CHRIST APOSTOLIC CHURCH 4EIV TEST.I.)IE)T ,I55E.)IBLV (CACNTA) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Christ Apostolic Church New Testament Assembly Legal and Administrative Details For the year ended 31 December 2024 Status The organization is a re?istered Charity. Charity Number 1115710 Registered Office Third Floor. 28 - 30 Victoria StreeL Luton Bedfordshire LUI 2UA Management Board Pastor S.0. OIuv*asola Pastor E. A Adeosun Elder A.S.P. Adeusi Dcn O.S. Opoola Dcn A.E. Jonathan Dcn A.M. Adekanlc Mr A.H. Oluvtrasola Trustee Trusiee Trustee Trustee Trustee Trustec Trustee Bankers BarclaN's Bank PIC 63 George Street Luton Beds LUI 2AP Christ Apostolic Church New Testament Assemblv Report of the Management Board For the vear ended 31 December 2024 Mcinbcrs of the Management Board. iiho ar¢ also the trustees under the charilN' laii.. present the Financial Stateinents t-or ihe l'ear ended 31 December ?0?4. Responsibility of the Management Board Chariii. laii. requires the Management board as Truslees lo prepare financial staiements for each Iinancial l'ear iihich gil'e a Irue and fair i'ieii. of the state of the affairs of the chariti, as al Ihe balancc shcet date and of its incoming resources and applicalion of resources includin? income and expenditure f.or the l'ear ended. In preparing ihose financial siaiemenis Iihich oii'e a true and fair N"ieii'. the Mana?emcnt Board hould folloii. the besi practice and: sclcct suitablc accounting policies and then appl!. Ihem consislentli, mc2ke.judoments and estimates that are reasonablc and prudent tale iihether applicable accounlino standards hai-e bccn folloii-ed. subject to ani. material departiircs disclosed and Lxplained in ihe tinancial staieinents prepare the tinancial siatements on the going concern basis unless it is inappropriS and signed on its behalf by:_ Pastor S. O. Oluwasola Chainnan Elder A.S. Trustee Adeusi Date.. Christ Apostolic Church New Testament Assembl). B21ance sheet as at 31 December 2024 2024 2023 Current Assets Cash at Bank and in Iland Cash at hand Projecl { Secured) 1.9iO.40 2.040.30 Creditors Unsecured Loan 38.480.00 46.790.00 Total Income 461.640.80 446.9?0.40 Total Expenditure 460.460.10 44i.460.3i Total Balance 36 529.60 44 749.70 Christ Apostolic Church New Testament Assembly Statement of Financial Activities (Including Income and Expenditure Account) For the year ended 31 December 2024 l. Incoming Resources 2024 Toial 2023 l-otal Restricted UnreslriLied Donations and Grants D O CoN"enant (Tithc) Luton O Ci)I'cnant (Tiihe) Milton Ke!"nes D O Cowcnant (Tiihe) Northampion D O CoN'enant ("l-iihe) Sandii cll D O Coi'enanl ("l-iihe) Bedford D O Covenant (Tithe) Southampton Ot"t-ering and "I"hanks2ii"ino Luton Offerin2 and Thanks2ii'in2 Milton Kei nes Oflcring and Thanksgii ing Northampton ot"fering and Thanksoji:ing Sandii ell Offering and Thank-s2iN:in? Bcdford Offering and Thanks?ii'ing Southampton Building Fund CJift from oiher Charilies Personal (iitis, Donaiions C'hurLh Aiinii'LrsariLS Gift Aid Repai ment Mission Support Rei'ii al;'Voii s HLlp From Aboi'c Merci. OnLe More Poli er of God Nei"er Fails Loan (Unsecuredl 38.6iO.60 7.4?7.?? 19.860.00 l i 940.00 7.440.00 4.1 i0.00 10.480.00 j.?80.00 9.010.00 8.160.00 630.40 4.87_5.UU 78.000.00 3.140.00 8.1 ?0.00 li.610.00 78.j?6.48 38.6f0.60 38.180.40 7.4?7.2? 8.?74.iO 19.860.00 ?0.83?.87 l i 940.00 16.433.00 7.440.00 7.170.00 4.1 70.00 4.i06.00 10.480.00 11.608.00 j..?80.00 4.380.40 9.010.00 8.?70.30 8.160.00 7.810.00 i.6iO.40 5.140.33 4.87i.00 i.840.60 78.000.00 7?.000.00 3.140.00 4.4JO.00 8.1 ?0.00 7.620.00 l i.610.00 1 ?.360.00 78.-j?6.48 66.206.8.i 98.800.00 10?.600.00 8.7iO.iO 7.OiO.iO i.730.i0 6.??4.6i 4.080.00 4.JiO.00 3.180.00 3.870.00 20.800.00 21.46?.00 98.800.00 8.7iO.iO i.730.iO 4.080.00 3.180.00 ?0.800.00 Total Incoming Resources 98 800.00 362 840.80 461640.80 446 920.40 Chrisl Apo4tolic Church New Testament Assembly tatcment of Financial Activities (Includin% I ncome F.xpcnditurc AL'count) For the.year ended 311)ecembcr 2024 2. F.xpcnditure Ba*•iS of Lulon Milton Kcvncs Northumpton Sandwell ljedford Southampton 21124 Allocation Ilranch Ilranch Ilranch Ilranch Ilranch Ilranch 'I'otal C.'()¥t.% dirL'L'tI)' #lloL'ute t() aclivities: 202.1 I'otal Vi%ili nbi C'ILrby C'li¢iril¢iblL I)i)iiatii)n IILnt %tdti(InLriL' l)irLLt 2.951).1)0 2.5111.0() 3.-3()().()(1 2,1811.111) 2.47().96 16.4().3.{)4 16.1){)(l.()O l)irL'LI .58().l)o ()1 0.00 78().00 540.00 41(1.()o 4.350.00 4.420.00 l)irLLI 21 ,110().1)0 4.-341).()() 5,05().()0 2.4()().1111 2.491).0() 4().481).()() 42.1)(111.()() l)irLLI ,85.6.110 28().111) .47().(10 .()X5.()() 1,25().0() 7.()8(1.()O 8.1175.()0 l)irL¢l 5.78U.UO .3,110.()i) .150,()0 1.081).00 1.3,98().00 15.270.110 Annii'Lr%ariL4 I)irLLI 2.871).1)o 1.8711.1)0 6.411I.(10 5.1.3().110 /,()nal ('i)nlrihulion t)irLLt 2.8111).1() ,37().1)o 7..510.30 8.7.31)..50 I,c)an IILpayniLnt l)irLLt 21.500.00 21,500.00 15.000.00 Mi5sic)nary ALliviiy I)irLLt 19,0110.()0 10,420.1)0 12,980.00 12,20().00 9,640.()0 6,271).()() 70,51 ().()0 89,8()l).()5 3.-3()11.()o 4.3().1111 5.141).(i(I 1.140.110 2.%()O.()l) 1.()7(1.1)() 12().1)1) 2,14(Tr.()i) iupport costs dircctly allocatc lo actii'itic$: raii%p()ri¢ili()ns AIIc)W¢illLes 1,250.00 1,050,0() Siall"'I'iniL 125.011().00 15.865.50 915.00 1,120.00 1.120.00 2,3()5.0() 350.00 380.00 6.455.()0 7.175.00 37.000.00 5.000.00 15.800.00 9.600.25 2_30.400.25 204.000.00 15.865.50 9,695.55 4.695.00 4.250.00 I,,niplc)yL'rs N. l. l)rinlingJ & l)oslabie Services 820.00. )10.00 420.00 510.00 r.Icclricity 14. '1". M()bilc l)honL'% Ilank C'harg7L"S Loan IntL'rLsl In%uriillcL G¢'nL'ral I'.XPL'Ii%L. Scrvices SLrviLe.s L'rviLes ran%aLlions l-ransaLti()ns SLrviLLs LrviLe 2.580.50 2.580.50 2.350.50 650.20 650.20 730.70 915.40 2.928.11 3.514.23 402.16 713.40 6(1.3.27 463.00 463.00 135.00 1.630.10 2.960.00 4.590.00 4.1 ()0.60 6C)(Tr.I)o 435.40 479.71) 218.1)0 280.00 192.70 2,295.80 2,61)0.00 229,777.16 22,266.15 74,-$67.15 .18,1)69.00 14,92(1.75 24,65.1.91 4611,461I.111 44S.4611..15 560.75 546.21 311.24 480.00 425.75 3. Staff Cost and INumbers Stat"f cosis li ere as lolloii s: 2024 2023 Sdl(Iries and Il'ages National Insurance Emplol'ers N.l. ?46.?6j.7j ?04.000.00 l i.86i.iO 7.69i.i5 Total emoluments paid to staff M"ere: 262 131.2) 21169*.jj No emplol'cc earned more than #60.000 during the i ear. The ai'erage iieekli. number ot" emploi'ees full time equii"aleni durin? the ! ear il'as as folloii's: 2024 2023 Full Time Pan Time VoluntLcrs 16 04 10 14 06 09 i? 06 04 4. Taxation As a chariti". Christ Apostolic Church Neil. Teslament Assembl!" is cxcmpt from tax on income and gains M ithin section ioi ol. the Taxes Aci 1988 or s? 76 of ihc Taiation of Char?eable Cjains 199? to the exlent ihat these are applied io its chariiable objects. No tax char?es hai'e arisen in the charilN. 5. Creditors Ilnsccured l.oan from members Bounce Back Loan -loial ?0.800.00 13.460.90 j4.160.90 The pal'ment is belom. threshold. so no deduction ￿ere made for Naiional Insurance 6. Tangible Fixed Assets Furniture & F ittinos 20?4 Total Building Equipments Van COST At l Januarn" 2024 Additions in Year Disposals in Ycar ??.3 j7.99 6.i80.00 i80.00 6?0.? j 400.00 2?.978.?4 6.980.00 ?50.00 At 31 December ?0?4 ?8.J j7.99 ?8.j78.?4 DEPRECIATION At l Januarn. ?0?4 Within the l'ear Deslroi's ii'ithin the i-car Dispo%als in the N ear ?80.00 ?80.00 At 31 December ?0?4 ?80.00 280.00 NET BOOK VALUE At 31 Decembcr ?0?3 Al 31 DeLember ?0?4 2? 107.99 ?8.077.99 6?0.?) ??O.?j ?? 7?8 ?4 ?8.j78.?4 All iangible fixed assLts are used f.or direct charilable purposes. 7. Analysis of Net Assets between Funds- ?0?4 ?023 Tangible Fixed Assets ?8.j78.?4 ?? 7?8 ?4 Current Assels (Cash at hand) Unsecured Loan 1.9iO.40 {38.480.00) ? 040.30 (46.790.00) Net Assets as at 31 December ?0?4 -7 951.36 -22 021.46 10