The Redeemed Christian Church of God- City of Joy Charity No. 1191111 Tru5tee5' Report and Unaudlted Accounts 31 PAarch 2024 The Redeemed Chrfstiaft Church of God. City of Joy Trustees. Annual Report Independent Exarninerf5 Report Statement of Financial Activities 2to3 Summary Income and Expenditure Account Balance Sheet Notes to the Accounts Detailed State￿￿nt of Financial Activities 9tol2 Pa8e I The Redeemed Christian Churrh of God. City of Joy Trustees Annual Report REFERENCE AND ADMINISTrATIVE DETAIiS Char5ty No. 1191111 ReBlster¢d Officè 35 Dennls Close REDHILL RH12AX Trustees The followin8 and Trustees served durTrn8 the year: Adetokunbo Oluwatobl Josephine Ekanem Pamela Diete-spiff countsnts 360 Accountin8 Servlces Ltd 27 Old Gloutester Street London WCIN 3AX B•nk¢rs Barclay5 Bank I Churchill Place, London E14 5HP. OWEcnvES AND ACtMnE5 To Advan￿ the Lhristian Religion for the publ￿ Benefft, In attordance with the Tenets of Farth. thJncin8 the Christlan Reli8ion by Providing premises where members of the publK can learn abcmjt Rel￿10n. All persons a￿ welcome not matter what Race oi Relvdion Advancing the Christian Rel￿10n by PrO¥￿Ing premises where members of the public can Learn Jl)out Reli8ion. All persons are welcome not matter what Race or RelÈlon. FIt4ANCIAL REVIEW The largest contritrMJtion to the charbty in the year Came from 8eneral offering5. PLANS FOR FUTURE PERIODS Page 2 The 114>do•m È1J i-hi'lsti,Ifi ChU1.￿J Of God- l.'Iti of Jo TnJ'.>tEihS kni iiwl Ri':'PO,- Th<. *1)a17tii )lai- s ti) Jiivolop liari()JS lund- ljliing <.'tratL'V.l-.(i incluJ£' mi Ss m)rl.-I ti ￿_ ETresiilei Tha55 niil.'keting an¢l.svents, .-Pe cttiinll. IS i?rr¢iriylTV, to a¢ii it. t&rget.' throuxh sil(.-u ing clont I I ns from Williiirf iniliiiiduals. A de¥eloprn.'Iil boiirj Ii'a'i ￿.. creited to Ii,'Ii) Ini.'luJe olhe- avL'nJes o func'rai., In v to bp. included in tlie yeaT..y proi{r 4wn'ne. STR'llI=TIJRE (il.'IVI.'RNlINI-.E Il ¥D IdANAGI'fvIENi The, l2dperr eJ.-h.lsti.Iri (."hu'.4-11 o." G(xl IF I'CG)- ¥i_-¥ ol loi is an ni ory oraiixd ( 1¢ itablo (Irgan saticr IDrmed Dn 31 st Dp( elTII)Ei' 201 l ènd 'egis:ered a..; J dia ity. on i.nd SepteTrbei 202(J Tht., YiethDd > a('or led or Iki(, -i_Yr.'iirneii1 arid a iPi)inliiier t of ni.'4V-.ri ste£.: .11 L merrnk.:s i)f Ilie G2-IiJral Trus.'ii+S1103'11 Ic - I Ii: purpos= 5 '.)1 c-lcl ity lilm.. New 1ruste ¥ mily t ppointc. . d Jy fi>soI Ji ,)n Of a IY,É E ting D t￿,. ti Jct¢.'i--: Muci of ttrie ch, rltll'¢.b lil￿r5 It =LSI%lD upon tl't VUmi)tion of the Ctr ristia ) riSii iicri a )d the r'.Jnnir8 èn¢1 mJirir•nanci! ol itq p a.. af .lée rsliip- Ttri(.' aenerdl I"r11511'.e Ll:iJr,J Si*ibk's to ensbf i. l.Trat ."hi* neL.ds 9t this grou,) are api rc )riately relleLTeiJ"..I I'.?u8h the (li¥eisitl l-bf '.hÉ, ti'u* lo.. bi. ti. lo Enh,J- th(. ij )tE.n.-i31 pool c,f trui le￿s. th£ I'.1 arity h:s. ;hicuiitr ., Jlertive dd¥É rlESlnb 4 ric nL.Iwuiiil i 0 Ii¢.'hie'iil I otije";Ivo.s a i(1 I")r1044. linani.'ial arid iepiJ:Jti?nal, Inher•nt In thf envi onm3nt n whiknh Mie .?y.rate i'l the nature ol th ,. tr.'iii* ai'lii)qs uri f rlakeii. iippiin(lerci! ttii voluiit.-iry nconip. .4 I'l stefbs P.IVf' inltli1tt,11 iliirbous procu5SI. 5 tc mi'.￿. ti. .1, 54) that tli .' Ihori y lia5 . Jfficiewit le.￿.￿ th to ihi 'Y '.nt i?f ailv('rsi¥ Ci.>llfli.'i¢Jn{51. TbÉ. .rusi-ep¢ I'idiie ..Ili.o I:1 jimiiied cther OF iifiltioiial aod bii'iiness ri%ks ihicP It1f'%' ace an,- Ciinlii'n, ti.: I they h<)￿e '.akeii t.'k In. IBTEE'S IICSPOIJSINILfiiES Tht. aaai'd o. riJsii¥e s114s oviTrri)11 responsi)11 ly lor ensL ring that ttie C iaiity ia.'- on appropr.atLi SY￿￿.1 11 of cor-t'.i)Is, fin ial --Ind i)thp￿. se. -he.y a."*. al%0 Tthti)on¢ blf for kf*Jini proi)p.r Iii ourrins riicordi ¥,Iill.'h dis1-1)se witl I re.'4sr)rkit. e ¢lCCill¢ClI at dny l li￿￿ th- Iinani.'i31 p051tlLJP of .he Char IV and ent bla tlism .'Ii Isnsu that tne flrian.=i'.Il si atE,'TioiIIs c (briii)Iy with ..h-. Ct a" ries Icl 19Q3. 1-*ey are cls'ii -e .porisible lor 5afeEI.Irding the il: sets o thiT CliarS11 and I,en,-,J for t#il: ni:- reilscinable s.'eps fc>r the deti',.lii)'l É nd i)revention of Ir.'IiJd and other Irr&8u ari':le: SiKiii'.d n bi.half ol thi_. Trust':e5 Adp.Ic kunbc C)II.Iw.-:Itot, Trus-.f.e 01 ,)ctobe,.'102,1 The Redeemed Christian Churth ofGod- ty ofjoy Independent Examlners Report Independènt Examlner's Rep(Yl to the trusw of The ftedeefi￿ Chri5Qian (>wrth ol GI￿. Cityofj l ￿portt0 the charlty trnstees on my examinatvJn of the financial statements of The Redeèméd Christian Church of God- Cty ofjry for the year Ènded 31 March 2024. Responsibllities and basis of report A5 the Charitl5 Trustee5 of the company, you are Tesponsible for the preparat￿n of the financial statements n accordan￿ with the requirements of the Charities Act 2011 Ithe ACTI Having satisfied my5elF th￿ the financial statements ol the Charity are not required to be audited under Part 16 of the Art and are el%rrible for Independent examination. I report in respect of my examinatp)n of your charitV'5 finano415tatefflents as Carr￿ out under sedh)n 145 of the Charitie5 Art 20111'the 2011 Act'l. In carrying out my examinat*)n I have followed the DIrett￿n5 given by the Charity Commiss￿￿ under section 145151 Ibl of the 2011 Act. lftdependent examinerf5 ststement I have completed my examination. I can confirm that no rnaterial mèlter5 have come to my attention in (onnection with the examination giving rne c3USÈ to believe.. • accoun11￿ records were not kept in accordance wtlh sectN)n 386 of the ?(￿ Act; or • the finantial statements do not accord wrth those records. or • the financial statements do not compty WTth the accounting requirernents under settion 396 of the Acl other than Bny requirement that the financial slatevnents give a'true and fair, view which is not rnatter considered as part of an independenl examinat￿n. or the finan¢01 statements have not been ￿pared in accordan￿ with thè methods and w1ncl￿e$ of the Statement of Recommended Practice for acwuntin8 and reportin8 by chartttes applicable to charitie5 PTeparin8 their accounts in accordance wtth the Fina￿la1 Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concem5 and have come across no other matters in connection with the examination to which attentb)n shouhj be drawn in ths re￿rt Sn order to enable a proper understandin8 of the financial st*ementS to be reached. Dawnette Allen BA IHonsl FCCA 3flJ Accountlng Servi￿$ Ltd 27 Okl Gloucester Street London WCIN 3AX Oi October 2024 Page 4 The Redeemed Christian Chuf¢h of God. Clty of J Stalement ol ￿nan¢la1 Activitbes for the year ended 31 Mwth 2024 Unrestrlcted funds Total lund5 Total funds 2024 2024 2023 Note5 Income ar￿ endoMnents from: Donatknns and legacles Interest Income 46.956 1,013 46,956 1,013 43,389 125 Totsl 47.%9 47,969 43,514 Expendlture on: Raising funds Charitable actNities other expenditure Totsl 7,420 4,146 14,687 7,420 4,146 14.687 10.316 1.236 9,427 26.253 20,979 Net gain5 on inveslments Net Income 21.716 21,716 22,535 Trnnsfers between funds Net Income belore other galn51110gses) 21.716 21,716 22,535 Other ylni •nd los Nrt mo¥•m•nt In lunth 21.716 21,716 22,535 Reconclll•tlon ol funds: Total funds brou8hi forward 81,If 81,IE 58,625 Total funds carried lo￿4Td 102.876 102,876 81,160 Pa8e 5 The Rede•med Christian Church vl God- ty ofjov Summary Income and Expendlture Account for the year ended 31 Marth 2024 2024 2023 Income and Gift Aid 46.956 43,3B9 Bank interesl received 1,013 125 Gross Income for the ye*r Expendlture 47.969 43,514 22.755 18,154 Depreciation and char8es for impairmÈnt of fixèd assets 3.498 2,825 Totsl expenditure fvr the y*•r Net Income befofe tax for the year 26.253 20,979 2L716 22,535 Net Inctyne for tht ye•r 21,716 22,535 Page 6 The Iledciam L¥1 i-hi'lstlilfl r.hui'i=li ol God- .1*1 of I,u Baliiii¢e l>h& at 31 Maid 12i124 r4¢Y.es 2.(1:'4 2023 Fixityl assets Tangible ai'tijts 6.919 G.919 Cuir2nt ass( ts Cash at E ail.. ¢iiid iri l)3Fid '.4,041 Credltor.5: A Me.In1 ffilli'ig dui-: within one ie¢ir Nel., :urrerit a'.Kii¥t5 18001 4,241 Total as*bè1'.s ¢1.1n'piit l..abilties 111,160 Nel,. Issets e¥i:IiJdi116 F._'In!.ioii a55et or Ilal)ility I:.I,160 il.l.160 Toial net ?5 eti. Th*1 Funds o. thii cli8rlli' Restrictcid fi Ihds Uiii¥4trkt*( fui)d,.' C,*.neral ' iJn,Js LO2,RI liJ.160 RÈ1* r¥es Toial fund5 J.02,8-7 ill.160 An(1 si Adf..Ic,kunbo OILIw.:.Itol, Trus."{ 01 October "102,1 The Redeemed Christian Church of God- City of Joy Note5 to the Ac(ount5 for the year ended 31 March 2024 l Accountlns pollcie5 Basis of preparation The financial 5tatement5 have been prepared in accordance wfth Accounting and Reporting by Charitie5: statement of Recommended Practlce appllcable to charrties preparing their accounts in accordance wTrth the Financial Reporti￿ Standard applicable in the UK and Republic of I￿land IFRS 1021 (effective I january 20151- Icharities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Art 2(X)6. Fund accountln8 Unrestricted funds These are available for use at the discretion of the trustees in furtherarE¢e of thè general objec15 of the tharity. These are unrestricted fund5 earmarked by the trustees for particular purposes. These are unrestricted fund5 which include a revaluation reserve representin8 the restatement of investment assets at their market values. ThesÈ arè available for use subject to restrictions imposed by the donor or through terms of an appeal. DesEnaied funds Revaluation fund5 Re5trirted fund5 Income Recogniiion of Income Income is included In the Statement of Financial Activities ISOFAI when the charlty becoFnes entitled to, and virtually ￿rtain to receive, the inc¢xne and the amount of the Income can be measured with sufficient reliability. Income wlth related where income has related expen(iiture the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacie5 Voluntary income feceived by way of grants, donations and gifts is included in the the SOFA when receivable and On￿ when the Charity has unconditional entitlement to the income. Income from tax reclaims Is Included in the SOFA at the same time as the donations and gFfts 8ift/donation to which it relates. Donated service5 These are only included in income Iwith an equfvalent amount in expenditure) and facilities where the benefit to the Charity 15 reasonably quantrfiable. measurable and material. Volunteer help The value of any volunteer help received 15 not included in the accounts. Investment income This is included in the accounts when receiv&ble. Gains/l105sesl on Thi5 intludes any gain or loss re5uEting fro￿ re¥aluin8 investments to market value rev3luation of fixed at the end of the year. a55ets Gains111055esl on investment assets Tax reclaims on Thls Includes any gain or loss on the sale of investments. Page 8 The Redeemed Chrlstlan Churth of God- City ofJDv Notes to the Atcounts Expend•ture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure include5 any VAT whlch cannot be fully retov@rÈd, and is reported as part of the expenditure to whlch It relates. Expenditure on These comprise the cosls a550cialed with attractin8 voluntary income, fundraising raising funds trading costs and investment management Costs. Expenditure on These comprise the costs incuried by the Charlty in the delivery of its activities and charitable artIv￿leS seNlces In the furtherance of its objects, including the maklng of grants and govefnallce cost5. All grant expenditure 15 accounied for on an artual paid basis plus an accrual for 8rants that have been approved by the trustees at the end of the year but not yet pald. These include those costs a550cIBted with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees. costs linked to the slrateglc management of the Charity, logether with a share of other admlnlstratlon cosis. Other expenditure These are support costs not allocated to a particular actlvity. Grants payable Governance costs Tradé and oiher debtors Trade and other debtors are recoRnised at ihe settlemenl aniount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade di5count5 due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, dèmand deposlts with bank5 and other short-term hl8hly liquld Investments wlth orlESnal maturitles of three months or lèss and bank overdrafts. In the statement of financial p051tion. bank overdrafts are shown wFthin borrowSn8s or current Ilabilrtles. In the Statement of Cash Flow5, cash ond cash equivalents are shown net of bank overdrafts that are repayable on demand and form an inle8ral part of the company's cash management. Tradq and other creditor5 Short terrn creditors are measured at the transactlon prlce. Other credltors and Pfovlslons are fecognlsed where the charity has a present obli8ation resultin8 from a past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obllgatlon can be measured or estlvnated rellably. Credltors and provislons are normally recognlsed at their settlernent amount after allowln8 for any trade dlscount5 due. Re￿Ipt of donated 8oods. la¢llltles and sernrf¢es All donated 8ood5, facllltle5 and serylces recelved are reco8nlsed wlthln Incomln8 re50urce5 and expendllure at an estlmate ol the value to the charlty. Page 9 The RedÈèmed Chrlstian Church of God- Clty of Joy Note5 to the Accounts 2 Intome from donatlons and legacies Unrestricted Total Total 2023 2024 Donatlons 39,371 7,585 46,956 39,371 7,585 46,956 38,018 5,371 43,389 Gift aid 3 Income lft)m Investments Unrestrlrt¢d Totsl 2024 Totsl 2023 Interest Income 1,013 1,013 1,013 1,013 125 125 4 Exp•ndltur• on r•liln8 lundi Unr•strkt•d Total Totll 1023 2024 Costs of genernting voluntory Income 7.420 7,420 10,316 10,316 7,4?0 7,4?Q 5 Expendlture on tharltable •rtl¥ltles Unrestricted Total 2024 Total 2023 ExpendItU￿ on churltoble ctlvlties 1,881 1,881 436 Governonce costs 2,265 4,146 2,265 4,146 1.236 Page 10 The Redeemed Christian Churth ofGod- Clty ofjov Ilotes to the Accounts 6 Other expenditure Unre5trirted Total Total 2023 2024 Motor and Iravel costs 4,767 4.767 3.488 Premises costs Amorti5ation, depreciation, Impalrment, profit/loss on dlsposal of fbxed asset5 General 8dmlnlstrative costs 4,423 4,423 1,984 3,498 3,498 2,825 1.999 14,687 1.130 9,427 14,687 7 Staff costs No employee recelved emoluments in excess of £60.[￿). 8 T•n8lble flxed assets Cost or re¥•luitlort At l April 2023 Additions At 31 March 2024 Depreclatlon and Impalrment At l April 2023 Depreciation charge for the year At 31 March 2024 5,892 1,503 7,395 11,892 1,503 13,395 2,4CI) 2.S73 4,973 1,2 Z,298 3,498 4,871 8,471 book values At 31 March 2024 2,524 3,319 4,924 6,919 At 31 March 2023 9 Credltors: amount5 falling duc wrihin one year 2024 2023 Other credltors Accruals 8LXI 899 8CA) 10 Reconcllla￿on of net d At31 March 2024 At l April 2023 Cash flows Cash and cash equlvalent5 75,041 75,041 23.810 23.810 98,851 98,851 Net debt 75,041 23,810 98,851 Page 11 The Redeemed Chrlstian Church of God- City of Joy Detalled Statement of Finanual Activities for the year endèd 31 Maith 2024 Unrestrkted fvnd$ Tot41 funds Tot#1 lunds 2024 2024 2023 Income and endoTments from: Donations and legacies Donations Gift aid 39.371 7,585 46,956 39,371 7,585 46,956 38,018 5,371 43,389 Investments Interest Income 1.013 1.013 1.013 1.013 125 125 Totsl Income and endowments 47,969 47,969 43,514 Expenditure on: Cosls of generating donations and legacies 7,420 7,420 7.420 7,420 10,316 10,316 Total of expendltur• on ralsln8 fund$ 7.420 7,420 10,316 Charitable activit4e5 1,881 1,881 1,881 1,881 436 436 Governonce costs 2,265 2,265 2.265 2,265 800 800 Total ol txp•ndltur• on ch•rltable artlvltles 4,146 4,146 1.236 Motor and travel cost5 Vehlcles- General cost5 Vehitles- Insurance and licences Sravel and subslste.nce 693 693 987 1,020 2,468 3,488 3,087 4,767 3,087 4,767 Premises ￿$tS Rent 4,423 4,423 4,423 4,423 1,984 1,984 General admlnbstratlve costs, including depreciaiion and amortlsatlon Depreciatlon of Depreciation of General insurances 1,200 2,398 222 1,200 2,298 222 1.200 1,625 215 Page 12 The Redeemed Christi•n Chureh of God - City of Joy Detalled Statement of Finandal ActlvStles Sofiware, IT support and related costs 278 278 327 Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband 708 210 91 441 72 210 91 490 75 5,497 14,687 5,497 14,687 3,955 9,427 Total ol empendlture of other costs Total eNpenditure Net 8alns on Investments 26,253 26,253 20,979 Net Ineame 21,716 21,716 22,53S NÈt IncomÈ before other galnslllosse$l Other Gains 21,716 21.716 22,535 Net movement In lunds 21.716 21.716 22,535 Recwclllotlon of fund5: Total funds brought forward 81.160 81.160 58.625 Toial funds ¢•rrled lorward 102,876 102,876 81,160 Page 13