Charfty Registralion No. 1185147 Company Reglslrallon 12138281 REDEEMED CHRISTIAN CHURCH OF GOD C'RCCG THE CHAPEL OF COURAGE Report & Hnanclal Statement lor FOR THE YEAR ENDED 31 AUGUST 2024
THE REDEEMED CHRisllAN CHURCH OF GOD fRCCG? THE CHAPEL OF COURAGE FOR 7HE YEAR ENDED 31 AUGUST2024 REPORT AND HNANCIAL STATEMENTS NTENT REPORT OF THE bOARD & STA7EMENT OF BOAItD'S RESPONSI8UTIES INDEPENDEPn EXAMINERS REPORT STATEMeNT OF FINANCIAL Ac7ivmES BALANCE SfrIEEr NOTES TO THE FINANCIAL STATEMENT 13
REDEEMED CHIISIIAN CHURCH OF GOD TME CHAPa OF COURAGE GV4EIAL INFORMATION BOARD MEMBERS, OFRCERS. ADVISERS A14D OANK Postof E A Adeboye New Chtsity Corrrrion Regslfati Chotity NEJmb8r.' 1185147 CcKrwiy Regislralion NLKnber. 12138281 D¢ns h4oke Ao Mr Rosheed Abayoryy hmurh*c Pastot Jtsr Olodirr£ii MT aLwoseun Okjshonu Senlor Pa5b)r P051or Olojide Joseph Omolayo Reglslwed Address RCCG The Cpe1 of CoJroge 164 n9Jon Avenue Harold Hil Romfud RM3 8JT Banke Uoyd5 Bonk Hc Station P<xade IGI 1 8ED
THe IÉDEEMED CHRisllAN CHURCH OF GOD fRCCGJHE CHAPEL OF COUIAGE THE YEAR ENDED 31 AUGUST 2024 Report of the Tnjslees The trustees present the arinuol report and finonciol statement of The Redeemed Christian Church ol God IRCCGI ttie Chapel of Courage lor Ihe year ended 31 August 2024 Oblecllves The principal activities of th charity the odvancement of the Christian foith in the United Kingdom ond the relief of poverty. especially those wthin the orea of operotion. STIUCTURE GOVERNANCE AND MANAGEMENT The Redeemed Christion Church of God IRCCGI the Chapel of Couroge regiered chority Inumb 11851471 and Company Limited by guarontee1121382811 ond il is govemed by its Article ol A5$0ciotion. Organlsallon and Stwctwe The monogemenf of this Chorify is the resF)on%bilty of the Board of Trvstee5. Who have been c(Fopted f(x their ski115 and experience and are requwed to attend induclion ond troining in order to keep vp lo dote. The dey to doy running of the Ch{ty is the responsibility of the Senior Postor. He is assisted by a Council ol ministers. whom he delegate5 responsibli ities to regulorfy. They discuss regularty, to review Ihe oclivities of the chLFrch ond lo moke deci%ons on cruciol mottw5. Svmmory of the year under fevlew. In the year under revitiw. oll Ihe actiwes of Ihe Chwch were corried out phclY on Svndoy5 ot the Ghsea Park Method151 chch, 398 entwOOd Rood. RM2 6DH In March 2tr23 Ihi5 year, RCCG rhe Chopel of CoLKoge celeiyoted her X)Ih anneryWItti a three d¢Jy5 celebration. which conclvded wth o Sundoy Thanksgiving Church service at Gidea Park In May 2023 the church joined the enlire counlry in celebrating the knngs coronotion in the local communi of Gidea Potk. In addition to the treehold chwch bLilding at Wdverhamlon, the Church in September 2022 completed the purchase ol Ball Green Method* Church. Wilding Rood, Stoke on Trent ST6 8BQ. these two church properties afe being used by our 515ter pari5h.' The Redeemed Christian Church ol God The Soughlout A%sembly. on incorporated chority in England ond is betng used solely for charitable purposes.
THE REDEEMED CHRISTIAN CHURCH OF GOD fRCCG?THE CHAPEL OF COURAGE THE YEAR ENDED 31 AUGUST2024 Report of the Trvslee$ Flnanclal revlew The Charivs finonciol stotemenl for Ihe yeor ended 31 AvgL$5t 2024 shows a net Increose in fvnds of £12.13912023: £13.262 decreosel-. Total unrestrbcted fund i% £17408312023.. £162.7441 Related paty relali¢)nsl RCCG the Chapel ol Courage is a membef of the Redeemed Christian Church ol God wortthide. agreed under'lhe agreement of common purposes. withlhe RCCG UK. R15k management The trustees hove assessed the major risks to which Ihe chty is expjsed to, in particular Ihose relating lo Ihe operation5 ond finances of the chority and ore sotisfied Ihot Systems are in ploce to mitigate eyposure ta any major risks. In order Io sofeguord Ihe welfare of Chldren and young people Ihe Church operotes o Child protection policy. Al Childrenlyouth wothets are careftjlly screened arid have an enhanced Disclosure and 8orring Service IDBSI check. Reserve P¢ky RCCG the Chopel of Couroge ense5 that o reseNe *0 cover Ihe fLxed operotlonal costs are maintained at oll time5, to protect unfcM5een contigencies. Granl Maklng Polcy RCCG the Chopel of CoLffOge rnake conlibutions to the RCCG WEM, RCCG Centro71 offfce. Festival ol life in fvifilment of it's obligations. The Ch<Jity olso make donotions to other Chorities in the UK from thme lo time.
THE REDEEMED CHRISIIAN CHURCH OF GOD fRCCGI THE CHAPa OF COUIAGE THE YEAR ENDED 31 AUGUST2024 Report ol the Trustees (ContFnued) Volvrdews We are very grtsteful to oll Ihe volvnteer5 for Ihew commitm1 and supFx¥l tlYoughttyJtlhe tt)e year. Moy the Lud continue lo ble55 ond vpfvjd owViVnleer5 fcy Ihe¥ labow ofloye. Publlc Benefft In establishSrvJ the progrommes and acVe$ ol RCCG Ihe Chopet ol Cotffoge. the Iwslees con&der its benefit to the gen01 pvwic vthn the communityond in kne with ifs charity objects of advancing christ faith United KirydC ond the reSef of poverfy. The tru5tee5 ensure Ihot Ihe Chortky Commwons gL•ideknes on pU1C benefft (ze followed in oll Iheir operotions. rAonning and decNon making. Law appliC(se to charilie5 In Enyand ond Woleg requres Ihe knjstees to ryepore fmncol statements for eoch year wtuch gives o Ie ond law VEW of the stcte ofoffars of the chartty and of the chority ond ol Ihe sijrplus u deficit of the chth lor that wod. In prerxsrino Ih05e finonci(S stalefflents thè tnJstè•s hov•: • Selecled 5UStable accounting pdicies ond OPKthd Ihem cony5tenMy, ' hlode judgements and estimoles Ihat cKe rea$able ond rxudenf.. ' stote whelher oppScoble occovnling Stondor¢ hove t)een folowed. subject lo any maleriol depar1v5 Of¢10$eLl and ey¥A¢ined in tt)e firnnool stotements.. ond ' PFewred the fin01(4 aements on o going concwn b(395 lun$ it 15 rK]pprow(rte lo presume thol Ihe TfU51 ¥vill continve in operollonl. ' The trustees hcsve oveToII [Ponslty fty Ihol the cr[Y hos (m Op(li0e sssem of contrrt. finonciol and otFwwise. Trey cffe obo rete Fly keer%ng ryoper accounting recd$ wh¢h disclose wilh reosonable occurocy at any lime the financial po%tion ol the chority ond enoble them to erfjure 1hat the fancial 5taternents com wilh the Chorities Act Xll l. They rye okn respon@ fcx so18guording the assets ol the chority and hence futabng reosonoue Steps forlhe detection and prevention of troud ond olher irre9ubrities. Thi5 repi)rtwos opproved by the board ol Injstees on Ihe ......... . ij .. 2)24 ns Omdude Bose Sorwsl Fw. The 8otsrd ol Twsle
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THE REDEEMED CHRISTIAN CHURCH OF GOD fRCCGJ THE CHAPEL OF COURAGE STATEMENT OF FINANCIAL ACTIVMES For th• Y•ar ended 37 August 2024 Umestiicled Fund 2024 Unreslricted Fund 2023 Notes Incom• from donollon ond l•gocles: Donations 103.864 85.494 Income from charftable aelfvllles: Rent ond focility hire ).147 13,581 Total Income 144,011 99.075 EXPENDITURE Ch¢wttobl• expèndllurè: Grants ond donation Costs ol activities tor Chitable objective Support costs Management and odministration 22,783 9,392 61.273 38,424 9,466 12.071 59,437 31,363 Total Expendllure 131,872 112,337 Net incomellexpenditurel 12.139 113.2621 Opening balance 162.744 I76,6 Fund bolance at 31 August 174,883 162,744
REDEEMED CHRisnAN CHURCH OF GOD fRCCG'? THE CHAPEL OF COURAGE BALANCE SHEET AS AT31 AUGUST 2024 2023 Flxed assets Tangible rued assets 381,253 397.657 Currenl assets Debtor Cash at bank 40.307 40.847 81.154 14.776 51,636 66.412 Credllors: amount fawng due wllhln one ye 10 76,923 66.771 Nel current ae*S 4.231 13591 Total assets less cuThent Iloblllles 397.298 Cre(knr$: amount lalung du• aller m(Ye lIK one ye 210,601 234.554 174.883 162.744 Income Fvnds Unreslricted Fund5- General Funds 12 174.883 162,744
REDEEMED CHRISTIAN CHURCH OF GOD fRCCGI THE CHAPEI OF COURAGE BALANCE SHEET (CONTINUED) AS AT31 AUGusf2024 In preporing tt)is financial stotemenf. I l The directors are of the opinion that company is entilled to exemption from audit under section 477121 of the Companie5 Act 2(X16 relating to small componie5. 21 No notice has been deposiled under section 476 of the Companies Act 2CM)6 ond 31 The directors acknOedge their responsibilities for.. . Ensuring that the compony keep accounting records vthich comply Mlh section 386 of the Componies Act and . Preporing occounts which give true ond fow view of the stole of offoirs of the company a5 at the end of Ihe financial year and of tt's surplus ar)d deficit in accordance wth the requirements of section 396, ond which olhewse comp with the requffements of Ihis Act relating lo accounts, 50 far as opplicoije to the ompony. Tris fmanciol statement hove been prepored in occordonce wtti the provisions opplicoble to componies 5E3biect to the 5moll componies regime. Approved on behall of Ihe board oflrvstees on Ihe Dcn5 Oluyemisi A. Omoloyo Tffustee Dcn5 Omolode B. Sanu
%EtsEEAIED CHRisllAN CHUICH OFGOD IYCV)THEaiAp& OFCOUIAGE FOR IHE YEAR lD 31 AUGIIS12024 l. Accouhffirwj poky The Pri1p0S cctsJntiThJ wJioe5. dl ofwfich Ip2V8 been opttsl Corttohrt the year. (Te 5ettrJt belovr. Thtr )ntial 51oternents been Fyewed Und¢ rCal costconvention in occorctarlce wtlh opDfC0Le occixitTrling 5t£d%0r TrE51iJlemenl of Recommtsnd Proctice.. £countw ond Rer)crftiro by Cttrritie51SORP iswed in Mcych XX)5. Ib} r•¢¢wnkni GenÈrol lund5 ore urweslricted lurKls wlyc lye ovcaolye foruse ok the distrelionof the ItLP5tees in lutlher(Ye ol ts general ot¥eCVe5 01 arj whch hove rK)t been de>grKJted ICY Icl lttcon Tes¢>w¢es Income is recogThsed in ts p(1 Cknty h05 enltlletnenl 10 recepts ond the amolinl caTI b meo$Ld I1h rea1Clo1nty. Thwelor& filt5. OMaing& Dcwli¢)rLS 4JKJ M[on9 res<)uce5ap IrL84 in Ihe very in which Ilw(e iec•v8d. Idl RESOWCeS ewded colege5 thol awegtsre costs Icallc>colion lo ocffvitie5. costs corwt oe (kncfy ottbuled lo lCUlo¢11¥illeS l+w FKNebeen c)coted on o tKXS consistentwth Ihe use of The cFKEStyi5 Ml re9slwed forVAI antl gi)550f NrecovatrA& VAI. (•} Cash lkn¥ Thts fin(sn¢iol slalements (Jo not inchJd8 o c05h l10wslatementbeeL Iheclvch. 0$ c SITll rÈwrhng entity. is exempt from the retyHremenl lo 510lemenF(h)J1he firKrri eing storOrd l¢ySmrJler Enhie5 le118etive Juie 3))2). (l) TunglLl• fiyed (bmels de1]rn Sets cosliw more Ihts) £dW rye cgtxldi5ed. TangtAe fiKed 05setsue stoted atC051aFxI dweootrj a Ski11 txzisov1tMuSeflA ewnoTnic livas foHcths: Fteehdd 8LMldin ChJrcb EWipt Fixlwe5 & lti •) O•l•n•d kncorn• Where urtonLliol tr1erTl ID irtomer8CWVOtJe is depxIent0n ftthment of ¢ondiftor6witrin Ibe ChlS contrd. Ihe irtome ts recogrise(I wlEn there is wfficienl evidence knal conditions te met.Where Ihere ts uncerttynly os Io %tslher Ihe con wch ccrylltiL¥s Ihe cbglwred.
REDEEMED CHItISIIAN CNURCM OF GOD fRCCGJ IHE CHAPEL OF COURAGE IK)TES TO IHE HNANCIAL STATEMENTS (Contd) For Ihe ye<Y endvd 31 AvgvJ12024 Unrestricted Fund Fvnd )23 2 Income from dontilion 4md l•gaci•s rithe & Offerrg Gift Aid other Incomes 82.591 20.752 521 103.864 72.1 12.942 251 85,494 3 IoM Irom chaltable actrAlle& Rent and facli ity 40.147 13,581 40.147 13.581 4 Grants and DonaHons RCCG- Worfd Evongelical Mi$5K)n RCCG- Centrol Office Fund Other Grants & DOn0tn$ 17.631 550 7.116 670 9,466 22.783 S Cost d AthINe$ l¢r Ch<rfdM• ObJéclfv• Wellor8/h(Tdship Gtant Ovtreoch. Conferences & Events 8.192 12.071 9.392 12.071 6. Svpport Cost Rent & Rate Stationery. Printing. Books& Joumds Telephone. Inlemet & IT C05ts Tron$pOI10n & Logistics Costs Insuronce Premise5 Expenses Bonk Interest & Charges Repoirs. Renewals & Maintenance cost Depreciation Svncty Expenses 14.076 1573 1.592 7.354 333 14,472 490 3.826 2.439 320 21.321 2238 17.170 $26 61.273 18.201 3.940 17.396 353 59,437 10
THE REDEEMED CHRISTIAN CHUICH OF GOD fRCCGJTHE CHAPEL OF COURAGE NOTES TO THE FINANCIAL STATEMENTS (Contd) F<Jr th• Y• •nd•d 31 Augu 2024 2(J23 7. Management and Admini51ralion Accounloncy & Poyroll fees Stoff/Volunteer Cosls Legal, Consultancy & Profe55ionol fees Troining & Semirnr cost 1.955 1.890 28.(XX) 1,473 3.407 3.068 31.363 8. Tonglble ffxed <usets Freehold Church operfles Equlprnent Flxtures & Fllllngs Tolol Cosl At 01109123 Addittons Disposd AI 31108124 414,470 39.852 766 460.523 766 414A70 40.618 6.201 461.289 A¢cvmulated Depreclallon At 01109/23 Depreciakn"on for Ihe year Disposal At 31108124 35.114 13.037 21.551 4.133 6.201 62,866 17,170 48.151 25. 4201 Net Book value At 31108124 366.319 14.934 381,253 At 31108123 379.356 18,301 397,657 11
REDEEMED CH%isnAN CHUIECH OF GOD fRCCG'J THE CHAPEL OF COURAGE NOTES TO THE FINANCIAL STATEMENTS (cont[nLd) Por Ihe y•or •nd•d 31 August 2024 2024 2023 9. Debtors Accrued Incom& Gtft AÉd other Debtors 17.682 22,625 12.051 2.725 40,307 14.776 10. Credllors: amount falllng due wlthln one year Bank Loan Deferred Income Accwals other Creditors 20.326 10.238 54586 1.890 55 T.955 56 76,923 66,769 I l. Credllors: amount fallng due after one year Bank Loan 210,601 234.554 210.601 234.554 12. Movement In fvnds Opening bdance 162,744 176.006 5urplu5 for the year Balance as al 31 Avgu512024 12.139 113,2621 174.883 162.744 12
REDEEMED CHRISTIAN CHURCH OF GOD fRCCGJ THE CHAPEI OF COURAGE NOTES TO THE FINANCIAL STATEMENTS (Conllnued) For the yecw end•d 37 Avgu3t 2024 lJ. T¢Jxatlon RCCG The Chapel of Courage is now an incorporated charity and is elig- ible to the exemptions from taxalion ovoiloble to chorities on their charit- oble activities. No charge to taxation therefore arises. 14. Tluslee remvnerallon and related party htsmall¢ No trustee has received any remunerotion or reimbursement of expenses In connection with work cotyied out in performance of hislher dulles. 2024 2023 Salary pokl lo Telaled party. Postor Olajide Joseph Omotayo 28.000 13