2023-03-31-accounts - The Redeemed Christian Church Of God Maranatha Assembly

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RCCG MARANATHA ASSEMBLY

MILTON KEYNES

THE REDEEMED CHRISTIAN CHURCH OF GOD MARANATHA ASSEMBLY

TRUSTEE’S REPORT AND ANNUAL ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2023

MILTON KEYNES

RCCG MARANATHA ASSEMBLY

	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	12

Corporate Information

Registered Charity Number: 1176702 Registered Company Number: 11079881 Registered Office: C/O 42 Buckingham Gate, Eaglestone Milton Keynes MK6 5AA Pastor in Charge: Olusina Moses Aruna Board of Trustees: Morenikeji Omotayo Aruna Omolara Eunice Abdul Bankers: Lloyds Bank

Board of Trustee’s Report

Introduction

The Trustees present their annual report and the financial statements of The Redeemed Christian Church of God (RCCG) Maranatha Assembly (the charity) for the period ended 31 March 2023. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity's governing document and the provisions 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".

Structure, Governance and Management

RCCG Maranatha Assembly 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 for Common Purposes'.

The charity was constituted under a trust deed dated 17th January 2018 and is registered in England and Wales with charity number 1176702

Appointment or Election of Trustees

Trustees are elected and or co-opted under the terms of the trust deed.

Policies Adopted for the Induction and Training of New Trustees

The induction process for a newly appointed trustee 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 manages the day to day administration of the church.

Objectives 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 objectives, the church adopted the following strategies:

Running seminars in the church with proven ministers of the faith to guide members in the various aspect of Christian faith,
Support for other charities and Christian events,
Providing overseas aid and famine relief, and
Involving in economic and community development

Board of Trustee’s Report

The activities for achieving its objectives include:

Community outreach events
Conferences and events
Welfare support to members and general public, and
Various missionary activities

Achievements and Performance

RCCG Maranatha Assembly opened its Sunday and mid-week services to the general public to build on their Christian faith. Apart from its Christian activities, the charity was involved in other community projects for public benefits. Some are as follows:

Contributed monthly in sponsoring a child through Compassion UK – a Christian charity that is committed to getting children out of poverty.
Organised a 3 day spiritual retreat for the community for spiritual growth and empowerment.
Provided an avenue for older children and teenagers to meet every Tuesday, where the Charity provides support and encourage them to develop their potentials.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance advancing religion and relieving poverty when reviewing the charity's aim and objectives and in planning future activities and grant making policy for the year.

Grant Making Policy

The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG Programmes. The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.

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.

Board of Trustee’s Report

Financial Review

The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust deed.

During the year to 31st March 2023, the church had a total income of £31,044. Total operating charitable expenditure was £22,279 giving a surplus fund of £8,764.

The Charity’s principal funding sources has been provided mainly through tithes and offerings by church members and through gift aid. Pledges are also taken for specific projects.

Investment Policy

The Trustees have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts.

Reserves Policy

The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended which equals to roughly £20,000 to £40,000 in general funds. They feel that this would enable the current activities to continue if there is a significant drop in funding. It would obviously be necessary to then consider how the funding would be replaced or activities changed. The trustees have set aside £30,000 as free reserve within its policy range but the trustees are continuing to seek additional unrestricted funds to build up its reserves.

Volunteers

The church is grateful to its volunteers who gave their services for free to the charity. It is estimated that over 3,000 hours were provided by volunteers during the year. If this is conservatively valued at £9.50 per hour, the volunteer's effort will amount to over £28,500.

Future Development

The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make lifechanging impact in society.

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.

This report was approved by the Board of Trustees on 11 December 2023 and signed on their behalf by:

Full Name: Omolara Abdul

Signature: Position: Chairperson

Date: 11 December 2023

Independent Examiner’s Report

Report to the trustees/members of: The Redeemed Christian Church of God Maranatha Assembly On accounts for the year ended: 31st December 2022, set out on pages 10 - 16 Charity No: 1176702

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:

(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: 11 December 2023

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

Statement of Financial Activities: Year Ended 31st March 2023

Notes Income: Donations and legacies 1 Other income 1 Total Income Total Income Expenditures on: Charitable Activities 2 Other Charitable Activities 2 Other Costs 2 Total Expenditures Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward at 1 April 2022 Total funds carried forward at 31 March 2023	2023 2023 2023 Unrestricted Funds Restricted Funds Total Funds £ £ £ 31,038 - 31,038 6 - 6 31,044 - 31,044 31,044 - 31,044 13,327 - 13,327 8,553 - 8,553 400 - 400 22,279 - 22,279 8,764 - 8,764 - - 8,764 - 8,764 18,798 - 18,798 27,562 - 27,562	2022 2022 2022
		Unrestricted Funds Restricted Funds Total Funds
		£ £ £
		22,945 - 22,945
		- - -
		22,945 - 22,945

		22,945 - 22,945


		6,153 - 6,153
		7,089 - 7,089
		400 - 400
		13,642 - 13,642

		9,303 - 9,303




		-
		-
		9,303 - 9,303

		9,495 - 9,495

		18,798 - 18,798

Statement of Financial Position: Year Ended 31st March 2023

Notes Fixed Asset Tangible assets 3 Total Fixed Asset Current Assets Loans & Advances Accrued Income Cash at bank and in hand Other Debtors Total Current Assets Creditors: amounts falling due within one year Other Creditors Other Current Liabilities Total Creditors: amounts falling due within one year Net current assets (liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year Other Non-Current Liabilities Total Creditors: amounts falling due after more than one year Total net assets (liabilities) The funds of the charity: Restricted Reserve General reserves Surplus/(Deficit) for the year Total charity funds	2023 £ 1,684 1,684 - 25,878 - 25,878 - - - 25,878 27,562 - - 27,562 18,798 8,764 27,562	2022
		£

		1,331
		1,331


		200

		17,267
		-
		17,467


		-
		-
		-

		17,467

		18,798


		-
		-

		18,798



		9,495
		9,303
		18,798

Accounting Policies

Scope and Basis of the Financial Statements

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities published in March 2005.

Income

Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.

Expenses

Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Fixed assets

Fixed assets with an individual purchase of £250 or more are capitalised and stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Fixtures and fittings	20%
Equipment	20%
Vehicles	20%
Building	2%

Notes

Notes
1. Income Income Donations and legacies Restricted Income Total donations & legacies Other income Gift Aid Receipts Other income Total other income Total Income 2. Expenditures Charitable Activities Premises Utilities Travel Motoring & Transportation Insurance Administration Advertising Operations Finance Charges Depreciation Honorarium Total Charitable Activities Other Charitable Activities Levies & dues Outreach Central Office Welfare & Benevolence Charitable Donations Total Other Charitable Activities Other Costs Other costs Legal fees Accountancy fees Total Other Costs	2023 £ 31,038 31,038 6 6
		2022
		£
		22,945

		22,945




		-
	31,044 2023 £ 2,973 23 880 789 204 1,729 440 3,062 418 2,810 13,327 - 180 5,961 - 2,412
		22,945

		2022
		£
		993
		90
		1,010
		187
		204
		1,392
		225
		1,631

		121
		300
		6,153


		225
		-
		5,378
		50
		1,436
	8,553 400 400	7,089




		400
		400

Notes

3. Related Party Transactions

During the year, the church made donations and contributions to other RCCG and charitable organisations as shown in note 3 under Central Office and Charitable Giving.

4. Trustee Remuneration & Expenses

During the year, there were not payments or reimbursement of expenses to trustee members.