2024-06-30-accounts - The Redeemed Christian Church Of God Pentecost Arena Birmingham

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The Redeemed Christian Church of God Pentecost Arena Birmingham

THE REDEEMED CHRISTIAN CHURCH OF GOD

PENTECOST ARENA BIRMINGHAM

FINANCIAL STATEMENT FOR THE YEAR ENDED 30[TH] JUNE 2024

The Redeemed Christian Church of God Pentecost Arena Birmingham

THE REDEEMED CHRISTIAN CHURCH OF GOD

PENTECOST ARENA BIRMINGHAM

FINANCIAL STATEMENT FOR THE YEAR ENDED 30[TH] JUNE 2024

CONTENT	PAGE
Corporate Information	2
Accounting Policies	3
Independent Examiner’s Report	4
Board of Trustee’s Report	5-6
Financial Statements	7-11

The Redeemed Christian Church of God Pentecost Arena Birmingham

CORPORATE INFORMATION

Charity Registered Number: 1169547 Company Limited by Guarantee Number: 09657944 Board of Trustees

Mrs Aramide Omowunmi Fatosin Member
Dr Oladipo Babalola Member 3. Mrs Adenike Amoshe Member
Dr Gabriel Oyeniyi Oludare Chairman .

Pastor/Minister in Charge

Pastor Simeon Oluwasanmi

Registered Office

33 ST. MARKS STREET

BIRMINGHAM.

B1 2UH

Bankers:

BARCLAYS BANK BIRMINGHAM

Accountants:

Heritage Accounting Services

27, Cleveland Street Wolverhampton WV1 3HT

The Redeemed Christian Church of God Pentecost Arena Birmingham

FINANCIAL STATEMENT FOR THE YEAR ENDED 30[th] JUNE 2024

ACCOUNTING POLICIES

Scope and Basis of the financial statements

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the statement of Recommended Practice “Accounting and Reporting by Charities” published in March 2007.

The charity has taken advantage of the concession which allows it to publish only a statement of financial activities. The charity generated a total income of £71,665 and had a surplus of £21,393 during the year.

Income

Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.

Expenses

Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises.

Majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to a particular heading, they have been allocated to activities on a basis consistent with the use of resources.

Fixed assets

Fixed assets are stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Fixtures and Fittings 25%

Cash Flow statement

The financial statements do not include a cash flow statement as charity has taken advantage of the exemption from preparing such a statement that are available to smaller entities.

Fund accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

The Redeemed Christian Church of God Pentecost Arena Birmingham

Independent Examiner's report to the Board of Trustees- The Redeemed Christian Church of God Pentecost Arena Birmingham on the preparation of the unaudited statutory accounts for the year ended 30 June 2024

To assist you to fulfil your duties under the Companies Act 2006 and Charities Commission, we have prepared for your approval the accounts of The Redeemed Christian Church of God, Pentecost Arena Birmingham for the year ended 30 June 2024 as set out on pages 10-13 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Trustee of The Redeem Christian Church of God Pentecost Arena Birmingham as a body, in accordance with the terms of our engagement.

Our work has been undertaken solely to prepare for your approval the accounts of The Redeemed Christian Church of God Pentecost Arena Birmingham and state those matters that we have agreed to state to them, as a body, in this report.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Redeemed Christian Church of God Pentecost Arena Birmingham and its Board of Trustee as a body for our work or for this report.

It is your duty to ensure that Redeemed Christian Church of God Pentecost Arena Birmingham has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of Redeemed Christian Church of God.

HERITAGE ACCOUNTING SERVICES 27 CLEVELAND STREET WOLVERHAMPTON WEST MIDLANDS WV1 3HT

15 November 2024

The Redeemed Christian Church of God Pentecost Arena Birmingham

Board of Trustee’s Report

The Trustees and Directors confirm that the annual report and financial statements of the Charity comply with the Charities Act 1993, as amended by the Charities Act 2006, and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005. The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust. The organisation of the charity is controlled by the Trustees.

Constitution Policies

The objective of the charity is the advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule 2.2.2 and the relief of poverty 2.3. The trustees use the income and the capital of the trust in promoting the objectives.

Objectives of the Charity, Principal Activities and Organisation of our Work

The Redeemed Christian Church of God Pentecostal Arena Birmingham is a community-based Christian charity involved in holding Christian worship services and activities, preaching the gospel of Jesus Christ, and reaching out to the community on Christian faith related matters as well as other programmes that are beneficial to the public. We are also involved in providing counselling to our members and helping those having financial challenges aimed at relief of poverty.

The principal activities of the Church are Christian worship, Christian outreach programme to increase Christian awareness and spread of the gospel of our Lord Jesus Christ and development of the whole man, spiritually, mentally, and physically.

Development, Activities Outreach Ministry and Achievements in the year

The charity’s main activities are tailored towards developing both the physical and spiritual needs of members and the public in the local community. The public also have opportunity to benefit through our internet and social media platforms. During the year, the charity organised various workshops, outreaches and interactive sessions open to members and the public such as:

The Trustees are pleased to report that the church continues to be successful by ministering to many people in prayers and welfare. The church also continues to grow in membership strength so much so that the currently rented place of worship it’s been using at The Sanctuary, Tangmere Drive, Castle Vale B35 7PX, since its inception is becoming too small to accommodate parishioners, especially on Sundays. As a result, the church is actively looking for a bigger and more suitable building/premises of its own.

The Redeemed Christian Church of God Pentecost Arena Birmingham

The church is also more able to reach out to the community as well as carry out many of its community-based activities which were seriously curtailed during the covid-19 pandemic.

This report has been approved on behalf of the Board of Trustees/Directors on 25 November 2024.

Dr Gabriel Oludare

Chairman, BOT

The Redeemed Christian Church of God Pentecost Arena Birmingham

*REDEEMED CHRISTIAN CHURCH OF GOD* *PENTECOST ARENA BIRMINGHAM* ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 *FINANCIAL STATEMENTS-INCOME AND EXPENDITURE ACCOUNT.* 2024 INCOMING RESOURCES NOTES Unrestricte d Restricte d GENERAL RESOURCES Funds Fund £ £ Donations 1 44,649 Other Receipts 18,391 8,625 Total Income 63,040 8,625 EXPENSES Administrative and Charitable Activities 2 Total Expenses Net Income**	Total £ 44,649 27,016



			2023
		Unrestricte d
		Funds
		£
		39,613
				6,037
63,040 8,625	71,665	45,650
	50,271 50,271

		26,807
		26,807
	21,394
		18,843

The Redeemed Christian Church of God Pentecost Arena Birmingham

*REDEEMED CHRISTIAN CHURCH OF GOD*
*PENTECOST ARENA BIRMINGHAM*
ACCOUNTS FOR THE YEAR ENDED 30 JUNE
2024
*FINANCIAL STATEMENTS-BALANCE SHEET***			2024	2023
	NOTES		£	£
FIXED ASSETS		5	5,113	8,820
			5,113	8,820
CURRENT ASSETS
Cash at Bank / Hand		7	134,130	109,030
CREDITORS
Sundry Creditor		8	425	425
Amount due within one year			425	425
NET CURRENT ASSETS			133,705	108,605

ASSETS			138,818	117,425
LONG TERM LIABILITIES (CREDITORS)
Amount due after more than one year
RESERVES
Unrestricted Funds			117,425	110,633
Net income for the year			21,393	6,792
ACCUMULATED FUND			138,818	117,425

The Redeemed Christian Church of God Pentecost Arena Birmingham

*REDEEMED CHRISTIAN CHURCH OF GOD* *PENTECOST ARENA BIRMINGHAM* ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 *FINANCIAL STATEMENTS-NOTES TO THE ACCOUNTS* NOTES DONATIONS 1 Tithe Offering Thanksgiving TOTAL OTHER RECIEPTS Interest on Savings Gift Aid Receipts Building Fund-Restricted Total Income Generated DIRECT EXPENSES 2 Rent and Rates Sundry Payments Travel and Subsistence Resources-Books and Manuals Training Multimedia Printing & Stationery Repairs and Maintenance Honorarium Pastorate**		2024 £ 30,216 12,505 1,928 44,649 1,557 16,834 8,625 71,665 £ 10,823 505 1,885 720 718 1,534 914 3,514 2,000	£




					2023
					£

					25,975
					10,441
					1,901
					38,317

					6,102
					-
					44,419



			8,788 295 385 2,000 335 35 2,768 2,700

The Redeemed Christian Church of God Pentecost Arena Birmingham

----- Start of picture text -----
1,566 1,089
Music and Media 1,481 100
TOTAL DIRECT EXPENSES 25,660 18,495
EXPENSES- CHARITABLE ACTIVITIES
Donations 4,000 -
World Evangelistic Mission 8,861 6,455
Central office Fund 600 850
Community Engagement 1,595
Mission and Outreach 2,000 2,832
Depreciation 3,706 3,706
Welfare 4,519 3,269
TOTAL CHARITABLE EXPENSES 23,686 18,707
OTHER EXPENSES
Professional Fees- Accounting
925 925 425
TOTAL OPERATING EXPENSES 50,271 37,627
----- End of picture text -----

The Redeemed Christian Church of God Pentecost Arena Birmingham

Taxation 4 RCCG Pentecost Arena Birmingham is a registered charity and is eligible for the exemptions from taxation available to Charities on their charitable activities. No charge to taxation therefore arises. Fixed Assets 5 Fixtures & Fittings Motor Vehicle COST £ £ £ At 1st July 2023 5,625 9,200 At 30 June 2024 5,625 - 9,200 DEPRECIATION At 1st July 2023 1,406 4,600 Charge for the Year 1,406 2,300 At 30th June 2024 2,812 - 6,900 NET BOOK VALUE At 310th June 2024 2,813 - 2,300 Bank and Cash Balances 7 Savings Account 131,112 Current Account 3,018 134,130 Creditors- amounts failing due within one year. 8 Sundry Creditor- Accounting Fee 425 425 RESERVES ACCUMULATIVE FUND 9 BAL BROUGHT FORWARD 117,425 NET INCOME FOR THE YEAR 21,393 TOTALS 138,818	Taxation 4 RCCG Pentecost Arena Birmingham is a registered charity and is eligible for the exemptions from taxation available to Charities on their charitable activities. No charge to taxation therefore arises. Fixed Assets 5 Fixtures & Fittings Motor Vehicle COST £ £ £ At 1st July 2023 5,625 9,200 At 30 June 2024 5,625 - 9,200 DEPRECIATION At 1st July 2023 1,406 4,600 Charge for the Year 1,406 2,300 At 30th June 2024 2,812 - 6,900 NET BOOK VALUE At 310th June 2024 2,813 - 2,300 Bank and Cash Balances 7 Savings Account 131,112 Current Account 3,018 134,130 Creditors- amounts failing due within one year. 8 Sundry Creditor- Accounting Fee 425 425 RESERVES ACCUMULATIVE FUND 9 BAL BROUGHT FORWARD 117,425 NET INCOME FOR THE YEAR 21,393 TOTALS 138,818





		Total
		£
		9,200

5,625	- 9,200	14,825
1,406 1,406	4,600 2,300
		6.006
		3,706
2,812	- 6,900	9,712

2,813	- 2,300	5,113
131,112 3,018

134,130
425
425
117,425 21,393
138,818

The Redeemed Christian Church of God Pentecost Arena Birmingham