THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SAINTS IN LIGHT ASSEMBLY SUNDERLAND
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REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 8TH OCTOBER 2023
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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG)
SAINTS IN LIGHT ASSEMBLY SUNDERLAND
| Page | |
|---|---|
| Corporate Information | 3 |
| Board of Trustee’s Report | 4 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Statement of Financial Position | 10 |
| Accounting Policies | 11 |
| Notes | 13 |
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Corporate Information
Registered Charity Number: 1174255 Principal Address: Emmanuel Church Hudson Road, Sunderland SR1 2LJ General Overseer: Pastor E. A. Adeboye Minister-in-Charge: Pastor Olalekan Aladesanmi Board of Trustees: Pastor Adetola David Odumade - Chairman Dr Abiodun Bamidele - Member Dr Annock Gabriel Chinowa - Member Mrs Oluwafunmilayo Odumade - Member Mrs Ayomide Aladesanmi - Member Bankers: HSBC
Unit 49-51, The Bridges Shopping Centre Market Square, Sunderland SR1 3LE
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Board of Trustee’s Report
The trustees present their report with the financial statements of the charity for the year ended 8th October 2023. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
Public Benefit Statement
The Trustees confirm that they have complied with the duty in section 4 of the Charites Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charites and Public Benefit".
Governing Document
The charity is an unincorporated association governed by a trust deed. Eligibility for members of charity and members of board of trustees is governed by the trust deed.
There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.
Organisation Structure
The church is organised such that the trustees meet at regular intervals to manage its affairs. The day to day activities of the church is administered by the Pastor-in-charge:-
Pastor Olalekan Aladesanmi
Volunteers
Many volunteers sacrifice their time to help with the routine activities of the church. We are greatly indebted to these volunteers for their unwavering commitment and support.
Appointment of New Trustees
Trustees are appointed by strict spiritual guidelines and biblical qualities that mirror Christ-like attributes. There was no trustees’ remuneration or other benefits.
The trustees who served during the period were as follows:
| Pastor Adetola David Odumade | - | Chairman |
|---|---|---|
| Dr Abiodun Bamidele | - | Member |
| Dr Annock Gabriel Chinowa | - | Member |
| Mrs Oluwafunmilayo Odumade | - | Member |
| Mrs Ayomide Aladesanmi | - | Member |
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Board of Trustee’s Report
Risk Management
The trustees actively review the major risks which the charity faces on a regular basis. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks.
Related Parties and Objective
RCCG Saints in Light Assembly is a member of Redeemed Christian Church of God (RCCG) which has parishes in many countries of the world. The relationship between the parishes and RCCG is governed by an agreement for common purposes.
Our objective is to raise men and women who have been transformed by the power of God’s word to shine brightly the light of Jesus Christ.
Principal Funding Sources
The sources of fund are provided mainly through tithes and offerings by church members as well as gift aid.
Objects and Activities
The principal object is the advancement of Christian Faith worldwide and the relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve its objective, the charity adopted the following strategies:
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Conducting Sunday worship services, midweek Bible study and prayer meetings;
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Running seminars in the church with proven ministers of faith to guide members in the various aspects of Christian faith;
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Support for other charities and Christian events; and
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Regular visitation within the local community to provide required support.
The activities for achieving its objectives include:
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Community outreach events
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Conference and events
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Welfare support to members and general public; and
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Various missionary activities
Achievements and Future Developments
This year we have successfully share our Christian faith by promoting positive values to reduce social vices among the youths in our communities, delivering comprehensive career development path for students and many more community-oriented events.
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Board of Trustee’s Report
As we pursue life transforming programmes and embark on spreading the gospel of Christ, we anticipate transformation in peoples’ life and growth in membership that will lead to planting of more parishes.
Indeed, the present level of funding is sufficient to support the continuation of the church objectives.
Financial Reviews
During the period, the total of sum £68,368 was received in voluntary income. Total resources expended was £37,275 thus resulting in operating surplus of £31,092. Cash at the end of the period was £50,637.
Future Development
The Charity plans to continue with its various activities relevant to its local community. In the coming year, the Charity plans to organise more developmental seminar/conference and workshops for its members and local community,
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Board of Trustee’s Report
Trustees’ Responsibilities
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law 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 net income or expenditure of the charity for the year. In preparing these financial statements the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
The appended financial statements have been prepared on the accrual’s basis and have been examined by an independent examiner, whose report is also appended.
This report was approved by the Board of Trustees and signed on their behalf by:
On behalf of the charity:
Pastor Adetola David Odumade Chairman, Board of Trustees
04/07/2024 ___ Date
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Independent Examiner’s Report
Report to the trustees/members of: The Redeemed Christian Church of God (RCCG) Saints in Light
Assembly Sunderland On accounts for the year ended: 8th October 2023, set out on pages 9 - 13 Charity No: 1174255
Respective responsibilities of trustees and examiner
The charity’s trustees 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities 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 Charities Act), and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention low:
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(1) which give me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act;
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Date: 02 July 2024
Name: Tobi Labeodan FCCA, for and on behalf of Chedders Ltd
Relevant professional qualification(s) or body (if any): ACCA
Address: Ground Floor, Synium House, r/o 94-96 High Street, Henley in Arden, B95 5FY
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Statement of Financial Activities: Year Ending 8th October 2023
| Notes INCOMING RESOURCES Donations, Legacies and similar incoming resources 3 Activities in furtherance of charity's object 4 Total Incoming Resources RESOURCES EXPENDED Grants and Donations 5 Costs of activities for Charitable objectives 6 Support costs 7 Management and Governance Cost 8 Total Resources Expended Net (Resources expended/Incoming Resources) Total Funds brought forward Total Funds carried forward |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 61,171 - 61,171 28,870 7,197 - 7,197 2,334 |
|---|---|
| 68,368 - 68,368 31,204 |
|
| 8,090 - 8,090 7,061 8,173 - 8,173 3,000 18,912 - 18,912 10,113 2,100 - 2,100 450 |
|
| 37,275 - 37,275 20,624 |
|
| 31,092 - 31,092 10,582 24,894 - 24,894 14,312 |
|
| 55,986 - 55,986 24,894 |
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Statement of Financial Position: Year Ending 8th October 2023
| Notes Non-current Assets Tangible Assets 9 Current Assets Cash in Bank Short Term Liabilities Creditors (amount falling due in one year) 10 Net Current Assets Net Assets Charity Funds Unrestricted Restricted Total Charity Funds 11 |
2023 2022 Total Funds Total Funds £ £ 10,682 6,387 |
|---|---|
| 50,637 24,488 |
|
| 50,637 24,488 |
|
| 5,333 5,981 |
|
| 45,304 18,507 |
|
| 55,986 24,894 |
|
| 55,986 24,894 - - |
|
| 55,986 24,894 |
19/05/2024 The financial statements were approved by the Board of Trustees on _____ and were signed
on its behalf by:
Pastor Adetola David Odumade - Chairperson
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Accounting Policies
1. Accounting Policy
The fundamental accounting policies, all of which have been consistently applied throughout the year, are set out below:
(a) Scope and Basis of Preparation
The financial statements of Solution Assembly have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
(b) 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 purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
(c) Incoming Resources
All incoming resources are accounted for when the Charity is legally entitled to the funds and the amount can be quantified with reasonable accuracy.
(d) Resources Expended
All expenditure is accrued for on accruals 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 been allocated on a basis consistent with the use of the resources.
(e) 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).
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Accounting Policies
(f) Tangible Fixed Assets and Depreciation
Depreciation is charged on an annual rate on a reducing balance basis in order to write off each asset over its estimated useful life.
Asset Category
Annual Rate
Motor Vehicle 10% on cost Fixtures and Fittings 20% on cost Equipment 20% on cost
(g) Taxation
The charity is exempt from corporation tax on its charitable activities.
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Notes
3. Donation, Legacies and Similar Incoming Resources
| Tithes Offering Thanksgiving Seed of Faith First Fruits Projects (e.g. Building funds) Mission Welfare Campground Men’s dues Others (e.g., Sunday school manuals) |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 34,110 - 34,110 15,901 14,262 - 14,262 8,936 700 - 700 654 360 - 360 322 1,239 - 1,239 1,645 9,553 - 9,553 288 105 - 105 50 101 - 101 390 217 - 217 - 388 - 388 - 137 - 137 685 |
|---|---|
| 61,171 - 61,171 28,870 |
| 4. Activities in Furtherance of Charity Objects Grant received – Gift aid receipts |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 7,197 - 7,197 2,334 |
|---|---|
| 7,197 - 7,197 2,334 |
5. Grants Paid (Institutional and Non-institutional)
| RCCG - World Evangelical Mission RCCG - Central Office Fund RCCG Area fund RCCG Good Women Fellowship RCCG Open Heaven Christian Centre Evangelical Support African Mission Love Christmas expenses Financial Assistance/Relief fund |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 4,275 - 4,275 4,263 600 - 600 650 1,013 - 1,013 526 100 - 100 100 200 - 200 - 380 - 380 200 120 - 120 100 853 - 853 1,022 550 - 550 200 |
|---|---|
| 8,090 - 8,090 7,061 |
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Notes
6. Cost of Activities for Charitable Objectives
Rent Building repairs Alarm/CCTV |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ - - - 3,000 5,555 - 5,555 - 2,618 - 2,618 - |
|---|---|
| 8,173 - 8,173 3,000 |
7. Support Costs
| Books/Postage/Stationeries Travel /Transport Accommodation Hospitality/Welfare Printing IT expenses Electricity, heating &water Road tax Fuel Vehicle repairs Vehicle insurance Sundry expenses Bank charges Depreciation |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 1,589 - 1,589 647 363 - 363 104 298 - 298 - 3,989 - 3,989 1,958 657 - 657 1,395 599 - 599 294 7,826 - 7,826 940 173 - 173 173 1,401 - 1,401 1,005 733 - 733 1,246 750 - 750 634 420 - 420 246 115 - 115 114 2,455 - 2,455 1,357 |
|---|---|
| 18,912 - 18,912 10,113 |
| 8. Management and Governance Cost Retreat/Training Honorarium Local Council fee Professional services Accounting fees Solicitor fees |
2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds £ £ £ £ 100 - 100 100 700 - 700 150 - - - - 300 - 300 200 500 - 500 - 500 - 500 - |
|---|---|
| 2,100 - 2,100 450 |
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Notes
9. Non-current Assets: Tangible Assets
| Cost As at 9 October 2022 Additions At 8 October 2023 Depreciation As at 9 October 2022 Charge for the year At 8 October 2023 Net Book Value At 8 October 2023 |
Motor Vehicle Fixtures & Fittings Equipment Total £ £ £ £ 3,000 1,201 6,115 10,316 - 1,032 5,891 6,922 |
|---|---|
| 3,000 2,233 12,006 17,238 |
|
| 1,275 686 2,140 4,101 173 309 1,973 2,455 |
|
| 1,448 995 4,113 6,556 |
|
| 1,553 1,237 7,893 10,682 |
10. Creditors: Amount Falling Due Within One Year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Creditors | 5,333 | 5,981 |
11. Movements in Funds
| Unrestricted Funds General Funds Restricted Funds Restricted Total Funds |
At 09/10/2022 Net movement in funds At 08/10/2023 £ £ £ 24,894 31,092 55,986 - - - |
|---|---|
| 24,894 31,092 55,986 |
12. Trustees’ Remuneration and Benefits
There were no trustees’ remuneration or other benefits for the year ended 8th October 2023.
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