## **THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SAINTS IN LIGHT ASSEMBLY SUNDERLAND**
**==> picture [156 x 156] intentionally omitted <==**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 8TH OCTOBER 2023**
1
## **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|
2
## **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
3
## **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|
4
**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:
- Conducting Sunday worship services, midweek Bible study and prayer meetings;
- Running seminars in the church with proven ministers of faith to guide members in the various aspects of Christian faith;
- Support for other charities and Christian events; and
- Regular visitation within the local community to provide required support.
The activities for achieving its objectives include:
- Community outreach events
- Conference and events
- Welfare support to members and general public; and
- 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.
5
## **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,
6
**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:
- Select suitable accounting policies and then apply them consistently;
- Make judgments and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
- examine the accounts under section 145 of the Charities Act,
- 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
- 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:
- (1) which give me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 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.
## **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**|
9
## **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
10
## **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**|
13
## **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**|
14
## **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.
15