THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE Charity reg. no: 1183158 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 CONTENTS PAGE Referen and administratlve detalls Trustees report Independent Examiner's report Statement of Financial Actlvltles Balance sheet Notes to the accounts 10-12 Page I
THE REDEEMED CHRIsfIAN CHURCH OF GOD HOUSE OF MERCY MIGH WYCOMBE ORGANISATION'S INFORMATION FOR THE PERIOO ENDED 31 DECEMBER 2024 Trustees Mr Shodolu Coker Mrs Jennifer Oduro Mr Victor Obanawu Parish Pastor Pastor Olufunke Stephen Principal Office 2 Sydney Street Aylesbury HP21 9GX Independent Examiner Akintayo Ojo FCCA Resource Management Consultants Ltd 46 Hollywood Way Erith DA8 2QE Bankers Barclays PIC 16 High Street Hlgh Wycombe HPII 2BE Page 2
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE TRUSTEE'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024 The trustees submlt thelr report and financlal statement for The Redeemed Chr15taln Church of God House of Mercy Hlgh Wycombe (The Charity) for the period ended 31 December 2024. The trustees confirm that the trustees, report and financlal statements comply wlth current statutory qu1mentS and the provisions of the regulators. STRUCTURE, GOVERNANCE AND MANAGEMENT The Redeemed Christian Church of God - House of Mercy High Wycombe Is a church plant of The Redeemed Christian Church of God House of Mercy Aylesbury. It was registered as a charity in England and Wales ith a trust deed dated l January 2016. It was registered with Charity Number 1183 158 The trustees whlch conslst of the members that Manages the actlvities of the charity. The parlsh pastor oversees the church. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES The indijction process for a newly appointed trustee consist of an lllnltlal meetlng with the chalr and other members of the board, followed by short meetings with the parlsh pastor on the powers and responslbillties of the trustees. ORGANISATIONAL STRucfuRE AND DECISION MAKING The trustees meets regularly to manage the affairs of the organisation while the parlsh pastor oversees the spiritual actlvlties of the church. RELATED PARTY TRANSACTION RCCG - House of Mercy High Wycombe is a parlsh of The Redeemed Chrlstlan Church of God wlth parishes all over the world. The parish's relationshlp wlth other parlshes is governed by an Agreement Common purposes, thmugh RCCG House of Mercy Aylesbury. RISK MANAGEMENT The trustees have assessed the major rlsks to which the charity is exposed, In partlcular those related to operations and finances of the charity, and are satisfied that systems are In pla to mitigate our exposures to major risks. OBJECTIVES AND ACTIVITIES The prlncipal object is the advancement of Chrlstlan falth In accordance with the statement of beliefs of The Redeemed Chrlstlan Church of God, and the relief of poverty. To achieve its objectives, the church adopted the following strategies: Running Sunday worship services, prayer meetings and mldweek bible studyi and Supportlng other charities and Christian events, Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE TRUSTEE'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024 PUBUC BENEFITS The Church's Sunday and mid-week services are open to the general pu blic to bulld on thelr Chrlstaln falth. Apart from Its Church activities, the charity was involved In the following pu blic beneflt efftjrts: Contrlbutlng to food banks for the less previledged in our community arid givlng out food items In the local market monthly. Holding outreaches in areas of Interest to our communlty. In the year we shared the joy of and wlth our community by organsing a Carol servlce, we also celebrated the Mothers, day In our communlty. We gave glfts, provide support and share the message of goodwill from the gospel in the communlty. During the pandemic, the church supported members of communlty who are in need through the Love Your Nelghbour project. Our efforts" are geared towards supporting the programmes of our local communlty, promoting cohesion in our communlty, and Impacting the Ilves of the you ng people and the elderly. GRANT MAKING POLICY The chu rch supports visiting ministers of the gospel both withln and OLttslde the United klngdom. Support Is also given to RCCG Central Offfice, World Evangelism Mission, and other RCCG events. The Church supports other charltles and missionary that shares Its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grants to members of the community who are in need. VOLUNTEERS The church is grateful for the unstlntlng efforts of its volunteers who are Involved in providing services for the charity. It Is estlmated that over 1000 hours was provlded by volunteers during the year. If this is conservatively valued at £7.50 per hour, the volullteers effort wlll amount to over £7,500. REVIEW OF AcfIvITIES The church continues to enjoy tremendous growth in its physical and spiritual Ilfe durlng the year, and in advancement of christian faith in accordance with the doctrlnes set out in its statement of falth contained in our governlng documenl. RESERVES POLICY The trijstee's policy Is to have unrestrlcted and uncommltted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable the current activities to continue if there Is any significant drop in ftjnding. It would obviously be necessary the to consider how the funding would be replaced or activitles changed. Page 4
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE TRUSTEE'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024 PRINCIPAL FUNDING Fundlng has been provided malnly through tithes and offerings by church members and through donations. Pledges a also taken for speclfic projects. FUTURE DEVELOPMENTS The charlty contlnues to explore various ways of spreading the gospel of Christ in an effective manner. The charlty is also looking to grow in membership and contlnue to develop its members to make life-changing impact In the community. Page 5
REDEEMID CHRisfiAN tHURCII OP aOD MOUSE OF MERCY HIGH WYCOMJE TRUSTEE'S REPORT FDA TAE PEklDD ENt)ED 31 flÈCE7fjBER 2D24 STATEMENT OF TRUSTEE5' RESPON51BILrnES .' The trnstees aré re5ponslble for preparlng the annual report and flnantlal Jtst•ménts Ih attor- , don wlth appllcablt laws aftd Wulatlons. . CTharlty law Tegulres the trustees to prepare flnanclal 5tstements for each flnanclal year. that law. the iyustees have elected to prepare the flnanclal statements In accordan wlth the ithtted Klngdom Generally Acceptable Accountlng Practice (Unlted Kingdom Accountifig Standards t..-, and appllcable law). The flnanclal statements are required to glve a true and fair vlew ol the state *, of afv.1 ofthe thanfy and of the surplus or deficit of the charity lor that period. In preparfn9 the frnanclal ststements, the trustees are requlred to: Selert gjltable acrountFng pollcles and apply them conslstentlyi - fvlake judgement and estimates that are reasonable and prudent; Prepare the financial statement5 on a golng concern basls unless it is Inappropriate to presume that the company will continue in operation. The tTrees recognise their responslbllltles to keep proper accountlng records that disdose with reasonable acoJrdCy at any time the financial position of the charity and enable them to ensure that the financial ststements comply with the Charities Act 2011. They are also responsible for safeguardtng the assets OF the charity and henceforth tak'lng steps for the prevention ané detection of fraud and other irregularities. appended fjnancial statements have been prepared on the accruals basis and have been examined by an independent examlner, whose report is also appended. Apprnved by trustees on 2716 2025 and signed on thelr behalf by: Mr Shodolu Coker Chair Mrs Vlctor Obanawu Trustee
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE INDEPENDENT EXAMINERS REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024 TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD - HOUSE OF MERCY - HIGH WYCOMBE. I report on the accounts of the charity for the perlod ended 31 December 2024 whlch Is set on pages 8 - 12 of this report. RESPEcfIvE RESPONSIBILrrIES OF THE TRUSTEES AND THE EXAMINER The trustees are sPonsIble for the preparation of the accounts. The trustees consider that an audit is not required for the period under the relevant section of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to: examine the accounts under sectlon 145 of Charlties Act 2011; follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention. BASIS OF MY EXAMINATION My examlnation was carried out in accordance with the General D1ctionS given by the Charity Commission. An examination includes a revlew 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 account, and seeking explanations from you as members board of 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. EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention.. (l) which gives me reasonable cause to believe that in any material respect the trustees have have not met the requirements to ensure that: proper accounting records are not kept in accordance with statutory requirement; and accounts are prepared which agree with the accounting records and comply with the accounting requirements of Charitles Act 2011; or (2) to which, in my opinion, attention should be drawn in order to enable a proper under- standlng of the accounts to be reached. Akintayo Ojo FCCA 1st July 2025 46 Hollyw¢)od Way, Erith. DA8 2QE Page 7
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE STATEMENT OF FINANCIAL AcrIvttlES FOR THE PERIOD ENDED 31 DECEMBER 2024 Unresirlct4d R•Striciad Total Total Funds Funds Funds Funds Notes 2024 2024 2024 2023 Incoming resources Donations & Incoming resources Total incoming resources 32,581 32,581 32,581 32,581 20,244 20,244 Resources expended Grants payable - individuals Grants payable - Institutional Cost of activities In furtheran of charlty's objects Management and governance cost Total resources expended 300 2,900 18,007 900 22,107 1,530 28,416 975 30,921 1,530 28,416 975 30,921 Net(outgolng)/lncoming resources for the year 1,660 1,660 1,864 Total funds at the start of the year 1,435 1,435 3,299 Balance at the end of the year 3,095 3,095 1,435 Page 8
THe REDEEMED CHRXMAN CHURCH Olt GOD HOUSE OF MeRCY HIGH WYCOMBI BALANCE SHEEr FOR ThE PEMIOD ENtm 31 tcEmBER 2ts24 :,. NoteB 1024 2024 *023 T•ngible Ix•J assets at bank and in hand ' 1,664 1,664 2,035 L¥&. turrentliaknlfties: c)wJitOTS: Amount falllng due within 600 3,095 3.095 FInanC BY: Charlty funds Geral . restrtcted Genernl - unrestrirted 3,095 3,095 1,435 The accounts have been ppared in accordance wlth the provision of Statement of RKommende(I p1<¥. Acrounting and Reporting by Charltle5 (SORP) 15sued March 2008 as modified for smalter tharltyes. J7P4 June 20Z5 tind Siyfied Dn their behalf by: A&iptovÈd by the trustee5 on u Coker Mr Vlctor Obanaw Trustee Chair Page 9
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2024 I. ACCOUNTING POLICIES (1.1) Basis of preparation of financlal statements These accounts have been prepared under the historical cost collvention and in accordance with the Financlal Reportlng Standard for Smaller Entities (effective April 2008) .The financial statements have been prepared with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charltles publlshed In March 2005 and applicable accounting standards. (1.2) Incoming resources All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be reasonably quantified with reasonable accuracy. (1.3) Resources expended All expenditures are accounted for on an accrual basis. Management and governance costs are cost incurred in connection with administration and compllance with statutory requiremeTrt (1.4) Fixed assets comprices of muslcal equlpments, projectors cost and a mini van. Depreciation are charged at rates listed below to wrÉte off the cost of the assets over thelr useful lives. Equipments 250/0 reduclng balance Motor vehlcle 25% reduclng balance Unrestricted Restricted Total Total Fund5 2024 Funds 2024 Funds 2024 Funds 2023 2. DONATIONS, LeGAaES AND SIMIL4R INCOMING RESOURCES Offerings and collections Grants.. RCCG House of Mercy Aylesbury Glft aid claimed Donations - Other 26,708 26,708 17,340 4,683 1,190 32,581 4,683 1,190 32,581 2,629 275 20,244 3. Grants payable - indivldual Individual welfare 300 4. Grants payable - institutional Charltable glving -UK 1,530 1,530 2,900 Llst of institutlonal grants payable RCCG WEM World Evangelism RCCG Central Office COF Support RCCG Great Grace Assembl, World Evangellsm RCCG Camp Ground UK COF Support Total grant payable institutlonal 980 550 980 550 500 300 1,600 500 2,900 1,530 1,530 Page 10
THE REDEEMED CHRIsfIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2024 unrestritted Restritted Total Total Fund5 Fun(Js Funds Funds 2024 2024 2024 2023 5. COST OF ACTIVITIES IN FURTHERANCF OF CHAR Worship cost Hall hire, rent & rates Printing, books & tracts Travel & subsistence Visiting ministers expenses confence & events Welfare & hospitallty Telephone Missions & evangellsm Staff cost & volunteers expenses Mlsslon tralnlng Church expenses Community project Depreciation 1,460 3,909 1,460 3,909 465 4,100 2,860 1,150 650 1,540 400 3,450 8,150 1,170 506 2,694 477 28,416 2,860 1,150 650 1,540 400 3,450 8,150 1,170 506 2,694 477 28,416 2,505 500 1,950 550 1,500 3,000 3,437 18,007 6. MANAGEMENT AND GOVERNANCE COSTS Perlod ended erlod ended 31-Dec 2023 Unrestricted Resthtted 31-Dec 2024 Funds Funds Admlnlstration costs Professlonal fees Accountancy fees 375 600 975 375 600 975 300 600 900 period ended 31-Dec Period eni 31-Dec 2024 2023 7. CASH BALANCES Total cash balances held in all current accounts at period end 1,664 1,664 2,035 2,035 Page 11
THE REDEEMED CHRISTIAN CHURCH OF GOD HOUSE OF MERCY HIGH WYCOMBE NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 8. TANGIBLE FIXED ASSETS Muslcal Computers equipments & projectors Total 31-Dec 2024 Total 31-Dec 2023 Cost At l January 2024 Additions At 31 December 2024 Depreciation At l January 2024 Charge for the year At 31 December 2024 3,000 250 1,908 2,158 3,250 1,908 5,158 3,250 3,000 3,250 3,000 250 477 727 3,250 477 3,727 3,250 3,000 3,250 Net book value At 31 December 2024 At 31 December 2023 1,431 1,431 9. CREDITORS Period ended Èriod ended 31-Dec 31-Dec 2024 2023 ACced accountancy fees 600 600 10. RELATED PARTY TRANSAcfioNS During the year, the church pald institutional grants to other RCCG organisations such as the World Evangelism Mission as stated In note 4. 11. NET INCOMING RESOURCES/(RESOURCES EXPENDED) Thls Is stated after charglng period ended 'eriod ended 31-Dec 31-Dec 2024 2023 Depreciatlon of tangible assets owned by the charlty Accountant's fees 600 600 12. TRUSTEES RENUMERATION period ended 'eriod ended 31-Dec 31-Dec 2024 2023 Durlng the year, no Trustee received any remuneratlon During the year, no TNstee received any benefits in klnd NIL NIL NIL NIL Page 12