REGISTERED COMPANY NUMBER.. 01134602 IEnKJand Wala} REGISTERED CHARIJV NUMBb.R: 1150036 aAd Wales) & Sc0673 (S¢otl••d) RF,PORT OF E TRUSTEES AND EEPE HRI Leroy Reid & Co Ch&rtBd Certificd AccountBnts and SlaDJtury Auditors 299 Nonhburough Road Nollry Lonthn SW164TR
DEEPER f.IIRISTIAN LIFE MI THI.. Tr'INAN T ATEMENT OR TIIE YEAR ENDED 31ST DECEMBER 1023 P#Ee Rtrtnaee ANd •dminlitr•tlvt detal Report of the trDitet Report of the Independent ludlto 7 kn 10 SIAttment •fnu&Atlil jetlvlil Sthtement •f IlnAAtll poalilo stst¢mtnt •f flowi Notei lo the illtemtnt of tath nowi 14 Nolei lo the finanelAI Mt•ltmeTht• 15 10 21 Ddulled Df15nwL511 lctlvltlu 22 Ip 23
EEPER f.IIRISTJAY LIFE MINJSTRY REFERENCEAND ADMINI TRATIVE DETAILS OR THE YF.AR ENDED 31ST DF,CEMHF.R 202 TRIISI'Tr:Tr:S T)r W [.' Kumuyi P%tor S P Akowe Mrs l. F A Kumuyi Mts M A Ok¢Nwd {de¢ed 21.2.241 Mrs M M Aksosany4 COMPANY SECRETARY E F A Kumuyi RECvlSTERF.D OFFICF. Tran&fomi&iiDn IlTru 66 81 John's Ilill Clapham Junciion SWII IA RCf.ISTFRkD COMPAPIY NIIMBTr;R 08134602 Illnglthnd gnd Wales) SL040673(Scoilandl LC.ISTERED C_IIARITY NUMBER 150036 INDEPENDENT AIIDITORS Lcniy RLid & Cp ChartL'TL'd LL'rtifiL'd AL¢OUtit8rt1& and Sthtuiory Audii(bTS 299 Northborough Road Nury l.ondon %W16 4'1'R SOI.VLITORS Llivc Flindlc S Norihumherland Squar¢ NL)rth Shi¢lds NI:.3D IQQ BANKEKS CAF Bank Limitcd 25 Kin&K Trlill Av¢ttu¢. Kingg Hill WLSI M*illin¥ KL1 Mf.i¥14JQ National W¢5tmin$tcr ljank PT.C 2& PritLCe55 Rulld Livrrpoul IA IJ'I- Barcl&ys Bank PLC 5th FIDLIT, Corinthian Hou 17 Koad Cn>ydon CRO 2BX HSRL flunk PIL 28 Borough High Str¢¢l LondotL SEI IYB PagB I
DEEPER C.IIKISTIAN LIFE MINISTRY REPORT OF TtIE TRIISTEES FOR THF. VF.AR ENDF.D 31ST T)F.CF.MHLR 2023 Th¢ trustees who Are 4Ls0 dirtorS of ihe charity for ihe pu08¢$ of the Companies Act 2006, pre5enl Iheir repurt with the finaneial $iatemenis ol'ihe chariiy for thc yczr cndcd 31sl r)LLcmbrr 2023. The trustee% hivc adoplcd th¢ pr()visinn5 of Accuunling and RertIng by ChBrities.' Statement of Recotnmended PrAclic¥ &ppliL&ble lth Lhllrities prerIllg Ihtiy A¢colln18 in accordttrjce wilh th¢ I'ittanGi&l Rcporting SINndard appli£abk in the IJK and Republic of ITcland IFRS 1021 elyeclive l January 20191. ORJEC.TIVTr.S AND ACTIVITIP.S Purpobr, Sms, oblecltves ctlvltlti The Purpwe aNd of the th•rlly #r4: RLnLfil th¥ publiL ihrough IhL advancemtnt ofihc ithal¥ Of lh¢ ¢hrislian foith 2. BL'nLfii thc individual through the devciopmenl ot. their potential% in ordcr lo bc Ihc k'sl Ihcy cth be J. ALIIVL Ln8H8Lm&nl with ihc rummunity lor the overall enhan¢emeni tsfthl ¢omrnunity L¥PLricn Our obj¢¢tiv¢J and •ttivitiu •r¢: l. F.'uifillin¥ the Grcal Lommis5i¢Jn given by our Lord and Saviour Jesus 10 every Fk.liLvcrto:. l. l (¥0 into all the world ond lea¢h 411 nation& [lpIL. and ruces the word Trt'fjod, Icll¢thin8 ihw lo obtKJve every joi artd little of ii And mttkiThy di$tyiplr$ vfthktn. 1.2 Pr¢4ching thc word lo cvery ErcaluTe 8nd vÉring tht earth wilh righu58. 2. Rcaching out ty th¢ churchey Rnd IhE unchurchcd penplc ofthe world. 3.To believe1. ittto dt¢PLr llnd iiLhrr ¢xpcri¢nL¥$ with lh¢ l.ord JL'Xll Christ, Ihr(>ush r¢gul&r milling.% Itachin8 nd gclting Irn to bc Hcqu&iThl¢d with the 8raciou4 Mell of hTrty, heAlihy and huppy und pr(>gpKmus bal8nced at 4. Providin8 LX)mmunity LnhnLing aLllVjli¢S by IIKal iDn8t¢8iiiDns. Pmblle benetll Thc Truse% are (>l' IhL Lhariiy Lurnfflis&iun'8 ¥uidLlin15 un publi¥ beThcfit. The work ul. thc Lharily and Ike funds li ruis¢a ar¢ wholly dirttted tnwards furthL'rin¥ ihv reli8inu% 111118 and (bjeciiv¢5 ofih¢ Lhurity. 'fh¢ Twu51¢cs th¢r4fU ufik vi¢w Ihal th¢ Charity ialisti¢% th¢ critcTi4 laid down fTrr m¢¢ling lh¢ public .ner11 %1. C.hari¢•hl¢ Dyniiloll The Charity does not mdk¢ 5i¥nifiL8Tr1 donations lo individuols or trlher iTh5lilutions. The ChHTily do¢4 howEv¢r, lL oihcr t)ccpcr Chri%lian Lite Mini.4lry orynixaliiinx Ihr(>u8houl Ihe worlil. ThE Ch&rily 5uppufib mLmber% who arc in difficulty eiiher financi4lly Trr Providin8 oihcr mcans a8 rcquir¢d. A8sis(anc¢ may k madL io olhcr non4lcepcr life charithhle i)rBani54tiuns frnim lim¢ Iv iimc ai th¢ di$Lr¢livn ofih¢'fruJ1¢¢5. Stym¢ hEreavcd lllmllics in ihe LhurLh 're supwrt&'d lh¢ ycar. LIFE INTERNATIONAI. I"RAINING L Tr;NI'RL IGIIAGADA). IAGOS NIGTr-.RIA 'rhL' Charily i¥ &£fili&ted to the global Charity with headquarterA in LB8nA NigeriB. 'I'hc UK Ii'adL'rship ot'the Chority ix rtyuiNd 10 tttlind rLgiulor irdinin& of ihe worldwde le£denhip of the Church in T.#gUb Nigeria annually. Tn fg¢ililat¢ thi8 rcBular IrRinin8 thc inlirnaliunlll hcadqu£rtcvs ofih¢ Charity 15 buildillg 4 trainin8 ceThtre in La8vs NiBcri&lDI.ICCI. To Ihis i'nd Ihi Eloard of trUYlL'¢S hds Agreed mubilise membejy of thc Chfjrity sn Ihb Uniied Kingdom 10 wnlribut¢ riTrBnGiglly tnwgrds lh¢ rcali7.Ati(kn of thc training lltrc. Voluntrcn T1 ChHrity relies on the uge of Volurtlters to deliver ils objectives Attd the diy to d*y Nnnin8 of thy OT8anisalhJn. Th¢ nlribuli(m rnRde by the vTrhmteers 15 significanl 8lthTru8h w m(bn¢lary v&lue bc plac¢d oft ihc ty1r¢S thal th¢y provid Pg8¢ 2
F THE TRUSTEES ENDE DF. .STRATF,f.IC. REPQRT ArhiEvemtnt Rnd perfornLAnet Lharitihl¢ ¢tivili¢s L(x)kin8 back Mt thL yL'ar undLr r¥vi¥w w¥ llthieved uur llims and ubjeciives. The outcome ofour wodL in the pAsl yellr ha% hctn ethanccd by thc following Thc inlcrnal Controls withill ihc charity were refo¢u%¢d and cnhafjd in thc yrAr. Thc ¢h4rity Updat its manag¢meni softw8r¢. which kn keep in line recent charity guid¢linc¥. ThcTC w9% regulAr training liir thc volunlLer 4u11ng blaff of th¢ chaTlty. Thi% h&$ Irrlw¢ PDSitivety i their dL'IivLry. Acr()%s Ihc natio Ihc Lhdrity ¢Thgagcd wsth the homelcs% cTrmmunity throvgh ¢Girl¢ proKTamm¢s for r¢¢Jing and 8hel&rin8 vf those in mo%i need8. ThtK r¢ projLilS and Lvp¢r&IIun k'iwcLn wmL ofour Rcgian% and Care TlTrmcs in ihcir lo¢liiie%. ThtK were youth ci)nfeTettees in the yeor whiLh bruughi togeiher * div¢rgc number ¢Jf yuuths. WL hf Id naiionwidc naiioADI conlcrenct whtre variou% Ihtmc¥ and of lh¢ Lommunity lile wcre addre.%L¢J. Ncw loc014sMblI8 WL s¢artid 1(}8$ (hi ftallun. lThe Churity held ctsmmllnity enhon¢eme#t pro#T8mme ihrough 8ciivities like brbttL'u¢ picnic5. childTLn play ¥roup5 and financiol Ir&iDln8 EYD8ramrneA. Thesc a¢tivilic¥ opcncd kn memt)cry ofthc mmUni11cl. Vinnclil TLWI¢W Tutsl inc()ming TC50urce% lor ihe ye&T w&s £5.161.397 12022 - £4.22fi.230I and iulal rcsuurcL'& £xpeThded on charitablc BcliviliLS 01. £4.940.127 12Q22- £2.952.Hfi31. Thl. nLI Surp] l(Ir Ihe Y¢ utl¥r dLQuciing rLIuyiiscd 10C5 ul'£l.250 underTCViEW L¥26.92U12022-1,273.3671, Invtitmtni polley obJectlvi¥ Th¢'fruxlcc4 Ihr(buxh IhL p)w¢r v¢sl¢d in thwn tjy IhL ¥ovLrDin¥ con4lilutiull Ip inv¢%t ¥nd d¢Jl with Any monie% of Ihe Charily. noi IMML11¢IY r4quirLJ. its ayby ¢)r tyr¥unisutiiin (Ir enter into iDint Vethr£s wilh Ih¢m pmvid¢d th Ihc and i?bj¢¢liv¢% ol. sN¥h companies Thr nrganixalinns do Trol ¢iillfli&t wilh th¢ prin¢iplc¥ And provi%ivns of Iht Holy Scriplur¢s and ienets ol. Ihc laiih ond dL'claroiion% ol. lierhL,Id by Ihi Lhuriiy. The policy ol. IhL 'fvu51LL's is I invesl lund5 rtol imm¢diJl¢ly r¢4uir¢d by Ihr Lhyriiy in 4 ivmbiThJlioTh of cosh dcwsils and 4uoILd invL'slmLThl%. 'he market vBluL' of invL'&imeni8 h¢ld ai lh¢ yLttr tndcd 31 D¢¢L'mkr 2021 WLS £59,313 12022- £60,563) 'I'hL C'harity invisim¢nly Jr¢ man&g¢d liy indcptnd¢ni invc%irnrnl Hdvis¢r$ uThd¢i dixLr¢liunary FxiwLr¥. 'IhL' invLIMment p)rilolio is mano¥L'd by tskini Illlu XLLuuni thL Rvxrd's lllliiud¥ iu rilk. TIIL invcMlTh¢nt pcrfomance is coNsid¢red sali%f&ciory when comp8rcd io major ffjrk¢l indic¢%. Ruerve% polify Ti 1.4 th¢ ¢x)licy •f Ihc floard iu M&intB1 & bal1C on UnTC8iriclL'd fund8, which is equal lo six munths vl. unrcilriclrd pthymenls. This iy rcviLw¢d IhTOU8h Ihc manB8Lmcni report cv¢ry quurllr Irj ensure that it is relevt Ihc C'.hstity' rinllnLial SllllL'. -Ihc 'frue& consider thBt TeyErve8 &1 this leycl will cnsurc Ihlll. in IhL CVEllt ol tt 8iBnilicllnl drop in iTrcornL', thcy will h¢ ahlL Iv cnnlinue Ihe Charity's current activities whil£ con%idcraiiun is glven ways in which addilional lunds may he raised. Thi% level tsf icxervcs mainiainEd Ihrvughiiui Ihc year. The Chirity's re$ervcs the ycar'nd wlls £17.113.561 12022 £16,186.6411. iTrf which £114,421 1.4 shown rcsiri¢14d fund. The Te4iriLILJ fund 18 ¢arn?ark¢d ia b¢ uKd in th¢ furthcrHn¢c tyr ihc ¢hwity's obje¢tive$ tu aLquire buildinss lu k u8cd tor pla3 nf WDTBhip.Thc net v&luc of ian¥iblr fiN£d us5¢Li were £12.221,611 12022 £11,803,0691. As ai .1 I Ik'ilmhcr 2023 the r¢mainin¥ net ruervei o14.891.95012012.. £4.321,9421 15 held tu pruvide working rRpitsl for the Charity, lo pmvidc and tDr £onlitLBenciesand to bc Bvllilllbk ID ¢ontribute towarth Ihc pur¢h4sc and improv¥m<nl orr8cililies ill furth¢Tanc¢ ofih¢ fulur¢ work ofih¢ Chgrily. Fiture plHni The Boerd wll %K¢k in Ihc cotning yc&r lo furthcr kc<p down Ihc of runThin8 the Chdrity.-fh¢ Floard 1% dctenTrincd lo lee that Iv¢al assemblies 8r¢ ¢¥tabli5h¢d within Iht Uni*d Kin¥dom. There plans lo llcqul buildi¢ for lo¢dl Bwmblies.
DEEPER CHRISTJAfi LIFE Mif41STRY REPORT OF THE TRUSTEES FOR TtIE YF.AR ENDF,D 31ST T)F,CF,MIITr,R 2023 STRUCTUR& GOVERNANC.E AND MANAGEMENT GoverThlnE documETht The ¢horiry is controlled by ils governirtg document. a dc¢d of trusL and con8tiiules H limitrd r(bmpany. luniied by guarantee, d£fined by the Cump3nies ALI 2006. ThE Charity i% constituted hy a Trusi D¢d. 'fhc Trusl WHS r¢¥isl¢Td with th¢ Charity Commis8i41n •n Ihe 51h August 1987 and thL' mD81 r¢'nI Lvnsliluliuts Wa uduplcd appruvLd (m IhL' 13th Ik.ccmber 2010. Tr TTuslees who 8erve durin8 the year wLYe:_ P&%lnr Dr. Willi8rn Kumuyi (LhuirmllTrl Pasior Paul Akowe Mrx Muni AkinAanya (TreaT¢r) Mrs Esiher Kurnuyi1.8e£retsryl Mrs Mary Uk¢nwB Id¢c¢a8cd 12102120241 HruItrat And •ppoinlm¢nt of n¢w tr¥4t¢ rnbses are appoimied and appmvLd by the Cjeneral Sknp¢tinndertt. The Trtte9 have eslablished proce¢5 for th induciwn End trainin8 Trt'ncw and ex11n8 Trustee TrustCE5 nt. thc Churily hNvc thc r¢swn5ibility ol. cwp¢ratinB with the Chllirman of ihL Rvllrd. who is also th¢ CTcnefo1 SuperiniL'ndL'ni ofthr Chllrily wiTrrldwidL'. in Ihr fuifilm¢hi ufihL' Pasiiiral. evon8eli&liL. WLIUI und ecumcnical missiun ofihe Charity. The TTU$tu'N rexpnnsihl¢ for ihe m&na&emenl Dnd mllintL'nthLL' trfthe church phyyi£&l Lls wiihin Ihc Uniicd Kingdom. The ChArity ¢llrrie% (>Ul il4 411ivili¥¥ ofyrvs¥ Ihc Uftid KitsEdvTn Ihriiugh the Regional llciwurks. F(>T mon88cmcThl rwici 1¢ Chmrily 18 ¥urTLnlly dividLd illio lhi.rn r¥gions rosS Ihi Uni¢¢d K¢n8dnm. l.'H¢h R¢givn 1% headed by x Re8ional oVe¢T whts h&8 8upervi$(>ry a$ well 0$ PLgtr)Al (>ver.$ight over Broups Of ihuNhes wiihin his ¥ln. Re8iTrn41 Qver4eerR and Ikir wivL'$ 4rL mcmk.ys lif Ihi. Niionul Repre.qentsiive CATrunciI INRLI, 'Ih¢ NRL rL'POrt5 dirtcily tu ihc Gcncral Superinlendcnt IhrtsuBIL the BTr&rd ofthe Charily ch&ircd by him. Th#rr i% a m&n88¥mLnl hird th41 meeL% lin 4 r¢¥ulJr bHsi¥ lo llddr¢¥5 i55u¢J r¢lulin8 iv lh¢ dlily mun&¥¢m¢nl ill. the Chuily.Thc Lhllrily $lill holds one il's properties in the old (Thiriiy. The charity Pllsiur Suhday OkLnwH vn thL' 2nd ol. August 2023. HL diid while atiending u youth cvnfcr¢nr¢ owgBnis¢d by the charity in NurfL)Ik. Ilniil hi$ d4ath h¢ wM5 th¢ dire¢tOT of linHncr Hnd th& Rr¥iiin81 Qvers¢cf for r)ulwiLh. WL will yjrely miss him. Most of our tru¥tr¢¥ #r¢ ronvcrwnl with thc daily wvrk 4)fihc chuTlty."I'hLTh ix fyn ort-going struciurc in place foi the re8ular trainin8 of IN$ie¢x mana8rmLni.qtarrio kL'LP Ihem abrL'#St with developm¢nl¥ in lh¢ Lharily world. RlJk mAniemr•t Thc nLI.M HuRrd ha5 put in pl&ce Rdequalc guideline% and procedurex for idcntifyin& muttiioring and mon¥Lm¢nl k¢y ri.lkx 10 whi¢h lh¢ Lhariiy is ¢xpo%¢d. Th¢&¢ is urylal¢d annually. I'h¢ Hoard h&4 tBken necessary xicpx milLBaie the wtentiRI iM[cl of id¢ntifi¢d risks. 'Th¢rc is on guin¥ risk Irainin8 for full tiTnc and volunieLY sthff of ihe Lharily. Pag¢ 4
DF.I.-Pfv.R ('.11A1,
l.11,'b. Mi INIS
FnR Tiif. I'LAR b.Nl)F.l) 31s'r Db.CF,MfsF.
2023
SI'RIJC.TURF,. C.OVF.RNANCF. AND MANAfvEMF.Kr
STATEMLNT ON COMPLIANCE WII'H CIIARJTY COMMI&SION C.IIiDANCb,'
Thc'l'n]slrL'8 grc abr¢B%I wilh correni 8uidcline4 from the bUPLrvisory The MageMent board r¢8ularty TeViCWS
i18 aciivLti¢s lo eTrsuTe complianL¢S with re8ulalOry fram¢vwrk8.
GRANT MAKING POLIC.Y
Thc Charity doL¥ not mak¢ $ignificanL grantg 10 indivtdu&ls or other inslituiiun8. Th¢ Charily doES howtv¢r, aslt other
Deeper ChTisiian l.ife Mittislry organis4tillns throughoui thi WnTld. fht Lh4rity a150 .SUPPUrt% membcr5 who are in
dilli¢ulii¢s tyiiher financially or providitLB uihcr me4D5 Hs rc4uired. Assistance may br mad¢ ts) oihcr nTrA..p¢r lit¢
charitdble i)r&Bnisaliiins from lim¢ lo liml Jl IhE discrL'iion ofih¢'l-ryS¢Ee$. SOML, b¢rcaved fttmilies in the L&urth were
SUPPDrted during ihe year.
VOI.(JNI'ELRS
Thc Charily rLlies on the vf Volunk¢rs lo delivcr its obicctivts well thc day IL) dy Nnrting uf thc
org&nisation. The coniribulion made by ihc wulunle¢rs i¥ signifi£ani. ulihuuBh no monetary valu¢ tan bc placed on tht
&erviL¢8 Ihal they pruvith.
FIINDl> HTr.I,I) AS LIISTODIAN FQR QTHTr.RS
Thf Lhllrity did noi hvld lun¢ts cu%luJiths iin lblI.01.0thrrs in Ihc y¢ar ¢othd 31 T)L'L¢mkr 2023.
STAI'b.MENT OF TRIJSTFb..41 RFAPON8IBII.ITIE.8
Th¢ iruAte¢% Iwliii arc alyu the diTcLtsirs ol. Ik'LpLr ChrilitiaTr l.if¢ Miniyiry ftsr ihc purpuY%
DEEPER CHRISTIAN LIFE MINISTRY REPORT OF THE TRUSTEES FOR TEIE YEAR ENDED JIST DECEMBER 2023 Re1 of Ihe Iruiie¢%, in¢orpTrTaiinR a Siraicgic approvcd by order Df the of tllL8ttt4 as thc compBny dirtttor4 on.-.Iq.l...oq.l.kn&.y. %nil signcd on Ihe tr1rd,8 behaifby.. Pa5ts)r S P Akowc. Tnut¢c
REP
RT
TIIE INDEVENDENT AIIDITORS TO TIIE MEMBL
D),Tr,Pb.R CHRTSI'IAli I,IliTr. MIiYISI'RY
Opin?nn
We have aullid th# finHnLiul thl¥tn
RT OFTHE INDEPENDEliT AUDITORS TO THE ME EEPER 'HRISTIAN LIFE MINISTR -MatterB on whlth we are reqylred w r¢port by ¢x¢¢pti• In the light of Ihe knowledgc and undcrstsnding of Ihc chgrilablc compathy and its cnvironmeni obtained in Ihc course oflhe audil. we have nol id¢ntitied material mi55tamtThts in lh¢ R¢porl ot'the trust¢¢s. We have nothing lu retx>rt in tespeLI of the following rTrRlkTS where Ihe Companies ALI 2(X>6 requires us to report 10 you if, in our opinion.. adequatr aLLountin8 records h&ve not been kepi or reliiTns adequatr for OUT audit have nDt been ttccived rtom branLhLS tiot VlSllL'd by us- or thc fLnan¢ial leMent$ ArL' nut in aKTeem<nt with the aLcuuTrlin¥ reLUTd% and reDJrns: or certain di.gc108ure8 of truslL'es' mUntra(10n spctified by law ftre noi rnc.. or we hav¥ nol r¢¢iv¢d #ll th¢ iuforrnation And ¢xpl4Dation5 w¢ r¢quir¢ for our audil. RcipnThJlbllltlei of trubtc¢ A.8 ¢xDlained morn. fully in Ihe Sthiemetti of trustees, resp)nsibilitie4 the irllsi¢e& (who We &18(J the directorR of ihe charitable company for th¢ purw¥5 0fwmp#ny luwl gr¢ sPunsIbl fur Ihi pr¢paralitrn Trfthe financi41 ylalemcnls and for bcing s&listied thai they aive a Itv¢ an¢J fdir VIL'W. fur xuch internlll conirThl 19 the tsijsiees d¢iennin¢ 18 n%SY lu en&hlc lh¢ prcpar&tio# of fioancial tateMentS IhHI are fTee from mRlerial TlliS51ai¢mcnl, whcthrr duc lu ftalld nrerror. In PTcp&rinB IhE fJnHncipl i14km¢nt5, the tTu¥k15 ar¢ T¢5ponsiblL fur w55eing th¢ charitable company'j abilily iii ontinuc BS & going concern. discln.8in8. as 8ppIiLobl¢. matt¢r8 rtlod io 8oin8 contem and u¥ing thc going con¢Lm basis ol. ae¢thuniin¥ unl¢ss Iruskcs Either jtilend io liquidalc thc chirilghlc iompany or lo iyperaiioni or have Tcali8tic a1MatIVC but to do . Pag¢
REPORT OF TIIE INDEPkNDENT AUDIi'OKS'fo 1'I1E MEMBERS OF DTr-Tr:PER CIIRISTIAN LIFE MINISTRY Oyr r¢¥pon¥rbilttie8 for the ADdit of Ihe ffinaneiil stitemtn OUT objcctivcs llrc to obt&in reasonable A%urdn¢e whcth¢r th¢ fJnHnLi&l slalemenls a5 a wholc arc Ir¢¢ from maTial MissenL whether due to Iraud or trror, and to issue a Resx)rl of the indepetidenl audilors Ihat clUdeS Our opininn. ReL$onahlc &ssurancc is ll high Icvcl of Bs5urBncc. bul is nol & guaranlLY IhBt on audil ¢onducied ccordance with ISAS IIJKI will alway¥ d¢t¢Lt a mtrIal missiar¢meni wh¢n it ¢xists.. Misslatemenls arise from frttud or eTmr ld llrL' con5idcTcd m&tcrial if. individu&lly or in the aggrcgalc, Ihcy could )nIblY bc exsxcicd influence the economic deLi¥iOnS iak¢n the ba¥is of Ihese fin¢11 biaiements. Th¢ ¢Kl¢nl lo whikh our procedur¢5 ar¢ ¢apabl¢ ofd¢te¢ling irr¢8ularitie5, in¢ludill8 froud 15 ¢kknil¢d b¢low'. A$ part ot'our plann1n PTUieS8'. W¥ LnyvirLd uf mano8¢m¢ni the $y%lem8 and ntrOL the ¢i>mpthy has in place, lh¢ areas fin4nLi#l lilalemenl% Ihat Rrc iiiosily susceptible to Eh¢ ribk of I¢gulariticS fraud, and wh¢ih¢r thcrc wa8 any known, SII$pCLd or allL'ged rrTrud.'fhL £hl1e company did nni inlomi us of Bny known, lulled or alle&¢d frgud. .W¢ obtllirKd an undeTsianding ofihL 1¢8ol and rc8ulai¢Jry fromcworks applicable lh¢ eharil•blL cnmpany. .WL Lonsid¥rL,d . itlLcNlives And opFx)rtuniiie% Ihal exist itt the ¢()mpany. incliidini ihe extsni uf muThu¥¢ment bi& which prt4etti g wlcniiul for irrcguiMrili¢8 und frnud b¢ FryJclulld, Hnd lIOr4d our Ti5k us¥¢tssrn¢nl xccordin81y. .lJ%ing QUT knawkd¥¢ vfthl fyomwy, til8Lth¥r wilh Ihi di¥Lusbiuns hLld wilh IIK. wmp#ny ¥1 thL pIHnnin8 xlagc. w¢ tormcd & wncluRion on Ihe rIk lif mixyLatL'mL'nl duL' irrLgulatiiiL'b itsLludin8 frnud and iail¢)fed our PVOULdUq urdin¥ ihis ri&k C%Men1. As part ol. un audit e0rdne with 14A5 IUKI, wc LXLrcis¢ profLsional judgemcnl and maintain profc8111)nal 5CePti¢i%m throughnui Ihc audit. WL also.. Identity and a&5ei% IhL' risks vl. mglLrial mi>silll¢m¢n¢ ul. lh¢ linanLial Slal¢TnrnlS. whrihL'r du¢ 10 Iraud or ¢rror, dcsign und P¢Tform audit pr¢)durt.4 rc4wniiv¢ 11> ihosL risk4 llnd i)bthin audii cvi4J¢n¢¢ Ihal ib SUtTiii4ni ond apprnpriie lo provide flir uur opiniiin. 'lTh¢ ri¥k uf nL)i ¢J¢l¢¢lin¥ y mMleri01 mis%ikiemeni icsulling fNim rr4ud is highcr Ih4n for one resultin8 from etTor, Iraud may involve ¢Dllusion, lor8Cryi inlcnliunul vmlq%lon& mi.irepre.%eniullllnS, vr IhL' vvctTidL iTrl'inlcrnal trOl. Obiain under8lRnding i>f inlLrn#l iuntrul rLILvani Iv IhL 4udit in 4)rdLr li? d<.4ign audit pr()ccduTL'Y ihal llrL' appropriate im IhL' LifLumstHncc& bul nul fur thL' purpoyc uf cxprcxyin8 an opiniiin un ihc etTecliventBS uf th¢ chllrilahle LonY'Y inlLrnl conlrol. I,.valuaie the appmpri&tenLs8 iTrl' ULLounling ty)IiLiLS uscd ihL' rcHs(TrnllblcnL%8 I)f acc(untbn8 e8tim#icB r¢l8lrd di&ciusurL'S mlldc hy the truste¢%. CoLiclud¢ on Ihc uppropri&i¢ncgs ol'ihe truslc¢8' Ii%e ot'ihe 8oin8 cnttcern b4si$ ofttc¢ouniing ttnd, ha%cd on Ihe Bvdil LvidL'nL¥ bl¥d, wh¢th¢r a mat¢¥i81 unc¢rtziniy ¢xi5t8 Irlalf d Ip ¢v¢nts or ¢onditlLia¥ ihot moy LH51 8i8nilicanl doubl frn the ch8fiillblc ¢ompany'% ttbilily lo coniiiiuc a5 o goirt8 wn¢ern. If Luhcludr that o mulerial un¢cduinty cxiyl% we &rE requiTed lih dr4w Hlt¢nliun in (JUF Rcp()rl vf lh¢ ind¢pLnd¢nl lludili)r¥ kn the related di5cloyurL'5 in Ihe rinan¢i81 ststemenis or, if such disclo5ureE arc InadCqutc, l(> modify Dur opinion. ()ur LTrn¢lusions baBLd on th sudit ¢vid¢n¢¢ vbi#in¢d up io Ihe d41¢ uf our R¢5Xirt ot. Ihe ind¢rKnd¢nl 4udiiors. Htyw¢v¢r, fulure cvcniy or ¢ondilions mthy lau Ihe charitoble tompany'$ to c¢a% ¢Dntinuc &¥ 1 8oin8 cnncern. Evalualc Ihc nvcrllll prcsL'nilllion, %lruclur£ snd conlenl Dl. Ihc tinancial sLements, including Ihc di.¥clts8urcs. and wheiher the finBncid SlRtcmcnlS rEprc8CThI thc undcrfyiny lrnnsaclions and cvcnis in a mAnntr ihal a¢hicvcs fair prcscnlalion. We rommuniuitr wilh Iho5c ¢h&rg¢d wilh govcrn4n¢c r¢Bardingy Fmpng othcr tnittcTS, t pl•nn¢d 5Gop¢ ind timing of thL uudil and sinIfInI audii findings, in¢ludillg any significllnt thfiLicTLcies in inkrnll tonir()I Ihthi WL idl'niify durillg our 4udit. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEEPER CHRISTIAN LIFE MINISTRY Use of our report Thi4 rcport 18 mad¢ solely to tho charitablc companvs members, as a b(dy. it) accordance with Chaptcr 3 of Part 16 of thc Companics Acl 2006. Our audit work has been undertaken so that we might stale to the charitable company's memkr5 those matlers wc arc rcquired to state to them in an auditors, report and for no other purpos¢. To thc fullc%t extent permittcd by law, we do not accept or assume Tesponsibility to anyone other than the charitable company and th¢ charitable compan15 members as a txmly, for our audit work. for this report, or for thc opinions we have formed. Mr EneZer Oklli, {BSc). FCCA (Scnior Statutory Auditor) for and on behalf of L¢roy R¢iJ & Co Charicred Certili¢d Accountants and Statutory Audilors 299 NoTthborough Road Norbury London SW164TR 19th Seplembcr 2024 Page 10
DEEPER HRISTIAN LIFE MINISTRY FOR TIIF. YEAR F.NDF.D 31ST r)F,CTr.MBER 2023 2023 2022 Total UnMtrlrt¢d ruAd ReJtrl¢ted funds fund¥ Notei INC.QMF ANfJ F.NDUWM>:NTS FRUM Donalions and legacies 3,104,411 1,664.344 5.468.775 3.827.592 Chwrltable •ctlvltlei Church 97.938 97,931 139.4¥1 InveMm¢ni income Other inLOm¢ 186,827 114857 1¥6,H27 114 857 118052 Total 4.204 053 1664 344 5 8611397 4 226 230 EXPF.NDITIIRE ON LhAri¢abl¢ Attivitiei ChurLh 3 151585 178H 642 4 940 227 2 (J52 863 N¥¢ RAInlI$) un inv¢simrnlS 2501 Nb,T INC.UMFI{FXPF.NDITURF.I 1.051.2111 1124.29RI 926.920 ,273,367 RF.C.ONCII,IATlnN OF FIINDS 'roi81 lunds. bruubiht forward 15.947.915 238,726 16,116,(Al 14,YlJ.274 TOTAL FUNDS C.ARRIED FORWARD 16999 133 11442% 'The no5 fortn p8rt ofthese finan¢iaI 5tLtements P4g¢ 11
EN TDE 2023 2022 N•t FIXED A&SKTS Ttt8ible XnveknD IU21,011 11,863,669 59 313 63 12 I23.914 11,924232 13 293.379 4 594456 323,763 3 975 294 Cth it bknkAnd ID hthd 4,887,835 42995? CREDrroRS Amount8 f&U"Ln8 within onoyelr 14 (35,198) (J6,6481 NET CURRKYf ASSM 4 832 037 4 262 409 LIABII,ITIF 17,113,561 11186.641 NET AS8rf8 10 186041 FUNDS 16 tkn Re41rith1 fvnds.. Building Fund )&999,133 15.947,915 114428 2J8 726 TOTAL FUNDS 16 186641 The fin8n¢iol s¢aivrD¢nlu wor¢ OPPToved by the Board of 7kn 4nd luthun.8 for ioM¥J on I ql.o.q.1.3oi%Y... and were ii8ned Ofh its behalf by.. M M AkinMfty*- Tnwtec S P Akow¢-Tru4t¢¢ The form part of thcs¢ finllnwl stytrmcnts Pa8e l2
TATEMENT F CASH FLOWS R TIIE BF.R 2 21123 2022 Not Cih from OPErtlTh% ¢tlwlil¢ Losh gLnLrtttcd frvm opcraliuns 12¥1458 1.448.367 Net cash prDvidcd by op¢ratin8 a¢liv¢li¢¥ 1281 458 l 448 367 Cash lluws from iThvotinK attiviti¢i PrCh ol'lan&ibl¢ fixLd w¢1$ Sale of f¢xed in5¢niS Rtwaluaiio {675,8241 11.250) 1.250 1149.798) Nel cayh uKd in invextill8 aclivitics 662 2961 147 5571 repaytn¢nts in y¢ur 855 120 N¢1 i#8h providld byMu5cd inl fbn4n¢in& activilie5 1155 1201 C.hAn%t in cllxh cwih ¢qyiv*leTrli i tht reportlni perlDd L•ih Ind gquivul¢DtJ at Ihe bry5nnlnR f the rcportlng prriod 619,162 445.69) 3 975 294 3 529 604 C•ih ind tqulvAlenli Il ikt end of thc repDrting pcrlod 4 594 456 3 973 294 Thc w¢¢s fo part of thexe finllnGi418talemenLs P&gc 13
THE TATEMENT F CASH FLOWS BF.R REC.ONC.ILIATtON OF NET INC.OME TO C.ASJI FLOW FROM OPFRATINC. AcfiviTIES 2023 2022 N¢¢ iDcomt for the reporling peviod ptr the litttm¢nl of fin4n¢ial Attfvltlesl Adju¥lm¢41i for.. epreciaiion charges LtK%s¢s nn inv¢stmeotN Jnterest fL'LL'IVLd Dr¢Tc&4el{incrcaK) in debtors InLrea¥elldecre8sel in tteditors 926,920 1,273,367 317,881 1.250 113.5281 30.334 208,533 122411 129,2171 Net tsih provlded by operAtloni 1.281.458 1.448 367 ANALYSIS OW LHANGF.14 IN NfT FUND? At 1.1.23 CAih flavi Ai 31.12.23 Ncl caih C&8h ot bank lln¢J in hand 3 975 294 619 162 4 3Y4 436 3 Y7J 294 619 162 4 $94 436 Total 3 975 294 619 162 4 5Y4 456 The notrs form pllrt ot'thes¢ fjnancial *atemenls P 14
NOTES TO IHk FINANCIAL STATEMEYTS
F. VF.
'F.MH.R 2
87'ATUTURY INbORMA TION
r)ccrKr Chrislian Lite Minislry 1% a privat¢ limited company limitL'd by guaraThlee withoul yhaTC C&Pilal.
r¥¥ist¢r¢d iTh England and Wales. The cvmpany's registrr¢d number is 08134602 and li¥ r¢gislw¢d addrcss is
I'rnnsfornialion I]lle, %1 John's Tlill. L1&ph )n¢(lOn. l.ondon 8WI I IAD.
Thc compmy is a Tcgiswrcd charity with th¢ following Tcgulators..
Th¢ Charity Commi%%ioll in Ejgland and Wal¢% with charity numhcr I15O1I36 vd¢r its Jtov¢iThin% doctsmeni.
lh¢ memor8nthLm 8nd articles irtcvrwrad on th¥ 9th July 2012. The thariry operas 8s a church throughllut
I':nKland and Walc%.
I'hc orri¢c ofscolli$h Charty Regulator in ScoilAnd with ¢lwrity numh¢r SC1I40fi73 on ih¢ 171kn July 2009. The
charliy 1¢$ in S¢oiland. I:,ngland and Wales 8nd overse&s.
ALLOIINTtNCI POLICI
BA.SIS OTr PRTr:PARING THI: blNANC.IAL STATTr.MTr:NTS
Thc linBnci&l yt&lemcnis' of t. LharithblL cvmpany, whi¢h ib & publi¢ b¢n¢fil cntity under FR8 102. hllvL bLcn
prLw¥d in 4¢Lurd4n¢e with ihe Cli111¢% SORP (FR$ 1021 'Accounling And Repunill8 by Ch¥riii&s.' SlJl
Tl FOR THF. YF.AR F.NDF,D Jlst DECEMBF.R 202 DONATIQNS AYD I,F.GACIF.S 2013 2022 Tithe8 and DtrerirLgS Gift aid Gb88ida HQ Offerings 3,878.646 136.518 453611 3.527,571 2115.¥52 5 468 775 3 827 592 INVESTMV.NT INC.OMF. 20 21122 R¢nt¥ r¢L¢iv¢d r)¢posii actthunl irti¢re$t 173,299 13¥.364 1116 827 INC:OME FRQM CHARII'ABI.F. ACTIVITIF.S 2023 1022 Activlty ChurLh Rwks and Cd5 slllc5 CtsnfLrLnLe Ind reireal incomc 94.059 97,744 ChurLh C.FIARIT Afii,F. AC.TIVITIE8 CO.8T Dlretl C.'oiti Ixet no¢¢ 71 Church 4 94fj 227 DIRF.CT COSTS OF C.IIARITABLE AC.TtVlTIF 2023 2022 Trus¢e¢l rcmun¢rilion ¢1¢ Siaff Lo% 'rcl¢phone P(88¢ and gtstion¢ry Adverti.ginE and Iraris ChurLh r¢fre%hment5 Mi$sivns, grants & donaiions SU1111¥ Church eXp¢ll$ fjb&gada HQ cost PnTrpL'rtjE5 and IRcililie5 W$¢ Confcrcllces and relreals Buoks Rnd CD'S ¢xp¢nb¢¥ Other exeS Y2,Ill5 270,533 63,513 18,350 ,Z96 84,252 28U,796 85,864 1.453.611 615.446 493.374 16.445 43.61)5 414.852 195972 HI,964 256.912 40,569 13,436 66,351 49,9 224,841 300.060 454,601 201.OV6 48,720 26,128 390.315 226 36R Regional expen5¢S CwTi¢d fotward 4.l37,2l4 2,512.518 Page 16 cotrtinucd...
NOTE. T THKFI AN IAL TATkMLNT ENDED 31$ - collnUtd DIREC.T C.OST.S QF C.IIARTTABI,F. ArriviTIFS- to•tinued 2023 2021 Brought fonv8rd SU.ripll0ll WelfaTe, Training and coll* Trnn5PiIrt and ira¥cl hudil fees Lcgal and profes8ifjnal feci Bartk ch81'S & intcry quipmenl hirc Ikprecihtion 4.137.214 6.36A .430 399,314 31,912 12,036 15.563 18,439 317881 2.512.511 5.425 16.336 24,000 23,913 41.127 9,459 208 533 4 940 227 2 952 863 NTr:I' INCOMP.IITr:XPTr:NDII'URL) NL'I inLtsmcllBxpchdiiur£l li 8iat£d Aflet chAtKln8llcTedltln81'. 2023 2022 Depreciation. uwnL'd as8¢ 317882 2118 534 ThIISTEL%' Rb,MVNF,RATION AND HTr-f4F.FITS 2023 1012 Te%, 4alllTLeB TtAte¢' si>¥iHI '¢ur11Y TrusiiL$' p¥n$ivn wnIrib¢I0$ lo drlinrd brn¢fJl s¢h¢m¢¥ 82.186 .131 73,136 7,864 944 10. TAFF COSTS 2023 zozl W£.¥ 5&1llrics ncial fccurity LOSt4 (hher pethgiun wsig 335.51)3 20,565 312,75U 19.880 362 638 338 876 Silifcosts noted ibove intludes Trustrtg RenurnetAtion reported in Nots. The JLvew¢ monihly nUmrOr employees durlrtg the y¢Af w#s AS follows.. 2023 2022 DiTcGI charitsblc Manllg<meni ATLd admiThi5traLiort There We no emph)yee8 whose Anttual remunerntiott w8S£60.0 or more. Pa8c 17 continu¢d...
DLLPLR CHRISTIAN LIFE MJNISTRY NOTF.S TO THE FINANCIAL STATEMENTS- ¢ontiny¢d FOR THF YF.AR ENDED 31ST T)F.CTr",MIIF,R 2023 TANCIRI.F. TrVXF.D ASSF.-fS Land And buildingj PIAnt Ind m&chi#ery Modor Totsli COST Ai Isl January 2023 Additions Dispo1¥ 13.809,477 402.600 1,776,484 S5,094 319,051 21%.070 162001 15,905.012 675.824 162001 Ai 3151 December 2023 14212.137 1 ¥31,578 520 921 16.564 63(> DEPREC.IATION Ai 18tJanu8ry 2023 Charge lor ye&r l.'liminwted diApos&l 2230.129 146.940 1,570,953 132.715 240.261 38.227 4.041.343 317,8&1 116.2(X)I At 3181 tkcemkr 2Q23 2 377.069 1703 668 262.288 4,343 025 NET BnnK VALIIE AI 3 INI tkcember 2023 11835068 127910 258 633 Ai 3181 T)ecember 2022 11379 748 205531 11.163 669 12. Ixb D ASSLI. JNVTr:SI-MTr.NI'S Lbied InveiimeDt¥ MARKb.T VALUE At 151 Janu4ry 2023 Rcvalualio 80.058 At 31¥1 Tk¢cmbLr 2023 PROVISIONS Ai 151 J#nu4ry 2023 Pvovi¥ion foTyear 19,495 At 3151 De¢ember 2023 Nb.T BOOK VAI,UF At 31yi Dg¢¥mbLr 2023 Ai 3 Isi T)¢cembet 2022 Theye We no investment aMeL8 outside the TIK. Losi orvlualion 4131sl t)cc¢mb¢r 2023 18 fcpvcFnkd by.. l.iJted Invtilm¢nt¥ Vllluation in O Co81 3,759 Page 18 oniinuL'&.
EPER CIIRISTI MENT FOR THE VF.AR ENDF,D 31ST DEC.EMBER 2 nutd 13. DEBTORS.. AMOIINTS FALLINC. DIJE WtTIIIN ONF. YF,AR 2023 2022 Oih¢r r¢¢¢ivHb1¢5 Siaff loan paYments and aU¢d inc4Jme 250 19.A(M) 273 329 250 17.459 293 379 323 763 14. C.RF,DITORlb.' AMOIINT.S FAI,LINCI DIIE WITIIIN ONF, YF.AR 21123 2022 S11 (rily and pth¢r tsx¢$ Accnjals and deferred income 6,236 36.648 36.648 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2•23 Total nd¥ 2022 Total funds UTreitrl¢ttd fund Reilrk.tcd rundj I'-ix¢d Invrstsnrnls Cuwrcnt Luty¢ni liabiliiiL'ts 11,863.669 &0.563 4,299,U57 36.64R 59.313 4,773,407 59,313 4.887.835 55 1911 114,428 16999 133 114428 16. MOVEMEN[ IN FIJNDS N¢¢ ov¢mcTht In funds Ai 31.12.23 Al 1.1.23 fund 15.947.915 16,Y99,133 R¢nlrl¢t¢d fund* Buildirtg I'und 238.726 1124.298) 14,428 TOTAL FUNDS 16 186641 926 920 Pagc 19 ¢ontinwd...
DEEPER CHRISTIAN LIFE MINISTRY N( Al .1'ATb.M.NT5- conlifiued FOR TIIE YV.AR F.NDED 31ST DEC.EMBF.R 2023 16. MOVEMENT IN FUNT)S- ¢ontinutd Nel movcment in fund% includ¢d in thc alx)ve aTC as follows.. Incomlng rtiOUTce Resotyreei txpendtd CTIAJ And Movtmtml In fumds un51rItteJ fuThdi Genero1 fund 4,204.053 (1,250) 1.051.218 Rejtrlcted fthndb Ruildin8 Fund RestriLtcd bunds 210.73.1 1453611 1335.U311 453 6111 Il24,2911 664 344 1788 6421 124298 TOTAI. Tr-UNDS 5 #68.397 4 Y40 2271 al250) 926.920 Comp•rAtlwei for muvtment Ih Net movmtnt fundi At 31.12J2 AtJ.121 Ilhr¢ilrl¢¢¢d Cicncral fund 14.686.435 1,261.4¥U 15.947,915 Reilrl¢ied fuThdi Ruildin¥ l-.und 226.B39 11,887 238,726 TOTAL FUND8 14913274 l 273 167 16 116641 Compllrativc n¢1 movertnl in futtds. included ITh th¢ Jbov¢ llT¢ follows.. Reourteg cxpend¢d Movemtnl ruourc Untt5trltttd f¥•d$ ticneral fund 4.149,857 {2.888,377) 1.261,480 Remtrlfted fvndi BuildinJ4 bund 76,373 164,486) 11,887 TOTAL FUNDS 4 226 230 2 952 803) 273 367 P88c 20 oThtinucd..
EEPER CHRISTIAN LIFE MI AL TEMENTS- ton FUR THF YF.AR F.NfJED 31ST DEC.EMBE inued 17. RFI.ATF.D PARTY DISClnSURES Gbagda Building Pmlttt T)urin8 the year the thtrity r2i8ed olTerin8% th SllPPDrt the building pn)j¢ei king undcrt&cD al thc H¢od Quarters in Gb8gad4 Lagtb4 Nigeria. The total OITerin Hs Rl thE yeafvend was £1.192,838 12022 . £14,1(Tr91, part ot'which me Ir()m overseft8 Ministries. The ¢xdIre for materia18 PIITchased for the year review wa5 £1,453,6I I 12022 - £300,060). The l..xc¢&s ¢xp¢nditur¢ 01. £2(,772 was pwd by De¢T Chrisllan l.if¢ Miniary. No balaTrLY of Hcad Quu11er uffL'rin¥8 hcld year cnd in both currcnl prcvious yi'aT. F¥fttrRI c1 uneral costs were paid furonc vftk. Iru¥tett relaiiuns who died in the year und¢r review. Pag¢ll
Tl DETAILED STATEMENT OF FINANCIAL ACTIVITIES OR THF YTr:AR F.NDFn T l)b. 'F.MRF.R 2 2023 2022 INLOMb.' AND LNDOWMbNTS DDnL¢ioThi #nd l¢gwci¢ Tithes and uif¢rin8¥ Gitl yid Gba8ada IIQ Ollerin85 3.878,646 136.518 453 611 3.527,571 2115,152 5.46&775 3.827.592 Invtitmtmi Ineome Rcnl$ rgiV¢d Dtposit c¢ount iniert81 173.299 13¥.864 186,127 Charltabjt aeilvltl okx 4nd Cd'5 salcs ConlercnLL Ind r4'iNYI inwm 94,059 Y7.744 97,938 139.4¥1 Other Income Uihcr in¢iim 114R57 118052 TotAI lll¢umlTh8 r¢•oyrcei 5,861397 4,221230 XPLIYDITIIR& Chgrltable Atllvllk TrusL5, salaries Tru¥l¢cs' s(>cial 8e¢urity Tru%leei' r510 wnlribulions Wagcs 82,IR6 ¥.831 73,156 7.864 944 239,594 12.U16 S.302 4U,569 11,436 66,351 49.990 224.841 131,257 300,060 25J.317 5,482 63.513 18.550 ,296 84.252 2#0.796 85,164 TtlephvhL Postage Bnd stslioncry Ad¥erti8in¥ and ItllLts Church refre%hrn¢nl8 Missions, grants & d•naiions sellite church exp¢nK¥ Gbagudo IIQ Gost proprrtj¢ Hnd fllcililics wsl LonfcTcnces Bnd relrcats Tjvuks Jnd CDS ¢xp¢n8PS other expcnscs Service char8¢S Rcgional ¢xpense8 Sub¥'¢ripti4)ns Carried forward 11 615,446 493.374 16,445 43,605 414,852 IY5,972 6,368 4.143.582 454,601 201,006 48,720 26,128 390,313 226.368 5,425 1517.943 'rht8 dots not foTm of th¢ sla¢utory fJn8nci415tal¢rn¢nt5 Pagc 22
Tr:EPER C:IIRI. 'Ki' DET F.MF.NT F FINA, R Tllb. I'b.AR b.Yl)FI) 31ST I)F.C'.TrLMH&.112O23 2023 2•22 Cthllrilble xttlvltlta Brokn8hi forward WcifRrL'. frainin8 and cour*s Trsport artd tr4v¢l Audit fees LLgal and prof¢8sional fee5 Batth chor8¥¥ & inlcr¢81 EguipmL'ni htre DEpT¢¢iation ot'iangibk fLx¢d 4$8¢ts 4,143,582 1.430 399,384 2,517,943 16.336 111,552 24.OtKI 23.913 41.127 9.459 208 533 12,036 15.563 18,439 317 8¥1 4 940 227 2 932 863 Totsl r¢aources cxpth(kd 4 940 227 2 952 863 Net Intomt btf•r• 8Aittb Ind loilu 928,170 1,273,367 Rtill•ed ¥ilThi and Rc&liged 8N1n(lOle8I on fix¢d a&qet irtV¢s¢rtLen¢& 926 92 273.367 ThlN page does not form P&rt of tk statutory finan¢iil statcmcnts P&Kc 23