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 2023
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
YEAR ENDED 30 APRIL 2023
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 2023 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 2023. 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 is expected to make a monthly contribution towards RCCG COF, RCCG WEM, the Festival of life operations and other worldwide, continental and national activities organised by the Redeemed Christian Church of God. In the year under review no RCCG WEM was recorded.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) RIVERS OF JOY, DAGENHAM
YEAR ENDED 30 APRIL 2023 REPORT OF THE TRUSTEES – (CONTINUED)
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.
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 face
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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 2023 shows a surplus of £6,286 (2022: £10,963). All funds are unrestricted funds with a balance on 30th April 2023 of £21, 234 (2022: £14,948).
Volunteers
The Charity is very grateful for the immeasurable contribution of the time and effort from all our volunteers the year being reviewed.
Public Benefit
RCCG Rivers of Joy Dagenham ensure that all its activities are planned and designed for the benefit of the public and in line with Charity’s objects of advancement of Christian faith and the relief of poverty.
The board of trustees ensures church take account of the Charity commission’s guideline on public benefits in their planning and decision making.
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Independent Examiner's Report to the Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
We report on the accounts of the Redeemed Christian Church of God ("RCCG") - Rivers of Joy Dagenham for the year ended 30th April 2023, which are set out on pages 7 to 14.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The 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 needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligilbe for independent examination, It is my responsibility to:
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examine the account under (section 145 of the 2011 Act;
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to following 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 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 the 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 thereport is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006;
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- and to prepare accounts which accord with the accounting records, comply with the accounting requirements of the section 386 of the Companies Act 2006 and with the methods and principles of the Statement of Recommemded Practice: Accounting and Repoting by Charities
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Eileen Da-Silva FCCA MBA BA
Da-Silva and Associates Ltd 14 Farm Close Dagenham Essex RM10 9TX
7th of March
…………………………………… 2024
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 30 APRIL 2023
| 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 |
2023 £ Unrestricted Fund £ 117,796 117,796 720 47,537 14,584 48,669 111,510 6,286 14,948 21,234 |
2022 £ Unrestricted Fund £ 114,200 |
|---|---|---|
| 114,200 | ||
| 2,520 45,247 11,135 44,335 |
||
| 103,237 | ||
| 10,963 3,985 |
||
| 14,948 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
BALANCE SHEET AS AT 30 APRIL 2023
| 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 |
2023 £ 983 21,776 215 21,991 (1,741) 20,250 21,234 21,234 |
2022 £ 1,967 |
|---|---|---|
| 13,555 226 |
||
| 13,781 (800) 12,981 |
||
| 14,948 | ||
| 14,948 |
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IVEIS 01 JOY DAG IALANCE SHEEr (coifflm) AS AT 30 Apaii 2023 Infjtoe
THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2023
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 2022
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 2023
| 2. Income from Activities in furtherance of Charitable Objects Tithes and offering Gift Aid Grants received 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 Sundry expenses |
2023 Unrestricted Fund £ 98,162 19,528 106 117,796 720 720 15,189 1,448 11,750 650 18,501 47,537 1,547 984 1,372 645 151 1,077 3,860 4,949 14,584 |
2022 Unrestricted Fund £ 82,741 12,331 19,128 |
|---|---|---|
| 114,200 | ||
| 2,520 | ||
| 2,520 | ||
| 15,080 1,470 9,960 2,070 16,667 |
||
| 45,247 | ||
| 1,665 984 1,511 804 - 2,624 3,012 536 |
||
| 11,135 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM
NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2023
| 6. Management and Administration Legal, Professional and Consultancy Staff Remuneration Social Security Costs Staff Pension Costs Housing/Accommodation Thanksgiving Services 7. Furniture & Fittings £ Cost At 01/05/22 16,364 Additions - Disposal - At 30/04/23 16,364 Accumulated Depreciation At 01/05/22 16,364 Depreciation for the year - At 30/04/23 16,364 At 30/04/23 - At 30/04/22 - 8. Debtors Other debtors |
6. Management and Administration Legal, Professional and Consultancy Staff Remuneration Social Security Costs Staff Pension Costs Housing/Accommodation Thanksgiving Services 7. Furniture & Fittings £ Cost At 01/05/22 16,364 Additions - Disposal - At 30/04/23 16,364 Accumulated Depreciation At 01/05/22 16,364 Depreciation for the year - At 30/04/23 16,364 At 30/04/23 - At 30/04/22 - 8. Debtors Other debtors |
2023 £ 1,204 14,400 731 331 15,397 16,606 48,669 Church Equipments £ 19,086 - - 19,086 17,119 984 18,103 983 1,967 2023 £ 21,776 21,776 |
2022 £ 988 20,815 1,000 - 21,532 - |
|---|---|---|---|
| 44,335 | |||
| Total £ 35,450 - - |
|||
| 16,364 | 35,450 | ||
| 16,364 - |
33,483 984 |
||
| 16,364 | 34,467 | ||
| - | 983 | ||
| - | 1,967 | ||
| 2022 £ 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 2023
| 9. Creditors Accountants Fees Tax, Social Security & Pension 10. Movement in funds Unrestricted Funds Opening balance Total Income Total Expenses Closing balance |
2023 £ 880 861 1,741 Unrestricted Funds £ 14,948 117,796 (111,510) 21,234 |
2022 £ 800 - |
|---|---|---|
| 800 | ||
| Unrestricted Funds £ 3,985 114,200 (103,237) |
||
| 14,948 |
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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