## RCCG The Kings Glory Church ## Minutes of the Trustee meetings held on the 22[nd] December 2022 ## In attendance - Deaconess Grace Akinlade chaired the meeting - Pastor Ade Ajayi - Bro Kanayo Ndibe - Minutes secretary - Pastor Oladapo Adegoke The meeting started at 5.06 pm with a prayer by Bro Kanayo. ## **Deaconess Grace** Chaired the meeting. Read the minutes of the last Trustee’s meeting ## **Pastor Dapo** The church met the building target. Funding for the project came from contributions from members, friends, and support from other sister parishes. Ask for agreement, and there were no objections. I have added a few extensions/additions, for example, the new space divider on the entrance meeting space, which was done at the cost of £7,000. We will also need a portable cabin for the teenagers, to accommodate the growing number of children in the children’s department above. We have renewed the Church building insurance. **Action:** confirm whether the insurance covers the church members during outreach activities. An internal person needs to check/audit the accountant’s account before making it public. ## **Pastor Ade** We need to review the legal structure to see if it is still suitable for the operations. ## **Pastor Dapo** Summary of the year of maturity Introduction of natural groups initiatives implemented – women and single’s groups are active, and we hope to start men’s groups in 2023. Started the Fairstead Home groups, and because of the success recorded, it will be extended across the whole church. Induction course for new entrants in Kings Lynn (Navigate Kings Lynn) Procured the planned church transport for £7,500 against the £10,000 budget. It is a used vehicle that is still in good condition. The benefits include improvement in the attendance level of some of our programs. ## **Finance** ## **Pastor Dapo** Bounce back loan £11,583.00; it has a low interest which we are servicing accordingly. The outstanding mortgage is £190,415.00. Spent more on multimedia, £10,000, to improve the audio-visual strategy of the church, especially during the outreach programs for an improved experience. The increased energy bills recorded in May/June entries are because of some building project costs executed during that period. We are reiterating the need for an internal auditor for the accounts. As advised during the last meeting, we have achieved the planned reserve target of 4 months (£20,000). We are yet to claim the gift aid for this year of approximately (£30,000). The current balance is £40,000, and there is an outstanding payment to be made of £10,000 meant for the equipment purchased. The mortgage fixed rate will end in 3-year time. ## **Pastor Ade** There is a need to make some lump payments before the end of the three years. Deaconess Grace seconded it. There is a need for trustee training to equip us in administering the compliance requirements of the charity commission. Especially there is a need for - Regular fire compliance, Pasto Dapo confirmed our compliance with it. - Robust Child protection policy, which Pastor Dapo confirmed that we are compliant - Meeting to focus more on Strategic issues leaving operations to the Pastor and the leadership team. - Legal structure compliance. **Action** : Pastor Dapo to speak to Duncan because we have overgrown the current structure. Hoping that a Charitable incorporated organization limited by guarantee is the right way to go. - Explicit the expenditures because this is the focus of the public interest. - Contact the central office to inspect accounts to capture their inputs in our accounting duties. - Accounts/reports should reflect the charity and volunteering duties performed, such as person-hours of volunteers for missions and evangelism. Closed at 18.36 with a closing prayer by Pastor Ade Registered Charity Number **1182416** ## **RCCG The Kings Glory Church** ## **Financial Statement For The Year Ended** **31st December 2022** **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**| |---|---|---|---|---|---|---| ||Annual accounts for theperiod|||||| ||Period start date|**1st Jan 22**|**To**|Period end date|**31st Dec 22**|| |||||||| |**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 resources expended_**
**_Total incoming resources_**
**_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**||**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total this year Total last year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05||||| |||-|-|-|-|-| |||140,797|-|-|140,797|142,893| ||||-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||140,797|-|-|140,797|142,893| |||||||| |||-|-|-|-|-| |||111,435|-|-|111,435|45,792| |||-|-|-|-|-| ||||-|-|-|-| |||18,449|-|-|18,449|12,632| |||-|-|-|-|-| |||-|-|-|-|-| |||129,885|-|-|129,885|58,424| |||10,912|-|-|10,912|84,469| |||-|-|-|-|-| |||10,912|-|-|10,912|84,469| |||||||| ||||-|-|-|55,000| ||||-|-|-|-| |||10,912|-|-|10,912|139,469| |||298,914|-|-|298,914|159,445| ||||||-|-| |||309,826|-|-|309,826|298,914| Page 1 ## **RCCG The Kings Glory Church** ## **Section B Balance sheet as at 31st December 2022** |Note
**Fixed assets**
**Tangible assets (Note 9)**
B01
B02
**Investments (Note 10)**
B03
**_Total fixed assets_**
B04
**Current assets**
**Stock and work in progress**
B05
**Debtors (Note 11)**
B06
**(Short term) investments**
B07
**Cash at bank and in hand (Note 13)**
B08
**_Total current assets_**
B09
**Creditors: amounts falling due within one**
**year (Note 12)**
B10
**_Net current assets/(liabilities)_**
B11
**_Total assets less current liabilities_**
B12
**Creditors: amounts falling due after one**
**year (Note 13)**
B13
**Provisions for liabilities and charges**
B14
**_Net assets_**
B15
**Funds of the Charity**
**Unrestricted funds**
B16
B17
**Restricted income funds (Note 14)**
B18
**Endowment funds(Note 15)**
B19
**_Total funds_**
B20
Signed by|Note
**Fixed assets**
**Tangible assets (Note 9)**
B01
B02
**Investments (Note 10)**
B03
**_Total fixed assets_**
B04
**Current assets**
**Stock and work in progress**
B05
**Debtors (Note 11)**
B06
**(Short term) investments**
B07
**Cash at bank and in hand (Note 13)**
B08
**_Total current assets_**
B09
**Creditors: amounts falling due within one**
**year (Note 12)**
B10
**_Net current assets/(liabilities)_**
B11
**_Total assets less current liabilities_**
B12
**Creditors: amounts falling due after one**
**year (Note 13)**
B13
**Provisions for liabilities and charges**
B14
**_Net assets_**
B15
**Funds of the Charity**
**Unrestricted funds**
B16
B17
**Restricted income funds (Note 14)**
B18
**Endowment funds(Note 15)**
B19
**_Total funds_**
B20
Signed by|**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| |---|---|---|---|---|---|---| |||487,211|||487,211|500,409| |||||||| |||||||| |||487,211|||487,211|500,409| |||||||| |||||||| |||300|||300|300| |||||||| |||24,564|||24,564|10,008| |||24,864|||24,864|10,308| |||||||| |||250|||250|250| |||||||| |||24,614|-|-|24,614|10,058| |||||||| |||511,825|-|**-**|511,825|510,467| |||||||| |||201,999|-|-|201,999|211,553| |||-|-|-|-|-| |||||||| |||309,826|-|-|309,826|298,914| |||||||| |||309,826|||309,826|298,914| |||||||| |||||||| |||||||| |||||||| |||309,826|-||309,826|298,914| |||||||| |||Print
Signature|||Date of approval
Name|| |||||||| |||||||| |||||||| Page 2 ## **RCCG The Kings Glory Church** ## **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 Page 3 ## **RCCG The Kings Glory Church** ## **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**|| |---|---| |**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.| Page 4 ## **RCCG The Kings Glory Church** ## **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.**_ |**Gift Aid**
**Investment income**
**Incoming resources from**
**charitable activities**
**Voluntary income**|**Analysis**|**This year**
**£**|**Last year**
**£**| |---|---|---|---| ||Tithes,offeringand thanksgiving|140,797|142,893| ||Building|-|-| ||Other||| ||Interest earned||| ||**Total**|140,797|142,893| ||||| ||Gift aid||11,616| |||-|-| |||-|-| |||-|-| |||-|-| ||**Total**|-|11,616| ||||| |||-|-| |||-|-| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| ||||| ||||| ||||| ||||| ||||| ||||| ||||| ||**Total**|-|-| Page 5 ## **RCCG The Kings Glory Church** ## **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.** |**Investment management**
**costs**
**Charitable activities**
**Costs of generating**
**voluntary income**|**Analysis**|**This year**
**Last year**
**£**
**£**|**This year**
**Last year**
**£**
**£**| |---|---|---|---| ||Hospitality|2,446|1,299| ||Multimedia|12,796|9,714| ||Transport|362|-| ||Children|727|626| ||Admin|5,707|1,251| ||Choir|5,242|-| ||Utility|6,503|2,927| ||Honourarium|5,850|2,250| ||Sanctuary|9,701|2,583| ||TrainingEvents|600|2,200| ||Rent|-|1,083| ||Men Department|984|-| ||Women Department|1,127|-| ||Usher|264|-| ||Bounce Back loan Interest|334|| ||Pastor's Allowance|14,400|| ||Telephone||395| ||Charges||68| ||Depreciation|35,258|18,480| ||Professional Fees||2,450| ||Cleaning||465| ||Mortgage Interest|9,132|| ||**Total**|**111,435**|**45,792**| ||||| ||RCCG WEM|9,104|11,205| ||RCCG COF|300|300| ||Evangelism|830|| ||Outreach Events|4,476|357| ||Welfare||300| ||Donation||240| ||CharitySupport|3,739|230| ||**Total**|**18,449**|**12,632**| ||||| |||-|-| |||-|-| |||-|-| ||**Total**|**-**|**-**| Page 6 **Section C Notes to the accounts (cont)** ## **RCCG The Kings Glory Church** ## **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).**_ |**Independent examiner’s or auditors' fees for reporting on the accounts**
**Other fees (for example: advice, consultancy, accountancy services) paid to**
**the independent examiner or auditor**|**This year**
**£**|**Last year**
**£**| |---|---|---| ||250|250| |||| Page 7 ## **RCCG The Kings Glory Church** ## **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**
**£**
**£**
**£**
**£**
At 1st Jan 2014
275,000 235,272 8,617
Additions
14,560
7,500
Revaluations
Disposals
Transfers *
Balance carried
forward
275,000 249,832 8,617 7,500
****Basis**
SL or RB
SL or RB
SL or RB
**** Rate**
Balance brought
forward
-
16,326
2,154
-
Depreciation charge for
year
31,229 2,154 1,875
Impairment provisions
- - -
Revaluations
- - -
Disposals
- - -
Transfers*
- - -
Balance carried
forward
- 47,555 4,308 1,875
Brought forward
275,000 218,946 6,463
-
Carried forward
275,000 202,277 4,309 5,625
**9.3 Net book value**
**9.2 Accumulated depreciation and impairment provisions**|**Church Building**
**£**|**Building work**
**£**|**Furniture**
**£**|**Motor van**
**£**|**Total**| |---|---|---|---|---|---| ||||||**£**| ||275,000|235,272|8,617||518,889| |||14,560||7,500|22,060| ||||||-| ||||||-| ||||||-| ||275,000|249,832|8,617|7,500|540,949| ||||||| ||
SL or RB|SL or RB|SL or RB||| ||||||| ||||||| ||-|16,326|2,154|-|18,480| |||31,229|2,154|1,875|35,258| ||-|-|-||-| ||-|-|-||-| ||-|-|-||-| ||-|-|-||-| ||-|47,555|4,308|1,875|53,739| ||||||| ||275,000|218,946|6,463|
-|500,409| ||275,000|202,277|4,309|5,625|487,211| Page 8 **RCCG The Kings Glory Church** **Section C Notes to the accounts (cont)** ## **Note 11 Debtors and prepayments** _**Please complete this note if the charity has any debtors or prepayments.**_ |**Analysis of debtors**
**Trade debtors**
**Amounts due from subsidiary and associated undertakings**
**Other debtors**
**Prepayments and accrued income**
**Total**|**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** |**Finance charge**
**Trade creditors - accountancy fees**
**Amounts due to subsidiary and associated undertakings**
**Mortgage lender**
**Bounce Back Loan**
**Total**|**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||-|| |||||-|| ||-||190,415|196,763|| ||-||11,583|14,790|| ||250|250|201,999|211,553|| Page 9 **RCCG The Kings Glory Church** ## **INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 DECEMBER 2022** ## **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 2022 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: 24th Oct 2023