2021-12-31-accounts - The Redeemed Christian Church Of God The King's Glory Church

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RCCG THE KING’S GLORY CHURCH King’s Lynn

Minutes of The Kings Glory Church (TKG)Trustee Board meeting held 05/12/2021.

Time: 19.00 hours

Venue: conference call via Zoom

Attendance: Grace Akinlade Pastor Ade Ajayi Pastor Dapo Adegoke Pastor Toyin Adegoke Bro Kanayo

Opening Prayer was said by Grace Akinlade as mandated by Pastor Dapo Adegoke.

Minutes of the last meeting: Pastor Dapo went through the minutes of the last meeting done on 10/04/2021. This captured the income and expenditures of the years 2019 and 2020.

He discussed the challenges experienced by the team (Pastor Dapo and the building committee). He gave the reasons why the initial builder was fired, and why he needed to take on the role of the Project Manager. This has actually saved the house a huge sum of cash.

Year 2020 Financial report: By Pastor Dapo Adegoke.

Review of income and expenditures for years 2019 & 2020 done with financial details already circulated.

Pastor Ade made some recommendations at the account presentation. This was well taken in by Pastor Dapo and Pastor Toyin.

He explained the reasons we had a huge outgoings in 2020, which of course is due to the Building Projects and Mortgage loan repayment.

Revaluation of building suggested, said to be done.

Worship Centre: 27 Bryggen Road, PE30 2HZ. King’s Lynn Tel: 01553 600 036 Email: info@thekingsglory.org.uk

RCCG is a worldwide church organisation established since 1952. Registered in the United Kingdom. TKG charity number 1182416 General Overseer: Pastor E. A. Adeboye

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RCCG THE KING’S GLORY CHURCH King’s Lynn

Pastor Dapo and Pastor Toyin both took us through the financial report which is already displayed by the external church accountant on our Charity commission Page.

A review of 2021 Targets:

Targets completed on Building projects Phases 1,2 & 3. Financial income mainly by church members’ contributions. Also from gifts aids. Bank Loans - Covid support, Donations.

Outstanding loans- there are plans in place to sort them out as soon as we can do so.

2022 Plan:

The Pastors discussed the church’s strategy on evangelism and outreach. Building the people we have.

To win souls for Christ. One of the steps is having a Christmas Carol and inviting the members of the community and our friends.
They discussed the need for a community liason officer
Also we need to hire a Church Administrator for this immense role.
Church anniversary- Proposed 2 day celebration for 2022.
Purchase of Church Bus
We have not set any date for the next meeting, but it is going to be twice in a year. Possibly next April 2022.

The meeting closed at 20.14 hours with the prayer said by Pastor Ade Ajayi.

Worship Centre: 27 Bryggen Road, PE30 2HZ. King’s Lynn Tel: 01553 600 036 Email: info@thekingsglory.org.uk

RCCG is a worldwide church organisation established since 1952. Registered in the United Kingdom. TKG charity number 1182416 General Overseer: Pastor E. A. Adeboye

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RCCG THE KING’S GLORY CHURCH King’s Lynn

Worship Centre: 27 Bryggen Road, PE30 2HZ. King’s Lynn

Tel: 01553 600 036 Email: info@thekingsglory.org.uk

RCCG is a worldwide church organisation established since 1952. Registered in the United Kingdom. TKG charity number 1182416 General Overseer: Pastor E. A. Adeboye

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Registered Charity Number

1182416

RCCG The Kings Glory Church

Financial Statement For The Year Ended

30th December 2021

Prepared by DTT Consultancy Ltd

RCCG The Kings Glory Church	RCCG The Kings Glory Church	RCCG The Kings Glory Church	RCCG The Kings Glory Church	1182416	1182416
	Annual accounts for theperiod
	Period start date	1st Jan 21	To	Period end date	31st Dec 21

Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Gift Aid S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 Prior Year Adjustment S21 *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before* *transfers* Gains and losses on investment assets Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) *Net incoming/(outgoing) resources before other* *recognised gains/(losses)* Gross transfers between funds *Total resources expended* *Total incoming resources*		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
		-	-	-	-	-
		142,893	-	-	142,893	108,323
			-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		142,893	-	-	142,893	108,323

		-	-	-	-	-
		45,792	-	-	45,792	19,683
		-	-	-	-	-
			-	-	-	-
		12,632	-	-	12,632	10,812
		-	-	-	-	-
		-	-	-	-	-
		58,424	-	-	58,424	30,495
		84,469	-	-	84,469	77,828
		-	-	-	-	-
		84,469	-	-	84,469	77,828

		55,000	-	-	55,000	-
			-	-	-	-
		139,469	-	-	139,469	77,828
		159,445	-	-	159,445	81,617
					-	-
		298,914	-	-	298,914	159,445

Page 6

RCCG - Jan - Dec 2021

Section B Balance sheet

Unrestricted funds Restricted income funds Endowment funds £ £ £ F01 F02 F03	Unrestricted funds Restricted income funds Endowment funds £ £ £ F01 F02 F03	Unrestricted funds Restricted income funds Endowment funds £ £ £ F01 F02 F03	Total this year Total last year £ £ F04 F05	Total this year Total last year £ £ F04 F05
500,409			500,409	324,662


500,409			500,409	324,662


300			300	300

10,008			10,008	2,509
10,308			10,308	2,809

250			250	250

10,058	-	-	10,058	2,559

510,467	-	-	510,467	327,221

211,553	-	-	211,553	167,776
-	-	-	-	-

298,914	-	-	298,914	159,445

298,914			298,914	237,273




298,914	-		298,914	237,273
			0
Print Signature			Date of approval Name
				12-Nov-19

Page 7

RCCG - Jan - Dec 2021

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with* Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act 1993.

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial
Reporting Standards for Smaller Enterprises (FRSSE)”.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

§ if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years

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RCCG - Jan - Dec 2021

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

INCOMING RESOURCES
Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	· the charity becomes entitled to the resources;
	· the trustees are virtually certain they will receive the resources; and
	· the monetary value can be measured with sufficient reliability.
Incoming resources with related	Where incoming resources have related expenditure (as with fundraising or contract income) the
expenditure	incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional entitlement to
	the resources.
Tax reclaims on donations and	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which
gifts	they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed
	by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
Donated services and facilities	These are only included in incoming resources (with an equivalent amount in resources expended)
	where the benefit to the charity is reasonably quantifiable, measurable and material_._The value
	placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing
	investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to
	pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings
	and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service or
conditions	output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has
	provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are no
performance conditions	conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a basis
	consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff
	costs by the time spent and other costs by their usage.

ASSETS
Tangible fixed assets for use by	These are capitalised if they can be used for more than one year, and cost at least £500. They are
charity	valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year end.
	Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

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RCCG - Jan - Dec 2021

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Analysis	This year £	Last year £
Tithes,offeringand thanksgiving	142,893	108,323
Building	-	-
Other
Interest earned
Total	142,893	108,323

Gift aid	11,616	33,164
	-	-
	-	-
	-	-
	-	-
Total	11,616	33,164

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-







Total	-	-

Page 10

RCCG - Jan - Dec 2021

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
Hospitality	1,299	251
Multimedia	9,714	1,065
Transport	-
Children	626
Admin	1,251	3,963
Choir	-	-
Utility	2,927
Honourarium	2,250
Sanctuary	2,583	3,331
TrainingEvents	2,200
Rent	1,083	10,380
Telephone	395
Charges	68	-
Depreciation	18,480
Professional Fees	2,450
Cleaning	465
SundryExpense		693
Total	45,792	19,683

RCCG WEM	11,205	8,006
RCCG COF	300	300
Outreach Events	357	276
Welfare	300
Donation	240
CharitySupport	230	2,230
Total	12,632	10,812

	-	-
	-	-
	-	-
Total	-	-

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RCCG - Jan - Dec 2021

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses Total amount paid

This year	Last year


£	£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £
	250	250

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RCCG - Jan - Dec 2021

Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Church Building £	Building work £	Furniture £	Motor van	Total

220,000	104,662			324,662
	130,610	8,617		139,227
55,000				55,000
				-
				-
275,000	235,272	8,617	-	518,889
SL or RB	SL or RB	SL or RB



	16,326	2,154		18,480
-	-	-		-
-	-	-		-
-	-	-		-
-	-	-		-
-	16,326	2,154	-	18,480


275,000	218,946	6,463	-	500,409

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RCCG - Jan - Dec 2021

Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
		-	-
	-	-	-
300	300	-
		-	-
300	300	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

12.1 Analysis of creditors

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
-	-		-
250	250		-
			-
-		196,763	151,153
-		14,790	16,623
250	250	211,553	167,776

Page 14

RCCG The Kings Glory Church

INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 DECEMBER 2021

TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD - The Kings Glory Church

I report on the accounts for the year ended 31 December 2021 set out on pages 5 to 9.

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 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

(i) examine the accounts under section 145 of the 2011 Act;

(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

(iii) to state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the 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 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 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 statements below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

(a) which gives me reasonable cause to believe that in any material respect the requirements:

(i) to keep accounting records in accordance with section 130 of the 2011 Act; and

(ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;

have not been met.

(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire AL10 9FF

Date: 20th Oct 2022