Chirity nunbber: 1198609 CELEBRATION CHURCH INTERNATIONAL CIO TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CELEBRATION CHURCH INfERNATIONALCIO Referente and *dministr*tive del*lJs oftheCb•rity, itsTrnxltts and xdvi5ers Trwstee$' ￿ptrrt Inde￿ndent auditors, report ott the fimanti*l stslements Staterne•t of fiD*neial *ctivitks 12-15 16 1311tesheet 17 ststemetht of eash flo* 18 Notss to the fi￿￿0*1 st*t¢ments 1937 CELEBRATION CHiIRCH INTERNATIONAL CIO REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRusfEES FOR THE YEAR ENDED 30 JUNE 21124 Trust￿$ Pastor Pet•r Joseph Uslkpo Pastor Oyinkan$ola Esther Odunlaml Oluwapeluml Oluwadamilola Aklnwande R￿Igned 21st May 2024 Okeogh•ne God$wlll Mba AJok8 Emek•ng Appolnted 8th June 2024 Charlty reglstsred numb•r 1198609 Prlnclpal office 167.169 Groat Portland Str9•( 5th Floor London W1W SPF Chl•f •x•cutlvo offlc•r Putor Peter Jos•ph UsSkpo Independent audltors Stephen Mlchael As8oclat•8 Chart•rgd Certlflod A¢¢ountsnts Statutory Audltors 201 Borough Hlgh Str••t London SE11JA Accountants Avlnu Consumng Llmli•d 85 Great Portland Strgot London W1W 7LT Bankws Lloyd$ 25 Gr•8ham Strwt London EC2V 7H 31Page CELEBRATION CIIURCH INTERNATIONAL CIO TRUSTEFS. REPORT FORIIIE YEAR ENDED3(I JUNE 2024 The Trustees present their annual rewt together with the financ4al sta18ments of the Celetjration Church Inlemolional for the year 1 July 2023 10 30 Junè 2024. The Tnjstees confirm that Ihg report and finarKial 8t81*m￿lts of the Charity havo boon prnpared In awrdance wSlh the accounting polid8s sel out Sn note 1 to the 8CcO￿ls and compty with Iha goveming doojmenl ol the Charity. the Chanlies Act 2011. and P£counting and Reporting by Charities.. Slalemenl of Récommended Practice apF4icable lo eharilies prepartng their ae¢ounts in aceordance with the Financ181 Reporting Standard appllcable In the UK 8rKI Rep￿lIC of Ireland (FRS1021 {effeciNe 1 January 2019}. Roferen￿* and adminlslrallve Infomwtlon 8et cxrt on page 1 lorn* part of thi5 report. ObJ•ctlve• •nd actlvltl•8 •. Poll¢l•s and obJ•¢tlv The obJ•cts of tho Charfty ar•: Al To advance thè Christian Rdigion for the b¢nèfil of the public In the Unrted Kingdom elsewhere In accordance with the drtlrines $01 In Hcly 8itAe. thrrwh: l. The holdlng of prayer meetings: broadcasbr4J of Christian messages of an evangelistlc and leathlng nature; and producing andlor dislribub'ng literature lo enllghten others about the Christian faith. ii. The provision of pastoral carv and carrying out gvan901istlc and outroach WO￿ in thè eommunity. Bl Tho relief of finanaal hardship p4Mng P80F48 vthhin the Church or th8 98ographlcal c4)mmunity in which it operates and any part ￿thift the United Kingdom. thrO￿h.. . Provldlng ffjllef and as$l$tance to 18mlllgs and people In need of ffinanryal s￿*port, ii. Providing support lo resl(Jonts wtthln London who are wclims of natural d18aster by supplylng them ￿￿th food and basic needs: 41Page CELEBRATION CHURCH I[￿RI￿ATIONAL CIO TRUSTELS, REPORT(CONIINUED) FOR THE YEAR ENDED30 JUNE 2024 ObjeGtlves and actfvities (Continued) C} To promoto other charitable athits.es assolaaled Mth the Celebralion Church for the benefrt of the community In London. United Kingdom and ultim8tely W0dth￿de. In setb'ng objectives and planning for ￿ti￿ties. the Trustees have given due ccmsideratM)n lo general guidance pub￿"shed by the Charity Ccmnmission relating to public benefft. induding the guidance 'Publi¢ benefit.. wnning a charity {PB2)' and in parbcular its supplementary public gumlance on Ihe advancement of rel￿10n for the public benefit. b. Strategies for achievlng obpthes We offer 8 place of worshlp to hold prayer meetings, teachings and vari¢JJs prograrnmes for the general public and our existing members. We have the Child￿￿'S church. Whe￿ we nurture chlldren and young peorAe lo follow Ihe teachings of Jesus Christ arKI guide them lo gn)w into responsible future leaders. The adutts are trained through a membership dass and other training offered for developing arbd building spiritual strength and stsbility In them. Our mis￿on is lo equip every adult the work of the kingdom of God. and lo make a positive impact in their families and communities. We bro*Jcasl our teachings and seThices on so¢￿ media where we reach more people online in addition lo th¢)se attendiThJ the place of worship. Several r1￿ are recorded on audic4video reujrdings in order to give out for free to all vi51tors and especialy new members who want to grow in their spiritual lives. We also produce tracts and publish ikn)ks f¢ythe benefit ofthe public and church membars. These are dislributod mainly during outreachlevangelism on the streets, and in thwch. to church mewnbers and wsitors. We also have all Ihe above for children, who are spec4alty trained and nurtured as Celeb lfjds. We provide Pastoral care for individuds and families are our members. visitors from the public or other r￿uest we receive nee(fing supp)rt. We offer spinlual ¢xNJnselling and praye￿ for those experiencing emotional & psychological thallenges. We provide them th the necessary information as M￿11 as possible and refer them to other organisations and agencies that will further meet their needs. We go on per80nal v4sits to members are bereaved. sfick in the hOs￿tal or experienung trauma. to express our bve. care and mmfortlng arms. Those wh) are L￿ebrating new births. marriages. elc. are also supported as much as poSsi￿e. We rglieve finan￿al hardship for members or Conne￿ed peWe who s*k our 5UPPOrt. Young people wilhin th church have re￿iVed significant physical support food and paying for Iheir a￿MmOdation within our resources, In the interim. As a church. we wll arise to offer a5SiStance in any forni of unseen (ar￿MS1anCeS that may ¢)ccur in all communibes where we are located in ts United As a church, we ￿711 artse to offer assistance in any form of unseen cin>Jmstms that may occur in the community we are loGated ￿ London. We will promote other charitable actiwlies associated wlh the purpose of CelebratiM Church. These include working in partnership wth (x)laboration with other Churches, Charities, Schcols and govemmental agencies thal wll serve the interest of our men*ws and immediate communty. 51Page CELEBRATION CHURCH INTERNAnof4AL CIO TRUSTEES, REPORT (CONfiNUED) FOR THE YEAR ENDED30 JUNE 2 ObJoctiv•s and acllvlties (conllnu•d} c. Activitles undertaken to achi•vo obiactive$ Promding a place of worship Pastoral care. outreach Providing general wetfare and financ4al support to those in ne8d cOnferen￿S & Events Media AL*vities. d. Volunteers The charty is grateful for the unstintiTrJ efforts of its vobJnleefS who are Involved in seryice pn)vision on a weekly basis. 11 is estimated that over 52.CQO volunteer hcyJrs across 5 Campuses were provided during the year. If this is conservatively valued at £11.50 an hour. the vdunteer effort am(yJnts to over £598,000. The pastors of eath campuslbranch act as volunte8r cO￿dinal0Ts for Ihe (4)arity to ensure that the best value is derNed from the steding efforts of wr vdunleets. e. Main actlvltlos undertaken to further tho Charlty's purposes for the public benefit Celebration Church Intemational e￿sts to adVa￿e the Christian farih for ￿ benefit of the entire public in the United Kingdom Ihrough the broadcasting of Chrislian messw and musiG hokling prayer meelings and ML more. AGhlevemsnts and p•rforniance a. Key perforn)ance indlcators Our key perf0m￿nCe indicators are the numberof¢xww y￿ are able to establish across the United Kingdom aswell as the numberof peoplewtho att￿d the church f￿the firsttime and getconverted into becoming members of the church. 61Page CELEBRATION CHURCH INfERNATIONAL CIO TRUSTEES. REPORT (CO]Yll]¥UED) FOR THE YEAR ENDED30 JUNE 2024 hlevements and perforniancg (Continued) This year, the church was able lo plant one rn0￿ ￿MpuS in Soulh East London. Ajso. kne Cell Churth initiative was started. which aims lo ￿ach more people who are spread arxos5 Ihe United Krngdom, and are unable lo make it lo any of our campuses every Sunday due lo the distsnce. This initiative allows members who live in cities or towns farfrom where we have established campuses. to rneettogether every Sunday to worship together and have a church eXpe￿en￿ on Sundays. Our cell thurches are I(￿ted in M￿dlesbrOUgh, Coventry, Hull, Dundee, Newcasue. Leeds, and Wales. The membership ofthe chur(* also in(xeased. b. Revlew of actlvlties Amor@st all the various acbwties the churt* is invofved in, bekw is a brief summary outlilling a selection of the different activities the churth and leade￿ have activety p8rbrApaled in.. Reboot Camp.. An annual camp meeting of celebration church global. where all celebration thurch campuses around the wodd c￿}verge lo pray, study and wc¥ship in preparation for the new year. Refresh: A mrmtNy prayer meeting which takes ptace at the mnth in all &wnpuses across England. Hangout: This is an event that happens at srerxfic til￿5 ofthe year. for mmbers of the church lo o)me together as a form of fellowship arKI a way to ￿laY as well as boTrJ over f¢xyJ and games. IAlorship Tour: This was a worship meeting that took tA8(E in Coventry and Hull during the year, for members in these locations lo me8t together for a time of worship in s(¥ys and prayer Weekly evangelism: As a church. we go out io weath Ihe goyl to people on a weekly basis. Algorithm: This 15 a corporate event that look pla￿ On￿ this year. to help members of the thureh galn more knovAedge on how to apply for jobs. scale professiondty and succeed in the c(w)rate wot1d. MAP M¢etlngs: This is a rnonthly Meet and Pray evenl. where members who live in close proximity across the UK come togeth9r a time of fdlowthp. This meeting tskes place in eath duster once a mnth. RISE: The pastcKate and leaders of each camws make a decision for all members in Ihat carrf)US to meet together for a vigil, themed 'RISE' to spend the night in wayers. Ovorture: This is an annual ￿￿ting vknich happerts a￿D￿$ all campuses on the 31st of L)ecember into thg 1st of January. The purp)se is to fell￿hIp arKI way 109ether into every new year. 71Page CELEBRATION CHiJRCH IprrEP24ATIONAL CIO TRLStEES' REPORT (COPalNUED} FOR THE yFARE￿DED311 JiJNE 2024 c. InveStm￿t pollcy and performance The trustees have decided that at present. funds should be retained in Banks and PayPal, an C￿lIne paynEnl system. Any ch8r¥Je in such bankirwj arrangements shcwld be agreed by the trustees. Flnanclal rèvlew a. Going coneern After making appropriate errfjuiries, the Trustees have a reasonable expectation that the Charity has adequate resources to conkn.nue in operational exislerKe for Ihe foreseeable ftjture. For this reason, they continue lo adopt the going Concem basis in preparing the finanL¥al ststem8nts. Further details regarding Ihe adoption of Ihe going concem basis can be found in the a¢￿Unting poiiaes. b. Re$¢rv•s poli The Iruslees have established a pdicy %thereby Ihe unrestn.cted fuThls ￿MmItted or invested in tangible fixed assets {'Ihe free reserves,) held by the church should be three months of annual exp&nditur9. Ai this level, thtr trustees feel that they would be able to c¥)ntinve the current activities of the church in the event of a significant drop in fvndiThJ. The charity's free reseNes amount to £363,717 in 202412023- £84.877). whith exceeds the target levd based on average annual expenditu￿. ¢. Rlsk management The Trustees have awssed the major risks to ￿1th the charity is exF#)5e(l. in particular those relaled lo Ihe operations and finances of the charrty. and are satisfied that systems are in ￿aCe lo miligate our exposure lo the major risks. d. Princlpal fundlng This is provided mainly through v0￿ntsry tithes and offerlngs by th& churth ff*mbers. Pledgesldonations are also taken fef specrfic projects. 81Page CELEBRATION CHURCH ImRNATIONAL CIO TRUSTEES. REPORT {CONnNUED) FOR THE YEAR ENDED JUh'E 2024 Structure. goveman¢e and managemgnl a. Constitution C8lebr8tion Church Inlemational CIO is a registered charity. numt*r 1198609. ￿ Is rK)nstituled by the Charity b. Methods of appointm•nt or ol•ctlon of Trust The management of the Charity is ts reS￿nSibIlity of the TnJ5tees who are elected and ciwpted under tho lem)s of the CIO Model Constilubon. c. Oryanlsational structurg and dec1s1on￿k(ng pollcles The church is organised $0 that th& lrnstees nwt rg3ularly to manage its affairs. The Ex9culiv6 Pastor manages the day-t¢>day administratton of the ￿r¢h. d. Pollcles adopted for the Inductlon and tralnlng of Trustees Tho induction proeoss for any appointed of th8 Trusi6es COmPfiSeS an initial meeting with the Chair and other Trustees. folkmd by a series of short meetin9S Wth the Minisler in Charge on the powers and reswnsibilities of the Trustees. e. Pay poli¢y for koy managoment pgrsonnel The trustees CA)nsider that truslees and the eX￿lIve pastor comrxise the key management personnel of the charity in charge of direciing and contrdling. wnning, and operatiThJ th8 Trust on a day-t(>day basis. All Iruslees give their lime free￿ in their capauty as trustees. The pay of the charivs senK)r staff is delemilned tythe trustees and is typicalty increased lo accounl for Inflation, based on th8 latest Consumer Pri￿ Index. Ptans are in place to benchmath this remuneration against similar- sized charities in the future. 91Page CELEBRATION CHURCH l￿fERNATIONAL CIO FOR THE YEAR ENDED 30 JUNE 21n4 Strucbjrej govern8net attd tll*ttAVm¢nt (toRtIDwed) l. Plans for firture periods The d)urch continues lo eW¢x8 varbous ways of sweading th8 9)9￿1 of Christ In an effective manner. The Charity is also looking to grow in membership and continue lo develop its rrembers lo make a life changing impact in society. IOIPage CELEBBATEON CHURCH MERNATIONAL CIO STATEMEKf OF TRUSTEES, RE8PONSIBILmES The Trustees are reswnsible for tKeparing the Tmstees, rap￿ and the finaroal statements in a¢￿dance with applicable law and Unibj lfjrvJdom ACcoUT￿r*j Standards (Unrted lfjngthm Generally Accepted Accounting Practice). The184V applicat4e to charthes in England & Wales fequires the Trusloes to rryare financA81 statemènts for &qch nancial year %thich give a tsije and fair Mew of the state of affairs of the Charity and of its incoming resources and apF4ication of reS(￿r￿. incJudirwJ rts ir#>)me and eyrkyiture, for that peric*J. In preparing these financtal statements, the Trustees are r&]uiYed to: sefeGt suitatAe eK£ountirwJ p)k¥es aThY tt18n a￿ty them obseNe the Mettr￿S and prinoples of the Charities SORP (FRS 1021,. make I￿jgments and ￿rn￿ntir￿J eslimates Ihat are reascmiable arKI FWLKJen( st8te thether applic*)te UK Ac(y)JntiThJ StaThJards (FRS 1021 have been followgd, subject to any material deparbjres disclosed arKI exrAatned in the finan¢ial statements.. prepare the financaal ststements on the wng eoncem basis unl￿S it is inapFxwate to presume that the Charity wll c(￿tinUe in business. The Trustees are responsible for keeping ad4uate aLXX)unting reLX)rds that are sufficlent to show and explain the Charivs transacli¢y)s and wth reasonable ￿raLY al any time the fknanaal position of the Charity and enable them lo ensure that the finan¢ial *atements comply wrth the Charities Act 2011, the Charity IAc¢ounts arKI Ret*)rts} R8gulations 2CA)8 and ts provIsM￿ of Ihe Trust deed. They are also responSi￿e for safegu8rdit¥J the assets of the Charity and hence for ta￿ng rea￿￿ble steps for the wev8nlion and de￿tIOn of fraud aThl other irregularllies. Disdosurg of inforniatlon to audttors Each of the pers(￿ who aro Tfustees at the when this Tn&%tees' rerth aprKoved has confirmed that.. 50 far as that Twstee Is aware. there ts rm) relevant a￿JIt inforrnation of whth the d￿rI￿$ 8uditOFS are unaware, and that Twslee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit ￿fOr[￿9t10n arKI to establish that the chariws audttLYS are aware of that informaticfft. The auditor5, Stephen Mthael Awxlats, have IrKfica￿I tsir wTrironess to continue in offits. The designated Trustees wll wcy)se a nM)tion reapwinting the audttors at a meeting ofthe Trustees. Approved by order ofthe members of the of Twstees on ...2?4￿2025 .and sbjned on their ￿half by." Pastor Peter UsikFo PastrK (i￿nk￿n30[a E¥ther C*lunlami IIIPage CEtEBRATION CItURCH INfERNATIONAL CIO INDEPENDENT AUDTfoRS' REPORT TO THE TRUST￿ OF CELEBRATION CHURCH INTERNATIONAL Opl￿On We have audiled the financial statements of CeletKation Church Inlemational lthe 'charity) for the year ended 30 June 2024 which (xynprise the Statement of ffina￿al aknties, the Balance sheet the Ststement of cash flows and the related notes. induding a wmmary ￿ siqnificant accounting pc4icies. The financial repcrfbrwJ framework that has been appl￿1 in their preparation is apr￿￿ble ￿ and United Kingdom Ac(￿ntir@ Startda￿S, irKluding FinanL?al Reporting Stsndard 102 'The Financial Rep(xting StaThJard applicable in the UK and RepU￿1C of Ireland, {Uniled Kingdom Generaty Accept&l knnling PractKe). The financial statements have been prepared in acconlance W￿th ALxounting and Retthng by Charibe5 preparing their accounts in accordance the Finanual ReF(srbrvJ Stsndards appfKxL4è in the UK and Republic of Ireland {FRS 102} in preferen{% lo the AcccAmtirKJ and Rewrf]'ng by Charities. Stalen￿t of Re0)M￿ PraGtic* issued on 1 Awil 2005 whith Is refwgj to in the exlant regulations tKrt has been wilhdrawn. This has been done Hi cthr the ac(x)unts to pffjwde a true and fair wew in a(yx)rdance with thg Genernlly Accepted Act(MJnting Prai*ce e￿*ve reportirvJ peri￿ Winning or after 1 January 2015. In our Lwinion th8 ffinanual stsknrts.. give a true fair vivw ot the state of the ch8riVs affairs as at 30 June 2024 and of its incx)miThJ resource8 aThY 8￿iCation of resour￿ for the year then ended.. have been properly prepared in a￿Ordan￿ wih UniteAI lQngY(Kn General￿ AL¥%p￿ Accounting Practice. and have been prepargj in a(￿d￿ vrith the ￿￿Irerr￿nts of the Charities 2011. Basls for opinion We cLJnducted our audit in a(￿rdan￿ wilh Intemational Standards on Au(Jitsng (UK) {ISAs {UK)} and applicable law. Our responsibilities under those slandards are further descrited in the Auditors, resFM)nsitrAlities for the audit of the finanaal statements section of our reporL We are IrKlep￿1dent of the tharity in ￿nce wlth the ethical requirements thal are relevanl lo our a￿111 of the finanoal statements in the Unrtej Kingdom. Ind￿ling the Finanrial Reporbng Council's Ethi1￿ Standard. have fuffilled (w other ethieal ￿S￿l$1b￿l￿s in ac(x)rdance with these requirements. We believe that the autht wdence V￿ have (*rtained is suffiLient and approw*e to pmwde a basis for our opinirm. ConcI￿lon$ relallng to golng concorn In auditirvJ the financiat statements. we have (Y)￿￿K1￿ that the Tn&ees' use of th8 goiTrJ con¢em basls of accounting in th8 preparati￿ of the financaal slatements is approwbate. Based on the V•Y)rk we have Fwf0rM￿, we have mt identified ary material uncErtainties relating lo events or cc￿di11ons that, Indivklually or collethvely. cast signifK2nt doubt on the tharitys abflity to continue as a going concem fN a period of at188s1 t*ffv8 ￿￿thS from wlien the stateM￿ts are auttb)nsed for Issue. 121Page CELEB114TION CHURCH lTrffERNATIONAL CIO INDEPENDENT AUDITOILS, REPORT TO THE TRUSTELS OF CELEBRATION CHURCH INfERNATIONAL Our responsibilities and thg responsibilitiesof the Trusleeswilh resped lo going ¢4)ncem are described in the relevant sections of this rep(wl. her matter The financ¥al statements of Celebr8tion Churth International ts the pericmj ended 30 June 2023, were not audit￿1. Other Inf¢mwtlon The other inf0m￿tion o)mprises the infonnation wKILbJed in the Annual report other than Ihe financial statements and our Auditors, report Ihereon. The Tnjstees are respO￿ble for the other infomiation contsined within th8 Annual report. Our opinion on the finawal statements does not C4)ver the other infomiaknon and, except to the extent oth¢wse explicilly staled in our report, we (kn not exKYess form of assurance condusion thergon. Our responsibility is lo read the olher inf0m￿tiOn aTrJ, in doing so. c4)nsKler whether the other infomiatlon is materially ineonsislenl the financial stslements or our knoYAedge oblained in the (xxw of the audit. or otherwise appears to be materially misslaled. Ir we identify suth material in(tJnsistenaes or apparent material misState￿nIs, we are required lo determlne whether this gNes rise to a material misstalen￿t in the financial statements themselves. If. based on the work we have performed, we Tr)ndude that there is a material misslalement of Ihis other information, we are requir￿1 to repwi that facL We have nothing to report in thls regard. Matters on whlch wg are requlred to rgport by ￿CePt￿l We have nothing to repLKt in respectofthe followng matters where the Charities (Acwunt8 and Reports) Regutalions 2008 requires us lo report to you rf, in our opin￿n.. the infomwtion given in the Trustees. rep)rt 15 ino)nsistent In any matorial r8sF*cI wlh th8 financia slalements., or sufficient accounting racords have not been kepL ( the financial statements are r￿t in agreement with the acTh)untirg reoxds and retums: or we have not received all the inforrnation arKI exrAanations we require for our audiL Responslblliiies of trustses As ex￿aIned more fulty in the Tnjslees, res[￿S1￿11￿9S State￿￿nI. the Trustees are responsible for the preparation of the financaal slalements which give a twe and fair wew. and for such internal o)ntrol as the Trustees delermine is necessary lo gnable the p￿paratIOn of financial stalements that are free from material misstatement. whelher dug lo fraud or error. 131Page CELEBIL4TION CHURCH INfERNATIONAL CIO INDEPENDENT AuD￿ORSy REPORT TO THE IIiUSTELS OF CELEBRATION CHURCH INTERNATIONAL In preparing the financial statements, the Trustees are responstble for assessing the charity's ability to ￿ntinue as going concem, disdosing, as appii(able, matters related to goiThJ con￿rn and using the going concern basi5 of acLounling unless the Trustees either intend to liquidate the charity or to ￿ase operations, or have no realistic 81tematfv8 but to do so. Auditors. responslbllitles for the audit of the financial statemènts We have been appointed as auditor under section 144 of the Charities Act 2011 and ￿port in accthance with the Act and ￿leVant regulations m* or Ikgving effect Ihereunder. Our objectives ar8 lo obtain reasonable 8ssurance aboth the financkql staternents as a whole are free from material misstatement, whether due to fraud or error. and lo issue an Auditors, r8POrt thal indudes ¢JJr opinion. ReasOna￿e assurance is a high level of assuran￿, but is Th)t a guarantee that an audit conducted in accDrdance with ISAS IUKI wll a￿VayS detect 8 material misslalemenl when it exists. Misststemenls can arise from fraud OT error and are considered material rf. indiwdu8lly or in the aggregate. they could re89c￿￿bIY be expected to infi￿nce the ecommic decisions of users tsken on the basis of Ihese financial statements. Irwlariiies. induding fraud. are irnstanc*s of non4x)mpllan￿ wilh laws and regulatM)ns. We design procedures In line wth our responsibilities. oulined above. to deleLI material misstatements in respect of irregularities. including fraud. The extent to which our [￿0￿ureS are capable of detecting irregularities. indudiThJ fraud is detsiled ￿10￿. We identified areas of laws and regulations that coukl reasonably be expected to have a materi81 effect on the financi81 statements from our sector experience through di￿u$$10n with the Trustees and other management (a5 fe(wired by auditing slandards). We had regar(J to L8ws and regulations in areas that directy affecl the financial stslements indLMJing finanrAal reporting and taxation *islation. We considered the extent of complianc4 th those laws afKI regulations as part of our prc¢edurè on the related financial ststerr￿￿t items. With the eX￿PtiOn of any known or pOsS￿e non-complrdnce, and as required by auditir¥J standards, (￿1r work in ￿Spect of these was linNted to enquiry of the Tnjstees. We communicated th)tified laws and regulation5 throughout our team and remained 8lert lo any inditstions of norFcomplIan￿ througtKJut Ihe audit. We addressed the risk of fraud through rro￿ag￿mnt overnide of cnntrois, by testing the appropriateness ofjoumal entries and other *fiusbments" a&8essing whether the judgements made in making ¥counting estimates are indi￿tIVe of a F4)lential bias; and ewdluating business rationale of any SI￿lficant transadions that are unusual or Cmjtside the nomial course of operalicfft. 141Page CELEBRATION cifuRCH INTERNATIONAL CIO II¥DEPENDENf AUDITORS. REPORT TO THE TRUSTEES OF CELEBRATION CHURCH IprrERNATIONAL Our audit procedures were designed to ￿SPOnd lo risks of material r￿$statement in tha financial slatemants. recognising that Ihe risk of not detecting a materiat misstaternent due to fraud is higher than the risk of rbot detecting one resulting from error. as fraud may invofve deliberdte concealment by. for example, forgery, misrepresent8tions or through collusion. There are In￿rent limitslhMs in the aLKlil procedures r*rfrJmied and the fvrther removed nonrycompliance laws and regulations is from the everts and transactions reflected in the fina￿al statements. the less likdy we are to bec£Kne a￿are of IL A further de8￿ption of our r8sponsibilibes audit of the financial Statements Is located on the Financial Rep)rting Counul's Web￿le al.. www.frc.org.ukJaudrtorsresFK)nsitilities. This description fomis part of our Auditors, repo Use of our report This report is m&Je solely to th8 ch8riWs trustees. as a L￿. in aCC￿anCe wth Part 4 of the Charitles (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity's trustees those matters we are reqUI￿d lo state to them in an Audito￿. report and for M other purp)se. To the full8st extent pem)itted by law, wa ilo not a¢(wt or assume re¥KJnsibility to anyone other Ihan the charity and its trustees, as a body. for our audit work. for thi5 repcKI, or for the we have fomMI. Stephen Michael Associales Chartered Certified Accountants Stslutory Audi 2018orough HHJh Street London SEI 1JA Date.. 2> fvn."1 20>< Stephen Michad Associates are eligik4e to ac* as audito￿ in terrr￿ of 1212 of the Companies Act 2006. 151Page CELEBRATION CIIURCH INfERNATIONAL CIO STATEMENT OF FINANCIAL ACTIVITtES FOR THE YEAR ENDED 30 JUNE 2024 Restricted funds 2024 Unre5trirted fund 2024 Total funds 2024 Total funds 2023 Notes INCOMING RESOURCES Donations and legacies 31143 1.430,357 1,462,$00 701.050 TOTAL INCOMING RESOURCES 32.143 1.430 357 701.050 REOURCES EXPENDED Charitable activities 52,455 1,051,099 1,103,554 616,462 TOTAL REOURCES EXPENDED 52.455 1 103.554 616,462 RECONCILIATION OF FUNDS: Total funds br(KJghl foward {30,029) 127,724 97.695 13.107 Net movement in funds (20.312) 379,258 358,946 84,588 Transfer be￿en fvnds 52.700 (s2,7￿)) Totsl fijndg carrled fO￿ard 2.359 456.641 The statsment of fitt*nel*l *ctiviti*s ltytludes 811 g#1￿ •fyd losses retopised in the yur. The llote5 OD pages 19 to 37 forni of the* fi•aMi•l Jtatements 161Page CELEBRATION CHURCH iTrrfERNATIONAL CIO BALANCE SHEET AS AT30 JUNE 2024 2024 2023 FIXED ASSEr TanglbFe Flxed Asset ,565 42,847 CURRENT ASSETS Debtors Cash al bank and In hand 10 .117 104.330 57.923 408,447 57.923 CREDITORS: duo wlthln one y•ar 11 NET CVRRENT ASSET8 TOTAL ASSEf LESS CLIRRENT UABILMES CHARITY FUNDS Re8Mcted fund8 Unr8slrScted fvnds 13 13 2.359 {30.0291 127 724 TOTAL FUNDS The finan¢ial slatements w¢r¢ approv￿ and authorised for issue by the Tnwett and signed on their beh8Jf by: Pastor Oyinkansola Esther Odunlami Dth.. 22-￿2025 The Dotes on 19 to 37 form part of these 5t*t¢Jnellts 171Page CELEBRATION CHURCH INfERNATIONAL CIO STATEME￿ OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 STATEMENT OF CASH FLOWS Totsl 2024 Total 2023 Cash flows from op•ratlng actlvltle¥ Nel cash used In Opera￿ng 8dlvftle8 110237 Ca$h flo￿ from Inve8tlng adlvhl•s Proeeeds from the 88le of tanglble fixod a888ts Purchased of tanglble flxed assets {66.830) {45,175) Net ca•h lu••d InVprovld•d by Inv88tlng actlvftl•s Caih flows from flmnclng athltl•8 Not Cash usod In fln•nclng adl¥lll•• Chang• In ca¥h and c••h èqulval•nt In th• y•ar 46.407 44.816 Cash and cash equivalents al the t￿innIng of the year 57.gYJ 13,107 Cash and ush equI￿lents at the end ofthe year 104.330 57,923 The noteg on pagu 19 to 37 form of these fitt*ntial statsm¢•ts 181Page CELEBIL4TION CHURCH IprfERNATIONAL CIO NOTES TO THE FINANCIAL &fATEMENfs FOR THE YEAR ENDED 30 JUNE 2024 Gener*1 illfom•tioD CelebrnI￿ Church Internfitiord is a tharitable i1w￿#t¢d or8anisaiion registered with the Charity Commission in En8land & W81¢s. The officc addrtts is 167-169 Great Portland StreeL5 flrKJr, Ltsndon.WIW SPF. Aeeounting ￿lIcI 2.1 Bajls of preprAdon of finaneknl st•t¢me•l> The fin￿￿11[ statements have bEen prepknj in aecttdance with th¢ chariti￿ SORP IFRS 102) . Aceounting and Rep)rtin8 bycharities.. Stsiemenl of Reeommertd￿ Prnctie¢applicable iorhariiies preparingtheiraccounts in accordance with the Financial Keportin8 Stsndard applicable in the UK and Republic of ITeland (FRS 102) {¢ffective l January 2019). the Financial Reponin8 Stsndard appli¢4ble in the UK and Republi¢ ofireland (FRS 102) and the Chtriti¢5 Act 2011. The financial stath¢nts have b¢¢n prepared ￿ $ive a Irue faiv view knd have dep8rt￿ from ihe Chtiritiej (Accounts and Repcmts) RegulatioTL5 2(N)8 ¢)nly ￿ the extent required to provide a '¢rue aTrJ fair, vi¢w. This dcparture involved following the Charities SORP (FRS 1021 published in Odober 2019 rather than the Acwuntin8 8nd ReF)unts 500 Fees payable to the Chariws independent examiner n respe(1 of: A¢¢ountancy $8rMcos 281Page CELEBK4TION CHi￿rrect allocation of expenditure to the fund in tho prevM)us yoar. 14.Summary of funds- curreffl year 1Juty 2023 30 Jun• 2024 Incom• Expendltur Trnnsfor Unreslri¢ted funds Rèslricled funds 127.724 (30.0291 1,430,357 11.051,0991 32.143 {52.455) 152.700) 454,282 52,700 2.359 1103 554 Summary of fvnds- prlor vear Balance al 13 Aprfl 2023 8alan¢• at 30 June 2023 Incom eX￿ndItUr Unreslrlcted fvnds R￿tricted funds 13,107 651,609 49.441 701.050 (536,9921 179.4701 1616,462} 127.724 130,0291 97,695 13.107 341Page CELEBRATION CHURCH wfERNATIONAL CIO NOTES TO THE FINANCIAL STAIEMEMfs FOR IHE YEAR ENDED 30 JUNE 2tr24 1& Analys18 of nel ass•ts bgiwe•n fund• Analysls of not assets betwoen funds •curr•nt year Re5trkted funds 2024 Unrestrlcted fund 2024 Total funds 2024 Tan9ibl8 fixed assets Current assets Credltors due wlthln one year 90,565 406.088 90,565 408,447 42,371 2,359 Total 2,359 454,282 456,641 Analys1• of net Js••ts betw•on fvnd• 4>rlor y••r Restrlcted funds 2023 Unrestricted fund 2023 Total funds 2023 T•nglble a&8ets Current assets Credltors due wr¢hin one year 42,847 87,952 42,847 57,923 3,0751 130,0291 Total 130.0291 127.724 97,695 351Page CELEBRATION CHURCH ifaERNATIONAL CIO NOTES TO THE FINANCIAL STATFMEKfs FOR THE YEAR ENDED 30 JUNE 2024 16.Retondllatlon of net mtyement in lunds to net cash trlow from operatlng artlvitles Total 2024 Totsl 2023 Net inccth8 for the peritxl (05 per Stotom8nl of Fina￿181 AfAivibg$1 358.946 Adlustments for: Depr¢cialion charges Increase In debtors Increase Ildecrea5el In creditors L055llprofftl on Sale ol fixed ssets 16,699 (304,117) 39.296 2,328 3,075 ($87} N•t ca•h provlded by op•ratlng acllvltS•8 110.237 89.991 361Page CELEBRATION CHURCIt INfERNATIONAL CIO NOTES TO THE FINANCIAL STATEMEfffs FOR THE YEAR Eh'DED 30 JUNE 2024 17. Analysis of cash and ¢ash equivalents Total 2024 Total 2023 Cash at bank and in hand 104.330 57,923 Total cash and Cash equlvalerrts 104,330 57,923 I& Anxlysts ofchanges in net debt Atl A130 Cash flov4s July 2023 June 2024 Cash at bank and in hand Debt due within 1 year 57.923 46.407 104.330 3.075 39.296 7.111 61.959 19. PtnJioTr comMit￿ellts The charity operat¢s a defjneo ￿ntribull0n Fajsion sthem¢. The assets ofthe scherne are he]d sepaTrtely from thos¢ of the charity in an inthpendently adminr5tered fimd. The pension cost L* represents contributions payable by the charity to tht fvnd and amounted to £4,494 {20￿£1.560). 211. Related p*rty tT811$4etio 371Page