REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) FAITH CHAPEL
1. Advancement of Religion, and2. Relief of Poverty.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net income of £3,738 for the year ended 31 December 2024, resulting in total unrestricted funds of £243,752. However, the balance sheet reveals significant long-term liabilities of £342,471, primarily bank loans, which exceed the value of tangible fixed assets. The trustees confirm adequate resources for going concern, but the charity operates with a substantial net liability position relative to its current assets.
What the accounts disclose
Trustees
- Dr Adeyinka Oduwole
- Olufemi Olukayode Adebajo
- STELLA OLUFUNKE OLATUNDE
- VIVIENNE AZIBA
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £183k | £180k |
| 31/12/2023 | £164k | £163k |
| 31/12/2022 | £127k | £136k |
| 31/12/2021 | £133k | £133k |
| 31/12/2020 | £118k | £118k |
Common questions
Is REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) FAITH CHAPEL financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net income of £3,738 for the year ended 31 December 2024, resulting in total unrestricted funds of £243,752. However, the balance sheet reveals significant long-term liabilities of £342,471, primarily bank loans, which exceed the value of tangible fixed assets. The trustees confirm adequate resources for going concern, but the charity operates with a substantial net liability position relative to its current assets. Its FY2024 accounts were independently examined.
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Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) FAITH CHAPEL | £183k | — | 0 | unclear | — | no doubt |
| REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') RENEWAL GROUND PARISH | £109k | — | 0 | above | — | no doubt |
| REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') (INSPIRATION HOUSE) | £481k | Under £60,000 | 0 | unclear | — | no doubt |
| THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) CITY OF PRAISE | £213k | — | 0 | unclear | — | no doubt |
| THE REDEEMED CHRISTIAN CHURCH OF GOD, CITY OF TRUTH | £116k | — | 0 | unclear | — | no doubt |
| REDEEMED CHRISTIAN CHURCH OF GOD ("RCCG") MOUNT ZION | £229k | — | 0 | above | — | no doubt |