CHRlS'f APOSTOLIC CHURCH REDEMPI'ION CHRIS'I'IAN CEI+4TRE 52 MEADWAY ENFIELD MIDDLESEX EIY3 6NX CHARITY REG 1129511 FINANCIAL ,STATEIIrfENTS FOR THF. YF.AR ENDED 31ST MARCH 2025
CHRIS'I, APOSTOLIC CHURCH REI DEMPI'ION CHRISTIAN CENTRE FOR THE YEAR ENDED 31ST MARCH 2025 LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES: Mrs Ogunsanya Olufunso (Chair) Revercnd Olufemi Sanni Mi. Jidemola Yisa Omolayo Mi. Opeyeini Olawale Famurewa Deaconess (Ms) Junnette James SECRETARY: Ms Bolakale Gl-ace Olatunji CHARITY NUMBEIR,. 1129511 BANKF.RS: METRO BANIC PLC I SOUTHAAMPTON ROW WCIB SHA LONDON ACCOUNTANTS: DANIEL FAMOK & ASSOCIATES ACCOUNTANTS & FtNANCIAL CONSULTANTS UNIT 209, SECOND FLOOR TUDORLEAF BUStNESS CENTRE, 2-8 FOUNTA YNE ROAD, LONDON N15 4QL CONTENT: I. TRUSTEES, REPORT 2. STATEMENT OF FtNANCtAL ACTtvtTIES 3. BALANCE SHEET 4. NOTES TO THE ACCOUNTS
CHIUST APOS'foLIC CHURCH REDEMP'fioN CHRISTIAN CENTRE TRUSTEES, REI PORT The Tiust¢¢5 hav¢ pleasure in submitting theii. report and a¢Unts foi. the yeai. ended 3 1st March 2025 Th¢ financial statements have been PlEpai'ed in accordance with the accounting policies set out on i)ageE 5 to 9 and comply wit]) the Statement of Reeoniincnd¢d Pi'actice (SORP 2015) and the applicable law. Coiistitution ob ective5 and oui. work The chai'ity is constitutcd undei. a Constitution adopted 1st January 2008 and is a registered Chai'ity numbei. 1129511 The objcctivcs of the Charity as set out in the Constitution are.. {a) T]ie advanccmcnt of thc Clii'islian faith and Ib) Tlie rclief of persons wlio are in cundilio115 of haTdship or distress or who are aged, sick or di%abled. (c) The promotioii of fulfilment of such othei. ch81'itable puryioses bcneficial to the commiinity. The Tiust was involved in Chri%tian outreach programmes designed to inei'ease Christian awaiciicss and.8picad the gospel of our Loi'd Jegus Chi'ist. i-inci al activities of the ¢h*ri to ether witli or anisatioii of Develo ent activities and achievements In the ear Tl)e Ti'u.%tee8 21e pleased lo iepoit that the Church continued to be successful spii'itually by ministei'ing to many people. The church has improved in Inembei'ship sti'ength ai)d is increasingly reacliing out to t]ie cointnunity. Risk Polic The Ti"ustees have ass¢sscd the majoi. I'isks to which the T]st is exposed paiticularly those relating to the operations and financc and are satisfied with the i'isk management system$ in plac¢ to mitigat¢ tli¢ risk cxposure to the Charity. Review of tlie fiiiancial osition Tlie net incoming iesouices for the yeai. amount¢d to a dcficit of £14,815 (Yeai. 2024 was a sury)lus of £17,296) and all of wliich arc set against the unresti'icted i'eserves of tl)e ¢hai'ity. Board of 'l'i'ustees Tlie Ineinbcrs of t])e board of trllskes who serv¢d during tl)c financial yeai. were .' Mrs Oglinsanya O]uns0 {Chaii') Reverend Olufemi Sanni Mi. Opeyemi Olawale Famui'ewa Mi" Ademola Yisa Omolayo Deaconess (Ms) Junnette James roval Tliis rcport was giv¢ its behalf by'.- I'ov the board of tt'ustees on tile 30d) Janu81y 2026 and signed on Secretary Ms Bolakale Grace Olatunji
INDEPLNDENT EI XAMINER'S REPORT I'O THE TRUSI'EES OF CHRIST APOSTOLIC CHUIICH REDII MPTION CHRISTIAN CENTRE CHARITY Tr4UMBER 1129511 FOR'I'HE YEAR ENI)LD 31ST MARCH 2025 I IEpoit on the Financial Stateinents of the Ti'ust foi. the yeai. ended 31 st Mai'ch 2025. which are set out on pages 3 to 9 below. Rf.SPECTIVE RLSPONSIBILII'IES ofi TRUSTEES AND XAMINER The eliarity's trust¢es aiE respon%il?Ic foi. the pi'eparalion of the accounts. The chai'ity'q ts"ust¢es consider that an audit 15 not I'cquii'ed foi" this yeai. undei. section 43 (2) of the Cl)ai'ities Act 2011 (The 2011 Act) and that an indep¢ndcnt examination is needed. It is my responsibility to examine the accounts undei. section 43 of the 2011 Aet, follow tlie pi'occdui'es laid down in the geneial Dir¢ctions given by the Chai'ity ComEni55ion [ undei. section 43{71(b) ] of the 2011 Act, and * state whethci. pai'ticulai. mallcrs have come to my attention. BASIS of< INDF.PENDENT EXAMINERIS STATEMENT My exaiiiination wa8 cai'i'ied out in aceordance with tl)e get]eral DiiECtions given by the Chai'ity Commission. An examination includes a I'eview of Ihc accounting iecords Icept by the Twst and a conipai'ison of thc accounts pi'esejited with those i'eeurds. It also includes coiisideration of any unusual items or disclosuiT in the accounts, and seeking exi)laDations from the trustces concei'ning any such mattels. The proccduiES undeil8ken do not pi'ovide all the cvidence ihat would be requii'ed in an audit and consequently no opinion is givcn as to wlietliei. tl)e accounts present a'liuc and faie view and tl)e report is limited to Ih05e niatteiE set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT It) coniiution with my examination, 110 matlei. has come to my attentio l} which gives me rcasonable cause to b¢lieve that in, any material respect, th¢ rcquirements.. * lo keep accounting records in accoi'dance witl) scction 41 of the 2011 Act. and * to pi'eparc accounts whicl) accoi'd with the 8¢¢ounting recoi'ds and comply accounting requirements of the 2011 A¢t havc not been mel. or 2) to ic n, atten be i'eaclied. uld be drawn in ordcr to enable a pi'oper undcrstanding MRD.A. AfNI DANIEL FAMOK & ASSOCIATES ACCOUNTANTS & FINANCIAL COONSULTANTS UNIT 209 (SECOND FLOOR), TUDORLEAF BUSINESS CENTRE 2-8 FOUNTAYNE ROAD. LONDON - NI 5 4QL 30th January 2026
CHRIST APOSTOLIC CHURCH RFDEMPTION CHRISTIAN CEN'I'RE STATEI MENT OF FINANCIAI. ACTIVITIES FOR THEI YEI AR ENDED 31S'I' MARCH 2025 Notts Uthrtstrifted Restricted Funds Funds Total 2025 Total 2024 INCOMINC. RC4 SOURCES liieoniing Resouicesfi'oiii geneiaÉedfuiids Voluntary In¢oine HMRC Gift Aid tax Irclai1Th8 liicopiiiiig Resoiipc¢3fpopJi Cliapilable Acliijilies OtlieF' IiicoFPiiP?g Resoui ces 24,819 12,060 24,819 12,060 26,077 2,508 6,377 6,377 19,940 Tot411i)eomlng Resoui'ces 43,255 43,255 RESOURCES EXPENDED Chui'ilable AcliviÉi£ 55,109 55,109 30,404 Govei'nance cosls 2,960 2,960 825 Total resources e%pended 58,069 58,069 31,229 IYET MOVLI MF,NT IN FUNDS (14.815) (14,815) 17,296 RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward 4,712 (10,103) 5,127 5,127 9,839 (7,459) (4,976) 9,839 Tlici¢ were no ieeognised gaÉns or los%es for tl)e year oihcr than thosc included in the Stateinent of Financial Activities. All incoming resources attd resources expended deriv¢ from continuing activities. The notes on Pages 5 to 9 form pai't of these aeeounts.
CHRIST APOSTOLIC CHURCH REDEMPTION CHIUSTIAN CENTRE BALANCE SHEET AS AT 31ST MARCH 2025 Notes 2025 2024 IXED ASSETS Tangible Fixed Assets 36,649 38,165 CURRENT ASSETS Sundiy Debtois Cash at Bank and in Hand 4,045 1,888 1,045 18,672 5,933 19,717 LESS CREDITORS: Amounts falling due within one year 700 887 IYET CURRENT ASSLTS 13 5,233 18,830 CREDITORS:_ (Amounts falling diie after more than one yeai.) (46,857) {47,157) TOTAL ASSETS LESS LIABILJTIES REPRESENTED BY: 2025 2024 Resti'icted Funds Uni'estricted Funds A2 5,127 (10,103) (4,976) 5,127 4,712 9,839 io Approved by the Board of Trustee5 011 the 30th January 2026 and 5iglled on its behalf by . Mi's Ogunsanya ufunso (Chair)
CHRIST APOSTOI,IC CHURCH REDEMPTION CHRISTIAN CEN'I'IiE NO'rLs 'ro i'HE FIINANCIAL STATEMENTS FOR THE YEAR NDII D 31ST MARCH 2025 I. ACCOUNTING POLICIES Thc financial slalements have bccn prcpaicd in accordance with the accounting policies set out in notes to Ilie accounts and coniply willi Ilie charity's ¥oveniinB docurnent, Ilie Cliai'ities Act 2011 and Accounting and Repoi'iiiig by Cliarilies.. Sialemeiit ofReeointnended Practice {SORPI applicable to cliarities piepaiing Ilicir accounts in accoiylaiice willi tlie Fjnartcial Reporling SlandaTd dpi)licdble iii the UK aiid R¢i)ubli of Ireland published on 16th July 2014. 1.1 Incoming Resources Volunta Income Income fi'om tithes and offei'ings collected are included in volunlaiy incoming resouttes whe these al'e ¢¢Ivabl¢. Other Income Thcse cai?ii)I'ises othei. miseellaneous income and accounted for in the pei'iod in which it is entitled. Glft Aid Tax Rc mcnt Claim Tax repayments due from HM Revenue & Customs in respect of memberg, giving are included in incoming iesources and restricted for building funds when received. Cash flow statement Tlic Charity lias lakeii advantage of Il)e exemption in financial R¢porting Standai.d No I fron] th¢ requirements to produce a cashflow statement on the grounds that it qualifies as a small chai'ity. 1.2 Resources ex ended Rcsour¢es expended are included in the Statement of Financial Activilics on acctual bases, inclusive of any Value Added Tax (VAT) whicli cannot be recovei'ed. Certain expenditure are attributable to spe¢ifie activities and have been in¢luded in thosc eost catcgori¢s.
CHRIST APOSTOLIC CHURCH RF.DEMPTION CHRtSTIAN CEI NTR NOTES TO'I'HE Tr'INANCIAL S'I'ATEI MEI NTS CONTINUED FOR THE YEAR NDED 31ST MARCH 2025 1.3 Tangible Fixed Assets foi. use by the ehai'ity and Depreeiation Tangibl¢ fix¢d asset5 foi. usc by th¢ Chai'ity are stated at cost less depreciation. Depreciation is calculated to wi'ite off the cost less estimated i'esidual value of fixed assets, over theii. estimated useful lives on the following basis: Equipment and Instum¢nts 250/¢ per annum. 2. CHARITABLE ACTIVITIES 2025 2024 Pastoral Allowances Evangclism & Overseas Missions Volunteers, Publicity & Media Honoraria and gifts Rent and Service Charges Donations and Chai'itable Activities Membei's, Welfai'e & Supports Pi'inting, Postagc and Stationery Utilities, Electricity and Heating Financial Charges, Commission and Fees Travelling & Motor Expenses Insui'ance Premiums Internet and Web costs Hospitality, Refreshment & Events Security, Health and Cleaning Equipment Repaii. & Renewals Depi-ccialion of fixcd asscts Telephone & fax 6,582 7,198 4,535 960 8,059 12,744 3,733 299 207 105 2,494 182 1,911 7,192 1,903 445 2,531 50 3,345 323 2,516 3,349 183 637 2,480 420 289 2,021 809 30,404 362 3,130 241 584 1,516 2,180 55,109 3. GOVERNANCE COSTS 2025 2024 Legal and Professional fees Accountsncy and Independent examinations 2,460 500 2,960 325 500 825
CHRIST APOSTOLIC CHURCH DEMPTION CHRISTIAN NTRC NOTEIS TO THE IIINANCIAL SI'ATEMEI NTS CONI'INULI D FOR THE YEAR ENDED 31ST MARCH 2025 4. NE'f MOVEMENT IN FUNDS FOR THE YFAR 2025 2024 The net movement in funds foi. the year is stated aftei. chai'ging.. DepiEciation of tangibl¢ fix¢d a55els- foi. use by tl)e cliai'ity Accountancy & Independent Examinei s Fees 1,516 500 2,535 500 5. TRUSTEES, REMUNERATION No Tivslee has had expenses reimbui'sed in the year. There is no staff w1105c cinoluments exceeded £60,000 during the yeai. 6. TANGIBLE FIXED ASSETS MISSION'S E UIPMENT TOTAL 2025 TOTAL 2024 LANDS & DEV & FIrriNGS Cost .. As at 1st Api'il 2024 Additions during the yeai. A5 at 3 1st March 2025 32101 63,112 62,631 481 63,112 32,101 63,112 Depreciation: AS at 1st April 2024 Chai'ged foi. the year As at 3 1st March 2025 24,947 1,516 26,463 24,947 1,516 26,463 22,926 2.021 24,947 Net Book Value At 31st March 2025 r4et Book Value At 31st Mai'ch 2024 32,101 6,064 38,165 39,705 7. DEIITORS.. AMOUNT FALLING DUE WITHIN ONE YEAR 2025 2024 Sundry Debtors 4,045 1045
CHRIST APOSTOLIC CHURCH REDEMPTION CHIUSTIAN CENTRE NOTfi,S TO THF. FINANCIAI. STATEI MEI NTS C.ONTINUEI D FOR THE YEAR ENDEI D 31ST MARCH 2025 CREDITORS: AMOUNT FALLING DUE WITHtN OIYE YEAR 2025 2024 Othcr Ci'cditors Acctuals 200 500 700 20(1 687 f187 9.CRLDITORS: Amounts fallin due be ond one ear 2025 2024 UK Business Bounce B2ck (BBL) Loans 46,857 47,157 The BBL loan is the British guaranteed loans gi'anted through UIC banks to support businesses affected by the hain]ful effects of the Covid-19 pandemic. The BBL loans are i"epayable over 60 months at 2.50/0 pei. annum (witli intei'est acci'ual and loan repayments waived during the first twelve months). The Charity's BBL cui.rent status qye behind scliedule and not fully perfoLThing in accoi"dance with its oi"iginal i"epayment plAn. 10. RELATED PARTY TRANSACTIONS Tlie Charity has a very close iElationship with Pastor Yisa Olufemi Sanni, who is the father of Mrs Roseline Abimbola Sanni-Ajose (a pi'ioi- yeai. tiustee). Pastoi. Yisa Sanni is the Minister-in-chai'ge of the Chui'ch and has i'eceived the sutn of £4,931.60 as ministerial allowance dui'ing the year ended 3 1st March 2025. Pastor Yisa Sanni is on full time seivice to the church and his rninisterial allowancc was paid at an arm's lengtli tL'ansactions and covcrs his local tt'avclliiig, telephone expenses and dry cleaning of special robes t'equii-ed for the position. 11. UIYRESTRICTED FUNDS OF THE CHAIIITY Unrestrlcted TotAI 2024 Balance as at 1st Api'il 2024 Movement in the ndS for the yeai. Balance as at 3 1st March 2025 4,712 (14,815) 10,103 {12,5841 17,296 4,712
CHRIST APOSTOLIC CHURCH RF,DF.MPTION CHRISTIAN CENTRE NOTEIS TO THf. FINANCIAL S'I'ATEMEITr4TS CONTINULD FOR THE YEAR LNDED 31ST MARCH 2025 12. RESTRICTED FUNDS rvlissions Funds Total 2025 Balance as at I st April 2024 Movement in the funds for the year Balance as at 31 st March 2025 5,127 5,127 5,127 5,127 13. ANALYSIS OF NET ASSETS BF.TWEEN FUNDS Unre5ti'icted Resti'lcted Funds Funds Total 2025 Tangible fixed assets Net C'rent Assets 36,649 5.127 41,776 5,233