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2024-12-31-accounts

Charity number: 1193620 Company number: 11726788

The Redeemed Christian Church of God Fruitful Tabernacle Canvey Island

TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND

Reports and Accounts

CONTENTS
Charity Information 1
Trustees Annual Report 2-4
Accountant's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to Accounts 8-10

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND

Charity Information:

General Overseer

Pastor E. A. Adeboye

Directors/Trustees

Mr Abimbola Lawrence - Director/ Trustee Ms Rafiat Bisola Olufemi - Director/ Trustee Ms Margaret Folu Odukoya- Director

Minister In Charge

Pastor Margaret Folu Odukoya

Charity Registration No:

1193620

Company Registration No:

11726788

Principal Location:

35-37 Eastern Esplande Canvey Island SS8 7DN

Bankers:

Barclays

Independent Examiner:

Toda Consult 19 York Road Northfleet Kent DA11 9PU

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of GodFruitful Tabernacle Canvey Island (the church) for the year ended 31 December 2024. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.

Structure, governance and management

a. CONSTITUTION

The church was constituted under a company limited by guarantee under a memorandum and article of association incorporated 14 December 2018, and was registered on 22 February 2021 as a charity in England and Wales with charity number 11726788

b. METHOD OF APPOINTMENT OR ELECTION OF DIRECTORS/TRUSTEES

Directors/ Trustees are elected and co-opted under the terms of the Articles of Association

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the directors/ trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees. Mr Abidemi Olufemi Osindero resigned during the year ended 31 December 2024. The charity is currently in the process of recruiting a new trustee to the Board.

e. RELATED PARTY RELATIONSHIPS

RCCG Fruitful Tabernacle Canvey Island is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.

f. RISK MANAGEMENT

The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.

Objectives and Activities

a. POLICIES AND OBJECTIVES

The objects of the Charity are:

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

*support for other charities and Christian events.

Page 2

C. ACTIVITIES FOR ACHIEVING OBJECTIVES

*Community Outreach Events

*Confrences and events

*Welfare support to members and general public, and

*Various missionary activities

The Charity was involved in the following public benefit efforts:

d. GRANT MAKING POLICIES

Under the Common Purposes Agreement (see above), RCCG-Fruitful Tabernacle Canvey Island has agreed to make contributions to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.

e. VOLUNTEERS

The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 2000 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteers' efforts amounts to over £20,000.00.

Achievements and performance

a. REVIEW OF ACTIVITIES

We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in the article.

b. INVESTMENT POLICY AND PERFORMANCE

The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

Financial review

a. RESERVES POLICY

Reserves Policy

The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.

b. PRINCIPAL FUNDING

This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.

Plans for the future

a. FUTURE DEVELOPMENTS

The church 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.

Page 3

Trustees' Responsibilities in Relation to the Financial Statements

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

The Charities Act 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 surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:

a) Select suitable accounting policies and apply them consistently;

b) Make judgements and estimates that are reasonable and prudent;

c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.

d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the Board of Trustees and signed on their behalf by:

Signature: Rafiat Bisola Olufemi

Name: Ms Rafiat Bisola Olufemi

Date: 31/10/2025

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RCCG - FRUITFUL TABERNACLE CANVEY ISLAND

I report on the accounts of the Trust for the period ended 31 December 2024, which are set out on pages 6 to 10.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My 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 I do not express an audit opinion on the view given by the Accounts.

INDEPENDENT EXAMINER'S STATEMENT

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

  1. Which gives me reasonable cause to believe that any material respect the requirements:

  2. to keep accounting records in accordance with section 41 of the Act, and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.

Have not been met: or

  1. To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.

Oludare Gabriel Agbola

31 Oct. 2025 Toda Consult 19 York Road Northfleet Kent DA11 9PU

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND

Statement of Financial Activities for the year ended 31 December 2024

Notes
Incoming Resources
Incoming resources from generated funds:
Voluntary income: donations
2
Community Project grant
3
Total Incoming Resources
Resources Expended
Charitable expenditure
Grants payable - institutional
4
Community project expenses
5
Costs of activities in furtherance of project activities
6
Management and governance costs:
7
Total Resources expended
Net Incoming/(Outgoing) Resources for the year
Total funds at 1 December 2024
Transfer between funds
Total funds at 31 December 2024
8		 2024
2024
2024
2023
Unrestricted
Restricted
Total
Total
£
£
£
£
80,834
-
80,834
77,273
60,172
-
60,172
80,230
141,006
-
141,006
157,503
5,500
-
5,500
4,750
63,463
-
63,463
73,561
82,583
-
82,583
74,427
3,853
-
3,853
3,645
155,399
-
155,399
156,383
(14,393)
0
(14,393)
1,120
88,199
-
88,199
87,079
-
-
-
-
73,806
-
73,806
88,199

All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND Balance sheet as at 31 December 2024

Notes
FIXED ASSETS
Tangible Fixed Assets
10
CURRENT ASSETS
Debtors
11
Cash in Hand/ Bank
CREDITORS:
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:
Amount falling due more than a year
13
NET ASSETS
ACCUMULATED FUNDS
Restricted
15
Unrestricted
14
TOTAL FUNDS
Amount falling due within a year		 £
45,000
22,913

The accounts have been prepared in accordance with the special provision of Statement of Recommended practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.

Approved by the Trustees and Signed on their behalf:

Name: Rafiat Bisola Olufemi

Signature: Ms Rafiat Bisola Olufemi

Date: 31/10/2025

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD FRUITFUL TABERNACLE CANVEY ISLAND Notes to the financial statements for the period ended 31 December 2024

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

The accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards. They follow best practice as set out in the statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.

1.2 Income and Expenditure

Income and expenditure are accounted for on accrual basis

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost 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 accounts.

Unrestricted funds are incoming resources received for the objects of the charity without further specific purpose and are available as general funds.

2. Voluntary Income: Donations
Tithes & Offerings
Donation received
Gift aid
Interest
3. Grants received
Project Grants
4. Grants payable - institutions
Word Evangelical Mission (WEM)
RCCG Central office
RCCG Camp Ground
Other RCCG donations
Others mission activities
5. Grant expenses
Project volunteers expenses
Skills empowerment and training expenses
Other project expenses		 Unrestricted Fund
Restricted
Fund
Total Fund
2024
2024
2024
£
£
£
80,665
-
80,665
-
-
-
-
-
-
169
169
80,834
-
80,834
£
£
£
60,172
-
60,172
60,172
-
60,172
£
£
£
3,250
-
3,250
650
-
650
500
-
500
100
-
100
1,000
-
1,000
5,500
-
5,500
£
£
£
36,663
-
36,663
17,666
17,666
9,134
9,134
63,463
-
63,463		 Total Fund
2023
£
73,046
-
4,139
88
77,273
£
80,230
80,230
£
3,000
600
-
-
1,150
4,750
£
39,996
22,346
11,218
73,561

Page 8

6. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS

This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.

Visiting Speakers' Expenses
Thanksgiving expenses
Welfare expenses
Project running expenses
Charity events
Youth and Children Dept
Events, retreat etc
Sunday School
Rent & Rates
Communiation expenses
Publicity and Media
Admin and Travelling Expenses
Printing, Postage & Stationery
Insurance
Music expenses
Premises repairs and maintenance		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
£
£
£
3,000
-
3,000
5,365
5,365
14,070
-
14,070
19,531
-
19,531
5,414
-
5,414
1,994
-
1,994
5,366
5,366
78
-
78
12,876
-
12,876
1,930
-
1,930
2,330
-
2,330
5,256
-
5,256
1,615
-
1,615
688
-
688
820
-
820
2,250
-
2,250
82,583
-
82,583		 Total
Funds
2023
£
1,300
2,503
8,132
27,277
7,838
1,494
2,789
429
13,450
1,627
1,940
1,047
865
227
3,328
180
74,427

7. GOVERNANCE COSTS

Legal & Professional Fees
Depreciation
7.1 NET MOVEMENT IN FUNDS FOR THE YEAR
The net movement in funds for the year is stated
after charging:
Legal & Professional Fees
Bank Charges & Interest		 Restricted
Fund
Total Fund
2024
2024
2024
£
£
£
2,340
-
2,340
1,513
-
1,513
3,853
-
3,853
2024
£
2,340
-
2,340		 Total Fund
2023
£
1,800
1,845
3,853
-		 3,645
2023
£
1,800
-
1,800

8. DEPRECIATION

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Van & office equipment
9. MOVEMENT IN FUNDS
At 1 January
Surplus/(Deficit) for the year
At 31 December		 18% - reducing balance
Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
£
£
£
88,199
-
88,199
(14,393)
-
(14,393)
73,806
-
73,806		 Total
Funds
2023
£
87,079
1,120
88,199

Page 9

10. FIXED ASSETS

Cost
At 1 Jan 2024
Additions
At 31 Dec 2024
Depreciation
At 1 Jan 2024
Charge for the year
At 31 Dec 2024
Net Book Value
At 31 December 2024
At 31 December 2023
11. DEBTORS
Loan to Charity
Loan to member
12. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals
Others
13. CREDITORS:AMOUNTS FALLING DUE AFTER ONE YEAR
Loan		 Computer
equipment
Music
Equipment
£
£
4,019
11,848
-
-		 Total
£
15,867
-
4,019
11,848		 15,867
1,317
6,145
486
1,027		 7,462
1,513
1,803
7,172		 8,975
2,216
4,676		 6,892
2,702
5,703		 8,405
2024
£
45,000
-
45,000
2024
£
1,000
1,000
2024
£
-
-		 2023
£
45,000
5,000
50,000
2023
£
1,000
1,000
2023
£
-
-

14. UNRESTRICTED FUNDS

These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.

15. RESTRICTED FUNDS

Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria are identified to the fund.

Page 10