Charity registration number: 1123909
CATHEDRAL INTERNATIONAL -ASSEMBLY OF GOD TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
UY Accountants Ltd
Cathedral International -Assembly of God Contents
| Page | |
|---|---|
| Trustees' Report | 1—8 |
| Independent Auditor's Report | 9—11 |
| Statement of Financial Activities | 12 |
| Statement of Financial Position | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Statement of Cash Flows | 15 |
| Notes to the Financial Statements | 16—22 |
Cathedral International -Assembly of God Trustees' Report For The Year Ended 31 December 2024
The trustees present their report and the financial statements for the year ended 31 December 2024.
Objectives and Activities
Aims and Objectives
1.1 Aims and Objectives
Our charitable purpose is the advancement of the Christian faith for the public benefit through worship, discipleship, education, pastoral care, and community engagement. In fulfillment of this divine mandate, the charity works to alleviate hardship, promote health and well-being, and provide comprehensive opportunities for spiritual, moral, and social development.
Following a significant period of ministerial expansion in 2023, which saw the establishment of new campuses in various cities and nations, 2024 was strategically dedicated to consolidation, strengthening, and sustainable development of these local communities. The core focus was to ensure that the growth achieved in previous years was matched by a solid foundation of governance, pastoral care, and spiritual depth.
Short-term Aims: Consolidate the branches planted during the 2023 expansion, structure newly leased places of worship, strengthen local small group structures, and engage local attendees in active discipleship tracks.
Long-term Aims: To develop sustainable local church communities that advance the Christian faith through worship, discipleship, pastoral care, and community engagement, while providing ongoing opportunities for spiritual, moral, and social development and delivering public benefit within the communities they serve.
1.2 Strategies for Achieving Objectives
To fulfill the purpose of proclaiming the Word of God and consolidating ministry growth, the Trustees' strategy in 2024 rested on three main pillars:
Strategic Alignment and Pastoral Visits: Execution of pastoral visits to oversee local leaders, strengthen relationships across international campuses, and maintain structural unity.
Infrastructure Optimisation: Meticulous maintenance and renovation of leased buildings to provide safe, fully compliant, and welcoming environments for public worship.
Leadership and Discipleship Development: Continuous training for small group leaders, volunteers, and ministry teams to enhance pastoral care and biblical teaching quality.
1.3 Criteria and Measures of Success
The Trustees assess the success and impact of the charity's activities using the following quantitative and qualitative indicators:
Financial stabilization and attendance consolidation across the campuses established in 2023. Active participation and graduation rates of members in biblical, theological, and leadership training programs. The reach and community impact of localized social actions and mass evangelism initiatives.
1.4 Significant Activities and Resource Scale
In 2024, the Charity directed its financial and operational resources toward physical consolidation and sanctuary maintenance. As reflected in the financial statements, support costs for facilities (premises expenses) totaled £1,029,119 (2023: £820,182), reflecting direct investments in improving our leased places of worship. Capital was primarily deployed across three major infrastructure projects:
Campus North London: Officially relocated to its new leased temple on 3 August 2024, following a comprehensive renovation.
Main Church (South London): Completed critical preventive maintenance and upgrades encompassing electrical services, air conditioning maintenance, fire alarm system modernization, health and safety compliances, and car park maintenance.
Campus Goole: Executed extensive property renovation and maintenance to support and scale the local community.
Property Note: Except for ongoing construction at missionary outposts in Piauí and Bahia (Brazil), the church does not own permanent properties and operates strictly under operating lease agreements.
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Aims and Objectives - continued
1.5 Grant-Making Policy
The charity does not operate a formal grant-making programme. Discretionary, low-level emergency financial aid to alleviate extreme vulnerability among church members is reviewed on an individual basis by the local pastoral team as a practical extension of Christian care.
1.6 Contribution of Volunteers
Volunteers are at the heart of Cathedral International's ministry and community outreach. During 2024, the Charity benefited from the dedicated service of approximately 500–550 active volunteers across the main church and its various campuses. Through their commitment, time, and skills, these individuals contributed thousands of hours in key areas including welcoming and hospitality, Cathedral Kids, small group leadership, media and sound production, worship ministry, community outreach, and facilities support.
The contribution of volunteers significantly enhanced the Charity's ability to deliver its spiritual, pastoral, and community programmes, extending the reach and impact of its mission while fostering a culture of service, discipleship, and community engagement throughout the organisation.
1.7 Public Benefit
The Trustees confirm that they have complied with their duty under Section 17 of the Charities Act 2011 and have had due regard to the Charity Commission’s guidance on public benefit. All worship services, children's educational programs, youth conferences, small group meetings, and social action initiatives are open to the general public regardless of background, promoting moral development, social cohesion, spiritual well-being, and community support.
Achievements and Performance
Main Achievements
2.1 Main Achievements and Progress Against Objectives: The year 2024 yielded significant fruits aligned directly with our core mission of proclaiming the Gospel and building stable communities:
Small Groups Ministry & Leadership Development: The church heavily invested in strengthening its Small Groups network as the primary vehicle for pastoral care, biblical teaching, and member integration. Regular training and alignment sessions were conducted for Small Group Leaders, Leaders-in-Training, and host families.
Spiritual Retreats (Impacto & Face a Face 2024) — Family Retreats and Community Strengthening Programmes: As part of Cathedral International's charitable objective of advancing the Christian faith and promoting the well-being of individuals, families, and communities, the charity regularly organises spiritual retreats and discipleship conferences designed to strengthen faith, encourage personal growth, and foster healthy family relationships. In 2024, two major national spiritual encounters were successfully executed: Impacto 2024 (gathering approximately 140 participants with the support of 27 volunteers) and Face a Face 2024 (hosting approximately 100 participants and 20 volunteers).
The Board of Trustees recognises that the demands of modern life, professional pressures, excessive digital exposure, social isolation, economic hardships, and the growing fragility of domestic relationships generate significant negative impacts on the emotional and relational health of adults, youth, and children alike. In response to this reality, the charity develops intentional, safe environments where families can invest quality time in one another, completely removed from daily anxieties and distractions.
The primary purpose of these retreats is to promote family integration, fortify parent-child bonds, encourage healthy marital relationships, and foster open dialogue, reconciliation, cooperation, and mutual support. Through structured lectures, specialised workshops, practical team-building activities, and communal living, the charity addressed vital themes for human and social development, including family communication, emotional health, conflict resolution, parental education, servant leadership, social responsibility, citizenship, mental well-being, and the cultivation of wholesome relationships.
These programmes reflect the firm conviction that strong families build strong communities. By reinforcing households, the charity directly contributes to preventing social issues such as domestic tension, social exclusion, emotional neglect, youth delinquency, and other localized communal challenges. The public benefit extends beyond individual participants, enhancing overall school performance among youth, fostering domestic stability, and cultivating a community-wide culture of respect, corporate responsibility, and mutual care. These activities form an important part of the charity's ongoing mission to advance the Christian faith and demonstrate its practical application in everyday life through discipleship, pastoral care, family support, and community engagement.
Children's Ministry (Cathedral Kids) & The Kids Hub Framework: The Children’s Ministry significantly expanded its spiritual, educational, and social support frameworks, reinforcing its commitment to the holistic development of children and family empowerment. In September 2024, the Board of Trustees issued formal approval to advance strategic negotiations aimed at securing a long-term commercial lease agreement for a dedicated facility to serve as the official Cathedral Kids Hub.
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Main Achievements - continued
The project is structurally designed to operate as more than a religious space, functioning as a premier reference center for children's educational, athletic, and community programming. Through supervised recreation, character-building exercises, sports, and personal development initiatives, the Hub aims to provide a structured environment to protect the younger generation against contemporary risks such as youth isolation, anti-social behaviour, and vulnerability. The project also prioritizes parental engagement, giving fathers and mothers practical avenues to participate actively in their children's growth.
In terms of leadership enhancement, volunteer instructors completed the intensive Go Deeper 2024 training curriculum, elevating institutional standards in biblical teaching, pastoral welfare, safeguarding compliance, and family counseling. Key operational highlights included the annual Summer Week 2024 in July (providing faith-based education, relief, and safe supervision for families during school holidays) and the Hollywins 2024 – Eternity and Beyond event in October (reinforcing positive civic values, empathy, and cooperation through interactive worship). These preventive initiatives provide measurable public benefit by complementing the social development goals shared by local educational institutions and public authorities.
Campus Porto (Portugal): Demonstrated continued growth and community development, reaching over 350 active members and approximately 20 structured small groups. Operating out of a leased facility with a 320-person capacity, the campus mobilized 85 volunteers to sustain weekly services and leadership tracks. Socially, they hosted community events providing free psychological counseling, financial advice, haircuts, and sports programs, alongside regular street ministry distributing food, clothing, and water to the vulnerable.
Campus Tsukuba (Japan): In April 2024, the international campus in Japan received a strategic pastoral visit from the London headquarters during a graduation and ministerial communion ceremony. The event drew roughly 95 participants, including local leaders, members, and community visitors, strengthening global alignment, providing spiritual encouragement, reinforcing community engagement, and fostering regional unity.
Juventude ALIVE (Youth Ministry): Maintained an active discipleship programme through monthly youth services, small groups, and prayer vigils dedicated to intercession for the city of London and the nations. In April, ALIVE hosted a major international youth camp in Wales, gathering approximately 270 young people from the UK, continental Europe, and South America. In September, its annual themed conference addressed contemporary challenges relating to identity, responsibility, personal development, and Christian influence in society.
2.2 Positive and Negative Impact Factors
Positive Factors (Internal Control): The extraordinary dedication of our expanded base of volunteers and the financial faithfulness of the congregation through tithes and offerings enabled the church to execute intensive facility renovations without compromising institutional liquidity.
Negative Factors (External Control): Persistent inflation across the UK and Europe increased property maintenance costs and supplies. Geographical distance and distinct legal frameworks across international campuses (e.g., Japan and Portugal) demanded increased logistical focus and pastoral travel to maintain governance standards.
2.3 Fundraising Approach and Compliance Disclosure (CA '11 s162A)
Approach: Funding is derived almost entirely from voluntary tithes and offerings given by church members during regular services. The charity did not utilize professional fundraisers or commercial participator agreements in 2024. Regulation & Complaints: Fundraising practices follow Charity Commission best practices. The church recorded zero (0) complaints regarding its fundraising activities in 2024.
Protection of Vulnerable People: All giving is entirely voluntary and centered within a faith context. The church strictly prohibits any approach that applies undue pressure, persistent solicitation, or intrusion of privacy, particularly toward vulnerable individuals.
Financial Review
Financial Position
3.1 Financial Position and Performance Review
The 2024 financial statements confirm the success of the fiscal stabilization strategy adopted by the Trustees following the previous year's expansion deficit:
Total Income: Reached £3,139,362 (2023: £2,349,289), a robust 33.6% increase driven by growing congregational giving.
Total Expenditure: Managed at £3,097,532 (2023: £2,788,304), reflecting tight control over operational costs while absorbing significant facility renovations. ...CONTINUED
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Financial Position - continued
Net Movement: The Charity successfully reversed the 2023 deficit of £(439,015), concluding 2024 with a net financial surplus of £41,830.
Fund Balances: Total funds increased to £149,881, comprising £134,365 in general unrestricted funds and £15,516 in restricted funds held for specific designated projects.
Net Current Assets: Current assets closed at £164,594 against current liabilities of £73,295, yielding a positive working capital of £91,299.
3.2 Principal Funding Sources
The primary funding source remains voluntary donations and legacies, totaling £3,137,953 (over 99.9% of total income). These resources directly support key objectives by funding pastoral staff payroll, covering youth/children ministries, and financing the extensive lease and property upkeep budgets across campuses.
3.3 Reserves Policy and Status Disclosure
The Trustees' established policy aims to maintain free unrestricted reserves (excluding those tied up in fixed assets) equivalent to up to three months of core operational expenditure to buffer against short-term cash flow fluctuations. On 31 December 2024, free unrestricted funds stood at £134,365. While this marks a clear recovery from 2023, it remains below the ideal target due to the substantial funds deployed into essential renovations for leased properties in North London, Goole, and South London (£188,850 combined). The Trustees continue to execute their financial stabilization plan to systematically rebuild these reserves through rigorous overhead management.
3.4 Investment Policy
The charity maintains a conservative, zero-risk investment approach, holding no stocks, bonds, or commercial properties. Unutilized capital is kept within immediate-access bank operating and savings accounts to guarantee total liquidity for campus requirements. Bank interest received in 2024 totaled £1,409.
3.5 Principal Risks and Uncertainties
The Board of Trustees actively monitors institutional risk:
Leasehold Liquidity Risk: Since the church operates via leased infrastructure rather than freehold ownership, it holds a consolidated future operational lease commitment of £626,667 (with £132,917 due within 12 months). This risk is managed via weekly cash flow reviews and priority budgeting for lease provisions.
Safeguarding Compliance Risk: Serving hundreds of minors weekly across Cathedral Kids, small groups, and youth events, the church mitigates compliance risks through rigorous Disclosure and Barring Service (DBS) checks, international background screenings, and mandatory safety training.
3.6 Going Concern Assessment
The Trustees have reviewed the Charity’s financial position, current asset levels, and cash flow projections for a period of at least twelve months from the date of approval of this report. After careful consideration of the 33.6% increase in income during 2024, the positive working capital position of £91,299, and the ongoing financial stabilisation plan, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its ministry, charitable activities, and operational functions for the foreseeable future. Accordingly, the Trustees consider it appropriate to adopt the going concern basis in the preparation of the financial statements.
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Future Developments
4.1 Future Strategy and Perspective of the Trustees
The Trustees' strategic focus for the upcoming period is centred on strengthening financial stability and enhancing the spiritual development, discipleship, and pastoral support of existing members and congregations. Following a period of significant expansion, priority will be given to consolidating current ministries, strengthening local leadership, and ensuring the long-term sustainability of the Charity’s activities and community impact.
Key strategic plans include:
Cathedral Kids Expansion & Property Lease: Commit focused attention to the growth of the children's ministry, specifically advancing contractual negotiations to secure a long-term commercial lease for a dedicated building to serve as the official "Cathedral Kids Hub" headquarters, providing customized infrastructure for the younger generation.
Campus Consolidation & Edification: Maintain the stabilization framework for all campuses planted during 2023 (including Goole, Porto, Madrid, and regional UK branches), steering them toward operational and financial self-sufficiency to secure long-term Gospel impact.
Mid-Week Worship Engagement: Develop focused strategies to encourage the congregation and new visitors to actively attend mid-week worship services, held every Thursday at 8:00 PM, embedding a culture of consistent worship and prayer.
Discipleship, Baptism, and the Kairos Course: Leadership identified a vital mission gap: many regular service attendees have not yet entered formalized discipleship or baptism tracks. The plan aims to actively draw these individuals into Baptism and Discipleship courses. Additionally, the church will heavily promote enrollment in the Kairos Course, held every Monday, designed to provide foundational Christian principles grounded in basic systematic theology.
Structure, Governance and Management
Governing Document
5.1 Constitution and Governing Document
Cathedral International – Assembly of God is a registered charity with the Charity Commission for England and Wales (Charity Number 1123909). The charity is governed by its Trust Deed, which establishes the advancement of the Christian faith, together with associated charitable activities for the public benefit, as its principal charitable purpose. The charity is administered by its Board of Trustees in accordance with its governing document and applicable charity law.
5.2 Trustee Recruitment, Induction, and Appointment
The strategic governance and legal responsibility of the Charity rest with the Board of Trustees. Recruitment & Appointment: New Trustees are identified by the existing board based on professional competencies (e.g., finance, legal, administration, or theological leadership) and spiritual integrity. They are formally appointed via majority vote and resolution at board meetings, in accordance with constitutional by laws.
Induction & Training: Upon appointment, new Trustees undergo an induction process, receiving previous financial statements, internal risk management policies, and the Charity Commission’s foundational CC3 guidance (The Essential Trustee).
5.3 Organisational Structure and Decision Making
The Board of Trustees meets regularly to oversee high-level governance, approve material expenditures, authorize longterm commercial property leases, and review statutory compliance.
Day-to-day spiritual, ministerial, and operational leadership (including the management of the ALIVE youth, Kids ministries, Small Groups, and local campuses) is fully delegated to the Senior Pastoral Team and Local Campus Pastors. Multi-year financial liabilities and major capital structural commitments remain under the exclusive approval of the Board of Trustees.
5.4 Key Management Personnel and Remuneration Policy
The key management personnel of the Charity comprise the Trustees who also fulfil active, full-time pastoral and executive leadership roles in the delivery of the Charity’s ministry and operations.
Four Trustees were remunerated during 2024, as expressly permitted by the Charity’s governing document for ministers and leaders who devote substantial time to the work of the Charity. The total remuneration and pension contributions paid to the trustees during the year ended 31 December 2024 were as follows (as noted in the Note 17 of the these financial statements):
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Governing Document - continued
Mr Jackson Antonio (Senior Executive/Pastoral Leadership) – Remuneration: £83,652 | Pension: £2,202 | Total 2024: £85,854 (2023: £105,164)
Mr Adilson De Freitas (Pastoral Leadership) – Remuneration: £64,885 | Pension: Nil | Total 2024: £64,885 (2023: £86,237)
Miss Adriana Antonio (Operational Support/Ministry Leadership) – Remuneration: £56,096 | Pension: £2,202 | Total 2024: £58,298 (2023: £53,282)
Mr Sori Balde (Pastoral/Operational Support) – Remuneration: £19,176 | Pension: Nil | Total 2024: £19,176 (2023: £18,116)
Remuneration Setting: The setting, evaluation, and review of remuneration packages and pension contributions for key management personnel are undertaken exclusively by those Trustees who are not beneficiaries of the remuneration being considered. Remunerated Trustees are excluded from discussions, deliberations, and decisions relating to their own remuneration. In determining appropriate levels, the Board considers the responsibilities, time commitment, and comparable positions within faith-based charities of similar size.
According to Note 9 of the audited financial statements, 2 employees received employee benefits (excluding employer pension costs) exceeding £60,000 during the period, falling within the following bands:
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£60,000 to £69,999: 1 employee
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£80,000 to £89,999: 1 employee
5.5 Network and Related Party Disclosures
The Charity operates in fellowship with the wider Assemblies of God network, cooperating on shared ministry objectives while remaining legally, financially, and operationally independent.
In accordance with the regulatory disclosure requirements of the Charities SORP (FRS 102), the Board reports the following related party transactions that occurred during the 2024 financial year:
Mr Juan Carlos Morocho Bolanos: Serves as a Missionary and local Campus Pastor for the institution in Spain. In 2024, he received £12,000 annually as missionary support. This benefit is granted exclusively to cover living and welfare costs while maintaining the missionary outpost in Spain.
Mrs Mariana Renata Souza De Freitas: Is employed as a Pastor Coordinator for Cathedral International. She is the spouse of Trustee and Executive Pastor Mr Adilson De Freitas, thereby qualifying as a related party transaction. In 2024, she received a gross annual salary of £20,686 for her operational duties. This salary reflects standard market rates for the responsibilities undertaken and was approved by the independent members of the board.
Mrs Rossana Bohamara Mendes Monteiro Silva: Serves as a Trustee of the charity. In 2024, she received £600.00 annually as a benevolent support gift. This disbursement was issued strictly for welfare and personal care purposes under the charity's compassion directives and does not constitute executive salary or governance fees.
Ms Eunice De Carvalho (Mrs Eunice Inoue Branco De Carvalho): Serves as a Trustee of the charity. In 2024, she received £4,830 annually as a benevolent support gift. This disbursement was issued strictly for welfare and personal support purposes in compliance with the church's internal assistance policies and does not constitute executive salary or governance fees.
Conflict of Interest Management: Strict governance safeguards were implemented for all above transactions. Trustee Mr Adilson De Freitas abstained from all board discussions, evaluations, and voting procedures concerning his wife's employment terms, salary level, and operational duties. Similarly, Trustees Mrs Rossana Bohamara and Ms Eunice De Carvalho were entirely excluded from any board approvals or deliberations regarding their respective benevolent care gifts. Except for the transactions disclosed in sections 5.4 and 5.5, no other related party transactions, loans, or outstanding balances existed during 2024.
5.7 Delegated Senior Management Personnel:
Senior Pastors Jackson Antonio and Adriana Antonio oversee day-to-day spiritual and campus management operations.
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Reference and Administrative Details
Trustees
Mr Jackson Antonio Mr Adilson De Freitas Mr Sori Balde Miss Adriana Antonio Mr Juan Bolanos Mr Hugo Cordeiro Ms Eunice De Carvalho Mr Luis Sanchez Mrs Rossana Bohamara Monteiro e Silva
Charity Number
1123909
Principal Address
Rear of 42-44 Norwood High Street London SE27 9NR
Auditors
UY Accountants Ltd 78 York Street London W1H 1DP
Bankers
Barclays Bank East Dulwich Branch
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Cathedral International -Assembly of God Trustees' Report (continued) For The Year Ended 31 December 2024
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure Statement to Auditors
So far as the trustees are aware, there is no relevant audit information of which the charity’s auditor is unaware. The trustees 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 charity’s auditor is aware of that information.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr Jackson Antonio Trustee 09/07/2026
Mr Adilson De Freitas Trustee
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Independent Auditor's Report to the Members of Cathedral International -Assembly of God
Opinion
We have audited the financial statements of Cathedral International -Assembly of God (the "charity") for the year ended 31 December 2024 which comprise the Statement of Financial Activities (including Income and Expenditure Account), Statement of Financial Position, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011.
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 charity 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 charity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on Which We Are Required to Report by Exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records or returns; or we have not received all the information and explanations we require for our audit.
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Independent Auditor's Report (continued) to the Members of Cathedral International -Assembly of God
Responsibilities of Trustees
As explained more fully in the Trustees' Responsibilities Statement set out on page 1—8, the trustees 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 includes 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 our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and posting inappropriate journal entries to manipulate the fair value of the charity's assets.
Our tests included agreeing the financial statement disclosures to underlying supporting documentation where relevant, review of Trustees' meeting minutes, enquiries with management as to the risks of non-compliance and any instances thereof, challenging assumptions and judgments made by management, and identifying and testing journal entries, in particular any journal entries posted with unusual account combinations. Our audit procedures also focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities (Accounts and Reports) Regulations 2008.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less like we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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Independent Auditor's Report (continued) to the Members of Cathedral International -Assembly of God
Use Of Our Report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters that 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Statutory Auditor
09/07/2026
UY Accountants Ltd 78 York Street London W1H 1DP
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Cathedral International -Assembly of God Statement of Financial Activities For The Year Ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Investments 4 EXPENDITURE ON: Raising funds 6 NET INCOME/(EXPENDITURE) NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 16 |
Unrestricted funds £ 3,121,678 1,401 |
Restricted funds £ 16,275 8 |
2024 Total funds £ 3,137,953 1,409 |
2023 Unrestricted funds £ 2,348,092 1,197 |
|---|---|---|---|---|
| 3,123,079 | 16,283 | 3,139,362 | 2,349,289 | |
| (3,096,765) | (767) | (3,097,532) | (2,788,304) | |
| 26,314 | 15,516 | 41,830 | (439,015) | |
| 26,314 108,051 |
15,516 - |
41,830 108,051 |
(439,015) 547,066 |
|
| 134,365 | 15,516 | 149,881 | 108,051 |
The notes on pages 15 to 22 form part of these financial statements.
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Cathedral International -Assembly of God Statement of Financial Position As At 31 December 2024
| Notes FIXED ASSETS Tangible Assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 13 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Restricted Funds Unrestricted Funds TOTAL FUNDS 16 On behalf of the board Mr Jackson Antonio Trustee Mr Adilson Trustee 09/07/2026 |
Unrestricted funds £ 58,582 |
Restricted funds £ - |
2024 Total funds £ 58,582 |
2023 Total funds £ 12,262 |
|---|---|---|---|---|
| 58,582 34,418 130,176 |
- - - |
58,582 34,418 130,176 |
12,262 34,418 161,807 |
|
| 164,594 (73,295) |
- - |
164,594 (73,295) |
196,225 (100,436) |
|
| 91,299 | - | 91,299 | 95,789 | |
| 149,881 | - | 149,881 | 108,051 | |
| 149,881 | - | 149,881 | 108,051 | |
| De Freitas | 15,516 134,365 |
- 108,051 |
||
| 149,881 | 108,051 | |||
The notes on pages 15 to 22 form part of these financial statements.
Page 13
Cathedral International -Assembly of God Statement of Cash Flows For The Year Ended 31 December 2024
| Notes Cash flows from operating activities Net cash generated from/(used in) operations 1 Net cash generated from/(used in) operating activities Cash flows from investing activities Purchase of tangible assets Interest received Net cash (used in)/generated from investing activities Decrease in cash and cash equivalents Cash and cash equivalents at beginning of year 2 Cash and cash equivalents at end of year 2 |
2024 £ 20,829 20,829 (53,869) 1,409 (52,460) (31,631) 161,807 130,176 |
2023 £ (337,834) |
|---|---|---|
| (337,834) | ||
| (104) 1,197 |
||
| 1,093 | ||
| (336,741) 498,548 |
||
| 161,807 |
Page 14
Cathedral International -Assembly of God Notes to the Statement of Cash Flows For The Year Ended 31 December 2024
1. Reconciliation of income/(expenditure) to cash generated from/(used in) operations
| Net income/(expenditure) Adjustments for: Interest income Depreciation of tangible assets Movements in working capital: Increase in trade and other debtors (Decrease)/increase in trade and other creditors Net cash generated from/(used in) operations |
2024 £ 41,830 (1,409) 7,549 - (27,141) 20,829 |
2023 £ (439,015) (1,197) 8,747 (5,693) 99,324 |
|---|---|---|
| (337,834) |
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
| 2024 £ Cash at bank and in hand 130,176 3. Analysis of changes in net funds As at 1 January 2024 Cash flows £ £ Cash at bank and in hand 161,807 (31,631) |
2023 £ 161,807 |
|---|---|
| As at 31 December 2024 £ 130,176 |
Page 15
Cathedral International -Assembly of God Notes to the Financial Statements For The Year Ended 31 December 2024
1. General Information
Cathedral International -Assembly of God is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1123909. The principal address is Rear of 42-44, Norwood High Street, London, SE27 9NR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
2.2. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern. The Trustees have prepared financial projections for the next 12 months, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts.
2.3. Incoming Resources
Income from donations or grants
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal o'er is made in writing. If a donation or grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Tax reclaims on donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Contractual income and performance related grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Donated goods
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
a) Donated goods for distribution to beneficiaries
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
b) Donated goods for resale
Donated goods for resale are measured at fair value on initial recognition, which is theexpected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.
...CONTINUED
Page 16
Cathedral International -Assembly of God Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
2.3. Incoming Resources - continued
c) Donated goods and services capitalised as Tangible fixed assets
Goods donated for on-going use by a charity in carrying out its activities are recognised as tangible fixed assets with the corresponding gain recognised as income from donations within the SoFA.
Donated services and facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Income from charitable activities
Income from charitable activities is recognised over the period to which the income relates. Concert fees are recognised at the date of the event. Membership fees are recognised over the period of the membership. Rent is recognised over the period to which it relates. Any amounts relating to future periods are deferred.
Investment income
Dividends are included in the Statement of Financial Activities when they are declared at an amount which includes the tax credit recoverable from HM Revenue and Customs.
Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
Other trading income
Other trading income from non-charitable sources is recognised over the period to which it relates, Any relating to future periods is deferred.
Investment gains and losses
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold 12.5% Straight Line Method Plant & Machinery 12.5% Straight Line Method Fixtures & Fittings 12.5% Straight Line Method
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
Page 17
Cathedral International -Assembly of God Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
2.7. Pensions
The charity operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
- Income from Donations and Legacies
| . Income from Donations and Legacies |
|||
|---|---|---|---|
| Donations and gifts Donations and gifts . Investment Income Bank interest receivable Bank interest receivable . Net Income/(Expenditure) he net income/(expenditure) is stated after charging/(crediting): Depreciation of tangible fixed assets - owned |
Unrestricted funds £ 3,121,678 |
Restricted funds £ 16,275 |
2024 Total funds £ 3,137,953 |
| Unrestricted funds £ 2,348,092 |
Restricted funds £ - |
2023 Total funds £ 2,348,092 |
|
| Unrestricted funds £ 1,401 |
Restricted funds £ 8 |
2024 Total funds £ 1,409 |
|
| Unrestricted funds £ 1,197 |
Restricted funds £ - |
2023 Total funds £ 1,197 |
|
| 2024 £ 7,549 |
2023 £ 8,747 |
4. Investment Income
5. Net Income/(Expenditure)
The net income/(expenditure) is stated after charging/(crediting):
Page 18
Cathedral International -Assembly of God Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
6. Analysis of Expenditure
| Activities undertaken directly Support costs (see note 7) £ £ Raising funds 1,092,484 2,005,048 Activities undertaken directly Support costs (see note 7) £ £ Raising funds 1,094,811 1,693,493 7. Support Costs Employee costs Premises expenses General administration Depreciation Employee costs Premises expenses General administration Depreciation 8. Auditor's Remuneration Remuneration received by the charity's auditors and their associates during the year was as follows: 2024 £ Audit Services Audit of the company's financial statements 6,500 |
Activities undertaken directly £ 1,092,484 |
Support costs (see note 7) £ 2,005,048 |
2024 Total £ 3,097,532 |
|---|---|---|---|
| Activities undertaken directly £ 1,094,811 |
Support costs (see note 7) £ 1,693,493 |
2023 Total £ 2,788,304 |
|
| 2024 Raising funds £ 78,357 1,029,119 890,023 7,549 |
|||
| 2,005,048 | |||
| 2023 Raising funds £ 64,093 820,182 800,471 8,747 |
|||
| 1,693,493 | |||
| 2023 £ 5,500 |
Page 19
Cathedral International -Assembly of God Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
9. Staff Costs
| . Staff Costs |
||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
2024 £ 283,257 21,748 4,404 309,409 |
2023 £ 298,349 27,307 1,236 |
| 326,892 |
The number of employees whose employee benefits (excluding employer pension costs) for the reporting period exceeded £60,000 was:
| 60,000 was: | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £60,000 to £69,999 | 1 | - | ||
| £80,000 to £89,999 | 1 | 1 | ||
| £100,000 to £109,999 | - | 1 |
10. Average Number of Employees
Average number of employees during the year was: 14 (2023: 14)
11. Tangible Assets
Land &
Property
| Cost As at 1 January 2024 Additions As at 31 December 2024 Depreciation As at 1 January 2024 Provided during the period As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 2. Debtors Due within one year Other debtors |
Leasehold £ - 22,876 |
Plant & Machinery £ 69,977 25,945 |
Fixtures & Fittings £ 167,048 5,048 |
Total £ 237,025 53,869 |
|---|---|---|---|---|
| 22,876 | 95,922 | 172,096 | 290,894 | |
| - 2,860 |
57,715 4,058 |
167,048 631 |
224,763 7,549 |
|
| 2,860 | 61,773 | 167,679 | 232,312 | |
| 20,016 | 34,149 | 4,417 | 58,582 | |
| - | 12,262 | - | 12,262 | |
| 2024 £ 34,418 |
2023 £ 34,418 |
12. Debtors
Page 20
Cathedral International -Assembly of God Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
13. Creditors: Amounts Falling Due Within One Year
| Trade creditors Other creditors Taxation and social security |
2024 £ 37,812 14,621 20,862 73,295 |
2023 £ 68,084 9,586 22,766 |
|---|---|---|
| 100,436 |
14. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Not later than one year Later than one year and not later than five years Later than five years |
2024 £ 132,917 454,583 39,167 626,667 |
2023 £ 102,500 440,000 146,667 |
|---|---|---|
| 689,167 |
15. Pension Commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
During the year the charge to the statement of financial activities in respect of defined contribution schemes was £4,404 (2023: £1,236).
At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.
16. Movement in Funds
| Unrestricted funds General: General unrestricted fund Restricted funds Restricted Funds Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 January 2024 £ 108,051 - |
Income £ 3,123,079 16,283 |
Expenditure £ (3,096,765) (767) |
As at 31 December 2024 £ 134,365 15,516 |
|---|---|---|---|---|
| 108,051 | 3,139,362 | (3,097,532) | 149,881 | |
| As at 1 January 2023 £ 547,066 |
Income £ 2,349,289 |
Expenditure £ (2,788,304) |
As at 31 December 2023 £ 108,051 |
|
| 547,066 | 2,349,289 | (2,788,304) | 108,051 |
Page 21
Cathedral International -Assembly of God Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
17. Transactions with Trustees
The following trustees have been paid remuneration or have received other benefits from the charity or related entity:
| Name of trustee | **Legal authority ** | Remuneration | Pension | 2024 |
|---|---|---|---|---|
| Contributions | Total | |||
| £ | £ | £ | ||
| Governing | ||||
| Mr Adilson De Freitas | document | 64,885 | - | 64,885 |
| provision | ||||
| Governing | ||||
| Mr Jackson Antonio | document | 83,652 | 2,202 | 85,854 |
| provision | ||||
| Governing | ||||
| Mr Sori Balde | document | 19,176 | - | 19,176 |
| provision | ||||
| Governing | ||||
| Miss Adriana Antonio | document | 56,096 | 2,202 | 58,298 |
| provision |
During the previous year the following trustees have been paid remuneration or have received other benefits from the charity or a related entity:
| Name of trustee | **Legal authority ** | Remuneration | Pension | 2023 |
|---|---|---|---|---|
| Contributions | Total | |||
| £ | £ | £ | ||
| Governing | ||||
| Mr Adilson De Freitas | document | 86,237 | - | 86,237 |
| provision | ||||
| Governing | ||||
| Mr Jackson Antonio | document | 104,507 | 657 | 105,164 |
| provision | ||||
| Governing | ||||
| Mr Sori Balde | document | 18,116 | - | 18,116 |
| provision | ||||
| Governing | ||||
| Miss Adriana Antonio | document | 52,703 | 579 | 53,282 |
| provision |
No trustee expenses have been incurred.
18. Related Party Disclosures
During the reporting period:
Mr Juan Carlos Morocho Bolanos: Serves as a Missionary and local Campus Pastor for the institution in Spain. In 2024, he received £12,000 annually as missionary support. This benefit is granted exclusively to cover living and welfare costs while maintaining the missionary outpost in Spain.
Mrs Mariana Renata Souza De Freitas: Is employed as a Pastor Coordinator for Cathedral International. She is the spouse of Trustee and Executive Pastor Mr Adilson De Freitas, thereby qualifying as a related party transaction. In 2024, she received a gross annual salary of £20,686 (2024: £17,164) for her operational duties. This salary reflects standard market rates for the responsibilities undertaken and was approved by the independent members of the board.
Mrs Rossana Bohamara Mendes Monteiro Silva: Serves as a Trustee of the charity. In 2024, she received £600 (2024: £1,200) annually as a benevolent support gift. This disbursement was issued strictly for welfare and personal care purposes under the charity's compassion directives and does not constitute executive salary or governance fees.
Ms Eunice De Carvalho (Mrs Eunice Inoue Branco De Carvalho): Serves as a Trustee of the charity. In 2024, she received £4,830 annually as a benevolent support gift. This disbursement was issued strictly for welfare and personal support purposes in compliance with the church's internal assistance policies and does not constitute executive salary or governance fees.
Page 22