2024-12-31-accounts

Registered number 1034010

CHRIST APOSTOLIC CHURCH AGBALA ITURA

Report and Accounts

31 December 2024

CHRIST APOSTOLIC CHURCH AGBALA ITURA

Report and accounts

Contents

	Page
Administrative information	1
Trustee's report	2
Accountants' report	3
Statement of Financial Activities	4
Profit and loss	5
Balance sheet	6
Notes to the Financial Statements	7
(inclusive of detailed Income & Expenditure)

CHRIST APOSTOLIC CHURCH AGBALA ITURA Company Information

Trustee

REV SAMUEL KAYODE ABIARA REV. KOLADE ADENIYI PASTOR ISRAEL KEHINDE ABIARA ISMAEL OLADITI

Accountants

Lemo Corporate 815 Old Kent road, London, SE15 1NX.

Bankers

Barclays Bank PLC

Registered office

166 RYE LANE PECKHAM LONDON SE15 4NB

Registered number 1034010

1

CHRIST APOSTOLIC CHURCH AGBALA ITURA

Trustee's Report

Trustees Report for year ended 31st December 2024

The trustees present their financial statements for the year ended 31st December 2024

The principal activity of the organization continues to be:

Propagation of the GOSPEL according to the teaching of JESUS CHRIST

Statement of Trustee Responsibilities

The Trustees are required to prepare financial statements that give a true and fair view of the state of affairs of the organization and of the income and expenditure of the project for that period. In preparing these financial statements, the Trustees are required to:

• Select suitable accounting policies and apply them consistently

• Make judgements and estimates that are reasonable and prudent

• State whether applicable standards and statement of recommended practice have

• been followed, subject to any material departures disclosured and explained in the statements.

• Prepare the financial statements on the going concern basis unless it is inappropriate

• to presume that the project will continue in operation.

The Trustees are responsible for keeping proper records that disclose at any time the financial position of the project. They are also responsible for safe guarding the assets of the organization and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities.

israelabiara

PASTOR ISRAEL ABIARA TRUSTEE

Date: 30 November 2025

2

CHRIST APOSTOLIC CHURCH AGBALA ITURA INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST APOSTOLIC CHURCH AGBALA ITURA

I report on the charity for the year ended 31 December 2024, which are set set out on pages 4 to 5.

Respective resposibilities 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 needed. [The charity's gross income exceeded £25,000 and I am qualified to undertake the examination by been a qualified member of Association of Chartered Certfied Accountants.

It is my responsisbility to:

. examine the accounts under section 145 of the 2011 Act;

. to follow the procedure laid down in the General Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act; and;

.to 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 Commision. 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 the seeking of explanations from you as trustee concerning any such matters. The procedure undertaken do not provide all the evidence that would be required in an audit and, consequetly 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: . to keep accounting records in accordance with section 130 of the 2011 Act; and

. 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.

adelaniawe

ADELANI AWE 30 November 2025 DELANI AWE & CO Chartered Certified Accountants

14 Bright Road, Chatham, Kent, ME4 5HH

3

CHRIST APOSTOLIC CHURCH AGBALA ITURA Profit and Loss Account

for the year ended 31 December 2024

Notes Income 1 Cost of sales Gross profit Administrative expenses Operating profit Profit on ordinary activities before taxation Tax on profit on ordinary activities Profit for the financial year	2024 £ 137,331 (13,104) 124,227 (113,608) 10,619 10,619 - 10,619	2023 £ 113,033 (10,343)
		102,690 (101,775)
		915
		915
		915

(126,712)

4

CHRIST APOSTOLIC CHURCH AGBALA ITURA

Statement of Financial Activities For the year ended 31 December 2024

Income Resources Tithes, offerings and thanksgiving Total Income Resources Resources Expended Support costs of activities in furtherance of the charity's objects Management & Administration of Charity Total Income Expended Net incoming/(outgoing) resources Net Movements in Funds Fund balances b/fwd Funds balances c/fwd	Notes 4.1 4.2 4.3	Total Fund 2024 £ 137,331 137,331 92,147 34,565 126,712 10,619 10,619 285,086 295,705	Total Fund 2023 £ 113,033
			113,033
			85,979 26,139
			112,118
			915
			915 284,171
			285,086

5

CHRIST APOSTOLIC CHURCH AGBALA ITURA Balance Sheet

as at 31 December 2024

Notes Fixed assets Tangible assets 3 Current assets Cash at bank and in hand 9,273 9,273 Creditors: amounts falling due within one year 6 - Net current assets Net assets Unrestricted Funds Unrestricted Funds 5 Restricted and Unrestricted Funds c/fwd.	9,273	2024 £ 286,432 9,273	2023 £ 279,972 5,114 5114 5,114 285,086 285,086 285,086	2023 £ 279,972 5,114 5114 5,114 285,086 285,086 285,086
	9,273 -
		295,705		285,086
		295,705		285,086
		295,705		285,086

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the member has not required the company to obtain an audit in accordance with section 476 of the Act.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

israelabiara

PASTOR ISRAEL ABIARA

Trustee

Approved by the board on 30 November 2025

6

CHRIST APOSTOLIC CHURCH AGBALA ITURA Notes to the Accounts

for the year ended 31 December 2024

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Incoming Resources

Income is mainly from grants and bank interest received are included in the financial statements when received.

Resources Expended

Taxation

As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Office equipment 25% straight line Motor vehicles 25% straight line

• 2 Operating profit

2 Operating profit This is stated after charging: Depreciation of owned fixed assets 3 Tangible fixed assets Motor vehicle Cost £ At 1 January 2024 10,654 Additions 0 At 31 December 2024 10,654 Depreciation At 1 January 2024 10,654 Charge for the year 0 At 31 December 2024 10,654 Net book value At 31 December 2024 0 At 31 December 2023 0 4 Debtors Other debtors 5 Unrestricted Funds At 1 January 2022 Net Incoming Fund At 31 December 2024	Land and buildings £ 360,269 5,277 365,546 110,381 - 110,381 255,165 249,888	Furniture & fittings £ 22,181 3,519 25,700 6,965 1,125 8,090 17,610 15,216	£ 2,336 Musical equipment £ 56,765 - 56,765 41,897 1,211 43,108 13,657 14,868 £ - £ 285,086 10,619 295,705	£ 2,432 Total £ 449,869 8,796
				458,665
				169,897 2,336
				172,233
				286,432
				279,972
				£ -
				£ 284,171 915
				285,086

8

CHRIST APOSTOLIC CHURCH AGBALA ITURA

Notes to the accounts (continued)

4	Detailed Income and Expenditure Account	Detailed Income and Expenditure Account
	For the year ended 31 December 2024
		Total fund	Total fund
		2024	2023
		£	£
4.1	INCOMING RESOURCES
	Thithes, offering and thanksgiving	137,331	113,033
	OUTGOING RESOURCES
4.2	Support costs of activities in furtherance	of
	the Charity's objects:
	Pastoral allowances	72,562	70,811
	Other direct cost, Events & Anniversary	13,104	10,343
	Printing, postage & stationery	1,037	416
	Missonary	3,280	2,907
	Evangelical/outreach materials	2,164	1,502
		92,147	85,979
4.3	Management and Administration of Charity:
	Rates	2,361	2,090
	Travelling and subsistence	2,419	2,181
	Security	0	0
	Cleaning	1,403	1,275
	Light & Heat	8,185	7,011
	Mortgage	0	0
	Repairs & Mentainance	9,117	825
	Bank Chrs	572	615
	Telephone	3,192	4,460
	Events & Anniversary	2,035	1,873
	Insurance	1,581	1,644
	Accountancy fees	750	750
	Equipment expensed	614	983
	Legal & Professional Expenses
	Sundry expenses
	Depreciation charge	2,336	2,432
		34,565	26,139

9

Total Expenses 126,712 112,118 10

CHRIST APOSTOLIC CHURCH AGBALA ITURA Profit and Loss Account

for the year ended 31 December 2024

for the information of the director only

Income Cost of sales Gross profit Administrative expenses Other operating income Operating profit Profit before tax	2024 £ 137,331 (13,104) 124,227 (113,608) - 10,619 10,619	2023 £ 113,033 (10,343)
		102,690 (101,775)
		915
		915

11

CHRIST APOSTOLIC CHURCH AGBALA ITURA Schedule to the Profit and Loss Account

for the year ended 31 December 2024

for the information of the director only

Income Tithes, offerings & thanksgiving Cost of sales Other direct costs Administrative expenses Employee costs: Wages and salaries Members' welfare Travel and subsistence Premises costs: Rent Rates Light and heat Cleaning Security General administrative expenses: Telephone and fax & TV Licence Insurance Stationery and printing Evangelisim Donations and welfare Bank charges Events & Anniversary Depreciation Repairs & Mentainance Legal and professional costs: Accountancy fees	2024 £ 137,331 137,331 13,104 13,104 72,562 - 2,419 74,981 - 2,361 8,185 1,403 - 11,949 3,192 1,581 1,037 2,164 - 572 2,035 2,336 9,117 25,928 750 750 113,608 126,712	2023 £ 113,033
		113,033
		10,343
		10,343
		70,811 - 2,181
		72,992
		- 2,090 7,011 1,275 -
		10,376
		4,460 1,644 416 1,502 - 615 1,873 2,432 825
		17,657
		750
		750
		101,775

12