2023-08-31-accounts - The Redeemed Christian Church Of God House Of Mercy Coventry

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REDEEMED CHRISTIAN CHURCH OF GOD

HOUSE OF MERCY COVENTRY

REDEEMED CHRISTIAN CHURCH OF GOD

HOUSE OF MERCY COVENTRY

TRUSTEE’S ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023

REDEEMED CHRISTIAN CHURCH OF GOD

HOUSE OF MERCY COVENTRY

	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:	1192302
Registered Office:	6 Alfall Road
	Coventry.
	CV2 3GB
Parish Pastor:	Pastor Tunde Emmanuel Madariola
Board of Trustees:	Mr Olakunle Ikuomola
	Mr Olaniyi Adegunna
	Mr Evans Robert
Bankers:	Barclays Bank PLC
	1 Churchill Place,
	London, England
	E14 5HP

Board of Trustee’s Report

1.0 Introduction

The Board of Trustees present their report and accounts for the period ended 31st August 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 “Trust” and Governed by ‘Trust Deed’ dated 10 November 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, House of Mercy, Coventry 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.

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’.

Board of Trustee’s Report

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 Coventry 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 Coventry 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 Coventry 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 Coventry 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 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.

Board of Trustee’s Report

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 £33,374 was received in voluntary income. Total resources expended was £23,877 thus resulting in operating surplus of £9,497. Cash at the end of the period was £2,501.

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,

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 25 May 2024 and signed on their behalf by:

On behalf of the charity:

Mr Olakunle Ikuomola

Chairman, Board of Trustees

Independent Examiner’s Report

Report to the trustees/members of: The Redeemed Christian Church of God, House of Mercy, Coventry. On accounts for the year ended: 31st August 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: 25 May 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

Statement of Financial Activities: Period Ending 31st August 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 September 2022 Total funds carried forward at 31 August 2023	2023 2023 2023 Unrestricted Funds Restricted Funds Total Funds £ £ £ 25,762 25,762 7,612 - 7,612 33,374 - 33,374 33,374 - 33,374 15,072 - 15,072 8,185 - 8,185 620 - 620 23,877 - 23,877 9,497 - 9,497 - - 9,497 - 9,497 (4) - (4) 9,493 - 9,493	2022 2022 2022
		Unrestricted Funds Restricted Funds Total Funds
		£ £ £
		19,113 - 19,113
		4,355 - 4,355
		23,468 - 23,468

		23,468 - 23,468


		10,870 - 10,870
		11,523 - 11,523
		635 - 635
		23,028 - 23,028

		440 - 440




		-
		-
		440 - 440

		(444) - (444)

		(4) - (4)

Statement of Financial Position: Period Ending 31st August 2023

Notes Fixed Asset 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 Bank loans and other finance (long term) 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 £ - - - 7,612 2,501 - 10,113 - 620 620 9,493 9,493 - - - 9,493 (4) 9,497 9,493	2022
		£

		-
		-




		746
		-
		746



		750
		750

		(4)

		(4)





		-

		(4)



		(444)
		440
		(4)

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%

Notes

1 Donations and Legacies

Income Donations and legacies Restricted Income Total donations & legacies Other income Gift Aid Receipts Other income Total other income Total Income

2023 £ 25,762 - 25,762 7,612 7,612	2022
	£
	19,113
	-
	19,113


	4,355

	4,355
33,374
	23,468

2 Expenditures

Charitable Activities Premises Utilities Travel Motoring & Transportation Insurance Administration Advertising Operations Training Finance Charges Depreciation Honorarium Total Charitable Activities Other Charitable Activities Outreach Central Office Levies & dues Welfare & Benevolence Charitable Donations Total Other Charitable Activities Other Costs Professional fees and services Other costs Legal fees Accountancy fees Total Other Costs	2023 £ 5,334 1,214 2,702 1,241 274 870 1,337 2,100 15,072 2,031 2,092 - 2,925 1,138	2022
		£
		7,102
		559
		740
		795
		212
		223

		839
		100


		300
		10,870


		678
		1,394
		250
		-
		9,201
	8,185 620 620	11,523





		635
		635

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.