THE REDEEMED CHRISTIAN CHURCH OF GOD FAITH CHAPEL BRIXTON Charity No: 1198848 TRUSTEES REPORT AND FINANCIAL sfATEMENTS FOR THe PERIOD ENDING 31ST DECEMBER 2024
THE REDEEMED CHRIsfxAN CHURCH OF GOD FAITH CHAPEL bRfxTON CoNTEs OF THE FtNANcfAL STATEMENTS FOR THE PEREOD ENDED 31ST DECEMBER 2024 Charoty No: 1198848 CONTENTS PAGE Reference and administrative details Trustees report Independent Examlnerfs report statement of Flnanclal Artlvltles Balance sheet Notes to the accounts 10-11 Page I
THE REDeeMED CHRISTIAN CHURCH OF GOD FAITH CHAPEL BRIXTON ORGANJSATION'S INFORMATION FOR THE PERIOD ENDED 31ST DECEMBER 2024 Charity No: 1198848 Truste Mr Isaac Ajibade Ms Ajibola Oyedele Mrs Comfort Awirb-ola Aklntoye Parlsh Pastor Pastor Charfes Felix Prlnclpal Offle• 2 1-22 Prague Place London SW8 SED Indep•nd•nt Ex•mln•r Aklntayo Ojo FCC4 Resource Management Consultants Ltd 46 Hollywood Way Erlth DA8 2QE B•nktr• Barclays Bank I Churchill Place London E14 5HP Page 2
THE REDEEMED CHRIsfIAN CHURCH OF GOD FAITH CHAPEL BRIxfoN TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2024 Charity No: 1198848 The Trustees submit their report and financial statement for The Redeemed Christian Church of God-Faith Chapel 8rixton for the period ended 31 December 2024. The trustees onfirm that the trustees, report and financial statements comply with curftnt Statutory requirement5 and the provislons of the regulators. srRUCTURE. GOVERNANCE AND MANAGEMENT The Redeemed Christian Church of God - Faith Chapel Brixton has Its own board of trustees of three member5 and manages the attivities of the church. The parish pastor oversee5 the church. ORGANZSATIONAL STRUCTURE AND oecisioN MAKING The trustees meets regularly to manage the affairs of the oryanlsation. The parish pastor oversees the splritual actlvitles of the church. RELATED PARTY TRANSAcfioN RCCG Faith Chapel Brixton is a parish of The Redeemed Chri5tiar¢ Church of God with parishes all over the world. The parish's relationship with other parishes is governed by an 'Agreement for Common purposes, through RCCG Central Office. R15K MANAGEMENT The trustees have assessed the major rlsks to whlch the charity is exposed, In partlcular those related to operatlons and flnances of the charlty. and are sat15fled that systems are In plate to mitigate our exposures to major risks. 08JECTives AND ACTIVZTies The principal objert IS the advancement of Chrlstlan faith in accordance with the statement of beliets of The Redeemed Christian Church of God. and the relief of poverty. To achieve its objettlves, the church adopted the followlng strategies.. Running Sunday worship services, prayer meetings and midweek blble study, and Supporting other charitles and Christian events. Page 3
THE REDEEMED CHRISTIAN CHURCH OF GOD FAZTH CHAPEL BRixfoN TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2024 Charity No: 1198848 PUBLIC BENEFITS The Church's Sunday and mid-week services are open to the general public to bulk1 on their Christian faith. Apart from its Church activities, the charity was involved In the followlng public benefit efforts: Weekly vlsltation to Care Homes for encouragement. companionship and sharing of the Gospel. Holding outreaches in areas of interest to our community. In the year we shared the Joy of and with our tommunity by or9anising a Carol serylce, we also celebrated the Mothers, day in our community. We gave gifts. provide support and Share the message of goodwill from the gospel In the community. Our efforts are geared towards supportin9 the progrnmmes of our local community, promotlng Cohesion in our comrnunityi and impacting the lives of the youn9 people and the eld¢rly. GRANT MAKING POLICY The church supports vlslting ministers of the gospel both within and outside the United kingdom. Support Is also given to RCCG Central Office, World Evangelism Mission, Festlval of Life and other RCCG programmes. The Church supports other ¢harities and mlsslonary that shares its objects In the advancement of Christian faith and relief of poverty. The church gives occaslonal welfare grants to congregational members who are In need. VOLUNTEERS The church Is grateful for the unstinting efforts of it5 volunteers who are involved in provlding servites for the charity. It is estimated that over 200 hours was provided by volunteers durlng the year. If this Is conseNatively valued at £8 per hour, the volunteers effort will amount lo over £ 1,600. REVIEW OF ACTIVITies The church continues to enjoy tremendou5 growth in its physical and spiritual life during the year, and in advancement of Christian faith in accordance with the doctrines set out in its statement of falth contained in our governing document. RESERVES POLICY The trustee's policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this wo¥Jld enable the current attivities to continue if there is any significant drop in funding. It would obviously be necessary the to consider how the fundlng would be replaced or activities changed. Page 4
THE REDEEMED CHRisfiAN CHURCH OF GOD FAITH CHAPEL BRxKfoN TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST OECEMBER 2024 Charlty No: 1198848 PRINCIPAL FUNDif4G Funding has been provided mainly via tithes and offerings by church members and through donatbons. Pledges are also taken for specific pro)ects. ACHIEVEMENT AND PERFORMANce The church has tontinued to stay financTrally stable whlle at the Same tlme fulfilling all its financial obligations with the approval of the Board of Trustee5. The Church continues to collaborate with the Estate management and always 5eeklng Ways to make posltive impart on resldents of the estate. The church provlded Christmas hamper5 for over 50 elderly resldents ol the Bleingham Gardens Estate. The church also ran a FOOD RUN projert for the homeless and the less privileged FUTURE DEVELOPMENTS The charity continues to explore various ways of spreadlng the gospel of Chrlst In an effective manner. The charity is also 1¢)oking to grow in membership and to develop Sts members to make life-changing impact in the community. Other plans are as follows.. (l} A wider audience and investment in online streaming. semion uploads in soclal medl (e.9., YouTube, Facebook) unable to attend the physical church. lil) Increase number of partnershlps with local UK charitle5. (iii) Vlslting l¢xal elderly residents to assists with cleaning and other house chores. {iv) Organising Tea and coffee 5e5sions for mothers and toddlers groups (v) Organising indi)or games for teenagers during school holidays (vi) Seminars, workshops and tralning that will cut across all spheres of living, such as employability, education, health, finances, marriage5 etc. wlll be organized for the local community as target audience. (vii) Scheduled vlsitation of the homeless, nurslng care homes; and infflates in prlsons (viiil Registration with the UK HMRC for Glft Aid. Page 5
FArrH LMA-- Tr11sfEc i Ar>"OT FOA TE PEAIOD ENOE.. HBtR Chant'i ho.. 1 198540 rA TEI4EWT OF TR(ffjfEES' XESPOIIII•ILfTIES i Tre tru5ttts are re5ponsitye lor preDanr4 the annuhl rtwrt and Iin4llcial SmMents In Jicv'dhllli dppli=able I•w4S •nO re9ulab¢yis. Challtv la r¢auires rhe trustMs to prtpJr¢ finanaai %tapernents lor ¢Jcn finanuai ¥e4r. ur,Jtr Ihjr law, the tnJree% have elected to p."epare rhe finznuzl staL¢m•rtts In 3ccordar.ce ¥4,(h tie Uniled ¥ n-dDm LJene.fl11y .cct.pia>le MCLtsLnLn9 ?raL ICI.. IUI...led kif.9doiii ALcwiiting ST3nd•ftt5 arq aopl,cabie lawl. Tne fiAar5Lial st•lwnents dre reouirtd 10 9ive a true a.qd lair Vie +S the stale of afi8ir5 of the chanty ap.d thE surW4Js or def1 ¢ IM ch•riry for t1 peno In =reparin9 th¢ flrtano•l st•t¢ments, the trustees are reIre0 ro.. Select s..tole ac£ounrkn9 pdicles ond apply them consssiently M4ke iudgery.eni an4 ¢Stirnares that •re wsonable ap.d prudeni- Pre)are the finJnci•l siotements on a g0.'ng catKern bJ&s unle55 Il 1$ 4nbppropnate to presume rhat Ihe comp•fty wlll m operaiion. ees recoqnise their r*sgonslbil¢lbe6 io Keep proper atcoLityng rectyds that disclose wim reJsa.?able accuracy It •ny tsme the fiMno•l tIO1 of the chofrty and enable th¢m ts ensure p Isaac AlIDade Cha -. Hs Ajibola Oyedele Secretary
THE REDEEMED CHRISTIAN CHURCH OF GOD FAITH CHAPEL BRirON INDEPENDENT EXAMINERS REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2024 Charity No: 1198848 TO THE TRusfEES OF THE REDEEMED CMRISllAN CHURCH OF GOD - FAITH CHAPEL BRIxfoN I report on the accounts of the charity for the period ended 31 December 2024 which is set on page$ 8 _ 12 RESPECTIVE RESPONSIBIUTIES OF THE TRUSTEES AND THE EXAMINER The trustees are SPonsible for the preparation of the accounts. The trustees consider that an audit is not required for the period under the levant 5ertion of the Charities Act 2011 and that an independent examination Is needed. It Is my responslbility to.. examine the accounts under sertion145 of Charitles Art 2011; follow the procedLJres laid down in the general Dirertions glven by the Charity Commi55ion (under section 145{5)Ib) of the 2011 Art; and state whether partlcular matters have Come to my attentlon. BASIS OF MY EXAMINATION My examlnation was carried out in accordance wlth the Genernl Dlrections given by the Charlty Commission. An examination Includes a review of the accounting records kept by the charity and comparison of the accounts presented with those retords. It also includes consideration of any unusual Iterns or disclosures In the account, and seeking explanations from you as members board of trustees concerning any such matters. The procedures Undertaken do not provide all the evldence that would be requlred in an audit, and consequently no opinion is given as to whether the accoL•nts present a "true and fair. view and the report 15 Ilmited to those matters set out in the statements below. EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: 111 which gives me reasonable cause to believe that in any material respect the trustees have have not met the requirements to ensure that. proper accounting records are not kept in accordance with statutory req1j1ment. and accounts are ppared which agree with the accounting record5 and comply with the accounting requirernents of Charities Act 2011- or (2) to which, in my opinion, attention should be drawn in order to enable a proper under- standin9 of the accounts to be reached. Akintayo OJO FCCA IF U2025 46 Hollywood Wayi Erith. DA8 2QE Page 7
THE REDEEMED CHRIsfIAN CHURCH OF GOD FAITH CHAPEL BRxxfoN STATEMENT OF FINANCJAL A1v[riEs FOR THE PERIOD ENDED 31 DECEMBER 2024 Charity No: 1198848 Tot•1 Total Fund* Fund• Fund Notes 2024 2024 2024 1013 In¢omlng reurCeS Donations & incoming resources Total Incomlng resources 28,454 28,455 28,455 28,102 28,102 Resourc•• •xpend•d C05t of artlvltles in furtherance of charity's objects Management and governance cost Total re•ource• expended 18,756 5,543 18,756 5,543 24,298 19,348 6,200 3&4 Netloutgolnglllncomlng resources for the year 4.155 4,156 2,555 Total funds brought forward 45,176 45,176 Total funds carried forward 49,331 49,332 45,176 Page 8
THE REDttMRD CMRISIIAII CHUIICM OV QOQI FArr..I cTri.i-..r.L i...YroM 8ALMts SP.EET AT 31 DECtMESFR 2J24 ChJnty No.. 1198848 Fun F¥n 10)4 X124 ?024 20JJ FIX A¥••ts -angible fixe¢ Jsse 1.684 1,898 Curr¢ir Iti Oemors IPreDblt1 Eypl Cè5h •1 banit and In han¢J 48,398 48.398 t,V,.876 ,87B 48,398 Leu: C¥rr•nl U•b115tie•: Creditors.. Am?unt lallin9 due wirhln Orye year N•t ••••t• 950 49,332 950 49,J33 1,600 45,IY41 FIn•dE •Y: Chlrlty fvné• C-c,ierdl res'...r.ed f.en¢rpl + unrrtvi-ted 49.331 49.3J I 49.332 45,176 45,176 raciiE•. Ac¢ountyry F¢er4rung OY Cmrim ISOAP) T£Th 2M8 4$ sm•l•r chIrrt. ppmved by 5tees cn 11111120 and signets ¢)n their behalf by". Mr Is8Bc AiiDaoe chair Ms Allbola Oyedel• Secr&4ry Pag¢ 9
THE REDEEMED CMRIsfIAN CHURCH OF GOD FAITH CHAPEL BRIxroii NOTES TO TfrIE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2024 Charity No: 1198848 I. ACCOUNTING POUCIES (1.1) Basis of preparation of financial statements These accounts have been prepared under the historical cost convention and in accordan with the Financial Fieporting Stsndard for Smaller Entities {effective April 2008) .The financial statements have been prepared wtth Statement of Recommen(Jed Prattice (SORP), "Accountlng and Reportlng by Charities publlshed In March 2005 and applicable a¢countlng standards. 11.21 Incomlng re50urce5 All incomSng resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be reasonably quantified with reasonable accuracy. 11.3) Resources expended All expenditures a accounted for on an accrual basls. Management and governance costs are cost incurred In connection with adminlstratlon and complian¢e with statutory requirement 11.41 Fixed assets comprises of musical equipment, prolectors cost and a mini van. DeptIatIon are charged at rate5 listed below to write off the cost of the assets over their useful Ilves. Church Equiprnent 20% straight line Furniture, fixtures & fittings IO% reducing balance Unrestritted Funds Restrirted Funds Total Funds Total Funds 20211 2024 2024 2023 2. DONATIONS, LEGACIES AND sIMIR INCOMING RESOURCES Tithes Main Offering Thanksgiving Happy Church (Rental Income) 12.450 5,980 2,225 7.800 28,454 12,450 5,980 2,225 7,800 28,454 16,528 4,179 1,545 5,850 28,102 Page 10
THE REDEEMED CHRIsfIAN CHURCH OF GOD FArrH CHAPEL BRIKfoN NOTES TO THE ACCOUNTS FOR THE PEIUOD ENDED 31 DECEMBER 2024 Charlty No: 1198848 Unrestricted Re5trirted Funds Funds Total Unrestrirted Funds Funds 2024 2024 2024 2023 3. COST OF ACTIvrrtES TO FURTHER CHARfrYs OBJEcrs Hall hlre, rent & rates Telephone I Internet Computer Consummables Utilities Repalrs and Maintenance Travelllng Ordained Mini5ter5 Conference Outreach / Evangelism Administration expenses Depreclatbon 13,497 669 13.497 669 12,975 629 73 2,544 1,565 48 405 605 iii 392 19,348 2,905 2,905 482 336 355 513 482 336 355 513 18,756 4. MANAGEMENT AND GOVERNANCE cosrs Unrestritted Restrirted Funds Funds 31-Oec 2024 31-Dec 2023 Accountancy fees Pastor's Allowance 1.043 1,043 800 31-Dec 2024 31-Dec 2023 5. CASH BALANCES Total cash balances held in all current accounts. 48,398 48,398 44,878 44,878 6. DEBTORS 31-Dec 2024 31-Dec 2023 Prepayment Page 11
THE REDEEMED CHRISTIAN CHURCH OF GOD FAITH CHAPEL BRIxfoN NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2024 Charity No: 1198848 7. TANGIBLE nXED ASss Church equipment Flttings & Fixtu Total 31-Dec 2024 Total 31-Dec 2023 Cost At l January 2024 Ad¢Jltions At 31 Decernber 2024 D•preclatlon At l January 2024 Charye for the year At 31 December 2024 1.564 499 2.063 1,279 2.843 499 3,342 2.651 1,326 378 385 763 567 128 695 944 513 1.457 1,687 392 2,079 Net book value At 31 December 2024 1,300 584 1,898 8. CREDITORS 31-Dec 2024 31-Dec 2023 AccDJed Expenses 950 950 1,600 1,600 9. NET JNCOMJNG RESOURCESI(RESOURCES EXPENDED) Tttls Is stated after char9lng 31-Dec 2024 31-Dec 2023 Depreclation of tangible assets owned by the charlty Accwed Expenses 513 950 392 800 10. TRUSTEES RENVMERATION 31-Dec 2024 31-De 2023 Durlng the year, no Trustee received any remuneration Dyring the year, no Trustee received any benefts in kind Page 12