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THE REDEEMED CHRISTIAN CHURCH OF GOD Jesus Love fellowship Centre Charity Registration No 1174904
the year ended 31st January, 2024
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Contents
Reference and administrative details for the year ended 31 January 2024 ....................................... 2 Trustees’ Report for The Year Ended 31 January 2024 ....................................................................... 3 Trustees’ Report Cont’d. ..................................................................................................................... 4 Independent Examiner’s Report for Year Ended 31 January 2024 ..................................................... 5 Statement of Financial Activities ........................................................................................................ 6 Balance Sheet as at 31 January 2024 .................................................................................................. 7 Notes to the Accounts ........................................................................................................................ 8 Notes to the accounts ......................................................................................................................... 9 Notes to the accounts cont’d ............................................................................................................ 10 Notes to the Accounts Cont’d ........................................................................................................... 11
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Reference and administrative details for the year ended 31 January 2024
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES
AND ADVISERS FOR THE YEAR ENDING 31st JANUARY, 2024
GENERAL OVERSEER
Pastor E.A Adeboye
Trustees Pastor Chukwuma ONYEOJI Pastor (Mrs) Esther ITEMAN Pastor Taiwo ADEGBOLA
Charity Registration Number 1174904 Principal Office 70, Crompton Way, Lowton Warrington WA3 1FS.
Pastor In Charge Pastor Benjamin Fakoya
Independent Examiner Adebayo OLABISI, FCA, FFA, FIPA 7, Mossbrook Drive, Manchester. M38 9TJ Bankers Barclays Bank
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Trustees’ Report for The Year Ended 31 January 2024
The Trustees submit their annual report and the Financial Statements of The Redeemed Christian Church of God (RCCG) JESUS LOVE FELLOWSHIP CENTRE PARISH (The Charity) for the Year ended 31st January, 2024. The Trustees confirm that the Annual Report and the Financial Statements of the Charity comply with the current statutory requirements of the Charity’s governing documents and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005
STATUS: The Charity was constituted under a Trust Deed dated 2[nd] January, 2014 as amended by resolution dated 25th March, 2017. It was registered in England and Wales with Charity number 1174904 on 29th September. 2017.
APPOINTMENT OR ELECTION OF TRUSTEES : Trustees are elected and or appointed under the terms of the Trust Deed. Pastor Josiah Taiwo Adegbola was appointed as trustee to replace Mr Solomon Ogungbesan on 14[th] September, 2023.
,
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES: The induction process for a newly appointed member of the Board of Trustees comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Pastor in charge on the powers and responsibilities of the Trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING: The Charity is organised so that the Trustees meet regularly to manage its affairs. The Pastor In Charge- Pastor Benjamin Fakoya manages the day to day administration of the Charity on a voluntary basis.
RELATED PARTY RELATIONSHIPS: RCCG (JESUS LOVE FELLOWSHIP CENTRE PARISH) is a Parish of the Redeemed Christian Church of God which has parishes all over the world. The Parish’s relationship with other Parishes is governed by an “Agreement of Common Purpose”.
RISK MANAGEMENT: The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to operations and finances of the Charity, and are satisfied the systems are in place to mitigate our exposures to the major risks
OBJECTS AND ACTIVITIES: The principal object is the advancement of the Christian faith worldwide, and to promote any charitable activity for the benefit of the local people through:
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Running seminars in the Church with proven ministers of the faith to guide members in the various aspects of Christian faith;
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Support for other Charities and Christian events.
The activities for achieving its objectives include:
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Community outreach events
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Conferences and events
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Welfare support to members and general public, and
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Various missionary activities
FUNDING AND GRANT MAKING POLICY: The principal source of funding to the Charity is Donations complimented by Gift Aids. The Charity also give out grants and support in line with its objectives.
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Trustees’ Report Cont’d.
VOLUNTEERS: The Charity’s activities are carried out by volunteers who provided services in different capacities.
REVIEW OF ACTIVITIES: Trustees record their appreciation to all Donors who supported the Charity to the tune of £97,674 (£62,157) in the previous year) during the period under review. The Charity also gave out £3,960 in Donation and Grants. The Trustees are satisfied with the success of the Charity in meeting its objectives and are optimistic that it will continue to do so.
INVESTMENTS: There were no investments during the period.
STATEMENTS OF TRUSTEES’ RESPONSIBILITIES
The Trustees are responsible for preparing the Annual Report and Financial Statements in accordance with applicable laws and regulations.
Charity law requires the Trustees to prepare Financial Statements for each Financial Year. Under that law the Trustees have elected to prepare the Financial Statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Financial Statements are required to give a true and fair view of the state of affairs of the charity for that period. 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 judgement 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 company will continue in operation.
The Trustees recognise their responsibilities to keep 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 company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by the Trustees on …………/…………………/ 2024 and signed on their behalf by:
Mrs Esther ITEMAN (Trustee). 10/4/2024
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Independent Examiner’s Report for Year Ended 31 January 2024
TO: THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) JESUS LOVE FELLOWSHIP CENTRE
I report on the accounts of the Charity for the Year ended 31[ST] January, 2024 which is set out on pages 6-11
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE 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 145(1) of the Charities Act 2011 and that an Independent Examination is needed.
It is my responsibility to:
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Examine the Accounts (under Section 145(1) (a) of the 2011 Act;
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Follow the procedures laid down in the general directions given by the Charity Commissioners and
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State whether particular matters have come to my attention.
BASIS OF EXAMINER’S STATEMENT
My examination was carried out in accordance with the general directions given by the Charity Commissioners. 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 I do not express an audit opinion on the view given by the accounts.
EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention to give me reasonable cause to believe that in any material respect the requirements:
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To keep accounting records in accordance with the requirement of Section 130 of the Charities Act 2011; and
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To prepare Accounts which accord with the accounting records and to comply with the accounting requirements of the Charities act 2011 have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SIGNED
Adebayo OLABISI FCA, FFA, FIPA. 7, Mossbrook Drive, Manchester
M38 9TJ. DATE: 10/4/2024
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Statement of Financial Activities
| Notes Incoming Resources: Voluntary Donations 2 Gift Aid Received 3 Total Resources Expended Charitable Expenditure Grants Payable-Institutional 4 Cost of Activities in furtherance of Charity's Objects 5 Management and Governance Costs 6 Total Resources Expended Net Incoming/(Outgoing) Resources Total Funds at the Beginning of the Year Balance at the end of the Year |
2024 £ 97,674 22,494 120,168 3,960 59,624 1,783 65,367 54,801 32,985 87,786 |
2023 £ 62,157 7,237 |
|---|---|---|
| 69,394 | ||
| 3,960 47,916 3,642 |
||
| 55,518 | ||
| 13,876 19,109 |
||
| 32,985 |
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Balance Sheet as at 31 January 2024
| Notes Fixed Assets: Tangible Assets 7 Current Assets: Bank and Cash Balances 8 Total Assets Liabilities: Amont Due within 1 Year 9 Net Assets Charity Funds: General Unrestricted Total Funds |
2024 £ 16,163 72,103 88,266 480 |
2023 £ 4,920 28,465 |
|---|---|---|
| 33,385 400 |
||
| 87,786 | 32,985 | |
| 87,786 87,786 |
32,985 | |
| 32,985 |
The Accounts have been prepared in accordance with special provisions of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued in March 2007 as modified for smaller Charities.
Approved by the Trustees on: …………/………………/2024.
and Signed on their behalf by:
10/4/2024 Mrs Esther ITEMAN
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Notes to the Accounts
| Notes to the Accounts | ||
|---|---|---|
| Note 4 Grants Payable-Institutional World Evangelical Mission (WEM) & FOL Central Office Funding Note 5 Cost of Activities in Furtherance of Charity Objects Visiting Speakers Expenses & Honorarium Training and Seminars Rent, rates and Licences Utilities Welfare Expenses Hospitality Motor Vehicle Expenses Insurance Depreciation Repairs and Maintenance Note 6 Management and Governance Costs Administrative, Legal and Professional expenses Independent Examiner's fee |
2024 £ 3,360 600 3,960 9,890 7,150 7,050 2,968 19,410 6,490 1,577 1,413 2,700 976 59,624 1,303 480 1,783 |
2023 £ 3,360 600 |
| 3,960 | ||
| 6,470 2,414 6,000 6,684 7,973 7,080 3,982 894 3,650 2,769 |
||
| 47,916 | ||
| 3,242 400 |
||
| 3,642 |
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
Notes to the accounts cont’d.
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Note 1 Accounting Policies
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a The Accounts have been prepared under the Historical Cost Convention in accordance with applicable Accounting Standards. They follow Best Practices as stated out in the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued in March, 2007 as modified for small Charities.
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b) Income is accounted for on Actual Receipt Basis while Expenditures are recorded on Accrual Basis
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c) Fixed Assets: Comprise of Motor Vehicles, Musical Equipment, Office Equipment and Furniture items, and are stated at Cost Less Depreciation
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d) Depreciation is provided at rates calculated to write off the cost of the assets (less expected disposal value) over expected useful lives. The following rates
| lives. The following rates | |
|---|---|
| apply: | |
| Motor Vehicles: | -20% |
| Computer and Other Equipment: | -20% |
| Furniture & Fittings | -20% |
Note 2 Donations, Legacies and Similar Incoming Resources
| Tithes Offering Thanksgiving First Fruit & Others Note 3 Gift Aid Received: |
2024 £ 78,998 11,770 6,906 97,674 22,494 |
2023 £ 41,871 16,645 3,141 500 |
|---|---|---|
| 62,157 | ||
| 7,237 |
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
| Notes to the accounts cont’d Note 4 Grants Payable-Institutional World Evangelical Mission (WEM) & FOL Central Office Funding Note 5 Cost of Activities in Furtherance of Charity Objects Visiting Speakers Expenses & Honorarium Training and Seminars Rent, rates and Licences Utilities Welfare Expenses Hospitality Motor Vehicle Expenses Insurance Depreciation Repairs and Maintenance Note 6 Management and Governance Costs Administrative, Legal and Professional expenses Independent Examiner's fee |
2024 £ 3,360 600 3,960 9,890 7,150 7,050 2,968 19,410 6,490 1,577 1,413 2,700 976 59,624 1,303 480 1,783 |
2023 £ 3,360 600 |
|---|---|---|
| 3,960 | ||
| 6,470 2,414 6,000 6,684 7,973 7,080 3,982 894 3,650 2,769 |
||
| 47,916 | ||
| 3,242 400 |
||
| 3,642 |
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The Redeemed Christian Church of God-Jesus Love Fellowship Centre
| Notes to the Accounts Cont’d Note 7 Fixed Assets Cost At 1st February, 2023 Additions during the Year Disposals At 31st January, 2024 Depreciation At 1st February, 2023 Charge for the Year Disposals At 31st January, 2024 Net Book Value At 1st February, 2023 At 31st January, 2024 £12,343 property related expenses* Note 8 Bank Balances Bank Note 9 Creditors & Accruals** Independent Examiner's fee |
Building £ 12,343 12,343 - - 12,343 capitalised* |
Motor Vehicles £ 2,700 2,700 2,690 2,690 10 10 31 Jan 2024 72,103 72,103 480 480 |
Equipment £ 11,600 800 12,400 6,990 2,480 9,470 4,610 2,930 31 Jan 2023 £ 28,465 28,465 400 400 |
Furniture & Fittings £ 4,000 800 4,800 3,700 220 3,920 300 880 |
Total £ 18,300 13,943 - |
|---|---|---|---|---|---|
| 32,243 | |||||
| - - 13,380 2,700 - |
|||||
| 16,080 | |||||
| - - 4,920 |
|||||
| 16,163 | |||||
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