Charity number:1207345
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH Report and Accounts for the period ended 31 December 2024
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1207345
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH Reports and Accounts
CONTENTS
| Charity Information | 1 |
|---|---|
| Trustees annual report | 2-4 |
| Accountant's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to Accounts | 8-10 |
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH Charity Information
General Overseer
Pastor E. A. Adeboye
Trustees
Mr Abiodun Bamgbala Mr Olasoji Sonubi Mrs Adeola Rosemary Lawal
Minister In Charge
Pastor Olugbenga Taiwo
Charity Registration No:
1207345
Contact Address
Holy Family Church Building Palmer Avenue Gravesend DA12 5DQ
Bankers
Barclays Bank
Accountants
Toda Consult 19 York Road Nothfleet Kent DA11 9PU
Page 1
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees submit their annual report and the financial statements of The Redeemed Christian Church of GodRCCG Solution Ground Parish (the church) for the year ended 31 Dec 2024. The Trustees confirm that the annual report and financial statements of the church comply with current statutory requirements, the requirements of the church's governing documents and the provisions of the Statement of Recommended Practise (SORP) "Accounting and Reporting by Charities" issued in March 2005.
Structure, governance and management
a. CONSTITUTION
The church is constituted under a Trust deed dated 01 January 2020 and has a registered charity no 1207345.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.
d. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees.
e. RELATED PARTY RELATIONSHIPS
RCCG Solution Ground Parish is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.
f. RISK MANAGEMENT
The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church, and are satisfied that systems are in place to mitigate our exposure to the major risks.
Objectives and Activities
a. POLICIES AND OBJECTIVES
The objects of the Charity are:
-
The advancement of the Christian faith worldwide; and
-
The relief of poverty
b. STRATEGIES FOR ACHIEVING OBJECTIVES
The church has adopted the following strategies for achieving the above objectives:
- organising seminars and conferences in the church with proven speakers and ministers of the faith to guide members in the various aspects of the Christian faith; and
*support for other charities and Christian events.
C. ACTIVITIES FOR ACHIEVING OBJECTIVES
*Community Outreach Events
*Provision of welfare support to members
Page 2
d. GRANT MAKING POLICIES
Under the Common Purposes Agreement (see above), RCCG Solution Ground Parish has agreed to make an annual contribution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation who are in need. This is done at the discretion of the trustees.
e. VOLUNTEERS
The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 1500 volunteer hours were provided during the year. If this is conservatively valued at £15.00 an hour the volunteer effort amounts to over £22,500.
Achievements and performance
a. REVIEW OF ACTIVITIES
We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed.
b. INVESTMENT POLICY AND PERFORMANCE
The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.
Financial review
The charity's financial statement for the year ended 31 December 2024 shows a net decrease in fund of £17,220
The value of the charity's net assets at 31 December 2024 was a surplus of £17,220.
Reserves Policy
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
b. PRINCIPAL FUNDING
This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges and donations are also taken for specific projects.
Plans for the future
a. FUTURE DEVELOPMENTS
The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life- changing impact in society.
Page 3
Trustees' Responsibilities in Relation to the Financial Statements
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and regulations.
The Charities Act 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 surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently; b) Make judgments and estimates that are reasonable and prudent;
c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature:
Name: Mr Abiodun Bamgbala
Date:
Page 4
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RCCG SOLUTION GROUND PARISH
I report on the accounts of the Trust for the period ended 31 December 2024, which are set out on pages 6 to 10.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the 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 you as 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:
-
Which gives me reasonable cause to believe that any material respect the requirements:
-
to keep accounting records in accordance with section 41 of the Act, and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
Have not been met: or
- To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
Oludare Agbola Toda Consult Accountants 19 York Road Northfleet OLUDARE AGBOLA Kent DA11 9PU
Page 5
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH Statement of Financial Activities for the year ended 31 December 2024
| 2024 | 2024 | 2024 | ||
|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | |
| £ | £ | £ | ||
| Incoming Resources | ||||
| Incoming resources from generated funds: | ||||
| Voluntary income: donations | 2 | 45,770 | - | 45,770 |
| Grants | 3 | - | - | - |
| Total Incoming Resources | 45,770 | - | 45,770 | |
| Resources Expended | ||||
| Charitable activities | 4 | 27,436 | - | 27,436 |
| Governance costs: | 5 | 1,114 | - | 1,114 |
| Total Resources expended | 28,550 | - | 28,550 | |
| Net Incoming/(Outgoing) Resources for the year | 17,220 | - | 17,220 | |
| Total fund at 01 January 2024 | - | - | - | |
| Total funds at 31 December 2024 | 7 | 17,220 | - | 17,220 |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 6
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH Balance sheet as at 31 December 2024
| Notes FIXED ASSETS Tangible Fixed Assets 8 CURRENT ASSETS Debtors 9 Cash in Hand/ Bank CREDITORS: 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amount falling due more than a year NET ASSETS ACCUMULATED FUNDS Restricted 11 Unrestricted 11.1 TOTAL FUNDS Amount falling due within a year |
£ - 14,366 |
2024 £ 3,254 |
|---|---|---|
Approved by the Trustees and Signed on their behalf:
Signature:
Name: Mr Abiodun Bamgbala
Date:
Page 7
THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) SOLUTION GROUND PARISH Notes to the financial statements for the period ended 31 December 2024
ACCOUNTING POLICIES
1.1 Basis of preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007).The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church 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 which have been raised by the Church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.
1.3 Incoming resources
These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted-funds.
| 2. Voluntary Income: Donations Tithes & Offerings Interest 3. Grants Grants |
2024 £ 44,620 1,150 |
|---|---|
| 45,770 | |
| 2024 £ - |
|
| - |
4.CHARITABLE ACTIVITIES- (Direct charitable expenditure Unrestricted)
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| support of that activity where material. | |
|---|---|
| 2024 | |
| - | |
| Rent & Rates | 6,955 |
| Food bank expenses | 200 |
| Workers training expenses | 750 |
| Charity Donations & Gifts | 540 |
| RCCG Central Office | 550 |
| RCCG Provincial dues | 200 |
| WEM | 3,150 |
| Honorarium | 1,200 |
| Hospitality and welfare expenses | 1,268 |
| Choir Expenses | 209 |
| Multi-Media and communication expenses | 230 |
| Printing, postage & stationeries | 766 |
| Subscriptions, Licences | 642 |
| Community Christmas expenses | 1,000 |
| Anniversary expenses | 3,799 |
| Religious retreats and conferences | 4,169 |
| Children and youth expenses | 1,515 |
| Sunday School and religious books | 294 |
27,436
Page 8
5. GOVERNANCE COSTS
| Accountancy fees Other professional fees Depreciation 5.1 NET MOVEMENT IN FUNDS FOR THE YEAR The net movement in funds for the year is stated after charging Depreciation of tangible fixed assets Legal & Professional fees |
2024 400 - 714 |
|---|---|
| 1,114 | |
| 2024 £ 714 400 |
|
| 1,114 |
6.DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Music equipment 7. FUNDS At 1 January Surplus/(Deficit) for the year At 31 December |
18%- reducing balance Unrestricted Restricted Total Funds Funds Funds 2024 2024 2024 £ £ £ - - - 17,220 - 17,220 17,220 - 17,220 |
|---|---|
8. FIXED ASSETS
| 8. FIXED ASSETS | ||
|---|---|---|
| COST As at 1 Jan 2024 Additions At 31 December 2024 Depreciation As at 1 Jan 2024 Charge for the year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 9. DEBTORS Debtors Deposit for Rent 10.CREDITORS:AMOUNTS FALLING DUE Accountancy fees |
Church media Equipment Motor Vehicle Total £ £ £ - - - 3,968 - 3,968 |
|
| 3,968 714 |
- 3,968 - - 714 |
|
| 714 3,254 |
- 714 - 3,254 |
|
| - | - - |
|
| WITHIN ONE YEAR | 2024 £ - - - 2024 £ 400 400 |
Page 9
11. UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
11.1 RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 10