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2023-11-30-accounts

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS Trustees Report and Financial Statements for the year ended 30November, 2023

Company Number: 12308703 Charity Number: 1193058

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

Contents

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 3
Trustees Report 4 - 7
Independent Examiners Report on the Financial Statements 8 - 9
Statement of Financial Activities 10 - 12
Notes to the Financial Statements 13 - 18

2

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER, 2023

Trustees: Victor Monday Kadiri appointed 19/02/2023 Michael Soniran Ofure Melisa Erhahon appointed 19/02/2023.

Principal Office: Adult College, 127 Ripple Road, Barking. IG11 7PB

Independent Examiner: Adekunle Fawunmi

Fabek Associates & Co Ltd Certified Chartered Accountants 32 Dewey Road Dagenham Essex RM10 8AR

Company Number: 12308703 Charity Number: 1193058

3

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

TRUSTEES REPORT

FOR THE YEAR ENDED 30 NOVEMBER, 2023

The Trustees present their report with the financial statements of the charity for the year ended 30 November 2023. The Trustees, for the purposes of the Charities Act 1993 as amended have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Charity is governed by a constitution.

Report of the Trustees

At Gloryland Connections, we have been able to build on the achievements of the previous year and advance our community engagement with the local people. We have been able to reach more individuals within the community with our food bank—a dream nurtured through years of prayer and planning. This initiative stands as an encouragement of support for both our members and the wider local community during these challenging times.

We have been able to relocate our place of worship from 227 Gascoigne Estate IG11 7LN to a new centre127 Ripple Rd, Barking IG11 7PB, this has placed us at the centre of Barking thereby reaching out to more people within the community.

Our weekly service

Our regular schedule remains steadfast: Sunday services continue from 10:30 am to 1 pm at our new location, the Adult College on 127 Ripple Rd, Barking IG11 7PB, necessitated by various challenges including financial constraints. Mid-week Bible studies persist every Wednesday from 7 pm to 8 pm via Zoom, while evangelism efforts are concentrated on the third Friday of each month. Additionally, the first Friday hosts house fellowships and the last Friday is dedicated to a night of praise and prayers. Men gather for prayer meetings every Monday from 7 pm to 8 pm via Zoom, while women convene periodicals on Fridays at 8 pm.

Ministry progress highlights

Our ministry has seen notable progress: Sunday service attendance has surged from 40 to 60 members weekly, and the community food bank has been fully operational, positively impacting society. Successful summer evangelism/outreach activities resulted in new souls brought to God and increased church membership. The children's department, particularly the Sunday school, has flourished, with a rise in attendance

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and an expansion of teaching staff from 2 to 5 teachers. Plans are underway to commence teen classes later in 2024, with committed workers ready to contribute.

Community engagement

In terms of community engagement, our endeavours have borne fruit:

Challenges and development projects

Despite these achievements, challenges persist. Our recent relocation to a smaller and less accessible venue underscores financial limitations. Yet, with faith in God's grace, we aspire to expand our food bank initiatives to reach more people in need and to broaden our outreach and evangelism efforts to cover greater territory for the glory of our Lord Jesus.

Directors

The following persons served as directors during the year:

Victor Monday Kadiri appointed 19/02/2023 Michael Soniran Ofure Melisa Erhahon appointed 19/02/2023

GOVERNANCE AND INTERNAL CONTROL

A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years. At 30 November 2023, the Board’s membership had reduced to one and two new members will be joining in the New Year.

We want to welcome Mr Victor Kadiri and Ms Erhahon to the board and thank them for accepting to serve. The Board meets three times a year to agree key policy decisions, set the strategy for the charity and oversee its performance. At present the Board has committee members who are responsible for the day-to-day activities of the charity. None of the committee members is being remunerated for being a committee member.

All Trustees receive the handbook for Trustees’ provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this the Charity follows the code of practice for governance produced by the Governance Hub. Company law requires the Trustees to prepare financial statements for each financial year, which comply with the Charities Act 1993 as amended.

5

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

They include:

Financial review

Funds which are not required for immediate use or which will be required for use at a future date must be placed on deposit or invested in accordance with charity regulations until needed. The Trustees must comply with the requirements of The Charities Act 2011 relating to the keeping of financial records the audit or independent examination of the accounts and the preparation and transmission to the Commission of annual reports, returns and statements of account.

The Trustees must maintain proper records of:

6

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.

In preparing this financial statement, the trustees are required to

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 2011 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

DISCLOSURE OF INFORMATION TO EXAMINER

The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information.

EXAMINER

In line with the provision exemption in the Charities Act 2011 as amended, the charity appointed Mr Adekunle Fawunmi FCCA, FAIA, as their independent examiner.

Michael Soniran Chair of the Trustees Date: 20/04/2024

7

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

We report on the accounts of the Trust for the year ended 30 November 2023, which are set out on Pages 11 to 18.

We have examined the financial statements of the Redeemed Christian Church of God, Gloryland Connections (the charity) for the year ended 30 November, 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies, the financial reporting framework that has been applied in their preparation, its applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 - ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 43(2) of the Charities Act 2011 (the 1993 Act)) and that an independent examination is needed. It is our responsibility to:

8

Basis of independent examiner’s report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

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

Have not been met; or

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

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our examination of the accounts has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for the independent examination work, or for the opinions we have formed.

Signed April 20, 2024

Adekunlefawunmi

Adekunle Fawunmi Fabek Associates and Co Ltd Certified Chartered Accountants 32 Dewey Road Dagenham Essex RM10 8AR

9

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023

N otes
Income & Endowments from:
Donations & Legacies
3
Investments
4
Total income
A
Expenditure on:
Charitable activities
5
Total expenditure
B
N et income for the year
Reconciliation of funds : -
Total funds brought forward
Total funds carried forward		 49,370
-
21,201
-
70, 571
-
65,724
-
65, 724
-
4, 847
-
1,463
-
6, 310
-
Current year
U nres tricted
Funds
Current year
Res tricted
Funds
2023
2023
£
£		 49, 370
21, 201
70, 571
65, 724
65, 724
4, 847
1, 463
6, 310
Current year
Total
Funds
2023
£		 39,375
36,760
Prior Year
Total
Funds
2022
£
76, 135
75,351
75, 351
784
679
1, 463

All the prior year transactions were unrestricted items, and no further analysis is required

All activities derive from continuing operations

REDEEMED CHRISTIAN CHU RCH OF GOD GLORYLAN D CON N ECTION S - Res ources applied in the year ended 30 N ovember 2023 towards fixed as s ets for Charity us e:-

Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
N et res ources available to fund charitable activities		 2023
£
4,847
(2,165)
2, 682		 2022
£
784
-
784

10

Movements in revenue and capital funds for the year ended 30 N ovember 2023

Revenue accumulated funds

U nres tricted
Funds
Accumulated funds brought forward
2023
£
1,463
Recognised gains and losses before
4,847
transfers
6, 310
Clos ing revenue funds
6, 310
Summary of funds
U nres tricted
and
Des ig nated funds
2023
£
Revenue accumulated funds
6,310		 U nres tricted
Funds
Accumulated funds brought forward
2023
£
1,463
Recognised gains and losses before
4,847
transfers
6, 310
Clos ing revenue funds
6, 310
Summary of funds
U nres tricted
and
Des ig nated funds
2023
£
Revenue accumulated funds
6,310		 U nres tricted
Funds
2023
£
1,463
4,847
6, 310		 Res tricted
Funds
2023
£
-
-
-
-
Res tricted
Funds
2023
£		 Total
Funds
2023
£
1,463
4,847
6, 310
6, 310
Total
Funds
2023
£		 Las t year
Total Funds
2022
£
679
784
1, 463
6, 310
U nres tricted
and
Des ig nated funds
2023
£
6,310		 1, 463
Las t Year
Total Funds
2022
£
6,310 - 6, 310 1,463

REDEEMED CHRISTIAN CHU RCH OF GOD GLORYLAN D CON N ECTION S Income and Expenditure Account for the year ended 30 N ovember 2023 as required by the Companies Act 2006

Income
Income from operations
Investment income
Income from investments, other than interest receivable
Gros s income in the year before exceptional items
Gros s income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Realised losses on disposals of social investments which are programme related
Total expenditure in the year
N et income before tax in the financial year
Tax on surplus on ordinary activities
N et income after tax in the financial year
Retained s urplus for the financial year		 2023
£
49,370
21,201
70, 571
70, 571
64,301
673
750
-
65, 724
4, 847
-
4, 847
4, 847		 2022
£
39,375
36,760
76, 135
76, 135
74,491
240
620
-
75, 351
784
-
784
784

All activities derive from continuing operations

11

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

BALANCE SHEET

FOR THE YEAR ENDED 30 NOVEMBER, 2023

N otes 2023 2022
£ £
F ixed as s ets
Tangible assets 6 1,972 480
Current as s ets
Cash at bank and in hand - 983
Creditors : amounts falling due
within one year 7 (1,150) -
N et current as s ets 4,338 983
The total net as s ets of the
charity 6, 310 1, 463
The total net as s ets of the charity are funded by the funds of the charity, as follows : -
Res tricted funds
- -
U nres tricted Funds
Unrestricted Revenue Funds 8 6,310 1,463
6,310 1,463
Total charity funds 6, 310 1, 463

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

M ichael Soniran Trustee

Approved by the board of trustees

12

Date.. 2010412024 13

REDEEMED CHRISTIAN CHURCH OF GOD GLORYLAND CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

1. Accounting Policies

1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the charities SORP (FRS 102) - Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 and the Charities Act 2011.

The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Black and Minority Ethnic Community Partnership meet the definition of public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going Concern

There are no material uncertainties regarding the charity’s ability to continue. Therefore, the accounts are prepared on a going concern basis.

1.3 Income

All income is recognised once the Charity has entitlement to the income. It is probable that the income will be received and the amount of income can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

14

Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of asset’s use.

Expenditure on charitable activities in incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases: Freehold property - not depreciated Long term leasehold property - 100 years Fixtures and Fittings - 5 years Office Equipment - 7 years

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening or similar account.

15

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipated it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle obligation. Where the effect of the time is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.0 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3.0 Income from Donations and Legacies

Total donations and gifts from
individuals		 Current year Current year
U nrestricted
Funds
Restricted
Funds
2023
2023
£
£
49 ,370
-		 Current year Current year
U nrestricted
Funds
Restricted
Funds
2023
2023
£
£
49 ,370
-		 Current year Prior Year
Total Funds
Total
Funds
2023
2022
£
£
49 ,370 - 49 ,370
39 ,375

16

4.0 Investment Income

Property Rental Income
Total investment income		 Current year Current year Current year
U nrestricted
Funds
2023
£
Restricted
Total Funds
Funds
2023
2023
£
£
21,201
-
21 ,201
21 ,201
-
21 ,201		 Prior Year

Total
Funds
2022
£
36,760
36 ,760

5. Expenditure on Charitable Activities

examination or audit fees
Current Year
Premises Expenses
Rent payable under operating leases
Light heat and power
Other Premises Costs
Rates
Administrative overheads
Stationery and printing
Subscriptions to zoom
Membership subscriptions
Equipment expenses
Equipment expensed
Admin costs
Equipment,repairs,expenses and maintenance
Licences & Permits
Professional fees paid to advisors other than the
Accountancy fees other than
Legal and professional spare (1)
Financial costs
Depreciation & Amortisation in total for
Support costs before reallocation
Total support costs - Current Year		 U nrestricted
Restricted
Funds
Funds
2023
2023
£
£
54,580
-
2,547
-
-
-
1,663
-
-
-
-
-
82
-
-
-
134
-
632
-
-
-
-
-
auditor or examiner
400
-
165
-
673
-		 Total Funds Total Fund
2023
2022
£
£
54 ,580
68 ,000
2 ,547
-
-
406
1 ,663
-
-
88
-
144
82
650
-
68
134
50
632
-
-
450
-
35
400
-
165
-
673
240
60 ,876
-		 60 ,876
70 ,131
60 ,876
-		 60 ,876
70 ,131

17

Other Expenditure - Governance costs

Current Year
Independent Examiner's fees
Total Governance costs
All the expenditure in the prior year was unrestricted.
Total Charitable expenditure
Current Year
Total direct spending
Total support costs
Total Governance costs
Total charitable expenditure		 Current year Current year
U nrestricted
Restricted
Funds
2023
Funds
2023
£
£
750
-		 Current year Prior Year
Total Funds Total Fund
2023
2022
£
£
750
620
750
-		 750
620
Current year Current year
U nrestricted
Restricted
Funds
2023
Funds
2023
£
£
4,098
-
60,876
-
750
-		 Current year Prior Year
Total Funds Total Fund
2023
2022
£
£
4 ,098
4 ,600
60 ,876
70 ,131
750
620
65 ,724
-		 65 ,724
75 ,351

6. Tangible Assets

Tang ible fixed as s ets

Current Year
Cost
At 1 December 2022
Additions
At 30 November 2023
Depreciation
At 1 December 2022
Charge for the year
At 30 November 2023
Net book value
At 30 November 2023
At 30 November 2022		 Plant &
M achinery
Total
£
£
1,200
1,200
2,165
2,165
3 ,365
3 ,365
720
720
673
673
1 ,393
1 ,393
1 ,972
1 ,972
480
480

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  1. Creditors falling due within one year
2023
2022
£
£
1,150
-
2023
2022
£
£		 2023
2022
£
£
Other creditors
8.
Analysis of funds
At 30 N ovember 2023
U
Tangible Fixed Assets
Current Assets
Current Liabilities
At 1 December 2022
U
Tangible Fixed Assets
Current Assets		 1,150
-
nres tricted Res tricted
Total
funds
funds
Funds
£
£
£
1,972
-
1, 972
5,488
-
5, 488
(1,150)
-
( 1, 150)
6, 310
-
6, 310
nres tricted Res tricted
funds
funds
£
£
Total
Funds
£
480
-
480
983
-
983
1, 463
-
1, 463
-
1, 463

  1. There is no Related Party transaction to be disclosed for the year ended November 30, 2022 and 2023.

  2. 10.There is no post balance sheet event to be disclosed for the year ended November 30, 2022 and 2023.

.

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