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2024-10-31-accounts

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS

Report and Financial Statements For the Year ended 31st October 2024

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st October 2024

Contents Page
Legal and Administrative Information 2
Report of the Trustees 3-6
Independent Examiner’s report 7
Statement of Financial Activities 8
Balance sheet 9
Notes forming part of the Financial statement 10-13

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THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st October 2024

LEGAL AND ADMINISTRATIVE INFORMATION

Officers and Professional advisers

TRUSTEES

ALAGBALAWURA ENIOLA FUHAJ-SANNI ESTHER OLUFOLAWEMI LEIGH-SOLARU ADERONKE ABIODUN KASSIM

REGISTERED OFFICE

Trem City Of Praise 5 Sheepscar Court, Meanwood Road, Leeds, United Kingdom, LS7 2BB

BANKERS

EXAMINER

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

CHARITY COMMISSION REGISTERED NUMBER 1201920

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THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31st October 2024

Governing Document

The charity is Constituted as a “Trust” and governed by ‘Trust Deed’ dated 13 February 2023.

Trustee Appointments, Training of New and Old Trustees

Trustees are appointed and or co-opted under the terms of the trust deed. The induction process for a newly appointed trustee comprises an initial meeting with the Chair and other Trustees, followed by short meetings with the Parish Pastor on the powers and responsibilities of the Trustees and the requirements of the charity commission.

Public Benefit Statement

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for public benefit. Details of how the charity has achieved these are provided in this report.

Organisational Structure and Decision Making

The Charity is organised so that the trustees meet regularly to manage its affairs. The spiritual aspect of the church is handled by the Parish Pastor and the day to day running of the charity is overseen by the Board of Trustees.

Related Party Relationship

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS, is a member of THE REDEEMED EVANGELICAL MISSION, a global church with parishes in over 190 countries. The relationship is governed by an “Agreement for Common Purposes” between the parish and TREM. The referenced “Agreement for common Purposes” document is constantly monitored and recommended for updates, to take cognisance of unfolding events (policies, regulations) in the United Kingdom.

Risk Management

The trustee board performs its duty of safeguarding the charity against major risk. The board regularly reviews the charity’s structures, policies, procedures and practices.it recommends strategic and operational options and implements adequate prudent controls and preventive actions to safeguard the assets of the charity, as well as its operation.

Objectives and Global Outreach

Objectives and Activities

The principal object is the advancement of the Christian faith worldwide in accordance with THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS doctrines, the relief of poverty and to promote any charitable activity for the benefit of the local people. To achieve its objectives, we adopted the following strategies:

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THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31st October 2024

ACHIEVEMENT AND PERFORMANCE

The Church has been engaged in various activities detailed below in pursuance of our charity and public benefit.

The Church is opened on Sundays and midweek for services to the general public and our community to build their Christian Faith as well as share fellowship to meet spiritual and emotional needs. Apart from its Church activities we also engaged in the following:

1. Youth Monthly Fellowships

2. Weekly Ministers Prayer Meeting.

  1. Other Periodic Trainings-School of Disciples, Workers in Training and Baptismal class.

Special Programmes Held Within the year

----- Start of picture text -----
DAY Time Weekly Program
1 Sunday 10:30 -11:00 Workers Prayer
2 Sunday 11:00 -13:00 Worship service
3 Tuesday 19:00 – 19:30 Groups Meeting
4 Wednesday 19:00 – 20:30 Bible Study
5 Thursday 18:00 – 19:00 Evangelism and Outreach
6 Friday 20:00 – 21:00 Intercessory Prayer
7 Saturday 17:00 – 20:00 Choir rehearsal
----- End of picture text -----

Other activities aimed at the youths especially our music. We bring youth together in a powerful environment enabling them to use their talent to promote active and positive membership of the society. To also help sponsor them to attend other musical programmes in different sister churches

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THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31st October 2024

.

CONTRIBUTIONS MADE BY VOLUNTEERS

The charity enjoys the services of various volunteers, who contribute enormously in various areas of service provision, development and implementation of the Church vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations. We are greatly indebted to these volunteers for their commitment and support.

ACCOUNTING POLICIES

Scope and Basis of the financial statements:

The Trustees have adopted the provision of the Statement of Recommended Practice (SORP) Accounting and Reporting by charities issued in March 2005

FINANCIAL REVIEW AND RISK MANAGEMENT

The financial support (mainly from member donation) continues to enable the church to be self-sustaining in meeting its day-to-day operational needs and in fulfilling a myriad of public benefit and charitable services.

The charity also intends to help improve our members and volunteers by sending them on training that can add value to their life or help gain necessary skills to succeed in their chosen field and to intensify effort in searching for a permanent church venue to meet the need of the growing church and its local community.

The charity is looking out to partner with more organisations in our local community positively.

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 these financial statements, the trustees are required to:

5

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31st October 2024

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. THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS

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 31st October 2024. In accordance with this appointment, AACSL Accountants Limited was appointed as examiner.

Approved by the Board of Trustees and signed on behalf of the Board by:

Aderonke Abiodun Kassim on behalf of the trust. Trustee 05 February 2025.

6

Independent Examiner’s Report to the Trustees of THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS

I report to the trustees on my examination of the accounts of THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS Trust for the year ended 31st October 2022, which are set out on pages 9 to 13.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. The accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

05 February 2025.

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THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 31 OCTOBER 2024

Notes
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
General Donations
2
Other income
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Cost of Generating Funds
Charitable activities
4
Governance
5
TOTAL RESOURCES EXPENDED
Net income/(outgoing) resources
Total funds brought forward
Prior Year Adjustments
Total funds carried forward		 Un-
restricted
funds
2024
£
47,181
22,136
69,317
-
49,220
480
49,700
19,618
8,577
28,195		 Restricted
Funds
2024
£
-
-
-
-
-
-
-
-
-
-
-		 Total
Funds
Total
Funds
2024
2023
£
£
47,181
39,112
22,136
211
69,317
39,323
-
-
49,220
34,973
480
2,128
49,700
37,101
19,618
2,222
8,577
6,355
-
-
-
-
28,195
8,577

All incoming resources are derived from continuing operations. The charity has no other gains or losses other than those recognised in the Statement of Financial Activities.

8

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS BALANCE SHEET AS AT 31 OCTOBER 2024

2024
Total
Notes £ £
FIXED ASSETS
Tangible Assets 6 3,808
CURRENT ASSETS
Debtors 7
Cash at bank and in hand 8 10,838
10,838
Current Liabilities
Creditors: amounts falling due within one year 9 480
Net Current assets/(Liabilities) 10,358
TOTAL ASSETS LESS CURRENT LIABILITIES 14,166
FINANCED BY:
Unrestricted funds 10 14,166
TOTAL FUNDS 11 14,166

For the year ending 31st October 2022, 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 in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The Accounts was approved by the Board of Trustees and signed on behalf of the Board by:

Aderonke Abiodun Kassim Trustee 05 February 2025.

9

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st October 2024

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (2005), the Charity Act 1993 and applicable UK accounting standards.

Cash flow statement

Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement on the grounds that the charity is below the threshold specified in Appendix 2 of the FRS1.

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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by 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 are set out in Note 2.

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. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income being received, the income is accrued.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Premises overheads have been allocated on a floor basis and other overheads have been allocated on the basis of the head count.

Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. Governance costs are those incurred in connection with governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements. The basis of allocation for support costs and governance costs has been explained in Note 3.

10

THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2024

Note 2. Incoming Resources - General Donations

----- Start of picture text -----
2024 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
Tithes 23,555 - 23,555 26,182
-
Offering 3,759 3,759 11,430
-
Others - Thanksgiving, Building etc 19,867 19,867 1,500
Bank Interest Received - - - -
-
47,181 47,181 39,112
Note 3. Incoming Resources - Other Income
2024 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
Other Donatons 22,136 - 22,136 211
Events income - - - -
Other income - - - -
22,136 - 22,136 211
Note 4. Resources Expended - Activities 2024 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
-
Clergy Allowance & Expenses 2,400 2,400 3,992
-
Depreciation 1,814 1,814 1,814
Equipment Expense 11 - 11 896
Events & Other related costs 18,021 - 18,021 2,696
General Office Expenses 5,675 - 5,675 507
Insurance 1,356 - 1,356 656
Printing & stationery 125 - 125 -
IT Software 284 - 284 674
Rent 15,000 - 15,000 16,100
Rent Service Charge - - - 493
Subscriptions 40 - 40 -
Telephone, internet & postage 246 - 246 304
-
Travel/Hotel Accomodation 2,181 2,181 1,536
Utilities - - -
Worship Cost- Communion & Musicians etc 2,065 - 2,065 5,305
-
49,220 49,220 34,973
Note 5. Resources Expended – Governance 2024 2023
Unrestricted Restricted Total Total
Funds Funds Funds Funds
£ £ £ £
Accountancy 480 - 480 480
Other professional fees - - - 1,648
480 - 480 2,128 11
----- End of picture text -----

Note 6.
TANGIBLE ASSETS
Cost
Total Costs
Depreciation
Balance brought forward
Charge for the year
Balance carried forward
Net book value
At 31 October 2024
At 31 October 2023
Note 7.
Debtors
This is made up as follows:
Prepayment
Note 8.
Cash at bank and in hand
Cash at bank
Cash at hand
Note 9.
Creditors: amounts falling due within one year
This is made up as follows:
Accountancy Fees
Other creditors
Note 10.
Movement in funds
Unrestricted funds
Charity's fund		 All Asset
£
15,634
15,634
9,950
1,876
11,826
3,808
5,684
2024
£
-
-
2024
£
10,838
-
10,838
2024
£
480
480
Opening
balance
£
6,789
6,789		 2024
2023
Total
All Asset
£
£
15,634
15,634
15,634
15,634
9,950
8,074
1,876
1,876
11,826
9,950
3,808
5,684
5,684
9,374
2023
£
-
-
2023
£
1,585
-
1,585
2023
£
480
480
Incoming
Resources
resources
expended
£
£
69,317
49,700
69,317
49,700
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THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st October 2024

Note 10.1 Analysis of net assets by fund
Unrestricted
Funds
£
Cash at bank and in hand
10,838
Other net assets (liabilities)
3,328
14,166		 Restricted
Funds
£
-
-
-		 2024
Total
Funds
£
10,838
3,328
14,166		 2023
Total
Funds
£
1,585
5,204
6,789

Note 11. TRUSTEES REMUNERATION

The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2024: £nil)

Note 12. As a company, THE REDEEMED EVANGELICAL MISSION, CITY OF PRAISE, LEEDS is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its objects. No tax charges have arisen in the Company.

Note 13. Control

The ultimate controlling parties are the directors’ as stated on page 2.

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