THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
Report and Financial Statements For the year ended 31 January 2026
1
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
MANAGEMENT ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2026
Contents Page
Legal and Administrative Information .................................................................................................... 2 Report of the Trustees .......................................................................................................................... 3-7 Independent Examiner's Report .............................................................................................................. 8 Statement of Financial Activities ............................................................................................................ 9 Balance sheet ........................................................................................................................................ 10 Notes forming part of the Financial statements ............................................................................... 11-14
LEGAL AND ADMINISTRATIVE INFORMATION
Officers and Professional advisers
TRUSTEES
OLADIPO SAMSON IDOWU VICTOR ALILE CLINTON OKECHUKWU OHALE BASSEY IDONGESIT EKANEM OLUWAKOREDE FLORENCE ADEBOWALE
REGISTERED OFFICE
109B MARTON ROAD MIDDLESBOROUGH TS1 2DU
EXAMINER
AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS
CHARITY COMMISSION REGISTERED NUMBER
1194680
2
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2026
The Trustees, for the Charities Act 1993 as amended and Statement of Recommended Practice (SORP) 2005, submit their management account for the year ended 31 January 2026. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005 in preparing the annual report and financial statements of the Charity. The Charity is governed by a Memorandum and Articles of Association.
PRINCIPAL ACTIVITIES, AIMS AND ORGANISATION OF THE CHARITY
The Objects of the organisation are first to advance the Christian faith under the statement of beliefs for the benefit of the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
The main achievements of the organisation during the period were:
The Organisation continues to hold successful meetings throughout the year in which individuals are equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences during the year which individuals came from all around the community to attend. This has produced good results in reaching and helping members of the community. The charity continues to hold its services and conferences in its own building, the renovation of which continued during the year.
3
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 JANUARY 2026
PLANS FOR THE FUTURE
We plan to strengthen our youth and young children programme, empower them as future leaders, build a school to teach kids and help troubled teenagers, to continue the renovation of the church building, repay the mortgage on the church building in full within the next one to two years, increase awareness in the communities and give back to said communities via the awareness programmes.
INCOME GENERATION
The Charity generated £228,619.57 from offerings, tithes and contributions during the year. This includes both direct transfers into the charity’s accounts and cash donations. In addition, the Charity received £62,604.45 of Gift Aid from HMRC in respect of claim periods from 12 March 2021 to 2 December 2024, and £681.40 of bank interest. The main cost of the organisation is currently the renovation of the church building. During the year the Trustees set aside £107,010.55 in a savings account as a designated fund towards redemption of the Kingdom Bank mortgage (Note 11). The organisation is in a good position to manage its costs. The church supports its connected ministry in Ondo state, Nigeria, with regular donations.
RISKS
The factors that may affect the Charity’s delivery of its objectives include:
- a) Reputation of Charity and the relationship with the community.
b) Ability to generate enough funds to complete the identified projects for the charity.
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH produce an annual plan for delivery against its objectives. This plan sets out the targets for the year and is then broken down into a work plan. THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH has developed a strategy, which specifies how it will deliver the key programmes of work. The strategy also identifies targets and performance indicators.
RESERVES POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. In addition, the Trustees have designated £107,010.55 of unrestricted funds for redemption of the church mortgage. The charity will seek to maintain this level throughout the year.
4
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 JANUARY 2026
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. On 31 January 2026, the Board had a membership of five (5) people.
The Board meets twice a year to agree on 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.
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.
The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:
– A strategic plan and annual budget approved by the Trustees;
– regular consideration by the Trustees of financial results, in particular, variance from the budget; and
– Delegation of authority and segregation of duties.
5
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 JANUARY 2026
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 following applicable laws and regulations.
Company law requires the trustees to prepare financial statements for each financial year following 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 these financial statements, the trustees are required to:
– select suitable accounting policies and then apply them consistently;
– make judgements and estimates that are reasonable and prudent;
– state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
– Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in its activities.
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 1993 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.
6
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
REPORT OF THE TRUSTEES (Continued)
YEAR ENDED 31 JANUARY 2026
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 1993, as amended, the trust decided to appoint an examiner, which will review the accounts for the year ended 31 January 2026. Following this appointment, AACSL Accountants Limited acted as an examiner.
Approved by the Board of Trustees and signed on behalf of the Board by:
K.D
PASTOR KEN DURU on behalf of the trust.
7
Independent Examiner's Report to the Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
We report on the accounts of the Trust for the year ended 31 January 2026, which are set out on pages 9 to 14.
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 1993 (the 1993 Act)) and that an independent examination is needed. It is our responsibility to:
– examine the accounts (under section 43(3)(a) of the 1993 Act);
– to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
– To state whether matters have come to our attention.
Basis of independent examiner's report
Our examination was carried out following 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:
(1) Which gives us reasonable cause to believe that in any material respect the requirements,
– to keep accounting records following section 41 of the 1993 Act; and
– To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act as amended.
Have not been met; or
(2) To which, in our opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
AACSL Accountants Limited 1st Floor North Westgate House Harlow
Essex CM20 1YS. 11[th] August 2026
8
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31ST JANUARY 2026
| Note INCOMING RESOURCES FROM CHARITABLE ACTIVITIES General Donations 2 Other income - Gift Aid received 3 Other income - Bank interest received 3 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities 4 Governance 5 TOTAL RESOURCES EXPENDED Net income/(outgoing) resources Prior year adjustment (Note 10) Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Un-restricted Restricted Total 2026 Total 2025 £ £ £ £ 228,619.57 - 228,619.57 294,896.00 62,604.45 - 62,604.45 - 681.40 - 681.40 - |
|---|---|
| 291,905.42 - 291,905.42 294,896.00 |
|
| 180,941.81 - 180,941.81 290,498.18 6,172.86 - 6,172.86 250.00 |
|
| 187,114.67 - 187,114.67 290,748.18 |
|
| 104,790.75 - 104,790.75 4,147.82 4,000.15 - 4,000.15 199,787.15 - 199,787.15 195,639.00 |
|
| 308,578.05 - 308,578.05 199,786.82 |
All incoming resources are derived from continuing activities. The Charity has no recognised gains or losses other than those recognised in the statement of financial activities above.
9
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
BALANCE SHEET
AS AT 31ST JANUARY 2026
| Note FIXED ASSETS Tangible Assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand 8 Total current assets Current liabilities: creditors due within one year Total assets less current liabilities Creditors: amounts falling due after one year 9 NET ASSETS FINANCED BY: Unrestricted funds (including designated fund - Note 11) Restricted funds TOTAL FUNDS |
2026 2025 £ £ 358,020.82 358,020.82 3,461.43 5,361.43 111,743.87 6,404.90 |
|---|---|
| 115,205.30 11,766.33 |
|
| - - |
|
| 473,226.12 369,787.15 |
|
| (164,648.07) (170,000.00) |
|
| 308,578.05 199,787.15 |
|
| 308,578.05 199,787.15 - - |
|
| 308,578.05 199,787.15 |
For the year ended 31 January 2026, the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006. The members have not required the company to obtain an audit per section 476 of the Companies Act 2006. The trustees acknowledge their responsibility for complying with the requirements of the Companies Act 2006 for accounting records and the preparation of accounts.
The Accounts were approved by the Board of Trustees and signed on behalf of the Board by:
PASTOR KEN DURU on behalf of the trust.
11[th] August 2026 2026
10
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2026
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared following the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities", the Charities Act and applicable UK accounting standards. The accounts consolidate the Charity’s current account and its Business Premium savings account.
Cash flow statement
Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement because the charity is below the threshold specified in Appendix 2 of the FRS 1.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes. Designated funds are unrestricted funds set aside by the Trustees for a particular purpose; the designated mortgage redemption fund is described in Note 11. Restricted funds are funds which are to be used following specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. Investment income and gains are allocated to the appropriate fund.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gift Aid is recognised when received. Bank interest is recognised when credited by the bank.
Resources expended
Expenditure has been classified under headings that aggregate all costs related to the category. Loan interest and finance costs are recognised on a paid basis. Repairs, maintenance and renovation costs are charged to the SOFA as incurred; no expenditure has been capitalised in the year and no depreciation has been charged on tangible fixed assets. Governance costs are those incurred in connection with the governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements.
11
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
NOTES TO THE ACCOUNTS (Continued)
FOR THE YEAR ENDED 31 JANUARY 2026
Note 2. Incoming Resources – General Donations
| Donations – current account Donations – savings account (direct) Total |
2026 2025 £ £ 224,190.57 294,896.00 4,429.00 - |
|---|---|
| 228,619.57 294,896.00 |
Note 3. Incoming Resources – Other Income
| Note 3. Incoming Resources – Other Income | |
|---|---|
| Gift Aid received (HMRC) – claim period 12/03/2021 to 02/12/2024 Bank interest received (gross) Total |
2026 2025 £ £ 62,604.45 - 681.40 - |
| 63,285.85 - |
Note 4. Resources Expended – Charitable Activities
| Donations / charitable gifts given Bank charges Cleaning Utility Travel (incl. car, flights, hotel) Rent of church building Events & others (incl. food & refreshments, equipment) Professional fees Insurance Software subscription Equipment hire Head office remittance Honorarium Repairs, maintenance & renovations Stationery Welfare Loan interest & finance costs Property purchase Total |
2026 2025 £ £ 4,869.78 17,622.30 - - 180.00 779.10 5,612.16 5,133.67 20,009.22 24,557.11 - 8,600.00 38,334.18 84,833.62 3,770.33 10,236.14 1,926.74 787.64 882.51 563.35 264.00 44,745.52 4,574.80 1,501.37 7,017.00 8,722.00 78,322.98 66,743.89 1,515.28 1,857.47 4,917.00 13,815.00 8,745.83 - - - |
|---|---|
| 180,941.81 290,498.18 |
12
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
NOTES TO THE ACCOUNTS (Continued)
FOR THE YEAR ENDED 31 JANUARY 2026
Note 5. Resources Expended – Governance
| Accountancy Total Note 6. Tangible Assets – Freehold Property Cost brought forward Additions Depreciation Net book value at 31 January 2026 Note 7. Debtors Member loans brought forward Less: repayments received in the year Member loans carried forward Note 8. Cash at bank and in hand Current account (Barclays 20-25-29 23771938) Savings – mortgage redemption fund (Business Premium 20-25-29 33601935) Cash in hand Total |
2026 2025 £ £ 6,172.86 250.00 |
|---|---|
| 6,172.86 250.00 |
|
| 2026 2025 £ £ 358,020.82 - - 358,020.82 - - |
|
| 358,020.82 358,020.82 |
|
| 2026 2025 £ £ 5,361.43 14,840.00 (1,900.00) (9,478.57) |
|
| 3,461.43 5,361.43 |
|
| 2026 2025 £ £ 4,733.32 6,404.90 107,010.55 - - |
|
| 111,743.87 6,404.90 |
13
THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH
NOTES TO THE ACCOUNTS (Continued)
FOR THE YEAR ENDED 31 JANUARY 2026
Note 9. Creditors: amounts falling due after one year – Kingdom Bank mortgage
| Balance brought forward Advanced in the year Payments made in the year Interest element charged to expenditure (paid basis) Balance carried forward |
2026 2025 £ £ 170,000.00 - - 170,000.00 (12,747.78) - 7,395.85 - |
|---|---|
| 164,648.07 170,000.00 |
Note 10. Prior year adjustment
The Charity’s Business Premium savings account held £4,000.15 at 1 February 2025 which was not recognised in the accounts for the year ended 31 January 2025. Total funds brought forward have been increased by £4,000.15 accordingly. Funds brought forward are stated at the Balance Sheet figure previously reported (£199,787.15).
Note 11. Designated fund – mortgage redemption
Of the unrestricted funds, £107,010.55 held in the Business Premium savings account at 31 January 2026 has been designated by the Trustees for redemption of the Kingdom Bank mortgage, which the Trustees plan to repay in full within the next one to two years. Transfers into the fund during the year totalled £123,100, including £56,000 of the Gift Aid received from HMRC (which is unrestricted income).
Note 12. Movement in funds
| Total funds brought forward (as restated – Notes 10) Incoming resources Resources expended Total funds carried forward |
2026 2025 £ £ 203,787.30 195,639.00 291,905.42 294,896.00 (187,114.67) (290,748.18) |
|---|---|
| 308,578.05 199,787.15 |
Note 13. Trustees’ remuneration
The Trustees did not receive any remuneration during the year (2025: £nil).
Note 14. Taxation
As a charity, THE REDEEMED CHRISTIAN CHURCH OF GOD LIVING WATER PARISH MIDDLESBOROUGH is exempt from tax on income and gains falling within the applicable provisions of the Corporation Tax Act 2010 and the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Note 15. Control
The ultimate controlling party is the Board of Trustees.
14