## **RCCG**
## **FAITH HOUSE READING**
## **RCCG FAITH HOUSE READING**
**TRUSTEE’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2023**
1
## **RCCG**
## **FAITH HOUSE READING**
||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|
2
**Corporate Information**
**Registered Charity Number:** 1191916 **Registered Company Number:** 12985474 **Registered Office:** 17 Easby Way, Lower Earley, Reading, England. RG6 3XA **Parish Pastor: Board of Trustees:** Stephen Omotayo Olubunmi Osun Omobolanle Balogun Cyprian Akpelishi Amgbah **Bankers:** Barclays Bank PLC 1 Churchill Place, London, England E14 5HP
3
**Board of Trustee’s Report**
## **1.0 Introduction**
The Board of Trustees present their report and accounts for the period ended 31st October 2023. 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 Charitable Company and Governed by Memorandum and Articles of Association dated 15 October 2020.
## **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**
The Redeemed Christian Church of God, Faith House, Reading is a charity registered in 2020. It is governed by a Memorandum of Articles of Association and is controlled by a board of trustees whose members are appointed as set out in the Memorandum of Association and Constitution of the charity. Membership of the Board of Trustees consists of 3 individuals appointed by the charity who are of high spiritual and moral standing.
4
**Board of Trustee’s Report**
## **1.2.5 Related Party Relationships**
The charity 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 trustee board performs its duty of safeguarding the charity against major risk. The board regularly reviews the charity’s governance structures, policies, procedures and practices. It recommends strategic and operational options and implements adequate prudent controls and preventative action to safeguard the assets of the charity, as well as its reputation.
## **2.0 Objectives and Global Outreach**
## **2.1 Objectives and Activities**
- To advance the Christian Faith in Reading and in such other parts of the United Kingdom or the World as the Trustees may from time to time think fit.
- To relieve people who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in Reading and in such other parts of the United Kingdom or the world as the Trustees may from to time think fit.
- To advance education in accordance with Christian principles in Reading and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.
- To promote and fulfil such other charitable purposes beneficial to the community in Reading and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
## **2.2 Grant Making Policies**
Under the ‘’Agreement for common purpose’’, the charity has agreed to make regular contribution to the World Evangelism Mission (WEM) through RCCG Central Office UK to support church planting and missionary objectives, such as Festival of Life, Good Women Fellowship, Annual Convention held at RCCG National Headquarter.
## **2.3 Contributions Made by Volunteers**
The charity enjoys the services of various volunteers, who contribute enormously in various areas of
5
## **Board of Trustee’s Report**
service provision, development and implementation of the Church’s vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations.
## **2.4 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 total of sum £31,016 was received in voluntary income. Total resources expended was £21,221 thus resulting in operating surplus of £9,795. Cash at the end of the period was £16,253.
## **3.1 Principal Funding Sources**
The charity’s main source of fund this year has been through voluntary donations from members.
## **4.0 Future Development**
The Charity plans to continue with its various activities relevant to its local community. In the coming year, the Charity plans to organise more developmental seminar/conference and workshops for its members and local community,
6
**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 accrual’s basis and
have been examined by an independent examiner, whose report is also appended.
This report was approved by the Board of Trustees on 30 June 2024 and signed on their behalf by:
## **On behalf of the charity:**
Stephen Osun
Chairman, Board of Trustees
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## **Independent Examiner’s Report**
**Report to the trustees/members of:** The Redeemed Christian Church of God, Faith House, Reading. **On accounts for the year ended:** 31st October 2023, set out on pages 9 - 13 **Charity No:** 1192302
## **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 low:
- (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:** 30 June 2024
**Name:** Tobi Labeodan FCCA, 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
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## **Statement of Financial Activities: Period Ending 31st October 2023**
|**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 November 2022
Total funds carried forward at 31 October 2023|**2023**
**2023**
**2023**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**£**
**£**
**£**
31,016
31,016
-
-
-
**31,016**
**-**
**31,016**
**31,016**
**-**
**31,016**
15,446
-
15,446
4,962
-
4,962
813
-
813
**21,221**
**-**
**21,221**
**9,795**
**-**
**9,795**
-
-
**9,795**
**-**
**9,795**
2,848
-
2,848
**12,643**
**-**
**12,643**|**2022**
**2022**
**2022**|
|---|---|---|
|||**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**|
|||**£**
**£**
**£**|
|||17,820
-
17,820|
|||-
-
-|
|||**17,820**
**-**
**17,820**|
||||
|||**17,820**
**-**
**17,820**|
||||
||||
|||14,839
-
14,839|
|||506
-
506|
|||493
-
493|
|||**15,838**
**-**
**15,838**|
||||
|||**1,982**
**-**
**1,982**|
||||
||||
||||
||||
|||-|
|||-|
|||**1,982**
**-**
**1,982**|
||||
|||866
-
866|
||||
|||**2,848**
**-**
**2,848**|
9
**Statement of Financial Position: Period Ending 31st October 2023**
|**Notes**
**Fixed Asset**
Tangible assets
**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:**
Restricted Reserve
General reserves
Surplus/(Deficit) for the year
**Total charity funds**|**2023**
**£**
-
**-**
16,253
-
**16,253**
3,610
**3,610**
**12,643**
**12,643**
**-**
**12,643**
2,848
9,795
**12,643**|**2022**|
|---|---|---|
|||**£**|
||||
|||-|
|||**-**|
||||
||||
||||
||||
|||5,908|
|||-|
|||**5,908**|
||||
||||
||||
|||3,060|
|||**3,060**|
||||
|||**2,848**|
||||
|||**2,848**|
||||
||||
|||-|
|||**-**|
||||
|||**2,848**|
||||
||||
||||
|||866|
|||1,982|
|||**2,848**|
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## **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:
|Fixtures and fittings|25%|
|---|---|
|Equipment|25%|
|Vehicles|25%|
|Building|2%|
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## **Notes**
## **1 Donations and Legacies**
|**come**
Donations and legacies
Restricted Income
**tal donations & legacies**
**her income**
Gift Aid Receipts
Other income
**tal other income**
**tal Income**|**2023**
**£**
31,016
-
**31,016**
-|**2022**
**£**
17,820
-
**17,820**
-|
|---|---|---|
||**31,016**|**17,820**|
## **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**|**2023**
**£**
4,576
661
473
2,431
194
507
5
6,600
**15,446**
2,000
332
500
2,130|**2022**|
|---|---|---|
|||**£**|
|||2,018|
|||289|
|||778|
|||599|
|||193|
|||3,427|
||||
|||7,535|
||||
||||
||||
|||**14,839**|
||||
||||
||||
|||-|
|||-|
|||506|
||**4,962**
263
550
**813**|**506**|
||||
||||
|||13|
||||
||||
|||480|
|||**493**|
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## **Notes**
## **3. 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.
## **4. Trustee Remuneration & Expenses**
During the year, there were not payments or reimbursement of expenses to trustee members.
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