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2023-12-31-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 2023

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 – 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Statement of Financial Position 11
Note to the Financial Statements 12 - 15

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 2023

Trustees: Dr Oluwatosin Lagoke Mrs Linda Seshie Mrs Rachael Orororo Charity Registration Number: 1183496 Principal Office: 9 Stoneywell, Tadpole Garden Villages Swindon, SN25 2RR Pastor in Charge: Pastor 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 2023

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 dedicate to 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 2023

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

1. FEEDING OF THE HOMELESS IN SWINDON TOWN CENTRE : we partnered with Swindon Caring Hearts (SCH) charity to provide home cooked hot meals for the homeless once a month. We also support with serving the meals on the day.

2. ROSE COTTAGE NURSING HOME: We had monthly hymn and prayer sessions with the residents of Rose Cottage Nursing home, Haydon Wick Swindon on the first Wednesday of every month.

3. HAYDON WICK COUNCIL ANNUAL COMMUNITY EVENT: We actively collaborate with the Haydon Wick Parish Council and participate in their annual parish meetings and summer events. These engagements have given us the opportunities to showcase our impact in the community through music, connect with fellow charities and organisations, to foster meaningful relationships.

4. JOB AND CAREER EMPOWERMENT WEBINAR: We have organised series of webinars focus on impacting knowledge and skills needed to improve employability and career advancement. The webinar was well attended by both church members and non-members with a lot of positive feedback from attendees.

5. CHRISTMAS OUTREACH PROJECT: We continued to make donation of Christmas goody bags to residents of Rose Cottage nursing home and met each resident to show them some love and prayed with all the residents at the end of the session.

5

We also gave out Christmas goody bags to the homeless in Swindon town centre: This was done with the support of members of the church choir who joined us in singing Christmas carols, providing a memorable holiday experience for those receiving the gifts. The event was joyous and well-received by all attendees, spreading warmth and festive cheer.

6. Over 70s Annual Christmas Parcel Scheme: We supported the council with this scheme and we provided parcels containing grocery items to residents who are above 70 and live alone. We donated some grocery items and joined other volunteers and staff of the council to pack these items and distribute to the homes of the recipients.

6

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

TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023

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 gift aid 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. In addition, we are actively looking to acquire a permanent place of worship that we could use to expand our community outreach to include creating ‘Welcome/Safe Spaces’ for young adults to connect, lunch and learn new skills, access internet to study or browse safely. Start a food bank, toddler group and mom get-together; summer activities for young children and parents; and host series of career empowerment programmes.

7

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

TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023

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: Dr. Oluwatosin Lagoke

Position: Chairman, Board of Trustees

Signature:

Date: 30[th] September 2024

8

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

INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 DECEMBER 2023

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 2023 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 September 2024

9

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY SWINDON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
INCOMING RESOURCES
Donations and Legacies
2
Gift Aid
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Cost of activities in furtherance of charity's objects
4
Grants Payable - Institutional
5
Management and Governance Cost
6
TOTAL RESOURCES EXPENDED
Fixed Asset Write-Off
Net Incoming/(outgoing) resources for the year
Other Income
7
NET OTHER INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted Funds
2023
Total Funds
2023
Total Funds
2022
£
£
£
61,604.49
61,604.49
51,756.03
7,203.27
7,203.27
9,513.72
68,807.76 68,807.76 61,269.75
39,149.28 39,149.28 25,646.44
14,942.98 14,942.98 13,680.76
422.40 422.40 314.40
54,514.66 54,514.66 39,641.60
- (320.63)
14,293.10 14,293.10 21,307.52
194.73 194.73 142.73
194.73 194.73 142.73
64,386.14 64,386.14 42,935.89
14,487.83 14,487.83 21,450.25
78,873.97 78,873.97 64,386.14

The charity's incoming resources and resources expended all relate to continuing activities

10

THE REDEEMED CHRISTIAN CHURCH OF GOD CHRIST'S LOVE ASSEMBLY SWINDON STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2023
2022
2022
Notes
£
£
£
£
FIXED ASSETS
Intangible Asset
8
-

46.77
Tangible Fixed Assets
9
21,698.30

5,986.48
21,698.30

6,033.25
CURRENT ASSETS
Cash at bank and in hand
10
53,001.32
58,476.96
Prepaid Expenditures
11
2,440.34
83.93
Loan to Members
12
1,734.01
-
57,175.67
58,560.89
CREDITORS: amounts
falling due within one year
13
-
208.00
NET CURRENT ASSETS
57,175.67
58,352.89
TOTAL ASSETS LESS
CURRENT LIABILITIES
78,873.97
64,386.14
CHARITY FUNDS
Restricted Funds
-
-
Unrestricted Funds
14
78,873.97
64,386.14
TOTAL FUNDS
78,873.97
64,386.14		 2023
2023
2022
2022
Notes
£
£
£
£
FIXED ASSETS
Intangible Asset
8
-

46.77
Tangible Fixed Assets
9
21,698.30

5,986.48
21,698.30

6,033.25
CURRENT ASSETS
Cash at bank and in hand
10
53,001.32
58,476.96
Prepaid Expenditures
11
2,440.34
83.93
Loan to Members
12
1,734.01
-
57,175.67
58,560.89
CREDITORS: amounts
falling due within one year
13
-
208.00
NET CURRENT ASSETS
57,175.67
58,352.89
TOTAL ASSETS LESS
CURRENT LIABILITIES
78,873.97
64,386.14
CHARITY FUNDS
Restricted Funds
-
-
Unrestricted Funds
14
78,873.97
64,386.14
TOTAL FUNDS
78,873.97
64,386.14		 2023
2023
2022
2022
Notes
£
£
£
£
FIXED ASSETS
Intangible Asset
8
-

46.77
Tangible Fixed Assets
9
21,698.30

5,986.48
21,698.30

6,033.25
CURRENT ASSETS
Cash at bank and in hand
10
53,001.32
58,476.96
Prepaid Expenditures
11
2,440.34
83.93
Loan to Members
12
1,734.01
-
57,175.67
58,560.89
CREDITORS: amounts
falling due within one year
13
-
208.00
NET CURRENT ASSETS
57,175.67
58,352.89
TOTAL ASSETS LESS
CURRENT LIABILITIES
78,873.97
64,386.14
CHARITY FUNDS
Restricted Funds
-
-
Unrestricted Funds
14
78,873.97
64,386.14
TOTAL FUNDS
78,873.97
64,386.14
64,386.14
-
64,386.14
78,873.97 64,386.14

The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting.

Approved by the Trustees on

Signed on their behalf by:

Dr. Oluwatosin Lagoke Chairman, Board of Trustees

11

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

NOTES TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Collection at all services, Tithes,
Pledges, and offerings from
members of the Church
Gift Aid
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
3. GIFT AID CLAIM ON DONATIONS		 Unrestricted Funds
Total Funds
Total Funds
2023
2023
2022
£
£
£
61,604.49
61,604.49
51,756.03
61,604.49
61,604.49
51,756.03
Unrestricted Funds
Total Funds
Total Funds
2023
2023
2022
£
£
£
7,203.27 7,203.27 9,513.72

12

4. COST OF ACTIVITIES IN
FURTHERANCE OF CHARITY OBJECTS
Guest Speakers' Honorarium
Amortisation
Community Outreach
Depreciation
Dues and Subscriptions
Hall Hire, Rent & Rates
IT Consumables
Member Support
Office/General Administrative Expenses
Publicity
Repairs and Maintenance
Seminars & Conferences
Staff Cost
Sunday School Costs
Utilities
Vehicle Expenses
Travel and Accomodation
Welfare & Hospitality
Discount/Refunds
Other Givings
7. OTHER INCOME
Savings Interest
5. GRANTS PAYABLE - INSTITUTIONAL
5.1 LIST OF INSTITUTIONS GRANTS PAYABLE
RCCG - Central Office Contributions
RCCG - Provincial Contributions
RCCG – WEM Contributions
6. MANAGEMENT AND GOVERNANCE COST
Other Professional Services – Intuit		 £
£
£
1,560.00
1,560.00
849.19
46.77
46.77
66.33
3,185.19
3,185.19
5,029.19
3,251.29
3,251.29
1,216.29
48.00
48.00
178.88
7,408.45
7,408.45
5,803.08
1,856.09
1,856.09
1,637.66
6,633.27
6,633.27
-
596.85
596.85
249.87
380.18
380.18
747.67
400.00
400.00
60.00
150.00
150.00
50.00
873.60
873.60
457.60
811.81
811.81
621.18
251.33
251.33
-
112.95
112.95
-
-
-
200.64
11,583.50
11,583.50
8,478.86
39,149.28
39,149.28
25,646.44
£
£
£
14,942.98
14,942.98
13,680.76
14,942.98
14,942.98
13,680.76
£
£
£
600.00
600.00
600.00
1,200.00
1,200.00
700.00
13,142.98
13,142.98
12,380.76
14,942.98
14,942.98
13,680.76
£
£
£
422.40
422.40
314.40
422.40
422.40
314.40
£
£
£
194.73
194.73
12.73
100.00
30.00
194.73
194.73
142.73

13

NOTES TO THE ACCOUNTS

8. INTANGIBLE ASSET

Anti - Virus
Total 2023
Total 2022
£
£
£
Cost
199.00
199.00
199.00
0.00
0.00
0.00
199.00
199.00
199.00
152.23
152.23
85.90
46.77
46.77
66.33
199.00
199.00
152.23
0.00
0.00
46.77
Musical Equipment
Computer &
Projectors
Puppets &
Staging
Equipment
Furnitures &
Fixtures Motor Vehicle
Total 2023
Total 2022
£
£
£
£
£
£
£
Cost
At 1 January 2023
3,635.88
1,929.25
185.15
236.21
-
5,986.49
3,511.89
Additions
5,610.00
807.00
-
3,096.00
9,450.00
18,963.00
4,011.51
Prior Year Adjustment
-
-
-
-
-
-
-
Disposal
-
-
-
-
-
-
(320.63)
At 31st December 2023
9,245.88
2,736.25
185.15
3,332.21
9,450.00
24,949.49
7,202.77
Accumulated Depreciation
At 1 January 2023
4,220.64
1,549.30
263.04
33.74
-
6,066.72
4,850.45
Charge for the year
1,842.11
668.25
46.29
497.76
196.88
3,251.28
1,216.28
At 31st December 2023
6,062.75
2,217.55
309.33
531.50
196.88
9,318.00
6,066.73
Net Book Value
At 31st December 2023
7,403.77
2,068.00
138.86
2,834.45
9,253.13
21,698.21
5,986.48
2023
2022
£
£
53,001.32
58,476.96
53,001.32
58,476.96
2023
2022
£
£
83.93 83.93
Hall Hire
2,356.41
2,440.34 83.93
2023
2022
£
£
1,726.51
0.00
0.00
0.00
1,726.51
0.00
12. LOANS TO MEMBERS
Loans to Members
Zoom Subscription
11. PREPAID EXPENSES
Cash in Bank & in hand at year end
10. CASH BALANCES
9. TANGIBLE FIXED ASSETS
Net Book Value
At 31 December 2023
Charge for the year
At 31 December 2023
Amortisation
At 1 January 2023
Additions
At 31 December 2023
At 1 January 2023		 Anti - Virus
Total 2023
Total 2022
£
£
£
Cost
199.00
199.00
199.00
0.00
0.00
0.00
199.00
199.00
199.00
152.23
152.23
85.90
46.77
46.77
66.33
199.00
199.00
152.23
0.00
0.00
46.77
Musical Equipment
Computer &
Projectors
Puppets &
Staging
Equipment
Furnitures &
Fixtures Motor Vehicle
Total 2023
Total 2022
£
£
£
£
£
£
£
Cost
At 1 January 2023
3,635.88
1,929.25
185.15
236.21
-
5,986.49
3,511.89
Additions
5,610.00
807.00
-
3,096.00
9,450.00
18,963.00
4,011.51
Prior Year Adjustment
-
-
-
-
-
-
-
Disposal
-
-
-
-
-
-
(320.63)
At 31st December 2023
9,245.88
2,736.25
185.15
3,332.21
9,450.00
24,949.49
7,202.77
Accumulated Depreciation
At 1 January 2023
4,220.64
1,549.30
263.04
33.74
-
6,066.72
4,850.45
Charge for the year
1,842.11
668.25
46.29
497.76
196.88
3,251.28
1,216.28
At 31st December 2023
6,062.75
2,217.55
309.33
531.50
196.88
9,318.00
6,066.73
Net Book Value
At 31st December 2023
7,403.77
2,068.00
138.86
2,834.45
9,253.13
21,698.21
5,986.48
2023
2022
£
£
53,001.32
58,476.96
53,001.32
58,476.96
2023
2022
£
£
83.93 83.93
Hall Hire
2,356.41
2,440.34 83.93
2023
2022
£
£
1,726.51
0.00
0.00
0.00
1,726.51
0.00
12. LOANS TO MEMBERS
Loans to Members
Zoom Subscription
11. PREPAID EXPENSES
Cash in Bank & in hand at year end
10. CASH BALANCES
9. TANGIBLE FIXED ASSETS
Net Book Value
At 31 December 2023
Charge for the year
At 31 December 2023
Amortisation
At 1 January 2023
Additions
At 31 December 2023
At 1 January 2023		 Anti - Virus
Total 2023
Total 2022
£
£
£
199.00
199.00
199.00
0.00
0.00
0.00		 Anti - Virus
Total 2023
Total 2022
£
£
£
199.00
199.00
199.00
0.00
0.00
0.00
199.00
199.00
199.00
152.23
152.23
85.90
46.77
46.77
66.33
199.00
199.00
152.23
0.00
0.00
46.77
9,245.88
2,736.25
185.15
3,332.21
9,450.00		 24,949.49
7,202.77
4,220.64
1,549.30
263.04
33.74
-
1,842.11
668.25
46.29
497.76
196.88		 6,066.72
4,850.45
3,251.28
1,216.28
6,062.75
2,217.55
309.33
531.50
196.88		 9,318.00
6,066.73
7,403.77
2,068.00
138.86
2,834.45
9,253.13		 21,698.21
5,986.48
2023
2022
£
£
53,001.32
58,476.96
53,001.32
58,476.96
2023
2022
£
£
83.93 83.93
2,356.41
2,440.34 83.93
2023
2022
£
£
1,726.51
0.00
0.00
0.00
1,726.51
0.00

14

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |WITHIN ONE YEAR| |£|£| |Staff Cost|0.00|208.00| |0.00|208.00| |Unrestricted| |Total Funds|Total Funds| |14. FUNDS|Funds| |2023|2023|2022| |£|£|£| |At 1 January 2023|64,386.14 64,386.14 42,935.89| |Surplus/(Deficit) for the year|14,487.83 14,487.83 21,450.25| |At 31 December 2023|78,873.97 78,873.97 64,386.14|

----- End of picture text -----

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 5.1

WEM stands for World Evangelical Mission of the RCCG Churches, and these contributions goes towards propagating the Kingdom of God to all nations of the earth. It covers costs for supporting missionaries, providing basic necessasities and medical aids to improverished and war torn areas that our ministries reach.

15