2024-12-31-accounts - The Redeemed Christian Church Of God Praise Embassy Eton Wick

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PRAISE EMBASSY ETON WICK

THE REDEEMED CHRISTIAN CHURCH OF GOD

THE REDEEMED CHRISTIAN CHURCH OF GOD PRAISE EMBASSY ETON WICK

TRUSTEE’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024

PRAISE EMBASSY ETON WICK

THE REDEEMED CHRISTIAN CHURCH OF GOD

	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 2024. 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 the articles of association dated 07 April 2020.

1.2.2 Trustee Appointments

Trustees are appointed under the terms of the articles.

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 Eton Wick 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 £11.44 per hour, the volunteer’s effort will amount to over £34,400.

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 £152,921 in total income. Total resources expended was £123,765 thus resulting in a surplus of £29,155. Cash at the end of the period was £5,907.

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

Our charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is always seeking to grow in membership and continue to develop its members to make lifechanging impact in society.

Board of Trustee’s Report

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 25 August 2025 and signed on their behalf by:

Full Name: Mr Olusayo Isola

Signature: Position: Chairman

Date: 25 August 2025

Independent Examiner’s Report

Report to the trustees/members of: The Redeemed Christian Church of God Praise Embassy Eton Wick On accounts for the year ended: 31st December 2024 Charity No: 1129223

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: 25 August 2025

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 2024

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 2024 Total funds carried forward at 31 December 2024	2024 2024 2024 Unrestricted Funds Restricted Funds Total Funds £ £ £ 124,552 124,552 28,368 - 28,368 152,921 - 152,921 152,921 - 152,921 95,723 - 95,723 18,572 - 18,572 9,470 - 9,470 123,765 - 123,765 29,155 - 29,155 - - 29,155 - 29,155 276,456 - 276,456 305,611 - 305,611	2023 2023 2023
		Unrestricted Funds Restricted Funds Total Funds
		£ £ £
		118,977 - 118,977
		25,868 - 25,868
		144,845 - 144,845

		144,845 - 144,845


		79,043 - 79,043
		31,209 - 31,209
		1,888 - 1,888
		112,140 - 112,140

		32,705 - 32,705




		-
		-
		32,705 - 32,705

		243,751 - 243,751

		276,456 - 276,456

Statement of Financial Position: Year Ended 31st December 2024

Notes Fixed Asset Investment Tangible assets 3 Total Fixed Asset Current Assets Debtors & Prepayments 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: Restricted Reserve Retained reserves Surplus/(Deficit) for the year Total charity funds	2024 £ 3,000 614,815 617,815 5,630 28,320 5,907 - 39,857 27,424 27,424 12,432 630,248 324,637 324,637 305,611 - 276,456 29,155 305,611	2023
		£

		3,000
		611,205
		614,205


		6,600
		25,813
		8,263
		-
		40,676



		26,314
		26,314

		14,362

		628,567


		352,111
		352,111

		276,456



		243,751
		32,705
		276,456

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 2024

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 Finance Charges Depreciation Honorarium Total Charitable Activities Other Charitable Activities Outreach Central Office Welfare & Benevolence Charitable Donations Total Other Charitable Activities Other Costs Professional fees and services Other costs Legal fees Accountancy fees Total Other Costs	2024 £ 124,552 - 124,552 28,320 48 28,368	2023
		£
		118,977
		-
		118,977


		25,813
		55
		25,868
	152,921 2024 £ 3,127 2,886 25 3,222 3,614 25,302 2,176 18,794 13,699 22,579 300 95,723 3,318 7,884 2,410 4,960
		144,845

		2023
		£
		4,218
		2,142
		488
		2,929
		2,642
		21,538
		394
		13,436
		14,130
		16,874
		250
		79,043


		1,049
		23,044
		2,196
		4,920
	18,572 9,470 9,470	31,209


		1,888



		1,888

Notes to the Financial Statements: Year Ended 31st December 2024

3. Tangible assets

Cost At 1 January 2024 Additions Disposals Revaluations At 31 December 2024 Depreciation At 1 January 2024 Charge for the year Adjustments At 31 December 2024 Net Book Value At 1 January 2024 At 31 December 2024	Property Vehicles Equipmen t £ £ 605,000 2,939 39,557 - - 15,946 - - - - - -	Fixtures & Fittings £ 22,143 10,243 - - 32,386 12,244 6,718 - 18,962 9,899 13,424	Total £ 669,639 26,189 - -
	605,000 2,939 55,503		695,828
	22,183 2,939 21,067 6,050 - 9,811 - - - 28,233 2,939 30,878 582,817 - 18,490 576,767 - 24,625		58,434 22,579 -
			81,012

			611,205
			614,815

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 2024

6. Staff cost and numbers

Wages and salaries Social security costs	2024 £ 20,528 - 20,528	2023
		£ 19,367 -
		19,367

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