THE ETHIOPIAN CHRISTIAN FELLOWSHIP {UKI (A charitable Company limited by guarantee) REGISTERED CHARITY NUMBER.. 1163673 COMPANY REGISTRATTION NUMBER.. 9653290 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Report ol the Trustees for the Year Ended 31 March 2025 Contents Page Report of the Trustees 2107 Report of the Independent Examiner Slalemenl of Financial Activities Balance Sheet 10 Notes forming part of the financial statements 1110 17 Page l of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Report ol the Trustees lor the Year Ended 31 March 2025 The Iruslees, who are also directors of the charity for the purposes of the Companies Act 2006, present their annual report with the financial slalemenls ol the charity for the Yeai Ended 31 March 2025. The charity is referred to as 'The Ethiopian Christs'an Fellowship IUKI or ECFC. The financial statements have been prepared in accordance with the accounting policies sel out in n(>le 110 the financial slalemenls and comply with the Charities Act 2011 and 'Accounling and Reporting by Charities: Statement of Recommended Practice applicab to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, las amended for accounting periods commencing 1 January 20161. REFERENCE AND ADMINISTRATIVE INFORMATION Charity Name: The Ethiopian Christian Fellowship (UK) OT ECFC Registered Charity Number 1163763 Regisiergd Company Number 9653290 Prlnclpal address 178 King's Cross Road London WC1X9DE TrusteeslDire¢tors G Wolde Yohannes L Kidane R Roma M Asfaw Z Abegaz A Seyoum-zerfe A Shiferaw Ichairl Isecretaryl IRelired March 20251 IRelired March 20251 Independent Exami[ Emmanuel Ernest & Co Chartered Certified AcGountants & Business Advisors 92 Cranbrook Road London SE8 4EJ Bankers National Weslminsler Bank PIC Tavislock Square Branch Tavislock House Tavislock Square London WC1H 9JA Page2 of 17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Report ol the Trustees - conlirlued lor the Year ErKled 31 March 2025 GOVERNING DOCUMENT The charity is a company limited by guarantee and incorporated on 23 June 2015 and registered as a charity on 27 September 2015. Th8 company is estsblished under a Memorandum of Association which established the objectives and ptswers of the charitable company and is govemed under its Articles of Association. In the event of the company being wound up, the subscriber members are required lo coniribule an amount not exceeding £1 each towards the payrnenl of liabilities the charitable company incurs. THE PRINCIPAL ACTNITIES.. a. POLICIES AND OBJECTIVES The principal objects ol The Ethiopian Christian Fellowship IUKI are the advancement of the Christian faith woddwide and education advancement of the members as well as providing help lo the aged, poor, sick homeless and disabled. b. STRATEGIES FOR ACHIEVING OBJECTIVES The charity has adopted the ftsllowing strategies for achieving the above objectives.. establishment of a church within the UK- organisalion of conferences and events with relevanl speakers and ministers of the faith lo guide and inspire., adminislrats've support for likeminded Charities and Christian events,. and financial support for like-minded Charities and Mission Agenaes in the UK and overseas. c. ACTIVITIES FOR ACHIEVING OBJECTIVES We carry out various missionary activities such as.. Community outreach Provision of resources to support and collaboration with other similar independent ChuheS in the UK and Overseas Organising, supporting arld resourcing local and global Christian mission as well as other positive charitable initiatives, including the organisalion of Conferences, Events and Training which are sel to act as a pivotal calalysl to the advancement ol Christian faith. Prowsion of welfare support lo members. d. PUBLIC BENEFIT STATEMENT The Board of Trustees confirm that they have mel their duties in strict compliance with the provisions of section 4 and 17 of the Charities A¢1 2011, and have had due regards to the Charity Commission's general guidance on public benefit. Particular Consideration has been given lo the Charity Commission's supplementary public guidance provisions on the advancement of religion for the public knefil. PERFORMANCE AND ACHIPIEMENTS Throughout the year. as church community we have engaged in various activits'es io fulfil our objectives, including.. Sunday Setvices.. This year Sunday service attendance averaged al 250 members and wsilors. In addition, 1000 people attend online services each Sunday. As a church we continue lo have special conferences over the year including Easter conference held during Holy Week, annual summer conference and New Year crossover conference. Guest speakers and ministers are invited lo these conferences and attra¢l a large number of allendees from across London and the surrounding area. Home Bible Study groups.. continue lo meet weekty for organised Bible study and prayer session, both virtually and in-person, across various homes and locations around London Children's Ministry.. continue lo provide specific programs for children lo nurture their spiriiual groth, including Sunday School and days out during school holidays. Sunday school ministy continues lo grow and thrive wlh attendance averaging 120 per Sunday. Page3 of17
THE ETHIOPIAN CHRISTEAN FELLOWSHIP IUKI Report of the Trustees- continued for the Year Ended 31 March 2025 Youth Ministry.. continues lo be a strong and vibrant departhenl within the church. On average over 75 young people attend the services each Sunday, this number increases during holidays. Youth mid-week virtual Bible study has ctsnlinued throughout the year. Several youth socials are held throughout the year including weekend retreats and camping. Community Outreach.. we ctsnlinue lo engage in outreach programs aimed al supporting the local horneless community around King's Cros5 by opening our doors and making food, showers, and clothes available for those who need it. So lar, we have attracted a good number from the targeted people attending this programme. We vill liaise with the local Social Services lo continue with this programme in a larye scale for the coming years. We have also been working with Ethiopian and Eritrean itntnigranls and refugees in the UK. This includes the provision of counselling and social support to disadvantaged members of this communty regardless of religious persuasion, sexual orienlalion, gender, or ethnic background. Our outreach wo¥k has alliacled a good number from the various target groups. Going fc>rward this wll require expanding and slrenglhening by liaising with other similar charities and local government organisalions lo continue with this programme for the coming years. Charitable Support.. we continue to support charilable inilialives in Ethiopia and Eritrea, including providing relief lo the poor, sick, disabled, homeless, orphans, and disadvantaged through contributions lo compassionate causes and supporting victs'ms of natural. VOLUNTEERS ECFC is grateful for unreserved efforts of ils metllbers who voluntsrily are involved in semce provision. The vast majority of the members volunteer their skills and b'me to provide diverse services regularly investing innumerable hours and unquantifiable efforts.11 is estimated that over I,0 volunteer hours were provided during the year. If this is conservab'voly valued al £10 an hour (living wage). the vdunleer effort amounts lo over £10,000. INVESTMENT POLICY AND PERFORMANCE As far as possible, funds will be retained in interest bearing accounts. The Board of Trustees would explore safe investment strategies lo ensure better relums. FINANCIAL REVIEW The charity's total incotlle was £320,682 and was in line with expectation. The lolal charitable expenditure was £222,405. Nel income over expenditure was £98,277. RESERVE POLICY The Board ol Trustees have established a policy whereby the unrestricted funds not committed or invested by the charitable company should be 3 and 6 rnonlhs of annual expenditure. Al this level, the Board of Trustees holds the view that they would be able lo continue the current aGlivilies of the charitable company in the event of a significant drop in funding. The Board of Trustees periodically reviews its reserve policy lo be in the light of the wider strategic future plans. This is lo ensure thalthe level ol the reserve we hold are not only appropriate to our current position and annual expenditure bul also taking into full cognisance what our lulure strategic plans are. Page4 of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Repott of the Tru51ees - continLJed for the Year Ended 31 March 2025 PRINCIPAL FUNDING This is provided mainly through contributions and donations from members. STRUCTURE. GOVERNANCE AND MANAGEMENT ORGANISATION STRUCTURE ECFC currently has a Trustees Board who meet on a quartedy basis and are restx)nsible for the strategic direclK)n and policy of the charty. METHOD OF APPOINTMENT OR ELECTION OF BOARD OF TRUSTEES The management of the Charitable company is the iesponsibility ol the Board of Tiuslees who are appointment and Coryoptsd under the terms of the Artic5 ol Association. The directors of the company are also charty Iruslees for the purpose of charity law. Under the requirement of the Memorandum and Article of Association the members ol the Iruslees are elected lo serve for a term ol three years after which they musl be rethelected al the next Annual General Meeting. SCHEME OF DELEGATION.. Day lo day responsibility lor the day-to4ay management of the implemenlalion of strategy approved by the Trustees Board in particular the spiritual side of ECFC'S operation is delegated lo the Elders, Board, whose members are elected by the members ol ECFC. The Elders Board reports lo the Trustees, Board on a half yearty basis. There is a part.ts'me Adtllinistrator, who manages the day-to.day administral'on. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF BOARD OF TRUSTEES Newly appointed Iruslees are provided with a Trus18eship pack outlining the role and responsibilities of the Trustees and ECFC'S working slruclure. The induction process lor a nevAy elected member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Elders and the Pasltsrs as well as encouraging the new Iruslees lo attend a series of short training session by a professional on Irusleeship powers and responsibilities. A Trustees Induction Pack is provided to the Trustees, which includes the charitable company s goveming docutllenls, excerpts from the Charity Commission Guidelines such as Dac CC3 and Cl. i.e., the Essential Trustee.. what you need lo Know and the Trustees Expenses and Payment periodically, the trustees will be registered lo different training events, conferen$ and seminars lo further enhance their govemance skills. This wll enable strict cornpliance to relevant regulations and enhance the safety of the trust bestowed on them by the public. The Trustees are constandy updated wlh resourTrs containing articles written by various experts in the charity sector. These articles cover areas such as Board meetings, adequate record keeping and managem8nl ofthe charitable company s assets. PAY POLICY FOR SENIOR STAFF The Imslees consider the board of Iruslees, the board of elders, the finance manager and the administrator as comprising the key management personnel (senior staffj of the charity in charge of directing and controlling the charitable company and running and operating the charitable company on a day-lo-day basis. All trustees and elders and the finance manager give their time Ireety and no remuneration was paid in the year. Details of Iruslee expenses and related paty transactions are disclosed in notes 7 to the finanoal statement Trustees are required to disclose all relevant interest and register them with the adrninislralor. In accordance with the Trust's policy, the trustee withdraws from the deci&on where a conflict of interest arises. Page5of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Report of the Trustees- conlinLJed for the Year Ended 31 March 2025 RISK MANAGEMENT The Trustees have assumed a default risk evaluation approach lo identify and assess risk, then develop strategies by which rt can be managed. This default approach is generically laibred lo spotting the risks. assessing the risks and solving the risks. The Trustees are satisfied that the systems in place are sufficient lo miligale ils exposure lo major nsks and swiftly assimilate the significance of new risks. The Trustees have IherefDre assessed the major risks lo which th8 charity is exposed, in particular those rekling lo the specific operational areas of the charity and ils finances. The Trustees believe that by monitoring reserve levels, ensuring controls exist over key financial systems and by examining the operational and bLJsiness risks faced by the charity, they have established effective systems to mittgale those risks. FUTURE DEVELOPMENTS The charity plans continuing the activities outlined above in the forthcoming years. Plans are also being developed to work on a number of schemes with local churches and charitable cirganisalions for spreading the Gospel and heSping the local community including training projects on mentoring schemes which il is hoped will lead lo long-lemi community outreach. PENSION FUND ECFC operates a Defined Contribution Pension Scherne for ils staff. The scheme is available lo all staff who wishes lo join. The employer and employee contribution lo the scheme is 7 10 and 3.10 respectively ol employee's gross salary. During the year the employer contribution was £996. PERSONS WITH SIGNIFICANT CONTROL REGISTER Further lo the provisions ol Part 21A ol the Cornpanies Act 2006 relating lo individuals with significant control over the Chanlable Company andlor relevant legal enlib'es IRLEsl with significant control. The Charitable Company knDWS or has reasonable cause lo believe that there is no registrable person or registrable legal entity in relation lo the Mpany. Page6of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Report of the Trustees continued for the Year Ended 31 March 2025 RESPONSIBILITIES OF THE TRUSTEES DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER In so far as the trustees are aware.. there is no relevant information of which ECFC'S IndepeIen1 Examiner are unaware., and As the Ituslees of the charity, we have taken all steps they ought lo have taken lo make them aware of any relevant information and to establish that the Independent Examiner are aware of that information. RESPONSOBILITIES OF TRUSTEES The law applicable lo charities in England and Wales, the Charities Act 2011, Charity IAccounls and Reportsl Regulab'ons 2008 and the provisions of the Injsl deed requires the trustees lo prepare financial stalernenls for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resOUrs, including the income and expenditure of the charity lor that Year. In preparing those financial stalemenls, the Iruslees are required to select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent., prepare the financial slalemenls on the going concern basis unkss il is not appropriate to assume that the company will continue that basis. The Tnjstees are responsible lor maintaining proper accounting records which disclose with reasonable accuracy the financial position of the charity al any lime and lo enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They are alsc> responsible for safeguarding the assets of the charity and hence lor taking reasonable steps for the prevention and detection of fraud and other irregularities SMALL COMPANY PROVISON This report has been prepared in a¢¢ordance with the special provision for small companies under Part 15 of the Companies Act 2006. Approved by the Board of Trustees on 18 September 2025, and signed on its behalf by.. G Wolde Yohannes (Chair of Board of Trustee) Page7of17
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE ACCOUNTS OF THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI FOR THE YEAR ENDED 31 MARCH 2025 Respective responsibilities of trustees and examiner The Iruslees (who are also the directors ol the company for the purposes of company lawl are responsible for the preparation ol the coUnts in accordan Tmlh the requirements of the Companies Act 20061.lhe 2006 Acr'i. The charity's Iruslees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is lleeded. The charity's gross income exceeded £250,000 and l am qualified lo undertake the examination by being a qualffied Member ol The Chartered Association of Certified Accounlanls. 11 is my responsibility lo.. examine the accounts under section 145 01 the Act, lo follow the procedures laid down in the general DirectKJns given by the Charity Comrnission (under section 14515llbl of the Charities Act, and lo slate whether particular matters have come lo my attentn Basis of independent examiner's statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review ol the &counling records kept by the charity and a Gomparison ol Ihe &counts piesenled with those records. 11 also includes consideratn of any unusual items or discbsures in the accounts, and seeking explanations from the Iruslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a'lrue and lair, view and the report is limited lo those mallers sel out in the slalemenl below. Independent examlner's statement In connection with my examination, no material fflatters have corne lo my attention whlch gives me cause lo believe that in, any material reswl". accounting records were not kept in accordance with sectn 386 of the Companies Act 2006,. or . the accounts do not accord with such records,. or the accounts do not comply with ielevanl COL1n1Ing requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a'liue and fairf view which is not a matter consKlered as part of an independent examination,. Dr .Ihe accounts have not been prepared in acLordance with the Charities SORP IFRS1021. I have no concems and have come rosS no olkEr matters in conneclKJn with the examination lo which attention should be drawn in this report in order lo enab a proper understanding of the accounts lo be reached Emmanuel Oduro Aluah Emmanuel Ernest & Chartered Certified Account & Business Advisor 92 Cianbrook Roa, London SE8 4EJ Is Date: 18th September 2025 Pa¥e8of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Stalement of Financial Activities for the Year Ended 31 Mar¢h 2025 2Q25 Unrestri¢ted Funds 2024 Total Funds Notes Incoming resources Charitable adivities Other trading activities Invesltllent income Total Income 287,828 24,623 8,231 320,682 248,300 25,635 6,820 280,755 Resource$ expended Charitable activities.. Direct charitable activities Govemance expenditure Total expenditure 1218,9081 3,497 1222,4051 1226,0221 2,045 1228,0671 Net incomè {expenditure 98,277 52,688 Total funds brought lorward 01 April 2024 2,321,501 2.268,813 Total Funds carrièd foNiard AT 31 March 2025 12 2,419,778 2.321,501 The notes from pages 11 to 17 form part ol these financial statements Page9of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUK) Balance Sheet As At 31 March 2025 2025 Notes Unr•slri¢ted Funds 2024 Total Funds Fixed Assets Tangible assets 1,3,788 1,608,617 Current Assets Debtors.. amounts falling due within one year Cash at bank and in hand 10 59,364 42,222 800,144 859,508 675,363 717,585 Creditors.. amounts falling due within one year Net Current Assets 11 13,518) 14.7011 855,990 712,884 Nèt Assets 2,419,778 2,232,501 Funds.. Unrestricted funds General 12 2,419,778 2.321,501 Total Funds 2419778 2,321,501 The company was entiued lo exemption from audit under 5477 of the Companies Act 2006 reLaling to small companies. The members have not required the company lo obtsin an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect lo accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject lo the small companies, regime and in accordance wth FRS102 SORP. The financial slalemenls were approved by the Board of Trustees on 18 September 2025 and were signed on its behalf by.. G Wolde Yohannes - Chair L Kidane Secretary The notes from pages 1110 17 form part of these financial statements Page IOof17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Notes to the Financial Statements for the Year Ended 31 March 2025 1. ACCOUNTING POLICIES 1.1 Basis ol preparation of financial statements The financial statements have been prepared under the historical cost convention with items recognised al Cost or transaction value unless otherwise slated in the relevant nolelsl lo these accounts, and in aordanCe with Accounting and Reporting by Charities". Statement ol R8cofflmended Practice applicabl8 lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 las amended for accounting period commencing 1 January 20161- (Charities SORP IFRS10211, the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 10218nd the Companies Act 2006.. and the Charities Act 2011. The Ethiopian Chrisb'an Fellowship IUKI conslilutes a public benefrt entity as defined by FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stsled in the relevant accounting policy. 1.2 Changes of accounting policy The accounts present a true and fair view, and no changes have been rnade lo the accounting policies adopted in note. 1.3 Change to accounting estimates No changes lo accounting estimates have occurred in the reporting period. 1.4 Company status The charitable company is a company limited by guarantee. The members ol the company a the Board of Trustees named on page 2. In the event of the charitable company being wound up. the liability in respect of the guarantee is limited to £10 per member of the charitable company. 1.5 Fund aciX)unling General funds are unrestricted funds which are available for use atthe discretion ol the Board of Trustees in furtheiance of the general objectives of the charitable company and which have not been designated for other purposes. Where there are designated funds, il comprises unreslricled funds that have been sel aside by the Board of Trustees for purposes. The aim and use of designated individual fund is sel wl in the notes lo the financial slalemenls. Where there are reslricled funds, it would be funds which are lo be used in accordance with specific restriclK)ns imposed by donors or which have been raised by the charitable cotllpany for particular purposes. The costs ol raising and administering such funds ale charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes to the financial stslernenls. 1.6 Going concem The charity's forecast and projection show that Trustees have a reasonable expectation that the charity has adequate resources lo colllinue in operational exislence lor the foreseeable future. The Iruslees Consider that there are no tnalerial uncertainties about the charities ability lo conh'nue as a going concem. The charity thefore continues lo adopt the going concem basis in preparing its financial statements. Page 11 of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Notes lo the Financial Statements- continued for the Year Ended 31 March 2025 1.7 Incoming resources Income is recognised once the charitable company has entitlement to the incotlle, il is probable that the incom8 will be received, and the amount of income reTrivabk can be measured reliably. Income lax rectsverable in relab'on lo donations received under Grft Aid or deeds of covenanl is recognised al the lime of the donation. 1.8 Resources expended Expenditure recognised oncè there is a gaI or constrLJCtive oblgation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by adivity. The costs ol each acts'vity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shaied costs which contribute lo more than one activity and support wsls which are nDI attributable lo a single activity are apportioned beiween those activities on a basis consislenl wlh the use of resources. Central staff costs are allocated on the basis ol lime spent, and depreciation charges allocated on the portion of the asset's use. Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company. Governance costs are those incurred in connection with adminislralion of the charitable company and compliance with constitutional and stalulory requirernenls. Charitable activities and Governance costs are costs incurred on the church's operali()ns, including support costs and costs relating lo the govemance ol the church apportioned to charitsble aclivilies. 1.9 Tangible fixed assets and depreciation AJI assets costing more than £500 are capitalised if they can be used for more than one year. Tangible fixed assets are carried al cost. nel of depreciation and any provision for irnpairmenl. Depreciation is not charged on freehold land. DeprecialK)n is provided al rates calculated lo write off the Cost of fixed assets, less their eslimaled residual value. over their expected useful lives on the followng bases.. Freehold property Building irnprovements Fixtures, fittings, and equipment Musical Instruments - 2Yo on cost 1010 on cost 20¥0 on cost 1.10 Interest receivable Interest on funds held on deposit is included when receivab and the amount can be measured reliably by the charitable company, this is normally upon nolificalion of the interest paid or payable by the Bank. 1.11 Taxation As a registered charty. ECFC is exempl from tax on incorne and gains falling within section 505 of the Taxes Act 1988 or s256 ofthe Taxation ofchaigeablg Gains Act19921o the exlenl that these are applied lo its charitable objects. No lax charges have arisen in the Charty 1.12 Leasing and hire purchase Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where subslanlially all of the benefits and risks of ownership are assumed by thè charitable Page 12 of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Notes lo the Financial Slalements conb'nued for the Year Ended 31 March 2025 company. Obligations undersuch agreements are induded in creditors net of the ffinance char9e allocated lo future perh)ds. The finance element of the rental payment is charged to the Slalemenl of financial acts'vilies incorporating incorne and expenditure account so as lo produce a conslanl periodic rale of charge on the nel obligation outstanding in each period. 1.13 Debtots Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.14 Cash al Bank and in hand Cash al bank and in hand includes cash and short lem highly liquid investments with a short maturity of three months or less from the date of acquisition or opening ol the deposit or similar account. 1.15 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance Sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the setdemenl can be estimated reliably. Liabilities are recognised al the amount that the charitable company anticipates il will pay lo settle the debt 01 the amount il has received as advanced payments for the goods or services il musl provide. Provisions are measured al the best estimate of the amounts required to setue the obligab"on. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding ol the discount is recognised within interest payable and similar charges. 1.16 Financial instruments The charitable company 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 al their settlement value with the eXceptOn of bank loans which are subsequently measured al amorts'sed cost using the effective interest method. 1.17 Pensions The charitable company operates a d8fined contribution pension scheme, and the pension charge represents the arnounts payable by the charitable company lo the fund in respect of the year. 2. DONATIONS 2025 2024 Tithes and offerings Gift Aid 242.831 44.997 287,828 215,510 32,790 248,300 3. OTHER TRADING ACTIVITIES 2025 2024 Lelling income Other income 24623 21,000 4,635 25.635 24,623 Page 13 of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Notes lo the Financial Statements continued for the Year Ended 31 March 2025 4. INVESTMENT INCOME 2025 2024 Interest receivable 6.820 6.820 8,231 5. CHARITABLE ACTIVITIES 2Q25 2024 Dlrect charitable activities Basis of allocation Dlrect expenditure Wages and Salaries Social security costs Pension costs Rent and Hall hire Chiklren, Teens, atMI Adu Youth Donation & gifts Other ministry expenditures Staff costs Staff costs Staff costs Actual Actual Actual Actual Actual Actual Actual Actual Actual 27,834 2,586 1,948 19,638 17.182 6.377 1,447 21,057 3.859 7,890 io 3,287 113,115 26,837 1,879 16,382 31,657 3,100 3,897 13,028 5,805 10,652 Events and retreats Cleaning Travel Sundry expenses Sub total 10,993 124,294 Basis of allocation 2025 2024 Other support expenditure Wages and salaries Social security costs Pension costs Repair and maintenance Insurance and safely Bank charges Printing & stationery Postage, Telephone, faxes & internel Trade wasle collection fees Sundry expenses Depreciation Fixed assets wrile-offs Sub total Staff costs Staff costs Staff costs Actual Actual Actual Actual Actual Actual Actual Actual Actual 16,352 1,001 1,145 23,084 4,984 1477 855 1,367 735 4,326 51,565 2,399 109,290 15,876 18,297 4,672 1.160 1.190 3.332 425 1,895 52,834 936 101,728 Total Charitable expendlture 222,405 226,022 Page 14 of17
THE ETHIOPIAN CHWSTIAN FELLOWSHIP IUKI Notes lo the Financial Slalemenls- conlinued lor the Year Ended 31 March 2025 6. GOVERNANCE 2025 2024 Trustees. meeting costs Other Independent examiner's lees 295 1,702 1,500 295 1,750 3,497 2,045 7. TRUSTEES, REMUNERATION AND BENEFITS During the year, no 8oard cil Trustees received any remuneration. During the year, no Board ol Trustees received any benefits in kind. During the year, no member of the Board ol Trustees received reimbursement for travel expense. . STAFF COSTS 2025 2024 Wages and salaries Social security costa Pension costs 44,186 3,587 3,093 50.886 42,713 2,990 45,703 The aveiage rnonlhly number of employees during the Year was as follows.. 2025 2024 Pastoral staff Adminislralive staff None of the employees reiVed rernuneralion amounting 10 more than £60,(XJO. Page 15 of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Notes lo the Financial Statements- continued lor the Year Ended 31 March 2025 9. TANGIBLE FIXED ASSETS Freehold property Building improvement Fixtures, fittings, and equipment Musical equipment Total COST Additions in year Disposals 1,826,403 100,340 7.228 5,859 34,197 876 18,712} 1,968,168 6,735 18.7121 Al 31 March 2025 1,826,403 100,340 13,087 1966 191 DEPRECIATION Charge for year Disposal 292,220 36,528 30,204 12,496 3,804 2,147 33,323 393 18,7121 359,551 51,565 18,7121 Al 31 March 2025 328,748 42,700 5,951 25,005 402,404 NET BOOK VALUE At 31 March 2025 1,497 655 1,357 1,563 788 Al 31 March 2024 1,534,183 70,136 3,424 874 1.608,617 10. DEBTORS: AMOU1s FALUNG DUE WITHIN ONE YEAR 2025 2024 Prepayments Tax Receivable Other debtors 14,174 44,997 193 59,364 40,120 2,102 42,222 11. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Other creditors Accruals 570 2,948 3,S18 577 3,131 4,701 Page 16of17
THE ETHIOPIAN CHRISTIAN FELLOWSHIP IUKI Notes lo the Financial Sialements continued for the Year Ended 31 March 2025 12. STATEMENT OF FUNDS Brought Forward Income Expenditure Carrled Forward Unrestricted fvnds General fund 2,321,501 320,682 {222,4051 2,419,778 TOTAL FUNDS 2,321,501 320,655 223,706 2419778 13.ANALYSIS OF FUNDS 2025 2024 Unrestricted funds Unrestricted funds Tangible fixed assets Debtors Cash 81 bank 1,563,788 59,364 800,144 1,608,617 42,222 675,363 Creditors TOTAL FUNDS 3,518 2,419,778 4,701 2,321,501 14. PENSION COMMITMENT There are no pension commilmenls. The church operates a defined contribution scheme for its employees. The pension costs charge represents th8 contribution paid by ECFC to the fund and amounted to £3,093. The amount oulslanding al the end of the year was £NIL. 15. RELATED PARTY TRANSACTIONS There were no transactions with related parts'es. Page 17of17