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2025-07-31-accounts

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 JULY 2025

CITIFAITH INTERNATIONAL CHURCH

COMPANY Number: 05185527

CHARITY REGISTRATION Number: 1112463

1

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

THE CHURCH’S LEGAL AND ADMINISTRATIVE INFORMATION

Directors / Trustees:

Lesley Everson Lucy Edwards Wisdom Deffor Oludolapo Mohammed Ayodeji Sotannde

Operational Leadership Team: Lesley Everson – Senior Pastor Lucy Edwards – Associate Pastor Wisdom Deffor – Secretary Olu Mohammed – Treasury & Finance Charity Number: 1106273 Company Number: 05124435 Principal office: 38 - 40 Regent Street Swindon Wiltshire SN1 1JL Bankers: National Westminster Bank PLC 24-30 The Parade Swindon Wiltshire SN1 1BA

ANNUAL REPORT AND FINANCIAL STATEMENT

2

CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

FOR THE YEAR ENDED 31 JULY 2025

CONTENTS
PAGE
Content Page 3
Trustees Annual Report 4 - 8
Income Statement 9
Balance Sheet 10
Notes to the Financial Statements 11 - 16

CITIFAITH CHURCH TRUSTEES’ ANNUAL REPORT

3

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

FOR THE YEAR ENDED 31 JULY 2025

The directors of the charitable company (the charity) are its trustees for the purpose of the charity law and throughout this report are collectively referred to as its trustees.

The Citifaith Church trustees present their report along with the financial statements of the charity for the year ended 31 July 2025 . The financial statements have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2015) and comply with the charities Memorandum and Articles of Association and the Charities Act 2011.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Citifaith Church is a charitable company limited by guarantee, which was incorporated on 21st July 2004 and registered as a charity on the 8 December 2005. The company was established under a Memorandum of Association which established the objectives and the powers of the charitable company, and it’s governed by its Articles of Association, which was amended by a special resolution dated the 29th of May 2013. In the event of the company being wound up, the members are required to contribute an amount not exceeding £10.00 towards the winding down cost.

The directors of the company are also the charity’s trustees for the purpose of charity law and under the company’s Articles they are also known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the senior Pastor and other directors/trustees may remain in office until they resign or are deemed unfit to hold office by a majority of the members.

The directors are responsible for making decisions on all key operational and compliance matters of general concern and importance to the church including deciding and approving on how the funds of the church are sourced and applied.

Appointment, Training and Meetings of Trustees

The names of the trustees who have served the charity during the year and those appointed since the year end are set out on the legal and administrative information page. Trustees are appointed by the board and each year one third retires by rotation and either new trustees are identified, or previous serving trustees are reappointed.

Existing and newly appointed trustees are offered either internal or external training, depending on their experience and qualification. This is offered to support and help them to undertake and fulfil their roles and responsibilities effectively.

CITIFAITH CHURCH TRUSTEES’ ANNUAL REPORT

4

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

FOR THE YEAR ENDED 31 JULY 2025

The board of trustees meet at least four times a year (quarterly). The trustees ensure that the charity’s operations and activities comply with relevant regulations and legislations, remain solvent, managed effectively and continue to deliver charitable outcomes for the benefit of the public.

The Operational Leadership Team is responsible for the day-to-day running of the charity, with an escalation to the trustees where necessary and required.

Risk Management

The trustees have continued to conduct a review of the major risks to which the church’s activities and operations are exposed to during the year. A risk register established since 2004 has been kept up to date and reviewed at least annually. Where appropriate, systems or procedures have been established to mitigate the risks considered as outside the charity risk appetite.

The trustees have working relationship with an external Health and Safety company, which assist with the management of the Health and Safety risks in using the building.

OBJECTIVES AND ACTIVITIES

Objectives

The principal objects of the charity are:

The charity progresses these objectives through the various ministries, departments, and activities of the church, whilst continuing to engage with and support the local community in which it is based. Throughout the financial year, the church continued to organise outreach events, programmes, and community initiatives, supported by both employed staff and volunteers. These activities provided practical support to individuals and charitable organisations, while also creating opportunities to share and demonstrate the Christian faith.

The church also continued to work alongside churches and charities both within the UK and overseas to teach, empower, and equip people with life skills that support employment opportunities, strengthen family life, and encourage positive community involvement. Through teaching Christian values and principles, the charity seeks to contribute towards building stronger communities, reducing poverty, and encouraging people to live honourable and respectful lives.

During the financial year, church attendance continued to increase, particularly within the main Sunday services and midweek group meetings. Various initiatives were undertaken throughout the year to further the advancement of the Christian faith, including discipleship programmes, leadership development, and ministry training. Ongoing leadership development was supported through training sessions, mentoring, and the provision of relevant learning resources for leaders and volunteers.

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

Prayer remained central to the life of the church throughout the year, with weekly prayer meetings, pre-service gatherings, and monthly corporate prayer meetings continuing regularly. The worship ministry also experienced continued growth in both singers and musicians and has increasingly developed its media and technical support functions. The worship leader continued to participate in Swindon Worship Churches Together, an initiative that promotes unity and collaboration among churches across the area. Successful joint worship events were held during the year, with further events planned to encourage greater community participation and unity among churches throughout Swindon.

Vision & Mission

The Trustees recognise that the Church is not simply a building, but a diverse community of people whose lives have been transformed through faith in Jesus Christ. Following the principles established in the New Testament, the Church exists to worship together, encourage and strengthen one another, and equip its members to share the Christian faith within the wider community.

Citifaith, through its Trustees, leaders, and members, is committed to continuing these biblical principles by fostering gatherings for worship, discipleship, prayer, and spiritual growth. These gatherings are intended not only to build a strong faith community, but also to equip individuals to serve others and live out their faith in their daily lives.

Our mission is simple:

“To bring those who are far from Jesus to know Him.”

PUBLIC BENEFIT

In all of our activities, Citifaith Church remains committed to delivering clear public benefit by providing people of all ages and backgrounds with opportunities to explore and develop faith in Jesus Christ, to grow within a supportive and inclusive community, and to contribute positively to the wellbeing of Swindon and wider community.

.

6

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

CITIFAITH CHURCH TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2025

VOLUNTEERS

The trustees are deeply grateful for the commitment and support provided by the church’s volunteers, who generously contribute their time, skills, energy, and resources across a wide range of activities. Citifaith Church currently has over 100 people committed to serving on one or more of over 30 teams, ministries or Small Groups in the Church. Volunteers are assessed according to the experience and ability in any given area, and trained as necessary to fulfil the task in hand, and guidance to ensure that all volunteer activities are carried out in accordance with the church’s governance procedures and policies. Volunteers also participate in shared meals and social gatherings, helping to strengthen relationships, encourage teamwork, and foster a sense of belonging within the church community. The trustees are intentional in providing volunteering opportunities, recognising that volunteering not only supports the work of the charity but also contributes positively to community engagement and connection.

It is not possible to assign financial value to this resource and, accordingly, no such value is included within these accounts. However, the trustees recognise and acknowledge the considerable scale and impact of the volunteer contribution made throughout the year. The time, energy, and commitment of volunteers remain central to the activities and mission of Citifaith Church and are essential to the achievement of the church’s charitable objectives and ongoing ministry activities. The trustees express their sincere appreciation for this invaluable support.

The church places significant value on creating opportunities for individuals to volunteer, recognising the positive impact this has both on the work of the charity and on strengthening relationships within the wider church community. Volunteers regularly participate in team meetings, training sessions, shared meals, and social gatherings, which help encourage collaboration, fellowship, and compliance with the church’s governance procedures and policies.

.

REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS

Regular weekdays and weekend meetings have continued in full swing during the year to meet the public and the members’ needs. Members’ donations to the charity have now started to increase, however due to inflation expenses have gone up. The charity’s meetings are now all back to face to face including the main Sunday church services which continue to be recorded and posted to Facebook and YouTube.

Citifaith continues to broadcast live-streamed Sunday services on the Internet which has been gratefully received by many people both in the UK and beyond, with it now attracting its own “online congregation” engaged weekly.

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

Charity Objective (A)

The trustees are pleased to report that 2024–2025 has been another positive and encouraging year for Citifaith Church, with continued growth across many areas of the charity’s activities and ministries. Attendance at the church’s Sunday services, prayer meetings, and midweek gatherings increased throughout the financial year, reflecting ongoing engagement within the church community and the wider local area. Membership and volunteer participation also continued to grow, contributing to the effective delivery of the church’s programmes and activities.

Throughout the year, the church continued to pursue its vision of advancing the Christian faith, supporting individuals and families in need, and strengthening relationships within the local community. This was achieved through regular worship services, prayer meetings, discipleship programmes, pastoral care, outreach events, leadership development initiatives, and communityfocused activities.

Citifaith Church continued to work increasingly within the Swindon community through outreach programmes and partnership working with other churches, charities, community organisations, and local authorities. These activities enabled the church to provide practical support, encouragement, and assistance to individuals and families, while also creating opportunities to share the Christian faith.

Prayer remained central to the life of the church during the year. Weekly midweek prayer meetings, pre-service gatherings, and regular all-church prayer meetings continued consistently and formed an important part of the church’s spiritual life and ministry.

The church also continued to invest in leadership development and ministry training throughout the year. Leaders and volunteers were supported through training sessions, mentoring, and the provision of relevant resources designed to strengthen ministry effectiveness and encourage personal and spiritual growth.

The trustees are grateful for the commitment of church members, volunteers, staff, and supporters whose continued service and generosity have contributed significantly to the progress and impact of the charity during the year.

1. The Next Generation

The church’s ministries for children, young people, and young adults continued to grow throughout the financial year through a range of weekly programmes and activities designed to support spiritual development, wellbeing, and community engagement. All activities involving children and young people operate within the church’s safeguarding framework to ensure that participants are supported in a safe, secure, and appropriately supervised environment. All volunteers and workers involved in these ministries hold current DBS checks and receive safeguarding training appropriate to their roles.

I. Little Fishes (Under 4s) The Little Fishes programme continued to provide a welcoming and supportive environment for young children and their parents or carers. Weekly sessions included Bible stories, songs, play activities, and refreshments aimed at encouraging early learning, social interaction, and faith development.

II. CitiKidz (Ages 4–11) CitiKidz continued to deliver age-appropriate Christian teaching and activities for primary school-aged children. Weekly sessions focused on faith-based learning, personal development, and building positive relationships in a safe and engaging environment. During the year, the church also hosted its annual Kids Summer Club, which was attended by more than 50 children from both the church and wider community. Additional support workers were introduced during the year to better support neurodiverse children and help ensure that activities remained inclusive and accessible to all participants.

III. CitiYouth (Ages 11–18)

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

CitiYouth continued to develop as a vibrant and growing ministry serving young people aged 11 to 18. Weekly gatherings provided opportunities for discipleship, mentoring, personal development, practical skills training, and social engagement. The ministry aims to provide a welcoming, inclusive, and supportive environment where young people feel valued, encouraged, and supported in their personal, emotional, and spiritual development.

IV. Young Adults (20s–30s) The church’s young adults ministry continued to grow during the year, with individuals in their 20s and 30s gathering regularly for Bible study, fellowship, prayer, and community activities. The group provides opportunities for spiritual growth, mutual support, and meaningful connection amongst young adults within the church and wider community. Many young adults also actively serve across different areas of church life, including worship, hospitality, youth work, media, outreach, and community programmes, while continuing to invite friends and newcomers to church activities and events.

2. Safeguarding

Safeguarding policies remain robust, regularly reviewed and publicly available. Parents consistently express appreciation for the quality and safety of this provision.

3. Connect Groups

Midweek Connect Groups continue to be a vital part of our discipleship strategy, meeting across Swindon in homes. These gatherings create space for spiritual growth, support, and prayer.

4. Good News for Swindon

We continue to be actively involved with Good News for Swindon, a network of churches in the A Swindon, seeking to work together for the good of Swindon. Pastor Lucy Edwards sit on a steering board who plan and implement event throughout the year.

5. Evangelism and Community Engagement

Citifaith Church continues to encourage people to explore and develop faith in Jesus Christ through its in-person and online Sunday services, prayer meetings, teaching programmes, outreach initiatives, and community events held throughout the year.

The church seeks to demonstrate Christian values through worship, pastoral support, community engagement, and by encouraging members to be positive examples within their families, workplaces, and wider communities.

Much of this work is carried out through partnership working with other churches, charitable organisations, community groups, and local authorities. These partnerships enable the church to support wider community initiatives, respond to local needs, and provide practical and spiritual support to individuals and families within the community.

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CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

CITIFAITH CHURCH TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2025

Charity Objective (b)

During the past financial year, Love Swindon, the church’s community outreach programme, continued to strengthen and develop partnerships with local charities, community organisations, and support agencies in order to provide practical assistance and free community services to individuals and families within the local area.

This included regular garden maintenance and house renovation projects delivered in partnership with Safe Families. These initiatives provided practical support to vulnerable families and individuals within Swindon who had been referred through local authority services and partner agencies. Through these partnership activities, the church has continued to support members of the community experiencing hardship or challenging circumstances, while helping to promote wellbeing, community engagement, and social inclusion.

Charity Objective (c)

Citifaith Church continues to build good relationships with local authorities developing greater partnership working in the community. The building continues to be used by other community, businesses and voluntary groups and is proving to be a useful resource for the wider community.

RESERVES POLICY

It is our policy to maintain a balance on unrestricted funds (if possible), which equates to at least three months unrestricted payments, equivalent to £45,000, to cover emergency situations that may arise from time to time. The need for the charity to hold less in reserves is due to the fact that it only employs two full time and two part time employees and the building is leased and the running costs are considered as reasonable.

The most likely reason to call on the reserves would be if attendance and giving were to diminish significantly due to loss of members. It is the charity's policy to monitor growth statistics carefully and should growth and members’ donations fall significantly then measures would be taken to minimise the funding and liquidity risk.

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

FINANCIAL REVIEW

Income

Total income including both restricted and unrestricted received during 2024-25 was £279,630 (202324 was £236,503) this was an improvement in donations of 18.05% over last year. This increase can be attributed to the growth in church membership over the same period and renewed drive towards fundraising for a permanent church building. This is in spite of on-going challenges with cost of living continues to impact our congregation as this has reduced the disposal income available to members to donate.

The charity's main income stream is from tithes and offerings donated by the church members and regular attendees. In 2024-25 unrestricted tithes and offerings received was £213,771 (2023-24 was £191,041) and this was an increase of 11.8%.

Restricted offerings and donations for 2024-25 were £21,948 (2023-24 were £8,935) and this is a significant increase of 145.64% and it was driven by a renewed drive in fundraising for a permanent church building within the members’ donations to the Building Fund.

The income figure above includes £39,759 Gift Aid payments from the HMRC and this constitute 14.21% of total donations received.

Expenditure

The expenditure for the year 2024-25 totalled £273,853 (2023-24 was £226,726) and this was a significant increase in expenditure of 20.7% which slightly exceeded the 18.05% increase in donations..

Expenditure for the furtherance of the charity’s objectives for 2024-25 was £134,869 (2023-24 was £109,492) an increase of 23.18%. This reflects the increased outreach activities and pastoral effort to support the church growth post COVID 19 as church attendance and membership begins to recover.

The management and administration costs totalled £139,984 compared to £117,233 in 2023-24 which is a significant increase of 18.55%. The main drivers for expenditure increases were from increased costs for utilities accounting for £47,802 in expenditure for 2024-25 (2023-24 was £18,229) i.e. an increase of £29,572 as prices within the contracted supply was onerous for the church. The contract is due to end in March 2026 and should see management and administrative costs begin to show an improvement after that.

During the year 2024-25 salaries accounted for 39% of total expenditure, while in 2023-24 it was 42%, and the decrease in expenditure is from the departure of the office administrator. The post has been held vacant during the year to help minimise costs in recognition of the cost pressures from utilities. During this financial year the charity employed two full time employees on ministry-based positions and another part time employee.

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CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

This Trustees’ Annual Report and the Financial Statements was approved by the Citifaith Church’s trustees on 24[th] May 2026 and filed on their behalf by:

Olu Mohammed

Chair & Acting Treasurer

On Behalf of Citifaith Church Trustees

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

31 JULY 2025

THE INCOME AND EXPENDITURE STATEMENT

Note Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024 -25
2024 -25
2024 -25
2023 - 24
£
£
£
£
INCOME FROM:
Voluntary sources
2
Income from charitable trading
activities:
Other incoming resources
3
Charitable trading sales
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable activities
4
Management and administration
5
TOTAL RESOURCES EXPENDED
6
SURPLUS/(DEFICIT) FOR THE YEAR
Balances brought forward -1 Aug 2024
Balances carried forward -31 July 2025		 £253,530
£21,948
£275,478
£233,363
£0
£0
£0
£0
£4,152
£0
£4,152
£3,140
£0
£0
£0
£0
£257,682
£21,948
£279,630
£236,503
£117,418
£17,451
£134,869
£109,492
£138,273
£711
£138,984
£117,234
£255,690
£18,162
£273,853
£226,726
£1,992
£3,786
£5,777
£9,777
£83,561
£66,786
£150,347
£140,570
£85,552
£70,572
£156,124
£150,347

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

13

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

31 JULY 2025

THE BALANCE SHEET AS AT 31 JULY 2025

Notes Year
Year
2024 -25
2023 - 24
£
£
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Cash at bank
8
Debtors
9
CREDITORS: Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amounts falling due after more than one year
11
NET ASSETS
FUNDS
Unrestricted
12
Restricted
TOTAL FUNDS		 £94,624
£99,891
£57,673
£57,821
£4,690
£645
£62,364
£58,466
£0
£332
£62,364
£58,134
£156,989
£158,026
£865
£7,680
£156,124
£150,346
£156,124
£150,347
£0
£0
£156,124
£150,347

For the year ended 31 July 2025, the company was entitled to exemption under Section 249 a (1) of the Companies Act 1985. No members of the church have required the company to obtain an audit of its accounts for the year in question in accordance with Section 249 b (2). The directors acknowledge their responsibility for:

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

14

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation, uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102, Section 1A Small Entities – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

b) Preparation of the accounts on a going concern basis

The trustees are of the view that whilst the level of weekly collections aat church services remain uncertain, average collections remain fairly stable as is church attendance and with increased effort on hiring of the church hall, total income for the next 12 – 18 months should be sufficient to cover operating costs for the same period. On this basis, the assessment of the trustees is that the charity is a going concern.

c) Income recognition policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

d) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the church as per its governing objectives. Restricted funds are donations which the donor has specified that they are to be solely used for a particular purpose/objective of the church’s s work or for specific projects being undertaken by the church.

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

15

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

e) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a thirdparty supply for provision either services or goods. It is probable that settlement will be required, and the amount of the obligation can be measured reliably.

2. VOLUNTARY SOURCES

Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2024 - 25
2024 - 25
2024 - 25
2023 - 24
£
£
£
£
Donations tithes and Oferings
Love Oferings
Missions Local
Events and Conferences
Tax Recovered
Building Funds		 £213,771
£213,771
£191,041
£5,991
£5,991
£1,655
£115
£115
£1,580
£0
£3,836
£39,759
£39,759
£29,551
£15,842
£15,842
£5,700
£253,530
£21,948
£275,478
£233,362

3. OTHER INCOMING RESOURCES

Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2024 - 25
2024 - 25
2024 - 25
2023 - 24
£
£
£
£
Interest earned
Others - Sales and other contributions
Summary of income:
Voluntary resources
Other income resources		 £1,292
£1,292
£340
£2,860
£0
£2,860
£2,800
£4,152
£0
£4,152
£3,140
£253,530
£21,948
£275,478
£233,363
£4,152
£0
£4,152
£3,140
£257,682
£21,948
£279,630
£236,503

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

4. COSTS IN FURTHERANCE OF CHARITABLE OBJECTS

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

4. COSTS IN FURTHERANCE OF CHARITABLE OBJECTS

Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2024 - 25
2024 - 25
2024 - 25
2023 - 24
£
£
£
£
Provision of charitable services:
Salaries
Events and Conferences
Guest speakers
Lease payments
Local Missions & Social needs
Outreach & Missions
Tax and N.I. Arrears - Charitable Services		 £76,939
£76,939
£49,119
£5,708
£5,708
£9,711
£9,821
£9,821
£2,961
£38,400
£38,400
£38,400
£458
£1,922
£2,381
£3,292
£1,620
£1,620
£4,167
£0
£1,843
£117,418
£17,451
£134,869
£109,492
Analysis of provision of charitable services:
Staf Costs
Other Costs
Total
Total
2024 - 25
2024 - 25
2024 - 25
2023 - 24
£
£
£
£
Salaries
Events and Conferences - Expenses
Guest speaker
Lease payments
Local Missions & Social needs
Outreach & Missions
Tax and N.I. Arrears - Charitable Services		 £76,939
£76,939
£49,119
£5,708
£5,708
£9,711
£9,821
£9,821
£2,961
£38,400
£38,400
£38,400
£2,381
£2,381
£3,292
£1,620
£1,620
£4,167
£0
£1,843
£76,939
£57,930
£134,869
£109,492

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

5. MANAGEMENT AND ADMINISTRATION COSTS

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2024 - 25
2024 - 25
2024 - 25
2023 - 24
£
£
£
£
Salaries
Ofice costs
Accountancy fees
Legal and professional
Depreciation
Maintence and repairs
Gas & electricity
Tax and N.I. Arrears - Others
Loan Payments		 £30,613
£0
£30,613
£45,811
£47,386
£0
£47,386
£33,142
£0
£0
£0
£0
£1,968
£0
£1,968
£3,354
£5,267
£0
£5,267
£5,331
£5,948
£0
£5,948
£6,786
£47,091
£711
£47,802
£18,229
£0
£0
£4,580
£0
£0
£138,273
£711
£138,984
£117,233

6. TOTAL RESOURCES EXPENDED

Staf costs
Other costs
Total
Funds
Total
Funds
2024 - 25
2024 - 25
2024 - 25
2023 - 24
Direct charitable expenditure
Management and administration		 £
£
£
£
£76,939
£57,930
£134,869
£109,492
£30,613
£108,371
£138,984
£117,234
£107,552
£166,301
£273,853
£226,726

7. PARTICULARS OF EMPLOYEES

The average number of full time and part time staff employed by the church during the financial year 2024 - 25 remained at three. Only one senior member of staff received a remuneration in excess of £40,000 per annum.

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

8. TANGIBLE FIXED ASSETS

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CITIFAITH CHURCH

A COMPANY LIMITED BY GURANTEE

Equipment
Fixtures &
Fittings
Leasehold
Property
Improvements
This Year
Total
2024 - 25
£
£
£
£
Cost
Cost as at 1 August 2024
£80,849
£185,561
£35,000
£301,410
New additions
£0
£0
£0
£0
Total Cost as at 31 July 2025
£80,849
£185,561
£35,000
£301,410
Depreciation
Accumulated depreciation as at 1 August
£40,171
£127,710
£33,637
£201,519
Depreciation charge for the year 2024-25
£2,034
£2,893
£341
£5,267
Accumulated Depreciation at 31 July 202
£42,205
£130,603
£33,978
£206,786
NET BOOK VALUE
Net Book Value at 31 July 2025
£38,644
£54,958
£1,022
£94,624
Net Book Value at 31 July 2024
£40,678
£57,851
£1,363
£99,891		 £
£
£
£
£80,849
£185,561
£35,000
£301,410
£0
£0
£0
£0
£80,849
£185,561
£35,000
£301,410

£40,171
£127,710
£33,637
£201,519
£2,034
£2,893
£341
£5,267
£38,644
£54,958
£1,022
£94,624
£40,678
£57,851
£1,363
£99,891

9. BANK BALANCES: Bank Deposits and Current Account

This Year
Last Year
2024 - 25
2023 - 24
Bank Balances
Savings Account
Current Account		 £
£
£50,595
£54,619
£7,078
£3,202
£57,673
£57,821

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

10. DEBTORS: Amount falling due within one year

19

CITIFAITH CHURCH A COMPANY LIMITED BY GURANTEE

This Year
Last Year
2024 - 25
2023 - 24
£
£
Rent - Prepayment
Other Debtors		 £4,690
£0
£645
£4,690
£645

11. CREDITORS: Amount falling within one year

12. CREDITORS: Amount falling due after more than one year

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

This Year
Last Year
Total
Total
Funds
Funds
2024 - 25
2023 - 24
Tangible fxed assets
PLUS:Current assets
LESS:Creditors		 £
£
£94,624
£99,891
£62,364
£58,466
£865
£8,012
£156,124
£150,347

20