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
- Integrity
- Loyalty
- Stewardship
- Unity
- Love
- Humility
- Fear of God
- Gratitude
- Discipleship
- Excellence
## 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:
- u pholding CLF’s mission, vision, doctrinal, and lifestyle standards ;
- coordinating corporate events and media activities in the UK and globally;
- managing existing UK church properties and supporting ministries without separate legal status;
- o verseeing ordination processes, CLTI (Bible School), and CLM Trust (our missions’ arm) and
- collaborating with the International Council of CLF Elders, representing diverse regions.
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:
- Kwame John Dompreh (General Overseer, Global)
- Philip Hill (Regional Overseer – India, and RSA)
- Peter Mensah (Regional Overseer – Sierra Leone, Kenya, and Liberia)
- Enoch Amoah (Regional & National Overseer – Ghana)
- Martyn Reay (National Overseer – RSA)
- Apostle Hassan Kamara “Acting” (National Overseer – Sierra Leone)
- Evans Koomson Kwarteng (National Overseer – Kenya)
- Carlton Lavally (National Overseer – Liberia)
## 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:
- United Kingdom:
- Ministerial Training Course
- Christian Discipleship Course - Prayer School
- Kenya – Christian Discipleship Course
## Financial Support
We secure financial resources through:
- the generosity of CLF members and the broader community;
- a recommended 15% tithe of tithes from local UK churches;
- revenue from corporate events, publications, media initiatives, and overseas missions; and
- other legal funding avenues aligned with our values.
## Activities in 2024
In 2024, under the theme “Kingdom Advancing through the Holy Spirit,” CFMT aimed to advance the Christian faith through:
- church planting and leadership development;
- mission trips and community engagement programs; and
- support for ministries targeting diverse demographics.
These efforts were delivered both in the UK and internationally, focusing on spiritual growth and community service.
## Regional Activities
United Kingdom
- General Overseer: John Dompreh
- Churches: 4 (CLF Life Centre, CLF Medway, Woodford Christian Life Fellowship and City Faith Ministries Trust aka CLF Greenwich)
- Membership: 200 approx.
## Key Events
- Missions Month: Held in March and October, promoting evangelism and outreach.
- 12-Hour Prayer Events: Conducted on 23rd – 24th February, 28th – 29th June, and 25th – 26th October, fostering spiritual renewal.
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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024
- 40 Days of Prayer and Fasting: Observed from 3rd – 29th June, strengthening congregational faith.
- 30th Anniversary Dinner: Celebrated on 21st December, marking 30 years of ministry impact.
- Beach trip to Bournemouth: 31[st] August, nurturing relationships, strengthening fellowship.
## India
- Regional Overseer: Philip Hill
- Churches: 10 (Chennai and Andhra Pradesh)
- Membership: 200 (Andhra Pradesh: 120; Chennai: 80)
## South Africa
- Regional Overseer: Philip Hill
- Churches: 1 (Fresh Start Sada)
- Membership: 35
- Projects: Hosted a tent revival, joined Passover week events, conducted a 30-day fast, and planned a church plant in Kumani Town (Queenstown).
## Sierra Leone
- Regional Overseer: Peter Mensah
- Churches: 7 (e.g., Port Loko, Maforki)
- Membership Examples: Port Loko: 79; Maforki: 24
- Projects: Began constructing a church and community hub in Maforki and refurbished a church in Ropolon, supported by two mission trips.
## Kenya
- Regional Overseer: Peter Mensah
- Churches: 2 (Buruburu: 57 members; Uthiru: 28 members)
- Activities: Supported by three mission trips led by Pastor John and Peter, focusing on leadership and evangelism.
## Liberia
- Regional Overseer: Peter Mensah
- Churches: 1 (Polotorie: 24 members)
- Activities: Supported by one mission trip, emphasizing youth engagement.
## Ghana
- Regional Overseer: Enoch Amoah
- Churches: 11 across three districts (e.g., Achimota: 81 members; Afiasa: 83 members)
- Activities: Strengthened outreach through three mission trips led by Pastor John, Rebecca Sotomi, and Rafiat Lawal.
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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024
## Additional Ministries
The Tabernacle and The Altar
- Leader: Rebecca Sotomi
- Purpose: Encouraging worship and creative responses to the Holy Spirit.
- Events: Three “Night of Worship” events (e.g., 20th September: 35 attendees; 13th December in Ghana: 12 attendees).
## Men of Action
- Leader: Meka Umeadi
- Purpose: Equipping men to align with God’s will.
- Events: Four events (e.g., April Zoom: 14 attendees; May in-person: 10 attendees), noted as interactive and impactful.
Daughters of the King (DOTK) and International Christian Women’s Network (ICWN )
- Leader: Sheron Hill
- Purpose: Empowering women through prayer and leadership.
- Events: “Warrior Bride ‘Watchmen Assemble’ Conference” (17th August: 34 attendees), focusing on prophetic ministry.
## Marylayo Talks
- Leader: Mary Ogungbeje
- Purpose: Supporting mental health and spiritual wellbeing.
- Activities: Podcast “Beyond the Smile” (10 episodes, 593 listeners), addressing topics like childlessness.
## Omega Generation
- Leader: Peter Mensah
- Purpose: Empowering youth through volunteering.
- Activities: 71 volunteers across Kenya, Ghana, and the UK; planned a youth event for 17th May 2025.
## InsideOut
- Leader: Alison smith
- Purpose: A ministry to prisoners and ex-prisoners to encourage them in their spirituality; and support them in a productive alternative after prison
- Activities: Thanksgiving picnic in August, Hillsong Conference in October, Christmas dinner in December, 5 CLF Sunday services at Belmarsh Prison, across the year after a 3-year gap.
## Kingdom Marriages
- Leader: Philip Hill
- Purpose: Building Lasting relationships.
- Activities: Marriage Seminar held on 19th Oct entitled 'The Journey Together' 20 people attended, kingdom wives met on 23rd Nov for continuation of seminar, 10 wives were in attendance.
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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2024
## Fresh Start
- Leader: Martyn Reay
- Purpose: Fresh Start Ministries is a self-financed ministry with bases in Scotland and South Africa. It aims to help individuals restart their lives by spreading the gospel, providing hope to those in need, and supporting community development through business and enterprise initiatives.
- Activities: The ministry hosted two conferences in South Africa, a Tent Revival in February/March, and regular women’s prayer meetings every Saturday, alongside weekly Bible study on Wednesdays and Sunday morning prayer sessions. Three fasting periods were observed: a 21-day fast in January, a 40-day fast in June, and a 30-day fast in December
Neraiah Nea Academy (NNA)
- Leader: Janet Doughan
- Purpose: This Academy seeks to provide an exceptional learning environment rooted in biblical principles.
## Abiding In Christ (AiC)
- Leader: Marilyn Mensah
- Purpose: Empowering women to be relevant disciples of Christ by utilizing their gifts and talents on the mission field.
- Volunteers: 1-5
- Events:
- Event Name: AiC Mission to Ghana
- Purpose: Taking the gospel to communities in Accra, Ghana.
- Date: 4th to 12th December 2024
- Location/Format: In-person
- Attendees: Approximately 40
- Impact: The mission included teaching during Sunday service, teaching at two local schools, evangelism at the mall, hosting an evangelistic children's workshop, and hosting "The Tabernacle and the Altar Ghana." As a result, one family joined the church, the church was equipped during the times of ministration, children were strengthened in their faith, and church members expressed a greater connection with the Lord during TTA.
## External Ministries CFMT collaborates with:
- Ascension Trust.
- Street Pastors.
- Tear Fund.
- Gospel Torch Mission.
- Adullam Bible Mission.
- Spearhead Ministries.
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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:
- Host a major youth event on 17th May through Omega Generation
- Expand mission trips to reinforce regional churches
- Enhance digital outreach for wider engagement
- Pursue strategic initiatives, including developing disciples, seeking revival, raising youth leaders, strengthening existing works, and exploring property acquisition in London.
- Through Fresh Start host:
- Passover Conference in April with 12 participating ministries through Fresh Start. Ladies Conference to support and empower women in faith.
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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did 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. (|: **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**
- the charity becomes entitled to the resources;
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
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**|
19
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**|
20