the Church and also to have a plantform within the Church where they can express themselves.
Report of the Trustees for the year ended 31st December 2022 continued
d) Grant making Policies
In line with the object of the charity, to relief poverty and the advancement of Christian religion worldwide. The charity has a policy of supporting missionary organisations such as the Festival of Life, World Evangelism Mission and other charities and members of congregation who are in need, (this is at the discretion of the trustees).
This year, trustees consider that the performance of the parish has been satisfactory both in terms of advancement of the Christian faith, helping the poor and in generating needed resources
Volunteers
Many volunteers give up their time to help at the church, particularly at weekends and in the evenings. We are greatly indebted to these volunteers for their commitment and support
Achievements and Performance
a) Review of Activities
The charity is consolidating the gains of previous development and has successfully ministered to the needs of various social groups within and outside the church. The charity provides forum for manpower development for its members to be equipped, educationally, socially and spiritually. It offers various counselling sessions to the to the needy, unemployed, and educational and makes referral whenever the need arises.
Counselling Service :
We have been providing counselling services to primarily church members and other members of the community. we have also embarked on various training programmes to equip more church volunteers with the relevant counselling skills that will help them serve the community better.
Community Projects :
This year 2022 there was no community project.
Support Other Ministries :
We support other minitries and charitable organisations such as Compassion UK.
Report of the Trustees for the year ended 31st December 2022 continued
The charity still continues to fulfil its main objectives, by creating facilities to help develop the whole man, spiritually, mentally and physically. We have invested time, energy and money into activities and programmes that has helped prevent youth crimes, depressions in people, child abuse and such social vices that are eating deep into the fabric of our society.
Financial Review
a) Reserves Policy
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the church 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding.
b) Principal Funding
This is provided mainly through voluntary offerings and tithes by church members and through gift aid scheme. Pledges are also taken for specific projects.
Plans for the Future
a) Future Developments
The charity aims as part of fulfilling its main objectives, to continue 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. We also aim to pray more for our neighbourhood and to help the homeless and less privilge in the community and to rehablitate them; to tranform the scoiety into free and safe place to live.
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the Annual report and Financial Statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under the law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards
and applicable law). The financial statements are required by law 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 these financial statements, the trustees are requested to:
Select suitable accounting policies and then apply them consistently; Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommendable practice
have been followed, subject to any departures disclosed and explained in the financial statements; 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 will 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 Company Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the board of trustees on the .............................and signed on its behalf by:
Mr Ejiro Richard Obahor Date:
Trustees’ responsibilities in relation to the financial statements
Charities act requires the trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of each financial year and of its surplus or deficit for the financial year. In doing so the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgments and estimates that are reasonable and prudent; and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 1985. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditors/Independent Examiner
As the charity’s income and expenditure falls below the small charities threshold the trustees considers that the audit requirement of Section 43 (2) of the Charities Act 1993 (the Act) do not apply. The trustees will not be proposing the appointment of an auditor for the ensuing year.
By order of the trustees
Signed on behalf of the Trustees on
Mr Ejiro Richard Obahor Date:
Redeemed Christian Church of God - Holy Ghost Zone Norwich
Independent Examiner’s Report
I report on the accounts of the church/charity for the year ended 31 December 2022, set out on pages 6 to 10.
Respective responsibilities of the trustees and examiner
As described on pages 2 to 4 the trustees are responsible for the preparation of financial statements; and considers that the audit requirements of Section 43 (2) of the Charities Act 1993 (the Act) do 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) (b) 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 included a review of 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, seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently I do not express an audit opinion of the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with Section 41 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting
-
requirements of the Act.
have not been met; or
- to which, in my opinion attention should have been drawn in order to enable a proper understanding of the accounts to be reached.
Signature Date: Tolu Amon (Independent Examiner)
Redeemed Christian Church of God Holy Ghost Zone Norwich
Balance Sheet as at 31st December 2022
| Fixed Assets Note Tangible assets 11 Current Assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Accountancy Fees Net current assets Total assets less current liabilities Creditors: amounts falling due after one year Net assets Represented by: Unrestricted funds 12 General Prior year adjustment Designated Restricted funds 13 |
2022 £ 3,229 3,229 10,500 55,762 66,262 800 65,462 68,691 - 68,691 68,691 - - 68,691 - 68,691 |
2021 £ 3,496 |
2021 |
|---|---|---|---|
| 3,496 14,100 42,066 |
|||
| 56,166 700 56,166 59,663 |
|||
| 59,663 | |||
| 58,963 58,963 |
|||
| 58,963 |
The Trustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Company Act 2006 and that the members has not required the company to obtain an audit in accordance with section 476 of the Act.
The Trustees acknowledges their responsibilities for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in according with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to small companies' regime.
…………………………………….
Date: --------
(Board of Trustees)
8
Redeemed Christian Church of God Holy Ghost Zone Norwich
Statement of Financial Activities for the year ended 31st December 2022
| Note Incoming Resources Donations, Legacies & similar income 3 Other incoming resources 4 Total incoming resources Resources used Cost of generating funds 5 Charitable activities 6 Governance costs 7 Total resources used Net Incoming Resources Transfer between Funds Net Movements in funds Brought Forward Prior Year Adjustment Balance at 31st December 2021 |
Unrestricted fund £ 65,570 - 65,570 52,273 3,569 - 55,842 9,728 - 9,728 58,963 68,691 |
Restricted fund £ - - - - - - - - - - - - |
Total Funds 2022 £ 65,570 - 65,570 52,273 3,569 - 55,842 9,728 - 9,728 58,963 - 68,691 |
Total Funds 2021 |
|---|---|---|---|---|
| £ 59,295 |
||||
| 59,295 | ||||
| 48,659 3,300 1,313 |
||||
| 53,272 | ||||
| 6,023 6,023 52,940 |
||||
The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.
7
Redeemed Christian Church of God Holy Ghost Zone Norwich
Profit and Loss Account for the year ended 31st December 2022
| Notes Turnover Administrative Expenses Operating profit Interest receivable Profit on ordinary activities before taxtion Profit for the financial year |
2022 £ 65,570 55,842 9,728 - 9,728 9,728 |
2021 59,295 53,272 |
|---|---|---|
| 6,023 | ||
| 6,023 | ||
| 6,023 |
6
Notes forming part of the financial statements for the year ended 31 December 2022
1. Accounting policies
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2000) issued in October 2000, applicable accounting standards and the Companies Act 1985. The principal accounting policies adopted in the preparation of the financial statements are as follows:
Incoming resources
Donations and grants
Income from donations and grants are included in incoming resources when these are receivable.
When donors specify that donations and grants, including capital grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income will be included in incoming resources of restricted funds when receivable.
Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Tangible fixed assets
Individual fixed assets are capitalised at cost.
Tangible fixed assets are depreciated on a straight-line basis over their estimated useful lives as follows:
| Annual rate | |
|---|---|
| Van | 25% |
| Church Equipments | 25% |
Fund accounting
Funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds which has been received from donations or gifts for specific purposes and can only be used for the purpose for which it was given.
Further explanation of the nature and purpose of each fund are included in the notes to the financial statements.
2. Legal status of the charity
The charity is an unincorporated association governed by a trust deed
Redeemed Christian Church of God Holy Ghost Zone Norwich
Notes forming part of the financial statements for the year ended 31December 2022 continued
| 3. Donations, Legacies & similar income Gift Aid Tithes & offerings 4. Other incoming resources Donations - pledge Bank Interest 5. Cost of generating funds Internet & Telephone Rent - Worship Centre Gift & Honorarium Repairs & Maint Transport & Travel Stationery, Advert, Printing & Postage Light & Heating Account Fees Training & Conference Salary & Wages Depreciation Church Outreach Church running expenses 6. Charitable activities Central Office support World Evangelical Mission (WEM) Festival of Life Mission Sundry 7. Governance costs Accountant Fee Professional fees 8.The trustees were not paid or reimbursed for expenses during 9. Debtors Other debtors |
2022 £ - 65,570 65,570 - - - 1,440 16,000 - - 1,216 - 421 800 - 29,819 1,077 200 1,300 52,273 600 2,400 - 300 269 3,569 - - the year. 10,500 10,500 |
2021 |
|---|---|---|
| £ 59,295 |
||
| 59,295 | ||
| - - |
||
| - | ||
| 1,437 16,000 - - - - 2,202 700 - 26,808 1,166 - 347 |
||
| 48,659 | ||
| 600 2,400 - 300 - |
||
| 3,300 | ||
| - 1,313 14,100 |
||
| 14,100 |
10
Redeemed Christian Church of God Holy Ghost Zone Norwich
Notes forming part of the financial statements for the year ended 31 December 2022 continued
| Natwest Bank 10. Creditors - amounts falling due within one year Sundry Creditors Bank overdraft Accountancy Fees |
2022 2021 |
|---|---|
| £ £ 55,762 42,066 |
|
| 55,762 42,066 | |
| - - - - 800700 |
|
| 800 700 |
11. Tangible fixed assets
| Cost: At 1st January 2022 Additions Disposals At 31st December 2022 Depreciation At 1st January 2022 Charge for year Disposals At 31st December 2022 Net Book value At 31st December 2022 At 31st December 2021 12. Unrestricted funds of the charity Brought forward @ 1st January 2022 Prior year adjustment Movement in funds for the year Balance at 31st December 2022 13. Analysis of net assets between funds Tangible Fixed assets Net Current assets Current & long term liabilities |
Church Equipment & Furniture |
Multi Media Total |
|---|---|---|
| £ 2,757 810 - |
£ £ 740 3,496 - 810 - - |
|
| 3,567 892 - |
740 4,306 - 185 1,077 - - |
|
| 892 2,675 |
185 1,077 555 3,229 |
|
| 2,757 | 740 3,496 |
|
| 2022 58,963 - 9,728 68,691 General Restricted Total 3,229 - 3,229 66,262 - 66,262 (800) - (800) |
||
| 68,691 - 68,691 |
11