THE REDEEMED CHRISTIAN CHURCH OF GOD PENTECOST ARENA BIRMINGHAM
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
CHARITY NO: 1169547 COMPANY NO: 09657944
The Redeemed Christian Church of God Pentecost Arena Birmingham
Financial Statements for the Year Ended 30 June 2021
| Contents | Page |
|---|---|
| Legal and Adminstrative Information | 1 |
| Report of the Trustees | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes forming part of the financial statements | 8 - 10 |
The Redeemed Christian Church of God Pentecost Arena Birmingham Financial Statements for the Year Ended 30 June 2021
The Trustees present its report and financial statements for the year ended 30 June 2021.
Reference and Administrative information
Charity Name: The Redeemed Christian Church of God Pentecost Arena Birmingham Pastor in Charge: Pastor Simeon Oluwasanmi Charity Registration Number: 1169547 Company Registration Number: 09657944 Registered Address: 33 St. Marks Street, St. Marks Court, Birmingham, West Midlands B1 2UH Trustees: Mrs Aramide Fatosin Dr Gabriel Oludare Dr Oladipo Babalola Accountants: Wisdom Consult Limited 147 New Road Chatham Kent ME4 4PT Bankers: Barclays Bank 238 High Street Erdington Birmingham B23 6XT HSBC Bank 56 High Street Erdington Birmingham B23 6RT
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The Redeemed Christian Church of God Pentecost Arena Birmingham Financial Statements for the Year Ended 30 June 2021
The Trustees of RCCG Pentecost Arena Birmingham present their report and Financial Statements for the year ended 30 June 2021.
Structure, Governance and Management
a. Constitution
The church is constituted under a Trust deed dated 25 June 2015 and is a charitable company with Charity Commission.
b. Method of Appointment or Election of Trustees
New trustees are elected on the basis of the contribution that they will make to the governance of the organization and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance to trustees and given an introduction to the activities of the charity by the existing board.
c. Policies Adopted for the Induction and Training of Trustees
Existing trustees are provided with training as and when required.
d. Organisational Structure and Decision Making
The board of Trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. All the present employees of the Charity are voluntary workers. The Trustees are responsible for making all decisions regarding allocation of fund and activities.
e. Related Party Relationships
RCCG Pentecost Arena Birmingham is a parish of The Redeemed Christian Church of God - a network comprised of parishes all over the world. There is an agreement for common purposes entered into by RCCG Pentecost Arena Birmingham with The Redeemed Christian Church of God (RCCG UK) which documents this relationship.
Objectives and Activities
a. Policies and Objectives
The objects of the charity are:
- The advancement of the Christian religion worldwide; and
2. The relief of poverty.
It pursues these objects by the operation of a Christian worship centre at a facility located at The Sanctuary, Tangmere Drive, Castle Vale, Birmingham B35 7PX. It also organizes special training and mentoring activities for unemployed youths and run general information centre for the public.
b. Activities for Achieving Objectives
Significant activities that contributed to the achievement of these objectives were:
- Events organized during the year to promote the Christian faith include Weekly Bible Study and Sunday Worship distribution of Christian tracts, organizing deliverance services, all night vigils, special prayers and counselling.
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The Redeemed Christian Church of God Pentecost Arena Birmingham Financial Statements for the Year Ended 30 June 2021
- Specific activities for relief of poverty are in the areas of training and mentoring of unemployed to start their own businesses and passing job information to job seekers.
c. Grant Making Policies
Grants are made to other charitable bodies. The church supports missionary organizations such as the Festival of Life and the World Evangelism Mission, and other missions and projects within and outside the UK. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need.
d. Volunteers
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision. The Church has over 20 volunteers committed to working in various departments within the church. The church continues to dispense the service of heads of departments and Ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
e. Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate against exposures to the major risks.
Achievements and Performance
The Trustees are pleased to report that the Church continued to be successful spiritually by ministering to many people in prayers and welfare. The Church has improved in membership strength and our ability to reach out to the community was severely curtailled by the coronavirus pandemic which is still ravaging the nation.
Review of Transactions and Financial Position
During the year, income of £36,942 excluding gift aid claims of £13,553 and £5,130 from van sale (£32,268 in 2020) was received as voluntary donations. The net movement in funds, as shown in the statement of financial activities, for the period was a surplus of £34,824 (£8,430 in 2020). The value of the charity’s net assets at 30 June 2021 is £102,049 (£67,225 in 2020).
Plans for Future Developments
The charity aims at building on its current achievement in effectively spreading the ethos, love and hope that Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all.
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The Redeemed Christian Church of God Pentecost Arena Birmingham Financial Statements for the Year Ended 30 June 2021
Responsibilities of the Trustees
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view.
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 Church and of the surplus or deficit of the Church for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the church will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner
The Trustees appointed Wisdom Consult Limited (Incorporated Accountants) as the Charity’s independent examiner. A resolution for re-appointment as independent examiner for the year 2022 will be proposed during the Trustees meeting.
This report was approved by the trustees on the 12th Janaury 2022 and signed on its behalf by:
Dr Gabriel Oludare
Trustee/ Director
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The Redeemed Christian Church of God Pentecost Arena Birmingham
Independent Examiner's Report for the year ended 30 June 2021
Independent Examiners Report
We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes and the accounting policies of RCCG Pentecost Arena, Birmingham for the year ended 30th June 2021.
Respective responsibilities of trustees and independent examiner
As described on page 4, the trustees are responsible for the preparation of the financial statements. It is our responsibility to carry out an examination of those financial statements and to issue a report based on that examination.
Scope of examination
We conducted our examination in accordance with directions given by the Charity Commissioners under section 144(2) of the Charities Act 2011. An examination is limited to enquiries of the charity's personnel and analytical and review procedures applied to financial data and this provides less assurance than an audit. We have not performed an audit, and accordingly, we do not express an audit opinion.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
-
Which gives us reasonable cause to believe that in any material respect the requirements:
-
To keep accounting records in accordance with section 130 the 2011 Act; and
-
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
-
To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Wisdom Consult Limited
(Incorporated Financial Accountants)
147 New Road Chatham Kent ME4 4PT
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The Redeemed Christian Church of God Pentecost Arena Birmingham
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 30 June 2021
| Notes | 2021 | 2021 | 2021 | 2020 | |||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| Funds | Funds | Total Funds | Total Funds | ||||
| £ | £ | £ | £ | ||||
| Incoming Resources | |||||||
| Incoming Resources from generated funds | |||||||
| Voluntary Income: | |||||||
| Tithes and Offerings | 2 | 31,009 | - | 31,009 | 30,600 | ||
| Thanksgiving & Other Income | 3 | 19,486 | - | 19,486 | 1,668 | ||
| Total incoming resources | 50,495 | - | 50,495 | 32,268 | |||
| Resources expended | |||||||
| Charitable Activities | 4 | 6,287 | - | 6,287 | 13,891 | ||
| Grant | 5 | 8,816 | - | 8,816 | 6,253 | ||
| Governance Cost | 6 | 568 | - | 568 | 3,694 | ||
| Total resources expended | 15,671 | - | 15,671 | 23,838 | |||
| Net Incoming resources before other | |||||||
| recognised gains/(Loss) | 34,824 | - | 34,824 | 8,430 | |||
| Net movement in funds | 34,824 | - | 34,824 | 8,430 | |||
| Reconciliation of funds | |||||||
| Total funds brought forward | 67,225 | - | 67,225 | 58,795 | |||
| Total funds carried forward | 102,049 | - | 102,049 | 67,225 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
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The Redeemed Christian Church of God Pentecost Arena Birmingham Balance Sheet as at 30 June 2021
| Notes Fixed Assets Tangible Assets 7 Security Deposit 8 Current Assets Debtors 9 Cash at bank and in hand Creditors: Amount falling due within a year 10 Net Current Assets Net Assets General Funds |
2021 £ - - - 102,444 102,444 (395) 102,049 102,049 102,049 |
2020 £ - - - 67,620 |
|---|---|---|
| 67,620 (395) |
||
| 67,225 | ||
| 67,225 | ||
| 67,225 |
For the year ending 30 June 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The Financial Statements were approved by the board on 12th January 2022, and signed on its behalf by:
________ Dr Gabriel Oludare Trustee/ Director
Company Reg. No. 09657944
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The Redeemed Christian Church of God Pentecost Arena Birmingham
Notes forming part of the financial statements for the year ended 30 June 2021
1. Accounting Policies
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
(a) Basis of Accounting
with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 issued on 16 July 2014 and with the Charities Act 2016
(b) Incoming Resources
All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.
(c) Restricted funds
Restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs. There was no restricted fund during the year.
(d) Unrestricted Funds
Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds.
(e) Resources Expended
Direct charitable expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives. Governance expenditure includes all costs not directly related to the charitable activities and cannot be allocated to direct charitable expenditure.
(f) Donated Services and Gifts in Kind
The value of donated services and gifts in kind provided to the RCCG Pentecost Arena Birmingham is recognised in the statement of financial activities and in the Balance Sheet at their value to the charity, as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.
(g) Fixed Assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over their estimated useful economic lives.
Full year depreciation is charged in the year of acquisition, irrespective of the date of purchase and no depreciation is charged in year of asset disposal. The following rates are to be used except where the asset is on a finance lease where the lower of the period of repayment and the useful life is applied.
Motor Vehicle - 25% Office equipment - 25% Music Equipment - 20%
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The Redeemed Christian Church of God Pentecost Arena Birmingham
Notes forming part of the financial statements for the year ended 30 June 2021
| 2. Tithes and Offerings Tithes & Offerings Thanksgiving & others 3. Other Income Gift Aid Other Income - sale of van RCCG Central Office 4. Charitable Activities Outreach & Publicity Conferences & Seminars Rent & Rates Training & Books Printing & Stationery Repairs & Maintenance Equipment Expensed Pastorate Music & Media Welfare Travel & Subsistence Events Honorarium 5. Grant World Evangelistic Mission RCCG - Central Office Fund Other 6. Governance Costs Professional fees Depreciation Training Sundry Subscription |
Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 31,009 - 31,009 30,600 803 - 803 1,668 |
|---|---|
| 31,812 - 31,812 32,268 |
|
| Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 13,553 - 13,553 - 5,130 - 5,130 - - - - - |
|
| 18,683 - 18,683 - |
|
| Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 20 - 20 115 - - - 405 2,028 - 2,028 4,177 170 - 170 245 - - - 58 2,522 - 2,522 2,696 - - - 641 720 - 720 993 - - - 752 800 - 800 400 27 27 - - - - 1,309 - - - 2,100 |
|
| 6,287 - 6,287 13,891 |
|
| Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 7,306 - 7,306 4,983 600 - 600 600 910 - 910 670 |
|
| 8,816 - 8,816 6,253 |
|
| Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 395 - 395 395 - - - 2,618 - - - - 173 - 173 681 - - - - |
|
| 568 - 568 3,694 |
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The Redeemed Christian Church of God Pentecost Arena Birmingham Notes forming part of the financial statements for the year ended 30 June 2021
7. Tangible Fixed Assets
| COST At 1 July 2020 Additions in period Disposals At 30 June 2021 DEPRECIATION At 1 July 2020 Charge in period Disposals At 30 June 2021 NET BOOK VALUE At 30 June 2020 At 30 June 2021 |
Church Fixtures & Fittings Office Equipment Music Equipment Motor Vehicle Total £ £ £ £ £ - - - 10,475 10,475 - - - - - - - - (10,475) (10,475) |
|---|---|
| - - - - - |
|
| - - - 10,475 10,475 - - - - - - - - (10,475) (10,475) |
|
| - - - - - |
|
| - - - - - |
|
| - - - - - |
8. Security Deposit
There is currently no security deposit paid in respect of a leasein the year.
9. Debtors and Prepayments
| 9. Debtors and Prepayments Rent Deposit Loan to members 10. Creditors: Amounts falling due within one year Accounts fees |
Unrestricted Restricted 2021 2020 Total Total £ £ £ £ - - - - - - - - |
|---|---|
| - - - - |
|
| Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 395 - 395 395 |
|
| 395 - 395 395 |
11. Trustees Remuneration and Reimbursement of Expenses:
The Trustees did not receive any remuneration in this financial year.
12. Related party transactions
The Redeemed Christian Church of God is the main head quarters of all RCCG Church branches. During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in the account.
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