THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH TRUSTEES' REPORT AND ACCOUNTS YEAR ENDED 31ST MARCH 2022
CHARITY REGISTRATION NO: 1171320 CHARITY COMPANY NO: 09872320
THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2022
| CONTENTS | PAGE |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | 1 |
| REPORT OF THE TRUSTEES | 2 - 5 |
| REPORT OF THE INDEPENDENT EXAMINERS | 6 |
| STATEMENTS OF FINANCIAL ACTIVITIES | 7 |
| BALANCE SHEET | 8 |
| NOTES TO THE FINANCIAL STATEMENTS | 9- 12 |
| INCOME AND EXPENDITURE | 13 |
1
THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST MARCH 2022
CHARITY REGISTRATION NUMBER: 1171320 REGISTERED OFFICE: 67 Christ Church Avenue Rainham Essex RM13 8JA TRUSTEES: Oyekunle Onifade (Chair) Olufunke Sonibare Samuel Obareti ACCOUNTANT Allen Robyn & Associates Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH REPORT OF THE TRUSTEES YEAR ENDED 31ST MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number : 1171320
Registered address
67 Christ Church Avenue Rainham Essex RM13 8JA
Trustees
Oyekunle Onifade Olufunke Sonibare Samuel Obareti
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its memorandum and articles , and constitutes an charitable incorporated company. The Church was formed on the 18th November 2007 and registered as a CIO on 13th November 2015. It is managed by a board of trustee and assisted by a Pastor, who is the Minister incharge.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
The Charity's objects are:
- The advancement of The Christian faith worldwide, providing religious knowledge and to promote principles of morality, benevolence and charity
The main activities in relation to these objects are:
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~ Preaching the Gospel of Jesus Christ.
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~ To advance education in accordance with Christian principles.
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~ Poverty Alleviation locally and overseas
The Charity through the trustees seek to ensure that all grants made are in keeping with the objects as is stipulated in the Governing document and those grants are used for such purposes through monitoring and evaluation process.
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH REPORT OF THE TRUSTEES YEAR ENDED 31ST MARCH 2022
ACHIEVEMENST AND PERFORMANCE - during the 2021/22 financial year Charitable Activities
The charity engaged in several main activities in pursuance of it's charitable aims during the year under review. The trustees consider that these activities, summarised below, provided valuable benefits to both those who worship with the church and the community at large.
Our regular services are on Sundays from 8:30 am to 12.30 in the after noon. We also have Wednesday bible studies from 7:00pm to 8:30 pm and on Fridays our prayer meetings and communion services from 7:00pm to 9:00pm.
The Church and its events were significantly affected by the Covid-19 restriction in the early part of the financial year this continued to prevent us from operating in the normal way. Now that restrictions are fully lifted we have not been able to gather as much as we would have liked due to not having our own premises. However, in this reporting year, the church started to hire a hall to have Sunday services in physical gathering while other services and programmes were run virtually through zoom. It has not been the same as before the Covid19 and the lack of required premises made the activities run differently and in unusual settings.
THE UPPER ROOM PRAYER CONFERENCE: 19th June - 9th July
This conference was held as a twenty one days event of fasting and prayer similar to last year. However we had a weekly physical session in addition to the daily virtual sessions.
It was a critical period in the lives of every member, in the community, our nation and the world which required intense and continuous prayer for solution to ongoing pandemic, peace in the warring nations, comfort to the bereaved, healings to the broken hearted and the sick both physically and emotionally, peace in the home etc. There were so many issues to address through prayer. This necessitated a prolonged period of fasting and prayer.
We held prayer sessions physically on Sundays and virtually every evening, early morning and a few night prayer vigils.
FEED THE HUNGRY / LOVE CHRISTMAS – October and December 2021
THE REDEEMED CHRISTIAN CHURCH – EMBASSY OF FAITH as a church are committed to the spiritual and social transformation of individuals and our communities in the nation.
Hundreds of people over the years have benefited from this social welfare scheme in the rehabilitation of the homeless, drug addicts and other social miscreants.
The winter 2021/22 Edition of Feed The Hungry project this year was still run under the banner of ‘LOVE CHRISTMAS’
Taking into consideration the lingering effects of Covid-19 the food items were given out as donation in packs as last year to centres run by Ilford Welcome Centre, Salvation Army, Night Shelter and various other charity organisations.
‘To love God and to love our neighbours as ourselves, therein lies the whole duty of Christianity.
'Blessed is he who considers the poor, the Lord will deliver him in time of trouble'... Psalm 41:1-3.
'He who has pity on the poor lends to the Lord and He will pay back'... Proverbs 19:17.
We have and continue to discharge accordingly a compelling sense of responsibility to our community which is rooted in the love of Christ.
50 DAYS PRAYER & FASTING : 11th January -2nd March 2022
The church observed a daily fasting and prayer every day for fifty days. During the fifty days church service for corporate prayer was held virtually every day and in physical gathering every Sunday. During this period intense prayer was offered for ; Families, marriages, children, our community, Borough, People in government, Our Nation UK, other nations where there are conflicts, businesses, careers, revival, the sick, the needy, salvation of souls etc.
MOTHERS DAY 14[th] March 2022
Community lunch event in take away packs was held
The annual seminars and teachings were done both in physical gathering and virtually for the sake of those who could not attend the physical gathering. This however gives opportunity to some people outside our geographically location to take part.
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH REPORT OF THE TRUSTEES YEAR ENDED 31ST MARCH 2022
MT. CARMEL RETREAT 26th -28th November 2021
This event was held differently this year virtually on Friday and Saturday, it was concluded with a physical gathering in a hired community hall. The lingering effect of Covid-19 did not permit the event to hold as a weekend residential.
MOVING FORWARD
The Church has a number of exciting activities laid out for the coming year, which includes:
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Feed the Hungry Program
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Our Good Women Conference and Women of Destiny Conference
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Father Day Community Breakfast and Celebrations
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Marriage and Worker Seminars
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Sports and Multicultural day
FINANCIAL REVIEW
The Charity's financial statement for the year ended 31st March 2022 shows Income of £81,720 (2021: £118,636). Expenditure was £60,827(2021: £92,923) and the Church made a net surplus in funds of £20,893 ( 2021: £25,713) . Unrestricted reserves at 31st March 2022 is £183,916 (2021: £223,726), whilst Restricted funds are £95,436 (2021: 34,733).
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ON BEHALF OF THE BOARD:
Accountants
The accountants, Allen Robyn & Associates ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.
ON BEHALF OF THE BOARD:
............................................. Oyekunle Onifade - Trustee Date: 15/10/2022
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH REPORT OF THE INDEPENDENT EXAMINERS YEAR ENDED 31ST MARCH 2022
I report on the accounts for the year ended 31st March 2022 set out on pages seven to twelve.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's 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 required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow 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 the 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 you as 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 the report is limited to those matters set out in the statements
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 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts 'to be reached.
………………………………………..
Rolston Allen (FCCA)
Allen Robyn & Associates Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ Date: 21/10/2022
7
THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST MARCH 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| INCOMING RESOURCES | Notes | 2022 | 2021 |
| Incoming resources from generated funds | |||
| Voluntary income | 2 | 81,720 | 118,636 |
| 81,720 | 118,636 | ||
| RESOURCES EXPENDED | |||
| Charitable Activities | 3 | 49,666 | 74,748 |
| Governance Cost | 4 | 2,915 | 2,869 |
| Support Cost | 5 | 8,185 | 15,306 |
| Finance Charges | 6 | 61 | - |
| TOTAL RESOURCES EXPENDED | 60,827 | 92,923 | |
| NET INCOME/EXPENDITURE FOR THE YEAR | £20,893 | £25,713 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 258,459 | 232,746 | |
| TOTAL FUND CARRIED FORWARD | £279,352 | £258,459 |
None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2022 or 2021 other than those included in the statement of financial activities.
The notes on pages 7 to 10 form part of these accounts.
8
THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH BALANCE SHEET YEAR ENDED 31ST MARCH 2022
| FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand CREDITORS: due within one year TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS: Restricted Funds Unrestricted Funds |
Notes 8 9 10 10 |
Unrestricted 2022 - - 280,332 280,332 (£980) £279,352 2022 95,436 183,916 £279,352 |
Unrestricted | Unrestricted | Unrestricted |
|---|---|---|---|---|---|
| 2021 6,600 259,635 259,635 (£1,176) £258,459 2021 34,733 223,726 £258,459 |
2021 6,600 259,635 |
2021 | |||
| 259,635 | |||||
| (£1,176) |
The financial statements were approved by the Trustees on…15/10/2022... and were signed on its behalf by:
……………………………………. Oyekunle Onifade - Trustee
The notes on pages 9 to 12 form part of these accounts.
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102) .The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Accounting convention
The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Tithes & Offerings
Income from tithes and offerings, is included in incoming resources when these are receivable Investment Income
Investment income consists of net interest received during the year and accounted for as unrestricted fund
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives Church. These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities including apportioned support cost.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tangible Assets 20% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2022
| 2. VOLULTARY INCOME Tithes and offerings Other income HMRC - Furlough schene Building fund Gift aid Interest Total incoming resources 3. CHARITABLE ACTIVITIES Salaries and wages Rent Manse expenses World evangelical ministry Conference expenses Advertisement and promotion Donations to night and welcome centres Honorarium Central office Subscriptions and contributions Musicians Expenses Training 4. GOVERNANCE COST Acountancy and Examiners fee 5. SUPPORT COSTS: MANAGEMENT Office expenses and telephone Repairs and cleaning Insurance General expenses Storage fees 6. SUPPORT COSTS: FINANCE CHARGES Bank Charges |
2022 2021 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 2022 2021 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 313 - 49,666 74,748 2022 2021 £2,915 £2,869 2022 2021 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 2022 2021 £61 - |
2022 2021 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 2022 2021 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 313 - 49,666 74,748 2022 2021 £2,915 £2,869 2022 2021 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 2022 2021 £61 - |
2022 2021 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 2022 2021 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 313 - 49,666 74,748 2022 2021 £2,915 £2,869 2022 2021 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 2022 2021 £61 - |
2021 |
|---|---|---|---|---|
| 2021 22,793 30,796 14,950 1,800 - 130 2,637 600 600 129 313 74,748 2021 £2,869 2021 312 2,084 7,005 - 5,905 £15,306 |
2021 22,793 30,796 14,950 1,800 - 130 2,637 600 600 129 313 74,748 |
2021 | ||
| 2021 £2,869 |
2021 | |||
| 2021 | ||||
| 312 2,084 7,005 - 5,905 |
||||
| 2021 | ||||
| - |
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31ST MARCH 2022
7. STAFF COSTS
No employee received remuneration of more than £60,000.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2022.
| Salaries and wages The average number of employees analysed by function : 8. FIXED ASSETS Fixtures and Fittings COST At 1st April 2021 29,811 As at 31st March 2022 29,811 DEPRECIATION Opening Balance 29,811 £29,811 NET BOOK VALUE As at 31st March 2022 £0 As at 31st March 2021 £0 9. CREDITORS : Amounts falling due after one year Other Creditors |
2022 2021 £22,549 £22,000 2022 2021 1 1 Fixtures and Fittings Total 5,090 34,901 5,090 34,901 5,090 34,901 £5,090 £34,901 £0 £0 £0 £0 2022 2021 £980 £1,176 |
2022 2021 £22,549 £22,000 2022 2021 1 1 Fixtures and Fittings Total 5,090 34,901 5,090 34,901 5,090 34,901 £5,090 £34,901 £0 £0 £0 £0 2022 2021 £980 £1,176 |
2022 2021 £22,549 £22,000 2022 2021 1 1 Fixtures and Fittings Total 5,090 34,901 5,090 34,901 5,090 34,901 £5,090 £34,901 £0 £0 £0 £0 2022 2021 £980 £1,176 |
2022 2021 £22,549 £22,000 2022 2021 1 1 Fixtures and Fittings Total 5,090 34,901 5,090 34,901 5,090 34,901 £5,090 £34,901 £0 £0 £0 £0 2022 2021 £980 £1,176 |
2021 |
|---|---|---|---|---|---|
| £0 £0 2021 £1,176 |
£0 £0 2021 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2022
| 10. MOVEMENTS IN FUNDS Restricted Funds Building Fund Unrestricted Funds General Fund Restricted Fund Transfer between funds Unrestricted Funds Total funds |
01/04/2021 34,733 223,726 £258,459 |
Incoming Resources £3,710 £78,010 £81,720 Transfers 56,993 (56,993) - |
Resources | Movement in Funds | Movement in Funds | Movement in Funds | Movement in Funds |
|---|---|---|---|---|---|---|---|
| Expended - £60,827 £60,827 Movement £3,710 £17,183 £20,893 |
|||||||
| £3,710 £17,183 £20,893 31/03/2022 |
£3,710 £17,183 |
||||||
| £20,893 | |||||||
| £95,436 £183,916 |
|||||||
| £279,352 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD EMBASSY OF FAITH INCOME AND EXPENDITURE YEAR ENDED 31ST MARCH 2022
| Incoming Resources: Voluntary income: Tithes and offerings Other Income HMRC - Furlough scheme Building fund Gift aid Interest Total incoming resources RESOURCES EXPENDED: Cost of generating voluntary income Charitable activities: Salaries and wages Rent Manse expenses World evangelical ministry Conference expenses Advertisement and promotion Donations to night and welcome centres Honorarium Central office Subscriptions and contributions Musicians Expenses Training GOVERNANCE COST Acountancy and Examiners fee SUPPORT COSTS: MANAGEMENT Office expenses and telephone Repairs and cleaning Insurance General expenses Storage fees SUPPORT COSTS: FINANCE CHARGES Bank Charges Total resources expended Net expenditure |
2022 2021 £ £ 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 - - 313 49,666 74,748 £2,915 £2,869 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 £61 - £60,827 £92,923 £20,893 £25,713 |
2022 2021 £ £ 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 - - 313 49,666 74,748 £2,915 £2,869 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 £61 - £60,827 £92,923 £20,893 £25,713 |
2022 2021 £ £ 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 - - 313 49,666 74,748 £2,915 £2,869 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 £61 - £60,827 £92,923 £20,893 £25,713 |
2022 2021 £ £ 50,548 63,706 1,401 1,512 8,050 18,692 3,710 13,271 17,976 21,379 35 76 £81,720 £118,636 22,549 22,793 5,400 30,796 15,000 14,950 1,900 1,800 300 - 57 130 564 2,637 270 600 600 600 396 129 2,630 - - 313 49,666 74,748 £2,915 £2,869 679 312 587 2,084 174 7,005 - 6,745 5,905 £8,185 £15,306 £61 - £60,827 £92,923 £20,893 £25,713 |
|---|---|---|---|---|
| 22,793 30,796 14,950 1,800 - 130 2,637 600 600 129 - 313 74,748 £2,869 312 2,084 7,005 - 5,905 £15,306 |
22,793 30,796 14,950 1,800 - 130 2,637 600 600 129 - 313 74,748 |
|||
| £2,869 | ||||
| 312 2,084 7,005 - 5,905 |
||||
| - £92,923 |
||||
| £25,713 |