REGISTERED CHARITY NUMBER: 1169590
THE REDEEMED CHRISTIAN CHURCH OF GOD
THE GATEWAY CHURCH
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024
THE REDEEMED CHRISTIAN CHURCH OF GOD
THE GATEWAY CHURCH
REPORT OF THE TRUSTEES
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST JANUARY 2024
The Reedemed Christian Church of God The Gateway Church Content of the Financial Statements For the Year Ended 31st January 2024
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the accounts | 8 - 12 |
| Detailed Statement of Financial Activities | 13 |
The Redeemed Christian Church of God The Gateway Church Legal and Administrative Information
Board of Trustees:
Board of Trustees: Mr. Ebenezer Obeng Mr Ebenezer Oyekpen Miss Itunu Esther Alubiagba Mrs Sabena Okechukwu Registered Charity Number 1169590
Registered Office:
St Edwards Chruch Hall Cleves Crescent New Addington Surrey CR7 7EQ
Independent Examiner
Patrick Jusu FCCA PAJ Accountants 10 - 16 Tiller Road Docklands London E14 8PX
Page 1
The Redeemed Christian Church of God The Gateway Church
For the Year Ended 31 January 2024
The trustees present their report with the financial statements of the charity for the year ended 31 January 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) Effective 1 January 2015.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes Trust Deed.
Recruitment and appointment of new trustees
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
Information for new charity trustees
The charity trustees will make available to each new charity trustee, on or before his or her first appointment:
(a) a copy of the current version of the articles of association; and
- (b) a copy of the charity’s latest Trustees’ Annual Report and statement of accounts
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees confirm that they regularly review the significant risks facing the Charity and have systems and procedures in place to mitigate those risks. The charity’s Secretary is responsible for the day-to-day monitoring of risk and reporting to the Trustees.
Induction and training of new trustees
All trustees are expected to attend:
-
Volunteer induction training
-
Trustee induction session
-
Any other update training of relevance to board members
As part of the induction process all trustees receive copies of the following:
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Outline of current boards skills and experience
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A copy of the previous year's annual report and financial report
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A copy of the memorandum and articles of association (governing document)
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A copy of the previous board meeting minutes (once agreement for appointment has been made by the Trustees)
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Charity Commission CC3 - The essential trustee: What you need to know
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Charity Commission CC60 - The Hall marks of an Effective Charity
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Copies of the trustee handbook with all current up to date policies
Page 2
The Redeemed Christian Church of God The Gateway Church Report of the Trustees For the Year Ended 31 January 2024
Public Benefit Statement
The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. Sunday Services, weekly prayer meetings and bible studies were held throughout the year on designated dates
We engage and participate in local community activities organised to better the lot of New Addington for example joint meetings with other religious activities
We go for public outreaches to engage interested members of the public on one to one discussion to enlighten them on the Christian faith. This period, Christmas party was held for New Addington children with about 60 children plus their parents in attendance.
Objectives and Aims
Our objectives are to; seek the advancement of the Christian religion in accordance with the teachings of the word of God, the Holy Bible. In doing so, we intend to educate people in the word of God and to teach the knowledge of Jesus Christ all over our area of operation and beyond.
In addition, to help in the relief of poverty in our areas of operation and beyond: directly to our immediate members, their families, members of the local, national and international community as occasion would demand in cash and in kind. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims and objectives. In carrying out this review, the trustees have considered public benefit application as below.
Significant Activities
The main activities of the church are as follows:
- Sunday Services, weekly prayer meetings and bible studies were held throughout the year on designated dates
• We engage and participate in local community activities organised to better the lot of New Addington for example joint meetings with other religious charities..
We go for public outreaches to engage interested members of the public on one to one discussion to enlighten them on the Christian faith
• This period, Christmas party was held for New Addington children with about 80 children plus their parents in attendance.
Volunteers
The efforts of volunteers are at the heart of our charity. Incoming volunteers attend full induction programme. And afterwards are sent to trainings in the area of the contribution based on assessed skill need. Some of our long-standing volunteers have worked with us for a considerable period contributing invaluable time and skills to the charity. The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, and administration.
Page 3
The Redeemed Christian Church of God The Gateway Church Report of the Trustees For the Year Ended 31 January 2024
FINANCIAL REVIEW
Reserves
It is the objective of the charity to ensure funds are kept at a level which provides sufficient funds to cover management, administration and support costs on an ongoing basis. Based on the charity's size, the context of future plans, the level of our financial commitments and contractual obligations held, it's our policy to maintain reserves of not less than equivalent of three months recurrent expenditure.
The Charity has a policy of keeping any surplus liquid funds in short-term deposits which can be readily accessed and where the capital is protected.
GOING CONCERN
After making enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its objectives and activities for the public benefit for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.
Further details regarding the adoption of the going concern basis are in note 1 ‘Accounting Policies’ in the financial statements.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by order of the board of trustees on 28th August 2024 and signed on its behalf by:
Miss Itunu Esther Alubiagba Trustee
Page 4
The Redeemed Christiab Church of God The Gateway Church Independent Examiners Report to the Trustees For the year ended 31st January 2024
I report on the accounts for the year ended 31 January 2024 set out on pages six to thirteen.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
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 - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Patrick Jusu FCCA Independent examiner PAJ Accountants 10 - 16 Tiller Road Docklands, London E14 8PX Date: 28th August 2024
Page 5
The Redeemed Christian Chuch of God The Gateway Church Statement of Financial Activities For the Year Ended 31 January 2024
| Unrestricted Funds Notes £ INCOMING RESOURCES Incoming Resources from generated funds Voluntary Income Donations 2 29,596 Other Income Gift Aid 3 13,647 Total Incoming Resources 43,243 RESOURCES EXPENDED Resources expended on Charitable Activities: Charitable activities costs 4 27,484 Cost of generating voluntary income 5 14,719 Resources Expended 42,203 Other Resources Expended Governance costs 6 1,432 Other support costs 7 3,827 5,259 Total Resources Expended 47,462 Net incoming resources for the year (4,218) RECONCILIATION OF FUNDS Net movement in funds (4,218) Fund balances brought forward 25,935 Fund balances carried forward 21,717 |
Unrestricted Funds Notes £ INCOMING RESOURCES Incoming Resources from generated funds Voluntary Income Donations 2 29,596 Other Income Gift Aid 3 13,647 Total Incoming Resources 43,243 RESOURCES EXPENDED Resources expended on Charitable Activities: Charitable activities costs 4 27,484 Cost of generating voluntary income 5 14,719 Resources Expended 42,203 Other Resources Expended Governance costs 6 1,432 Other support costs 7 3,827 5,259 Total Resources Expended 47,462 Net incoming resources for the year (4,218) RECONCILIATION OF FUNDS Net movement in funds (4,218) Fund balances brought forward 25,935 Fund balances carried forward 21,717 |
Restricted Funds £ - - |
Total Funds 2024 £ 29,596 13,647 43,243 27,484 14,719 42,203 1,432 3,827 5,259 47,462 (4,218) (4,218) 25,935 21,717 |
Total Funds 2023 £ 25,636 - |
|---|---|---|---|---|
| 43,243 | - | 25,636 | ||
| 27,484 14,719 |
- - |
12,441 10,824 |
||
| 42,203 | - | 23,265 | ||
| 1,432 3,827 |
- - |
250 471 |
||
| 5,259 | - | 721 | ||
| 47,462 | - | 23,986 | ||
| (4,218) | - | 1,651 | ||
| (4,218) 25,935 |
- - |
1,651 24,284 |
||
| 21,717 | - | 25,935 |
Page 6
The Redeemed Christian Church of God The Gateway Church Balance Sheet
At 31 January 2024
| Notes Fixed Assets Tangible fixed assets 11 Current Assets Debtors 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net Current Assets Net Assets Funds 14 Unrestricted Funds Restricted Funds |
Unrestricted £ - - - 21,967 21,967 (250) 21,717 21,717 Funds |
Restricted Funds £ - - - - - - |
Total 2024 £ - - - 21,967 21,967 (250) 21,717 21,717 21,717 - 21,717 Funds |
Total Funds 2023 £ - |
|---|---|---|---|---|
| - | ||||
| - 26,185 |
||||
| 26,185 (250) |
||||
| - | 25,935 | |||
| - | ||||
| 25,935 | ||||
| 25,935 - |
||||
| 25,935 |
The financial statements were approved by the Board of Trustees on 28th August 2024 and were signed on its behalf
Miss Itunu Esther Alubiagba
Trustee
Page 7
The Redeemed Christian Church of God The Gateway Church Notes to the Financial Statements For the Year Ended 31 January 2024
1 Accounting Policies
Accounting Convention
The accounts have been prepared in accordance with all applicable accounting standards, the Statement of Recommended Practise (SORP), “Accounting and Reporting by Charities” revised 2015, except for the alternative headings that have been used in the Statement of Financial Activities, as the Trustees feel that the revised headings make the accounts easier to read for a non-financial audience. The principal accounting policies adopted in the preparation of the accounts are set out below.
Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.
Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Grants and Donations
Income from grants and donations is included in incoming resources when these are receivable.
Going concern
The Charity’s activities, together with the factors likely to affect its future performance and position are set out in the Report of the Trustees on pages 2 to 8 which describes the structure, governance and management of the Charity; its risk management policies and procedures, its objectives and activities, the achievements, performance and financial position of the Charity, and its plans for the future. After making enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its objectives and activities for the public benefit for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.
Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Cost of generating funds
Cost of generating funds are those costs relating to the generation of income and includes cost related to the management of the charities activities.
Allocation and apportionment of costs
Support cost are those cost related to shared activities of the organisation and are apportioned on a basis considered appropriate to the underlying activities.
Governance costs
Governance costs are the costs associated with the strategic direction of the charity and with meeting regulatory responsibilities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee. Restricted funds can only be used for particular restricted purposes within the objects of the charity Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 8
The Redeemed Christian Church of God The Gatewat Church Notes to the Financial Statements For the Year Ended 31 January 2024
| 2 Voluntary Income Tithes and Offerings First Fruits Other Income 3 Gift Aid Gift aid received Resources Expended 4 Charitable activities cost Children's church expenses RCCG - WEM Ministry cost Conference and events Charitable donations Books and training Welfare support Honorarium Vicarage expenses 5 Cost of generating voluntary income Rent Wages Service refreshments Hire of venue Telephone Stationery and printing Equipment expensed Travel and subsistence 6 Governance costs Legal and Professional Bank charges Accountancy services |
31.01.2024 £ 25,422 2,376 1,798 29,596 31.01.23 £ 13,647 13,647 31.01.2024 £ 843 6,142 - 11,964 3,522 - 1,136 876 3,000 27,484 31.01.2024 £ 6,110 4,000 - - 215 2,730 - 1,663 14,719 31.01.2024 £ 1,157 25 250 1,432 |
31.01.2023 £ 25,636 - - |
|---|---|---|
| 25,636 | ||
| 31.01.22 £ - |
||
| - | ||
| 31.01.2023 £ 1,304 - 3,330 1,913 4,230 545 919 200 - |
||
| 12,441 | ||
| 31.01.2023 £ - - 476 5,570 72 523 1,453 2,730 |
||
| 10,824 | ||
| 31.01.2023 £ - - 250 |
||
| 250 |
Page 9
The Redeemed Christian Church of God The Gateway Church Notes to the Financial Statements For the Year Ended 31 January 2024
| 7 Other support costs Other admin expenses Software Sundry expenses Subscription Media and internet 8 NET INCOMING/(OUTGOING) RESOURCES Net resources are stated after charging/(crediting): Depreciation - owned assets |
31.01.2024 £ 672 2,455 701 - - 3,827 31.01.2024 £ - - |
31.01.2023 £ - - - 60 411 |
|---|---|---|
| 471 | ||
| 31.01.2023 £ - |
||
| - |
9 TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.
There were no trustees' expenses paid neither for the year ended 31 January 2024 nor for the year ended 31 January 2023.
10 STAFF COSTS
| STAFF COSTS Wages and salaries Social security costs The average monthly number of employees during the year was as follows: |
31.01.2024 £ 4,000 - 4,000 31.01.2024 - |
31.01.2023 £ - - |
|---|---|---|
| - | ||
| 31.01.2023 - |
No employees received emoluments in excess of £60,000.
Page 10
The Redeemed Christian Church of God The Gateway Church Notes to the Financial Statements For the Year Ended 31 January 2024
11 Tangible Fixed Assets
All assets relate to the Charity and are used for charitable purposes.
| Office Furniture & Equipment Cost £ At 1st Feb 2023 - Improvements - Additions - Disposals At 31st January 2024 - Depreciation At 1st Feb 2023 - Charge for the year At 31st January 2024 - Net Book Value At 31st January 2024 - Debtors Accrued Income - Fundraising event Creditors: Amounts falling due within one year Accrued expenses Other creditors |
Computer equipments £ - - - - - - - 31.01.2024 £ - - 31.01.2024 £ 250 - 250 |
Total £ - - - - |
|---|---|---|
| - | ||
| - - |
||
| - | ||
| - | ||
| 31.01.2023 £ - |
||
| - | ||
| 31.01.2023 £ 250 - |
||
| 250 |
12 Debtors
13 Creditors: Amounts falling due
Page 11
The Redeemed Christian Church of God The Gateway Church Notes to the Financial Statements For the Year Ended 31 January 2024
14 MOVEMENTS IN FUNDS
| At 1st Feb Net Movements 2023 in funds £ £ Unrestricted fund 25,935 (4,218) Restricted funds - - 25,935 (4,218) SUMMARY MOVEMENT IN FUNDS FOR THE YEAR Incoming Resources resources expended £ £ Unrestricted funds 43,243 (47,462) Restricted funds - - 43,243 (47,462) |
At 31st January 2024 £ 21,717 - |
|---|---|
| 21,717 | |
| Movement in funds £ (4,218) - |
|
| (4,218) |
14 SUMMARY MOVEMENT IN FUNDS FOR THE YEAR
Page 12
The Redeemed Christian Church of God The Gateway Church Detailed Statement of Financial Activities For the Year Ended 31 January 2024
| INCOMING RESOURCES Voluntary income Tithes and Offerings First Fruits Gift aid Other income Total Voluntary Income TOTAL INCOMING RESOURCES RESOURCES EXPENDED Other Charitable activities cost Children's church expenses RCCG - WEM Ministry cost Conference and events Charitable donations Books and training Welfare support Vicarage expenses Honorarium Cost of generating voluntary income Rent Wages Church service refreshments Hire of venue Telephone Stationery and printing Equipment expensed Travel and subsistence Governance costs Accountancy services Bank charges Other legal and professional fees Support Costs Other admin expenses Software Sundry expenses Media and internet Subscription Total Resources Expended Net Expenditure |
31.01.2024 £ 25,422 2,376 13,647 1,798 43,243 43,243 843 6,142 - 11,964 3,522 - 1,136 3,000 876 27,483 6,110 4,000 - - 215 2,730 - 1,663 14,718 250 25 1,157 1,432 672 2,455 701 - - 3,828 47,461 (4,218) |
31.01.23 £ 25,636 - - - |
|---|---|---|
| 25,636 | ||
| 25,636 | ||
| 1,304 - 3,330 1,913 4,230 545 919 - 200 |
||
| 12,441 - - 476 5,570 72 523 1,453 2,730 |
||
| 10,824 250 - - |
||
| 250 - - - 411 60 |
||
| 471 | ||
| 23,986 | ||
| 1,651 |
Page 13