THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
Charity registration number 1181007
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 DECEMBER 2024
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
| Contents | |
|---|---|
| Reference and administrative details of the charity | 3 |
| Report of the Trustees | 4 – 7 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes forming part of the financial statements | 12 - 16 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDING 31 DECEMBER 2024
| Trustees | Mr Vincent Balogun |
|---|---|
| Mr Oluwole Oyenekan | |
| Mrs Esther Olofinusi | |
| Mrs Agnes Biu | |
| Charity registration | |
| number | 1181007 |
| Principal Office |
C/O 17 Braybrook Crescent |
| West Bromwich | |
| West Midlands | |
| B70 7DZ | |
| Pastor in charge |
Pastor Lucky Aibangbee Albert |
| Independent Examiner | MacGlory Consult Ltd |
| 61 Fuller Way | |
| Andover | |
| Hampshire | |
| SP11 6UJ | |
| Bankers | HSBC PLC |
| PO BOX 28 | |
| West Bromwich | |
| B70 8DJ |
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
TRUSTEES’ REPORT FOR PERIOD ENDED 31 DECEMBER 2024
The Trustees submit their annual report and the financial statements of the Redeemed Christian Church of God Grace Assembly, Stourbridge (the charity) for the year ended 31[st] December 2024. 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.
Status
The charity was constituted under a Trust deed dated 28 November 2018 and is registered in England and Wales on the 5th of December 2018 with charity number 1181007
Appointment Or Election Of Trustees
Trustees are appointed 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 Pastor on the powers and responsibilities of the trustees, followed by short meetings with the Chair and other Trustees,
Organisational Structure And Decision Making
The charity is organised so that the Trustees meet as required to manage its affairs. The Pastor in Charge manages the day-to-day administration of the church.
Related Party Relationships
RCCG Grace Assembly is a parish of The Redeemed Christian Church
of God with a world-wide footprint of many parishes in many nations of the world. The parish’s relationship with other parishes is governed by an ‘Agreement for Common Purposes’ which is a binding document that all RCCG parishes subscribes to. The sets the frame work for cooperation and collaboration among parishes whilst maintaining its unique characteristics.
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.
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
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 objectives, the church has set out the following strategies:
Weekly Sunday School and Christian education Periodic seminars and training on Christian standards and soft skills Support for other charities and Christian events, Involving in economic and community development
The activities for achieving its objectives include:
Sunday worship service, Bible study House fellowship and Prayer meetings Community outreach, conferences, and events Welfare support to members and the public Various missionary activities – Like LGAF
Grant Making Policy
In line with the agreement for common purpose, the parish supports RCCG Central Office, World Evangelism Mission (WEM) Festival of
Life and other RCCG Programmes. The church also supports other charities and missions 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 in line with the core object of alleviation of poverty.
Volunteers
The church is blessed with amazing volunteers who serves in various capacities that sustains the activities of the charity. It is estimated that over 3000 hours were provided by volunteers during the year. If this is conservatively valued at £10.00 per hour, the volunteer’s effort will amount to over £30,000.
Review Of Activities
The church has been growing steadily in the last few years and this year was no exception. There is stability in its physical and spiritual activities during this year.
Meetings were held both physically and virtually. seminars were also held in the year. The year began with the Cross overnight into 2024 with a time of praise, prayers and uplifting fellowship that brought people together in celebration of the New year.
This was closely followed in Feb with a Praise Celebration night that aimed at bringing the community together.
We also had the Easter Variety Sunday with a presentation of music, drama, worship and teachings that was open to the community.
Friday 24[th] to Sunday 26[th] May was another “Praise Weekend” this presented an atmosphere of joy, laughter, music, worship and high praise that promoted physical, mental and spiritual wellbeing.
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
The Men’s `Conference was held in June to provide an atmosphere for men to bond and discover/enhance their purpose.
The Youth & Young Adults had their day on Sunday 28[th] July, where they honed their skills and show case their talents for further nurturing. August 24-25[th] was the turn of the women for an outstanding conference that provided teachings, guidance, songs bonding. Dec was another time to celebrate Christmas and share God’s love among the community with outreach program held in collaboration with other parishes.
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 £4,250 to £6,000 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 present free reserve is within the range, but the Trustees are continuing to seek additional unrestricted funds to build up its reserve.
Principal Funding
Funding has been provided mainly through tithes and offerings by church members Pledges are also taken for specific projects.
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 life-changing impact in society.
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TRUSTEES' REPORT (Continued) FOR PERIOD ENDED 31 DECEMBER 2024
Statement Of Trustees' Responsibilities
The charity trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the situation of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP;
-
Make judgement and estimates that are reasonable and prudent;
-
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. and signed on their behalf by:
Mr. Vincent Balogun Trustee
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiner’s report to the trustees of The Redeemed Christian Church of God Grace Assembly
I report on the accounts of the Trust for the year ended 31 December 2024, which are set out on pages 10 to 17.
Independent examiner’s report to the trustees of The Redeemed Christian Church Of God Grace Assembly Trust. I report to the trustees on my examination of the accounts for the year ended 31 December 2024, which are set out on pages 10 to 17.
Responsibilities and basis of report:
As the charity trustees of the trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
Oludayo Olayiwola,
61 Fuller Way, Andover, Hampshire SP11 6UJ
Date: 15 October 2025
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes 2024 Unrestricted Funds Incoming Resources £ Donation, legacies, Gift Aid & similar incoming resource 2 35,297 Donation in kind (Car) 3 4,000 Other income 4 3,050 Total incomimg resources 42,347 Resources expended Grant Payable- Individual 5 290 Grant Payable- Institutional 6 4,816 Costs of activities in furtherance of charities objects 7 26,501 Total resources expended 31,607 Net Incoming resources before other recognised gains 10,740 Net movement in funds 10,740 Reconciliation of funds Total funds brought forward 5,826 Total funds carried forward 16,566 |
Notes 2024 Unrestricted Funds Incoming Resources £ Donation, legacies, Gift Aid & similar incoming resource 2 35,297 Donation in kind (Car) 3 4,000 Other income 4 3,050 Total incomimg resources 42,347 Resources expended Grant Payable- Individual 5 290 Grant Payable- Institutional 6 4,816 Costs of activities in furtherance of charities objects 7 26,501 Total resources expended 31,607 Net Incoming resources before other recognised gains 10,740 Net movement in funds 10,740 Reconciliation of funds Total funds brought forward 5,826 Total funds carried forward 16,566 |
Restricted Funds £ - - - |
2024 Total Funds £ 35,297 4,000 3,050 42,347 290 4,816 26,501 |
2023 Total Funds £ - - - |
|---|---|---|---|---|
| 42,347 | - | - | ||
| - - - |
- - - |
|||
| 31,607 | - | 31,607 | - | |
| 10,740 | - | 10,740 | - | |
| 10,740 5,826 |
- - |
10,740 5,826 |
- - |
|
| 16,566 | - | 16,566 | - |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
BALANCE SHEET AS AT 31 DECEMBER 2024
The accounts have been prepared in accordance with the special provision of the Statement of Recommended Practice:
Accounting and Reporting by Charity (SORP) issued in October 2019 as modified for smaller charities.
Fixed Assets Tangible Assets Current Assets Cash at bank and in hand (Including loan refund) Debtors Creditors: Amount falling due within a year Net Current Assets Net Assets Unrestricted Funds Restricted Funds Total Funds
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Notes 2024 2023
£ £
8 4,927 -
9 10,539
10 2,300 -
-
12,839
11 1,200
-
11,639
16,566 -
1b 16,566
1b - -
16,566 -
----- End of picture text -----
Approved by the Trustee on 15 October 2025 and signed on their behalf by:
Mr. Vincent Balogun Trustee
The notes on pages 11 - 16 form part of these financial statements.
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of Accounting
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed assets investments at market value, and in accordance with the Companies Act 2006 and the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005.
(b) Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds may include a revaluation reserve representing the restatement of investment assets at market values where applicable. Designated funds are restricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Restricted funds are subject to restrictions on their expenditure imposed by their donors
(c ) Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Invested income is included when receivable.
Incoming resources from the charitable trading activity are accounted for when earned.
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
(d) Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred and reported as part of the expenditure to which it relates:
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
(e) Fixed Assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, over the expected useful lives on the following basis:
Furniture and Fittings: 25 reducing balance Computer Equipments: 25 reducing balance Motor Vehicle: 25 reducing balance
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2. Donations Unrestricted Restricted 2024 2023
Total Total
£ £ £ £
- -
Tithes collection (including collection via POS) 26,837 26,837
- -
Offerings collection (including collection via POS) 7,761 7,761
Thanks Giving 699 - 699 -
35,297 - 35,297 -
3. Donation in Kind Unrestricted Restricted 2024 2023
Total Total
£ £ £ £
Car donation 4,000 - 4,000 -
4,000 - 4,000 -
4. Other income Unrestricted Restricted 2024 2023
Total Total
£ £ £ £
Other donation 3,050 - 3,050 -
3,050 - 3,050 -
5. Grants payable- Individual Unrestricted Restricted 2024 2023
Total Total
£ £ £ £
Individual welfare 290 - 290 -
290 - 290 -
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 6. Grants payable- Institutional Charitable giving- UK List of institutional grants payable RCCG WEM- World Evangelism RCCG Central Office - Central Office Support Support- CRA Dudley Support- Other Charity Support- Other Charity-Missions Total grant payable- Institutional |
Unrestricted £ 4,816 |
Restricted £ - |
2024 Total £ 4,816 4,816 |
2023 Total £ - |
|---|---|---|---|---|
| 4,816 | - Restricted £ - - - - - |
- | ||
| Unrestricted £ 3215.86 600 400 300 300 |
2024 Total £ 3,216 600 400 300 300 |
2023 Total £ - - - - - |
||
| 4,816 | - | 4,816 | - |
6. Grants payable- Institutional
Charitable giving- UK
List of institutional grants payable
| 7. Costs of Generating Voluntary Income Seminar, conferences and subscriptions Travel and subsistence Hall hire, rent and rates Motor Expenses Welfare and hospitality Printing, postage, stationaries and IT consumables Music, liturgy and church group Insurance and licence Depreciation Bank charges Professional fees (Accountants) Repairs and maintenance Workers training |
Unrestricted £ 630 1,222 3,501 4,703 5,334 1,470 4,646 825 1,643 72 1,200 110 1,145 26,501 |
Restricted £ - - - - - - - - - - - - - |
2024 2023 Total Total £ £ 630 - 1,222 - 3,501 - 4,703 - 5,334 - 1,470 - 4,646 - 825 - 1,643 - 72 - 1,200 - 110 - 1,145 - |
|---|---|---|---|
| - | 26,501 - |
7. Costs of Generating Voluntary Income
++
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T THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| 8. Tangible Fixed Assets Furniture and Fittings Motor and Vehicle COST £ £ At 1 January 2024 - - Additions 1,171 4,000 At 31 December 2024 1,171 4,000 Depreciation At 1 January 2024 - - Depreciation charged for the year 293 1,000 At 31 December 2024 293 1,000 Net Book value At 31 December 2024 878 3,000 9. Cash Balance Cash and bank balance 10. Debtors Loan to church member 11. Creditors Accruals for professional fee 12. The average number of employee during the year: |
Furniture and Fittings Motor and Vehicle £ £ - - 1,171 4,000 |
Computers & Projectors £ - 1,399 1,399 - 350 |
Total 31- Dec 2024 £ - 6,570 |
Total 31- Dec 2023 £ - - |
|---|---|---|---|---|
| 1,171 4,000 - - 293 1,000 |
6,570 - 1,643 |
- |
||
| - - |
||||
| 293 1,000 |
350 | 1,643 | - | |
| 878 3,000 |
1,049 |
4,927 | - | |
| 2024 £ 10,539 |
2023 £ - |
|||
| 10,539 | - | |||
| 2024 £ 2,300 |
2023 £ - |
|||
| 2,300 | - | |||
| 2024 £ 1,200 |
2023 £ - |
|||
| 1,200 | - | |||
| 2024 No. - |
2023 No. - |
|||
| - | - |
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THE REDEEMED CHRISTIAN CHURCH OF GOD GRACE ASSEMBLY, STOURBRIDGE
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13. Trustee Remuneration & Related Pay Transactions
No member of the Board of trustees received remuneration during the year.
14. Taxation
As a charity, RCCG Grace Assembly is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.
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