APOSTOLJC FAITH T4CISSION PORTSMOUTH ASSEMBLY (OASIS OF LOVE) Financial Statements for the yeAr ended 31 March 2025 Contents Trustees and professional advisors Trustees Report Independent Examiner Report Statement of Fin3ncial Activity Statement of Financial Position Notes to the Financial Statements Page 10- 12 Page l of IJ
Registered Charity Number: 1165249 Registered address: Suit 1, 49 Victoria Road Aldershort GUII ISJ Trustees: Lorna Chivandire (appointed 12 July 20151 Nompilo Komboni lappointed 24 February 20251 Ital Dhedheya lappointed 29 October 20181 Martin Dube lappointed 12 July 20151 Bankers: Barclays Bank PLC 236 Fleet Road Fleet GU514BX Independent Examlners: Bilberry Accountants Limited Chartered Accountarbts Castle Court, 41 London Road Reigate RH2 9RJ Page 2 of 13
Report ofthe Trustees forthe year ended 31 March 2025 The Trustees of AFMIM UK Portsmouth Assembly.. Oasis of Love present their annual report together with the financial statements for the year ended 31 March 2025. The report has been prepared in accordance with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2(M)8 and the Charities SORP IFRS 102112nd edltlon, October 2019,. 201912023 updates). l) Structure. governance and management Legal form and governing document. The charity is an unincorporated charity established by Trust Deed dated 29 November 2015. How we ?re governed. Day-to-day ministry is led by the Resident Pastor (Chairl,. overall governance rests with the Trustees, who meet at least three times a year, and the Church Board. In line with the AFMIM IUKI constitution, the Church Board- appoints heads of ministries and the administrative/strategic leadership team,. recommends and appoints Trustees,. and approves policies and procedures, including induction and training for Trustees. Trustee recruitment and training. Trustees are elected from among church members at triennial Board meetings based on competence, specialist skills and availability. New Trustees attend an induction workshop covering the Trust Deed, key policies (finance, safeguarding, data protection), SORP responsibilities and risk management. Leadership development workshops are run during the year using internal and external trainers. Organisational structure (operational units). Church Board • Board of Trustees • Sisters, Union • Youth • Men's Fellowship . Building Fund Committee. (Assemblies elsewhere operate as separate charities,. their results are not included here.) Related parties and independence. No Trustee received remuneration. Any Trustee expenses or related-party transactions are di5c105ed in the notes lif applicable). Trustees declare and manage conflicts of interest. 21 Objectives and artivities for the public benefit Charitable purpose. The charity exists for the advancement of the Christian religion and the practical outworking of the gospel through worship, discipleship, mission and social action. Public benefit Statement. The Trustees confirm they have had due regard to the Charity Commission's guidance on public benefit when planning activities and setting objectives. Page 3 of 13
What we do. Our core activities are.. weekly worship and pastoral care,. teaching and discipleship,. children's and youth ministries,. marriage and family support,. leadership training,. outreach, evangelism and community events,. and relief of need through gifts and support locally and overseas. 31 Strategyth plans and performance Strategic aims120241251. l. Grow and multiply a55emblies within our region. 2. Strengthen leadership capacity across ministries and affiliated charities. Proclaim the gospel more widely through visible, welcoming community engagement. 4. Lay foundations for a pemianent worship centre via a restricted Building Fund. Progress agalnst alms. Church growth and mission. We supported the establishment of a Bournemouth sub-assembly, held combined services, and opened additional preaching points to reach new communities. Leadership pipeline. We delivered governance and financial training for trustees, treasurers and ministry leads,. probationary placements were set for newly trained pastors prior to ordination. Community engagement. Our'Take Off the Limit" conference and weekly programmes for children, youth and adults were open to all. We provided pastoral and practical assistance to people with spiritual, social and emotional needs. International relief. During the year the church prepared and shipped baby bundles to Chitungwiza Maternity Ward, Zimbabwe, supporting mothers 2nd newborns. Donated goods are not recognised in the financial statements Isee accounting policies),. however, the cash costs of shipping and logistics are included within Charitable activities expenditure. Diversity and inclusion. While our roots are in Zimbabwe, we are encouraged by the growing number of nationalities represented in services and ministries. Key outcome indicators Iheodlinel. Income £139,224 lup strongly year-on-yearl, of which restricted Building Fund £23,229. Expenditure £87,047 supporting ministry deliveryi training and outreach. Net surplus £52,177 to strengthen our financial base and fund future mission. 41 Rlsk management & sateguardlng Trustees maintain a risk register reviewed at least annually and after major events. Principal risks and mitigations include.. Financial sustainability: reliance on voluntary giving. Mitigation.. reseNes policy, monthly budget monitoring, gift-aid maximisation. Safeguarding children and adults at risk: Mitigotion.- safer-recruitment, DBS checks, training, reporting routes and named safeguarding leads. Compliance for overseas Shipments: Mitigotion.- donation screening, customsltransport checks, partner confirmations, and clear policies on gifts-in-kind Inot recognised in the accounts unless reliably measurable). Page 4 of 13
Data protection and cyber risk: Mitigation.. access controls, device hygiene and training. 5) Financial review Results. The Statement of Financial Activities reports income of £139,224, expenditure of £87,047, and a net surplus of £52,177. Funds at year end. Total funds were £101,693, comprising.. Restricted funds (Building Fundl.. £64,949, held in a separate bank account for acquisition of a place of worship,. and Unrestricted funds Ifree reserves): £36,744 available for general mission and operating needs. Reserves policy. The Trustees aim to hold a minimum of £10,000 in unrestricted reserves. At 31 March 2025, free reserves were £36,744, c. 5 months of average operating costs Ibased on current expenditure). This exceeds the minimum and positions us to manage timing differences between intome and outgoings and to respond to unforeseen needs. Golng concern. The Trustees have reviewed cash-flow forecasts for at least 12 months from the date of approval and, in light of reserves and expected income, tonsider it appropriate to prepare the accounts on a going-concern basis. 61 Bulldlng Fund and place of worshlp In January 2024 we launched a restricted Building Fund, approved by the Church Board and Trustees, and opened a dedicated bank account with Barclays. A Building Committee was appointed (Trust Chair, Church Administrator, representatives of Ladies, Men and Youth, and members of the pastoral team) to lead feasibility, fundraising and due diligence on potential properties. Work in 2025126 will focus on short-listing properties, assessing affordability and ensuring any acquisition advances our charitable purposes and community access. 71 Volunteers We are deeply grateful to our volunteers who serve across worship, youth and children's work, pastoral care, media and music, hospitality, logistics and governance. Their time and talents significantly extend our impact. 8) Plans for future periods12025126 priorities) Mission grovrth: consolidate the Bournemouth plant and explore one additional preaching point. Capacity: complete trustee and ministry-lead training rycle; onboard additional musicians and mentors. Community impact: expand maternity-ward support overseas subject to compliance, and develop a local compassion project (food, debt advice or befriending) with partner churches. Building: progress property search, fundraising and stakeholder engagement. 91 Statement of Trustees, responslbllltles The Trustees are responsible for preparing the Trustees, Annual Report and financial statements in accordance with applicable law and UK GAAP IFRS 1021. Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charit5 income and expenditure, and of its assets and liabilities. In preparing the financial statements the Trustees must- select suitable accounting policies and apply them consistentlv. observe the methods and principles in the Charities SORP IFRS 1021,. Page 5 of 13
make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained,. and prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the charity will continue. The Trustees are responsible for adequate accounting records, safeguarding the charity's assets, and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 28 January 2026 Approved on behalf of Trustees Mrs Lorna Chivandlre (Trusteel Chalrl Page 6 of 13
Independent examinerfs report to the trustees of AFMIM UK Portsmouth Assembly (Oasis of Lovel- charity no. 1165249 I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 March 2025, which comprise the Statement of Financial Activities, the Statement of Financial Position and related notes. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the Charities Act 20111"the Act"). I conducted my examination in accordance with section 145 of the Act and the General Directions given by the Charity Commission under section 145151. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees 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 to whether the financial statements present a 'true and fair view, and the report is limited to those matters set out below. Independent examinerfs statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the Act,. and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Inancial statements to be reached. Macjones Hunduza ACA IICAEWI Bilberry Accountants Ltd, Chartered Accountants Date: 29 January2026 Page 7 of 13
Statement of Financial Activity Forthe year ended 31 March 2025 Unrestricted Restricted fund5 funds 31-Mar 31-Mar 2025 2025 2025 2024 Note Incoming Resources Voluntary Income Activities for generating funds Other Income 86,846 86,846 65,894 1,219 1,219 450 27,930 23,229 51,159 18,054 Total Income Resource5 115,995 23,229 139,224 84,398 Charitable Expenditure Ministry costs Church Governance 25,805 24,742 1,200 1,200 Church Running Community Building 60,042 47,099 Total Resources Expended 87,047 73,041 Net m¢)vement in Funds 52,177 11,357 Prlor Year Adlustment 15,5691 18,628 Fund balance brought forward 55,085 25,100 Fund balance carried forward 101,693 55,085 Page 8 of 13
Statement of Financial Position As at 31 Marth 2025 31-Mar 2025 31-Mar 2024 Note Flxed Assets Tangible assets 2,034 2,466 Current Assets Cash at bank and in hand Trade and other debtors 73,564 27,29S 43,682 10,137 100,859 53,819 Current Liabilities Creditors amounts falling due within one year Trade and other creditors 11,2001 11,2001 Net current Assets 99.659 52.619 NET ASSETS 101.693 55.085 CHARITY FUNDS 101,693 55,085 The financial statements of AFMIM UK Portsmouth Assembly: Oasis of Love, charity number 1165249 were approved by the Trustees on 28, january 2026. Approved on behalf of Trustees: Mrs Lorna Chivandire (Trustee/ Chairl Page 9 of 13
Notes to the Financial Statements for the year ended 31 March 2025 l. Accounting Policy al Basis of preparation The financial statements have been prepared under the historical cost convention in accordance prepared in accordance with the Charities Act 2011, the Charities IAtcounts and Reports) Regulations 2(x)8 and the Charities SORP IFRS 102112nd ed. Oct 2019: 201912023 updates. bl Fund accounting Unrestricted funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restritted funds are those donated for use in a particular area or for specifit purposes, the use of which is restricted to that area or purpose. cl Incoming re50urces Voluntary income, including donations, gifts and legacies and grants that provide core funding or are of a general nature, are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Investment income is recognised on a receivable basis. Income from charitable activities includes income recognised as earned las the related goods or services are provided) under contract where there is entitlement, certainty of receipt and the amount can be Measured with sufficient reliability. dl Resources expended Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods or services are supplied. Other grant payments costs of generating funds are those costs incurred in attracting voluntary incorlle, and those incurred in trading activities that raise funds. Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis tonsistent with the use of resources, e.g. allocating office property costs by floor areas, management and human resources costs by the number of staff, and finance and IT costs by work done. e) Donated Goods and services Igifts-in-kindl. The charity receives donated good5 le.g.1 baby clothing and essentials) for onward distribution. These donations are not recognised in the Statement of Financial Activities because their fair value cannot be measured reliably without undue cost or effort and the charity does not have control over the goods before distribution. Volumes and outcomes are reported in the Trustees, report. Page 10 of IJ
Contributed time and services from volunteers are not recognised as accounting income because they do not create or enhance a recognisable asset. the value of such support is disclosed in narrative form in the Trustees, report. fl Taxation Irrecoverable VAT is not separately analysed and is charged to the statement of financial activities when the expenditure to which it relates is incurred and is allocated as part of the expenditure to which it relates. Tax recovered from voluntary intome received under gift aid is recognised when the related income is receivable and is allocated to the income category to which the income relates. gl Tangible fixed assets and depreciation Tangible assets are stated at cost and depreciated over their useful economic lives at the following rates- Musical Instruments Equipment 4 years 4 years Where the recoverable amount of a tangible asset is found to be below its net book value, the asset is written down to its recoverable amount and the loss on impairment is charged to the relevant expenditure category of the Statement of financial activities. Where an asset is not primarily used to generate income its impairment is assessed by reference to its service potential on its initial acquisition. The charity currently has no tangible fixed assets to which impairment provisions apply. 2. Voluntary income 2025 2024 Tithes Love offering 62,861 23,985 86,846 46,583 19,311 65,894 3. Other Income 2025 2024 GiftAid Interest reteived Restricted donations 27,295 635 23,229 51,159 10,137 656 7,261 18,054 4. Ministry costs 2025 2024 Employee costs 25,805 25,805 29,647 29,647 5. Church governance 2025 2024 Pagellof13
Accountancy and independent examination fees 1,200 1.200 1,200 1.200 6. Property Plant and Equipment Musical Instrument5 Total Cost At l April 2024 Additions 4,965 1,079 4,965 1,079 At 31 March 2025 6,044 6,044 Depreciation At l April 2024 Charge during the period 2,499 1,511 2,499 1,511 At 31 March 2025 4,010 4,010 Net Book Value At 31 March 2024 2,466 2,466 At 31 March 2025 2,034 2,034 7. Cash and cash equivalent 2025 2024 Unrestricted funds Restricted (building fund) 8,615 64,949 73,564 24,890 18,792 43,682 8. Trade and other debtors 2025 2024 Gift Aid Accrual 27,295 27,295 10,137 10,137 9. Trade and other credltors 2025 2024 Accountancy and independent examination fees Other taxes and sOC131 secLJrity 1,200 1,200 1,200 1,200 IQ. Capital commitment5 There was no capital commitment in 202512024.- Nill Page 12 of IJ