2021-12-31-accounts - The Redeemed Christian Church Of God Praise Embassy Eton Wick

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THE REDEEMED CHRISTIAN CHURCH OF GOD

PRAISE EMBASSY ETON WICK

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE EMBASSY ETON WICK

TRUSTEE’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

THE REDEEMED CHRISTIAN CHURCH OF GOD

PRAISE EMBASSY ETON WICK

	Page
Corporate Information	3
Board of Trustee’s Report	4
Independent Examiner’s Report	8
Statement of Financial Activities	9
Statement of Financial Position	10
Accounting Policies	11
Notes	12

Corporate Information

Registered Charity Number:	1191630
Company Registration Number:	12552021
Principal Office:	Haywards Mead
	Eton Wick, Windsor
	SL4 6JN
Parish Pastor:	Pastor Olusegun Omotayo
Board of Trustees:	Mr O Isola
	Mr O Omotayo
	Mr O Edokpayi
	Mrs C Chukwu
Bankers:	HSBC Bank Plc
	128 High street
	Slough
	SL1 1JF

Board of Trustee’s Report

1.0 Introduction

The Board of Trustees present their report and accounts for the year ended 31st December 2021. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005.

1.1 Public Benefit Statement

The Trustees confirm that they have complied with the duty in section 4 of the Charites Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charites and Public Benefit".

1.2 Structure, Governance and Management

1.2.1 Governing Document

The charity is constituted as a “Trust” and Governed by ‘Trust Deed’ dated 18th March 2009.

1.2.2 Trustee Appointments

Trustees are appointed under the terms of the trust deed.

1.2.3 Induction and Training Policies

The induction process for a newly appointed trustee comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Parish pastor on the powers and responsibilities of the Trustees.

1.2.4 Organisational Structure and Decision Making

The charity is organised so that the Trustees meet regularly to manage its affairs. The Parish pastor manages the day to day administration of the church.

1.2.5 Related Party Relationships

RCCG Praise Embassy Slough is a parish of The Redeemed Christian Church of God which has parishes all over the world. The parish’s relationship with other parishes is governed by an ‘Agreement for Common Purposes’.

1.2.6 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 the systems are in place to mitigate our exposures to the major risks.

Board of Trustee’s Report

2.0 Objectives and Global Outreach

2.1 Objectives and Activities

The principal object is the advancement of Christian faith worldwide and the relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve its objectives, the church adopted the following strategies:

Running seminars in the church with proven ministers of the faith to guide members in the various aspect of Christian faith,
Support for other charities and Christian events,
Providing overseas aid and famine relief, and
Involving in economic and community development

The activities for achieving its objectives include:

Community outreach events
Conferences and events
Welfare support to members and general public, and
Various missionary activities

2.2 Public Benefits

Christian faith. Apart from its Church activities, the charity was involved in the following public benefit efforts:

The Charity’s welfare group visited the homeless and basic needs were supplied to them.
The Charity runs regular visits to the Slough Refugee Support and financial support was also given to the group to help the group achieve its charitable objectives.
The Charity continued to support Action for Blind through a regular monthly financial contribution towards the organisation’s objectives.
The Charity also contributes regularly to Teen Support a charity working to develop young people in our community.

Our efforts are geared towards supporting the programmes of our local council, promoting cohesion in our community, and positively impacting the lives of the young people and the elderly.

2.3 Grant Making Policies

The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life, RCCG Province and other RCCG Programmes. The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.

Board of Trustee’s Report

2.4 Contributions Made by Volunteers

The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 3000 hours are provided by volunteers during the year. If this is conservatively valued at £8.91 per hour, the volunteer’s effort will amount to over £27,000.

2.5 Achievement and Performance

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.

3.0 Financial Reviews

During the period, the charity received £117,958 in total income. Total resources expended was £111,863 thus resulting in a surplus of £6,095. Cash at the end of the period was £4,082.

3.1 Principal Funding Sources

Funding has been provided mainly through tithes and offerings by church members and through gift aid. Pledges are also taken for specific projects. In the year funds were raised towards the church building project.

3.2 Reserves Policy

The Trustees’ policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable the current activities to continue if there is a significant drop in funding. It would obviously be necessary to then consider how the funding would be replaced or activities changed. The present free reserve is below the policy range, but the Trustees are continuing to seek additional unrestricted funds.

3.3 Investment Policy

The Trustees have decided that at present, funds should be retained in Banks and Building Societies, and as far as possible in interest bearing accounts.

4.0 Future Development

In order to help carry out its various activities and achieve its objectives, the is planning to acquire a property that will serve dual purposes as a licenced place of worship and a community centre. As a place of worship, it will offer Christian worship in a more convenient environments and as a community centre will allow Praise Embassy to run its programmes and will also be opened to community use at a reasonable fee for residents.

We currently run a Boy’s brigade meeting for young people but are limited in the numbers we could accommodate due to availability of space. We believe having our own space will enable us to cater for more young people in the community. We intend to engage them and model them to be better leader in

Board of Trustee’s Report

our community and nation.

We currently support the local food banks but are planning to set up local soup kitchens and food bank when we can acquire a property.

Our charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in society.

Trustees’ Responsibilities

The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for the year. In preparing these financial statements the trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgments and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going-concern basis unless it is inappropriate to
presume that the charity will continue in business.

The trustees are responsible for keeping 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 Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

This report was approved by the Board of Trustees on 10th August 2022 and signed on their behalf by:

Full Name: Mr Olusayo Isola

Signature:

Position: Chairman Date: 10th August 2022

Independent Examiner’s Report

Report to the trustees/members of: The Redeemed Christian Church of God Praise Embassy Slough On accounts for the year ended: 31st December 2021 Charity No: 1191630

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with 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 the 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 statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which give me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act;
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed: Date: 10th August 2022

Name: Tobi Labeodan, for and on behalf of Chedders Ltd

Relevant professional qualification(s) or body (if any): ACCA

Address: Ground Floor, Synium House, r/o 94-96 High Street, Henley in Arden B95 5FY

Statement of Financial Activities: Year Ended 31st December 2021

Notes Income: Donations and legacies 1 Other income (Grants) 1 Total Income Total Income Expenditures on: Charitable Activities 2 Other Charitable Activities 2 Other Costs 2 Total Expenditures Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Gains/(losses) on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward at 1 January Total funds carried forward at 31 December	2021 2021 2021 Unrestricted Funds Restricted Funds Total Funds £ £ £ 98,520 - 98,520 19,438 - 19,438 117,958 - 117,958 117,958 - 117,958 86,786 - 86,786 21,099 - 21,099 3,978 - 3,978 111,863 - 111,863 6,095 - 6,095 - - 6,095 - 6,095 214,070 - 214,070 220,165 - 220,165	2020 2020 2020
		Unrestricted Funds Restricted Funds Total Funds
		£ £ £
		77,667 - 77,667
		16,158 - 16,158
		93,825 - 93,825

		93,825 - 93,825


		111,734 - 111,734
		5,937 - 5,937
		1,582 - 1,582
		119,253 - 119,253

		(25,428) - (25,428)




		-
		-
		(25,428) - (25,428)

		239,498 - 239,498

		214,070 - 214,070

Statement of Financial Position: Year Ended 31st December 2021

Notes Fixed Asset Investment Tangible assets 3 Total Fixed Asset Current Assets Loans & Advances Accrued Income Cash at bank and in hand Other Debtors Total Current Assets Creditors: amounts falling due within one year Other Creditors Other Current Liabilities Total Creditors: amounts falling due within one year Net current assets (liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year Other Non-Current Liabilities Total Creditors: amounts falling due after more than one year Total net assets (liabilities) The funds of the charity: Retained Reserve Restricted reserves Surplus/(Deficit) for the year Total charity funds	2021 £ 3,000 608,583 611,583 1,400 19,438 4,082 - 24,920 - 25,644 25,644 (723) 610,859 390,694 390,694 220,165 214,070 - 6,095 220,165	2020
		£

		3,000
		605,411
		608,411


		2,250
		16,006
		8,949
		-
		27,205


		-
		26,540
		26,540

		665

		609,076


		395,006
		395,006

		214,070


		239,498
		-
		(25,428)
		214,070

Accounting Policies

Scope and Basis of the Financial Statements

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities published in March 2005.

Income

Revenue is recognised in the period in which the charity is entitled to receipt once the amount can be measured with reasonable certainty.

Expenses

Expenditure is included in the Statement of Financial Activities (SoFA) on an accruals basis and is recognised at the point when a legal or constructive obligation arises. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Fixed assets

Fixed assets with an individual purchase of £500 or more are capitalised and stated at cost less depreciation which is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Vehicles	25%
Equipment	25%

Notes to the Financial Statements: Year Ended 31st December 2021

1. Income

1. Income
Income Donations and legacies Restricted Income Total donations & legacies Other income Gift Aid Receipts Other income Total other income Total Income 2. Expenditures Charitable Activities Premises Utilities Travel Motoring & Transportation Insurance Administration Advertising Operations Training Professional fees and services Finance Charges Depreciation Honorarium Total Charitable Activities Other Charitable Activities Outreach Central Office Welfare & Benevolence Charitable Donations Total Other Charitable Activities Other Costs Other costs Legal fees Accountancy fees Total Other Costs	2021 98,520 - 98,520 19,438 - 19,438	2020 77,667 - 77,667 16,006 152 16,158 93,825 2020 £ 45,246 153 339 1,076 2,490 26,731 2,466 7,283 - 7,482 10,090 8,177 200 111,734 146 1,200 331 4,260 5,937 - 47 1,535 1,582
	117,958 2021 £ 12,495 614 144 1,983 2,570 40,311 50 3,027 - 1,035 14,810 8,747 1,000 86,786 406 11,807 3,676 5,210 21,099 - 2,593 1,385 3,978

Notes to the Financial Statements: Year Ended 31st December 2021

3. Tangible assets

Property £ 605,000 - 605,000 4033.33 6050	Vehicles £ 2,939 2,939 2,939 - - 2,939	Total £ 622,486 11,918 - -
		634,404
		17,076 8,746 -
10,083 #		25,821
600,967 594,917
	-	605,410
	-	608,583

4. Related Party Transactions

During the year, the church made donations and contributions to other RCCG and charitable organisations as shown in note 3 under Central Office and Charitable Giving.

5. Trustee Remuneration & Expenses

During the year, there were no payments or reimbursement of expenses to trustee members.

Notes to the Financial Statements: Year Ended 31st December 2021

6. Staff cost and numbers

Wages and salaries Social security costs	2021 £ 31,683 248 31,931	2020
		£ 24,511 251
		24,762

No employee received remuneration amounting to more than £60,000 in the year

Average number of staff

Pastoral Admin	1 1 2	1 1
		2