CHRIST EXHIBITION MINISTRY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2ND FEBRUARY, 2025
CHARITY NUMBER: 1145395
Trustees’ Report
The Trustees present their report together with the financial statements of the charity for the year ended 2 February 2025. The report has been prepared in accordance with the Charities Act 2011 and the Charities SORP (FRS 102).
Objectives and Activities
The charity’s purpose is to advance the Christian faith through worship services, pastoral care, community outreach, and charitable giving.
Public Benefit Statement
The Trustees confirm that they have complied with their duty to have regard to the Charity Commission’s guidance on public benefit.
Financial Review
The charity recorded total income of £23,433.36 (2024: £32,953.32) and total expenditure of £38,965.38 (2024: £25,736.28), resulting in a net deficit of £13,532.02 for the year.
The deficit was primarily due to increased pastoral support costs and reduced giving.
Statement of Financial Activities (SOFA)
(Equivalent to Income & Expenditure Statement)
Income 2024 (£) 2025 (£) Tithes & Offerings 32,953.32 19,053.36 Other Income – 4,380.00 Total Income 32,953.32 23,433.36 Expenditure – Charitable Activities 2024 (£) 2025 (£) Pastoral Support 5,700.00 19,350.00 Donations 2,900.00 3,927.54 Hall Hire & Events 1,382.00 380.00 Church Hall – Cyprus Community 3,825.00 4,380.00 Instrumentalist 2,800.00 4,680.00 Depreciation 1,339.24 1,202.40 Other Charitable Costs 4,519.50 3,663.50 Total Charitable Expenditure 24,265.74 36,203.44 Other Expenditure 2024 (£) 2025 (£) Bank Charges 107.38 111.94 Equipment & Instruments 1,363.16 650.00 Total Other Expenditure 1,470.54 761.94
| Net Surplus / (Deficit) | 7,217.28 | (13,532.02) |
Balance Sheet
As at 2 February 2025
Fixed Assets £ Equipment & Instruments – Opening NBV 5,356.98 Additions 650.00 Less: Depreciation (1,201.40) Closing NBV 4,805.58 Current Assets £ Bank Balance (Overdrawn) (6,314.74) Member Loan – A 1,500.00 Member Loan – B 800.00 Total Current Assets (4,014.74)
| Net Assets / (Liabilities) | £791.84 |
Funds £ Accumulated Fund B/F 7,217.28 Deficit for the Year (13,532.02) Add: Fixed Assets NBV 4,805.58 Add: Member Loans 2,300.00 Closing Fund Balance 791.84
The financial statements were approved by the Trustees on: [20[th] January, 2025]
Signed on behalf of the Board: [Joyce Abena Amponsah Agyapong] Trustee
Notes to the Financial Statements
1. Accounting Policies
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Accounts prepared on a receipts and payments basis with adjustments for fixed assets and depreciation.
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Depreciation charged at 20% straight-line on equipment and instruments.
2. Pastoral Support Costs
Pastor Amount (£) Pastor Tony 13,900.00 Pastor Gabri 2,250.00 Pastor Lydia 3,200.00 Total 19,350.00
3. Depreciation
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Opening NBV: £5,356.98
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Additions: £650.00
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Depreciation: £1,201.40
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Closing NBV: £4,805.58
4. Donations Made
Total charitable donations during the year: £3,927.54
5. Tithes & Offerings
Income reduced from £32,953.32 (2024) to £19,053.36 (2025).
6. Member Loans
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Member A(Paa Yaw): £1,500
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Member B(Drumer): £800 Both remain outstanding at year-end.