OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-06-30-accounts

CHARITY NUMBER: 1204198

RCCG PRAISE PALACE NORTHAMPTON

RECEIPTS AND PAYMENTS ACCOUNTS

FOR THE FINANCIAL YEAR ENDING 30[TH] JUNE 2024

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON CONTENTS OF THE ACCOUNTS FOR THE PERIOD ENDED 30[TH] OF JUNE 2024

Page
Report of the Trustees 2 - 4
Independent Examiner’s Report 5
Income And Expenditure Account 6
Balance Sheet 7
Notes to the accounts 8 - 10

1

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30[TH] OF JUNE 2024

The trustee presents their report with the financial statements of the Charity for the year ended 30[TH] of JUNE 2024. The trustees have adopted the provisions of the statement of recommended practice (SORP) Accounting and Reporting by charities issued in 2005.

REGISTERED CHARITY NUMBER

1204198

CHARITY’S PRINCIPAL ADDRESS

272 Countess Way, Broughton, Milton Keynes MK10 7EW

NAMES OF THE CHARITY TRUSTEE

SAMSON ADEPOJU Abraham Adekunle Adeyemi NURAIN BIODUN ADEYINKA AJAYI

BANKERS

TSB 549 Midsummer Blvd, Milton Keynes MK9 3BD

INDEPENDENT EXAMINER

Mr Adeyemi Ogunnaike AFA MIPA (Institute of Financial Accountant)

Chartered Certified Accountant

TLY Financial Services Ltd

Email:- adeyemi@tlyfinancialservicess.com Landline;- 01908827255 Mobile :- 07972798007

MK10 7EW

2

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30[th] OF JUNE 2024

STRUCTURE, GOVERNANCE AND MANAGEMNET

The Charity – PRAISE PALACE NORTHAMPTON

PRAISE PALACE NORTHAMPTON is a member of the Redeemed Christian Church of God (RCCG), which has Parishes all over the world. The relationship between RCCG and PRAISE PALACE NORTHAMPTON is governed by an “Agreement for Common Purpose” dated 30 November 2022. The Charity, PRAISE PALACE NORTHAMPTON is constituted as a “Trust” and governed by a “Trust Deed” dated 02[nd] of August 2023.

Objectives and activities

  1. The advancement of the Christian faith worldwide in accordance with the doctrines set out in the statement of faith and;

  2. The relief of poverty

Grant Making policies

Under the “Agreement for common purpose”, PRAISE PALACE NORTHAMPTON has agreed to make regular contributions to the World Evangelism Mission through RCCG, UK, support missionary organisations such as Festival of Life, African Mission, Good Women’s fellow

ship, Annual Convention held at the International Headquarter, including, other obligations as agreed.

Governance

The Trust is governed by Trustees, who are appointed under the terms of the trust deed. The Trustees attend training regularly to develop and enhance their knowledge. In addition, bulletins and other knowledge-based resources regularly forwarded to the trust by the Charity Commission also serve as updates regarding their assignment as trustees.

Structure

The Spiritual aspect of the church is handled by the Parish Pastor. The Trustees exercise the day to day oversight of the running of the church. In addition, the trustees meet regularly to review the operations of the church and also make decisions on major issues affecting the church.

The church is organised into groups of; men, women, youth and children for administrative convenience, effectiveness, and to ensure that the needs of each group are adequately met.

Risk Management

The trustees perform the duty of safeguarding the charity against major risks, by reviewing the operations / procedures of the charity’s activities regularly, and by putting adequate controls in place to safeguard the assets of the charity.

Volunteers

The charity enjoys the services of various volunteers, who contributed enormously in various areas of service provision, development and implementation of the church’s vision. The volunteers are encouraged to attend various training and development programmes organised by the charity and other organisations.

During the year, more volunteers joined the work force to help run the charity and make it more effective in discharging its charitable obligations, especially, to its community.

3

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 30[th] OF JUNE 2024

Achievement and Performance 2024

  1. Food Bank - We have been able to maintain our level of welfare within the charity, and local community on quarterly basis.

  2. Christian Youth Camp ; our main annual Youth conference and youth camp event

  3. Annual Couple retreat

  4. RCCG Slovenia Mission

Financial Review

Reserves policy

At the end of the financial year, the trust holds total cash at Bank of £4,348 all which are unrestricted funds.

Principal funding sources

The charity’s main source of fund this year has been through voluntary donations from members.

Future Development 2025

  1. As part of our commitment to tackling food poverty, and in light of the continuing relevance, and dependence on food bank, the charity plans to expand its scope of operation. Subject to availability of funds, the charity plans to seek and train more volunteers for its own scheme but will continue to collaborate with more charities in the community concerning food poverty.

  2. The charity will continue to donate and partner with World Vision, and the World Evangelical Mission of the RCCG (WEM) Charity. However, we intend to partner with more International Charities dedicated towards the education, health, and the general well-being of children, especially in war ravaged areas of the world.

  3. The charity plans to continue its annual youth camp and the married couple events.

ON BEHALF OF THE CHARITY

----- Start of picture text -----
MR SAMSON ADEPOJU 30/04/2025
----- End of picture text -----

----- Start of picture text -----
MR ABRAHAM ADEKUNLE ADEYEMI 30/04/2025
MR NURAIN BIODUN ADEYINKA AJAYI nurainajayi 30/04/2025
----- End of picture text -----

Date:13/04/2025

4

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

INDEPENDENT EXAMINER’S REPORT FOR THE PERIOD ENDED 30[TH] OF JUNE 2024

I report on the Accounts of the charity for the year ended 30[th] OF JUNE 2024; set out in pages 6 to 10

Respective Responsibility 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 my responsibility to:

Basis of Independent examiner’s Report

My examination was carried out in accordance with 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 the 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 in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 41 of the 1993 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met ; or

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

Name & address of independent examiner

Mr Adeyemi Ogunnaike AFA MIPA (Institute of Financial Accountant)

Chartered Certified Accountant

TLY Financial Services Ltd

Email:- adeyemi@tlyfinancialservicess.com

----- Start of picture text -----
23/04/2025
----- End of picture text -----

Landline;- 01908827255

Mobile :- 07972798007

5

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30[TH] OF JUNE 2024

Notes
INCOMING RESOURCES
Incoming resources from generated funds
- Voluntary income
1
- Investment income
Total incoming resources
RESOURCES EXPENDED
Charitable activities (Support cost)
2
Governance costs
Total resources expended
Net income/(expenditure)
TRANSFERS
Gross transfers between funds
Net movement in funds
Funds at 01 July 2023
Funds at 30th of June 2024		 Unrestricted
Funds
£
36,747
0
36,747
33,848
0
33,848
2,899
0
2,899
0
2,899		 Restricted
Funds
£
0
0
0
0
0
0
0
0
0
0		 Total
2024
£
36,747
0
36,747
33,848
0
33,848
2,899
0
2,899
0
2,899		 Total
2024
£
36,747
0
36,747

33,848
0
33,848

2,899
0
2,899
0
2,899

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

6

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

BALANCE SHEET AS AT 30[th] OF JUNE 2024

Notes
FIXED ASSETS
Tangible assets
3
Investments
CURRENT ASSETS
Debtors & Prepayments
6
Cash at bank
CREDITORS
Amounts due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts due after more than one year
8
TOTAL NET ASSETS
RESERVES
Unrestricted funds
Surplus Current Year

These financial statements were approved by the Board of Trustees on 13[TH] OF JUNE 2024 The notes on pages 8 to 10 form part of these financial statements.

7

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 30[TH] JUNE 2024

1. Incoming resources from voluntary income

1. Incoming resources from voluntary
income
Tithe
Offering
Thanksgiving
Special Offering and Donation
Gift aid		 Unrestricted
Funds
£
20,677
5,816
1,115
1,890
7,250
36,747		 Restricted
Funds
£
0
0
0
0
0
0		 Total
2024
£
20,677
5,816
1,115
1,890
7,250
29,497		 Total
2024
£
20,677
5,816
1,115
1,890
7,250
29,497

2. Support Costs

2. Support Costs
Stipends
Tax
Office Expenses
Welfare
Fuel Cost
Honorarium
Evangelism
Insurance
Repairs & maintenance
Training Development
Rent
Motor Expenses
Depreciation		 Unrestricted
Funds
£
2,750
0
3,551
3,744
2,415
800
5,404
59
784
5,964
6,240
110
250
33,848		 Restricted
Funds
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0		 Total
2024
£
2,750
0
3,551
3,744
0
800
5,404
59
784
5,964
6,240
110
250
33,848		 Total
2024
£
2,750
0
3,551
3,744
0
800
5,404
59
784
5,964
6,240
110
250
33,848

8

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 30[th] OF JUNE 2024

3. Fixed Assets

Building
£
COST
At 1stof July 2023
0
Additions
0
Disposal
0
At 30thof June 2024
0
DEPRECIATION
At 1st July 2023
0
Charge
0
Disposal
0
At 30thof June 2024
0
NET BOOK VALUE
At 30thof June 2024
0		 Motor
Vehicle
£
0
0
0
0
0
0
0
0
0		 Fixtures
&
fittings
£
0
0
0
0
0
0
0
0
0		 Church/
office
equipment
£
3,250
0
0
3,250
250
0
0
3,000
3,000		 Total
£
3,000
0
0
3,000
250
0
0
3,000
3,000
4. Net incoming/(outgoing) resources is stated after charging – Group
Unrestricted Funds
Restricted Funds
£
£
Depreciation
250		 Total
2024
£
250		 Total
2024
£
250

5. Taxation

RCCG PRAISE PALACE NORTHAMPTON is a registered charity and is eligible for the exemptions from taxations available to charities on their charitable activities. No charge to taxation therefore arises.

9

REDEEMED CHRISTIAN CHURCH OF GOD (RCCG), PRAISE PALACE NORTHAMPTON

NOTES TO THE ACCOUNT FOR THE PERIOD ENDED 30[th] OF JUNE 2024

6. Debtors
Gift Aid Repayment
Other Debtors
Accrued Expenses
8. Creditors – amounts falling due after one year		 2024
2024
£
£
7,250
0
0
0
0
0
0
0
2024
2024
£
£
0
0

10