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
2. 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