**Charity number: 1160677** ## **City Praise Centre CIO** **Trustees' Report and Financial Statements For the Year Ended 31 December 2025** **City Praise Centre CIO** ## **Contents** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 10| |**Independent Auditors' Report on the Financial Statements**|11 - 14| |**Statement of Financial Activities**|15| |**Balance Sheet**|16| |**Statement of Cash Flows**|17| |**Notes to the Financial Statements**|18 - 34| ## **City Praise Centre CIO** ## **Reference and administrative details of the Charity, its Trustees and Advisers For the Year Ended 31 December 2025** |**Trustees**|Mr Olayinka Tomori, Chair| |---|---| ||Dr (Mrs) Tessy Ojo CBE| ||Mrs Ruth Lindsay| ||Mr Olufemi Lakeru| ||Mr Graeme Baldwin| |**Elders**Mr Graeme Baldwin
Mr Stephen Ojo
Ms Bruna Branmdao – until 07 Dec 2025
Jeriel Algandara – from 21 Sept 2025
Meriemu Uraih – from 21 Sept 2025
**Charity registered**
**number**
1160677
**Principal office**
9-11 Lower Higham Road
Chalk
Kent
DA12 2LY
**Key management**
**personnel**
Graeme Baldwin, Pastor
Kwamena Beecham, Operations Manager
**Independent auditors**
Kreston Reeves Audit LLP
Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
**Bankers**
CAF Bank Ltd
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Reliance Bank Ltd
Faith House
23 – 24 Lovat Lane
London
EC3R 8EB|| Page 1 ## **City Praise Centre CIO** ## **Trustees' Report For the Year Ended 31 December 2025** The Trustees present their annual report together with the audited financial statements of the Charity for the year ended 31 December 2025. The Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity’s governing document and the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019). ## **Objectives and activities** ## **a. Policies and objectives** 1. To proclaim the good news of Jesus Christ and to advance the Christian faith through City Praise Centre (the "Church") for the benefit of the public in accordance with the doctrines in particular but not exclusively by: - providing and maintaining places of worship for members of the Church and the Christian community; - communicating Christian principles and lifestyle as taught in the Bible; - training Christians for ministry and service within the Church and wider world; and - partnering with other churches, faiths and Christian organisations to enlighten others about the Church and its doctrines. 2. The prevention or relief of poverty anywhere in the world by providing or assisting in the provision of practical assistance and support to the poor and disadvantaged. The primary activities of the Charity include running church services and events for the furtherance of the Christian faith in accordance with the teachings of Jesus Christ. These are carried out firstly for the benefit of the local community and then for other communities around the world as our resources permit. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. Details of the activities undertaken to fulfil this are explained in the “Achievements and Performance” section of this report. ## **b. Grant-making policies** City Praise Centre CIO continued its policy of small gift donations as needs arise to both local and worldwide recipients. This year, grants amounted to £42,701 (2024: £28,641) comprising £22,162 (2024: £26,193) of individual grants and £20,252 (2024: £2,209) of institutional grants and £287 (2024: £239) to various missions. ## **c. Volunteers** City Praise Centre is blessed to have many volunteers who give many hours of their time to make the Church flourish. During 2025, over 339 (2024: 330) members of the congregation offered hours of their time for Sunday and mid-week events. In addition to this, more than 27 (2024: 27) people regularly volunteer to run community projects that the charity is connected such as Foodbank, Street Pastors, Transforming Lives For Good (TLG) Early Interventions project, and the Sanctuary Night Shelter. The Trustees would like to record their gratitude for their invaluable support this year. Page 2 **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Achievements and performance** ## **a. Review of activities** ## **Overview** For City Praise Centre (CPC), 2025 has been a further year of changes. We have moved from a single Sunday service to two morning services due to the consistent pressure of high attendance that has outstripped our site capacity for a single service. Additionally, we have appointed a new Youth Pastor to enable the further development of our Youth ministry. However, we have maintained our long-term community roots which enable City Praise Centre to continue to achieve its objectives as a registered charitable incorporated organisation. Below are some of the key achievements in the year within different church departments that reflect the way in which operational budgets evolve, are set and finances monitored: - Membership: Activities that support those who consider themselves to be members of the Church - Maturity: Activities that educate - Ministry: Activities that enable the Church to function - Mission: Activities focused on the local community and beyond - Worship: Activities that encourage people to worship God ## **Membership** During 2025 the church continued to see an increase in the number of people attending services, particularly connected with our move to multiple services to increase capacity. Our weekly Sunday service attendance jumped 16% to an average of 520 people (2024 – 450 people), made up of 391 (2024 - 361) adults and 129 (2024 - 89) children. During the year 158 people completed a ‘New to Church’ form and the church successfully integrated 49 of these people as volunteers involved in a church ministry – that is 31% (63% in 2024) of the total, which is a negative trend that has been noted and more direct personal ‘New to Church’ sessions are being deployed to help engage people into the life of the church. There was a total of 339 (313 in 2024) people who volunteered across the year! We celebrated these amazing people with a Volunteers Gala ‘black tie and sparkles’ event for 162 volunteers. The charity ended the year with around 416 ‘members’ and 527 ‘regulars on its database. People who have meaningfully engaged with the ministries and mission of CPC in the last 6 months are Members, with those who have engaged with events and activities over the same period counted as Regulars. We are blessed that a significant proportion of the membership contribute financially to the church. However, there is always still room to increase financial participation based on the number of members. ## **Maturity** **Teaching** – Our teaching pattern revolved around various themes of ‘Relationships’, the ‘Sermon on the Mount’, ‘Message in the Miracles’, ‘Recognising the Messiah’, and the ‘7 I AM statements of Jesus. We also held a ‘May Missions Month’ to explore the various missions we relate to and support and welcomed Angela Gaeta (AoG National Missions Director) and Hannah Williamson (part of the AoG National Youth team) to speak during the year. Additional teaching has been provided through our in-depth ‘Theology programme’ exploring such topics as ‘Bibliology and Hermeneutics’, ‘Trinitarianism’ and ‘Soteriology’ through video-based teaching and a discussion group led by the Pastor. **Prayer** – Praying for the work and ministry of the church has been key in 2025. Weekly, monthly and quarterly prayer events have provided opportunity for the congregation to engage in prayers. As a conservative estimate we have seen over 950 hours (900 in 2024) of communal prayer engaged by the church during the year. This year our groups begun the transition to utilising ‘live data’ from our database, which at the end of 2024 showed 21 leaders, with 121 members involved in Life Groups (2024 144 people) during the year. The average group contains 13 members; some people attend more than one group, with the average monthly attendance across groups standing at 212 separate attendances per month. Page 3 **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Achievements and performance (continued)** ## **Ministry** **City Kids & T1/ T2** - Sunday morning City Kids and Youth has seen approximately 287 ‘check-ins’ each month by regular children, showing a 34% increase from 2024. 300 volunteer hours occur in the department each month, with 60 volunteers a month, volunteering at least 2.5 hours each week. Our Kids ministry ran for 11 months in the year; providing over £45,000 worth of free ministry. We also took 12 children on a faith filled adventure weekend to Carroty Woods. We had Olly Goldenberg teach the children how to be ‘Warriors of Christ’. We had a few people give testimonies of reduced anxiety after the weekend. **Youth (Fridays)** - Our volunteers have invested at least 3 hours of their Friday each week, many going the extra mile, attending the Rock Nations Conference with the youth, as well as Youth outings, like Thorpe Park. Friday nights have been exciting with developments in activities, new registrations, and check-ins processes, creating a safe space for young people to explore Christianity. We have also hired a Youth Pastor! ## Youth statistics in 2025: - On average 69 youth check-in a month (46% decrease from 2024), utilising over 6,000 hours of young people’s time engaged in positive activities, faith and relationship building. - Over 37 youth sessions across the year excluding special events and conferences. - There are approximately 11 volunteers per week, equating to around 1,221 hours in the 37 weeks Youth ran for. This is over £15,000 worth of free ministry. We are very grateful and excited to watch our young people not just being curious and keen to learn the Bible, but also to watch them grow in faith and understanding of Jesus Christ. **Men** – In 2025 the team held various key events: two breakfasts with 48 men at each; ‘Navigating Everything’ evening with 56 men, and a number of other minor events, in addition to the monthly men’s prayer online. **Women** – Thanks to the amazing women in church we put together and delivered 12 baby baskets for new mums, filled with essentials like nappies, wipes, shower gel, baby oil, moisturiser, shampoo, nappy cream, a blanket, and some cute baby clothes (mostly knitwear). Additionally, over 50 women attended each of the brunches and skills day events, with 35 women taking part in the ‘Restore’ retreat. **Staff** – In September 2025 we successfully recruited our new Youth Pastor, bringing our staff complement to 8 (3 pastoral / 5 operational staff) The modernisation of staff practices continued with the adoption of Bright HR and Health & Safety systems, backed by Peninsular. ## **Premises:** We completed minimal site works on our primary buildings due to the need to invest heavily in our manse, which needed complete refurbishment prior to being re let. Our regular commercial hirers have continued to provide a valuable source of income. Works have also been undertaken to deliver a significant upgrade of the Kids Reception, lighting systems, and general site works, to be completed in 2026. ## **Mission** **Pea's ‘n’ Pods** - During 2025 our average attendance decreased by 62%, from 2024, to 113 people per month during the 44 weeks it is open. This is as a result of a large cohort of older children entering the education system. We have recently had a large number of new families with babies under 1 though. This equates to over 9,944 hours of low-cost provision to support local families. Approximately 11 volunteers help each week for 4 hours each. Equating to around £25,000 worth of free provision and support to the local community. Page 4 **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Achievements and performance (continued)** **Schools Ministry** - Our schools work, particularly ‘Why Christmas’ and ‘Why Easter,’ successfully engaged with 4 schools, and our 'Why Easter' sessions alone provided 306 pupils, across Years 5 and 6, with 90-minute sessions explaining the real meaning of these Christian festivals. Cumulatively this equates to over 450 hours of input for local children. Additionally, our Early Intervention team provided 1-1 support for an hour a week to local primary school children and clocked up over 234 hours of mentoring with 6 children. This equates to over £2,800 worth of free mentoring hours. **Glow Party** – This was bursting at the seams again! 450 people (down from 550 in 2024), were in attendance, showing an 18% decrease. It was a significant outreach into our community. The result was safe and quiet local streets on October 31st. **Christmas Give Away** – Once again, we partnered with Westcourt Primary School. £1,000 was spent on 75 Christmas hampers for families at Westcourt. **Make Lunch** – We continued working with Westcourt Primary School who helped advertise and invite families in need to join us for lunch during half terms. This has enabled us to host 22 sessions over the year, feeding approximately 48 people per session, connecting with families from our local community and providing a total of 1049 meals (599 meals for children and 450 adults). Each session provided meals for roughly 27 children and 21 adults. In 2025, thanks to a TLG funding and the support from the volunteers, we were able to take 17 families on a trip to Kent Life (A total of 48 people). They were so grateful, and got to experience a tractor ride, feeding animals, animal talks, a comedy show and a foam party. **Mission India** – In 2025 we witnessed first-hand the reality of the stricter immigration and visa checks as one of the team visiting Carmel Ministries was blocked from entering the country. We did however still host Pastor Ebenezer and Pastor Isaac from Carmel at CPC in our ‘May Missions Month. We have continued providing financial support to our partners in Carmel Ministries, Eluru with regular and additional gifts totalling over £4,500 in the year. **Lunch Angels** - A team of 8 volunteers prepared and delivered 23 packed lunch parcels each week to sheltered home residents, home schooled families and vulnerable adults. We worked closely with the local Sheltered Housing Team, Young Adults Team, Foodbank, Co Op Foodshare, Greggs and Sanctuary to forge strong links with the community. During 2025, we delivered 1,055 (1,120 in 2024) packed lunch parcels, enabled by over 700 hours of volunteer time. Our delivery drivers have formed great relationships with the recipients, going above and beyond just the packed lunch, assisting with letters, phone calls and arranging visits to the church office! **Foodbank** – The church supports practically and financially, the work of Foodbank in the area – acting as hub to issue Foodbank vouchers four days a week.. During 2025, 521 (612 in 2024) Foodbank vouchers were issued from our office, supporting a combination of individuals and families. Clients are welcomed and offered the use of the lounge, which is also a registered Warm Space and a Safe Space for use by the community. Additional food is available weekly from Foodshare for clients to help themselves. Many relationships have been forged with clients connecting to church, Make Lunch and attendees at our main events. A conservative estimate would indicate that over 11,400 (13,752 in 2024) individual meals were provided because of this partnership. Page 5 **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Achievements and performance (continued)** ## **Worship** **Worship Team** – The worship team serve as a volunteer ministry leading sung worship for the Church every Sunday morning, as well as worship nights four times a year, other services, weddings, and funerals. The 27 vocalists and 18 musicians together invest a minimum of 2,000 hours into practice and playing in services and special events. As needed, we provide a training session for all the musicians to hone their skills and learn new songs. This allows new members to learn from more experienced individuals and grow the team capacity. ## **AV (Audio-Visual)** The AV team has continued to develop positively over the recent period, welcoming several new members who have integrated well into Sunday operations. Foundational sound?desk training has been completed to ensure all team members are equipped to support the technical requirements of our services, particularly following the transition to a two service format, which the team has adapted to effectively. To support team cohesion and recognise ongoing commitment, two social activities were organised—a go karting session and a Christmas curry—which were well received and contributed to strong morale across the team. Each Sunday relies upon 50+ volunteer hours, spread across 10 people. This equated, with rehearsals and training events to a minimum of 2,800 hours of volunteer time in 2025. Here are few statistics from YouTube 2025, reflecting the growth of our ‘in-person’ attendance: - 36.6K Views – 81% more than 2024 - 5.5K Watch time (hours) - 5% more than 2024 - 180 additional subscribers, 22% more than 2024 ## **Financial review** ## **a. Going concern** After making appropriate enquiries and assessments, the Trustees reasonably expect that the Charity has adequate resources to continue in operational existence for the foreseeable future. As such, they continue to adopt the going concern basis in preparing these financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** The Charity had restricted funds of £354,396 (2024: £369,342) comprising principally of an endowment equivalent to the net book value of the Charity’s two freehold properties of £348,741 (2024: £362,882). The other restricted funds at the Balance sheet date are the With Love Fund of £5,082 (2024: £6,460), the Mission India fund is £Nil (2024- £Nil), and the Mission Mozambique fund of £573 (2024- £Nil). The net book value of fixed assets other than the endowment are held in the Fixed Assets designated fund; the balance on this fund as at 31 December 2025 was £612,249 (2024: £480,785). Unrestricted general funds which constitute the free reserves held at the balance sheet date amounted to £419,504 (2024: £371,549). It remains our policy is to hold between 3 to 6 months of expenditure in reserves; between £150,000 and £250,000. This is to maintain sufficient level of reserves to enable the charity to continue operating; the present level of reserves is currently adequate for this purpose. Virtually all the charity's income are derived from members’ donation, and the trustees have taken the current prevailing economic conditions and its impact into consideration to assess the impact on the charity's income. Page 6 ## **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **c. Investment policy and performance** The Trustees have the powers to invest the Charity’s funds in any way they deem fit. No separate investments are made, and reserves continue to be held in various bank accounts in accordance with the Charity’s attitude towards risk. ## **d. Finances** Income in the year was £763,418 (2024: £780,439), Expenditure was £596,318 (2024: £874,424) reflecting the close monitoring of costs despite inflationary pressures. Exceptional Expenditure was £Nil (2024: £330,000 to ‘buy out’ the residual contractual rental lease on the Malting Building). ## **Structure, governance and management** ## **a. Constitution** City Praise Centre CIO is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission of England & Wales on 26 February 2016. The CIO is governed by its Constitution. ## **b. Methods of appointment or election of Trustees** The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. ## **c. Organisational structure and decision-making policies** The Trustees manage the Charity and meet regularly. As at the end of 2025, eight staff were employed the Pastor, Youth Pastor, Family Ministry Coordinator, AV Manager, Administrator, Receptionist, Cleaner and the Operations Manager. The Trustees delegate the day to day running of the Charity to the key management personnel – The Pastor and the Operations Manager. The remuneration of all staff is reviewed annually and is benchmarked against the relevant Joint Negotiation Council (JNC) pay scale, and with reference to AoG guidelines as required. The Elders are responsible for the spiritual leadership of the church, and they meet regularly. They jointly agree and deliver the vision, direction, beliefs and teaching of the Church in accordance with biblical standards. The Trustees’ and Elders’ boards constitute the Pastoral Committee of the Church. Page 7 **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Structure, governance and management (continued)** ## **d. Relationships with other charities and organisations** **City Praise Centre** : This is a dormant charity (registered charity number: 247709) through which the Church carried out its operations and held its assets prior to transferring these to City Praise Centre CIO (registered charity number: 1160677) on 1 January 2016. It is expected that the Charity will be de registered in due course. **Gravesham Sanctuary CIO** : The Charity is an independent charity (Charity number: 1181817). The church continues to have a good working relationship with this charity and members of CPC continue to provide volunteers and various support services to the charity. Sanctuary continued providing homeless people in the locality with daytime support and overnight shelter for up to 5 nights a week. **Street Pastors** : A nationwide charity (No. 1127204) that plays an active part in strengthening community life and working for safer streets. Currently, more than 300 towns and cities around the UK have a Street Pastors team. Some members of CPC are trained and volunteer to go out on a regular basis on the streets of Gravesend. **Trussell Trust (Food Bank)** : Another national charity we support (No. 1110052). Our members regularly donate large quantities of food and help run the foodbank in Riverside, Gravesend, which is open 4 days a week. The church provides a hub for collecting vouchers for this project in Gravesend. **Gravesham Churches Together** : A local network of churches that seek to work with each other to benefit the local community. They support some of the activities we run, such as Sanctuary, while we support activities such as Food Bank, which is managed by other churches in the area. Together, we believe we are making a difference to people of all faiths and beliefs living in the area. **Assemblies of God Incorporated (AoG GB)** : A nationwide charity (No. 1032245) that we are connected with financially and hold a voting stake in. AoG GB provides relational support, training, national leadership and resources to over 630 Pentecostal churches across the UK. **Overseas Mission Work** : We contribute to three foreign missions, namely in India, Albania and Mozambique. Our donations to Carmel Ministries in India and Reach Across (Frroku Albania Support) are sent through Stewardship who conduct all due diligence on the work of these foreign charities. Donations to Mozambique are sent directly to CAPRO Mozambique. Oversight is by a combination of annual mission visits, bi-annual and quarterly reports. ## **e. Financial risk management** The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems are in place to mitigate our exposure to the major risks. The major risk faced by the Charity is reputational which could arise from insufficient internal systems and controls, adverse publicity and non-compliance with legal and statutory regulations. These risks are mitigated through formulation of rigorous internal control systems, regular reviews, standardization of procedures and obtaining appropriate professional advice as required. As a church, our activities are primarily funded by donations and offerings linked to our Sunday services. We encourage giving by standing order and signing up for gift aid, to assist with long-term planning and building reserves. We do not envisage any other substantial income streams, but we continue to look at ways to ensure our assets can be better utilised to generate income without compromising our core activities and values. Page 8 **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Plans for future periods** In 2026, we expect to see growth resulting from our additional investment in youth, and greater integration with the support structures of AoG GB. The increased value of our rental property will enable further site-wide developments to take place. There are plans to open a contact centre to support safe contact between parents and children who are subject to court proceedings. This builds on our commitment to be integrated into the local community and cater for their needs. We will continue to deepen our ongoing involvement with AoG GB, through regional youth events, ministerial training, hosting Area Days, in addition to staff and members of the church leadership attending and networking at the AoG annual National Conference, and the development of closer relational bonds between ministers and churches. Lastly, we intend to undertake a detailed survey of the gifts and abilities of our congregation to better identify and access specific skills as needed. ## **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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 . 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 of information to auditors** Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that: - so far as that Trustee is aware, there is no relevant audit information of which the Charity's auditors are unaware, and - that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the Charity's auditors are aware of that information. Page 9 ## **City Praise Centre CIO** ## **Trustees' Report (continued) For the Year Ended 31 December 2025** ## **Auditors** The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025. The auditors, Kreston Reeves Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: **Olayinka Tomori** Trustee Date: 29 June 2026 Page 10 **City Praise Centre CIO** ## **Independent Auditors' Report to the Members of City Praise Centre CIO** ## **Opinion** We have audited the financial statements of City Praise Centre CIO (the 'charity') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the Charity's affairs as at 31 December 2025 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 twelve 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. Page 11 **City Praise Centre CIO** ## **Independent Auditors' Report to the Members of City Praise Centre CIO (continued)** ## **Other information** The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements 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 - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements which 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. Page 12 **City Praise Centre CIO** ## **Independent Auditors' Report to the Members of City Praise Centre CIO (continued)** ## **Auditors' 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 Auditors' 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. 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: ## _Capability of the audit in detecting irregularities, including fraud_ The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Based on our understanding of the Charity and sector, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and the Statement of Recommended Practice. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. 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 related to management bias in accounting estimates and judgemental areas of the financial statements such as estimated useful economic lives and residual values of tangible fixed assets. Audit procedures performed by the audit engagement team included: - Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and - Assessment of identified fraud risk factors; and - Review of cash expenditure to confirm no evidence of personal benefit; and - Challenging assumptions and judgements made by management in its significant accounting estimates; and - Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and - Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and - Reading minutes of meetings of those charged with governance; and - Performing analytical procedures with automated data analytics tools to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and - Physical inspection of tangible assets susceptible to fraud or irregularity; and - Review of significant and unusual transactions; and - Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation. Page 13 **City Praise Centre CIO** ## **Independent Auditors' Report to the Members of City Praise Centre CIO (continued)** Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charity's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. - Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' Report. However, future events or conditions may cause the charity to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **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 we are required to state to them in an Auditors' 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 its Trustees, as a body, for our audit work, for this report, or for the opinions we have formed. ## **Kreston Reeves Audit LLP** Chatham Maritime Date: 1 July 2026 Kreston Reeves Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 14 **City Praise Centre CIO** ## **Statement of financial activities For the Year Ended 31 December 2025** |**Note**
**Income from:**
Donations and legacies
4
Other trading activities
5
Investments
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2025**
**£**
**11,598**
**1,828**
**-**
**13,426**
**27,250**
**27,250**
**(13,824)**
**(1,122)**
**(14,946)**
**369,342**
**(14,946)**
**354,396**|**Unrestricted**
**funds**
**2025**
**£**
**713,785**
**32,019**
**4,188**
**749,992**
**569,068**
**569,068**
**180,924**
**1,122**
**182,046**
**849,707**
**182,046**
**1,031,753**|**Total**
**funds**
**2025**
**£**
**725,383**
**33,847**
**4,188**
**763,418**
**596,318**
**596,318**
**167,100**
**-**
**167,100**
**1,219,049**
**167,100**
**1,386,149**|Total
funds
2024
£
717,436
43,690
19,313| |---|---|---|---|---| |||||780,439
874,424| |||||874,424
(93,985)
-| |||||(93,985)
1,313,034
(93,985)| |||||1,219,049| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 18 to 34 form part of these financial statements. Page 15 **City Praise Centre CIO** ## **Balance Sheet As at 31 December 2025** |**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Investments
12
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
13
**Net current assets**
Creditors: amounts falling due after more
than one year
14
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**35,106**
**85,000**
**325,162**
**445,268**
**(94,461)**|**2025**
**£**
**1,866,942**
**350,807**
**(831,600)**
**1,386,149**
**354,396**
**1,031,753**
**1,386,149**|35,550
-
383,135
418,685
(41,076)|2024
£
1,917,674
377,609
(1,076,234)| |---|---|---|---|---| |||||1,219,049
369,342
849,707| |||||1,219,049| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: **O Tomori** Trustee Date: 29 June 2026 The notes on pages 18 to 34 form part of these financial statements. Page 16 ## **City Praise Centre CIO** |**Statement of Cash Flows**
**For the Year Ended 31 December 2025**
**Cash flows from operating activities**
Net cash used in operating activities (Note 18)
**Cash flows from investing activities**
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Cash inflows from new borrowing
Repayments of borrowing
**Net cash (used in)/provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year (Note 19)**
The notes on pages 18 to 34 form part of these financial statements|**2025**
**£**
**214,991**
**1,386**
**(5,516)**
**(4,130)**
**-**
**(183,834)**
**(183,834)**
**27,027**
**383,135**
**410,162**|2024
£
485,216
-
(1,481,796)| |---|---|---| |||**(1,481,796)**
1,300,000
(210,214)| |||**1,089,786**
**93,206**
289,929| |||383,135| Page 17 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **1. General information** City Praise Centre CIO is a charitable incorporated organisation and an exempt charity incorporated in England and Wales. The registered office is 9 - 11 Lower Higham Road, Chalk, Kent, DA12 2LY. The principal activities of the Charity are: to proclaim the good news of Jesus Christ; to advance the Christian faith; and to prevent or relieve poverty. The financial statements are presented to the nearest £. ## **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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. City Praise Centre CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page 18 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **2. Accounting policies (continued)** ## **2.4 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank. ## **2.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. ## **2.6 Going concern** The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.7 Operating leases** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. Page 19 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **2. Accounting policies (continued)** ## **2.8 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives on the following bases: |Freehold property|- 2% straight line| |---|---| |Fixtures and fittings|- 25% straight line| |Property improvements|- 10% straight line| ## **2.9 Taxation** The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **2.10 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.11 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.12 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. Page 20 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **2. Accounting policies (continued)** ## **2.13 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2.14 Pensions** The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. ## **3. Critical accounting estimates and areas of judgement** Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. ## Critical areas of judgement: The charity has recognised tangible fixed assets with a carrying value of £1,866,942 (see note 10). These assets are stated at their cost less provision for depreciation and impairment. The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and the residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utillisation and the physical conditions of the assets. ## **4. Income from donations and legacies** |Donations and Gift Aid
Total 2024|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
**11,598**
**713,785**
10,507
706,929|**Total**
**funds**
**2025**
**£**
**725,383**
717,436|Total
funds
2024
£
717,436| |---|---|---|---| ||||| Page 21 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **5. Income from other trading activities** |Fundraising
Church Manse and Hire of Premises
Total 2024|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
**1,828**
**5,794**
**-**
**26,225**
**1,828**
**32,019**
1,804
41,886|**Total**
**funds**
**2025**
**£**
**7,622**
**26,225**
**33,847**
43,690|Total
funds
2024
£
13,040
30,650| |---|---|---|---| ||||43,690| ||||| ## **6. Analysis of expenditure on charitable activities** ## **Summary by fund type** |Charitable activities
Total 2024|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
**27,250**
**569,068**
21,559
852,865|**Total**
**2025**
**£**
**596,318**
874,424|Total
2024
£
874,424| |---|---|---|---| ||||| Page 22 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **7. Analysis of expenditure by activities** |**Direct**
**costs**
**2025**
**£**
Charitable activities
**543,957**
Total 2024
836,183
Analysis of direct costs
Team Hosting
CPC Campus
Pulpit / Hospitality
Office Expenses
Ministry
Membership
Maturity
Magnification
Occasional Activities
Office Development
Transforming Lives for Good (TLG)
Lease Premium on Malting Property
Staff Costs
Employer's NI
Employer's Pension
Depreciation
Total 2024|**Mission**
**activities**
**2025**
**Support**
**costs**
**2025**
**£**
**£**
**42,701**
**9,660**
28,641
9,600
**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
**-**
**1,788**
**-**
**69,893**
**-**
**1,391**
**-**
**14,345**
**-**
**15,677**
**-**
**3,037**
**-**
**30,670**
**-**
**24,394**
**-**
**24,068**
**-**
**112,851**
**-**
**-**
**-**
**-**
**-**
**175,519**
**-**
**8,423**
**-**
**7,441**
**11,604**
**44,644**
**11,604**
**534,141**
11,472
461,379|**Total**
**funds**
**2025**
**£**
**596,318**
874,424
**Total**
**funds**
**2025**
**£**
**1,788**
**69,893**
**1,391**
**14,345**
**15,677**
**3,037**
**30,670**
**24,394**
**24,068**
**112,851**
**-**
**-**
**175,519**
**8,423**
**7,441**
**56,248**
**545,745**
472,851|Total
funds
2024
£
874,424
Total
funds
2024
£
-
21,471
926
11,725
8,145
11,028
32,185
25,411
23,971
124,705
1,011
330,000
168,629
13,747
7,403
55,826| |---|---|---|---| ||||836,183| Page 23 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **Mission activities** |Missions activities in conjunction with other
institutions
Mission activities with individuals
Missions activities - other
Total 2024
**Support and governance costs**
Auditor's remuneration
Total 2024|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**Total**
**funds**
**2025**
**£**
**£**
**£**
**-**
**20,252**
**20,252**
**15,359**
**6,803**
**22,162**
**287**
**-**
**287**
**15,646**
**27,055**
**42,701**
12,492
16,149
28,641
**Unrestricted**
**funds**
**2025**
**£**
**9,660**
9,600|Total
funds
2024
£
2,209
26,193
239| |---|---|---| |||28,641
**Total**
**funds**
**2025**
**£**
**9,660**
9,600| Page 24 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **8. Staff costs** |Wages and salaries
Social security costs
Pension costs|**2025**
**£**
**175,519**
**8,423**
**7,441**
**191,383**|2024
£
168,629
13,747
7,403| |---|---|---| |||| |||189,779| The average number of persons employed by the Charity during the year was as follows: The average headcount expressed as full-time equivalents was: |**2025**
**No.**
**7**
**2025**
**No.**
**6**|2024
No.
8| |---|---| ||2024
No.
6| No employee received remuneration amounting to more than £60,000 in either year. The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the Charity was £80,884 (2024 - £75,581). ## **9. Trustees' remuneration and expenses** During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the Charity. The value of Trustees' remuneration and other benefits was as follows: |||**2025**|2024| |---|---|---|---| |||**£**|£| |Mr Graeme Baldwin|Remuneration|**44,140**|42,795| ||Pension contributions paid|**2,207**|2,140| During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 25 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **10. Tangible fixed assets** |**Cost**
At 1 January 2025
Additions
Disposals
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
On disposals
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Freehold**
**property**
**£**
**2,144,608**
**5,516**
**-**
**2,150,124**
**267,358**
**39,665**
**-**
**307,023**
**1,843,101**
1,877,250|**Leasehold**
**property**
**imprs**
**£**
**55,910**
**-**
**-**
**55,910**
**36,145**
**5,603**
**-**
**41,748**
**14,162**
19,765|**Fixtures and**
**fittings**
**£**
**86,766**
**-**
**(12,124)**
**74,642**
**66,107**
**9,594**
**(10,738)**
**64,963**
**9,679**
20,659|**Total**
**£**
**2,287,284**
**5,516**
**(12,124)**
**2,280,676**
**369,610**
**54,862**
**(10,738)**
**413,734**
**1,866,942**
1,917,674| |---|---|---|---|---| Page 26 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **11. Debtors** |**Due within one year**
Other debtors
Prepayments and accrued income
**Current asset investments**
Unlisted investments|**2025**
**£**
**2,388**
**32,718**
**35,106**
**2025**
**£**
**85,000**|2024
£
4,441
31,109| |---|---|---| |||| |||35,550| |||2024
£
-| ## **12. Current asset investments** Page 27 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **13. Creditors: Amounts falling due within one year** |Bank loans
Other taxation and social security
Other creditors
Accruals and deferred income
**Deferred income**
Deferred income at 1 January 2024
Resources deferred during the year
Amounts released from previous years
**Deferred income at 31 December 2024**
**14.**
**Creditors: Amounts falling due after more than one year**
Bank loans|**2025**
**£**
**74,352**
**4,186**
**-**
**15,923**
**94,461**
**2025**
**£**
**991**
**-**
**(991)**
**-**
**2025**
**£**
**831,600**|2024
£
13,552
3,066
727
23,731
41,076
2024
£
472
991
(472)
991
2024
£
1,076,234| |---|---|---| In March 2024, the Charity entered a 25 year loan agreement of £1.30m with Reliance Bank Ltd to assist it in the purchase of the freehold of the Maltings Building, at an interest rate of Bank of England Base Rate plus 2.75% per annum. The loan is secured on the Maltings and the Charities other freehold interest on 7 Lower Higham Road and 9-11 Lower Higham Road. The balance on the Loan at 31 December 2025 is £905,952. Page 28 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **15. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
**Designated funds**
Fixed Assets Fund
**General funds**
General Funds
**Total Unrestricted funds**
**Restricted funds**
Endowed Property Fund
With Love Fund
Mission India Fund
Mission Mozambique
**Total of funds**|**Balance at 1**
**January**
**2025**
**£**
**478,248**
**371,459**
**849,707**
**362,882**
**6,460**
**-**
**-**
**369,342**
**1,219,049**|**Income**
**£**
**-**
**749,992**
**749,992**
**-**
**1,828**
**9,017**
**2,581**
**13,426**
**763,418**|**Expenditure**
**£**
**(44,644)**
**(524,424)**
**(569,068)**
**(11,604)**
**(3,605)**
**(10,033)**
**(2,008)**
**(27,250)**
**(596,318)**|**Transfers**
**in/out**
**£**
**178,645**
**(177,523)**
**1,122**
**(2,537)**
**399**
**1,016**
**-**
**(1,122)**
**-**|**Balance at**
**31**
**December**
**2025**
**£**
**612,249**
**419,504**
**1,031,753**
**348,741**
**5,082**
**-**
**573**| |---|---|---|---|---|---| ||||||**354,396**
**1,386,149**| Page 29 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **15. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
**Designated funds**
Fixed Assets Fund
**General funds**
General Funds
**Total Unrestricted funds**
**Restricted funds**
Endowed Property Fund
With Love Fund
Mission India Fund
**Total of funds**|Balance at
1 January
2024
£
132,997
815,890
948,887
358,707
5,440
-
364,147
1,313,034|Income
£
-
748,815
748,815
-
1,804
10,507
12,311
761,126|Expenditure
£
(46,759)
(786,793)
(833,552)
(9,067)
(697)
(11,795)
(21,559)
(855,111)|Transfers
in/out
£
392,010
(406,453)
(14,443)
13,242
(87)
1,288
14,443
-|Balance at
31
December
2024
£
478,248
371,459
849,707
362,882
6,460
-| |---|---|---|---|---|---| ||||||369,342
1,219,049| Page 30 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **Designated Funds** Fixed Assets Fund - This fund represents the net book value of the Charity's remaining fixed assets less the outstanding mortgage on the Maltings poperty. ## **Restricted Funds** Endowed Property Fund - These funds represent the net book value of the Charity's main premises at 9 - 11 Lower Higham Road, which is held as a permanent endowment. Depreciation is charged to this fund in accordance with the method identified within note 2.9 to the financial statements. With Love Fund - These are funds which have been collected in order to assist the poor and disadvantaged in our community. Mission India Fund - This fund was established to provide financial and missionary support to Christian Ministries in India, especially Carmel Ministries in Eluru, India. Mission Mozambique Fund - This fund was established to provide financial and missionary support to advance the Christian gospel ministry in Mozambique. ## **16. Summary of funds** ## **Summary of funds - current year** |Designated funds
General funds
Restricted funds|**Balance at 1**
**January**
**2025**
**£**
**478,248**
**371,459**
**369,342**
**1,219,049**|**Income**
**£**
**-**
**749,992**
**13,426**
**763,418**|**Expenditure**
**£**
**(44,644)**
**(524,424)**
**(27,250)**
**(596,318)**|**Transfers**
**in/out**
**£**
**178,645**
**(177,523)**
**(1,122)**
**-**|**Balance at**
**31**
**December**
**2025**
**£**
**612,249**
**419,504**
**354,396**| |---|---|---|---|---|---| ||||||**1,386,149**| ## **Summary of funds - prior year** |Designated funds
General funds
Restricted funds|Balance at
1 January
2024
£
132,997
815,890
364,147
1,313,034|Income
£
-
748,815
12,311
761,126|Expenditure
£
(46,759)
(786,793)
(21,559)
(855,111)|Transfers
in/out
£
392,010
(406,453)
14,443
-|Balance at
31
December
2024
£
478,248
371,459
369,342| |---|---|---|---|---|---| ||||||1,219,049| Page 31 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **17. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**
**Analysis of net assets between funds - prior year**
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
**348,741**
**1,518,201**
**5,655**
**439,613**
**-**
**(94,461)**
**-**
**(831,600)**
**354,396**
**1,031,753**
Restricted
funds
2024
Unrestricted
funds
2024
£
£
369,342
1,548,332
-
418,685
-
(41,076)
-
(1,076,234)
369,342
849,707|**Total**
**funds**
**2025**
**£**
**1,866,942**
**445,268**
**(94,461)**
**(831,600)**
**1,386,149**
Total
funds
2024
£
1,917,674
418,685
(41,076)
(1,076,234)
1,219,049| |---|---|---| ## **18. Reconciliation of net movement in funds to net cash flow from operating activities** |Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Decrease/(Increase) in debtors
Increase/(Decrease) in creditors
**Net cash provided by operating activities**|**2025**
**£**
**167,100**
**54,862**
**444**
**(7,415)**
**214,991**|2024
£
(93,985)
55,826
510,087
13,288
485,216| |---|---|---| Page 32 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** |**19.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**20.**
**Analysis of changes in net debt**
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Liquid investments|**At 1**
**January**
**2025**
**£**
**383,135**
**(13,552)**
**(1,076,234)**
**-**
**(706,651)**|**2025**
**£**
**410,162**
**410,162**
**Cash flows**
**£**
**27,027**
**(60,800)**
**244,634**
**-**
**210,861**|2024
£
383,135
383,135
**At 31**
**December**
**2025**
**£**
**410,162**
**(74,352)**
**(831,600)**
**-**
**(495,790)**| |---|---|---|---| Page 33 **City Praise Centre CIO** ## **Notes to the Financial Statements For the Year Ended 31 December 2025** ## **21. 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. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £7,441 (2024 - £7,043). At the Balance sheet date there were contributions outstanding amounting to £Nil (2024 - £Nil). ## **22. Related party transactions** During the financial year the Trustees made cumulative donations to the Charity amounting to £27,244 (2024 - £27,124). During the financial year the Trustees family members made cumulative donations to the Charity amounting to £207,988 (2024 - £215,352). M Bourne, sister of R Lindsay, Trustee, is employed by the Charity. M Bourne’s appointment was made before R Lindsay was appointed as a Trustee and therefore she was not involved in the decision-making process regarding appointment. M Bourne is paid within the normal pay scale for her role and receives no special treatment as a result of her relationship to R Lindsay. Page 34