CHRIST GOSPEL CHURCH LONDON TRUST 75 KIER HARDIE HOUSE MARIAN WAY ROUNDWOOD ESTATE LONDON NWIO 4BX CHARITY NO 1063473 FINANCIAL STATEMENTS FOR'I'HE YEAR ENDED 31ST DECEMBER 2024
CHIUST GOSPEL CHURCH LONDON TRUST LEGAL AND AD_MINISTRATIVE INFORMATION TRUSTEES: Deaconess (Mrs) Rcbccca A Adenigbagbe (Trustee and Chair) Pdstor Simeon Adedayo Adenigbagbe (Trustee and Contact) Mr& Aisha Adenigbagbe (Tstee and Treasurci.) Mrs Elizabeth Tiamiyu (Member Trustee) Mi. Owolabi Oluwafcmi Allain Olagbami (Member Trustee) SECRETARY.. Mr Owolabi Oluwafemi Allain Olagbami CHARITY COMMISSION NUMBER.. J063473 BANKERS: BARCLAYS BANK PLC WILLESDEN GREEN LONDON ACCOUNTANTS: DANJEL FAMOK & ASSOCTATES ACCOUNTANTS & FtNANCIAL CONSULTANTS UNIT 209, TUDORLEAF BUSINESS CENTRE 2-8 FOUNTAYNE ROAD, LONDON N154QL CONTENT: l. Trustees, Report 2. Statement of Financial Activities 3. Balance Sheet 4. Notes to the Accounts
CHRIST GOSPEL CHURCH LONDON TRUST TRUSTEES, REPORT The Ti'ustees have pleasure in submitting their r¢port and ac¢ounts for year ended 3 1st December 2024. The ftnan¢ial statement5 have been prepared in accordance with accounting policies sel out on page 9 and comply with the Statement of Recommendcd Practice (SORP 2015) and the applicable law. CONSTITUTION OBJECTIVES AND ORGANISATION STRUCTURE The ISteeS made all the deeisions garding allocation of funds and activities. The Board of trustees is compi'ised of the Cha1cr.0n, Secretary lo the Trusl, Treasurci. and two other membLis of lh¢ Ti'uslees. The ¢harily is ind¢pendently collstitutcd under a Tn)st Deed dated 16ih June 1997 and was approved as a UK registered charity number 1063473 on 16th July 1997. The objective5 of the charity as set out in the Declaration of Trust are: (a) to advance the Christian faith in accordance with the Staternejit of Beli¢fs appearing hei-eto in Loiidoii and the l'est of Uiiited Kingdom ai)d tlie woi'ld at large. (b) lo relieve persons in condition of pains, hardship or are aged and lor sick within these communities. (c} to proinote and fulfil other charitablc puiyoses bcncficial to the coinmunity. The Ti'usl was involved in Christian oulreach programmes designed to in¢re8s¢ Christian awareness and spi'ead the go8pel of our Lord Jesus Christ. These Christian outreach programines are orgaiiised locally in Northwest London. ECUMENI AL LINKS AND RELATIONSHIPS Christ Gospel Church London Trnst is an affilialed church of the Christ Gospel Churches International (In¢.) wlth woi'ldwide headquarters in Jeffersonvllle. Indiaiia, Unilcd States of America. Christ Gospel Church Londoi) Trust is independently governed but is theologically fully affiliated with Christ Gospel Churches, Inleriialional. APPOINTMEI NT FNEWB RD FTR R202 Cl)rist Gospel Church iA)ndon TNst was founded and independently organised by Rev.(Dr) Simeon Ayodeji Adenigbagbe, who had been the presiding minister and General Overseer until his de8th in November 2022. Following the Pd.ssing of the Preciding minister, Reverend (Dr) Simeon Ayodeji Adenigbagbe, a new Board of Trlistees was i'¢-constituted in February 2023 with Deaconess (Mrs) Rebecca A Adenigbagbe appoiiited as Chaii- of the Boai'd of Tivstees and Pastor Simeon Adedayo Adenigbagb¢ as Mini5ter-In-Charge of the Church. The London Trust continues to undertake joint worships and prayers with othei churches within the locality of Noi'lhwest Londoii. The London Trust also engages in Christain activities with Christ Gospel Church in Leicestei. (UK) under the current 8upcrvisory control of Reverei)d Jolian Trengove (The International Direcloi.. respi'esenting the Worldwide Headquarter Church in Indiana. USA). The TIsteeS ale pleased to rcport that tbe Church Continued to be succcssful spiritually by ministering to many people. The church bas improved in DMberShIp strengih and is increasingly reaching out to the community.
CHRtST GOSPEL CHURCH LONDON TRUST TRUSTEES, REPORT CONTINUED ACHIEVEMKf4TS AND PERFORMANCE Tlje principal activities of tlie Charity during the year under i'eview ale the advancement of Christian religion in &cL'oidance wilh the Doctrines. Beliefs and Tenets of Faith as laid down by Chiist Gospel Chui'ch London Ti'usl. These objectives were achieved during fjnancial year 2024 through outreach progi'ammes designed to inci'ease Christian awareness and spreading thr go.8pel ofour tA)rd Jesus Christ. OXFAM AND OUR PUBLIC BENEFIT REPORTING The trustees paid due regard to the Charity Commission's guidance on public benefit and advanccment of i'eligion through the following achievements. ort for Oxfam In line with our ongoing commitment to alleviating poverty both locally and globally, we are pleased to announce that we have started a monthly financial contribution to Oxfam. As declared in November 2023, we continued with our monthly donation of £20 to support Oxfam's efforts in fighting poverty and providing aid to those in need around the world. Oxfam is renowned for its impactful work in tackling poverty, responding to emergencies, and promoting sustainable development. By partnering with them. we aim to make meaningful difference in the lives of vulnerable communities. We believe that our contribution will help Oxfam continue their essential work in providing clean water. food, education, and other critical resources to those who need it most, This initiative reflects our commitm8nt to social responsibility and our desire to help create a better, more equitable world. Evan elism and Mission team su orts The trustees of Christ Gospel Church London Trust aiE committed to invite as many people as possible to worship at Brent Hub Community Enterprise Centre, Stonebridge. The invitations are achieved during the outings of the evangelical team who distributes christiai) tracts and preach the gospel of Jesus Christ to members of the public. Evangelism Efforts With an ever-growing desire to expand the kingdom of God within our church locality, we embarked on more vigorous evangelism campaign in the year ended December 2024. Our efforts included direct contact with individuals in our community, sharing the Message of Christ through meaningful conversations and personal interactions.
CHIUST GOSPEL CHURCH LONDON TRUST TRUS'I'bbS' REPORT CONTINUED Additionally, we distributed Christian tracts to provide spiritual literature and guidance to those we reached. This evangelistic initiative was driven by our commitment to spreading the Gospel and fostering a deeper connection with our community members. Our outreach aimed to address spiritual needs, offer support, and invite more people to experience the love and teachings of Jesus Christ. Looking ahead, we are excited to announce that we plan to continue these evangelism efforts with even greater intensity this year. We aim to reach a broader audience, deepen our engagement with individuals, and distribute more Christian tracts to ensure that the message of hope and salvation is accessible to all. We believe that through these enhanced evangelistic activities, we can make a significanl impact in our community, helping more people come to faith and grow in their spiritual journey.. Collaborative Church Partnership Over the past twelve months, we have partnered with other churches facing similar challenges to serve and transform cornmunities, make new disciples, and grow in holiness and worship. We look forward to continuing this collaboration in the coming years. Youth develo ment Youth development activities are undertaken by using Christian virtues and doctrines to raise public raise public awai'eness iii addressing social menaces on the use of dangerous drugs, knife crimes, youtli pregnaiicies and the effects of single pai'entage among otliers. Pastoral Care and Counsellin The ministei'ial team at Christ Gospel Church are well infornied and committed to enabliiig the local conimunity in Noithwest London Èo worship and benefit from pastoral care of the church.Tliis is achieved througb weekly couuselling services available to any member of the public like old people, single parents and the hopeless. RISK POLICY 'I'he Tiwtces have assessed the majoT risks to which the Trust is exposed particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate the i.isk exposure to the Charity.
CHRIST GOSPEL CHURCH LONDON TRUST TRUSTEES, REPORT CONTINUED REVIEW OF THE FINANCIAL POSITION Tlie net incoming re5011rces foi. the yeai. amounted lo a surplus of £9,857 (Year 2023 was a surplus of £9,987) and all of which al'e allocated to the iinrestricted reserves of the charity. FUTURE DEVEI LOPMENT PLANS The coming yeai's will see a continued emphasis on achieving the rnain charilable objects of thc Church. Tliere al'e concluded plans of the trust¢¢s to (a) Secui'e a new place of worship where additional christian activities can be conducted, (b) Iinpi'ove membei'sliip strength by engaging a full-tiine evangelist to coordiiial¢ crusades and Inore pl'ayer sessions (c) Inaiigui'ate additioiial branches in London and Nigeria during the years 2024 and 2025. CONSTITUTCI D MEMBERS OF THE BOARD OF TRUSTEES The Febi'uai'y 2023 l'e-constituted meinbers of the Board of trustees reinaiiied the same aiid their current positions as at 31 s December 2024 wei'e: Deaconess (Mrs) Rebecca A Adenigbagbe {Trustee and Chair) Pastor Simeon Adedayo Adenigbagbe (Truslee and Charity Contact) Mrs Aisha Adenigbagbe (Truslee and Treasurer) Mrs Elizalietli Tiamiyu (Meinber Ti'ustee) Mr Owolabi Oluwafemi Allain Olagbanii (Member Trustee) APPROVAL ThÉs report was given approval by the 8rd of Iruslees on 10th August 2025 and signed on its behalf by :" Seeretary . Mr Owolabi Oluwafemi A Olagbami
INDEPENDENT EXAMIIIER'S REPORT TO I'HE TRUSTEES OF CHRIST GOSPEL CHURCH LONDON TRUST CHARITY NUMBER 1063473 I report on the Financial Statements of the TNst for the year ended 31 st Deceinber 2024, whicli are set out on pages 7 to 8 below. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The charity's trnstees are respon8ible for the preparation of the accounts. The charity's trustees consider that an audit is not i"equired for this yeai. undei. section 43(2} of the Chai'ities Act 201 (The 201 l Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 43 of the 201 l Act, follow the procedures laid down in the general Directions given by the Charity Commisc [ undei. section 43(7)(b) ] of the 2011 Act. and state whether particular matters have come to my attention. BASIS OF INDEPENDENT EK4MINER'S STATEMENT My examination was Caled out in accordance with the general Directions given by the Chari commis.sion. An examination includes a review of the accounting records kept by the Tst ar a coinparison of the accounts presented with those records. It also includes considei'ation of any unusual items or disclosure in the accounts, and seeking explanations from the trustees concei'ning any such matters. The pi'ocedures undertaken do not provide all the evidence that would be I'equired in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the repoit is limited to those matters sel out in the statement below. INDEPENDENT EXAMINFR'8 STATEMFNT In connection with rny examination, no matter has come to my attention :_ l ) which gives me reasonable cause to believe that in, any rnaterial i"espect, the requireinent * to keep accounting records in accordance with section 41 of the 201 l Act. and
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST GOSPEL CHURCH LONDON TRUST CONTIIYUED to prepare accounts which accord with the accounting records and comply with accounting requirements of the 201 l Act have not been met; or 2) to which, in iny o attention should be drawn in order to enable a proper understandii". ccou s to be reache MRD. . FAMAKIN [ M DANIEL FAMOK & ASSOCIATES ACCOUNTANTS & FtNANCIAL CONSULTANTS UNIT 209, TUDORLEAF BUStNESS CENTRE 2-8 FOUNTAYNE ROAD, LONDON N154QL 10th August 2025
CHIUST COSPEL CHURCH LONDON TRUST INCOME AND EXPENDITURE STATEMENT FOR THE YEAR EINDED 31ST DECEIKBER 2024 Ullrestritted Funds Re$lri¢ted Funds Total Total Notes INCOMING RESOURCES Inconiing Resourcesfi oin geiieraledftinds Voliiiild Tiihes Colleclions Offei'ing Collections Anniveisaiy & Special Offerings Building & Members, welfare donations 14MRC Gift Aid Tax Reclaim Benefits 13.308 9,455 13.308 9.455 12,130 3.598 600 50 4,855 200 4,406 21X) 4,406 Total Incomlng Resources 27.168 27,368 21,233 RII SOUR EXPENDED Chorilable AclivitieJ' 16.482 16.482 9,511 Govei'iionce costs 1.029 1,029 1,733 Total resources expended 17.511 NET MOVCI MENT IN FUIYDS 9,857 9,8S7 9,987 RECONCILIATION OF FUNDS Tot41 funds brought forward 118,254 118,254 108.267 Total funds carrled forward 128111 128 Jll 118 254 There were no recogtiised gains or losses for the year other thali those included in the Statement of Ftnaii¢ial A¢livities. All incoming re50urce5 and resou¢$ expended derive from continuing activities. The notes on Page 9 form part of these accounts.
CHRIST GOSPEL CHURCH LONDON TRUST BALANCE SHEET AS AT 31ST DECEMBER 2024 Notes FIXED ASSETS Tat)8ible Fixed Assets 815 CURRE]YT Assft TS Sundry Debtor5 Iluilding Fund investments Cayh at Bank &nd in Hand 7A 1,500 106,453 19,120 106,253 11,586 127 074 117 839 LF.SS C.RF,DITORS: Amouiits IAlllng due wlihln oll¢ year 500 400 NET CURRENT ASSCITS 12 126,574 117,439 TOTAL ASSCI TS LESS LIABILITIES 128111 118 254 Rct PRfSENTED BY: Unrestricted Funds io 128,111 128 111 118,254 118,254 Approved by the Board of Trustee$ on the 10th August 2025 and slgned on its behalf by :_ Deaconess (Mrs ebeccA A Adelligbggbe (Trustee and Ch#lr)
CHRIST GOSPEL CHURCH LONDON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR KNDED 31ST DECEMBER 2024 I. ACCOUNTINC POLICIES Tlie financial statemenls have been prepared in accordance wilh the accounting policies set out in notes to the accounts and comply with the charity's govcrning document, thc Chai'itics Act 2011 and Accounting and Rcporting by Charities.. Statcment of Rccommended Practice (SORP) applicable lo Charities prepai-ing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16th July 2014. 1.1 INCOMING RESOURCES Voluntar Income Iiicoine fi'om tithes and offeriiigs collected are included in voluntary incoming resources wheii these are receivable. Glft Ald Tax Re ment Clalni I'he8e <ll'e per.4ondl tuxes I'eclaiined from HM Revenu¢ & Customs in respect of donations i'eceived fi'om the tax-paying meinbers of the chai'ity. The lotal gift aid benefits are iiicluded in incoining resources wlien received. Other Income These coinprises oih¢r miscellaneous income and are accounted for in the period in which it 1$ entitled. Cash flow statement The Charity has taken advantage of the exemption in financial Reporting Standard No l froin the requirements to produce a cashflow statement on the grounds that it qualifies as a small chai'ity. 1.2 RESOURCES EXPENDED Resources expended are included in the Statement of Financial Activities on accrual bases, iiiclusive of any value added tax (VAT) which cannot be recovered. Certain expenditure are atts'ibutable to specific activities and have been included in those cost categories. 1.3 Tan ible Fixed Assets for use b the charil and De reciation Tangible fixed assets for use by the Cliarity are stated at cost less depreciation. Depreciation is calculated to write off the cost less estimated residual value of fixed assets, over their estimatd useful lives on the following basis: Equipment, Furniture and tnsruments 2/0 per annum.
CHRIST GOSPEL CHURCH LOh'DON TRUST NOTES TO THE FINANCIAL STATEMENTS CON'fiNUED FOR THE YEAR NDED 31ST DECLMBER 2024 2. CHARITABLE ACTIVITIES Pastoi'al Allowances Evangelism & Overseas Missions Honorarium & Gifts to visiting ministers Renl and Service Charges Members, Welfare & Supports Printing, Postage and Stationery Travelling & Motoi Expenses Hospitality, Rcfreshment & Events Doiiations & Support to charilies Iiisui'ance Premium Choir, Media, Training & Volunteers Equipment Repair & Renewals Depi'eciation of fixed assets Telephoiie & fax 3.600 5.660 552 3,952 700 199 37 472 120 527 200 78 384 4,100 500 3,344 200 395 237 220 242 69 204 16,482 9,SJ I 3. GOVERNA E COSTS Legal and Professional fees Accountancy & Tndependent examination fees 529 500 1,333 400 MEMBERS, WELFARE COSTS AIYD SUPPORT Members, Welfare & Supports 700 200 Meinbers, welfai'e cosls included support of members during marriage ceremony and loss of loved ones. 4. NET MOVEMENT IN FUNDS FOR THE YEAR Tlie iiet movement in ndS for the year is stated after charging: Depreciation of tattgible fixed a8sels- foT use by the cbarily 384 204 Accountancy fee 5(X) 400 io
CHRIST GO,SPEL CHURCH LONDON TRUST NOTES TO THL TrINANCIAL STATEMENTS COINTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 S. TRUSTEES, REMUNERATION No Twstee has had expenses rcimbursed in the year. There is no staff whose emoluments exceeded £60.000 during the year 6. TANGIBLE FIXED A.8SETS uiprtrlF.NT TOTAL MUSICAL TOTAL Cost . As at 1st January 2024 Additions during the year As at 3 1st Deceinber 2024 9,149 9,149 1,107 1,107 10,256 10,256 8.430 719 9,149 Depreciation: As at 1st January 2024 Charge foi. the year As at 31st Decemb¢i' 2024 8,334 8,334 384 384 8.718 8,718 8,130 204 8,334 Net Book Value As at 31st December 2024 1,538 1,538 8]5 Net Book Value As at 31st December 2023 815 815 300 7L DEBTORS: AMOUNT FALLING DUE WITHIN ONE YEAR Sundi'y Debtors 1,-500 1.500 7B. BUILDING FUNDS INVESTMENT This is a Building fund created from the existing unrests'icted reserve of the Chi'ist Gospel Chi London Trust maintained as investment account with Barclays Bank PIC from August 2017 an the accumulated values of the investment at the end of the last two financial Ye'S are as folloi Barclays Bank Building Funds investment account 106,453 106,453 106.253 106,253 , CRLDITOKS: AMOUNT FALLING DUE WITHIIY ONE YEAR Ac¢aS 500 500 400 400 li
CHRIST GOSPEL CHURCH LONDON TRUST NOTES TO THE FINAYCIAL STATEMLN'I'S COIYTINUED FOR THE YEAR ENDED 31ST DECEMBER 2024 9. CONNEI CTED AND RELATED PARTY DISCLOSURES The Chai'ity has a veiy close relationship with the foundin8 father, Reverend (Dr) Simeon Adenigbagbe. who was Ihc deceased spouse of Deacune&s Rebecca Adenigbagbe (The Charity Chair) and the dccca8¢d father of Pastoi. Adedayo Adenigbagbe (who is also a member of the tt-Lonslituled board of the Iruslees). Pastoi. Simeon Adedayo Adenigbagbe is the Minist¢r-In-Charge and Senior Pastor who ov¢rsees Ihe day to day affairs of Chi'ist Gospel ChLwch London Twst and have Teceived rninist¢rial allowances during the year eiidcd 31 st Decembei" 2024 as follows:_ Pastoi. Simeon Adedayo Adenigbagbe Pastoi. Simeon Adedayo Adenigbagbe is oil 11 tim¢ service after the demise of Ihe foundillg faihei. and all allowaiices were paid at arms length basis and covers his travelliiig. telephone expenses and other basic needs as Ministei'_Tn-Charge of the Church. 10. UNRESTRICTED FUNDS OFTHE CHARITY Unreslrieled un Total Fund Balance as at I st January 2024 Net movement in the funds for the year Balance as at 3 Ist December 2024 118,254 9,857 128,111 108,267 9,987 118,254 11. RESTRICTED FUND B 5]dIn Balaiii Balance as at 1st January 2024 Net m Net movement in the funds for the year Balani Balance as at 3 1st December 2024 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS estrS¢ted Funds Unrestrleted Fund 2024 Tangible fixed assets Net Cun'ent Assets 1,538 126,574 1281Jl 12