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← Christ Apostolic Church New Testament Assembly

2023-12-31-accounts

CHRIST APOSTOLIC CHURCH NEIV TESTA)L IENT ASSEI•IIILY (CACNTA) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Christ Apostolic Church New Testament Assembly Legal and Administrative Details For the year ended 31 December 2023 Status The organization is a registered Charity. Charity Number 1115710 Registered Of"tice I"hird Floor, 28 - 30 Victoria Street, Luton Bedfordshire LUI 2UA Management Board Pastor S.0. Oluwasola Pastor E. A Adeosun Elder A.S.P. Adeusi Dcn O.S. Opoola Dcn A.E. .lonathan Dcn A.M. Adekanle Mr A.Il. Oluwasola Trustee Trustee Trustee Trustee I"rustee Trustee Trustee Bankers HSBC Bank PIC 63 George Street Luton Beds LUI 2AP

Christ Apostolic Church New Testament Assembly Report of the Management Board For the year ended 31 December 2023 Members of the Management Board, ￿,hO are also the trustees under the charity law, present the Financial Statements f'or the year ended 31 December 2023. Responsibility of the Management Board Charity law requires the Management board as Trustees to prepare financial statements for each financial year w'hich giiie a true and t.air Triew of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application ot'rcsource.s including income and expenditure for the year ended. In preparing those financial statements which give a true and fair view, the Management Board should follow the best practice and: select suitable accounting policies and then apply them consistently make judgments and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the tinancial statements prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue on that basis The Management Board members is responsible for keeping accounting records which disLlose with reasonable accuracy at any time the financial position of" the charity and to enable them to ensure that the financial stalements comply with the law. The Management Board is also responsible t'or safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and delection of fraud and other irregularities.

Christ Apostolic Church New Testament Assembly Report of the Management Board For the year ended 31 December 2023 Management Board The Management Board who served during the year up to the date of this report were as follow Pastc)r S.0. Oluwasola Pastor E. A Adeosun F.Idcr A.S.P. Adeusi DLn O.S. Opoola Dcn A.L. Jonathan Dcn A.M. Adekanle Mr A.H. Oluwasola Chairnian Member Member Member Member Mcmber Member The Management Bc)ard dclcgated the day to day operation of the Charity to those concerns. Election to the Management Board takes place at the AGM by full members of the Church. Members of" the Management Board have no beneficial interest in the Charity. Approved by the Management Board on io Og- and signed on its behalf by:_ Pastor S. O. Oluwasola Chairman Elder A. Trustee .P. Adeusi .141,:}A.o8 Date. ILI-.!o-2f

Christ Apostolic Church New Testament Assembly Balance sheet as at 31 December 2023 2023 2022 Current Assets Cash at Bank and in Hand Cash at hand Project (Secured) 2,040.30 1,973.05 Creditors Unsecured Loan 46.790.00 41,298.78 Total Income 446.920.40 429,878.55 'l-otal Lxpcnditure 445,460.35 427,905.50 Total Balance 44 749.70 39 325.73

Christ Apostolic Church New Testament Assembly Statement of Financial Activities (Including Income and Expenditure Account) For the year ended 31 December 2023 l. Incoming Resources 2023 Total 2022 Total Restricted Unrcstricted Donations and Grants D O Covenant (Tithe) Luton D O C'ovenant (Tithe) Milton Keynes D O Covenant (Tithe) Northampton D O Covenant (Tithe) Sandwell D O Covenant (Tithe) BLdford D O Covenant (Tithe) Southampton Offering and Thanksgiving Luton Offering and Thanksgiving Milton Keynes Offering and Thanksgiving Northampton Offering and Thanksgiving Sandwell Offering and Thanksgiving Bedf"ord ot"f"ering and Thanksgiving Southampton Building F"und Gift from oiher Charities Personal (iitts/ Donations Church Anniversaries Gift Aid Repaynient Mission Support Revival/Vows Help From Above Mercy Once More Power of God Never Fails Loan (Unsecured) 38,180.40 38.180.40 8,574.50 8,574.50 20.832.87 20.832.87 16,433.00 16.433.00 7.170.00 7.170.00 4,506.00 4.506.00 11,608.00 11,608.00 4.380.40 4,380.40 8,270.30 8,270.30 7,810.00 7,810.00 5.140.33 5.140.33 5.840.60 5.840.60 72,000.00 72.000.00 4,430.00 4,4_30.00 7,620.00 7,620.00 12,360.00 12.360.00 66,206,85 66,206.85 102,600.00 7.050.50 6,224.65 4.350.00 3,870.00 21.462.00 36,940.65 7,430.20 18.328.78 14,330.60 6.750.00 5.360.00 10,080.30 3.980.60 7.420.30 7,140.00 4,460.75 5.029.40 30,350.00 3,620.00 6.150.00 12,360.00 65.051.15 151.800.00 6.285.00 5,419.82 3,321.00 3,650.00 14,620.00 102,600.00 7.050.50 6,224.65 4,350.00 3.870.00 21.462.00 Total Incoming Resources 102 600.00 344 320.40 446 920.40 429 878.55

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  1. Staff Cost and Numbers Staff costs were as follo￿'s. 2023 2022 Salaries and Wagyes National Insurance Employers N.I. 204.000.00 180,000.00 7,695.55 1,680.25 Total emoluments paid to staff w'ere: 211695.55
  2. 25 No emplo)ree carned more than #60,000 during the year. The average weekly number of employees, full time equivalent during the year was as t"ollows: 2023 No 14 06 09 2022 Full Time Part -l.ime Volunteers 12 06 04
  3. Taxation As a charity, Christ Apostolic Church New Testament Assembly is exempt from tax on income and gains within section 505 of the Taxes Act 1988 or s256 of the Taxation ot" Chargeable Gains 1992 to the extent that these are applicd to its charitable objects. No tax charges have ariscn in the charity.

  4. Creditors Unsecured Loan from members Bounce Back Loan Total 21.462.00 19.090.87 40,552.87 The payment is below threshold. so no deduction were made for National Insurance

  5. Tangible Fixed Assets Furniture & Fittings 2023 Total Building Equipmcnts Van At l January 2023 Additions in Year Disposals in Year 15,297.99 7,280.00 220.00 220.25 400.00 15,518.24 7.680.00 220.00 At 31 December 2023 22.357.99 620.25 22.978.24 DEPRECIATION At l January 2023 Within the year Destroys within the year Di%p().sals in the year 250.00 250.00 Al 31 December 2023 250.00 250.00 NET BOOK VALUE At 31 December 2022 At 31 December 2023 15,297.99 22 107.99 220.25 620.25 15,518.24 22 728.24 All tangible fixed assets are used for direct charitable purposes.

  6. Analysis of Net Assets between Funds: 2023 2022 Tangible Fixed Assets 22,728.24 15,518.24 Current Assets (Cash at hand) Unsecured Loan 2.040.30 (46,790.00) 1,973.05 (36,980.84) Net Assets as at 31 December 2023 -22 021.46 -19 489.55 10