**REGISTERED CHARITY NUMBER: 1189288** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **FOR** ## **THE REDEEMED WORSHIP CENTRE CIO** Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU **THE REDEEMED WORSHIP CENTRE CIO** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025** **----- Start of picture text -----**
Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15 to 16
**----- End of picture text -----**
**THE REDEEMED WORSHIP CENTRE CIO** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025** The trustees present their report with the financial statements of the charity for the year ended 30 September 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Church exists to promote and advance the Christian faith in accordance with its Basis of Faith, principally within Leicester and neighbouring communities, while also pursuing other charitable activities consistent with Christian principles. These activities include relieving poverty, hardship, and illness; promoting education; and providing facilities and opportunities that support social welfare and improve quality of life, especially for individuals facing challenges due to age, disability, financial circumstances, or social disadvantage. All activities are undertaken in accordance with the Church's doctrinal and ethical standards. As a multicultural church based in Leicester, we seek to serve the local community through a wide range of programmes for people of all ages, from infants to senior citizens. We continue to act as a collection centre for donations supporting the Open Hands charity. In addition, we host free community coffee mornings on the last Saturday of every month, offering refreshments such as cupcakes, scones, and soup. Throughout school half-term holidays, we also provide free holiday clubs for children aged 5-11 years. ## **Public benefit** The trustees have taken into account the Charity Commission's guidance regarding public benefit in planning and delivering the charity's activities. Page 1 **THE REDEEMED WORSHIP CENTRE CIO** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** 2025 has been a highly positive year for our charity, as we have started to see a stronger and more sustainable future taking shape. The acquisition of our property has given the organisation a permanent home for worship and a stable base from which to deliver its wider charitable activities. In addition, First Love UK now rents our auditorium every Sunday afternoon. The rental income generated from this arrangement is helping to offset our mortgage costs and providing valuable financial support for the continued operation and development of the charity. The Church remains dedicated to encouraging spiritual development and strengthening community involvement. We continue to hold three in-person services each week on Wednesdays, Saturdays, and Sundays, providing opportunities for worship, fellowship, and engagement for both members and visitors. Attendance and participation have continued to grow, contributing to an increase in church membership. Financially, the Church also experienced a steady increase in donations during the year, strengthening its overall position. The property requires ongoing maintenance to ensure it remains safe, functional, and welcoming. Some interior walls and perimeter fencing require repainting, and during the year a significant issue arose when the boiler failed again. Specialist engineers were engaged to complete repairs, restoring full heating functionality and improving temperature control throughout the building. The trustees remain committed to further improvements that will enhance the facilities available and support the needs of our expanding congregation. We didn't have a family fun day in 2025 due to a death of one of our church members round about that time, although it's something we would like to host every year. To further strengthen support to our members we introduced Connect groups which meets on the last Sunday of every month in different houses around the city. These 6 groups comprising of around 20 to 25 members spend an hour and a half socialising through food and different activities. ## **FINANCIAL REVIEW** ## **Financial position** The statement of financial activities shows total income for the year of £101,525 and the total expenditure of £110,429 leaving a deficit of £8,904 for the period. ## **Reserves policy** The trustees are responsible for reviewing and maintaining an appropriate reserves policy, considering the operational and administrative costs of the Church. Following a review, the trustees determined that unrestricted reserves should be maintained at a level sufficient to cover at least three months of committed expenditure. This approach helps ensure financial stability and continuity of the Church's activities. Reserves held at the year end amount to £185,015 (2024 - £193,919).The Trustees will continue to monitor the level of reserves to ensure that they remain both appropriate and adequate for the charity's needs. ## **FUTURE PLANS** The trustees do not currently anticipate any major new projects. Instead, emphasis will be placed on evaluating the long-term sustainability and effectiveness of existing programmes, including the annual Family Fun Day and "Around the World," a cultural celebration showcasing the diversity represented within the Church congregation. Page 2 **THE REDEEMED WORSHIP CENTRE CIO** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, which is based on the Charity Commission Foundation Model for a Charitable Incorporated Organisation. The charity governing constitution was adopted on 9 April 2020 and the charity was incorporated as a Charitable Incorporated Organisation (CIO) on 30 April 2020. ## **Recruitment and appointment of new trustees** Following the appointment of the founding trustees, any new trustee must be appointed through a formal resolution passed at a properly convened trustees' meeting. When considering appointments, trustees take into account the experience, skills, and knowledge required for the effective governance and administration of the Church. Except where otherwise provided, all trustees are expected to serve as elders within the Church, and no individual may be appointed as an elder without also becoming a trustee. The duties of elders are based on New Testament principles. The trustees may further define the responsibilities of elders through the Church Rules. These Rules may also provide circumstances where an individual may serve as an elder without being a trustee, or vice versa. Where elders and trustees are not identical groups, trustees retain ultimate authority and independent decision-making responsibility, although powers may be delegated where appropriate. ## **Organisational structure** The trustees are responsible for the overall direction, governance, and management of the charity and its operations. ## **Chief executive officer** The chief executive officer for The Redeemed Worship Centre is Peter Moyo. ## **Risk management** The trustees regularly assess and monitor potential risks facing the charity and ensure suitable controls and procedures are in place to minimise the risk of fraud, error, and other operational challenges. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1189288 ## **Principal address** The Redeemed Worship Centre The Lighthouse 45 Upper Tichborne Street Leicester LE2 1GL ## **Trustees** P Moyo T Ndlovu S Dube J C Ndlovu T Phiri P Sibanda Page 3 **THE REDEEMED WORSHIP CENTRE CIO** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Independent Examiner** Mr Phillip Bott Bsc(Hons) FCA Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU Approved by order of the board of trustees on 28 July 2026 and signed on its behalf by: P Moyo - Trustee Page 4 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE REDEEMED WORSHIP CENTRE CIO** ## **Independent examiner's report to the trustees of The Redeemed Worship Centre CIO** I report to the charity trustees on my examination of the accounts of The Redeemed Worship Centre CIO (the Trust) for the year ended 30 September 2025. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## **Use of our report** This report is made solely to the charity's members. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our work, for this report, or for the opinions we have formed. Mr Phillip Bott Bsc(Hons) FCA Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU 28 July 2026 Page 5 **THE REDEEMED WORSHIP CENTRE CIO** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**96,820**
Other trading activities
2
**4,705**
**Total**
**101,525**
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
**98,402**
Support costs
**8,883**
Governance costs
**3,144**
**Total**
**110,429**
**NET INCOME/(EXPENDITURE)**
**(8,904)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**193,919**
**TOTAL FUNDS CARRIED FORWARD**
**185,015**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2025**
**Total**
**funds**
**£**
**96,820**
**4,705**
**101,525**
**98,402**
**8,883**
**3,144**
**110,429**
**(8,904)**
**193,919**
**185,015**|2024
Total
funds
£
94,888
-
94,888
89,116
12,197
2,400
103,713
(8,825)
202,744
193,919| |---|---|---|---| The notes form part of these financial statements Page 6 **THE REDEEMED WORSHIP CENTRE CIO** ## **BALANCE SHEET 30 SEPTEMBER 2025** |Notes
**FIXED ASSETS**
Tangible assets
6
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
9
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**585,215**
**2,194**
**15,211**
**17,405**
**(9,179)**
**8,226**
**593,441**
**(408,426)**
**185,015**|Restricted
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2025**
**Total**
**funds**
**£**
**585,215**
**2,194**
**15,211**
**17,405**
**(9,179)**
**8,226**
**593,441**
**(408,426)**
**185,015**
**185,015**
**185,015**|2024
Total
funds
£
598,320
2,682
11,853
14,535
(7,007)
7,528
605,848
(411,929)
193,919
193,919
193,919| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 28 July 2026 and were signed on its behalf by: P Moyo - Trustee The notes form part of these financial statements Page 7 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Going concern** The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. ## **Income** Income is composed of varieties of donations, gift aid and contributions to restricted funds. All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% straight-line basis excluding land Fixtures and fittings - 20% on cost Computer equipment - 33% on cost ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 8 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Debtors** Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. ## **Creditors** Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. ## **2. OTHER TRADING ACTIVITIES** |Rental income
**3.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' salaries
Trustees' social security
Trustees' pensions paid|**2025**
**£**
**4,705**
**2025**
**£**
**12,000**
**175**
**173**
**12,348**|2024
£
-
2024
£
12,000
-
173
12,173| |---|---|---| ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024. continued... Page 9 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025** **----- Start of picture text -----**
4. STAFF COSTS
2025 2024
£ £
Wages and salaries 17,693 16,534
Social security costs 175 -
17,868 16,534
The average monthly number of employees during the year was as follows:
2025 2024
Average number of employees 2 2
No employees received emoluments in excess of £60,000.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 30 SEPTEMBER 2024
Unrestricted Restricted Total
fund fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 94,888 94,888
EXPENDITURE ON
Charitable activities
Charitable activities 89,116 - 89,116
-
Support costs 12,197 12,197
Governance costs 2,400 - 2,400
Total 103,713 - 103,713
-
NET INCOME/(EXPENDITURE) (8,825) (8,825)
RECONCILIATION OF FUNDS
-
Total funds brought forward 202,744 202,744
TOTAL FUNDS CARRIED FORWARD 193,919 - 193,919
**----- End of picture text -----**
continued... Page 10 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **6. TANGIBLE FIXED ASSETS** |**COST**
At 1 October 2024 and 30 September 2025
**DEPRECIATION**
At 1 October 2024
Charge for year
At 30 September 2025
**NET BOOK VALUE**
At 30 September 2025
At 30 September 2024|Freehold
property
£
**610,108**
**19,328**
**9,375**
**28,703**
**581,405**
590,780|Fixtures
and
fittings
£
**15,554**
**8,815**
**3,111**
**11,926**
**3,628**
6,739|Computer
equipment
£
**8,508**
**7,707**
**619**
**8,326**
**182**
801|Totals
£
**634,170**
**35,850**
**13,105**
**48,955**
**585,215**
598,320| |---|---|---|---|---| Included in cost or valuation of land and buildings is freehold land of £122,021 (2024 - £122,021) which is not depreciated. ## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other debtors
Prepayments|**2025**
**£**
**1,184**
**1,010**
**2,194**|2024
£
2,682
-
2,682| |---|---|---| continued... Page 11 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025** **----- Start of picture text -----**
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Bank loans and overdrafts (see note 10) 4,112 3,842
Taxation and social security 2,178 639
Other creditors 2,889 2,526
9,179 7,007
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£ £
Bank loans (see note 10) 408,426 411,929
10. LOANS
An analysis of the maturity of loans is given below:
2025 2024
£ £
Amounts falling due within one year on demand:
Bank loans 4,112 3,842
Amounts falling between one and two years:
Bank loans - 1-2 years 4,455 4,163
Amounts falling due between two and five years:
Bank loans - 2-5 years 15,726 14,693
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years by instalments 388,245 393,073
**----- End of picture text -----**
continued... Page 12 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **11. SECURED DEBTS** The following secured debts are included within creditors: |Bank loan
The bank loan is secured on the property to which it relates.
**12.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.10.24
£
**193,919**
**193,919**
Incoming
resources
£
**101,525**
**101,525**
At
1.10.23
£
202,744
202,744|**2025**
2024
**£**
£
**412,538**
415,771
Net
movement
At
in funds
30.9.25
£
£
**(8,904)**
**185,015**
**(8,904)**
**185,015**
Resources
Movement
expended
in funds
£
£
**(110,429)**
**(8,904)**
**(110,429)**
**(8,904)**
Net
movement
At
in funds
30.9.24
£
£
(8,825)
193,919
(8,825)
193,919| |---|---|---| continued... Page 13 **THE REDEEMED WORSHIP CENTRE CIO** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
94,888
94,888|Resources
Movement
expended
in funds
£
£
(103,713)
(8,825)
(103,713)
(8,825)| |---|---|---| The restricted building fund is for the purchase of the church property. ## **13. RELATED PARTY DISCLOSURES** During the year, Trustees made personal donations to the charity amounting to £22,959 (2024: £10,832). No benefits were received as a result of their donations. Page 14 **THE REDEEMED WORSHIP CENTRE CIO** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations tithe
Donations
Gift aid
Building
**Other trading activities**
Rental income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Wages
Insurance
Light and heat
Postage and stationery
Advertising
Ministry costs
Services
Small equipment
Consumables
Rent
Computer consumables
Gifts
Bereavement
Youth activities
Repairs
Depreciation of tangible fixed assets
Profit on sale of tangible fixed assets|2025
£
**59,235**
**21,165**
**16,375**
**45**
**96,820**
**4,705**
**101,525**
**12,000**
**175**
**173**
**5,693**
**813**
**7,983**
**294**
**885**
**4,113**
**1,938**
**264**
**6,898**
**7,848**
**3,758**
**1,411**
**621**
**410**
**4,592**
**13,105**
**-**
**72,974**|2024
£
58,663
19,707
15,993
525
94,888
-
94,888
12,000
-
173
4,534
1,489
11,300
897
214
1,558
2,040
451
5,810
540
3,072
-
1,156
163
8,742
13,280
(600)
66,819| |---|---|---| This page does not form part of the statutory financial statements Page 15 **THE REDEEMED WORSHIP CENTRE CIO** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2025** |**Support costs**
**Finance**
Bank interest
**Governance costs**
Independent exam fees
Accountancy and legal fees
Total resources expended
**Net expenditure**|2025
£
**33,345**
**2,760**
**1,350**
**4,110**
**110,429**
**(8,904)**|2024
£
33,626
2,400
868
3,268
103,713
(8,825)| |---|---|---| This page does not form part of the statutory financial statements Page 16