2024-12-31-accounts - Christ Apostolic Church Victory Centre

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Charity registration number: 1046586

CHRIST APOSTOLIC CHURCH VICTORY CENTRE TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

KALOMART & CO ACCOUNTANTS

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Contents

	Page
Reference and Administrative Details	1
Trustees' Report	2—4
Independent Examiner's Report	5
Statement of Financial Activities	6
Comparative Statement of Financial Activities	7
Statement of Financial Position	8
Notes to the Financial Statements	9—12
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities	13

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Reference and Administrative Details For The Year Ended 31 December 2024

Trustees Selina Adeyanju - Main Contact Joseph Agboola - Trustee (resigned 01/02/2025) Jenrola Makinde - Trustee Sijuwade Adeoye - Chairperson Charity Number 1046586 Principal Address 30 HOOKS CLOSE London SE15 2TP Independent Examiner M Nsiah BA FCCA KALOMART & CO ACCOUNTANTS Chartered Accountants First Floor 2 Market Place London London SE16 3UQ

Page 1

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Trustees' Report For The Year Ended 31 December 2024

The trustees present their report and the financial statements for the year ended 31 December 2024.

Objectives and Activities

Aims and Objectives

Status and Governing Document

The Church was formed as a charitable organisation in England and Wales and was registered 01046586 as a charity on 22nd May 1995.

It is also known as Christ Apostolic Church Victory Centre. The name is now Christ Victory Centre International to cater for the international work underway in Nigeria recently. The Church was established under a Trust Deed in 1995, which established the objects and powers of the charitable organisation. It is governed under this deed dated on the 8th May 1995.

Public Benefit

As part of the vision of church, attention has been focused last year on training of church leaders, Sunday school teachers, House Group and Small group leaders, such as Bible study leaders, and discipleship leaders. Most leaders attended an intensive one-week leadership training externally during 2023. Leaders and members are encouraged to take part in Prevent training and certification. Prevent training was designed to alert leaders and every other member of the church to the insurgence of “non-violent extremism”. Training of leadership in various areas continues to be a work in progress process of the church and this would remain on the board of trustees’ agenda going forward. Youth Programs

Our youth and young people are allowed to participate in the activities of the church. They are encouraged to conduct series of activities under thorough supervision of the church leaders. This is also very patronised by majority of the youth the church.

Ordination

There was no ordination during the year unlike 2023, but the board of trustees planned to ordain and appoint some more members into the leadership position in the coming year. This is to enable the work of God to grow.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Achievements and Performance

Main Achievements

Financial Year Review 2024

Introductio n

The year 2024 began with thanksgiving, prayer, worship, and praise as we committed the New Year into God’s hands. The first Sunday service of the year was marked by joy, renewed faith, and a strong determination among members to deepen their commitment and service to the Lord.

Church Activities

All regular church activities and weekly programmes continued throughout the year. Attendance at Sunday services and mid-week programmes remained strong and encouraging.

The Youth Bible Study group continued to grow steadily, with new leadership, visible spiritual maturity and increased participation among the youths.

Our annual youth-focused services and activities were particularly impactful, aimed at nurturing confidence, leadership, and spiritual growth among young people.

Youth Involvement

Youth participation remained a core focus of the church’s mission and included:

1. Weekly Bible Study (Tuesdays):

Designed to deepen the youths’ understanding of God, foster love for God and neighbour, and help them appreciate their responsibilities within society and the community.

2. Youth and Children’s Choirs:

Both choirs functioned actively under capable focused leadership, providing opportunities for young people to develop and express their God-given talents.

3. Personal Evangelism:

Youths were encouraged to share the gospel with their peers, strengthening their confidence and commitment to Christian witness.

These initiatives continued to record steady growth and positive outcomes.

...CONTINUED

Page 2

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Trustees' Report (continued) For The Year Ended 31 December 2024

Main Achievements - continued

All weekly activities aimed at strengthening fellowship and spiritual development across the church remained well attended.

During the year, baptismal classes were conducted to prepare candidates for baptism scheduled for the following year.

Overseas Mission

Our sister church in Nigeria was visited by one of our UK pastors during the year. Throughout the year, our sister church organised various programmes including revival services, leadership seminars, and teaching programmes.

New members joined the church and were baptised. Some members were appointed into leadership roles and are being prepared for future ordination as deacons, deaconesses, and ministers.

The church also provided assistance to small groups of families in rural villages. During the Christmas period, food items were distributed to families facing severe hardship, alongside donated clothing and essential materials.

Welfare and Economic Challenges

The national economic situation continued to have a significant impact on members, both locally and overseas. Some members experienced job losses, delayed salaries, or salary reductions.

The church provided support to families unable to meet hospital expenses for sick children. These challenges prompted ongoing discussions within leadership meetings on how to strengthen welfare support and better respond to the needs of members abroad.

Despite these challenges, we remain hopeful for a more stable and prosperous future that will allow greater engagement in charitable and outreach initiatives.

Additional Note

Evangelism and Growth

In 2024, renewed emphasis was placed on evangelism to strengthen membership growth and outreach impact.

Church Programmes

All church programmes remained consistent, including mid-week meetings and monthly special prayer services, all of which were online and well attended.

Special mention is made of the Monday “Prayer Warriors” Programme, which focuses on intercessory prayers for:

Our nation Great Britain Other nations around the world

With particular emphasis on peace, economic stability, and global transformation.

Baptism

Approximately fifteen (15) members were baptised during the year, with additional candidates expected in the coming year.

House Fellowship

The house fellowship group, established a few years ago, continued to grow steadily. Plans are underway to expand the number of house fellowship centres. Currently, there is one active centre.

Leadership Training

In alignment with the church’s vision, focused attention was given to leadership development. Training programmes were organised for:

Church leaders Sunday school teachers House fellowship and small group leaders Bible study and discipleship leaders

Youth Programmes

Youth and young people actively participated in church life and were encouraged to organise and lead activities under appropriate supervision, fostering responsibility and leadership development. The Youth now have an ordained minister.

Ordination

...CONTINUED

Page 3

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Trustees' Report (continued) For The Year Ended 31 December 2024

Additional Note - continued

One pastor was ordained during the year. Plans are in place to ordain and appoint additional leaders into various leadership positions.

Donations and Pledges

Despite prevailing economic difficulties, members continued to support the church faithfully, both financially and morally.

Foreign Missions

Foreign mission activities were limited during the year due to financial constraints, resulting in reduced operational capacity.

Future Plans

Our strategic priorities going forward include:

Intensifying evangelism and outreach efforts to win more souls Expanding house fellowship centres and group Bible studies Training and equipping house fellowship and Bible study leaders

Financial Review

Reserves Policy

Charity Reserve Policy

The Board has reviewed the charity’s reserve requirements in light of its principal risks. As a result, the trustees have developed a fundraising strategy aimed at achieving a healthier balance between restricted and unrestricted funds.

Once this balance is achieved, a formal reserves policy will be implemented. Unrestricted funds not committed to specific purposes will be held in reserve to ensure continuity of core activities during unforeseen circumstances.

The target reserve level is set at a minimum of three months (13 weeks) of operational expenditure, estimated at £12,000 due to rise in cost of living. This policy will be reviewed annually.

Structure, Governance and Management

Governing Document

Under the Trust Deed of May 1995, the church’s object are specifically set out in the Declaration of Trust as “The advancement of the Christian Religion by propagating the gospel of our Lord Jesus Christ, in extension of Christian Religion in accordance with the statement of beliefs appearing in the schedule hereto and in particular in the London region of the United Kingdom. At the discretion of the trustees anywhere else in the United Kingdom or the world by such means as the trustees may consider appropriate to help people by means of practical support for those who are in needs, in condition of hardship or distress or sick or aged in the said region, and at the discretion of the trustees anywhere else in the United Kingdom or the world by such means as the trustees may consider appropriate by the means of practical support.” Amendments to the Objects for clearance with the Charity Commission may only be made on written special resolution at an Annual General Meeting.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Selina Adeyanju Trustee 07/01/2026

Page 4

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Independent Examiner's Report to the Trustees of CHRIST APOSTOLIC CHURCH VICTORY CENTRE For The Year Ended 31 December 2024

I report to the trustees on my examination of the accounts of CHRIST APOSTOLIC CHURCH VICTORY CENTRE (the Trust) for the year ended 31 December 2024.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.

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

Independent Examiner's Statement

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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and contents 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.

M Nsiah BA FCCA 08/01/2025 KALOMART & CO ACCOUNTANTS Chartered Accountants First Floor 2 Market Place London London SE16 3UQ

Page 5

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Statement of Financial Activities For The Year Ended 31 December 2024

Unrestricted funds £ 34,885 - 195	Restricted funds £ 647 1,064 -	2024 Total funds £ 35,532 1,064 195	2023 Total funds £ 22,265 215 178
35,080	1,711	36,791	22,658
(1,096) (28,489)	- (9,327)	(1,096) (37,816)	(1,204) (36,984)
(29,585)	(9,327)	(38,912)	(38,188)
5,495	(7,616)	(2,121)	(15,530)
5,495 124,865	(7,616) 51,583	(2,121) 176,448	(15,530) 191,978
130,360	43,967	174,327	176,448

The notes on pages 9 to 12 form part of these financial statements.

Page 6

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Comparative Statement of Financial Activities For The Year Ended 31 December 2024

Unrestricted funds £ 21,740 215 178	Restricted funds £ 525 - -	2023 Total funds £ 22,265 215 178
22,133	525	22,658
(1,204) (27,467)	- (9,517)	(1,204) (36,984)
(28,671)	(9,517)	(38,188)
(6,538)	(8,992)	(15,530)
(6,538) 131,403	(8,992) 60,575	(15,530) 191,978
124,865	51,583	176,448

The notes on pages 9 to 12 form part of these financial statements.

Page 7

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Statement of Financial Position As At 31 December 2024

Unrestricted funds £ 355,950	Restricted funds £ 16,174	2024 Total funds £ 372,124	2023 Total funds £ 467,168
355,950 7,930 17,332	16,174 - 27,793	372,124 7,930 45,125	467,168 4,348 -
25,262 (500)	27,793 -	53,055 (500)	4,348 (450)
24,762	27,793	52,555	3,898
380,712	43,967	424,679	471,066
(250,352)	-	(250,352)	(294,618)
130,360	43,967	174,327	176,448
		43,967 130,360	51,583 124,865
		174,327	176,448

On behalf of the board

Selina Adeyanju Trustee 07/01/2025

The notes on pages 9 to 12 form part of these financial statements.

Page 8

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Notes to the Financial Statements For The Year Ended 31 December 2024

1. General Information

CHRIST APOSTOLIC CHURCH VICTORY CENTRE is an unincorporated charity registered with the Charity Commission, registered charity number 1046586. The principal address is 30 HOOKS CLOSE, London, SE15 2TP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements 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 charity is a Public Benefit Entity as defined by FRS 102.

2.2. Going Concern Disclosure

At the time of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees have adopted the going concern basis for the preparation of the financial statements

2.3. Incoming Resources

All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations and grants are recognised when they have been communicated as receivable in writing with notification of both the amount and settlement date. In the event that a either type of income is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank.

2.4. Resources Expended

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.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% RBM
Plant & Machinery	20% RBM
Computer Equipment	20% RBM

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3. Income from Donations and Legacies

Donations and gifts Member subscriptions and sponsorships Gift aid	Unrestricted funds £ 26,955 - 7,930	Restricted funds £ - 647 -	2024 Total funds £ 26,955 647 7,930	2023 Total funds £ 17,392 525 4,348
	34,885	647	35,532	22,265

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CHRIST APOSTOLIC CHURCH VICTORY CENTRE Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

Income from Other Trading Activities

			2024	2023
	Unrestricted	Restricted	Total funds	Total funds
	funds	funds
	£	£	£	£
Fundraising events	-	1,064	1,064	215

Investment Income

5. Investment Income
Bank interest receivable 6. Net Income/(Expenditure) The net expenditure is stated after charging/(crediting): Depreciation of tangible fixed assets - owned 7. Analysis of Expenditure Raising funds Church Activities Raising funds Church Activities	Activities undertaken directly £ - 25,860	2024 Unrestricted funds £ 195	2023 Total funds £ 178
		2024 £ 9,490	2023 £ 9,721
		Support costs (see note 8) £ 1,096 11,956	2024 Total £ 1,096 37,816
	25,860	13,052	38,912
	Activities undertaken directly £ - 26,017	Support costs (see note 8) £ 1,204 10,967	2023 Total £ 1,204 36,984
	26,017	12,171	38,188

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CHRIST APOSTOLIC CHURCH VICTORY CENTRE Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

8. Support Costs

Raising funds £ 933 - 163 -	Church Activities £ - 2,129 9,327 500	2024 Total £ 933 2,129 9,490 500
1,096	11,956	13,052
Raising funds £ 1,000 - 204 -	Church Activities £ - 1,000 9,517 450	2023 Total £ 1,000 1,000 9,721 450
1,204	10,967	12,171

9. Average Number of Employees

Average number of employees during the year was: 3 (2023: 3)

10. Tangible Assets

Land & Property

	Land & Property
Cost As at 1 January 2024 As at 31 December 2024 Depreciation As at 1 January 2024 Provided during the period As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 1. Debtors Due within one year Other debtors	Freehold £ 612,581	Plant & Machinery £ 16,174	Total £ 628,755
	612,581	16,174	628,755
	231,783 9,327	15,358 163	247,141 9,490
	241,110	15,521	256,631
	371,471	653	372,124
	380,798	816	381,614
		2024 £ 7,930	2023 £ 4,348

11. Debtors

Page 11

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Notes to the Financial Statements (continued) For The Year Ended 31 December 2024

12. Creditors: Amounts Falling Due Within One Year Accruals and deferred income 13. Creditors: Amounts Falling Due After More Than One Year Bank loans 14. Loans An analysis of the maturity of loans is given below: Amounts falling due between one and five years: Bank loans 15. Movement in Funds As at 1 January 2024 £ Unrestricted funds General: General unrestricted fund 124,865 Restricted funds Restricted Building Fund 51,583 Total funds 176,448 As at 1 January 2023 £ Unrestricted funds General: General unrestricted fund 131,403 Restricted funds Restricted Building Fund 60,575 Total funds 191,978	Income £ 35,080 1,711	2024 £ 500 2024 £ 250,352 2024 £ 250,352 Expenditure £ (29,585) (9,327)	2023 £ 450
			2023 £ 294,618
			2023 £ 294,618
			As at 31 December 2024 £ 130,360 43,967
176,448	36,791	(38,912)	174,327
As at 1 January 2023 £ 131,403 60,575	Income £ 22,133 525	Expenditure £ (28,671) (9,517)	As at 31 December 2023 £ 124,865 51,583
191,978	22,658	(38,188)	176,448

Related Party Disclosures

Page 12

CHRIST APOSTOLIC CHURCH VICTORY CENTRE Detailed Statement of Financial Activities For The Year Ended 31 December 2024

INCOME AND ENDOWMENTS FROM: Donations and legacies Donations from individuals Building Fund Donation Gift aid Other trading activities Fundraising events Investments Bank interest receivable EXPENDITURE ON: Raising funds Light and heat Depreciation of plant and machinery Charitable Activities: Church Activities Bank interest payable Professional fees Depreciation of freehold land and property Accountancy fees NET EXPENDITURE	2024 Total funds £ 26,955 647 7,930	2023 Total funds £ 17,392 525 4,348
	35,532 1,064	22,265 215
	1,064 195	215 178
	195	178
	36,791 (933) (163)	22,658 (1,000) (204)
	(1,096) (25,860) (2,129) (9,327) (500)	(1,204) (26,017) (1,000) (9,517) (450)
	(37,816)	(36,984)
	(38,912)	(38,188)
	(2,121)	(15,530)

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