**REGISTERED CHARITY NUMBER: 1000059** ## REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ## FOR ## CHRISTIAN ACTION FAITH MINISTRIES CHRISTIAN ACTION FAITH MINISTRIES ## CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|12| |**Detailed Statement of Financial Activities**|13|to|14| CHRISTIAN ACTION FAITH MINISTRIES ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** 1.To reach out and impact our communities with the gospel and power of Jesus Christ through outreach; taking Jesus outside the walls of the church. 2. To develop ministries within the ministry, identifying, equipping and releasing people to effectively fulfil their calling. 3. Church planting to establish model churches that preserve the integrity of the person and the works of Jesus Christ in our communities. ## **Public benefit** The charity has continued to provide benefits to the public in the manner describe below. 1. Organising Sunday Service for religious worship and teaching 2. Organising Community outreach events and Evangelism 3. Provision of welfare and support for members ## **FUTURE PLANS** The church aims in future to extend its activities to all groups in the community through seminars and workshops targeting the development of the total man spiritually, morally, socially and financially. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1000059 ## **Principal address** DEVONSHIRE HOUSE 582 HONEYPOT LANE STANMORE Middlesex HA7 1JS ## **Trustees** J O AINABE Chairperson DR I ACQUAH-HAYFORD MS S OKUDZETO DR M E ADDO D K WRIGHT (resigned 30.6.2023) REV D A ANTWI DR S M NTI (appointed 26.6.2023) ## **Independent Examiner** SYMON LAWSON ABUDEY Abudey & Company First Floor 14-16 Powis Street Woolwich London SE18 6LF Page 1 CHRISTIAN ACTION FAITH MINISTRIES ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 13th November, 2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by: Jonathan O Ainabe ........................................................................ J O AINABE - Trustee Page 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRISTIAN ACTION FAITH MINISTRIES ## **Independent examiner's report to the trustees of CHRISTIAN ACTION FAITH MINISTRIES** I report to the charity trustees on my examination of the accounts of CHRISTIAN ACTION FAITH MINISTRIES (the Trust) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of International Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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. SYMON LAWSON ABUDEY The Association of International Accountants Abudey & Company First Floor 14-16 Powis Street Woolwich London SE18 6LF 23 October 2024 Page 3 CHRISTIAN ACTION FAITH MINISTRIES ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
4
Missionary & Charitable Giving
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
13
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
473,421
413,039
2,700
34,469
450,208
23,213
1,024,302
1,047,515
119,467
1,166,982|Restricted
fund
£
-
-
-
-
-
-
(1,024,302 )
(1,024,302 )
1,024,302
-|2023
Total
funds
£
473,421
413,039
2,700
34,469
450,208
23,213
-
23,213
1,143,769
1,166,982|2022
Total
funds
£
370,244
416,598
11,450
38,852
466,900
(96,656)
-
(96,656)
1,240,425
1,143,769| |---|---|---|---|---| The notes form part of these financial statements Page 4 CHRISTIAN ACTION FAITH MINISTRIES ## BALANCE SHEET ## 31 DECEMBER 2023 |Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
10
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds:
General fund
Restricted funds:
Restricted Fund
**TOTAL FUNDS**|Unrestricted
fund
£
18,578
100,030
1,080,004
1,180,034
(31,630)
1,148,404
1,166,982
1,166,982|Restricted
fund
£
-
-
-
-
-
-
-
-|2023
Total
funds
£
18,578
100,030
1,080,004
1,180,034
(31,630)
1,148,404
1,166,982
1,166,982
1,166,982
-
1,166,982|2022
Total
funds
£
23,903
113,694
1,038,626
1,152,320
(32,454)
1,119,866
1,143,769
1,143,769
119,467
1,024,302
1,143,769| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 13th November, 2024 Jonathan O Ainabe ............................................. J O AINABE - Trustee The notes form part of these financial statements Page 5 CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Short leasehold Improvements - 20% on cost Musical & Event Equipment - 25% on reducing balance Fixtures and fittings - 15% on reducing balance Motor vehicles - 25% on reducing balance Church Equipment - 20% on reducing balance ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Operations Account - for the depositing and expending of funds for the financial activities of Maida Vale Branch. Project Account - for the depositing and expending of funds for Wembley Branch, South Branch, Milton Keynes and Uxbridge Branch. Merchandising Account - for the depositing and expending of funds for the Merchandising Department. Reserve Account - Savings and other projects Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Capital Deposit Account - for deposits of funds for the building project Page 6 continued... CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ## **2. DONATIONS AND LEGACIES** |Unrestricted
funds
£
Tithes & Offering-Maida Vale
206,481
HMRC Charities-Gift aid
40,299
Donation-Church Building
150
Tithes & Offering South Branch
36,787
Tithes & Offering Wembley Park
18,409
Tithes &Offering Milton Keynes
103,166
Interest
13,811
Tithe & Offering East London
33,808
Tithes & Offering Birmingham
-
Tithes & Offering Northampton
20,510
Other Income
-
473,421
**3.**
**RAISING FUNDS**
**Raising donations and legacies**
Unrestricted
funds
£
Rent and Expenses- Birmingham
-
Rent & Expenses- Northampton
26,352
Rent and Expenses-East London
2,822
Rent & Expenses-Milton Keynes
106,652
Rent & Expenses-Wembley
6,334
Rent & Expenses-South Branch
79,591
Honorarium
1,922
Printing and Reproduction
-
Equipment Rental
15,431
Salaries and Wages
77,543
Employer's National Insurance
49
Rent and Rates
88,068
Telephone and Internet
1,040
Postage and stationery
-
Motor & Vehicle Expenses
283
Travel & transport expenses
5,083
Pension
1,869
Repairs and maintenance
-
413,039|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2023
Total
funds
£
206,481
40,299
150
36,787
18,409
103,166
13,811
33,808
-
20,510
-
473,421
2023
Total
funds
£
-
26,352
2,822
106,652
6,334
79,591
1,922
-
15,431
77,543
49
88,068
1,040
-
283
5,083
1,869
-
413,039|2022
Total
funds
£
188,128
-
1,110
41,467
10,544
54,297
2,242
32,800
1,631
3,285
34,740| |---|---|---|---| ||||370,244| ||||2022
Total
funds
£
9,467
30,564
2,400
59,451
10,812
50,205
39,018
402
14,149
91,545
2,569
57,030
1,827
296
6,172
18,107
2,622
19,962| ||||416,598| continued... Page 7 CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ## **4. CHARITABLE ACTIVITIES COSTS** Missionary & Charitable Giving Direct Costs £ 2,700 ## **5. TRUSTEES' REMUNERATION AND BENEFITS** Trustees remuneration for the year ended 2022 was £11,718. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **6. STAFF COSTS** 2023 2022 £ £ Wages and Salaries 103,621 129,880 Employers NIC 6,872 6,623 ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Missionary & Charitable Giving
Other
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
366,964
416,598
11,450
38,853
466,901
(99,937)
65,500
(34,437)
153,904
119,467|Restricted
fund
£
3,280
-
-
(1)
(1)
3,281
(65,500)
(62,219)
1,086,521
1,024,302|Total
funds
£
370,244
416,598
11,450
38,852
466,900
(96,656)
-
(96,656)
1,240,425
1,143,769| |---|---|---|---| continued... Page 8 CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ## **8. TANGIBLE FIXED ASSETS** |Short
leasehold
Improvements
£
**COST**
At 1 January 2023 and 31 December 2023
31,081
**DEPRECIATION**
At 1 January 2023
31,081
Charge for year
-
At 31 December 2023
31,081
**NET BOOK VALUE**
At 31 December 2023
-
At 31 December 2022
-
Motor
vehicles
£
**COST**
At 1 January 2023 and 31 December 2023
64,584
**DEPRECIATION**
At 1 January 2023
54,343
Charge for year
2,560
At 31 December 2023
56,903
**NET BOOK VALUE**
At 31 December 2023
7,681
At 31 December 2022
10,241
**9.**
**DEBTORS**
Amounts falling due within one year:
Headquarters Support-Retreat Centre
Amounts falling due after more than one year:
HMRC Gift Aid
Aggregate amounts|Musical &
Event
Equipment
£
108,737
102,259
1,620
103,879
4,858
6,478
Church
Equipment
£
81,868
80,506
272
80,778
1,090
1,362
2023
£
100,030
-
100,030|Fixtures
and
fittings
£
11,120| |---|---|---| |||5,298
873| |||6,171| |||4,949| |||5,822| |||Totals
£
297,390| |||273,487
5,325| |||278,812| |||18,578| |||23,903| |||2022
£
100,030| |||13,664| |||113,694| continued... Page 9 CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ## **10. CASH AT BANK** |Capital Deposit A/C 95827633
Operations Account 95751793
Branches-South Wembley,MK Account 95751831
Reserve Account 95751807
Merchandising Account 95757031
Acc. 76701069
South Wembley 46689089
Milton Keynes 47115248
Northampton Acc. 47115248
Madia Vale 4664264
Total
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 12)
Payroll Liabilities
Pension Fund
Wages Account
Accrued expenses-Accountancy
**12.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**13.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.1.23
in funds
£
£
**Unrestricted funds**
General fund
119,467
23,213
**Restricted funds**
Restricted Fund
1,024,302
-
**TOTAL FUNDS**
1,143,769
23,213||2023
Total
funds
£
1,060,217
125
455
304
370
10
7,740
1,664
1,571
7,548
1,080,004
2023
£
-
15,462
6,188
6,873
3,107
31,630
2023
£
-
Transfers
between
funds
£
1,024,302
(1,024,302 )
-||2022
Total
funds
£
1,024,302
132
111
350
365
-
4,948
4,835
-
3,583|2022
Total
funds
£
1,024,302
132
111
350
365
-
4,948
4,835
-
3,583|2022
Total
funds
£
1,024,302
132
111
350
365
-
4,948
4,835
-
3,583| |---|---|---|---|---|---|---| |||||1,038,626||| |||||2022
£
1
16,169
6,048
7,725
2,511
32,454
2022
£
1
At
31.12.23
£
1,166,982
-|2022
£
1
16,169
6,048
7,725
2,511|| ||||||32,454|| |||||||2022
£
1| |||||1,166,982||| continued... Page 10 CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ## **13. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
473,421
**TOTAL FUNDS**
473,421
**Comparatives for movement in funds**
Net
movement
At 1.1.22
in funds
£
£
**Unrestricted funds**
General fund
153,904
(99,937)
**Restricted funds**
Restricted Fund
1,086,521
3,281
**TOTAL FUNDS**
1,240,425
(96,656)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
366,964
**Restricted funds**
Restricted Fund
3,280
**TOTAL FUNDS**
370,244||Resources
expended
£
(450,208)
(450,208)
Transfers
between
funds
£
65,500
(65,500)
-
Resources
expended
£
(466,901)
1
(466,900)|Movement
in funds
£
23,213
23,213
At
31.12.22
£
119,467
1,024,302
1,143,769
Movement
in funds
£
(99,937)
3,281
(96,656)| |---|---|---|---| ||||| ||||| continued... Page 11 CHRISTIAN ACTION FAITH MINISTRIES ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ## **13. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: ||||Net|Transfers|| |---|---|---|---|---|---| ||||movement|between|At| |||At 1.1.22|in funds|funds|31.12.23| |||£|£|£|£| ||**Unrestricted funds**||||| ||General fund|153,904|(76,724)|1,089,802|1,166,982| ||**Restricted funds**||||| ||Restricted Fund||||| |||1,086,521|3,281|(1,089,802 )|-| ||**TOTAL FUNDS**|1,240,425|(73,443)|-|1,166,982| ||A current year 12 months and prior year 12 months combined net movement in|||funds, included in the above|| ||as follows:||||| ||||Incoming|Resources|Movement| ||||resources|expended|in funds| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund||840,385|(917,109)|(76,724)| ||**Restricted funds**||||| ||Restricted Fund||||| ||||3,280|1|3,281| ||**TOTAL FUNDS**||843,665|(917,108)|(73,443)| |**14.**|**RELATED PARTY DISCLOSURES**||||| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: There were no related party transactions for the year ended 31 December 2023. Page 12 CHRISTIAN ACTION FAITH MINISTRIES ## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Tithes & Offering-Maida Vale
HMRC Charities-Gift aid
Donation-Church Building
Tithes & Offering South Branch
Tithes & Offering Wembley Park
Tithes &Offering Milton Keynes
Interest
Tithe & Offering East London
Tithes & Offering Birmingham
Tithes & Offering Northampton
Other Income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Rent and Expenses- Birmingham
Rent & Expenses- Northampton
Rent and Expenses-East London
Rent & Expenses-Milton Keynes
Rent & Expenses-Wembley
Rent & Expenses-South Branch
Honorarium
Printing and Reproduction
Equipment Rental
Salaries and Wages
Employer's National Insurance
Rent and Rates
Telephone and Internet
Postage and stationery
Motor & Vehicle Expenses
Travel & transport expenses
Pension
Repairs and maintenance
**Charitable activities**
Missions Support
Welfare Support
**Other**
General Church Expenses
Carried forward|2023
£
206,481
40,299
150
36,787
18,409
103,166
13,811
33,808
-
20,510
-
473,421
473,421
-
26,352
2,822
106,652
6,334
79,591
1,922
-
15,431
77,543
49
88,068
1,040
-
283
5,083
1,869
-
413,039
400
2,300
2,700
477
477|2022
£
188,128
-
1,110
41,467
10,544
54,297
2,242
32,800
1,631
3,285
34,740| |---|---|---| |||370,244| |||370,244
9,467
30,564
2,400
59,451
10,812
50,205
39,018
402
14,149
91,545
2,569
57,030
1,827
296
6,172
18,107
2,622
19,962| |||416,598
10,550
900| |||11,450
7,945
7,945| This page does not form part of the statutory financial statements Page 13 CHRISTIAN ACTION FAITH MINISTRIES |DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
**Other**
Brought forward
Insurance
Storage
Accountancy Charges
Other Professional Services
Bank interest and charges
Depn of Musical & Event
Fixtures and fittings
Depreciation of motor vehicles
Depn of church equipment
Total resources expended
**Net income/(expenditure)**|2023
£
477
1,264
14,729
8,137
1,239
3,298
1,620
873
2,560
272
34,469
450,208
23,213|2022
£
7,945
1,083
14,218
3,108
1,520
4,037
2,160
1,027
3,413
341
38,852
466,900
(96,656)| |---|---|---| This page does not form part of the statutory financial statements Page 14