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← Christ Faith Tabernacle International

2025-06-30-accounts

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CHRIST FAITH TABERNACLE INTERNATIONAL (A company limited by guarantee)

Annual Report and Financial Statements For the year ended 30 June 2025

Company Registration No: 05144212 (England and Wales) Charity No: 1105674

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CHRIST FAITH TABERNACLE INTERNATIONAL

Reference and administrative information

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Trustees and Directors Reverend A.T.B. Williams
Mr. T. O. Adisa
Mr. S.C. Ahamefula
Mr. O. A. Bilewu
Secretary Mr. O. A. Bilewu
Registered officeand operational address Bethesda Building
56-62 New Cross Road
London
SEI4 5BD
Bankers HSBC
184 High Street
Bromley
Kent
BRI 1HE
Accountants Right Balance Accountants
& Business Consultants Ltd
48b High Street
Dunmow
Essex
CM6
Auditors BeavisMorgan Audit Limited
82 St John Street
London
ECIM 4JN
Solicitors Wellers
Tenison House
Tweedy Road
Bromley
Kent
BRI 3NF
Charitynumber 1105674
Company number 05144212
Charitywebsite www.cftchurches.org

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CHRIST FAITH TABERNACLE INTERNATIONAL

Contents

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Pages

1-5 Trustees’ Report
6-8 IndependentAuditors’ Report
9 Statement ofFinancial Activities
10 Balance Sheet
ll Statement ofCash Flows
12-22 NotestotheFinancialStatements

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CHRIST FAITH TABERNACLE INTERNATIONAL

Trustees’ Annual Report for the year ended 30 June 2025

The Trustees present their Annual Report and the audited financial statements for the year ended 30 June 2025, This report is a Directors’ Report as required by section 417 of the Companies Act 2006 and a Trustees’ Annual Report as required under Part 8 of the Charities Act 2011.

The Trustees confirm that the financial statements comply with the requirements of the company’s governing documents, the Charities SORP (FRS 102), and the Companies Act 2006.

Structure, Governance and Management

Governing document

Christ Faith Tabernacle International was incorporated and registered as a charitable company on 3 June 2004 and is limited by guarantee. The governing document is the Memorandum and Articles of Association dated 4 May 2004.

Christ Faith Tabernacle International was registered as a charity on 31 August 2004.

Recruitment and Appointment of Trustees

The board of Trustees consists of at least three and not more than nine individuals, all of whom must be members. One third of the Trustees must retire at each Annual General Meeting, those longest in office retiring first, any vacancies being filled by the selection and appointment of suitable persons by the Trustees.

Trustee Induction and Training

The existing trustees are already familiar with the practical work of the company.

Additionally, any new trustees are invited and encouraged to attend training sessions to familiarise themselves with the company and the context in which it operates, including obligations of Trustees, the operational framework for the company, including the Memorandum and Articles, and future plans and objectives.

Risk Management

The Trustees undertake ongoing assessments to identify and prioritise the company’s risks and to strengthen organisational resilience. The operating environment is kept under regular review to identify significant potential risks, with measures put in place to avoid or mitigate their impact. Particular attention has been given to risks associated with cyber attacks, with continued enhancement of the risk management framework, including strengthened controls over computer systems, improved monitoring, and staff awareness measures. The implementation of the Business Continuity Plan is monitored on an ongoing basis. Appropriate Disclosure and Barring Service (DBS) checks are carried out for all individuals working directly with children. The robustness of the Business Continuity plans has been tested, and remote working arrangements have been successfully implemented with minimal disruption to operations.

The charity has mortgages outstanding of £2,330,863 in respect of the Granada Theatre, Woolwich. Interest is payable on the mortgages at rates linked to base rate.

Prevention and Detection of Fraud

The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, that its assets are safeguarded against unauthorised use or disposal, that the charity complies with relevant laws and regulations and for taking reasonable steps for the prevention and detection of fraud. The Trustees are also responsible for ensuring that the charity is operating efficiently and effectively, proper records are maintained and that the financial information used within the charity or for publication is reliable.

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CHRIST FAITH TABERNACLE INTERNATIONAL

Trustees’ Annual Report for the year ended 30 June 2025 (continued)

Governance & Internal Control

The Trustees meet regularly to review the finances and administration of the charity. The systems of internal control are designed to provide reasonable assurance against material misstatement or loss. They include an annual budget approved by the Trustees; consideration by the Trustees of financial results, variances from budgets and non-financial performance indicators; delegation of authority and segregation of duties; and identification and management of issues of strategic and operational importance to the charity.

Structure

Transactions with Related Parties

The transactions with related parties during the year are set out in Note 14.

Objectives and Activities

The company’s principal objectives are the propagation of the gospel, the advancement of the Christian Faith and the relief of poverty.

Each year, the Trustees review the objectives and activities to ensure they continue to reflect our aims. In carrying out this review, the Trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

Achievements, Performance and Impact

The charity continues to deliver measurable impact across London, the UK, Europe, and internationally, advancing its mission to support communities through spiritual engagement, social action, and practical interventions. Our international activities have sustained community support across Germany, the Republic of Ireland, Nigeria, India, the Republic of Benin, and Céte d’Ivoire. These programmes continue to strengthen local capacity through missionary work, community engagement, and leadership development, contributing to long-term resilience and social cohesion in the regions served.

The Jesus City Project (A Refuge for Nations) in Nigeria has progressed further during the year. Targeted investment has been deployed to support the development of the 400-acre site, with a particular focus on enabling the requirements for Global Planning Approval by the State Government. This represents a critical step toward unlocking the project’s long-term impact potential as a centre for community development, education, and social transformation. While the project remains in its developmental phase, progress made this year has materially advanced its feasibility and delivery pathway

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CHRIST FAITH TABERNACLE INTERNATIONAL

Trustees’ Annual Report for the year ended 30 June 2025 (continued)

Digital engagement continues to extend the charity’s reach beyond physical locations. Through live webcasts, social media platforms such as YouTube and Facebook, and broadcasts on the Faith Channel, the charity has expanded access to its programmes globally. This has enabled broader participation, increased engagement, and improved accessibility for individuals unable to attend in person, strengthening community connection across geographic boundaries.

During the year, the charity delivered a broad programme of community-focused initiatives, including health and cancer awareness seminars, prayer conferences, business workshops, drama productions, musical concerts, and leadership training sessions. These activities have contributed to improved wellbeing, increased knowledge, and enhanced personal and professional development among participants. The charity’s continued investment in training across leadership, communication, entrepreneurship, and financial literacy has equipped beneficiaries with practical skills to improve employability and economic participation.

The food distribution programme, delivered in partnership with Neighbourly, remains a key area of direct community impact. Through collaborations with Marks & Spencer, Sainsbury’s, Lidl, Iceland, Boots, Gail’s Bakery and Pret A Manger, the charity has continued to redistribute surplus food to individuals and families experiencing hardship. This initiative has both reduced food waste and provided consistent access to nutritious food for vulnerable groups, addressing immediate needs while supporting wider community wellbeing.

In addition, the Tabernacle Women have spearheaded a weekly Soup Kitchen initiative, providing hot meals to homeless individuals within the local community. This programme delivers consistent, direct support to those most in need, while also fostering dignity, connection, and a sense of community among beneficiaries.

The Dorcas Group has continued to provide targeted support to vulnerable individuals, including older people, widows, widowers, and those facing financial hardship. Through coordinated emotional, | practical, and financial assistance, the group has strengthened social support networks and reduced isolation within the community.

Youth development remains a core priority. Programmes such as Young Professionals in Christ (YPiC) and Youth of Royal Destiny (YORD) have continued to deliver mentoring, career development, and personal growth opportunities. Complementing these initiatives, the charity has further strengthened its Career and Personal Mentoring Programme, designed to empower, equip, and enable the younger generation to achieve their career and personal aspirations. The programme provides both spiritual and practical guidance through structured one-to-one mentoring relationships, fostering accountability, confidence, and clearer progression pathways for participants.

The charity has also sustained its commitment to education through scholarships, tutoring, mentoring, and study support initiatives. These programmes have contributed to improved academic outcomes, increased confidence, and enhanced future prospects for participating students. Complementary leadership and career development activities continue to prepare young people for long-term success.

The “Catch Them Young (CtY)” programme continues to deliver early-stage impact by supporting the personal and moral development of children under 12. Through structured learning, workshops, and educational activities, the programme is helping to build strong foundational values and positive developmental outcomes.

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CHRIST FAITH TABERNACLE INTERNATIONAL

Trustees’ Annual Report for the year ended 30 June 2025 (continued)

Following the acquisition of a permanent place of worship in Bristol, the charity has seen clear positive outcomes. The Bristol congregation has successfully transitioned into the new facility and is experiencing steady growth. The building is now operating as a stable hub for worship and community engagement, enabling expanded outreach activity and strengthening the charity’s regional presence.

Progress has also been made on the planned redevelopment of the Bethesda Building in New Cross Road, London SE1!4. During the year, the charity submitted a full planning application for the site, marking a significant milestone in advancing the project. Planning permission is currently awaited.

Once delivered, the redevelopment is expected to generate substantial community impact through:

This project represents a strategic investment in long-term community infrastructure, with the potential to deliver sustained social, economic, and spiritual benefits.

Future Focus

Looking ahead, the charity will continue to focus on scaling its impact by strengthening partnerships, investing in strategic projects, and enhancing programme delivery. Key priorities include progressing the Jesus City Project through planning approval stages, advancing the Bethesda redevelopment, and building on the growth and stability achieved in Bristol.

The trustees remain confident that the charity is well-positioned to deliver increased impact in the years ahead, supported by strong foundations, clear strategic direction, and a continued commitment to serving communities in need.

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| ThePrincipalprincipal Fundingfunding Sources | Reserves Policy | It is the policy of the

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CHRIST FAITH TABERNACLE INTERNATIONAL

Trustees’ Annual Report for the year ended 30 June 2025 (continued)

Financial Review

The movement of the Charity’s financial resources for the year is shown in the Statement of Financial Activities on page 9. The highlights are:

source for the Charity is donations from the congregations at services held.

It is the policy of the Charity to maintain sufficient unrestricted funds to cover management and administration costs for a period of 3 months, When deciding the level of reserves, the Trustees take into consideration the forecasts for levels of income and expenditure for the coming year, the reliability of each source of income and the prospects for opening up new sources. The Trustees consider the current level of unrestricted funds maintained by the Charity is deemed adequate. In the light of the long-term loans taken out on the freehold properties purchased for the Charity’s intended use, sufficient reserves must be maintained to fund the related finance costs and satisfy the loan covenants until these loans are fully repaid.

Restricted funds are funds that account for situations where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose.

Statement of Trustees’ responsibilities

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The Trustees (who are also the directors for the purposes of company law) are responsible for preparing the Annual Report and financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the period.

In preparing these financial statements the Trustees are required to:

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CHRIST FAITH TABERNACLE INTERNATIONAL

Trustees’ Annual Report for the year ended 30 June 2025 (continued)

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Statement of Trustees’ responsibilities (continued)

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

This report has been prepared in accordance with the provisions applicable to the small companies’ regime.

Approved by the Trustees and signed on their behalf by:

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Mr O. A. Bilewu k Ls |
Trustee Date: por ma\ Zoe
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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF CHRIST FAITH TABERNACLE INTERNATIONAL

Opinion

We have audited the financial statements of Christ Faith Tabernacle International (the ‘charitable company’) for the year ended 30 June 2025 which comprise a Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and the United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finance Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon, Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF CHRIST FAITH TABERNACLE INTERNATIONAL (continued)

Opinion on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on pages 4 and 5 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that included our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which procedures are capable of detecting irregularities, including fraud, is detailed below.

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF CHRIST FAITH TABERNACLE INTERNATIONAL (continued)

Extent to which the audit considered capable of detecting irregularities, including fraud Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements, During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified, However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error, As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.fre.org.uk/auditorresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

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Matthew Burge — Senior Statutory Auditor
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| Chartered Accountants
Statutory Auditor
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Date: Le Apal bode,
82 St John Street
London
ECIM 4JN
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CHRIST FAITH TABERNACLE INTERNATIONAL

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 30 June 2025

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Year ended 30June June 2025 Year ended 30June2024
Note Unrestricted
Funds		 Total
Funds		 Total
Funds
s
£ £ £
Income
Income from:
Donations
GiftAidondonations
Investment income		 2
3		 1,929,718
334,580
8 208		 1,929,718
334,580
8 208		 1,930,411
293,302
31 817
Charitable activities 4 108,615 108,615 132,317
Total income 2,411,121 2,411,121 2,387,847
Expenditure on:
Charitable activities 1,657,110 1,657,110 1,436,213
Finance
costs,
interest		 payable and
othercharges 195,299 195,299 216,762
Governance costs 17,987 17,987 15,283
Total expenditure 6 1,870,396 1,870,396 1,668,258
orton TS ———————
Net income 5 540,725 540,725 719,589
Total funds broughtforward 9,657,410 9,657,410 8,937,821
Totalfundscarriedforward 11 10,198,135 10,198,135 9,657,410

The statement of financial activities includes all gains and losses recognised in the period.

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All incoming and expended resources derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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The notes on pages 12 to 22 form part of these financial statements.

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| CHRIST FAITH TABERNACLE INTERNATIONAL

Balance sheet at 30 June 2025

Notes 2025
£		 2024
£
Fixed assets
Tangible fixed assets 7 8,733,903 8,371,735
Current assets
Debtors
Cash at bank and in hand		 8 358,581
3,685,941		 193,305
3,641,214
Creditors due within one year 9 (385,239) (213,668)
Net current assets 3,659,283 3,620,851
Total assets less current liabilities 12,393,186 11,992,586
Creditors due afterone year 10 (2,195,051) (2,335,176)
Net assets 10,198,135 9,657,410
Income funds
UnrestrictedFunds il 10,198,135 9,657,410

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Trustees on AS |e4|202.and signed on their behalf by:

Mr S. C. Ahamefula Trustee

Company Registration No: 05144212

Charity No: 1105674

The notes on pages 12 to 22 form part of these financial statements.

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CHRIST FAITH TABERNACLE INTERNATIONAL

Statement of cash flows for the year ended 30 June 2025

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||||||||| |---|---|---|---|---|---|---|---| |Notes|2025|2024| |£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|16|{074,263|1,268,412| |Investing|activities| |Purchase|of tangible|assets|(713,227)|(480,669)| |Disposal|of tangible|assets|1,200|31,757| |Net cash|used|in|investing|activities|(712,027)|(484,912)| |Financing|activities| |Repayment|of borrowings|(124,857)|(106,594)| |Interest|paid|(192,652)|(212,417)| |Net cash|used|in|financing|activities|(317,509)|(319,011)| |Net|increase|in|cash and|cash|equivalents|44,727|500,489| |Cash|and cash|equivalents|at|beginning|of year|3,641,214|3,140,725| |Cash|and|cash|equivalents|at end|of year|3,685,941|3,641,214|

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CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025

1, Accounting policies

Charity information

Christ Faith Tabernacle International is a private company limited by guarantee incorporated in England and Wales. Bethesda Building, 56-62 New Cross Road, London, SE14 5BD.

(a) Basis of preparing the financial statements The accounts have been prepared in accordance with the FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for Charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The company is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in Sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Under Companies Act 2006 s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

The financial statements have been prepared on the basis that the fundamental accounting concept of going concern is applied. In 2011 the charitable company purchased a freehold property which was financed by way of a bank loan of £3.885m. In light of this, cash flow forecasts have been prepared on a monthly basis to ensure the charitable company complies with the bank covenants, which it has done, and it is considered that the charitable company will be able to continue in operational existence for the foreseeable future.

On the basis of the foregoing the Trustees consider that the going concern concept continue to be appropriate and has therefore been applied.

(b) Incoming resources Voluntary income including donations, gifts and legacies are recognised where there is entitlement, which is generally on receipt, and the amount can be measured with sufficient reliability.

Investment income is recognised on a receivable basis.

{c) Tangible fixed assets

All relevant assets are capitalised at cost at the time of purchase. Assets are depreciated from the date that they are ready for use.

Depreciation has been charged on the freehold property in order to write off the buildings over their estimated useful lives at the rate of 2% - 15% per annum on cost. Depreciation is provided to write off the cost of other fixed assets over their estimated useful lives at the rate of 15% - 25% per annum on cost. : The Trustees review the carrying value for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

(d) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Resources expended include attributable VAT that cannot be recovered and is reported as part of the expenditure to which it relates:

(e) Funds General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

Restricted funds are funds that account for situations where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose. There were no such funds at 30 June 2025 (2024 - £nil),

(f) Finance and operating leases Assets purchased under finance leases are capitalised as fixed assets, and the obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written off to the SOFA over the period of the lease so as to produce a constant periodic rate of charge.

Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred.

(g) Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received,

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

(h) Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transactions is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Fund’s contractual obligation expires or are discharged or cancelled.

2. Voluntary income 2025
£		 2024
£
Donations 1,929,718 1,930,411
3. Investmentincome 2025 2024
£ £
Bank interest received 35,683 31,817
Other interest received 2,525 -
38,208 31,817

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CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

4, Other income 2025 2024
£ £
Rent received 108,551 104,353
Online advertising
Insurance settlement received		 64
5		 -
27,964
108,615 132,317
5. Netincoming resourcesforthe year 2025
£		 2024
£
This is stated after charging:
Depreciation
(Profit)/Loss on disposals
Directors’ remuneration (see note 6)		 350,579
430
116,097		 330,054
(28,905)
116,097
Auditors’ remuneration ~ audit
Auditors’ remuneration— non audit		 14,400
4,272		 12,000
1,050
6. Analysis oftotal resourcesexpended
w3
==
a
&
SS
rT)
@ 2
> 2
as
3 3
om
Os		 2025
Total		 2024
Total
Staffcosts Time 285,474 - 285,474 233,948
Church running expenses,
maintenance& repairs		 Usage 296,870 3,587 300,457 446,692
Evangelism, honorarium
& donations
Sundry office costs
Travel & motorexpenses
Audit fees
Professional fees		 Direct
Usage
Usage
Direct
Usage		 449,848
129,856
87,775
-
$6,764		 -
-
-
14,400
-		 449,848
129,856
87,775
14,400
56,764		 195,237
125,663
87,315
12,000
49,492
Bank charges& financecosts
Loan &HP interest		 Usage
Usage		 2,161
192,652		 -
-		 2,161
192,652		 4,345
212,417
Depreciation
(Profit)/loss on disposals		 Usage
Usage		 350,579
430		 -
-		 350,579
430		 330,054
(28,905)
£1,852,409 £17,987 £1,870,396 £1,668,258
Staffcosts: 2025 2024
£ £
Minister in charge
Housingallowance
Wages and salaries
Social security costs
Pension costs		 84,897
31.200
146,064
18,524
4,789		 84,897
31,200
98,729
15,532
3,590
285,474 233,948

6. Analysis of total resources expended

16

|

|

CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

6. Analysis of total resources expended (continued)

During the year Reverend A.T.B. Williams, who was also a Trustee Director, earned £116,097 (2024 - £116,097) including £31,200 (2024 - £31,200) housing allowance for his service in furthering the objectives of the charitable company. This was the only employee earning in excess of £60,000. In addition to salary and housing allowance, the Trustee Director also received benefits in kind of £525 (2024 - £458) during the year. Pension contributions paid by the charity in respect of Reverend A.T.B. Williams were £1,321 (2024 - £1,321).

The authority for the above remuneration payments was given by the charitable company’s articles and memorandum of association.

The total compensation paid to key management personnel is £116,097 (2024 - £116,907).

The charitable company did not reimburse any expenses to the Trustees during the year.

The average number of employees, analysed by function, was:

2025 2024
No. No.
Church 1
Administration 5 3
6 4
7. Tangible fixed assets
Breelrold
Property		 Computers,
fixtures&
4
equipment		 Motor
Vehicles		 Total
£ £ £ £
Cost:
At 30 June 2024 10,552,126 1,186,459 143,268 11,881,853
Additions
Disposals		 669,591
-		 43,636
-		 -
(1,200)		 713,227
(1,200)
At 30 June2025 11,221,717 1,230,095 142,068 12,593,880
Depreciation:
At 30 June 2024 2,445,347 975,067 89,704 3,510,118
Charge forthe year
On disposals		 257,604
-		 75,280
-		 17,695
(720)		 350,579
(720)
At 30 June2025 2,702,951 1,050,347 106,679 3,859,977
Net book value:
At 30June2025 8,518,766 179,748 35,389 8,733,903
At30June2024 8,106,779 211,392 53,564 8,371,735

17

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<|||

CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

==> picture [431 x 84] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Debtors|2025|2024| |£|£| |Prepayments|and|accrued|income|107,058|113,377| |Gift|Aid|recoverable|163,695|76,407| |Other debtors|87,828|3,521| |358,581|193,305|

----- End of picture text -----

Included in other debtors is an interest-free loan with a present value of £66,889 made to The Incorporated Trustees of Christ Faith Tabernacle International (Nigeria). This is part of a £500,000 facility provided by the church and is fully repayable by 31 December 2044.

==> picture [468 x 193] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Creditors due|within|one year|2025|2024| |£|£| |Bank|loans|(note|10)|135,811|120,543| |Trade|creditors|206,225|49,935| |Taxation|and|social|security|3,994|3,521| |Other creditors|12,662|15,129| |Accruals|and|deferred|income|26,547|24,540| |385,239|213,668| |10.|Creditors|due|in more than one year|2025|2024| |£|£| |Bank|loans|2,195,051|2,335,176| |2,195,051|2,335,176|

----- End of picture text -----

The bank loan figures incorporate a single loan for one property which is as follows:

Ebenezer Building

The bank loan is repayable monthly over a term of 300 months from October 2011 with interest charged at 3.2% above bank base rate and is secured on the freehold property at 186 Powis Street, London, known as the Ebenezer Building.

==> picture [431 x 146] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Analysis|of loans| |£|£| |Bank|loans|2,330,862|2,455,719| |Bank|loans|due|within|one year|(135,811)|(120,543)| |Bank|loans|due|after more|than|one|year|2,195,051|2,335,176| |Loan|maturity|analysis| |Balance|due|between|one|and|two|years|146,403|131,180| |Balance|due|between|two|and|five|years|510,011|466,320| |Balance due|more than|five|years|1,538,637|1,737,676|

----- End of picture text -----

19

|

| | |

|

CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

11, Statement of funds

|

|

|

Total
puns
2024		 Incomin
Resources		 Outgoin
Resources		 Jintal
Funds
2025
Unrestricted funds:
General funds £9,657,410 £2,411,121 £1,870,396 £10,198,135
General
Funds		 Total
Funds
2025		 Total
Funds
2024
Represented by:
Tangible fixed assets
Net current assets/(liabilities)
Longterm liabilities		 8,733,903
3,659,283
(2,195,051)		 8,733,903
3,659,283
(2,195,051)		 8,371,735
3,620,851
—-(2,335,176)
£10,198,135 £10,198,135 £9,657,410

Unrestricted funds

Unrestricted funds comprise funds which the Trustees are free to use in accordance with the charitable objects.

Restricted funds

There were no restricted funds during the year.

12. Financial instruments

Financial instruments
Carryingamount offinancial assets (excluding cash) 2025 2024
£ £
Debt instruments measured at amortised cost - -
Carryingamountoffinancial liabilities 2025
£		 2024
£
Debt instruments measured at amortised cost 2,576,296 2,545,323
2,576,296 2,545,323

13. Ultimate controlling party

The ultimate controlling party is considered to be the Trustees, as a body.

20

CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

14. Related party transactions

During the year Reverend A.T.B. Williams, who was also a Trustee Director, earned £116,097 (2024 - £116,097) including £31,200 (2024 - £31,200) housing allowance for his service in furthering the objectives of the charitable company. In addition to salary and housing allowance, the Trustee Director also received benefits in kind of £525 (2024 - £458) during the year. Pension contributions paid by the charity in respect of Reverend A.T.B. Williams were £1,321 (2024 - £1,321).

P.O. Williams, who is the spouse of A.T.B. Williams, was paid £49,820 (2024 - £49,820) in remuneration for her service in furthering the objectives of the charitable company. In addition to salary, she also received benefits in kind of £525 (2024 - £458) during the year. Pension contributions paid by the charity in respect of P. O. Williams were £1,307 (2023 - £1,309).

15. Share capital

|

The charitable company is limited by guarantee and has no share capital. Every member of the charitable company guarantees to contribute a maximum of £1 on winding up, within one year after ceasing to be a member.

16. Cash generated from operations

2025 2024
£ £
Surplus forthe year 540,725 719,589
Adjustments for
Interest paid
Depreciation and impairment oftangible fixed assets
Depreciation on disposal oftangible fixed assets		 192,652
350,579
(720)		 212,417
330,054
(31,462)
Movements in working capital
(Increase)/decrease in debtors
Increase/(decrease) in creditors		 (165,276)
156,303		 55,612
(17,798)
1,074,263 1,268,412

21

CHRIST FAITH TABERNACLE INTERNATIONAL

Notes to the accounts for the year ended 30 June 2025 (continued)

17. Critical accounting estimates and judgement

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods,

Annual depreciation charged for the tangible assets is sensitive to changes in estimated useful economic lives and residual values of the assets, which are ones of the areas where judgement has been applied.

22