THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
Charity Reg No 1183496
TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
CONTENTS
| Reference and Administrative Details of the Charity | 3 |
|---|---|
| Trustees' Annual Report | 4 - 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Statement of Financial Position | 10 |
| Note to the Financial Statements | 11-14 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES & ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees:
Charity Registration Number:
Dr Oluwatosin Lagoke Mrs Linda Seshie Mrs Rachael Orororo 1183496
Principal Office:
Pastor in Charge:
Mr Adebanjo Adeniran
Independent Examiner:
Godswill Babalola FCCA, MSc Chartered Certified Accountant 2 Eglantyne Avenue Tadpole Garden Village Swindon, SN25 2QJ
Bankers:
Lloyds Bank Highstreet Old town Swindon
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees submit their annual report and confirm the annual report and financial statement comply with the current statutory requirements of the charity’s governing document and the provision of the Statement of Recommended Practice (SORP FRS 102) “Accounting and Reporting by Charities” issued in January 2019.
STATUS
The charity is constituted under a Trust deed dated 11[th] January 2019 and is registered in England and Wales with charity number 1183496.
APPOINTMENT OF TRUSTEES
Trustees were appointed under the terms of the trust deed. During the year under review, there was no replacement in the membership of the Board of Trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The trustees usually meet quarterly and occasionally as needed to manage the affairs of the charity. All major decisions are collectively taken by the trustees. The trustees are unpaid, and details of any related party transactions are disclosed as applicable in the notes to the account. The Pastor in Charge manages the day-to-day administration of the church.
RELATED PARTY RELATIONSHIPS
The charity is a parish of The Redeemed Christian Church of God (RCCG) which has parishes all over the world. The charity's relationship with other RCCG parishes is governed by an Agreement for Common Purposes'.
GRANT MAKING POLICY
The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelical mission, and other RCCG programs to help with their administrative expenses. The church supports other charities and missionaries that share its objects in advancement of Christian faith and relief of poverty. From time to time, we work with our local homeless charity, and make donations to our local Shelter helping people in our local community who are struggling with homelessness or housing related issues.
VOLUNTEERS
We commend all our dedicated workers and volunteers who tirelessly offer their services in various capacities, playing a pivotal role in the spiritual development and growth of our congregation. Special recognition is also extended to our volunteers in the children's department for the invaluable time and effort they invest in teaching our Sunday school classes for children. Your unwavering commitment is truly commendable and greatly appreciated. We also want to express our deep appreciation for our pastor, whose tireless dedication continues to serve the needs of our members and ensures the smooth day-to-day operations of the charity. It's our prayer that the Lord will continue to strengthen you in His work.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2022
OBJECTS AND ACTIVITIES
The principal object is the advancement of Christian faith worldwide, the relief of poverty, and any charitable purpose at the discretion of the trustees for the benefit of the community.
To achieve its objectives, the charity
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Employs diverse teachings and studies to impact the knowledge of God.
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Conducts Sunday worship services, and midweek prayer meetings to build deeper spiritual understanding and growth.
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Runs seminars in the church with ministers of the faith to guide members in the various aspects of the Christian faith.
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Work in co-operation with other charities, organisations, churches, and support events with similar Christian aims and objectives.
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Engages in community activities and outreach projects to meet needs in our local community.
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Provide support for members in need and their families.
MAIN ACTIVITIES UNDERTAKEN IN RELATION TO OUR OBJECTIVES DURING THE YEAR
For our 10th-anniversary celebration, the church made a commitment to invest in our community. We initiated several projects, including the installation of a defibrillator at the Haydon Wick Centre to ensure the availability of life-saving equipment in our neighbourhood. Additionally, we extended our outreach efforts to various areas of the community, such as Children Hospital, Nursing Home, Shelter and the wider community.
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Children's Ward at GWH where we donated toys, games, colouring materials, and books to entertain and comfort young patients during their hospital stay.
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Visits to our local Nursing Home where we provided reading materials, scarves, heat packs, and essential toiletries for the residents, promoting their well-being and comfort.
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Throughout the holiday season, we maintained our partnership with Swindon Caring Hearts (SCH) who looks after the homeless in Swindon Town Centre. We distributed monthly food provisions and personal items as required.
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We continued to offer pastoral care to our church members and their families, aiding in their integration into the community. Additionally, we organised activities to foster lasting connections, especially among our children and young adults.
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Community outreach programmes in partnership with HaydonWick Parish council aimed at supporting the over 70s in our community during the festive period.
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We made donations to our local Shelter aimed at helping members of our community in need of a safe place and essentials.
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Our unwavering dedication lies in empowering individuals and positively impacting lives through the teachings of our Lord Jesus Christ. To achieve this goal, we conducted weekly prayer gatherings and Sunday services/schools to address the spiritual needs of our members.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2022
REVIEW OF ACTIVITIES
The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the statement of faith as contained in our Trust Deed. The church is in search of a permanent place of worship.
PRINCIPAL FUNDING
Funding has been provided mainly through tithes, offerings, and donations from our church members.
INVESTMENT POLICY
During the year under review, the trustees have decided funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts.
RESERVE POLICY
The trustees’ policy is to have unrestricted and uncommitted funds (free reserves) to cover 6 months of core activities expenditures which equals roughly £9,000 - £10,000 in general funds. The trustees feel that this would enable the current activities to continue if there is a significant drop in funding. The trustees are continuing to review the reserve policy each year.
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 that appropriate systems are in place to mitigate our exposure to the major risks.
PLANS FOR THE FUTURE
The church aims at building on its achievement in effectively spreading the gospel of our Lord Jesus Christ to the people around us. We will continue to support our members and the wider community with their spiritual needs to strengthen their faith. We also aim at increasing our efforts of community involvement in the bid to make our community a better place to live in and provide support/relief for those in need.
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY, SWINDON
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The charity trustees are responsible for preparing the Trustees' Annual Report and financial statements in accordance with applicable law and the 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 gives a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing the financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP.
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Make judgement and estimates that are reasonable and prudent.
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 Charity Act 2011.
They are also responsible for safeguarding the assets of the charity, hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accrual basis and have been examined by an independent examiner, whose report is also appended.
Approved by the trustees and signed on their behalf by:
Name: Rachael Orororo
Position: Treasurer and Trustee Member Signature: Date: 30[th] of October, 2023
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY SWINDON
INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 DECEMBER 2022
TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY SWINDON
I report on the accounts of the charity for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the statement of Financial Position, and related notes.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER
The charity's trustees are responsible for the preparation of the accounts. The charity' trustees consider that an audit is not required for this year under section 142(2) of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to:
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examine the accounts under section 145 of Charities Act 2011;
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follow the procedures laid down in the General Directions given by the Charity Commissioners (under
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section 145(5)(b) of the 2011 Act); and
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state whether particular matters have come to my attention.
BASIS OF EXAMINER'S STATEMENT
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.
EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 41 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of Act; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Godswill Babalola FCCA, MSc Chartered Certified Accountant 2 Eglantyne Avenue Tadpole Garden Village Swindon, SN25 2QJ
Date: 30[th] of October 2023
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY SWINDON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes INCOMING RESOURCES Other Income 2 Refunds/Returned Transfers 3 Donations and Legacies 4 Gift Aid 5 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of activities in furtherance of charity's objects 6 Grants Payable - Institutional 7 Management and Governance Cost 8 TOTAL RESOURCES EXPENDED Fixed Asset Write-Off Net Incoming/(outgoing) resources for the year RECONCILIATION OF FUNDS Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted Funds 2022 Total Funds 2022 Total Funds 2021 £ £ £ 42.73 42.73 1.62 3,100.00 3,100.00 800.00 51,756.03 51,756.03 35,200.27 9,513.72 9,513.72 - |
|---|---|
| 64,412.48 64,412.48 36,001.89 | |
| 28,646.44 28,646.44 13,038.91 13,680.76 13,680.76 8,945.24 314.40 314.40 288.00 |
|
| 42,641.60 42,641.60 22,272.15 | |
| (320.63) (320.63) - 21,450.25 21,450.25 13,729.74 |
|
| 42,935.89 42,935.89 29,206.15 21,450.25 21,450.25 13,729.74 |
|
| 64,386.14 64,386.14 42,935.89 |
The charity's incoming resources and resources expended all relate to continuing activities
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THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY SWINDON STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes FIXED ASSETS Intangible Asset 9 Tangible Fixed Assets 10 CURRENT ASSETS Cash at bank and in hand 11 Prepaid Expenditures 12 CREDITORS: amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CHARITY FUNDS Restricted Funds Unrestricted Funds 14 TOTAL FUNDS |
2022 2022 2021 2021 £ £ £ £ 46.77 113.10 5986.48 3511.89 |
2022 2022 2021 2021 £ £ £ £ 46.77 113.10 5986.48 3511.89 |
2022 2022 2021 2021 £ £ £ £ 46.77 113.10 5986.48 3511.89 |
|---|---|---|---|
| 6033.25 3624.99 58,476.96 41,939.47 83.93 83.93 |
|||
| 58,560.89 42,023.40 208.00 2,712.50 58,352.89 39,310.90 64,386.14 42,935.89 - - 64,386.14 42,935.89 64,386.14 42,935.89 |
|||
| 42,935.89 | |||
| - 42,935.89 |
|||
| 64,386.14 | 42,935.89 |
The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting.
Approved by the Trustees on 30[th] of October 2023
Signed on their behalf by:
Rachael Orororo
Treasurer and Trustee Member
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THE REDEEMED CHRISTIAN CHURCH OF GOD - CHRIST'S LOVE ASSEMBLY SWINDON
NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
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a) The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards. They follow best practice as set out in the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.
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b) Income and expenditure are accounted for on an accrual basis.
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c) Fixed assets comprise furniture and equipment and musical equipment and have been costing more than £100. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Musical Equipment - 25% reducing balance Furniture and fittings - 25% reducing balance Computer Equipment - 25% reducing balance
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d) Unrestricted funds are incoming resources received/receivable for the objects of the charity without further specified purpose and are available as general funds.
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e) Restricted funds are subject to restrictions on their expenditure imposed by their donors.
NOTES TO THE ACCOUNTS
| Collection at all services, Tithes, Pledges, and offerings from members of the Church 4. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES Voluntary Giving 2. Other Income Savings Interest 3. REFUNDS/RETURNED TRANSFERS Refund received from HMRC Transfer error/refund |
Unrestricted Funds Total Funds Total Funds 2022 2022 2021 £ £ £ 12.73 12.73 1.62 30.00 30.00 - |
|---|---|
| 42.73 42.73 1.62 |
|
| £ £ £ 100.00 100.00 - 3,000.00 3,000.00 800.00 |
|
| 3,100.00 3,100.00 800.00 |
|
| £ £ £ 51,756.03 51,756.03 35,200.27 |
|
| 51,756.03 51,756.03 35,200.27 |
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| Gift Aid 6. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY OBJECTS Community Outreach Depreciation Hall Hire, Rent & Rates IT Consumables Other Costs Publicity Office/General Administrative Expenses Sunday School Costs Travel and Accommodation Guest Speakers’ Honorarium Dues and Subscriptions 5. GIFT AID CLAIM ON DONATIONS Repairs and Maintenance Seminars & Conferences Staff Cost **Welfare & Hospitality Amortisation |
Unrestricted Funds Total Funds Total Funds 2022 2022 2021 £ £ £ 9,513.72 9,513.72 - £ £ £ 457.60 457.60 - 66.33 66.33 66.33 5,029.19 5,029.19 600.00 1,216.29 1,216.29 691.76 5,803.08 5,803.08 2,712.50 1,637.66 1,637.66 458.78 3,000.00 3,000.00 1,675.00 747.67 747.67 - 249.87 249.87 77.91 621.18 621.18 354.00 200.64 200.64 - 849.19 849.19 1,000.00 178.88 178.88 107.95 8,478.86 8,478.86 5,894.68 60.00 60.00 - 50.00 50.00 - |
|---|---|
| 28,646.44 28,646.44 13,638.91 |
- The community outreach expenses include the costs associated with acquiring, installing, and storing a defibrillator, cash gift to Shelter, gifts for the GWH children's ward, offering meals as part of the SCH homeless outreach program from October to December 2022, distributing Christmas parcels to individuals over 70 in collaboration with the Haydonwick Parish Council, gifts to the nursing home, and supporting various charitable projects and services throughout the year.
** Other Costs represent funds mistakenly transferred to the church's account by members (note 3), which have subsequently been refunded to them.
*** Welfare and Hospitality category encompasses expenses associated with our 10th anniversary celebrations, internal outreach programs and regular church activities, as well as providing support to our members during challenging times.
| 7. GRANTS PAYABLE - INSTITUTIONAL 7.1 LIST OF INSTITUTIONS GRANTS PAYABLE RCCG - Central Office Contributions RCCG - Provincial Contributions RCCG – WEM Contributions 8. MANAGEMENT AND GOVERNANCE COST Other Professional Services – Intuit |
£ £ £ 13,680.76 13,680.76 8,945.24 |
|---|---|
| 13,680.76 13,680.76 8,945.24 |
|
| £ £ £ 600.00 600.00 600.00 700.00 700.00 600.00 12,380.76 12,380.76 7,145.24 |
|
| 13,680.76 13,680.76 8,945.24 |
|
| £ £ £ 314.40 314.40 288.00 |
|
| 314.40 314.40 288.00 |
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NOTES TO THE ACCOUNTS
9. INTANGIBLE ASSET
| 9. INTANGIBLE ASSET | |
|---|---|
| Cost Additions At 31 December 2022 At 1 January 2022 Net Book Value At 31 December 2022 Charge for the year At 31 December 2022 Amortisation At 1 January 2022 |
Anti - Virus Total 2022 Total 2021 £ £ £ 199.00 199.00 199.00 0.00 0.00 0.00 |
| 199.00 199.00 199.00 |
|
| 85.90 85.90 19.57 66.33 66.33 66.33 |
|
| 152.23 152.23 85.90 |
|
| 46.77 46.77 113.10 |
10. TANGIBLE FIXED ASSETS
| 10. TANGIBLE FIXED ASSETS | ||
|---|---|---|
| Cost Historical cost Additions Disposal At 31st December 2022 Accumulated Depreciation At 1 January 2022 Charge for the year At 31st December 2022 Net Book Value At 31st December 2022 11. CASH BALANCES Cash in Bank & in hand at year end |
Musical Equipment Computer & Projectors Puppets & Staging Equipment Other Equipment Total 2022 Total 2021 £ £ £ £ 5,193.21 2,720.94 448.19 - 8,362.34 6,522.76 2,726.80 1,014.76 - 269.95 4,011.51 1,305.09 (63.49) (257.14) - - (320.63) 534.49 |
|
| 7,856.52 3,478.56 448.19 269.95 |
12,053.22 8,362.34 |
|
| 3,529.34 1,119.78 201.33 - 691.30 429.52 61.71 33.74 |
4,850.45 3,624.20 1,216.28 691.76 |
|
| 4,220.64 1,549.30 263.04 33.74 |
6,066.73 4,315.96 |
|
| 3,635.88 1,929.25 185.15 236.21 |
5,986.48 3,511.89 |
|
| 2022 2021 £ £ 58,476.96 41,939.47 |
||
| 58,476.96 41,939.47 |
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12. PREPAID EXPENSES
| 12. PREPAID EXPENSES 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Zoom Annual Subscription Staff Cost Accrual - Hall rents and hires At 1 January 2022 Surplus/(Deficit) for the year 14. FUNDS At 31 December 2022 |
2022 2021 £ £ 83.93 83.93 83.93 83.93 2022 2021 £ £ 0.00 2712.50 208.00 0.00 208.00 2712.50 Unrestricted Funds Total Funds Total Funds 2022 2022 2021 £ £ £ 42,935.89 42,935.89 29,206.15 21,450.25 21,450.25 13,729.74 |
2022 2021 £ £ 83.93 83.93 |
| 83.93 83.93 |
||
| 2022 2021 £ £ 0.00 2712.50 208.00 0.00 |
||
| 208.00 2712.50 |
||
| 64,386.14 64,386.14 42,935.89 |
15. RELATED PARTY TRANSACTIONS
During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in note 7.1
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