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2022-12-31-accounts

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

1

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

2

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

3

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.

4

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

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.

5

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.

6

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:

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

7

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:

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:

  1. which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:

  2. proper accounting records are kept (in accordance with section 41 of the Act); and

  3. accounts are prepared which agree with the accounting records and comply with the accounting requirements of Act; or

  4. 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

8

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

9

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

10

THE REDEEMED CHRISTIAN CHURCH OF GOD - CHRIST'S LOVE ASSEMBLY SWINDON

NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. ACCOUNTING POLICIES

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

11

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

** 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

12

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

13

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

14