THE REDEEMED CHRISTIAN CHURCH OF GOD FArrH CHAPEL BRIXTON Charity No: 1198848 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31ST DECEMBER 2023
THE REDEEMED CHRISTIAN CHURCH OF GOD FAITH CHAPEL BRXXTON CONTENTS OF THE FINANCIAL sTATEMEs FOR THE PERIOD ENDED 31st DECEMBER 2023 Charity No.. 1198848 coriTENTS PAGE Reference and administrative details Tbwstees POrt Independent E¥aminerfs report Statement of Nnancial Activities Balance shert Notes to the accounts io- li Page I
THE REDEEMED CHRIsfJAII CHURCH OF GOD FAMI CHAPEL BRzxf014 ORGANfsAnON'S INFORMATION FOR THE PERIOD ENDED 31ST DECEMBER 2023 Charity No: 1198848 Tru•tees Mr Isaac Ajibade Ms Ajibola Oyedele Mrs Comfort Awin-ola Akintoye Part¥h P•*tor Pastor Charles Fellx Prlndp•l Olfi¢e 21-22 Prague Place London SW8 SED Independent Examlner Akintayo Ojo FCCA Resource Management Consultants Ltd 46 Hollywood Way Erith DA8 2QE Bankers Barclays Bank I Churchill Place London E14 5HP Page 2
THE REDEEMED CHRISTIAN CHURCH OF GOD FAITH CHAPEL BRIxfoN TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 Chanty No: 1198848 The Trustees submit their report and financial statement for The Redeemed Christian Church of God-Faith Chapel 8rlxton for the period ended 31 December 2023. The trustees conflm that the trustees. report and financial statements comply wFth current statLrtory requirements and the ProviOn5 of the regulator5. srRucfuRE, GOVERNANCE AND MA14AGEMENT The Redeemed Christian Church of God - Faith Chapel Brixton has its own board of trustees of three members and manages the actSvltles of the church. The parish pastor oversees the church. ORGANISATIONAL sfRUCTURE AND DecrsIoN MAKING The tnJstees meets regularly to manage the affairs of the organisation. The parlsh pastor oversees the splrftu•l a¢t5vltles of the church. RELATED PARTY TRANSAcfioN RCCG Faith Chapel 8rixton is a parish of The Redeemed Christian Church of God with parishes all over the world. The parlsh's relatlonshlp wSth other parfshes Is governed by an 'Agreernent for Common purposes. through RCCG Central Office. IUSK MANAGEMENT The trustees have assessed the major rfsks to whlch the charlty Is exposed, In p•rtlcular those related to operations and flnances of the charity. and are satisfied that systems are In place to mltlgate OLtr exposures to major risk5. 06JEcfivES AND AcnvxTleS The pncIpal object is the advancement of Chrlstlan falth In accordance with the statement of beliefs of The Redeemed Christian Church of God, and the relief of poverty. To achieve its objectlves, the church adopted the folwIng strategies: Runnlng Sunday worship services, prayer meetings and mldweek bible study. and Supportlng other chadtles and chstIan events. Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD FAMI CHAPEL BRirfoN TRUSTEE'S REPORT FOR ThE PERIOD ENDED 31ST DECEMBER 2023 arity No: 1198848 PUBLIC BENEFtrs The Church's Sunday and mid-week services are open to the general public to build on thelr Chrlstlan faith. Apart Irom fjts Church actlvltles. the charlty was Involved In the followlng public benefit effort5- Weekly vlsltatlon to Care Homes for encouragement. companlonshlp and sharfng of the Gospel. Holding Outo¢he$ in areas of interest to our ¢ommunity. In the year we Sha the joy of and wlth our comrnunlty by oryanlsing a Caml servlce, we also celebrated the Mothers. day In our communlty. We gave glftsi provlde support and share the message of goodwlll from the gospel In the communlty. Our efforts are gead towards supportlng the prngrammes of our kxal community. promoting coheslon In our community. and Impa¢tln9 the Ilves of the young people and the elderly, GRANT MAKING POLICY The church 5UPPQrts visiting minlsters of the gospel both within and outslde the United kingdom. Support Is also given to RCCG Central Office, Worfd Evangelism Mission, Festival tsf kn'fe and other RCCG programmes. The Church supports other charities and missionary that shares its objects In the advancement of Chrtstlan faith and rdief of poverty. The church glves occaslonal welfare grants to congregational members who are in need. VOLUNTEERS The ¢hur¢h is grateful for the unstintlng efforts of its volunteers who Jre Involved In provldlng seryices lor the Chaty. It Is estimated that over 200 hours was provlded by volunteers durlng the year. If this is conservatively valLbed at £8 per hour, the volunteers effort wlll •mount to over £1,600. REVIEW OF ACTIVITIES The chur¢h ¢ontinues to enjoy tremendous growth in its physlul and spiritu•l life durin9 the ye•r, and in advancement of Christlan faith in accordance wlth the doctrfnes set out In Its ststement of falth contained In our govemin9 (Ment. REseRVES POUCY The tnjstee's policy is to have unrestricted and uncomm¥tted funds (free reserves) to cover 3 to 6 months of re50vrces expended. They feel that this would enable the current activities to continue If there is any signiflcant drop in hjnding. It would obviously be necessary the to conslder how the ftindlng would be replaced or activltles changed. Page 4
THE REDEEMED CHRZSTIAN CHURCH OF GOD FAITH CHAPEL BRIXTOII TRUSfEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 Chanty No: 1198848 PRINCIPAL FUNDING Funding has been provided mainly via tithes and offerlngs by church members and through donations. Pledges are also taken for specffi¢ projerts. ACHIEVEMENT AND PERFORMANCE The churth was linally registered a5 a UK tharlty on 0510512022. Th1$ has been one major objettive of the Board of Twstees. Thls achlevement was made poSsIb as a resu of the accurate record keeplng of all flnanclal transactlons the church had carried out In prevityjs years. The church has contlnued to stay ftnanclally buoyant while at the same tlme fumlllng all Its nancial obligations with the approval of the 8oard of Trustees. Church membershlp has been steady slnce the end of the COVID- 19 pandemlc by the UK Govemment In 1910712021. posr IMPAcf op COVlD-19 PANDEMIC The church has adapted well to the new wlities brought about by COVID 19 pandemlc In ensurlng that online ¢hurch continues along side physcial church meetings. The Income of the church has plcked Ltp and attendance both onllne and physclal rlsen. Covid 19 pandemic had inadvertently encouraged the church to invest time and money In online meeting platform. FUTURE DEVELOPMENTS The charlty contlnues to explore various ways of spreading the gospel of Chrfst In an effectlve manner. The charity Is also looking to grow In membership and to develop Its member5 to make life-changing impart in the community. Other plans are as follows.. (l) A wider audience and investment in online starning, semon uplood5 in social rnedia (e.g. YouTube, Facebook) unable to attend the physlcal church. (11) Increase number ol partnerships with local UK charltles. (iiil Seminars, workshops and traSning that will ¢ut across all sphere5 of living such as employabillty, education, health. finances. mamages etc. will be organized for the local community as target audience (5v) Scheduled vlsitatlon of the homele, hospltsls, nursin9 home5. and inmates In prlsons lvl ROgration the UK HMRC hid Page 5
THE REDEEMED CHRisfIAN CHiIRCH OF GOD FAMI CHAPEL BRIXTQN TRusfEE'S REPORT FOR THE PERJOD ENDED 31 DECEMBER 2023 Chjrty No.. 1198848 STATEMENT OF TRusfEES' RESPONSIBXLrrIES The trustees are responsible for prepanng the annual rèport and finanu•l statements In accordance with applicable laws and regulatsons. Chanty law requires the tnst¢es to prepare financial stemertts for each fin•naJl year. Undèr that law, the trustees have eletted to prepare the financial statements In accordance wrth the United Kin9tJcm Generally Acceptable Accounbrrfj Practr'ce (Unrted Kingdom N£¢ountiw Standards and applicable lawl. The financial strteMtr are required to give a true and fJir view of the srate of affairs of the chanty and of the surplus or deficit of the ch4rFty fw that n0d. In prepanng the financial ststame)ts. the trustes are required to.. Selert suitable accounting ptslioes and apply them eonsistenly., - Make Judoement and estimJtes that lire réasonable and prudent; Prepare rhe financial statements on * goir4 corKem ba5 unless it is Inapprvpriète ¢0 presume that thé company will cortinue in op•rJts'on. The trustee5 recognise their reSpolbilIty.es to keep proper Jccounthng records that disdose with reasonable accur•cy at any knme the financial positim of the Charity and enable them to ersure Mrl Chair ac Ajibède Ms AJFbola Oyedele Pa9e 6
THE REDEEMED CHRisfIAN CHURCH OF GOD FAITh CHAPEL BRIxfoN INDEPENDENT EXAMINERS REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 ljbanty No: 1198848 TO THE TRLISTEES OF THE REDEEMED CHRISW4N CHURCH OF GOD- FAtrH CMAPEL ORIXTON I report on the accounts of the charity for the period ended 31 December 2023 whlch Is set on pages 8 - 12 RESPEcfivE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER The trustees are responble for the preparation of the accounts. The trustees conslder that an audit is not required for the period under the relevant section of the Charities Art 2011 and that an independent examination is needed. It Is my responslblllty to.. examine the èccounts under sectOon145 of Charfjtoes Act 2011: follow the procedures laid down in the general Dirertions given by the Charfty Commlssion (under section 14515}{bl of the 2011 Act.. and state whether partlcular matters have come to my atterhtyon. 8ASIS OF MY EXAMINATION My examlnatlon was carrled ¢)ut In accordance wlth the General Dlrectlons glven by the Charlty Commission. An examination includes a review of the accounting records kept by the chartty and a comparfson of the accounts presented wlth those records. It also In¢ludes conslderatlon of any unusual Items or dlsclosures In the account. and seeking explanatlons from you as members board of trustees concernlng any such matters. The procedures undertaken do not provlde all the evldence that would be required in an audit, and consequently no opinlon is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statements below. EXAMINER'S STATEMENT In connection wlth my examination. no matter has come to my attentlon: (11 whlch glves me reasonable cause to bdieve that In any materfal respect the trustees have have not met the requirements to ensure that- proper accounting record5 ore not kept in accordance with statutory requlrement; and accounts are prepared whlch agree wSth the accounting records and ctsmply with the accounting requ5rements of ChatIeS Act 2011. or {2) to which, in my oplnlon, attention should be drawn in order to enable a proper under- standing of the accounts to be reached. 2024 46 Hollywood Way. Ertth. DA8 2QE Page 7
ThE REDEEMED CMRisfiAN CHURCH OF GOD FAITH CHAPEL BRIXTOM STATEMENT OF FINANCIAL AcfivmES FOR THE PEFUOD ENDED 31 DECEMBER 2023 anty No: 1198848 ToL•I Pund• Notes 202> 3023 2023 21122 Incamlng ruour¢e• Donations & incoming resources Total Incomlng resourcos 28.102 28.102 28,102 28,102 24,087 R•sourc•s •xp•nded Cost of activitles In furtherance of ch•rlty'$ objects Management and govemance cost Total r•xourc•s •xp•nd•d 19,348 6.200 25,548 19,348 6,200 25,548 15,927 1,400 17,327 3&4 Net(outgolng)/incoming resources for the year 2.554 2,554 6.760 Total funds brought forward 42,623 42,623 Total fLtnds carrfjed forward 45,177 45,177 42,623 Page 8
FATfH CIAPEL 8IIIXTON &4LANCE SHEET AS AT 31 DECEMBER 2023 Charity No.. 1198848 Totsi Tota Funds Funds Notes ?o?J ?0?3 2023 ?? Fixed Assets Tangibl fixed assets 1,899 964 Current a•#tts Debtors (Prepaid Exp) Cash at bank and In hand 44,878 44.878 44.878 44.878 42,459 42.459 Leg4: Curr¢nt Ll•bllltle&' Cr•ditors'. Amount f•lliry due wtthrn One year Net as•ets 1.600 45,177 1,600 45.177 800 41623 Financed BY: Ch•rity fund# General - wstricted General - unrestrirted 45,177 45,177 4S.177 45.177 42.623 42,623 Thè ac£ount$ have been prepored In accord) the of stèMent of Recornftn Practke" Accountiw and ReLxJrtlrvJ by (leS (SORPI Iswed March 20C as fraed fw tharltles Approved by the trustees on 05 IDg(102f and sign•d on their behalf bv: Mr fsaa Chair Ajibade Ms Ajibtsla Oyedele retary Page 9
THE REDEEMED CHRISTIAII CHURCH OF GOD FAITH CHAPEL BiuxfoN NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Charity No.. 1198848 I. ACCoUNG POUCIES {l.11 Basis of prtparatitsn of financial statements These accounts have been prepared under the historlcal cost conventlon and In accordance with the Financial Reporting Standard for Smaller Entits'es (effective April 20081 .The financial statements have been prepared wlth Statement of Recommended Prartice (SORPI, 'A¢counting and Reporting by Charitie5 published in March 2005 and appllcable accounting standards. (1.2) Incoming resources All Incomlng resourcès are Included in the staternent of financlal octsvities when the charity Is legally entltled to the Income and the amount can be reasonably quantlfled wlth reasonable ccuracy. 11.31 Resources e¥pende¢J All expendltures are accounted for on an accru•l basis. M•nagement and governance costs are cost Incurred In connection with administration and compliance with statutory reqU1ment 11.41 Flxed assets comprises of musical equipment. proJertors cost and a mini van. Depreciatlon are charged at rates Ilsted below to write off the cost of the assets over their useful lives. Church Equipment 20% straight line Furniture, fixtures & flttln9S IO% reducing balance Unrestrirted Funds 2023 Restricted Funds 3023 Total Funds 302> Total Funds 2022 2. DONATtONS, LEGACIES AND SIMILAR INCOMING RESOURCES thes Main Offering Thanksglvlng Happy Church (Rental Income) Others 16.528 4,179 1,545 5,850 16,528 4,179 1,545 5,850 17.236 4,930 1.758 163 28,102 Page 10
THE REDEEMED CHRIsfiAN CHURCH OF GOD FAITH CHAPEL BRIKfoN NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Charity No: 1198848 Unrestricted Restricted Funds Funds 2023 2023 Total Unrestricted Funds FuThJs 2023 2022 3. COST OF ACTIvrrIES TO FLIRThER CHARITYS OBJEcrs Hall hire, rent & rates Telephone / Intemet Computer Con5umm•bles Utillties Repalrs and Malntenance Travelllng Ordained Mlnisters Conference Outreach / Evaftgellsm Administration expenses Oepreclatlon 12,975 629 73 12.975 629 73 2.544 1,565 48 40S 605 iii 392 11.917 524 2,743 285 1.565 48 405 605 iii 392 88 370 15,927 19,348 19,348 4. MANAGEMENT AND GOVERNANCE COSTS Unwtricted Restricted Funds Funds 31-Dec 2023 31-De 2022 Accountancy fees Pastor'5 Allowance 800 5,400 6.20 800 S,400 6,200 1,400 1,400 31-Dec 2023 31-Dec 2022 5. CASH BALANCES Total cash balances held in èll cUent accounts. 44,878 44,878 42.4S9 42,459 6. DEBTORS 31-Dec 2023 31-Dec 2022 Prepayment Page 11
THE REDEEMED CHRIsfzAPI CHURCH OF GOD FAITH CHAPEL BRIxroN NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 (harity No: 1198848 7. TANGIBLE FIXED ASSETS Church eouipment Fittings & Fixtu Total 31-Oec 2023 Total 31-Dec 2022 Co*t At l January 2023 Additions At 31 December 2023 Deprecl•tlon At l January 2023 Charge for the year At 31 December 2023 1,461 1.237 2,698 1,190 89 1.279 2,651 1,326 2,651 1.200 313 1.513 487 79 566 1.687 392 1,687 1,687 N•t book valu• At 31 December 2023 1,186 713 1.899 964 8. CREDITORS 31-Dec 2023 31.Dec 2022 Accrued Expenses 1,600 1,600 800 800 9. INCOMING RESOURCESI(RESOURCES EXPENDED) This is stated after charging 31-Dec 2023 31-Dec 2022 Depreciation of tangible a55ets owned by the charity Accnjed Expenses 392 800 370 800 10. TRUSTEES RENUMEKATION 31-Dec 2023 NIL NIL 31-Dec 2022 NIL NIL Durfng the year. no Trustee recelved any remunerntion Durfng the year. no Trustee received any benefits in kind Page 12