## **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** 

- Accounts prepared on a receipts and payments basis with adjustments for fixed assets and depreciation. 

- 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** 

- Opening NBV: £5,356.98 

- Additions: £650.00 

- Depreciation: £1,201.40 

- 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** 

- Member A(Paa Yaw): £1,500 

- Member B(Drumer): £800 Both remain outstanding at year-end.