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2024-10-21-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) DIVINE THRONE, MIDDLESBROUGH

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 21[st] October 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG)

DIVINE THRONE, MIDDLESBROUGH

Page
CORPORATE INFORMATION 3
REPORT OF THE BOARD OF TRUSTEES 4 – 6
INDEPENDENT EXAMINER’S REPORT 7
STATEMENT OF FINANCIAL ACTIVITIES 8
STATEMENT OF FINANCIAL POSITION 9
ACCOUNTING POLICIES 10
NOTES 11 -13

2

CORPORATE INFORMATION

Charity Registration Number: 1206583 Principal Address: Unit 1 Bede House House 66-67 Corporation Road Middlesbrough TS1 1LY General Overseer: Pastor E. A. Adeboye Board of Trustees: The trustees who served during the period were as follows: Mr Victor Odekunle - Chairperson Mrs Oluwatoyin Kikelomo Arohunmolase - Member Mr Deji Tafa - Member Mr Abiodun Jonathan Adewusi - Member Mrs Margaret Adegite - Member

Minister-in-Charge: Pastor Felix Oyeniran Arohunmolase

3

REPORT OF THE BOARD OF TRUSTEES

The trustees present their report with the financial statements of the charity for the year ended 16[th ] January 2025. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.

Public Benefit Statement

The Trustees confirm that they have complied with the duty in section 4 of the Charites Act 2011 to have due regard to the Charity Commission’s guidance on public benefit "Charites and Public Benefit".

Governing Document

The charity is an unincorporated association governed by a constitution. Eligibility for members of charity and members of board of trustees is governed by the constitution.

There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

Organisation Structure

The church is organised such that the trustees meet at regular intervals to manage its affairs. The day to day activities of the church is administered by the Minister-in-charge:-

Pastor Felix Oyeniran Arohunmolase

Volunteers

Many volunteers sacrifice their time to help with the routine activities of the church. We are greatly indebted to these volunteers for their unwavering commitment and support.

Appointment of New Trustees

Trustees are appointed by strict spiritual guidelines and biblical qualities that mirror Christ-like attributes. There was no trustees’ remuneration or other benefits.

Mr Victor Odekunle - Chairperson
Mrs Oluwatoyin Kikelomo Arohunmolase - Member
Mr Deji Tafa - Member
Mr Abiodun Jonathan Adewusi - Member
Mrs Margaret Adegite - Member

Risk Management

The trustees actively review the major risks which the charity faces on a regular basis. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks.

4

Related Parties

RCCG Divine Throne is a member of Redeemed Christian Church of God (RCCG) which has parishes in many countries of the world. The relationship between the parishes and RCCG is governed by an agreement for common purposes.

Principal Funding Sources

The sources of fund are provided mainly through tithes and offerings by church members as well as gift aid.

Objects and Activities

The principal object is the advancement of Christian Faith worldwide and the relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve its objective, the charity adopted the following strategies;

The activities for achieving its objectives include:

Achievements and Future Developments

This year we have successfully share our Christian faith by promoting positive values to reduce social vices among the youths in our communities, providing support for struggling families and many more community-oriented events.

As we pursue life transforming programmes and embark on spreading the gospel of Christ, we anticipate transformation in peoples’ life and growth in membership that will lead to planting of more parishes.

Indeed, the present level of funding is sufficient to support the continuation of the church objectives.

Financial Reviews

During the period, the total of sum £89,376 was received in voluntary income. Total resources expended was £56,880 thus resulting in operating income of £42,619. Cash in bank at the end of the period was £30,300.

5

Trustees’ Responsibilities

The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the charity for the year. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accrual’s basis and have been examined by an independent examiner, whose report is also appended.

This report was approved by the Board of Trustees and signed on their behalf by:

6

INDEPENDENT EXAMINER’S REPORT

Report to the trustees/members of: The Redeemed Christian Church of God (RCCG), Divine Throne, Middlesbrough On accounts for the year ended: 21[st] October 2024, set out on pages 8 - 13 Charity Number: 1206583

Respective Responsibilities 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 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

It is my responsibility to:

Basis of the Independent Examiner’s Report

My examination was carried out in accordance with the 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 include consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements

  2. to keep accounting records in accordance with Section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

Have not been met; or

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

Signed: O.A. Date: 17/03/2025

Name: Olalekan Aladesanmi, FCCA

Address: 1 Hendon, Road, Sunderland, SR1 2HB

7

STATEMENT OF FINANCIAL ACTIVITIES

Year Ending 21[st] October 2024

Notes
INCOMING RESOURCES
Donations, Legacies and similar
incoming resources
2
Activities in furtherance of charity's
object
3
Total Incoming Resources
RESOURCES EXPENDED
Grants Paid
4
Costs of activities for Charitable
objectives
5
Support costs
6
Management and Governance Cost
7
Total Resources Expended
Net (Resources expended/Incoming
Resources)
Total Funds brought forward
Total Funds carried forward		 2025
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
89,376 -
89,376
- - -
89,376 -
89,376
4,062 -
4,062
21,454 -
21,454
27,478 -
27,478
3,885-
3,885
56,880 -
56,880
32,496 -
32,496
17,990-17,990
50,486- 50,486

8

STATEMENT OF FINANCIAL POSITION

Year Ending 21[st] October 2024

Notes
Non-current Assets
Tangible Assets
8
Current Assets
Receivables
Cash in Bank
Short Term Liabilities
Creditors (amount falling due in one year)
Net Current Assets
Net Assets
Charity Funds
Unrestricted
Restricted
Total Charity Funds
9		 2025
Total
Funds
£
16,346
3,841
30,300
34,140
-
34,140
50,486
50,486
-
50,486

The financial statements were approved by the Board of Trustees on ……20/03/2025………………. and were signed on its behalf by:

9

ACCOUNTING POLICIES

1. Accounting Policy

The fundamental accounting policies, all of which have been consistently applied throughout the year, are set out below:

(a) Scope and Basis of Preparation

The financial statements of Solution Assembly have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

(b) Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.

(c) Incoming Resources

All incoming resources are accounted for when the Charity is legally entitled to the funds and the amount can be quantified with reasonable accuracy.

(d) Resources Expended

All expenditure is accrued for on accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

(e) Cash flow

The financial statements do not include a cash flow statement because the church, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective June 2002).

(f) Tangible Fixed Assets and Depreciation

Depreciation is charged on an annual rate on a reducing balance basis in order to write off each asset over its estimated useful life.

Asset Category Annual Rate
Motor Vehicles 10% on cost
Fixtures and Fittings 20% on cost
Equipment 20% on cost

(g) Taxation

The charity is exempt from corporation tax on its charitable activities.

10

NOTES

2. Donation, Legacies and Similar Incoming
Resources
Tithes
Offering
Thanksgiving
First Fruits
Seed of faith
Welfare
Kingdom Partners
Anniversary
Others		 2025
Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
61,672
-
61,672
16,776
-
16,776
1,716
-
1,716
245
-
245
500
-
500
238
-
238
7,363
-
7,363
230
-
230
636
-
636
89,376
-
89,376
3. Activities in Furtherance of Charity Object
Grant Received - Gift aid scheme
4. Grants Paid (Institutional and Non-
institutional)
RCCG - World Evangelical Mission
RCCG - Central Office Fund
RCCG Area contribution
Evangelical Support
Special programs (Youth events; Men's conference)
5. Cost of Activities for Charitable Objectives
Rent
Building repairs
Local council rates		 2025
Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
-
-
-
-
-
-
2025
Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
-
- -
-
- -
850
-
850
393
-
393
2,819
-
2,819
4,062
-
4,062
2025
Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
14,309
- 14,309
7,142
-
7,142
3
-
3
21,454
-
21,454

2025

11

6. Support Costs
Utilities
Books/Postage/Stationeries
Travel /Transport
Vehicle Repairs
Welfare/Hospitality
Relief fund
Food bank
Printing
Road tax
Fuel
Vehicle Insurance
IT expenses - internet, website and mobile
Decoration
Accommodation
Parking fees and penalties
Sundry expenses
Depreciation		 Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
115
-
115
707
-
707
3,246
-
3,246
1,271
-
1,271
11,002
-
11,002
2,945
-
2,945
- 2,081
- 2,081
980
-
980
259
-
259
2,982
-
2,982
1,263
-
1,263
458
-
458
200
-
200
336
-
336
236
-
236
328
-
328
3,233
-
3,233
27,478
-
27,478
7. Management and Governance Cost
Retreat/Training
Accounting fees
Legal fees
Honourarium		 2025
Unrestricted
Funds
Restricted
Funds
Total Funds
£
£
£
1,500
-
1,500
925
-
925
460
-
460
1,000
-
1,000
3,885
-
3,885

8. Non-current Assets: Tangible Assets

Cost
As at 17 January 2024
Additions
At 17 October 2024
Depreciation
As at 17 January 2024
Charge for the year
At 17 October 2024
Net Book Value
At 17 October 2024		 Motor
Vehicle
Fixtures &
Fittings
Equipment
Total
£
£
£
3,700
909
6,788
11,397
3,500
2,649
3,942
10,091
7,200
3,558
10,729
21,488
370
182
1,358
1,909
683
675
1,874
3,233
1,053
857
3,232
5,142
6,147
2,701
7,498
16,346

12

9. Movements in funds

9. Movements in funds
Unrestricted Funds
General Funds
Restricted Funds
Restricted
Total Funds		 At
17/01/2024
net
movement
in funds
At
21/10/2024
£
£
£
17,990
32,496
50,486
- - -
17,990
32,496
50,486

13