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2021-08-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD "RCCG" LIVING PRAISE PARISH

Report and Financial Statements

For the Year ended 31 August 2021

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 August 2021

Contents Page
Legal and Administrative Information 2
Report of the Trustees 3-7
Independent Examiner's report 8
Statement of Financial Activities 9
Balance sheet 10
Notes forming part of the Financial statements 11-13

1

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 August 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Officers and Professional advisers

TRUSTEES

VINCENT OPEOLUWA DINA GRACE MODUPE OLAWEPO CHUKWUMA ANSELM OKOJIE

REGISTERED OFFICE

20 FAIRLEIGH CRESCENT TINGLEY WAKEFIELD WF3 1PN

BANKERS

LLOYDS/TSB BANK

EXAMINER

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

CHARITY COMMISSION REGISTERED NUMBER 1182943

2

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 August 2021

The Trustees, for the purposes of the Charities Act 1993 as amended and Statement of Recommended Practice (SORP) 2005, submit their annual report and financial statements for the year ended 31 August 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual report and financial statements of the Charity. The Charity is governed by a Memorandum and Articles of Association.

PRINCIPAL ACTIVITIES, AIMS AND ORGANISATION OF THE CHARITY

The principal activities of the charity continue to be the provision of religious activities, church services, counselling, seminars and other community-based services. The objects of the trust ("the objects") are:

1) The advancement of Christian faith in United Kingdom and worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule.

2) The relief of poverty.

3) Giving psychological and emotional assurance to members via the word of faith and spiritual support

THE MAIN ACHIEVEMENTS OF THE ORGANISATION DURING THE PERIOD WERE:

  1. At Christmas we made gift donations to the widows in the community.

  2. We gave out food items at Christmas to many families in the community, who are low-income earners.

  3. We organized Christmas carol and party for our members and the community, which was attended by other Pentecostal church members.

  4. As part of our contribution to our community, Our Sanitation department Volunteers Clean/Sweep the community centre where we hold our meetings every week.

  5. We regularly visit and pray for the sick in the hospital and at home to give them spiritual support.

  6. We offer free transportation services to members of the community from their houses to meeting centres.

  7. Our drop-in-centre, continue to serve the community and members with free Tea/Beverages/Coffee and Orange/Apple Juice with snacks every Sunday afternoon from 11am -3pm.

  8. We provided counsel and information for people/family facing homelessness, and accommodation challenges; we were able to refer 2 people to Local authority and other organisation who assisted them.

9. Provided free revision classes for primary pupils

  1. We continue to carry out various youth programmes for our youth in the community and we have received reports from parents that our youths are behaving well at school and Home.

  2. we encourage the members to start their own business.

  3. We organise quarterly question and answer programme for Family in the community, tagged “Family Forum”.

  4. We donate regularly to the following charity: THE FORGE PROJECT and RCCG FESTIVAL OF LIFE.

  5. We did CHRISTMAX LOVE BOX project for the deprived families during Christmas.

  6. We organised children programme where they showcase their talents in singing, acting and presentation.

16.We organised summer picnic to raise the mood of everyone who have time to come to the seaside.

3

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH REPORT OF THE TRUSTEES (Continued)

FOR THE YEAR ENDED 31 August 2021

PLANS FOR THE FUTURE

We plan to continue carrying out various youth programmes for our youth in the community. Already we have received reports from parents that our youths are behaving well at school and home.

INCOME GENERATION

The Charity has generated £47,905 in donations during the year. This includes both direct transfers into charity’s account and cash donations.

RISKS

The factors that may affect the Charity’s delivery of its objectives include:

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH produces an annual plan for delivery against its objectives. This plan sets out the targets for the year and is then broken down to a work plan. THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH has developed a strategy, which specifies how it will deliver the key programmes of work. The strategy also identifies targets and performance indicators.

RESERVES POLICY

The Charity aims to build reserve which will enable it to meet its average annual operational need. The Trustees review the reserves held by the Charity on a regular basis to ensure that an appropriate level of funds are held to meet the above policy of the Charity going forward.

4

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 August 2021

GOVERNANCE AND INTERNAL CONTROL

A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years. At 31 August 2021, the Board had a membership of Three people.

The Board meets three times a year to agree key policy decisions, set the strategy for the charity and oversee its performance. At present the Board has committee members who are responsible for the day to day activities of the charity. None of the committee members is being remunerated.

All Trustees receive the handbook for Trustees’ provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this the Charity follows the code of practice for governance produced by the Governance Hub.

Company law requires the Trustees to prepare financial statements for each financial year, which comply with the Charities Act 1993 as amended

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

They include:

5

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 1993 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

6

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 August 2021

DISCLOSURE OF INFORMATION TO EXAMINER

The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information.

EXAMINER

In line with the provision exemption in the Charities Act 1993 as amended, the trust decided to appoint an examiner, which will reviews the accounts for the year ended 31 August 2021. In accordance with this appointment, AACSL Accountants Limited was appointed as examiner.

Approved by the Board of Trustees and signed on behalf of the Board by:

GRACE MODUPE OLAWEPO on behalf of the trust. Trustee 27 September, 2021

7

Independent Examiner’s Report to the Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH

We report on the accounts of the Trust for the year ended 31 August 2021, which are set out on pages 9 to 13.

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 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed.

It is our responsibility to:

Basis of independent examiner’s report

Our 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 we do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

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

(1) Which gives us reasonable cause to believe that in any material respect the requirements,

Have not been met; or

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

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

27 September, 2021

8

RCCG LIVING PRAISE PARISH STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) for the year ended 31 August 2021

Notes
INCOMING RESOURCES
Donations, Legacies and similar incoming resources
TOTAL INCOMING RESOURCES
2
RESOURCES EXPENDED
Cost of generating funds:
Cost of generating voluntary Income
Charitable Activities:
Community Projects /Other Resources Expended
Governance
TOTAL RESOURCES EXPENDED
3
Net income/(expenditure)
Funds brought forward
Net movement in funds and funds balance carried
forward as at 31 August 2021		 Un-restricted
funds
2021
£
41,384
41,384
-
(1,750)
(4,427)
(6,177)
35,207
39,158
74,365		 Restricted
Funds
2021
£
6,521		 Total Funds
2021
£
47,905		 Total Funds
2020
£
29,148
6,521 47,905 29,148
-
(2,427)		 -
-
-
-
(4,177)
-
(4,427)
-		 (1,700)
-
-
-
(8,016)
-
(2,193)
-
(2,427) (8,604) (11,909)
4,094 39,301
-
39,158
-		 17,239
-
21,918
-
4,094 78,459 39,158

9

RCCG LIVING PRAISE PARISH Balance Sheet as at 31 August 2021

Notes
FIXED ASSETS
Equipment at cost
Accumulated depreciation
TOTAL FIXED ASSETS
5
CURRENT ASSETS
Debtors and accrued income
Cash at bank and in hand
CREDITORS: amount falling due within one year
6
Net Current assets/(Liabilities)
TOTAL ASSETS LESS CURRENT LIABILITIES
FINANCED BY:
Unrestricted funds
Restricted Funds
TOTAL FUNDS
7		 2021
Total
£
9,195
(1,655)
7,540
-
71,319
71,319
(400)
78,459
78,459
74,365
4,094
78,459		 2020
Total
£
-
-
-
-
39,408
39,408
(250)
39,158
39,158
39,158
-
39,158

For the year ending 31 August 2021, the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The Accounts was approved by the Board of Trustees and signed on behalf of the Board by:

GRACE MODUPE OLAWEPO on behalf of the trust. Trustee 27 September, 2021

10

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 August 2021

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (2005), the Charity Act 1993 and applicable UK accounting standards.

Cash flow statement

Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement on the grounds that the charity is below the threshold specified in Appendix 2 of the FRS1.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in Note 2.

Investment income and gains are allocated to the appropriate fund.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income being received, the income is accrued.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Premises overheads have been allocated on a floor basis and other overheads have been allocated on the basis of the head count.

Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. Governance costs are those incurred in connection with governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements. The basis of allocation for support costs and governance costs has been explained in Note 3.

11

RCCG LIVING PRAISE PARISH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 August 2021

Note 2. TOTAL INCOMING RESOURCES

12
Voluntary Income
2021
2020
Un-restricted:
Donations, Legacies and similar incoming resources
41,384
29,148
Restricted:
Other direct Collections
6,521
3,100
47,905
32,248
Note 3.
TOTAL RESOURCES EXPENDED
Direct
Support
2021
2020
Costs
Costs
Total
Total
£
£
£
£
Cost of generating funds
-
-
-
Charitable Costs
2,427
1,750
4,177
8,016
Honorarium
-
-
1,700
Accountancy
400
400
313
Rent
1,368
1,368
980
Remmitance to head Office
1,004
1,004
900
2,427
4,522
6,949
11,909
The trust allocates all costs as shown in the table above. Costs are allocated between direct costs and support costs
based on the actual expenditure and nature of transactions.
Operating Surplus is after charging:
2021
2020
£
£
Accountancy, Taxation and other Services
400
250
400
250
Note 4.
TRUSTEES REMUNERATION
The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2020: £nil)
Note 5.
FIXED ASSETS
Equipment
2021
2020
£
£
£
Cost
-
-
-
Additions
9,195
9,195
-
Revaluation
-
-
Disposal
-
-
Total Costs
9,195
9,195
-
Depreciation
Balance brought forward
-
-
Charge for the year
1,655
1,655
Balance carried forward
1,655
1,655
-
Note 6.
CREDITORS: amount falling due within one year
2021
2020
This is made up as follows:
£
£
Other Creditors
400
250
Legal Costs
400
250		 2021
41,384
6,521		 2020
29,148
3,100		 2021
2020
Total
Total
£
£
-
-
4,177
8,016
-
1,700
400
313
1,368
980
1,004
900		 2021
2020
Total
Total
£
£
-
-
4,177
8,016
-
1,700
400
313
1,368
980
1,004
900
47,905 32,248
Direct
Costs
£
-
2,427
-		 Support
Costs
£
1,750
400
1,368
1,004
2,427 4,522 6,949
11,909
costs and support costs
2021
2020
£
£
400
250
400 250
9,195 9,195
-
1,655		 -
1,655
1,655 1,655
400
250

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 August 2021

Note 8. TAXATION

THE REDEEMED CHRISTIAN CHURCH OF GOD “RCCG” LIVING PRAISE PARISH is a registered charity and is thus exempt from taxation of its income and gains falling within Section 505 of the Income and Corporation Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year.

13