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2024-05-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD FAITH ASSEMBLY

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2024

REGISTERED COMPANY NO: 14906184 CHARITY NO: 1204979

The Redeemed Christian Church of God Faith Assembly

(A Company Limited by Guarantee)

CONTENTS Page
Reference and Administrative Details 1
Trustees' Reports 2
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the financial statements 7

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

REFRENCE AND ADMINISTRATIVE DETAILS

Charity Name: The Redeemed Christian Church of God Faith Assembly
Charity Registration Number: 1204979
Company Registration Number: 14906184
Registered Office Bakers House
25 Bakers Road
Uxbridge
UB8 1RG
Trustees: Benjamin Tope Adediji
Samuel Olukunle Ojo
Victor Idowu Olukanni
Independent Examiners TPC Consult (UK) Ltd
Unit A
82 James Carter Road
Mildenhall
IP28 7DE
Bankers: HSBC Bank PLC
28 High Street
Uxbridge
Middlesex
UB8 1JN

Page 1

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES

The Trustees present their Report and the Financial Statements for the year ended 31 May 2024. The Trustees confirm that the annual Report and Financial Statement of the charity comply with the companies House Acts 2006, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicalbe inn the UK and Republic of Ireland (FRS 102 effective 1 January 2015). The board of trustees are satisfied with the performance of the charity during the year and consider the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its ministry obligations.

Name, regidtered office and constitution of the charity

The full name of the charity is The Redeemed Christain Church Of God Faith Assembly.

The legal registration details are:-

Date of incorporation: 31/05/2023 Company Registration number: 14906184 The Registered Office is: 28 Fairway Avenue, West Drayton, United Kingdom, UB7 7AN Charity Registration Number: 1204979

Objectives and Activities of the Charity

A summary of the objects of the charity as set out in its governing document.

The principal objectives are the propagation of the gospel, the advancement of the Christian faith and the relief of poverty. Each year the trustee review, the objectives and activities to ensure they reflect the charity aims. In carring out the review, the trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the benefit of all.

Volunteers

During the year, we had the support of over 20 active volunteers contributing many hours supporting administration, management, finance and member's follow-up, outreaches, visiting the homeless etc. Several fiftys of other volunteers, contributed towards evangelsm effective runing of the church servies and to various church events.

Statement of Public Benefit

The charity has continued to build on the primary objectives of changing and imparting in London and other parts of the United Kingdom.

Our weekly meetings and the feedback from individuals comfirmed that their life have been changed greatly and they now live a better life with their faith in God and his word to make a living and they are now a blessing to others in their various communities. The charity exists for the Public Benefits and opens her services and activities to all.

Structure, Governance and Management

Governing Document

The Charity is controlled by its governing document and constitutes a limited company by guarantee, as defined by the Companies Act 2006.

The Redeemed Christian Church Of God Faith Assembly is a charitable compamy limited by guarantee, governed by Memorandum & Articles of Association. The operations of PPM are determined by a governing body of unpaid members, acting as trustees. The resident pastor serves as the Chief Executive Officer responsible to the governing body for the overall magement of the church and for ensuring that all policies are carried. The Charity is constituted under a Memorandum of Association dated 31 May 2023 and is a registered charity number 1204979.

Methods adopted for the recruitment and appointment of new trustees.

Trustees are appinted by the board of trustees using basic skills survey method. Due considerating is given to what is needed to make the board as effective as can be. Also care is taken to ensure the Board has the right mix of skills and experience to discharge its duties and ensure effective governance and management.

The policies and procedures adopted for the induction and training of trustees.

A trustee induction is organised for new trustees to familarise them with the Memorandum & Articles of Association; their legal obligations, roles and responsibilities under Charity Commission and Companies laws, RCCGFA risk management process as well as policies and procedures. Continuous formal training is also organised for the trustees to equip them with the knowledge and reguired skills for their roles. The trustees are also made aware of the sources of information, and guidance on the best practice to enable them to be efective in their role.

Achievments and Performance

The charity carried out numerous activities in the year in accordance with its objects and plans for the year. These includes Christian outreachs, training, meeting three times a week for bible studies, concert. The youths are engaged with various activites like drama, debates, training on musical instruments, music concerts etc. The charity carried out distribution of clothings and food in the locality oflondon and it environs.

Page 2

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES

Risk Management

Trustees take seriuosly their responsiblty to assess and manage the major risks that the charity faces and reviews them at least twice a year. A formal risk management process is in place to ensure risks are identified and and appropriate mitigation actions are taken - this is captured in our Risk Management Policy.

Policies on reserves

The trustees considered that, given the nature of the charity as a church is funded by the voluntary weekly donations of its members which is made of the tithes and offerings, the risk of there being a sudden and total cessation of income to be extremely remote. The trustees are however mindful of the fact that the charity needs to pay its bills as they fall due. With this in mind, the trustees have calculated that the core expenses of the charity is principally the rent and contractors who plays the musical insturments. This equates about £2,500 per month. They have therefore, plan to ensure that there will be always at leat £10,000. of unrestricted income in the charity bank accounts, equivalent to the core cost for four months to meet such expenses.

Transaction and Financial position.

The financial statements have been prepared in accordance with the Charities SORP (FRS 102), issued by Charity Commission for England and Wales and the Office of the Scottish Charity Regulator, and in compliance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and has applied the relevant public benefit entity provisions.

The Financial Statements have been prepared implementing the 2015 Revision of the Statement of Recommended practice for Accounting and Reporting by Charities issued by the Charity Commission for England and Wales (revised in June 2008) and in accordance with the Financial Reporting Standard for Smaller entities (effective April 2008). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the year to have been satisfactory.

For the year ended 31 May 2024 the Statement of Financial Activities shows total incoming resoures of £116829. This was spent mainly on charitable activities and total expenditure amounted to £78,739 We closed the year with a net incoming resoures of £38090.

Share Capital

The company is limited by guarantee and therefore has no share capital.

The members of the Board of Trustees of the charity during the year ended 31 May 2024 were:

  1. Benjamin Tope

  2. Samuel Olukunle

  3. Victor Idowu Olukanni

These are the trustees of the charity, and their responsibilities includes all the responsibilities of the directors under the Companies Acts and of the trustees under the Charities Acts. The trustees are all members of the charity.

Responsibilities and basis of preparation of the report

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explan the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasnable steps for the prevention and detection of fraud and other irregularities.

The trustees are also responsible for the contents of the trustees' report and the responsibilty of the independent independent examiner in relation to the trustees' report is limited to examing the report and ensuring that, on the face of the report, there is no inconsistencies with the figures disclose in the finacial statements.

Method of preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subjects to the small companies regime

Signed on behalf of the trustees

OlukanniIdowu 10th September 2025 Mr Victor Idowu Olukanni (Chairman)

Page 3

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the Trustees of The Redeemed Christian Church of God Faith Assembly.

I report on the accounts of the above Charity for the year ended 31 May 2024 set out on pages 5 to11.

Respective responsibilities of trustees and independent examiner

The Trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006, (“the 2006 Act”). The charity’s trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect:

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.

Signed: C. John-Musa FFA FIPA TPC Consult (UK) Ltd Unit A 82 James Carter Road Mildenhall IP28 7DE

Date: 10th September 2025

Page 4

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

Statement of Financial Activities for the year ended 31 May 2024

Recommended categories by activity
Notes
Income from:
Donations and legacies
3
Charitable activities
Investments
Total Income
Expenditure on:
Raising funds
Charitable activities
5
Total Expenditure
Net income before Taxation
Taxation
8
Net movement in funds
Reconciliation of funds:
Total funds brought forward
14
Net Movement in Funds
Total funds carried forward
14		 Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
116,829
-
116,829
84,625
-
-
-
-
-
-
-
-
116,829
-
116,829
84,625
-
-
-
78,739
-
78,739
73,343
-
-
-
-
78,739
-
78,739
73,343
38,090
-
38,090
11,282
-
-
-
-
38,090
-
38,090
11,282
54,183
-
54,183
42,901
38,090
38,090
11,282
92,272
-
92,272
54,183

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 7 to 11 form part of these financial statements.

Page 5

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

BALANCE SHEET AS AT 31 May 2024

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
11
Creditors: amounts falling due within one year
12
Net Current Asset
Total assets less current liabilities
Creditors: amounts falling due after one year
13
Total net assets
Charity Funds:
Restricted funds
Total Restricted Fund
14
Unrestricted funds
General Fund
14
Total Unrestricted Fund
Total funds
14		 -
85,004		 2024
£
8,468
83,804		 2024
£
8,468
83,804		 1,000
49,709		 1,000
49,709		 2023
£
4,074
-
50,109
54,183
-
85,004
1,200		 50,709
600
- -
-
-
92,272
-
92,272 - 54,183
-
92,272		 - -
-
54,183
92,272 54,183
92,272 54,183

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statement have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The Financial Statements were approved by the board on the 17th September 2025 and signed on its behalf by:

Mr Victor Idowu Olukanni (Chairman) Position: Trustee

The notes on pages 7 to 11 form part of this financial statements.

Page 6

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MAY 2024

1. General information

The Redeemed Christian Church of God Faith Assembly is an incorporated charity limited by guarantee. Registered in Engaland with company number 14906184. The address of the registered office is given in the information page of these Financial Statements. The nature of its operations and principal activities are outlined in the Trustees Reports.

2. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of preparation of the Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102). Accounting and Reporting by Charities: Statement of recommended practice applicable in the United Kingdom and the Republic of Ireland (FRS 102) (effective 1 Janaury 2019). The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) and the Companies act 2006 and the United Kingdom Generally Accepted Accounting Practice. And the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds may include a revaluation reserve representing the restatement of investment assets at market values where applicable.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

(c ) Income

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income after any performance condition have been met, the amount can be measured relably and it is probabile that the income will be received.

Categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receiveable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Invested income is included when receivable.

Income from charitable trading activity are accounted for when earned.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

(d) Expenditure

All expenditure is accounted for on an accrual basis. Ependiture is recorgnised where there is a legal or constructive obligation to make payments to third parties , it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is categorised into the folloing headnings:

All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

e. Tangible Fixed Assets and Depreciation

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1000 are not capitalised.

Depreciation

Depreciation is provided at rates calculated to write off the cost of each asset, less their estimated residual value over its expected useful life.

Land and Building 2% on cost Musical Equipment 25% on cost Furnitures & Fittings 20% on cost Motor vehicle 25%, on cost Office Equipments 25% on cost

Investments held as fixed assets are revalued at mid market value at the blance sheet date and the gain or loss taken to the Statement of Financial Activities.

Page 7

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

3. Incoming Resources from Donation and Legacies
Donations:
Tithes
Offering
Thanksgiving
Other Ministry Income
Building Support
Gift Aid
4. Incoming Resources from Charitable activities
Charitable Activities
Total Incoming Resourses
5. Expenditure on Charitable Activities
Travel & Subsistence
Honorarium
Evangelism and Promotion (WEM)
Central Office Fund (COF)
Christmas & Anniversary Expenses
Conference & Events
Ministries Expenses ( Children Church)
Motor Vehicle cost
Ministers Stipend / Staff Salary
Music & Media
Welfare
Training and books
Refreshment
Gift to Charities & Visting Ministers (Donation)
Support Cost
Rent
Utilities
Printing, Postages & Stationery
Insurance
Internet
Telephone
Equipment expended or hired
Repairs & Maintenance
Office Administration
Wages
Depreciation - Office Equipment
Mortgage Interest
Bank charges
Professional & Consultancy Fees
Accountancy Fees
Total Charitable Expenditure		 Unrestricted
Restricted
2024
2023
Total
Total
£
£
£
£
70,183
-
70,183
47,238
32,045
-
32,045
28,549
5,354
-
5,354
1,455
9,248
-
9,248
7,383
-
-
-
-
-
-
-
-
116,829
-
116,829
84,625
Unrestricted
Restricted
2024
2023
Total
Total
£
£
£
£
-
-
-
-
116,829
-
84,625
Unrestricted
Restricted
2024
2023
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
240
840
-
840
600
-
-
-
-
7,816
-
7,816
1,071
-
-
303
-
-
-
-
-
-
7,162
7,162
1,649
1,663
1,663
-
-
-
-
1,800
-
-
-
146
-
-
-
-
17,481
-
17,481
5,809
36,760
-
36,760
48,550
2,627
-
2,627
1,232
258
-
258
222
307
-
307
-
-
-
-
-
-
-
-
1,350
6,432
-
6,432
4,546
1,021
-
1,021
3,153
8,778
-
8,778
3,751
-
-
-
240
3,275
-
3,275
1,358
-
-
-
-
120
-
120
112
1,080
-
1,080
2,421
600
-
600
600
61,258
-
61,258
67,534
78,739
-
78,739
73,343

Page 8

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

6. Expenditure Raising Fund
7. Staff Costs
Management Committee did not receive remuneration.
Salaries and Wages paid
The average number of Employees		 Unrestricted
Restricted
2024
2023
£
£
£
£
-
-
-
-
-
-
-
-
2024
2023
-
240
-
-

8. Taxation

As a charity, The Redeemed Christian Church of God Faith Assembly 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 charitable objects. No tax charges have risen in the Charity.

Page 9

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

9. Tangible Fixed Assets

Land &
Office
Musical
Furnitures &
Total
Building
Equipments
Equipment
Fittings
£
£
£
£
£
COST
At 1 June 2023
-
5,431.71
-
-
5,432
Additions in period
-
7,670
-
-
7,670
At 31 May 2024
-
13,101
-
-
13,101
DEPRECIATION
At 1 June 2023
-
1,358
-
-
1,358
Charge in period
-
3,275
-
-
3,275
At 31 May 2024
-
4,633
-
-
4,633
NET BOOK VALUE
At 31 May 2024
-
8,468
-
-
8,468
NET BOOK VALUE
At 31 May 2023
4073.78
-
-
4,074
10. Debtors: Amounts falling due within one year
2024
2023
£
£
Debtors
-
1,000
-
1,000
11. Cash at Bank and at hand
2024
2023
£
£
Cash at bank
85,004
49,709
85,004
49,709		 Land &
Office
Musical
Furnitures &
Total
Building
Equipments
Equipment
Fittings
£
£
£
£
£
-
5,431.71
-
-
5,432
-
7,670
-
-
7,670		 Land &
Office
Musical
Furnitures &
Total
Building
Equipments
Equipment
Fittings
£
£
£
£
£
-
5,431.71
-
-
5,432
-
7,670
-
-
7,670
-
13,101
-		 -
13,101
-
1,358
-
-
3,275
-		 -
1,358
-
3,275
-
4,633
-		 -
4,633
-
8,468
-		 -
8,468
4073.78
-		 -
4,074
2024
2023
£
£
-
1,000
-
1,000
2024
2023
£
£
85,004
49,709
85,004
49,709

Page 10

The Redeemed Christian Church of God Faith Assembly (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

12. Creditors: Amounts falling due within one year

Accruals

2024 2023
£ £
1,200 600
1,200 600

13. Creditors: Amount falling due after one year

14. Movements in Funds
Unrestricted Funds:
General Funds
Restricted Fund:
Total Funds		 2024
2023
£
£
-
-
-
-
At 1st
At 31
June
May
2023 Income
Expenditure
2024
£
£
£
£
54,183
116,829
-78739
92,272
-
-
-		 2024
2023
£
£
-
-
-
-
54,183
116,829
78,739
-
92,272

15. Trustees' Remuneration and Expenses

No Trustees were remunerated. Under clause 5.2 of the Memorandum of Association company, and as approved by the Charity Commission.

No expenses were reimbursed to the Trustees or incured in respect of Trustees meeting expenses during the period, nor in the previous financvial year.

16. Related Parties

In the year under review and in the course of our assignment, we are satisfied that there is no transfer of economic benefits to any Trustee/Director or responsible officer of the Charity as a result of this transaction, as is the requirement of IAS 24 Related Party Disclosure.

Page 11