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2021-12-31-accounts

CHARITY REGISTRATION NUMBER: 1171221

The Redeemed Christian Church of GOD CRA Unaudited Financial Statements 31 December 2021

GM ACCOUNTANCY

Chartered accountants 472A BEARWOOD ROAD SMETHWICK WEST MIDLANDS ENGLAND B66 4HA

The Redeemed Christian Church of GOD CRA

Financial Statements

Year ended 31 December 2021

Page
Trustees' annual report 1
Report to The Redeemed Christian Church of GOD CRA on the
unaudited financial information 5
Statement of financial activities 6
Statement of financial position 7
Statement of cash flows 8
Notes to the financial statements 9
The following pages do not form part of the financial statements
Detailed statement of financial activities 15
Notes to the detailed statement of financial activities 16

The Redeemed Christian Church of GOD CRA

Trustees' Annual Report

Year ended 31 December 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.

Chair's report

THE REDEEMED CHRISTIAN CHURCH OF GOD COVENANT RESTORATIONASSEMBLY

WORCESTER

Aim and purposes

The purpose of RCCG COVENANT RESTORATION ASSEMBLY WORCESTER: Is the advancement of Christian faith for the benefit of the public and the relief of poverty in accordance with the doctrines set out in them statement of faith contained in the schedule. - Preaching the gospel of Jesus Christ - To advance education and empower individuals through Christian principles- Building relationships and the family

OBJECTIVES AND ACTIVITIES

The Redeemed Christian church of God Statement is 'to be a living witness to God within our Local community, our Immediate church and beyond'. Redeemed Christian Church of God, Covenant Restoration Assembly Worcester, Report of the Trustees for The Year Ended 31st October 2021 the trustees present their report with the financial statements of the charity for the year ended 31 October 2021 is in accordance with the Statement on public benefit. The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)

STRUCTURE, GOVERNANCE AND ANAGEMENT

Trustees are given an understanding of the charity's objectives and the requirements of the Charity Commission. They are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Charity Commission bulletins/updates are also forwarded to Trustees as and when issued. The church is organised such that the day to day running of the church has been delegated to the Parish Pastor. The Trustees are consulted on all material issues and determine the strategic direction of the charity. Trustees meet formally once a year and as and when required to review the operations of the charity.

Related parties

Covenant Restoration Assembly Worcester is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The relationship is governed by an 'Agreement for Common Purposes' between the parishes and RCCG. Risk management the trustees have a duty to identify and review the risks to which the charity is exposed, and appropriate controls are in place to provide reasonable assurance against fraud and error

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The Redeemed Christian Church of GOD CRA

Trustees' Annual Report (continued)

Year ended 31 December 2021

ACHIEVEMENTS OF THE YEAR

Acts of worship, pastoral care, and mission

During the year, the Church delivered a wide range of activities and events to the community through the various services and conferences held. This includes specific activities for women and men as well as activities for the youth and children. Sharing the gospel of Jesus Christ is especially beneficial to the lives of the people that hear and receive it. It brings Hope, Faith, and Love. The Church held weekly Bible study meeting this bible study meetings gives opportunities for people to develop their faith and move forward in their discipleship. The bible study is open to all people without charge, throughout the year. As well as Sunday services held at the church Auditorium. The church also holds prayer meetings and other activities online via Zoom. We also meet on Saturday for Evangelism this guide members in their spiritual development to equip them to reach out in mission to those in their communities. The Church provided acts of worship for people of all ages, including various Church events for children and families. The Church supports the Youth church to build relationships and develop mission with youngsters here and elsewhere in the Community. Welfare of Member and our local community is a key part of our activities. We give Vouchers to people in need of Provision and food.

Volunteers

The charity's volunteers provide an invaluable contribution in various areas of service provision, development, and implementation of the church's vision. We provide a volunteers' training programme that caters for their welfare, spiritual and socio-economic development.

FINANCIAL REVIEW

The Trustees continue to place emphasis on financial management to ensure that the funds within the organisation are property managed. These are good budget controls, and they continue to monitor costs to deliver a balanced budget for the future. Reserves The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the Charity's activities and are working towards achieving it. Going concern at the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

Approved by order of the board of trustee on 15/10/2022 and signed on its behalf by


Dr Oladele Odusami

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The Redeemed Christian Church of GOD CRA

Trustees' Annual Report (continued)

Year ended 31 December 2021

Reference and administrative details

Registered charity name The Redeemed Christian Church of GOD CRA Charity registration number 1171221

Principal office

The trustees

Mr Adegoke Mr Odusami Mr Arowolo Accountants GM ACCOUNTANCY Chartered accountants 472A BEARWOOD ROAD SMETHWICK WEST MIDLANDS ENGLAND B66 4HA

Objectives and activities

We are a friendly, diverse community church in the heart of Worcester, we seek to fulfil our objectives through extensive relevant programs in and outside the community. We believe in the propagation of the gospel of the lord Jesus and to lead people to a growing relationship and fellowship in Christ Jesus. Our vision is the continuous growing of doctrinal teaching, Church planting and transformation, helping the needy and advancing the church faith within our community in Worcester and environ.

TO SPREAD AND PROPAGATE THE FULL GOSPEL OF OUR LORD JESUS CHRIST AND PRIMARILY BUT NOT EXCLUSIVELY THE FUNDAMENTAL TRUTHS SET FORTH IN OUR CONSTITUTION

Our church continues to grow with different programmes and activities carried out during the course of the year to impact the life of the parishioners and the community at large. Our aim is to fulfil our calling in the lord Jesus, which is to respond to the gospel of God's love in Christ and to live out its discipleship in worship and mission. which is to Worship and to celebrate God's love, Learning and caring, Service to be a good neighbour to people in need and Evangelism to make more followers of Jesus Christ. We continue to have our services in the morning and a mid-week service on Wednesday, a breakfast prayer meeting on the first Saturday of the month and a monthly prayer meeting every Friday of the month. We also have the children and youth church with different activities and programmes organised for that age group. We have also been working closely with other churches and organisation within the community. Most especially the Gideon bible society. We also have the Beacon group that meet in the church every Tuesday to fellowship and attend to the need of the homeless and those coming out of drugs and substance abuse. During the year we also had significant improvement to our worship Auditorium with new fittings, a new place for the youth and the media team with purchase of new music equipment for the choir’s team. Social Action The welfare team meet regularly to organise activities that benefit the church member and our local community, The beacon group go out on trips regularly. We hosted end of the year party and invited the less privilege in the community, we also go out the evangelise and speak to people at the city centre

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The Redeemed Christian Church of GOD CRA

Trustees' Annual Report (continued)

Year ended 31 December 2021

Objectives and activities (continued)

We are mindful of the trust assigned to us when church member donates and give to the charity .It is important that we do not jeopardise our main source of income and maintain a solid case for support. Financial protocols and disciplines have been well established, and performance at all levels is a specific matter of verification during annual audit process. Discipline in process is critical in maintaining the high integrity levels which are foundational to encouraging the trust of ours member. The charity income are mostly from voluntary donations and giving by church members and those visiting and attending our services. Donation for the year ending 31th December 2018 was -----

Trustee Dr O Odusami Pst Joshua Arowolo Pst Niyi Adegoke :

Approved by order of the board of trustee on 15/10/2022 and signed on its behalf by

-------------------------------------------Dr Oladele Odusami

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The Redeemed Christian Church of GOD CRA

Report to The Redeemed Christian Church of GOD CRA on the Unaudited Financial Information of The Redeemed Christian Church of GOD CRA

Year ended 31 December 2021

As described on the statement of financial position, the trustees of the charity are responsible for the preparation of the financial statements for the year ended 31 December 2021, which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes.

You consider that the charity is exempt from an audit under the Charities Act 2011.

In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

GM ACCOUNTANCY Chartered accountants

472A BEARWOOD ROAD SMETHWICK WEST MIDLANDS ENGLAND B66 4HA

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The Redeemed Christian Church of GOD CRA

Statement of Financial Activities

Year ended 31 December 2021

2021 2020
Unrestricted
fundsTotal funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 47,322 47,322 50,788
──────── ──────── ────────
Total income 47,322 47,322 50,788
════════ ════════ ════════
Expenditure
Expenditure on charitable activities 5,6 38,340 38,340 35,965
──────── ──────── ────────
Total expenditure 38,340 38,340 35,965
════════ ════════ ════════
──────── ──────── ────────
Net income and net movement in funds 8,982 8,982 14,823
════════ ════════ ════════
Reconciliation of funds
Total funds brought forward 35,315 35,315 20,492
──────── ──────── ────────
Total funds carried forward 44,297 44,297 35,315
════════ ════════ ════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 9 to 13 form part of these financial statements.

6

The Redeemed Christian Church of GOD CRA

Statement of Financial Position

31 December 2021

2021 2020
Note £ £
Fixed assets
Tangible fixed assets 9 24,081 17,181
Current assets
Cash at bank and in hand 20,216 18,134
──────── ────────
Net current assets 20,216 18,134
──────── ────────
Total assets less current liabilities 44,297 35,315
════════ ════════
Funds of the charity
Unrestricted funds 44,297 35,315
──────── ────────
Total charity funds 10 44,297
════════
35,315
════════

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

Mr Arowolo Trustee

The notes on pages 9 to 13 form part of these financial statements.

7

The Redeemed Christian Church of GOD CRA

Statement of Cash Flows

Year ended 31 December 2021

2021 2020
£ £
Cash flows from operating activities
Net income 8,982 14,823
Adjustments for:
─────── ────────
Cash generated from operations 8,982 14,823
─────── ────────
Net cash from operating activities 8,982 14,823
═══════ ════════
Cash flows from investing activities
Purchase of tangible assets (6,900)
─────── ────────
Net cash used in investing activities (6,900)
═══════ ════════
Net increase in cash and cash equivalents 2,082 14,823
Cash and cash equivalents at beginning of year 18,134 3,311
──────── ────────
Cash and cash equivalents at end of year 20,216 18,134
════════ ════════

The notes on pages 9 to 13 form part of these financial statements.

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The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Vesta Tilley House, Lowesmoor, Worcester, WR1 2RS, Worcestershire.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

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The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2021

3. Accounting policies (continued)

Financial instruments (continued)

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Donations
Donations and Legacies 40 40
Church Donations 35,394 35,394 37,440 37,440
Grants
HMRC Gift Aid 11,928 11,928 10,108 10,108
Grant from Worcestershire 3,200 3,200
──────── ──────── ──────── ────────
47,322 47,322 50,788 50,788
════════ ════════ ════════ ════════

5. Expenditure on charitable activities by fund type

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Activities Funded By Church Donations 38,340
════════
38,340
════════
35,965
════════
35,965
════════

6. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly 2021 2020
£ £ £
Activities Funded By Church Donations 38,340 38,340 35,965
════════ ════════ ════════

7. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2021 2020
£ £

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The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2021

7. Staff costs (continued)

The average head count of employees during the year was Nil (2020: Nil).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

8. Trustee remuneration and expenses

9. Tangible fixed assets

Plant and Motor
machinery vehicles Total
£ £ £
Cost
At 1 January 2021 17,181 17,181
Additions 6,900 6,900
──────── ─────── ────────
At 31 December 2021 17,181 6,900 24,081
════════ ═══════ ════════
Depreciation
At 1 January 2021 and 31 December 2021
════════ ═══════ ════════
Carrying amount
At 31 December 2021 17,181 6,900 24,081
════════ ═══════ ════════
At 31 December 2020 17,181 17,181
════════ ═══════ ════════

10. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 January 202 31 December
1
Income
Expenditure 2021
£ £ £ £
General funds 35,315
47,322
(38,340)
44,297
════════
════════
════════ ════════
At At
1 January 202 31 December
0
Income
Expenditure 2020
£ £ £ £
General funds 20,492
50,788
(35,965)
35,315
════════
════════
════════ ════════
Analysis of changes in net debt
At
At 1 Jan 2021 Cash flows 31 Dec 2021
£ £ £
Cash at bank and in hand 18,134 2,082 20,216
════════ ═══════ ════════

11. Analysis of changes in net debt

13

The Redeemed Christian Church of GOD CRA

Management Information

Year ended 31 December 2021

The following pages do not form part of the financial statements.

14

The Redeemed Christian Church of GOD CRA

Detailed Statement of Financial Activities

Year ended 31 December 2021

2021 2020
£ £
Income and endowments
Donations and legacies
Donations and Legacies 40
Church Donations 35,394 37,440
HMRC Gift Aid 11,928 10,108
Grant from Worcestershire 3,200
──────── ────────
47,322 50,788
──────── ────────
──────── ────────
Total income 47,322 50,788
════════ ════════
Expenditure
Expenditure on charitable activities
Rent 7,800 7,800
Light and heat 3,642 1,824
Repairs and maintenance 11,146 10,476
Insurance 480 480
Other establishment 3,946 4,125
Other motor/travel costs 4,035 4,125
Legal and professional fees 400 400
Telephone 839 846
Catering and Entertainment 1,458 1,262
Stationery 886 822
COF 2,500 720
WCC 600 2,485
Donnations To Local Parishes 608 600
──────── ────────
38,340 35,965
──────── ────────
──────── ────────
Total expenditure 38,340 35,965
════════ ════════
──────── ────────
Net income 8,982 14,823
════════ ════════

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The Redeemed Christian Church of GOD CRA

Notes to the Detailed Statement of Financial Activities

Year ended 31 December 2021

2021 2020
£ £
Expenditure on charitable activities
Activities Funded By Church Donations
Activities undertaken directly
Rent 7,800 7,800
Light & heat 3,642 1,824
Repairs & maintenance 11,146 10,476
Insurance 480 480
Cleaning and Decorations 3,946 4,125
Other motor/travel costs 4,035 4,125
Legal and professional fees 400 400
Telephone 839 846
Catering and Entertainment 1,458 1,262
Stationery 886 822
COF 2,500 720
WCC 600 2,485
Donnations To Local Parishes 608 600
──────── ────────
38,340 35,965
──────── ────────
──────── ────────
Expenditure on charitable activities 38,340 35,965
════════ ════════

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