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← The Redeemed Christian Church Of God Rivers Of Joy Dagenham

2024-04-30-accounts

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 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

YEAR ENDED 30 APRIL 2024

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

1

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 Oluyomi Oyewole Osibanjo

Mr Lawrence Olubunmi Fajembola

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

2

THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) RIVERS OF JOY, DAGENHAM

YEAR ENDED 30 APRIL 2024 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 2024. 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 the Festival of life events 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.

3

THE REDEEMED CHRISTIAN CHURCH OF GOD (“RCCG”) RIVERS OF JOY, DAGENHAM

YEAR ENDED 30 APRIL 2024 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:

Financial Review

The Charity’s financial statement for the year ended 30 April 2024 shows a surplus of £18,951 (2023: £6,286). All funds are unrestricted funds with a balance on 30th April 2024 of £40,185 (2023: £21,234).

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.

4

THE REDEEMED CHRISTIAN CHURCH OF GOD ("RCCG") RIVERS OF JOY, DAGENHAM YEAR ENDED 30 APRIL 2024 REPORT OF THE TRUSTEES- (CONTINUED) statement of Trustees Responsibilities Charity law requires the Trustees to prepare the Financial Statements for each financial year which gives a true and fair view of the state of financial affairs of the Charity during Ihe year and of its financial position at the end of the year. In preparing those Financial Statements, the Trustees are required to: Select suitable accounting policies and apply them consistently through the year. Make judgments and estimates that are reasonable and prudent. state whether applicable Accounting Standards have been followed, subject to any material departures that should be disclosed and explained in the Financial Statements. Prepare the Financial Stotements on the going concern basis unless il is inappropriate to presume that the trust will continue in operation. The Trustees have overall responsibility for ensuring that the charity has an appropriate system control. financial and otherwise. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity ond enables them to ensure that the Financial Statements comply with the Charities Act 2011 . We are also responsible for safeguarding the Assets of the Charity and for taking reasonable step5 for the prevention and detection of fraud and other irregularities. This report was approved by the board of Trustees on ..y6.*. F4vw40). 2025. Mr Lawrence O. Fajembola Trustee Mr Abimbola Adetoye Trustee

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 r'RCCG"I - Rivers ol Joy Dagenhom for the year ended 30th April 2024, which are Set out on pages 7 10 14. Respectlve responsibililies ol trvstees and examlner The trustees (who ore olso the directors of the company for the purposes of company lowl are responsible for the preparation of the accounts. The trusteeb consider that an audit is not required for thi5 year under section 144121 of the Chorities Act 201 I Ithe 2011 Act) and that an independent examination is needed. Hoving satisfied myself that the charity is not subject to audil under company law ond is eligilbe for independent examination, It is rny responsibility to.. examine the occount under (section 145 01 the 2011 Act,. to following the procedures loid down in the generol Direction5 given by the Charity Commission under section 14515llbl of the 2011 Act: and to stale whether porticular motters have come to my attention Basls ot Independent examinw's report My eKominalion was carried out in accordance wilh the General Directions given by the Charity Commission. An exominotion includes a review of the accounting records kept by the Charity and o comparison of the occount5 presented wilh those records. It olso includes consiceration of any unusual items or disclosures in the accounts. and seeking explanalions from the trustees concerning ony such matters. The procedure5 undertaken do nol provide all the evidence Ihot would be required in an audit ond consequently no opinion is given a5 to whether the occounts present a trve ond fair view ond thereport is limited to those matters set out in the stolement below. Independent examlner's statement In connection with my exomination. no matter has come lo my ottention.. 11 I which gives me reasonable couse to believe that. in any material respect the requirements= to keep accounting records in accordance with seclion 386 of the Companies Acl 2006: ond to prepare accounts which accord with the accounting records, comply with the occounting requirement5 of the section 386 of the Componies Act 2006 and wilh the methods ond principles of the Stotement of Recommemded Proctice: Accounting and Repoting by Charities 121 to which. in my opinion. otlention shovld be drawn in order to enoble a proper understanding of the accounts to be reached. rs Elleen Da-sllva FCCA Do-silvo ond Associoles Ltd 14 FCTM Close Dogenham Essex RM 10 9TX . 2025

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 30 APRIL 2024

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		 2024
£
Unrestricted
Fund
£
110,429
110,429
1,391
37,882
9,970
42,235
91,478
18,951
21,234
40,185		 2023
£
Unrestricted
Fund
£
117,796
117,796
720
47,537
14,584
48,669
111,510
6,286
14,948
21,234

7

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

BALANCE SHEET AS AT 30 APRIL 2024

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		 2024
£
0
32,270
8,865
41,135
(950)
40,185
40,185
40,185		 2023
£
983
21,776
215
21,991
(1,741)
20,250
21,234
21,234

8

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM BALANCE SHEET {CONTINUED) AS AT 30 APRIL 2024 In preparing this financiol statement.. l. The directors are of the opinion thal the company is entitled to exemption from audil under section 477121 of the Companies Act 2006 reloling to small companies. 2. No notice hos been deposited under section 476 of Ihe Companies Act 2006 and 3. The directors acknowledge their responsibilities for . En5vring that the company keep accounting records which comply with section 386 of the Companies Act 2006 and . Preparing accounls which give true and fair view of the state of offairs of the compony as at the end of the financial year and OT it's surplu5 and deficit in accordance with Ihe requirements of section 396. and which otherwise comply with the requirements of this Act relating to occounts. so far as applicable to the company. This financial statement heve been prepored in occordance with the provisions applicable to companies subject to the smoll componies regime. Approved on behalf of the board of truslees on the 2&-PA 2025. MT Lawrence Olubunml FaJembolo Trustee Mr Ablmbola Adetoye Trustee

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2024

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.

10

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2024

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%

11

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2024

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		 2024
Unrestricted
Fund
£
96,169
14,173
87
110,429
1,391
1,391
16,800
253
12,460
521
7,848
37,882
1,225
983
2,353
1,382
235
540
2,496
756
9,970		 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

12

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2024

6.
Management and Administration
Legal, Professional and Consultancy
Staff Remuneration
Social Security Costs
Staff Pension Costs
Housing/Accommodation
Thanksgiving Services
7.
Cost
At 01/05/23
Additions
Disposal
At 30/04/24
Accumulated Depreciation
At 01/05/23
Depreciation for the year
At 30/04/24
At 30/04/24
At 30/04/23
8.
Debtors
Staff advance		 2024
£
950
14,400
1,400
720
15,595
9,170
42,235
Church
Equipments
£
19,086
-
-
19,086
18,103
983
19,086
0
984
2024
£
32,270
32,270		 2023
£
1,204
14,400
731
331
15,397
16,606
48,669
Total
£
19,086
-
-
19,086
18,103
983
19,086
0
984
2023
£
21,776
21,776

13

THE REDEEMED CHRISTIAN CHURCH OF GOD RIVERS OF JOY DAGENHAM

NOTES TO THE FINANCIAL STATEMENTS (Contd) YEAR ENDED 30 APRIL 2024

9.
Creditors
Accountants Fees
Tax, Social Security & Pension
10. Movement in funds
Unrestricted Funds
Opening balance
Total Income
Total Expenses
Closing balance		 2024
£
950
-
950
Unrestricted
Funds
£
21,234
110,429
(91,478)
40,185		 2023
£
880
861
1,741
Unrestricted
Funds
£
14,948
117,796
(111,510)
21,234

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.

14