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2024-12-31-accounts

CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

CHRISTIAN LIFE FELLOWSHIP (CITY FAITH MINISTRIES TRUST)

Statutory Financial Statements & Trustees Report 31[st] December 2024

Charity No. 1045627

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

Legal and Administrative Information

Charity Name: City Faith Ministries Trust (CFMT)
Charity Registration No: 1045627
Principal Office: 87 Trafalgar Road
Greenwich
London
SE10 9TS
Trustees: Mr Enoch Amoah
Mr Philip Hill
Mr Michael Amoah
Mr Nnaemeka Umeadi
Mrs Marilyn Mensah
Mrs Sandra Ankrah
Mr Martyn Reay
Mr Emmanuel Kodua
Accountants: Rev Dr Olu Olasode PhD FCCA
TL First Accountants & Consultants
1 Copers Cope Road
Beckenham, Kent
BR3 1NB
Bankers: Natwest Bank Plc
HSBC Bank Plc
Barclays Bank Plc
Pentecostal Community Bank Plc

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

About City Faith Ministries Trust

City Faith Ministries Trust (CFMT) is the charity name under which Christian Life Fellowship (CLF) is registered.

CFMT is a nondenominational Church and a member of the Evangelical Alliance (UK).

Our Mission

A global family of Churches and ministries committed to making disciples of Jesus Christ as a Christ centred purpose driven Church.

Our Vision

Our vision is to make disciples of Jesus Christ by planting and establishing local churches in every nation as the Lord Jesus Christ leads. We also fulfil our vision through leadership development in partnership with other churches and ministries within the body of Christ in those nations.

Core Values

Structure, Governance, Responsibilities and Management

CFMT operates as the registered charity for CLF, a nondenominational church and member of the Evangelical Alliance (UK). CFMT is governed by a board of trustees in compliance with legal and charitable obligations. The trustee board, unchanged in 2024, collaborates with the Global Executive Board (Presbytery) and the International Council of CLF Elders, representing regions where CFMT operates.

CFMT operates under the spiritual and administrative oversight of the Presbytery in conjunction with the board of trustees.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

CFMT ’s responsibilities include:

International Council of CLF Elders as of December 31, 2024: this council comprises elders who represent various nations and regions under the leadership of CLF-ordained ministers. The current members include:

Leadership Development

Membership Discipleship Program (MDP) including CLTI - being rigorous and intentional in how we develop our members over a seven-stage process:

– Stage 1 New Believers Course

– Stage 2 New Members Orientation Course – Stage 3 Spiritual Maturity Course ( Christian Discipleship Course) – Stage 4 Ministry Orientation for Church Workers – Stage 5 Leadership Orientation – course Stage 6 Ministerial Training – course Stage 7 Ordination Process

This strategy is further enhanced through our Bible school (Christian Life Training Institute (CLTI), and various training initiatives and seminars as outlined below:

Christian Life Training Institute (CLTI)

CLTI is the Bible School initiative of CLF. It aims to serve our mission and vision to make

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

disciples of Jesus Christ by equipping our members and the wider body of Christ with a Christ centred perspective to life and ministry.

CLTI offers two flagship courses – Ministerial Training Course (MTC) for the spiritually mature, and Christian Discipleship Course (CDC) for believers who desire to be equipped as Disciples of Christ. CLTI also offers other short courses in a variety of subjects and is currently established in the following countries:

Financial Support

We secure financial resources through:

Activities in 2024

In 2024, under the theme “Kingdom Advancing through the Holy Spirit,” CFMT aimed to advance the Christian faith through:

These efforts were delivered both in the UK and internationally, focusing on spiritual growth and community service.

Regional Activities

United Kingdom

Key Events

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

India

South Africa

Sierra Leone

Kenya

Liberia

Ghana

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

Additional Ministries

The Tabernacle and The Altar

Men of Action

Daughters of the King (DOTK) and International Christian Women’s Network (ICWN )

Marylayo Talks

Omega Generation

InsideOut

Kingdom Marriages

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

Fresh Start

Neraiah Nea Academy (NNA)

Abiding In Christ (AiC)

External Ministries CFMT collaborates with:

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

Financial Review

The financial statements for the year ended 31 December 2024 are included in the accompanying accounts, providing a detailed summary of income, expenditure, and financial position.

Plans for Future Periods

In 2025, CFMT aims to:

Revival events to strengthen the ministry’s outreach.

New church plant in Queenstown, starting as a home group with the goal of becoming a church by the end of the year.

Missions trip to South Africa, involving members from Scotland and a leading minister from Ghana.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the accounts of the City Faith Ministries Trust (the Trust) for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees, 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association (FCCA).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

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. (|: Rev Dr Olu Olasode PhD APSA FCCA Chartered Certified Accountant TL First Accountants Limited TL First Limited

May 2025

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

STATEMENT OF FINANCIAL ACTIVITIES
INCOMING RESOURCES
Grants and Donations (incl. Gift Aid Received)
Investment income
Other Incoming Resources
Bank Interest
Total Incoming Resources
RESOURCES EXPENDED
Costs of Activities in Furtherance of the
Company’s Objects
Charitable Activities
Governance Costs
Total Resources Expended
Net Incoming / (Outgoing) Resources
Total Funds Brought Forward
Reserves Adjustments
Total Funds Carried Forward		 2024
2024
2024
2023
Restricted
Unrestricted
Total
Total
£
£
£
£
254,856
254,856
309,862
-
-
-
60,028
60,028
27,291
595
595
169
315,478
315,478
337,323
252,010
252,010
262,926
11,234
11,234
23,116

263,244
263,244
286,042
52,234
52,234
51,281
681,090
681,090
624,662
33,927
33,927
5,147
767,251
767,251
681,090

There were no recognised gains or losses for the year, other than those included in the Statement of Financial Activities.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

BALANCE SHEET 2024 2024 2023 2023
£ £ £ £
FIXED ASSETS(Note 5) 264,916 264,916
CURRENT ASSETS
Debtors 2,739 3,033
Cash and Bank 524,840 446,114
CURRENT LIABILITIES
Creditors- within one year (Note 7) (25,244) (32,987)
NET CURRENT ASSETS 502,335 416,160
Creditors– Not within one year (note 8) 0
NET ASSETS 767,251 681,090
CAPITAL AND RESERVES
Designated Funds 102,070 102,070
Unrestricted Funds 665,181 527,739
Other Reserves 51,281
NET ASSETS 767,251 681,090

2nd April 2025 Approved by the Board of Trustees on …………………………… and signed on their behalf

-----------------------------------------------------Trustee

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

NOTES TO THE FINANCIAL STATEMENTS

1. BASIS OF PREPARATION

1.1. Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2. Going Concern

The charity is a going concern and the accounts have been prepared on a going concern basis.

1.3. Change of accounting policy

There is no change of accounting policy during the period.

1.4. Changes to accounting estimates

There is no change to accounting estimates during the period

1.5. Material prior year adjustments

There are no material prior year adjustments during the period.

2. ACCOUNTING POLICIES

2.1. Income

Recognition of These are included in the Statement of Financial Activities (SoFA) when: income

There has been no offsetting of assets and liabilities, or income and expenses, Offsetting unless required or permitted by the FRS 102 SORP or FRS 102. Grants and Grants and donations are only included in the SoFA when the general income donations recognition criteria are met (5.10 to 5.12 FRS102 SORP).

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).

Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Government The charity has received government grants in the reporting period grants Gift Aid receivable is included in income when there is a valid declaration Tax reclaims on from the donor. Any Gift Aid amount recovered on a donation is considered to donations and be part of that gift and is treated as an addition to the same fund as the initial gifts donation unless the donor or the terms of the appeal have specified otherwise. Contractual income and This is only included in the SoFA once the charity has provided the related performance goods or services or met the performance related conditions. related grants Donated goods are measured at fair value (the amount for which the asset Donated goods could be exchanged) unless impractical to do so.

The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.

Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.

Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Donated Donated services and facilities are included in the SOFA when received at the services and value of the gift to the charity provided the value of the gift can be measured facilities reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Support costs The charity has incurred expenditure on support costs. The value of any voluntary help received is not included in the accounts but is Volunteer help described in the trustees’ annual report.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

Income from interest, This is included in the accounts when receipt is probable, and the amount royalties and receivable can be measured reliably. dividends Income from Membership subscriptions received in the nature of a gift are recognised in membership Donations and Legacies. subscriptions Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. Settlement of Insurance claims are only included in the SoFA when the general income insurance recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as claims an item of other income in the SoFA. Investment This includes any realised or unrealised gains or losses on the sale of gains and losses investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

2.2. Expenditure and Liabilities

Liability Liabilities are recognised where it is more likely than not that there is a legal recognition or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Support costs have been allocated between governance costs and other Governance and support. Governance costs comprise all costs involving public accountability support costs of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Where the charity gives a grant with conditions for its payment being a Grants with specific level of service or output to be provided, such grants are only performance recognised in the SoFA once the recipient of the grant has provided the conditions specified service or output. Grants payable Where there are no conditions attaching to the grant that enables the donor without charity to realistically avoid the commitment, a liability for the full funding performance obligation must be recognised. conditions Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. The charity has creditors which are measured at settlement amounts less any Creditors trade discounts Provisions for A liability is measured on recognition at its historical cost and then 15

CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

liabilities subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date The charity accounts for basic financial instruments on initial recognition as Basic financial per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per instruments paragraphs 11.17 to 11.19, FRS102 SORP.

2.3. Expenditure and Liabilities

Tangible fixed These are valued at cost and capitalised if they can be used for more than one assets for use year, and cost at least £1,000 by charity

The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following bases:

Office & Musical Equipment 25% on the reducing balance Furniture & fittings 25% on the reducing balance Motor Vehicles 25% on the reducing balance Freehold Office 1% on the Straight Line Method

Assets are depreciated from the time at which they are brought into use.

Intangible The charity has intangible fixed assets, that is, non-monetary assets that do not fixed assets have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5

They are valued at cost. Heritage assets The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 9.6.1.4.

They are valued at cost.

Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments.

Stocks held for sale as part of non-charitable trade are measured at the lower Stocks and or cost or net realisable value. work in progress Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Current asset investments

The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due.

They are valued at fair value except where they qualify as basic financial instruments.

3. GRANTS & DONATIONS

Donation (incl Gift Aid Received)
Gift Aid Accrued
Designated Building Fund
Contributions from Affiliates
Income from Missions
Other Grants and Donations		 2024
2024
2024
2023
Restricted
Unrestricted
Total
Total
£
£
£
£
254,418
254,418
276,250
-
-
-
438
438
610
24,367
24,367
22,059
36,256
36,256
10,943
315,478
315,478
309,862

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

4. RESOURCES EXPENDED

Analysis
of
Resources
Expended
Direct Costs:
Services & Events
Departmental /Project Support
Evangelism & Missions
Staff Costs
Indirect Costs:
Office and Admin Costs
Governance Cost
Total Resources Expended		 Cost of
Charitable
Activities
Governance
Cost
Total
2024
Total
2023
78,747
78,747
80,864
28,483
28,483
28,595
32,147
32,147
31,740
89,900
89,900
105,384
229,277
0
229,277
246,393
22,733
22,733
16,533
11,234
11,234
23,116
22,733
11,234
33,967
39,649
252,010
11,234
263,244
286,042

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

5. FIXED ASSETS

5. FIXED ASSETS
Freehold Furniture & Mus./Office Motor
Office Fittings Equipment Vehicle Total
£ £ £ £ £
COST
At 1 January 2023 301,742 11,485 105,687 12,151 431,065
Additions
Disposals
At 31 December 2023 301,742 11,485 105,687 12,151 431,065
DEPRECIATION
Accumulated Depreciation 36,826 11,485 105,687 12,151 166,617
Charge for the year
At 31 December 2023 36,826 11,485 105,687 12,151 166,617
NET BOOK VALUE
At 31 December 2023 264,916 0 0 0 264,916
At 31 December 2022 264,916 0 0 0 264,916
6. DEBTORS 2024 2023
£ £
Staff Advances 2,739 3,033
7. CREDITORS- falling due within one year 2024 2023
£ £
Other Creditors & Accruals 25,244 33,010
Credit Cards - -23
25,244 32,987

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024

8. CASH AND BANK BALANCES 2024
£
Greenwich Current 69,317.83
Greenwich Building Fund 179,004.85
Petty Cash Account 102.96
Scotland 5,353.80
Tooting Account 28,408.09
Building Fund (Corporate) 36,170.17
Refresh 11,287.02
Main Account 1,454.07
CLM 2,486.91
CLTi 6,291.32
Reserve 154,906.88
HSBC 25,840.25
Barclays Christhouse 0.00
Barclays Christhouse 2 0.00
Inside Out 1 2,707.70
Inside Out 2 2,686.90
Trustees of CFMT 500.00
PCB 1,090.00
Bank Total 527,608.75
Natwest Credit Card -2,768.94
Total 524,839.81

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