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2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 1171221

The Redeemed Christian Church of GOD CRA Unaudited Financial Statements

31 December 2024

GM ACCOUNTANCY

Certified Accountants 472 BEARWOOD ROAD SMETHWICK WEST MIDLANDS ENGLAND B66 4HA

The Redeemed Christian Church of GOD CRA

Financial Statements

Year ended 31 December 2024

Page
Trustees' annual report 1
Independent examiner's report to the trustees 3
Statement of financial activities 4
Statement of financial position 5
Statement of cash flows 6
Notes to the financial statements 7
The following pages do not form part of the financial statements
Detailed statement of financial activities 14
Notes to the detailed statement of financial activities 15

The Redeemed Christian Church of GOD CRA

Trustees' Annual Report

Year ended 31 December 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Chair's report

The trustee of the Redeemed Christian church of God Covenant Restoration assembly are pleased to present these annual report and financial statement of charity for the year ending 31th December 2018.This is to meet the requirement for the account submission to the charity commission. In preparing this report the guidance and requirement issued by the charity commission have been followed.

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

Independent examiner Godfrey Massa ( Certified Accountant) 472 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

1

The Redeemed Christian Church of GOD CRA

Trustees' Annual Report (continued)

Year ended 31 December 2024

Objectives and activities (continued)

Our church continue 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 last 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 with in 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 choirs 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

We are mindful of the trust assigned to us when church member donate 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 Signature Dr O Odusami Pst Joshua Arowolo Pst Niyi Adegoke

The trustees' annual report was approved on ........24/10/25...................... and signed on behalf of the board of trustees by:

Mr Arowolo Trustee Be

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The Redeemed Christian Church of GOD CRA

Independent Examiner's Report to the Trustees of The Redeemed Christian Church of GOD CRA

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of The Redeemed Christian Church of GOD CRA ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Godfrey Massa ( Certified Accountant) Independent Examiner

472 BEARWOOD ROAD SMETHWICK WEST MIDLANDS ENGLAND B66 4HA

3

The Redeemed Christian Church of GOD CRA

Statement of Financial Activities

Year ended 31 December 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 93,451 93,451 60,411
---------------------------- -------------- ---------------------------- ----------------------------
Total income 93,451 93,451 60,411
============================ ============== ============================ ============================
Expenditure
Expenditure on charitable activities 5,6 97,260 2,000 99,259 60,684
---------------------------- ----------------------- ---------------------------- ----------------------------
Total expenditure 97,260 2,000 99,259 60,684
============================ ======================= ============================ ============================
---------------------------- ----------------------- ---------------------------- ----------------------------
Net expenditure and net movement in
funds (3,809) (2,000) (5,808) (273)
============================ ======================= ============================ ============================
Other recognised gains and losses
Other recognised gains/(losses) 44,297 44,297 44,297
---------------------------- ----------------------- ---------------------------- ----------------------------
Net movement in funds 40,488 (2,000) 38,489 44,024
Reconciliation of funds
Total funds brought forward 4,310 4,310 4,583
---------------------------- ----------------------- ---------------------------- ----------------------------
Total funds carried forward 44,798 (2,000) 42,798 48,568
============================ ======================= ============================ ============================

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 7 to 12 form part of these financial statements.

4

The Redeemed Christian Church of GOD CRA

Statement of Financial Position

31 December 2024

2024 2023
Note £ £
Fixed assets
Tangible fixed assets 10 39,216 39,216
Current assets
Cash at bank and in hand 3,583 9,391
----------------------- -----------------------
Net current assets 3,583 9,391
---------------------------- ----------------------------
Total assets less current liabilities 42,799 48,607
============================ ============================
Funds of the charity
Restricted funds (2,000)
Unrestricted funds 44,798 48,568
---------------------------- ----------------------------
Total charity funds 11 42,798
============================
48,568
============================

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 Oe

The notes on pages 7 to 12 form part of these financial statements.

5

The Redeemed Christian Church of GOD CRA

Statement of Cash Flows

Year ended 31 December 2024

2024 2023
£ £
Cash flows from operating activities
Net expenditure (5,808) (273)
Adjustments for:
Interest payable and similar charges 1,692 199
----------------------- --------------
Cash generated from operations (4,116) (74)
Interest paid (1,692) (199)
----------------------- --------------
Net cash used in operating activities (5,808) (273)
======================= ==============
Cash flows from investing activities
Purchase of tangible assets (14,480)
----------------------- ----------------------------
Net cash used in investing activities (14,480)
======================= ============================
Net decrease in cash and cash equivalents (5,808) (14,753)
Cash and cash equivalents at beginning of year 9,391 24,144
----------------------- ----------------------------
Cash and cash equivalents at end of year 3,583 9,391
======================= ============================

The notes on pages 7 to 12 form part of these financial statements.

6

The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements

Year ended 31 December 2024

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.

7

The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2024

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

8

The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

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.

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.

9

The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Financial instruments (continued)

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.

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 2024 Funds 2023
£ £ £ £
Donations
Donations and Legacies 68,814 68,814
Church Donations 40,195 40,195
Grants
HMRC Gift Aid 24,637 24,637 20,216 20,216
---------------------------- ---------------------------- ---------------------------- ----------------------------
93,451 93,451 60,411 60,411
============================ ============================ ============================ ============================

5. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Activities Funded By Church Donations 97,260 2,000 99,259
============================ ======================= ============================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Activities Funded By Church Donations 60,723 60,684
============================ ============== ============================

10

The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2024

6. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly 2024 2023
£ £ £
Activities Funded By Church Donations 99,259 99,259 60,684
============================ ============================ ============================
7. Net expenditure
Net expenditure is stated after charging/(crediting):
2024 2023
£ £
Operating lease rentals 150
============== ==============
8. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 5,400
======================= ==============
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).

9. Trustee remuneration and expenses

10. Tangible fixed assets

Plant and Motor
machinery vehicles Equipment Total
£ £ £ £
Cost
At 1 January 2024 and
31 December 2024 31,661 6,900 655 39,216
============================ ======================= ============== ============================
Depreciation
At 1 January 2024 and
31 December 2024
============================ ======================= ============== ============================
Carrying amount
At 31 December 2024 31,661 6,900 655 39,216
============================ ======================= ============== ============================
At 31 December 2023 31,661 6,900 655 39,216
============================ ======================= ============== ============================

11

The Redeemed Christian Church of GOD CRA

Notes to the Financial Statements (continued)

Year ended 31 December 2024

11. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 January 20 Gains and 31 Decembe
24 Income Expenditure losses r 2024
£ £ £ £ £
General funds 4,310 93,451 (97,260) 501
Unrestricted fund 7 -
desc in a/cs 44,297 44,297
----------------------- ---------------------------- ---------------------------- ---------------------------- ----------------------------
4,310 93,451 (97,260) 44,297 44,798
======================= ============================ ============================ ============================ ============================
At At
1 January 20 Gains and 31 December
23 Income Expenditure losses 2023
£ £ £ £ £
General funds 4,583 60,411 (60,723) 4,271
Unrestricted fund 7 -
desc in a/cs 44,297 44,297
----------------------- ---------------------------- ---------------------------- ---------------------------- ----------------------------
4,583 60,411 (60,723) 44,297 48,568
======================= ============================ ============================ ============================ ============================
Restricted funds
At At
1 January 20 Gains and 31 Decembe
24 Income Expenditure losses r 2024
£ £ £ £ £
Restricted Fund 1 - desc
in a/cs (2,000) (2,000)
============== ============== ======================= ============== =======================
At At
1 January 20 Gains and 31 December
23 Income Expenditure losses 2023
£ £ £ £ £
Restricted Fund 1 - desc
in a/cs
============== ============== ============== ============== ==============
12. Analysis of changes in net debt
At At
1 Jan 2024 Cash flows 31 Dec 2024
£ £ £
Cash at bank and in hand 9,391 (5,808)
3,583
======================= ======================= =======================

12

The Redeemed Christian Church of GOD CRA

Management Information

Year ended 31 December 2024

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

13

The Redeemed Christian Church of GOD CRA

Detailed Statement of Financial Activities

Year ended 31 December 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Donations and Legacies 68,814
Church Donations 40,195
HMRC Gift Aid 24,637 20,216
---------------------------- ----------------------------
93,451 60,411
---------------------------- ----------------------------
---------------------------- ----------------------------
Total income 93,451 60,411
============================ ============================
Expenditure
Expenditure on charitable activities
Wages and salaries 5,400
Operating leases 150
Rent 11,200 7,570
Rates and water 4,280 3,622
Light and heat 3,875 1,414
Repairs and maintenance 34,943 3,914
Insurance 846 564
Other establishment 305
Other motor/travel costs 10,694 12,331
Legal and professional fees 4,175 2,613
Telephone 818
Other office costs 4,211 5,870
Interest on debenture loans 1,692 199
Catering and Entertainment 6,406 5,209
Stationery 2,145 3,456
COF 380 380
World Evangelical 5,200 5,520
WCC 111
Donnations To Local Parishes 3,058 4,193
World Evangelical Ministries 1,690
Website 169 169
Zoom 585 586
---------------------------- ----------------------------
99,259 60,684
---------------------------- ----------------------------
---------------------------- ----------------------------
Total expenditure 99,259 60,684
============================ ============================
---------------------------- ----------------------------
Net expenditure (5,808) (273)
============================ ============================

14

The Redeemed Christian Church of GOD CRA

Notes to the Detailed Statement of Financial Activities

Year ended 31 December 2024

2024 2023
£ £
Expenditure on charitable activities
Activities Funded By Church Donations
Activities undertaken directly
Direct charitable activity 1 - wages/salaries 5,400
Direct charitable activity 1 - operating leases 150
Rent 11,200 7,570
Direct charitable activity 1 - rates & water 4,280 3,622
Light & heat 3,875 1,414
Repairs & maintenance 34,943 3,914
Insurance 846 564
Cleaning and Decorations 305
Other motor/travel costs 10,694 12,331
Legal and professional fees 4,175 2,613
Telephone 818
Direct charitable activity 1 - other office costs 4,211 5,870
Bank Charges 1,692 199
Catering and Entertainment 6,406 5,209
Stationery 2,145 3,456
COF 380 380
World Evangalical 5,200 5,520
WCC 111
Donnations To Local Parishes 3,058 4,193
World Evangelical Ministries 1,690
Website 169 169
Zoom 585 586
---------------------------- ----------------------------
99,259 60,684
---------------------------- ----------------------------
---------------------------- ----------------------------
Expenditure on charitable activities 99,259 60,684
============================ ============================

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