Charity Registration No. 1169652 Company Incorporation No. 09794113
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
Report & Financial Statement For Year Ended
30 April 2021
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
YEAR ENDED 30 APRIL 2021
REPORT AND FINANCIAL STATEMENTS
| CONTENTS REPORT OF THE BOARD & STATEMENT OF BOARD'S RESPONSIBLITIES INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENT |
PAGE |
|---|---|
| 1-5 6 7 8-9 10-14 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
GENERAL INFORMATION
BOARD MEMBERS, OFFICERS, ADVISERS AND BANKERS
General Overseer
Pastor E A Adeboye
Trustees
The trustees who served during this period are as follow:
Mr Abimbola Adetoye Mr Lawrence Olubunmi Fajembola Mr Oluyomi Oyewole Osibanjo
Chief Operating Officer/Senior Pastor
Mr Olayemi T. Hassan
Registered Address
Ripple Centre 121-125 Ripple Road Barking Essex IG11 7FN
Worship Address
St John The Divine Church 522 Goresbrook Road Dagenham Essex RM9 4XA
Bankers
Barclays Bank Plc Epsom Surrey KT19
Accountants
Da-Silva and Associates Ltd 14 Farm Close Dagenham Essex RM10 9TX
Statutory Registration
Company Registration Number: 09794113
Statutory Registration
Charity Commission Registration Charity Number: 1169652
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THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) RIVERS OF JOY, DAGENHAM
Year ended 30 April 2021 Report of the Trustees -Continued
The Trustees who are also Directors for the purposes of Company law present their report along with the financial statement of the charity for the year ended 30[th ] April 2021. The financial statements have been prepared based on the accounting policies set out in the notes. The financial statements comply with the Charity Act 2011, charity’s governing document, applicable law, and requirements of the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102 and Company Act (2006).
STRUCTURE GOVERNANCE AND MANAGEMENT
The Redeemed Christian Church of God (RCCG) Rivers of Joy Dagenham registered charity (number 1169652) and Company Limited by guarantee (09794113) and it is governed by its Article of Association.
Organization and Structure
The management of this Charity is the responsibility of the Board of Trustees. Who have been co-opted for their skills and experience in church leadership. Trustees are required to attend induction and annual training in order to keep up to date. The day to day running of the Charity is the responsibility of the Senior Pastor, who is also the Charity’s Chief Operating Officer. He is assisted by a Council of ministers, whom he delegates responsibilities too regularly. They meet occasionally in the year to review the activities of the church and to make decisions on all crucial matters.
Grant Making Policy
The Church in accordance with the agreement of common purposes signed with RCCG UK are expected to make a monthly contribution towards RCCG COF, RCCG WEM, the Festival of Life operations and other worldwide and national activities organised by RCCG Central. In the year under review no RCCG WEM was recorded.
Reserve Policy
It is the policy of the Charity to retain reserves at a level enough to cover regular operational costs and the remainder of the reserve is expended on the objectives of the charity or retained for future plans.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) RIVERS OF JOY, DAGENHAM
Year ended 30 April 2021 Report of the Trustees -Continued
Risk Management
The trustees have a risk management strategy which comprises:
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An annual review of the principal risks and uncertainties that the charity faces
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The establishment of policies, systems, and procedures to mitigate those risks identified in the annual review.
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Strategic and operational plans and an annual budget, and progress reporting against plans and budget
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The implementation of procedures designed to minimize or manage any potential impact on the charity should those risks materialize.
Financial Review
The Charity’s financial statement for the year ended 30 April 2021 shows a surplus of £8,077 (2020: £20,991 deficit). All funds are unrestricted funds with a balance at 30th April 2021 of £3,985 (2020: £4,092 deficit).
Volunteers
The Charity is very grateful for the immeasurable contribution of the time and effort from all our volunteers the year being reviewed.
Brief Summary of the Year under review
In the year under review, the outbreak of COVID 19 continues and the church operations in various initiatives in engaging, empowering, and meeting the needs of different age groups in the community were limited. Under the food bank initiatives, we were still able to pick food items from Tesco and Asda to meet the needs of the people in the community, but in a limited quantities and reduced three times a week collection to once a week at the Barking and Dagenham CVS centre in Barking.
Moreover, the number of volunteers to assist the old people and other vulnerable people in the community doing their shopping for them were reduced by 80% and therefore not able to do much in assisting the elderly.
We started the on-line version of the music academy for the youth during the Covid19 period and the turnout was very impressive.
Future Development
We hope to combine both online and class version of the music academy by the end of the year and continue with the youths in the community learning to play different types of music instruments. Secondly, we hope the spread of the COVID 19
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THE REDEEMED CHRISTIAN CHURCH OF GOD ("RCCG") RIVERS OF JOY. DAGENHAM Year ended 30 April 2021 Report of the Truslees -continued situation will be curtailed significantly, so that we can continue the food bank initiatives, with the hope of covering more areas in the community. Publlc Beneflt RCCG Rivers of Joy Dogenham ensure that all its activities are planned ond designed for the benefit of the public and in line wilh Chorily's objects of advoncement of Chri51ian faith and the relief of poverty. Ihe board ol trustees ensures church take account of the Charity commission's guideline on public benefits in their plonning and decision moking. stalemenl of Trustees Responslbllltles Charity law requires the Trustees to prepare the Financial Statements for each financial year which gives a true and fair view of the stcjte of financial affairs of the Charity during the year ond of its linanciol position at the end of the year. In preparing those Finonciol Stotements, the Trustees are required to.. Select 5Ultable accounting policies and apply them con51Stenlly through the yeor Make judgmenls and estimotes that are reosonoble and prudent. state whether applicable Accounting Slandords have been followed, subject to any material deportures thot should be disclosed ond explained in the Financial Statements. Prepare the Financial Statements on the going concern bosis unle55 It is inoppropriate to presume thal the trust will continue in operation. The Trustees have overoll responsibility for ensuring that the chority hos on oppropriote sy51em control, financiol ond otherwise. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the finoncial position of the Charity and enables them to ensure that the Financiol Statements comply with the Charities Act 2011. We are olso responsible for safeguarding the Assets of the Charity and for taking reasonable steps for the prevention and detection of froud ond other irregularilies. rhis report was approved by the boord of Trustees on . 2 7. FebriAqr . 2022 Mr Lawrence O. Fojembolo Trustee Mr Ablmbola Adeloye Trustee
Independenl Examlnerf$ Report to the Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAPA We report on the accounts of the Redeemed Chrislion Church ol God l RCCG'I - Rr4er5 of Joy Dogenhom for the year ended 30th April 2021. which ore sel out on pages 7 to 14. RpeCtIVe responslblllNes oltru5tees and •xamln The trustees Iwho ore also the director5 01 the compony for the purposes of compony lawl are Tespon5ible for the preparolion of the occounts. The trustee5 consider thot on oudil is not required for this year under 5eclion 144121 of Ihe Charities Act 2011 (the 2011 Actl and that an independenl examination 15 needed. Having 50tisfied myself that the charity is nol subject to audit under compony l(w4 ond is eligilbe lor independent exominaliorn It is my ie5ponsibility lo= examine the account under (section 145 of the 2011 Act.. to fouowing the procedures laid down in the general Directions given by he Chority Commission under section 14515llbl of the 201 I Act., and 10 5tote whether particulcy motter5 hove come lo my attention Bas1$ of IndepeIent exomlnei's report My exominalion wos corried out in accordance with the Generol Directions given by the Chority Commission. An exomination includes a review of the occounting records kept by the Chority and a comparison of the occounls presented with those recori.11 a0 includes consideration of any unu5voI itèms or disclosvres in the accovnts. ond seeking explonotions from the Irusleei conceming any such mallers. The procedures undertoken do not provide oll Ihe evidence thot would be required in an audit ond consequently no opinion 15 given os to whether the accounts present o true ond lair view ond thereport is limited to those matters sel out in the 5totement below. Indèpendènl •xamlnerfs Statement In connection wilh my exominalion. no matter hth come to my attention.. 11 I which gives mè reasonable cause to believè Ihal. in ony material respect Ihe requirements.. to keep occounting iecords in accordance with section 386 01 the Companies Act 2006.. and to prepare accounts which accoid with the occounling fecords. comply with the occounling requirement5 of thè section 386 of the Componies Act 2(K)6 and with the methods and principles of th8 Slolemenl ol Recommemded Practce.. Accounting ond Repoling by Chorilies 121 to which. in my opinion. atlenlion shoukl be drawn in order to &nable a proper understanding of Ihe accounts lo be leached. Mr$ Elleen Do-sllva FCCA Da-silva ond knocioles Lt¢ 14 Farm Close Dagenham Essex RMIO 9TX 2022
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 30 APRIL 2021
| Notes Income and endowment from: Donations and legacies 2 EXPENDITURE Charitable expenditure: Grants and donation 3 Charitable services 4 Support costs 5 Management and administration 6 Total Expenditure Net Income/(Expenses) Reconciliation of funds: Total Funds brought forward |
2021 £ Unrestricted Fund £ 65,428 65,428 120 13,136 8,992 35,102 57,351 8,077 (4,092) 3,985 |
2020 £ Unrestricted Fund £ 80,976 |
|---|---|---|
| 80,976 | ||
| 780 43,497 13,136 44,554 |
||
| 101,967 | ||
| (20,991) 16,899 |
||
| (4,092) |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
BALANCE SHEET AS AT 30 APRIL 2021
| Notes Fixed assets Tangible fixed assets 7 Current assets Debtors 8 Cash at bank Creditors: amount falling due within one year 9 Net current assets Total assets less current liabilities Income Funds Unrestricted Funds- General Funds 10 |
2021 £ 2,951 13,555 613 14,168 (13,134) 1,034 3,985 3,985 |
2020 £ 1,025 |
|---|---|---|
| 13,555 540 |
||
| 14,095 (19,212) (5,117) |
||
| (4,092) | ||
| (4,092) |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2021 In preparing this financial statement.. l. Ihe directors ore ol the opinion that the company is entitled lo exemption trom audit under section 477121 ol the Companies Act 2006 reloting to smoll componies. 2. No notice has been dep05iled under section 476 of Ihe Companies Act 2006 and 3. The directors ocknowledge their re5ponsibilihe5 for-. . Ensuring that the company keep occounting records which comply with section 386 01 tho Componies Act 2006 ond - Preparing occounls which give true ond loir view of the stole ol offairs of the coniDony 0$ ot the end of the finonciol yeor and ol it's surplus and deficit in accordonce with the reqviremenls of section 396. and which otherwise comply with the requirements ol this Act reloling to accounts. so for as applicable to the company. This financial stotement have been prepared in occordance with the provisions applicable to companies subject lo the Small companies regime. Approv8d on behall ot the boora ot trustees on the FebrH4 2022. Mr Lowrence Olubunml Folembola Trustee Mr blmbola Adeloye Trustee
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021
1. Accounting policy
The principal accounting policies, all of which have been applied consistently throughout the year, are set out below:
Scope and basis of the financial statements
a) Convention
These financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). The Charity is a public benefit entity for the purposes of FRS 102 and therefore has also prepared the financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with theFinancial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and theCompany Act 2006 and Charities Act 2011.
b) Donations & Legacies
Voluntary income is received by way of donations, legacies and gifts and is included in full in the statement of financial activities when receivable. Volunteer time is not included in the financial statements.
c) Grants and Commissioned Services income recognition
Income from grants and commissioned services is recognised in full in the statement of financial activities in the year in which the income is receivable
d) Rental income recognition
Rental income is included in full in the statement of financial activities when receivable. Contractual and fee income is recognised in the financial statements to the extent that entitlement had been earned at the year end through performance of the contract.
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2021
e) Deferred income
Where unconditional entitlement to income receivable is dependent upon fulfilment of conditions within the charity's control, the income is recognised when there is sufficient evidence that conditions will be met.Where there is uncertainty as to whether the charity can meet such conditions the income is deferred.
f) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the parish and which have not been designated for other purposes.
g ) Incoming resources
All income is accounted for when the Charity has entitlement to the funds, the amount can be quantified and there is certainty of receipt.
h) Resources expended
All expenditure is accounted for on accrual basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have beenallocated on a basis consistent with the use of the resources. Grant payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
i) Cash flow
The financial statements do not include a cash flow statement because the church, as a small reporting entity, is exempt from the requirement to prepare such a statement under the financial Reporting Standard for Smaller Entities (effective June 2002).
j) Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised.
Tangible fixed assets are stated at cost and depreciated on a straight line basis over their useful economic lives as follows:
| Furniture & Fittings | 25% |
|---|---|
| Office/Church Equipment | 25% |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2021
| 2. Income from Activities in furtherance of Charitable Objects Tithes and offering Thanksgiving Gift Aid HMRC CJRS Grant 3 Grants and Donations Other Grants & Donations 4. Cost of Activities for Charitable Objective Rent Welfare/Hardship Grant Music instrumentlists/Training Honorarium/Ministerial Expenses Seminars, Conferences & Events Costs 5. Support Cost Insurance Depreciation Telephone Expenses Printing, Stationery & Postage Equipment Repairs & Renewals Bank Charges Transportation Costs Advertising Other cost |
2021 Unrestricted Fund £ 46,315 230 8,169 10,714 65,428 120 120 6,774 850 4,100 350 1,062 13,136 1,694 2,008 1,453 727 760 880 800 - 670 8,992 |
2020 Unrestricted Fund £ 75,106 5,870 - - |
|---|---|---|
| 80,976 | ||
| 780 | ||
| 780 | ||
| 27,630 2,741 7,190 3,630 2,306 |
||
| 43,497 | ||
| 1,673 1,025 1,168 360 - 4,349 2,171 230 2,160 |
||
| 13,136 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2021
| 6. Management and Administration Legal, Professional and Consultancy Staff Remuneration Social Security Costs Housing/Accommodation 7. Furniture & Fittings £ Cost At 01/05/20 16,364 Additions - Disposal - At 30/04/21 16,364 p At 01/05/20 16,364 Depreciation for the year - At 30/04/21 16,364 At 30/04/21 - At 30/04/20 - 8. Debtors Other debtors |
6. Management and Administration Legal, Professional and Consultancy Staff Remuneration Social Security Costs Housing/Accommodation 7. Furniture & Fittings £ Cost At 01/05/20 16,364 Additions - Disposal - At 30/04/21 16,364 p At 01/05/20 16,364 Depreciation for the year - At 30/04/21 16,364 At 30/04/21 - At 30/04/20 - 8. Debtors Other debtors |
2021 £ 1,147 15,980 767 17,208 35,102 Church Equipments £ 15,152 3,934 - 19,086 14,127 2,008 16,135 2,951 1,025 2021 £ 13,555 13,555 |
2020 £ 800 23,858 5,530 14,365 |
|---|---|---|---|
| 44,554 | |||
| Total £ 31,516 3,934 - |
|||
| 16,364 | 35,450 | ||
| 16,364 - |
30,491 2,008 |
||
| 16,364 | 32,499 | ||
| - | 2,951 | ||
| - | 1,025 | ||
| 2020 £ 13,555 |
|||
| 13,555 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2021
| 9. Creditors Accountants Fees Loan from Members Staff cost 10. Movement in funds Unrestricted Funds Opening balance Total Income Total Expenses Closing balance |
2021 £ 800 4,270 8,064 13,134 Unrestricted Funds £ (4,092) 65,428 (57,351) 3,985 |
2020 £ 850 12,193 6,169 |
|---|---|---|
| 19,212 | ||
| Unrestricted Funds £ 16,899 80,976 (101,967) |
||
| (4,092) |
11. Trustee Emoluments
No remuneration or expenses were paid to the Trustee during the year.
12. Taxation
RCCG Rivers of Joy Dagenham 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.
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