## `CHRIST APOSTOLIC CHURCH` ## NEW TESTAMENT ASSEMBLY NORTH ENGLAND ``` (CACNTANE) ``` REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ## **Christ Apostolic Church New Testament Assembly North England** ## **Legal and Administrative Details** ## **For the year ended 31 December 2024** Status The organization is a registered Charity. Charity Number 1165002 Registered Office 39 Cecil Street, Worsley Manchester M28 3LE Management Board Pastor S.O. Oluwasola Trustee Pastor A.F. Olorunniyi Trustee Elder O S J Fayemi Trustee Mr. A.H. Oluwasola Trustee Bankers Barclays Bank Plc 12 Crofts Bank Road Urmston Manchester M41 0TS 2 ## **Christ Apostolic Church New Testament Assembly North England Report of the Management Board** ## **For the year ended 31 December 2024** Members of the Management Board, who are also the trustees under the charity law, present the Financial Statements for the year ended 31 December 2024. ## **Responsibility of the Management Board** Charity law requires the Management board as Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources including income and expenditure for the year ended. In preparing those financial statements which give a true and fair view, the Management Board should follow the best practice and: - select suitable accounting policies and then apply them consistently - make judgments and estimates that are reasonable and prudent - state whether applicable accounting standards 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 assume that the charity will continue on that basis The Management Board members is responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the law. The Management Board is 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. 3 Christ Apostolic Church New Testament Assembly North En%l#nd R¢port ofthe Management Board For the ie#r ended.11 December 2024 ManA%ement Iloard '1 hL MJndgyLmeni Ili)ard who S¢￿'¢d durinb> ihe year up lo the date of this rcExTrrt were ub follow l)ii%lc)r %.(). OlU￿a￿(}Ia l)a%lor A.l.' ()Ii)runni)'i l.'IdLr () % J I'il)L'mi Mr. A.1 l. ( )lU￿$1%￿la Chaimian MLmbLr MLmbLr MlM￿'r 'I'hL M¢ill(IgL'mLni Ili)iird d¥'lLgiilL.d thL. da). Ic) da), ()p¢raii()n L)f th¢ Chdril). lo Iho%L Ll)llLLrnS. I.'ILLli()n to thL ManagLmLnl 11()ard takLS plaLL al ihc A(IM b), full mL'inhL'r• ()l- IhL' L'hur¥h. MLinbLr% ()f thL. MiinagiLmLnl11()ard havc n() bLnLfiLial iniLrL'%t in ihL' C'hariiy. Appr(?VL'd by IhL ManiigL'mL'ni11()iird i)n and %ignL'd c)n il% bLhdll' by:" l)ii%l(Ir %. (). ()luwasola L'hairman )a%lor A -l-ruslce ()lorunniyi l)iilL. l)alc.. ## **Christ Apostolic Church New Testament Assembly North England** ## **Balance sheet as at 31 December 2024** **2024 2023 £ £ Current Assets** Cash at Bank and in Hand 790.60 860.20 Cash at hand Project (Secured) --- --- **Creditors** Unsecured Loan 17,071.05 31,250.00 Total Income 130,040.60 151,430.40 Total Expenditure 131,501.40 152,990.85 Total Balance **-16,280.45 -30,389.80** 5 ## **Christ Apostolic Church New Testament Assembly North England** ## **Statement of Financial Activities (Including Income and Expenditure Account)** **For the year ended 31 December 2024 1. Incoming Resources 2024 2023** Restricted Unrestricted Total Total Donations and Grants **£ £ £ £** D O Covenant (Tithe) Manchester --- 12,675.00 12,675.00 14,585.00 D O Covenant (Tithe) Leeds --- 8,040.30 8,040.30 7,220.00 Offering and Thanksgiving Manchester --- 7,830.60 7,830.60 7,234.10 Offering and Thanksgiving Leeds --- 5,125.60 5,125.60 4,865.00 Building Fund --- 4,643.80 4,643.80 6,438.00 Gift from other Charities --- 1,560.70 1,560.70 1,230.20 Personal Gifts/ Donations --- 1,400.00 1,400.00 1,000.00 Church Anniversaries --- 2,910.00 2,910.00 2,735.00 Mission Support 48,200.00 --- 48,200.00 63,100.00 Mercy Once More 9,084.00 --- 9,084.00 9,155.00 Gift Aid Repayment --- --- --- --Revival/Vows --- 2,730.40 2,730.40 2,618.10 Loan (Unsecured) --- 27,840.00 27,840.00 31,250.00 **Total Incoming Resources 57,284.00 72,756.60 130,040.60 151,430.40** 6 ## **Christ Apostolic Church New Testament Assembly North England** ## **Statement of Financial Activities (Including Income and Expenditure Account)** ## **For the year ended 31 December 2024** ## **2. Expenditure** **Basis of Manchester Leeds 2024 2023 Allocation Branch Branch Total Total Costs directly allocate to activities: £ £ £ £** **Support costs directly allocate to activities:** Wages Allowances 32,000.00 --- 32,000.00 64,500.00 Employer’s N.I. Allowances 6,260.00 --- 6,260.00 6,460.00 Transportations Allowances 470.00 350.50 720.50 1,240.00 Printing & Postage Services 240.50 105.40 345.90 525.90 Mobile Phones Services 600.00 --- 600.00 800.00 Bank Charges Transactions 73.00 --- 73.00 108.00 General Expenses Services 345.00 --- 345.00 625.00 **112,278.65 19,222.75 131,501.40 152,990.85** 7 ## **3. Staff Cost and Numbers** Staff costs were as follows: **2024 2023 £ £** Salaries and Wages 32,000 64,500.00 National Insurance 0.00 0.00 Employers N.I[1] . 6,260 6,460.00 Total emoluments paid to staff were: **38,260 70,960.00** No employee earned more than #60,000 during the year. The average weekly number of employees’ full time equivalent during the year was as follows: **----- Start of picture text -----**
|| |---| |2024 2023| |Full Time 2.0 4.0| |Part Time 1.0 2.0| |Volunteers 8.0 6.0| **----- End of picture text -----**
## **4. Taxation** As a charity, Christ Apostolic Church New Testament Assembly North England is exempt from tax on income and gains within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. **5. Creditors £** Unsecured Loan from members 27,840.00 > 1Payment was made but no deduction was made for Employer’s National Insurance 8 ## **6. Tangible Fixed Assets** Furniture 2023 Building Equipments & Fittings Van Total **£ £ £ £ £ COST** At 1 January 2024 - 8,235.00 2.670.00 --- 10,785.00 Additions in Year - 1,320.00 --- --- 1,320.00 Disposals in Year - 150.00 140.00 --- 290.00 At 31 December 2024 - 9,405.00 2.530.00 --- 11,815.00 **DEPRECIATION** At 1 January 2024 - - - - - Within the year - - - - - Destroys within the year - - - - - Disposals in the year - 140.00 80.00 - 220.00 At 31 December 2024 - 140.00 80.00 - 220.00 **NET BOOK VALUE** At 31 December 2023 - 8,235.00 2.670.00 --- 10,785.00 At 31 December 2024 - 9,265.00 2.450.00 --- 11,595.00 All tangible fixed assets are used for direct charitable purposes. ## **7. Analysis of Net Assets between Funds** : 2024 2023 £ £ Tangible Fixed Assets 11,595.00 10,680.00 Current Assets (Cash at hand) 790.60 860.20 Unsecured Loan (27,840.00) (31,250.00) Net Assets as at 31 December 2023 **-15,454,40 -19,709.80** 9