2023-12-31-accounts

REDEEMED CHRISTIAN CHURCH OF GOD HOLY GHOST ZONE NORWICH

REPORT & ACCOUNTS

31ST DECEMBER 2023

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 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 2023

The Trustees present their report together with the accounts for the year ended 31 December 2023. 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 2023 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 2023 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 2023 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

The primary source of funding for the church is voluntary offerings and tithes contributed by its members, as well as through the Gift Aid scheme. Additionally, pledges are collected 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.

Considering the growing number of members and worshippers, the church is actively seeking to acquire a larger property, to facilitate this, a voluntary donation initiative has been established specifically for the purchase of a new property, which will be classified under a restricted fund.

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 8th September 2024 and signed on its behalf by:

Mr Adewale Oladunjoye Date: 08/09/2024

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 2023, 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:

1. which gives me reasonable cause to believe that in 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 should have been drawn in order to enable a proper understanding of the accounts to be reached.

Signature Date: 11th September 2024 Tolu Amon (Independent Examiner)

Redeemed Christian Church of God Holy Ghost Zone Norwich

Balance Sheet as at 31st December 2023

Fixed Assets Note Tangible assets 11 Current Assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Professional Fees Net current assets Total assets less current liabilities Creditors: amounts falling due after one year Net assets Represented by Fund: Unrestricted 12 Restricted Prior year adjustment Designated	2023 £ 2,422 2,422 6,900 236,750 243,650 1,534 242,116 244,538 - 244,538 77,654 166,884 - - 244,538	2022 £ 3,229	2022
		3,229 10,500 55,762
		66,262 800 66,262 69,491
		69,491
		68,691 -
		68,691

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.

Adewale Oladunjoye

(Board of Trustees)

Date: 08/09/2024

Redeemed Christian Church of God Holy Ghost Zone Norwich

Statement of Financial Activities for the year ended 31st December 2023

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 1 January 2023 Prior Year Adjustment Balance at 31st December 2023	Unrestricted fund £ 71,480 - 71,480 57,682 3,300 1,534 62,516 8,963 - 8,963 68,691 77,654	Restricted fund £ 166,884 - 166,884 - - - - 166,884 - 166,884 - 166,884	Total Funds 2023 £ 238,363 - 238,363 57,682 3,300 1,534 62,516 175,847 - 175,847 68,691 - 244,538	Total Funds 2022
				£ 65,570 -
				65,570
				51,473 3,569 800
				55,842
				9,728 9,728 58,963

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

Redeemed Christian Church of God Holy Ghost Zone Norwich

Profit and Loss Account for the year ended 31st December 2023

Notes Turnover Administrative Expenses Operating profit Interest receivable Profit on ordinary activities before taxtion Profit for the financial year	2023 £ 238,363 62,516 175,847 - 175,847 175,847	2022 65,570 55,842
		9,728
		9,728
		9,728

Notes forming part of the financial statements for the year ended 31 December 2023

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 2023 continued

3. Donations, Legacies & similar income Gift Aid Tithes & offerings 4. Other incoming resources Donations - Building 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 Professional fees 8.The trustees were not paid or reimbursed for expenses during 9. Debtors	2023 £ - 71,480 71,480 166,884 - 166,884 1,443 16,000 - - - - 4,079 1,534 - 32,613 808 200 2,539 59,216 750 2,275 - 275 - 3,300 1,534 the year.	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
		800

Other debtors	6,900 6,900	10,500
		10,500

Redeemed Christian Church of God Holy Ghost Zone Norwich

Notes forming part of the financial statements for the year ended 31 December 2023 continued

Natwest Bank 10. Creditors - amounts falling due within one year Sundry Creditors Bank overdraft Professional Fees	2023 2022
	£ £ 236,750 55,762
	236,750 55,762
	- - - - 1,534800
	1,534 800

11. Tangible fixed assets

Cost: At 1st January 2023 Additions Disposals At 31st December 2023 Depreciation At 1st January 2023 Charge for year Disposals At 31st December 2023 Net Book value At 31st December 2023 At 31st December 2022 12. Funds of the charity Brought forward @ 1st January 2023 Prior year adjustment Movement in funds for the year Balance at 31st December 2023 13. Analysis of net assets between funds Tangible Fixed assets Net Current assets Current & long term liabilities	Church Equipment & Furniture	Multi Media Total
	£ 2,675 -	£ £ 555 3,229 - - - -
	2,675 669 -	555 3,229 - 139 808 - -
	669 2,006	139 808 416 2,422
	2,675	555 3,229
	2023 68,691 - 175,847 244,538 General Restricted Total 2,422 - 2,422 76,767 166,884 243,650 (1,534) - (1,534)
	77,654 166,884 244,538