redeemed christian church of god ('rccg') redemption parish

Charity number: 1084772

REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') REDEMPTIONPARISH

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') REDEMPTION PARISH

CONTENTS

Page

Reference and administrative details of the charity, its trustees and advisers

1

Trustees' report

2 - 8

Independent examiner's report

9 - 10

Statement of financial activities

11

Balance sheet

12

Cash flow statement

13

Notes to the financial statements

14 - 24


REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERSFOR THE YEAR ENDED 31 DECEMBER 2015

General Overseer

Pastor E A Adeboye

Trustees

Deacon Olumuyiwa AjayiMr Jide AriyoMrs Adenike Bankole-OjoMr John Adedipe

Charity registered number

1084772

Principal office

49 Grange Park RoadLeytonLondonE10 5ER

Pastor in Charge

Pastor Janet Adedipe

Accountants

Stephen Michael AssociatesChatered Certified Accountant3 More London RiversideLondonSE1 2RE

Bankers

Barclays Bank plcP O Box 35721Hertsmere House2 Hertsmere RoadLondon E14 4WA

HSBC Bank plc15 Wellington StreetLondon SE18 6PH

Abbey National plc46/48 High Street NorthLondon E6 2HJ

Page 1


TRUSTEES' REPORT


The Trustees present their annual report together with the financial statements of for the year 1 January 2015to 31 December 2015.

The charity also trades under the name Redemption Parish.

Objectives and Activities a. POLICIES AND OBJECTIVES

The objectives of the church are:

• The advancement of the Christian faith worldwide• The relief of poverty.

Our primary objective is to seek the advancement of christian religion in accordance with preaching of the faithof the early Apostles and wherever possible, educate people using the word of God as our guide. We aim toestablish and manage schools, Bible schools, vocational Bible schools, correspondence courses, and to teachreligious knowledge in schools, institutions and the wider community.

Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. Incarrying out this review the trustees have considered the Charity Commission’s general guidance on publicbenefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

organisation of seminars in the church with proven speakers and ministers of the faith to guide members in the various aspects of life including faith, family, career and finance;

planting of churches; and support for other charities and Christian events.

c. ACTIVITIES FOR ACHIEVING OBJECTIVES

Various missionary activities Community Outreach Events Provision of welfare support to members Conferences & Events

d. PUBLIC BENEFIT STATEMENT

The Board of Trustees confirm that they have met their duties in strict compliance with the provisions of section4 and 17 of the Charities Act 2011, and have due regards to the Charity Commissions's general guidance onpublic benefit. Particular consideration has been given to the Charity Commission's supplementary publicguidance provisions on the advancement of religion for public benefit.

Page 2


TRUSTEES' REPORT (continued)FOR THE YEAR ENDED 31 DECEMBER 2015

We provide pastoral care to cover different segments of the society and diverse age and other specialisedgroups. These include

For The elderly, through our elders group; We had regular engagements with our elders. We organise birthdaycelebrations for our elders providing an opportunity for friends and family in the community to come together.We also provide ad hoc transport support to and fro their homes on a continuous basis. Our Senior Citizens teamed up with national elders to celebrate the elders’ weekend, where they areencouraged and empowered to renew the youthfulness within them.

We continue to provide moral and financial support for our members who were bereaved, most importantly thewidows among them.

The men, under the umbrella of The Good Men's Fellowship, and the women under the umbrella of The GoodWomen's Fellowship meet regularly to:

• Socialise • Share ideas, support and encourage one another • Organise seminars, conferences on varying subjects like • Families • Marriage • Relationship between teenagers and parents • Wealth creation • Debt management • Civil responsibilities • Social action initiative • Community engagement • Healthier nation (with focus on diet intake, exercise, medical check-ups) • Good neighbourliness • 21st century and social media (benefits and dangers) to mention a few. These subject areas are covered

from both spiritual and secular perspectives.

For our Young Adults, we have trained teenage teachers who are in the fore front of mentoring them.We organise workshops for our Young Adults (with qualified professionals) discussing varying subjects andprojects like:

• The benefits and dangers of use of social media • Sex education /abstinence, teenage pregnancy • Entry qualification to colleges and university • Choice of university, choice of career • Peer pressure and bullying • Different aspects of discrimination • Dangers of illicit drug and alcohol use • Entrepreneurial skills • Business start up • C V writing • I T training • Dangers of flouting the law and criminal records

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We had Leadership Training the weekend of 27th and 28th of June 2015 facilitated by I . A , a Coach andTrainer from John Maxwell Leadership Training team. On Saturday the 27th he had training for all workers andon the 28th of June for the church congregation. The Teen Church also had a special session in which theywere addressed and mentored on the subject of Life Skills and Leadership.

The Youth Church were all Camped in Church from 12 Noon of Friday 28th to Sunday 30th August 2015.Theme: ‘Branded for Christ’. It was a weekend of reflection and empowerment as they prepare for the newacademic year. It was also a time to prepare the new undergraduate for life in the universities.On Friday the 9th January 2015, the church had 7 Hours Praise Session with invited guest W. O. (a musicminister). The youth were able to showcase their talents during this time of singing. Some played the Piano andothers the Drums.

Our Central body (RCCG Central Office) set up the RCCG Drama Academy UK (RDA UK) running a Part TimeEvening & Weekend Professional Acting Course, started September 2016 till August 2017. It is aimed atdeveloping skills in acting for our youth. We are in support and are encouraging our youth to take active part.

• We continued to promote family cohesion through various seminars and in service talks on marriage and peace at home. We organised a couple of seminar on maintaining family values and strengthening the bond that exist between family members. The Couples Fellowship organised a family breakfast for all adults in Redemption Parish. This Breakfast meeting was used to increase intimacy between families which is the bed-rock of every society. Sunday the 25th of November2015, they organised what was called Friends and Family Day, it was a Celebration of Family to teach the importance of Family within thecommunity.

• CCPASS: Safeguarding Children and Vulnerable Adults Course was held in RCCG Redemption Parish on Saturday the 25th July 2015. Time: 09:15am - 01:30pm. This session attracted a large number of people from different faith denominations in the community. CCPASS are experts in delivery efficient training in Safeguarding issues.

• We contributed to good citizenship by constantly providing talks on how to be responsible citizens and residents of the United kingdom, keeping away from trouble and how to avoid falling foul of the law.

• We often generate awareness of immigration issues through seminars, notices and providing legal updates and information to those who need it in non-advisory capacities.

• All our seminars and activities were open to the general public as well as church members. • In addition to the above many recreational activities were also undertaken which particularly help the

elderly, and the young to exercise and enjoy recreational activities. In furtherance of our goal of alleviating poverty, we organised donations and support for less privileged children in the developing world, raising awareness, funds and support for them. In particular, during Christmas we allowed them to enjoy gifts from invincible friends through the Operation Christmas Child.

• We also supported the Habitation of Hope, a special charity for rehabilitation of homeless and abandonedchildren in Africa. Many of these were supported with accommodation and scholarship up to secondary school level.

• We continue to support our members that had some accommodation problem; we had to provide emergency storage to keep their belongings while they were re-housed. Also wrote letters to the Housing Association to explain the pain of some of our members that were in Temporary Housing Accommodation

• We continued our series of Counselling on Marriage, Education, Career and Immigration. In particular there was a Seminar for Parents and Teenagers regarding secondary school subject choices, preparations and university choice issues.

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Our international women’s conference the "Feast of Esther”, continues to grow in strength and bounds. In 2015the theme was “My Watch” and it attracted women leaders from across the world including Africa, Europe andUnited Kingdom. The programme teaches leading women to accomplish their goals and callings, to stand in thegap for their nations, to interact, encourage and bear each other’s burdens and to impact the church andsociety. This conference is contributing to developing women to be leaders in their communities to the benefit ofthe nation and the church.

Also, our annual Maximum Impact programme 2015 had Pastor J. T. K, (an influential speaker) of RCCGNigeria Ministering. This yearly conference has ensured that our members and the community are taught how tomaximise their potential, having maximum and positive impact on their local communities.

In collaboration with the Waltham Forest Council we have an ongoing Project called “iCAN Project”The aims of the project are:

• To inspire young people who all have the potential to be leaders of tomorrows.• To encourage young people to maximize their potential.• To empower young people living within the community.• To equip young people with life skills and knowledge that will give them the confidence to take action and

make clear and informed decisions about their future.

• To create an opportunity for young people to integrate and interact safely.The iCAN project aims to achieve this by running life skills workshops, enterprise events, career guidanceevents, mentoring sessions and fitness camps for young people aged 13-18. Over the next few months and year the iCAN Project will set out to inspire a generation of young people (mainly within East London)who will stop at nothing to achieve their dream and goals.

As part of a network of faith organisations we joined resources with Care for Family UK and sponsoreddelegates to participate in its seminar on “21st Century Parenting”.

• A special Wealth Management Course was also held where we had a guess speaker speak to youth and the adults on making and managing wealth.

• We renewed our membership with the Evangelical Alliance, an organisation that worked tirelessly to `ensure better life and better society for us all to leave in. We support the launch of their Public LeadershipProgramme and also the Home for Good – a Fostering and Adoption Campaign for the year 2015

• We worked with other Christian organisations to promote inter-faith, inter-racial non-denominational interactions.

• We also joined team with RCCG UK for the RCCG sports day held on 1st August 2015 and the Festival of Life in April and October 2015. Through these events and the platform and opportunity giving to the youth, they are meaningfully engaged spiritually and physically, thereby keeping the youths off the street. This gives them moral leadership making them useful and law-abiding citizens.

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c. VOLUNTEERS

The Church is grateful for the unstinting efforts of its volunteers who are involved in service provision. It isestimated that over 10,400 volunteer hours were provided during the year. If this is conservatively valued at£7.50 per hour, the volunteer efforts amount to over £78,000.

Achievements and performance a. 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 beretained in interest bearing accounts.

Financial review a. RESERVES POLICY

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangiblefixed assets ('the free reserves') held by the church should be 3 months of annual expenditure. The trusteesrecognises that the balance on the general fund does not reach the target level of free reserves and areconsidering ways in which additional unrestricted funds will be raised.

b. DEFICIT

The trustees are continously looking at areas of possible cost reduction where they could save money withoutnegatively affecting the quality of service provided to the members and general public. Already, the Trusteeshave taken some measures to reduce office costs and overheads while continually striving for increasedmembership and alternative funding sources to increase income.

c. PRINCIPAL FUNDING

This is provided mainly through voluntary tithes and offerings by the church members and through gift aidscheme.

Structure, governance and management a. CONSTITUTION

The parish is constituted under a Trust deed dated 27 November 2000 and is a registered charity with number1084772 on 29 January 2001.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under theterms of the Trust deed.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for any newly appointed member of the Trustees comprises an initial meeting with theChair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers andresponsibilities of the Trustees.

Page 6



d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the trustees meet regularly to manage its affairs. The church also has anadministrative and finance outsourcing contract for the day - to - day running of its non spiritual management.

e. CONNECTED CHARITIES

Redemption parish is member of the Redeemed Christian Church of God (RCCG) which has parishes all overthe world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for CommonPurposes'.

f. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to theoperations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure tothe major risks.

Plans for future periods a. FUTURE DEVELOPMENTS

The church continues to explore various ways of spreading the gospel of Christ in an effective manner. Thecharity is also looking to grow in membership and continue to develop its members to make life-changing impactin society.

TRUSTEES' RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance withapplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccountingPractice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements foreach financial year which give a true and fair view of the state of affairs of the charity and of the incomingresources and application of resources of the charity for that period. In preparing these financial statements, theTrustees are required to:

select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

charity will continue in operation.

Page 7



The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain thecharity's transactions and disclose with reasonable accuracy at any time the financial position of the charity andenable them to ensure that the financial statements comply with the Charities Act 2011, the charity (Accountsand Reports) Regulation 2008 and the provision of the trust deed.. They are also responsible for safeguardingthe assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud andother irregularities.

This report was approved by the Trustees on 30 October 2016 and signed on their behalf by:

Deacon Olumuyiwa Ajayi, Chairman

Page 8


INDEPENDENT EXAMINER'S REPORTFOR THE YEAR ENDED 31 DECEMBER 2015

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OFGOD ('RCCG') REDEMPTION PARISH I report on the financial statements of the charity for the year ended 31 December 2015 which are set out onpages 11 to 24. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's Trustees are responsible for the preparation of the financial statements, and they consider that anaudit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that anindependent examination is needed. the Association of Chartered Certified Accountants It is my responsibility to: examine the financial statements under section 145 of the 2011 Act; follow the procedures laid down in the general Directions given by the Charity Commission under section

145(5)(b) of the 2011 Act; and state 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 Commission. Anexamination includes a review of the accounting records kept by the charity and a comparison of the financialstatements presented with those records. It also includes consideration of any unusual items or disclosures inthe financial statements, and seeking explanations from you as Trustees concerning any such matters. Theprocedures undertaken do not provide all the evidence that would be required in an audit, and consequently noopinion is given as to whether the financial statements present a 'true and fair view' and the report is limited tothose matters set out in the statement below.

Page 9


INDEPENDENT EXAMINER'S REPORT (continued)FOR THE YEAR ENDED 31 DECEMBER 2015

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:

to keep accounting records in accordance with section 130 of the 2011 Act; and

to prepare financial statements which accord with the accounting records and comply with theaccounting requirements of the 2011 Act

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of thefinancial statements to be reached.

Signed: Dated: 30 October 2016

Michael Oyewobi FCCA

Stephen Michael Associates Chatered Certified Accountant 3 More London RiversideLondonSE1 2RE

Page 10


STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 31 DECEMBER 2015

Restrictedfunds

Unrestricted funds

Totalfunds

Totalfunds

Note2015

£2015

£2015

£2014

£

INCOME FROM:

Donations and capital grants 2 4,704 214,793 219,497 274,031

TOTAL INCOME 4,704 214,793 219,497 274,031

EXPENDITURE ON:

Charitable activities 13,316 198,755 212,071 254,301

TOTAL EXPENDITURE 7 13,316 198,755 212,071 254,301

NET INCOME / (EXPENDITURE) ANDMOVEMENT IN FUNDS

(8,612) 16,038 7,426 19,730

RECONCILIATION OF FUNDS:

Total funds brought forward 129,772 (17,307) 112,465 92,735

TOTAL FUNDS CARRIED FORWARD121,160 (1,269)

119,891 112,465

All activities relate to continuing operations.

The notes on pages 14 to 24 form part of these financial statements.

Page 11


BALANCE SHEETAS AT 31 DECEMBER 2015

2015 2014Note £ £ £ £

FIXED ASSETS Tangible assets 11 203,273 221,259 CURRENT ASSETS Debtors 12 31,245 63,001 Cash at bank and in hand 31,615 1,846

62,860 64,847 CREDITORS: amounts falling due within

one year 13 (48,624) (49,256) NET CURRENT ASSETS 14,236 15,591 TOTAL ASSETS LESS CURRENT LIABILITIES 217,509 236,850 CREDITORS: amounts falling due after

more than one year 14 (97,618) (124,385)

NET ASSETS 119,891 112,465

CHARITY FUNDS Restricted funds 15 121,160 129,772 Unrestricted funds 15 (1,269) (17,307)

TOTAL FUNDS 119,891 112,465

The financial statements were approved and authorised for issue by the Trustees on 30 October 2016 andsigned on their behalf, by:

Deacon Olumuyiwa Ajayi Mrs Adenike Bankole-Ojo

The notes on pages 14 to 24 form part of these financial statements.

Page 12


CASH FLOW STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2015

2015 2014Note £ £

Cash flows from operating activities Net cash provided by/(used in) operating activities 17 57,116 (11,733)

Proceeds from sale of investments (580) (15,247) Net cash used in investing activities (580) (15,247)

Cash flows from financing activities:Repayments of borrowings (26,767) (29,064) Net cash used in financing activities (26,767) (29,064)

Change in cash and cash equivalents in the year 29,769 (56,044)

Cash and cash equivalents brought forward 1,846 57,890

Cash and cash equivalents carried forward 18 31,615 1,846

Page 13


NOTES TO THE FINANCIAL STATEMENTS


1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with itemsrecognised at cost or transaction value unless otherwise stated in the relevant notes to theseaccounts. The financial statements have been prepared in accordance with the Statement ofRecommended Practice: Accounting and Reporting by Charities preparing their accounts inaccordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland(FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the UnitedKingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

Redeemed Christian Church of God ('RCCG') Redemption Parish constitutes a public benefit entityas defined by FRS 102.

First time adoption of FRS 102

These financial statements are the first financial statements of Redeemed Christian Church of God('RCCG') Redemption Parish prepared in accordance with Financial Reporting Standard 102 ‘TheFinancial Reporting Standard applicable in the UK and Republic of Ireland’ (FRS 102) and theCharities SORP 2015 (SORP 2015). The financial statements of Redeemed Christian Church ofGod ('RCCG') Redemption Parish for the year ended 31 December 2014 were prepared inaccordance with previous Generally Accepted Accounting Practice (‘UK GAAP’) and SORP 2005.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements andaccounting policy choices differ from previous UK GAAP. Consequently, the Trustees haveamended certain accounting policies to comply with FRS 102 and SORP 2015. [The Trustees havealso taken advantage of certain exemptions from the requirements of FRS 102 permitted by FRS102 Chapter 35 ‘Transition to this FRS’]

Reconciliations to previous UK GAAP for the comparative figures are included in note 19.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees infurtherance of the general objectives of the charity and which have not been designated for otherpurposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed bydonors or which have been raised by the charity for particular purposes. The costs of raising andadministering such funds are charged against the specific fund. The aim and use of each restrictedfund is set out in the notes to the financial statements.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that theincome will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant isrecognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investmentincome is receivable.

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1. ACCOUNTING POLICIES (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economicbenefit to a third party, it is probable that a transfer of economic benefits will be required insettlement and the amount of the obligation can be measured reliably. Expenditure is classified byactivity. The costs of each activity are made up of the total of direct costs and shared costs,including support costs involved in undertaking each activity. Direct costs attributable to a singleactivity are allocated directly to that activity. Shared costs which contribute to more than one activityand support costs which are not attributable to a single activity are apportioned between thoseactivities on a basis consistent with the use of resources. Central staff costs are allocated on thebasis of time spent, and depreciation charges allocated on the portion of the asset’s use.

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1.5 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimatedresidual value, over their expected useful lives on the following bases:

Freehold property - 2% straight lineMusic and church equipment - 33.33% straight lineMotor vehicles - 25% straight lineFixtures & fittings - 20% straight lineComputer equipment - 33.33% straight line

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measuredreliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.7 Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixedassets. Assets acquired by finance lease are depreciated over the shorter of the lease term andtheir useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Financeleases are those where substantially all of the benefits and risks of ownership are assumed by thecharity. Obligations under such agreements are included in creditors net of the finance chargeallocated to future periods. The finance element of the rental payment is charged to the Statementof financial activities so as to produce a constant periodic rate of charge on the net obligationoutstanding in each period.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.Prepayments are valued at the amount repaid net of any trade discounts due.

1.9 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a shortmaturity of three months or less from the date of acquisition or opening of the deposit or similaraccount.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a pastevent, it is probable that a transfer of economic benefit will be required in settlement, and theamount of the settlement can be estimated reliably. Liabilities are recognised at the amount that thecharity anticipates it will pay to settle the debt or the amount it has received as advanced paymentsfor the goods or services it must provide. Provisions are measured at the best estimate of theamounts required to settle the obligation. Where the effect of the time value of money is material,the provision is based on the present value of those amounts, discounted at the pre-tax discountrate that reflects the risks specific to the liability. The unwinding of the discount is recognised withininterest payable and similar charges.

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1.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financialinstruments. Basic financial instruments are initially recognised at transaction value andsubsequently measured at their settlement value with the exception of bank loans which aresubsequently measured at amortised cost using the effective interest method.

2. INCOME FROM DONATIONS AND LEGACIES

Restrictedfunds

Unrestricted funds

Totalfunds

Totalfunds

2015£

2015£

2015£

2014£

Donations 4,704 214,793 219,497 274,031

In 2014, of the total income from donations and legacies, £232,865 was to unrestricted funds and£41,166 was to restricted funds

2015£

2014£

Donations

Planned giving 72,169 21,975Income tax recoverable - gift aid 33,024 43,179Collection at all services 82,294 169,382Sundry donations 27,306 6,458Building fund 4,704 2,379

Total 219,497 243,373

3. LIST OF INSTITUTIONAL DONATIONS PAYABLE

Name of institution Donations description2015

£2014

£

United KingdomAdvancement of christian

faith 24,130 31,725

24,130 31,725

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4. DIRECT COSTS

Basis ofAllocation

Advancement of

ChristianFaith

Total2015

Total2014

£ £ £

Visiting speakers expenses Actual 8,652 8,652 30,150Rent and hall hire Actual 28,622 28,622 40,170Professional fee Actual 35,178 35,178 33,922Bookstalls Actual 1,670 1,670 2,450Conferences Actual 1,772 1,772 1,586Mission expenses Actual 3,578 3,578 163Video production Actual - - 2,643Wages and salaries Actual 2,200 2,200 -

81,672 81,672 111,084

In 2014, the charity incurred the following Direct costs: £111,084 in respect of Advancement of Christian Faith

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5. SUPPORT COSTS

Basis ofAllocation

Advancement of

ChristianFaith

Total2015

Total2014

£ £ £

Premises costs Actual 2,449 2,449 2,912Communication costs Actual 9,854 9,854 5,821Refreshments Actual 3,973 3,973 8,030Advertising and publications Actual 250 250 1,782Repairs and maintenance Actual 1,662 1,662 1,111Travelling expenses Actual 16,613 16,613 14,074Insurance Actual 1,080 1,080 1,115Staff training Actual 1,575 1,575 735Bookkeeping & accounting Actual 14,575 14,575 13,000Sundry church expenses Actual 478 478 305Bank charges Actual 2,527 2,527 2,196Children and youth expenses Actual 1,156 1,156 1,469Hire of vehicles and equipment Actual 2,384 2,384 1,805Bank loan interest payable Actual 4,881 4,881 5,912Gifts to parishioners Actual 4,430 4,430 2,746Wages and salaries Actual 16,169 16,169 25,257Depreciation Actual 18,566 18,566 20,282

102,622 102,622 108,552

In 2014, the charity incurred the following Support costs: £108,552 in respect of Advancement of Christian Faith

6. GOVERNANCE COSTS

Restrictedfunds

Unrestrictedfunds

Totalfunds

Totalfunds

2015£

2015£

2015£

2014£

Independent examiner's fees - 3,647 3,647 2,940

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7. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE

Staff costs Depreciation Other costs Total Total2015

£2015

£2015

£2015

£2014

£

Donation - - 24,130 24,130 31,725Advancement of Christian

Faith 18,369 18,566 147,359 184,294 219,636

Charitable activities 18,369 18,566 171,489 208,424 251,361

Expenditure on

governance - - 3,647 3,647 2,940

18,369 18,566 175,136 212,071 254,301

8. NET INCOMING RESOURCES/(RESOURCES EXPENDED)

This is stated after charging:

2015 2014 £ £

Depreciation of tangible fixed assets:- owned by the charity 18,566 20,282

Independent Examiners' remuneration 3,647 2,940

During the year, no Trustees received any remuneration (2014 - £NIL).During the year, no Trustees received any benefits in kind (2014 - £NIL).During the year, no Trustees received any reimbursement of expenses (2014 - £NIL).

9. INDEPENDENT EXAMINERS' REMUNERATION

The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,188 (2014 -£1,764), and Other services of £1,459(2014 - £1,176).

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10. STAFF COSTS

Staff costs were as follows:

2015 2014 £ £

Wages and salaries 18,369 25,257

The average number of persons employed by the charity during the year was as follows:

No. No.

Church administration 2 2

No employee received remuneration amounting to more than £60,000 in either year.

11. TANGIBLE FIXED ASSETS

Land andbuildings

Other fixedassets Total

£ £ £

Cost

At 1 January 2015 292,109 119,170 411,279Additions - 580 580

At 31 December 2015 292,109 119,750 411,859

Depreciation

At 1 January 2015 93,472 96,548 190,020Charge for the year 5,842 12,724 18,566

At 31 December 2015 99,314 109,272 208,586

Net book value

At 31 December 2015 192,795 10,478 203,273

At 31 December 2014 198,637 22,622 221,259

The net book value of assets held under finance leases or hire purchase contracts, included above, areas follows:

2015 2014 £ £

Motor vehicles 5,807 11,613

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12. DEBTORS

2015 2014 £ £

Other debtors 31,245 63,001

13. CREDITORS: Amounts falling due within one year

2015 2014 £ £

Bank loans and overdrafts 22,162 24,487Net obligations under finance leases and hire purchase contracts 6,017 6,017Other taxation and social security 2,920 981Other creditors 14,945 14,831Accruals and deferred income 2,580 2,940

48,624 49,256

14. CREDITORS:Amounts falling due after more than one year

2015 2014 £ £

Bank loans 95,453 116,203Net obligations under finance leases and hire purchase contracts 2,165 8,182

97,618 124,385

Creditors include amounts not wholly repayable within 5 years as follows:

2015 2014 £ £

Repayable by instalments 95,453 116,203

The loan outstanding is a repayment mortgage in respect of the the church building at 49 Grange ParkRoad Leyton E10. The applicable rate of interest is 8%.

Obligations under finance leases and hire purchase contracts, included above, are payable as follows:

2015 2014 £ £

Between one and five years 2,165 8,182

Bank mortgage loan outstanding is secured on the church building at 49 Grange Park Road, London E105ER.

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15. STATEMENT OF FUNDS

BroughtForward Income

Expenditure

CarriedForward

£ £ £ £

Unrestricted funds

General Funds (17,307) 214,793 (198,755) (1,269)

Restricted funds

Freehold property 101,786 - (8,612) 93,174Building Fund - 4,704 (4,704) -Zonal fund 19,756 - - 19,756Camp Fund 7,522 - - 7,522Habitation of Hope 708 - - 708

129,772 4,704 (13,316) 121,160

Total of funds 112,465 219,497 (212,071) 119,891

The freehold property fund was establised to finance the purchase of the church premises and representsfuture amortisations charge.

Zonal fund represents unexpended zonal collections

Camp fund represents collection towards camp project in Nigeria

Habitation of Hope represents unexpended collection.

SUMMARY OF FUNDS

BroughtForward Income

Expenditure

CarriedForward

£ £ £ £

General funds (17,307) 214,793 (198,755) (1,269)Restricted funds 129,772 4,704 (13,316) 121,160

112,465 219,497 (212,071) 119,891

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16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restrictedfunds

Unrestricted funds

Totalfunds

Totalfunds

2015£

2015£

2015£

2014£

Tangible fixed assets 121,160 82,113 203,273 221,259Current assets - 62,860 62,860 64,847Creditors due within one year - (48,624) (48,624) (49,256)Creditors due in more than one year - (97,618) (97,618) (124,385)

121,160 (1,269) 119,891 112,465

17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOWFROM OPERATING ACTIVITIES

2015 2014 £ £

Net income for the year (as per Statement of financial activities) 7,426 19,730

Adjustment for:Depreciation charges 18,566 20,282Decrease/(increase) in debtors 31,756 (41,091)Decrease in creditors (632) (10,654)

Net cash provided by/(used in) operating activities 57,116 (11,733)

18. ANALYSIS OF CASH AND CASH EQUIVALENTS

2015 2014 £ £

Cash in hand 31,615 1,846

Total 31,615 1,846

19. FIRST TIME ADOPTION OF FRS 102

It is the first year that the charity has presented its financial statements under SORP 2015 and FRS 102.The following disclosures are required in the year of transition. The last financial statements preparedunder previous UK GAAP were for the year ended 31 December 2014 and the date of transition to FRS102 and SORP 2015 was therefore 1 January 2014. As a consequence of adopting FRS 102 and SORP2015, a number of accounting policies have changed to comply with those standards.

The policies applied under the charity's previous accounting framework are not materially different to FRS102 and have not impacted on funds or net income/expenditure.

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redeemed christian church of god ('rccg') redemption parish

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