**REGISTERED CHARITY NUMBER: 1116726**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 FOR VPA CHURCH**
**VPA CHURCH**
## **ORGANISATION INFORMATION**
## **BOARD OF TRUSTEES**
VICTORIA OLUFUNMILOLA IREOLUWA MARY ETUAJIE OJOBO AISHA OSIGWE VIDA OYE OSEI REUBEN IZEKOR LENA O'NEILL DR TAIWO DUROJAIYE LORRAINE CHINYANGANYA
## **REGISTERED ADDRESS**
## **CHARITY REG. NUMBER**
## **ACCOUNTANTS**
## **BANKERS**
11-12 OLD BOND STREET MAYFAIR, LONDON W1S 4PN 1116726 EA WINFUL & ASSOCIATES CHARTERED CERTIFIED ACCOUNTANTS 18 HERO WALK ROCHESTER KENT ME1 2UZ
## BARCLAYS BANK
PAGE 1
**VPA CHURCH**
## **REPORT OF THE TRUSTEES/MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31 MARCH 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charitable company is governed by a memorandum and articles of association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and errors.
The trustees confirm that considerations have been given to the major risks to which the charity is exposed and that systems have been designed and established to mitigate these risks.
## **OBJECTIVES ANDS ACTIVITIES**
The objectives of the charitable company are:
1. The propagation of the gospel of Jesus Christ
2. The relief of poverty
3. Education
The Trustees have given careful consideration to the Charity Commission general guidance on public benefit
## **ACTIVITIES DURING THE YEAR**
The Church continued its programme of reaching more people for God. The normal activities of Sunday and weekday services continued. Church services on Sundays were filled to capacity. Friday services continued to be very popular with packed attendances where deliverance sessions were held. These sessions targeted at deliverance from spiritual bondage, financial difficulties, employment issues, marital difficulties, among many other issues. The testimonies of church attendees are available for all to hear. We are encouraged by the testimonies of members who have experienced touch of our great God.
As part of our public responsibility, counselling sessions on Mondays continued, where the head pastor offered one to one spiritual counselling . Members in need are offered encourangement and other support
The Church continued to be immense assistance to members in diverse financial needs. Members were assisted with welfare assistance, travelling expenses, accommodation assistance, among others. The church continued to hold men's and women's meetings to foster good marital understanding and relationships.
The church conducted several marriage ceremonies that soon resulted in christening of babies. The church provided strong support to members and their families in time of bereavement. The church supported members at the sad times of funerals. Members were prayed for at such times and encouraged with the word of God. Sickness and ailments are part of life. On occasions when members or their families are hospitalised, prayers of deliverance were freely offered and anointing with oil made. These go to complement the medical advice of trained surgeons and medical practitioners.
The church provides transport services for members who live further away from the church. There was bus services from the following areas: South London, Hackney, Barking and Stratford to mention a few. The bus services are patronised by members who do not have their own transport means to attend church. .
All the activities of the church are available to Christians and Non Christians, members and non members. There is no restriction on who can attend our church services or programmes or who benefits from our services.
PAGE 2
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievement during the year**
The Church continue to be blessed with visits of many renowned men of God, for crusades. These crusades attracted many worshippers from other parts of the UK and Europe.
## **Evangelism**
The church continued to its evangelistic mission by using Facebook transmission to reach a wider audience in the UK, Europe, and Africa and across the world. The word of God was brought to the homes of many people. The church also prepared and distributed freely its own daily bible reading and prayer guide.
## **Auditorium**
The Church is still looking for a permanent place to worship following the loss of its Banking plase of worship For the time while worship shall continue in its Cineworld temporary place and tursting God to make a way
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees acknowledge that it will require about £60,000 for one month's operation without any income. While the general reserve is more than the safety level, it is not matched by available liquid funds. This deficiency is being addressed by Trustees who by strategic planning want to hit the level of secured funds in the next 5 years by setting up a reserve funds account with the bank.
## **Operational income and expenditure**
For the year under review, the Trustees consider the church made a financial loss due to the following expenses.
1. Housing Assets write off to zero resulting from the loss of its Barking road building to Barking & Dagenham Council
2. Legal fees to persue the recovery of its Church biulding and office facilities lost to Barking and Dagenham Council 3. Spend on charitable activities to ensure outreach of the word of God to more members Total offerings and donations received by the charity during the year was up to **£800,152** (2024 £851,688) Total operating cost was **£718,792** (2024 £935,963). Net Surplus was **£81,360** against a Loss of £84,275 in 2024 Trustees are most grateful to the members and the public who continued to give to the work of God carried on at the church.
Gift aid funds receivable during the year was **£154,828**
## **Volunteer services**
The Trustees would like to mention the work of several volunteers whose contribution immensely contributed to the work at the church. The volunteers were ushers, choristers, traffic warden, security personnel, and receptionists among many others.
The charity benefitted from these services provided free of charge. There was an average of 15 volunteers serving for an average of 5 hours per week over the year. The approximate financial value, estimated at the national minimum wage, over the year was £45,435, This has not been reflected on the SOFA. The trustees extended a big thank you to all such volunteers.
## **FUTURE DEVELOPMENTS**
The church growth strategy is by establishing branches outside London. This policy will be pursued in a manner as not to burden the existing congregation.
Renowned international preachers will continue to be invited to the church. The Trustees hope their visits will inspire values and strenghten the Christian faith
Trustees plan to continue using modern means of communication to reach more people, TV transmission via Yube and Facebook will continue to be used to broadcast into more faith
PAGE 3
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees (who are also the directors of VPA Chuch for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which 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 that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
> prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD OF TRUSTEES:**
## **Victoria O Ireoluwa**
Victoria O Ireoluwa - Trustee
VICTORIA OLUFUNMILOLA IREOLUWA
PAGE 4
**VPA CHURCH**
## **INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS TO THE TRUSTEES/MEMBERS OF VPA CHURCH**
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEE AND EXAMINER**
As the charity's trustees you are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1003 Act) and that an independent examination is needed. It is my responsibility to:
examine the accounts under section 43 of the 1992 Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, and
to state whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER'S STATEMENT**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **INDEPENDENT EXAMINER'S STATEMENT**
In connection with my examination, the loss of premises has disrupted the charity's ability of keeing records which has given me some reasonable cause to believe that in, some material respect, the requirements: 1. to keep accounting records in accordance with section 41 of the 1993 Act; and 2. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act has been fully met.
## **EA Winful**
**EA WINFUL & ASSOCIATES CHARTERED CERTIFIED ACCOUNTANTS 18 HERO WALK ROCHESTER, KENT ME1 2UZ**
PAGE 5
**VPA CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025**
## **INCOME AND EXPENDITURE**
|**INCOMING RESOURCES**
**Note**
Voluntary income
2
Gift aid receipts
2
**Total Income Resources**
**RESOURCES EXPENDED**
Costs of generating voluntary income
**Charitable activities**
Church establishment
4
Governance costs
5
**Total Resources Expended**
**NET INCOMING RESOURCES**
**RECONCILIATION OF FUNDS**
Funds brought forward 31/03/2024
**Funds carried forward 31/03/25**|**Unrestricted**
645,324
154,828
800,152
(649,192)
(69,600)||**Restricted**
**TOTAL**
**TOTAL**
**2025**
**2024**
-
645,324
695,458
-
154,828
156,230
-
**800,152**
**851,688**
-
-
-
(649,192)
(865,143)
(69,600)
(70,820)
**(718,792)**
**(935,963)**
**81,360**
**(84,275)**
11,642
95,917
**93,002**
**11,642**|**Restricted**
**TOTAL**
**TOTAL**
**2025**
**2024**
-
645,324
695,458
-
154,828
156,230
-
**800,152**
**851,688**
-
-
-
(649,192)
(865,143)
(69,600)
(70,820)
**(718,792)**
**(935,963)**
**81,360**
**(84,275)**
11,642
95,917
**93,002**
**11,642**|**TOTAL**|
|---|---|---|---|---|---|
||||-
-
-|||
|||||**800,152**
**851,688**||
||||-|-
-
(649,192)
(865,143)
(69,600)
(70,820)||
|||||**(718,792)**
**(935,963)**||
|||||**81,360**
**(84,275)**
11,642
95,917||
|||||**93,002**
**11,642**||
PAGE 6
**VPA CHURCH**
## **BALANCE SHEET AS AT 31ST MARCH 2025**
|**FIXED ASSETS**
Tangible Assets
**CURRENT ASSETS**
Debtors/Prepayments
Bank/Cash
**CREDITORS:**
Amount falling due within one year
Net Current Asset/(Liabilities)
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS:**
Amount falling due for more than one year
**NET ASSETS**
**FUNDS**
Unrestricted Funds
Restricted Funds|**Notes**
11
12
13
14
15||**2025**
**39,934**
48,106
7,313
**55,419**
**(2,351)**
**53,068**
**93,002**
-|**2024**
**24,604**
61,436
3,215
**64,651**
**(77,613)**
**(12,962)**|**2024**
**24,604**|
|---|---|---|---|---|---|
|||||**11,642**
-||
||||**93,002**|**11,642**||
||||93,002|11,642||
||||**93,002**|**11,642**||
For the year ended 31st March 2023 the company is entitled to exemption from audit under section 477(2) of the companies Act 2006.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for:
1) Ensuring the company keeps accounting records which comply with section 386; and
11) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its financial year surplus in accordance with section 393, and which otherwise comply with the requirement of the Companies Act relating to accounts, so far as applicable to the company.
Approved by the Board of Trustees on 18th Dec 2025 and signed on its behalf by:
## **Victoria O Ireoluwa**
Victoria O Ireoluwa - Trustee
PAGE 7
**VPA CHURCH**
## **1 ACCOUNTING POLICIES**
## 1.1 **Accounting Convention**
The financial statements have been prepared under the historical cost convention,
and in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities
## 1.2 **Exemption from preparing a cash flow statement**
Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.
## 1.3 **Incoming Resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## 1.4 **Resources expended**
Expenditure is accounted for on accrual basis and has been classified under headings that aggregate all cost related to the category. Where cost cannot be directly attributed to particular heading they have been allocated to activities on the basis consistent with the use of resources.
## 1.5
## **Allocation and apportionment of cost**
All costs are allocated between expenditure categories of the Statement of Financial Activities on the basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
## 1.6 **Tangible Fixed Assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Improvement to property|10%|
|---|---|
|Fixtures & fittings|10%|
|Motor vehicle|10%|
## 1.7 **Taxation**
The Charity is exempt from corporation tax on its charitable activities
1.8 **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objective of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## 1.9 **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
PAGE 8
**VPA CHURCH**
Notes to the Accounts for the year ended 31st March 2025
|2
**VOLUNTARY INCOME**
Tithes & Offering
**TOTAL**
3
**OTHER INCOME**
Gift Aid Receipts
4
**CHARITABLE ACTIVITIES COSTS**
Insurance
Light end heat
Building refuse collections and repairs
Depreciation/write off housing assets remaning life to zero
Fixtures and fittings
Rent and rates
Premises cleaning
Evangelism and mission
Books,Tapes & Printing
Wages
Welfare
Travelling and motor expemses
Office expenses
Security
Telephone
Advertising
Volunteer expenses
loan interest & repayment
5
**GOVERNANCE COSTS**
Accountancy & Review
Legal fees
6
**NET INCOMING/(OUTGOING) RESOURCES**
**Net resources are stated after (charging) / Crediting :**
Bank charges & Interest charges|**2025**
2024
**£**
**£**
645,324
695,458|
|---|---|
||**645,324**
695,458|
||**2025**
2024
**154,828**
156,230
(5,760)
(5,760)
(9,987)
(7,259)
(1,820)
(5,820)
(4,710)
(487,075)
(8,105)
(8,702)
(186,900)
(128,900)
(11,066)
(17,060)
(295,439)
(77,430)
(6,175)
(6,970)
(34,984)
(34,984)
(35,935)
(37,337)
(9,870)
(9,520)
(7,145)
(8,340)
(2,942)
(5,942)
(11,950)
(10,945)
(10,580)
(7,580)
(4,576)
(4,270)
-
-|
||**(647,944)**
(863,894)|
||**2025**
2023
(24,000)
(30,500)
(45,600)
(40,320)|
||**(69,600)**
(70,820)|
||**2025**
2024
**£**
£
(1,248)
(1,249)|
PAGE 9
## **TRUSTEES REMUNERATION AND BENEFITS**
There were no trustees remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024
## **Trustees expenses**
There were no trustees expenses paid for the year ended 31 March 2025 and for the year ended 31 march 2024
PAGE 10
**VPA CHURCH**
|10
**STAFF COSTS**
Wages and Salaries
Social security costs
**11**
**TANGIBLE FIXED ASSETS**
**FIXED ASSETS**
Cost at 1st April 2024
Additions
**Cost at 1st March 2025**
Depreciation at 1st April 2024
Charge of the year
**Depreciation at 31st March 2025**
**NET BOOK VALUE**
**At 31st March 2025**
**At 31st March 2024**
**12**
**DEBTORS: AMOUNTS DUE WITHIN ONE YEAR**
Debtors/Prepayments
**13**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors|**2025**
**2024**
**£**
**£**
(31,034)
(31,034)
(3,950)
(3,950)
**(34,984)**
**(34,984)**
**2025**
**Equipment**
**Fixtures &**
**Building**
**Fittings**
**Total**
-
24,604
**24,604**
-
22,500
22,500|**2025**
**2024**
**£**
**£**
(31,034)
(31,034)
(3,950)
(3,950)|
|---|---|---|
|||**(34,984)**
**(34,984)**|
||**-**|**47,104**
**47,104**|
||-
-|2,460
**2,460**
4,710
**4,710**|
||**-**|**7,170**
**7,170**|
||**-**|**39,934**
**39,934**|
||**-**|**24,604**
**24,604**|
|||48,106
61,436|
|||**48,106**
**61,436**|
|||**2025**
**2024**
**£**
**£**
(2,351)
(77,613)
-
-|
|||**(2,351)**
**(77,613)**|
PAGE 11
**15 MOVEMENT IN FUNDS**
|**UNRESTRICTED FUNDS**
General funds
**TOTAL FUNDS**|**2024**
Movement
**2025**
**£**
**£**
11,642
81,360
93,002|
|---|---|
||**11,642**
**81,360**
**93,002**|
Net movement in funds included in the above are as follows:
|**UNRESTRICTED FUNDS**
General funds|Incoming
Resources
Movement in
resources
expended
funds
**£**
**£**
**£**
800,152
(718,792)
81,360|
|---|---|
||**800,152**
**(718,792)**
**81,360**|
PAGE 12
**Detailed Statement of Financial Activities For the year Ended 31 March 2025**
|**INCOMING RESOURCES**
Tithes & Offering
Other Incoming Resources
Gift Aid receipts
**Total incoming resources**
**RESOURCES EXPENDED**
**Cost of generating voluntary income**
Wages
Rent & Rates
Insurance
Heat and light
Telephone & Internet
TV programme and publicity
Security
Maintenance and repairs
Depreciation/write off housing assets remaning life to zero
Fixtures and fittings
Music & Media
Evangelism & Mission
Books,Tapes & Printing
Charity & Welfare expenses
Motor & Travel expenses
Admin expenses
Volunteer Expenses
Bank charges
Accountancy & other Professional services
Legal fees
**Total resources expended**
**Net Income**|**2025**
2024
**£**
**£**
645,324
695,458
**-**
**-**|
|---|---|
||**645,324**
695,458
154,828
156,230|
||**800,152**
851,688
(34,984)
(34,984)
(186,900)
(128,900)
(5,760)
(5,760)
(9,987)
(7,259)
(11,950)
(10,945)
(10,580)
(7,580)
(2,942)
(5,942)
(1,820)
(5,820)
(4,710)
(487,075)
(8,105)
(8,702)
(11,066)
(17,060)
(295,439)
(77,430)
(6,175)
(6,970)
(35,935)
(37,337)
(9,870)
(9,520)
(7,145)
(8,340)
(4,576)
(4,270)
(1,248)
(1,249)
(24,000)
(30,500)
(45,600)
(40,320)|
||**(718,792)**
(935,963)
**81,360**
(84,275)|
PAGE 13