Charity Thumber.. 1198609 CELEBRATION CHURCH INTERNATIONAL TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
CELEBIIATION CHURCH IKfERNATIONAL CONTENTS Reference admSnistrxtiv¢ detAi15 of the Charity, its Trustets ¥dvisèrs Tru5te¢$' report lryd¢pertdent Allditors. report on the fiD#neial stgtements S¢#t¢m*t of finAnci41 aclivitics 12-15 16 BAIAnct sheet 17 Statement of Cash tlows 18 Notes to the finxncial Statements I37
CELEBRATION CHURCH INTERNATIONAL REFERENCE Af4D ADMINISTRATIVE DETAILS OF THE CHARrrY AND ri3 TRUSTEES FOR THE YEAR ENDED 3OJUNE 2025 Twstegs Pastor Peter Joseph Usikpo Pastor Oyinkansola Esther Odunlaml Resigngd 30th April 2025 Okeoghene Godswlll Mba Ajoke Emekene Adeo13 Solomon Bartholomew Appolnted 191 May 2025 Charity registered number 1198609 Prln¢ipal office 167-469 GTrat Portland Streel Floor London W1WSPF Ghief executlve officer Pastor Peter Joseph Usikpo Independent auditors Stephen Mlehael As$o¢lates Chartared Certified Accountants Statutory AuditOTS 201 Borough High Stra•t London SE11JA A¢countanl$ Avlnu Consulting Llmttad 85 Great Portland Street London W1W 7LT Bankers Lloyd$ 25 Gresham Street London EC2V 7H 31Pag
CELEBRATION CHURCH IKfkRNATIONAL TRUSTEES, REPORT FOR THE YEAR ENDED30 JUN£ 2025 The Trustees Psent their annual report together with the financ[ stalemenls of Ihe Celebration Church Intemational for the year 1 July 2024 to 30 June 2025. The Trustees wifirm that the report and financial slatemenls of the Charity have been prepared in acwrdance with the attounling policies Sel out Sn note 1 to Ihe accounts and comply wilh the governing documenl of the Charity, the Charities Act 2011. and Accounting and Reporting by Charities.. Statement of Recommended Practice awicable to charities preparing their accounts in accordance wth the Financial Reporting Stanilard applicable in the UK 8j Republi¢ of Ireland IFRS1021 leffe¢tive 1 January 2019). Reference and administrative information set out on page 3 fom)s part of thls reporL Oblectlvas aftd actlvltles a. Policies and objectlves The objects of Ihe Charity are: A) To 8dvan¢o the Christian R6ligion for the benefit of th8 public in th8 Unlled Kingdom and else%th8r8 In accordance with the doclrrnes sel in the Holy Ble, through: i The holding of prayer meetings. broadcastillg of Ghrislian message5 05 an evafigelistic and teaching nalure.. and producing andlor dislribuling liler8lure to enlighten others about the Chrislian faith. ii. The provision of pastoral care and caryin9 Out gvsngelistie and outreaeh work in the Community- B) The relTef of financial hardship among people wlhin the Church or th8 ggographical community In 1¢ 11 operates and any part wlhin the United Kingdom. Ihrgugh.. l. Provldlng relief and assistance lo families and people In need of finaroal support, . Providing support to residents wilhin Lonth)n who are vicbms of natural disasler by supplylng them wth fccl and baC needs: C} To promote other charitsble activities associated wth the Celebralion Church for the benefil ofthe communty in London. United lfjngdom an(1 ulbmatdy worf¢fviide. The Trustees confirm that they have referred Its the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectnies. in planning future aclivities, and in the decision-making policy in allocating funds for the year. In (%rrying out this review the Tnjstees has met its duts'es in complying wtth Iheprovisions of seclions 4 and 17 of Ihe Charf(ies Ad 2011. having due regard to Ihe Charity Commission's general guidance on public benefit. Consideration h8s been given lo the Charity Commission's public 8dvtce on advancing religion for the public ben8frt. 41PagL
CELEBIiATION CHURCH INTERNATIONAL TRUSTEES. REPORT{CONfJNUED} FOR THE YEAR ENDED30 JUNE 2025 Objgctlves and activities (Continued) b. Strategies for achieving oblectivos We offer a place of worship to hokl prayer meetings, teachings and various programme5 for the general public and our existing members. We have Ihe thildren's church. where we nurture children and youn9 people to follow the tea¢hings of Jesus Christ and guide them to grow inlo responsible future leaders. The adults are trained through a membership class and olher training offered for developing and building spiritual strengih an(J stability in them. Our mission is to equip every adult lor the woth of the kingdom of God, and lo make a positive impad in fheir farTulies and wmmunilies. We broadeasl our tèa¢hings and seNice$ on social Media whore we reach more people online in addition lo those attending the place of worship. Sweral messages are recorded on audiolvideo recordings in order to give out forfree to all visitors and especlally new members who want to grow in their spiritual lives. We also pruce tracts and publish books forthe tenefitof the public church members. These are disln"bulÈd mainly during outreachlevangelism on the streets, and in Ghurth. lo church members end wsitors. We also have all the above for children. who are specialty trained and nurtur8d as Celeb Kld8. We provide Pastoral care for IndNidua15 and families our members. visitors from the pub]ic or other [L¢est we receive needing support. We offerspirilual counselling and prayers forthose experiencing gmoL¢onal & psychological challenges. We provide them with the necessary Infr)mwlion as much as possible and [er them to other organi5ations and agencies that will furthor meel their needs. We go on personal visits to mernt$ who are bereaved. sick in the hospitsl or experiencing uMa, to express our love. care ar*d comforling arm& Thos8 who are lebrating n¢w birU)s, malageS, etc. are also supported as much as possible. We relieve financial hardship for members or connected people who seek our support. Young peDe within Ihe church have received significant physical support with food and paying for their accomm¢Jtsbon wlhitt our resources. in the interim. As a Ghurch, we will arise to off¢r 433istsnce in any fom of unseen CIrmStanceS Ihal may occur In all communilies where we are located in the Uniled Kingdom. As a church, wa will arise lo offer assistance in any fom of unseen circumstances that may occr in the mmunity we a located in London. We will promote other charitable activllles associated with the purpose of Celebration Church. These include workt'ng in partnership wsth collaboralion wlh other Churches. Charities. Schools and govemmental agencies that will serve the interest of our members and immediate community.
CELEBRATION CHURCH INTERP4ATJONAL TRUSTELS, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 Oblectlve$ and actlvllles Icontlnuedl e. Activitses undertaken to achleve objectives Providing 8 place olworshlp Pastoral care, outreach Providing general welfare arKI financial supp)rt to those in need Conferen¢es & Events Media ActItIeS. d. Volunteers The charily is grateful for the unstinting efforts of ils volunleers who are involved in service provision on a weekly basls.11 is estimated that over 52.000 volun188r hours across 7 Campuses were provtded during the y&ar. If this is conservalively valued at £12.21 an hour. the volunteer effort amounts to over £634,920. The pastors of each campuslbranch act Bs volunteer wordinalors for the charity to ensu that Ihe best vatve 18 derfved from the slerling efforts of our volunteers. . Main activities undertaken to further the Charity's purposes for the public benefit Celebration Church Irktemational exists to advance the Christian faith for the benefil of the entire public the United Kingdom Ihrwgh the broadcasting of Christian messages arKI music, holdirKJ prayer me8tings and much more. Achievements 4nd perfomianee . Key performance indicatows Our key performance indicators are the number ofcampuses we are able lo establish across the United Kingdom as well as Ihe number of people whoattend thg church forthe firstlime aThJ gel converted Into bec0ftn9 members of the d)urch. 61Page
CELEBRATION CHURCH INTERNATIONAL TRu&fEES' REPORT{CONTINUED> FOR THE YEAR ENDED30JUNE2025 Achlevements and perfomiance (¢ontlnuèdl This year, Ihe ¢hur¢h was able to plant kn more Gampuses in East London and Birmiroham. as well as one more 11 church in Bristol, United Kingdom during this financial year. Ajtogether, we have experlenced more gro in church membership. b. Review of activitiès Amongst all Ime vèrious activities Ihe church is Involvefl in. below is a brief summary outlining a selection of the different activities the church members and leaders havg aclivgly partiCiP818d in.. Reboot Camp.. An annual camp rrknng of celebrallon church global. where all celebration church camwses around the wortd converge to pray, Sludy and worship in preparation for the new year. Hangout: This is an eventthal happens at specific times of the year, for members of the church lo come logelher as a fomi of fellowship and a way to play as well as bond over food and games. Apostolic Vi$it.. This was a meets'ng with Ihg Lead PastorofCeEebralion Church Inlemation81, Apostle Emmanuel Iren to strengthen the church in the faith. Weekly evangellsm: As a Ghurch, we go oul lo preach the gospel to people on a weekty basis. Algorithm= This Is 3 corporate event that took place once Ihls year. to help members of the church gain more n0edge on how to apply forjobs. scaie professionally aTKI succeed in the corporate wodd. MAP meIng$.. Thls is a monthly Maet and Pray event, where members who live in close proximity across the UK come togeth&r for a lime of fellowship. This meeting takes place in each cluster once a monlh. RISE: The pastorale and leaders of each campus make a deeision for 811 members in that campus lo moet together for a wgll, themed 'ftlSE' spend the nSghl Sn prayers. Overture: This is an annual meet which happens across all campuses on the 31st of December into the 1st of January. The purpose is to fellowship and prdy together into every new year. Young & Free: This is a meeting initiated to help strengthen marriages. as well as guide unmarried members of the church in pursuing 9odly ielatiorkships. Col•for¢e Dinner: This is an annual event which happens across all ¢ampuse5 to appreciate the woikforce of the church. and lo bring them up to date with a progress r8ry)rt al campus levels. 71Pag¥
CELEBIUTION CHURCH INfERNATIONAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR EI NDED30 JUNE 2025 c. Investm¢nt pollcy and perfomianco Thg trustees have decided that at pros6nL funds should be relalned in Bank8 and PayPal, an online payment system. Any change In such banking arrdngements should be agreed by the trustees. Fln4nGlal VIeW . Going concern After making appropriate enquiries. the Trustees have a reasonable eXptatton that the Chaiity has adequate sources lo continue in operational existence for the foreseeable fulure. For this reason. they continue lo adopt e going concern basls in preparing Ihe financial slalements. Further details regarding the adoption of Ihe going concérn basis tAn be found in the accounling polides. b. Reserves policy Thg Iru5lfjes have established a pdicy wheretythè unreslricled funds nol committed or invested Wb targibla fixed assets I'the free reserves'l held by ihe church should be three months of annual expenditure. At this level. the trustees f861 that they would be able to continue th8 current actiMli8s of the curch in the event of a sigrnficant dr¢)p in funding. Thè ch8n$ free resefves amount to £704.435 in 2025 (2024- £363,717). vthi¢h exceeds the target level based on average annual eXnditra. Risk managgment The Trustees have assessed the major risks to which the charity is exposed. in parucular those rel8led to the operations and finan of the Larity. and are sati%fied that systems are in Fa lo mitigate our exposure lo Ihe major risks. d. Prin¢ipal funding This is provided mainly through voluntary tithes and offerings by the church members. Pledgesld¢)nalions are also taken for specific proje¢l$. 81PJ2e
CELEBRATION CIIURCH INTERNATIONAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 structure. govemance and management . Constitutlon Celebration Church Intem81ional CIO is a registered charity. llumber 1198609, and is constiluted by the Commission. b. Methods of appointment or election of Ttuslees The management of th8 Charity is ihe responsibility of th8 Trustees who are elected and ¢O<fypt¢d under Ihe terms of the CIO Model Congtitulion. c. Organl$atlonal Structurn and d•¢l$lon4naking policies The church is organised so thal the Iru5tees meet regularly to managa its affairs. Thè Executive Pastor manages the day-to-day administration of Ihe church. d. Poll¢les adopted for tha inductlon and training of TStee$ The InduGtion process for any newsy appolnted member of the Trusiees comprisos an inial meating wlh tha Chair and other Trustees, followed by a series of short meetings ¥Mth Ihe Minister in Charge on the powers and responsibilÉbes ot the Trustees. fr. Pay pollcy for key management personnel The Iruslees consider th81 Iruslees and the executive pastor compTiS8 the key management personnel of the charity in charge of directing and controlling. running, and operating the Trust on a day-104ay basis. All Iruslees give iheir time freely in their capacity as trustees. The pay oflhe charivs senior stsff is detemiined bythe Iruslees and is typically increased to account for inflation, based on the lalesl Consumer Price Index. Plans are in place to benchmark this remuneration against similar- sized charities in the future. 91PaLJL
CELEBILiTION CHURCH TERNATIONAL TRUSTEES. REPORT (coNfJNI UED) FOR THE YEAR ENDED30 JUNE 2025 Structur4 governAnce and (tontirtued) f. Plans for future periods The church continues lo explo various ways of spreading the gospèl of Christ in an effective manner. The Charity is also looknng to grow in membership and continue lo develop Ils members lo make 8 life changing pact in sorAety. IOIPag
CELEBRATION CHURCH INTERNATIONAL STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees 8re responsible for prepadng the Trusiees. report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards Iuniled lQngdorn Generally Accepted Ac¢xyJnling Pr8cticg1. The law applicable lo charities in England & Wales requires the Tnjstees lo prepare financi81 statements for each financial year which give a true arbd fair view of the stale 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 finan¢ial 5talemenls. the Trustees are required lo.. select suitable ac£ounb'ng rKAictes and then apply them nSIstenI[y,. observe the methods and princ3pl8s of the Chariiies SORP IFRS 1021. make judgments and accounting 8$1imates that are reasonable and pnjdent. state whether applicable UK Accounting Standards IFRS 102> have been followed, subj'ect to any material departures disdosed and explained in the financial siatements., prepare the financial slalemenls on the going concem basis unless it is inappropriate to presume that the Ch8rity will ¢onlinue in business. The Trustees are responsible for keeping adequate aUnting records Ihal are suffirAenl lo show and explain the Charws transactions and disclose with reasonable accuracy at any time the ffnancial position of the Charity and enable Ih8m lo ensu that ihe financial statements comply wilh the Charities Act 2011. the Charity IA¢counls and Reports) Regulations 2008 and th8 provisions of the Trust deed. They are also responsib18 for saleguarding the assets of the Charity and hence fc takj'ng reasonable steps for Ihe preventron and detection of fraud arKI other irregularities. Disclosuré of Inforniation to auditors Each of the persons who are Trustees at the lime when this Trusiee5' report Is approved has confimied that.. so far as Ihal Twstee is aware, there is no releyant audit infomation of which the charity's auditors are unaware. and that Tnjsleg h8S taken all thg Steps thal ought lo have been taken as a Trustee in order lo be aware of any relevant audit information and to establish that the drity's audilors are aware of Ihat information. Audltor8 The auditors. Slephen Michael AstateS. have indicated their lIlIngneSS to continue in office. The designated Trustees 1[ proposg a mots'on reappointing the auditors at a meeting of the Twstees. Approvad by order of the member5 of the board of Trustees cffl29TH APRIL: 2026artd stgned on their behalf ty. Pastor Peter Joseph Usikpo Ok8oghene GodsMII Mba
CELEBRATION CHURCH If4TERNATtONAL INDEPENDENf AUDrroRS3 REPORT TO THE TRUSTELS OF CELEBRATION CHURCH IKfERNATJONAL Opinion We have audited the financral ststements of CeFebration Church InternatK)n81 (the 'charty'l for the year ended 30 June 2025 which comprise the Statement of financial 8clivtlies. the Balance sheet. the Slalemenl of cash flows and the related notes. induding a summary of sSgnifieanl ae£ounting pollcles. The financial reporting framework Ihal has been applied in their preparalion is applicable law and Uniled Kingdom Accounting Slandards, including Financial Reporting Standard 102 The Finan(ial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Genoralty Accepted Accounting Practice). Thè financial statements have been prepared in accordan wtih AcCA)ling and Reporting by Charities pparing Ihelr accounls in accordance with Ihe Financial Reporting Standards applicable in the UK and Republic of Irelan(J (FRS 1021 in Preferen to the Accountlng and Reporting by Charitles.. Statement of Recommended Practice Issued on 1 April 2005 whiGh is referred to in the extant regulations bul has been withdrawn. This has been donè in order for the accounts lo provide a te and far view in 8ccordance with the Gener811y Accopled Accounting Practice effective for reporting periods beginnlng c*) or after 1 January 2015. In our opinion the finatioal 8tslements'. give a true and fair vlew of the slate of the charilWs affairs as al 30 June 2025 and of its incoming resources and opplication of resources forthe year then ended- have been property prepare(l in accordance with United Kingdom Generally Accepte(J Accounting Pr8clice; and have been prepared In accordance with the requirements of the Charities Act 2011. Basts for oplnlon We conducted ourauditin accordan wth Intemation81 Standards on Auditing {UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are fvrther deSl)ed in th8 Auditors. r8sponsit>ilities for thè audii of the financial slalements sects'on of our report, We indeperent of the charity in accordance with the ethical requirements that are relevant to our audit of the finanaal statements in the United Kingdom, induding the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilib'es in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo pfomde a basis for our opinion. Conclusion5 relating to golng con¢ern In auditing the financial statements. we have concluded that the Trustees, use of the goiw concern basis of accounting in the preparation of the financial ststements is appropriate. Based on Ihe work we have perfomRd. we have not identified any material uncertainlieg relating to events or conditions that. individually or colleclively. may Cast slgnlficant doubt on the charitls ability to continue as a going concem for a period of at least Iwelve month5 when Ihe financial statements are aulhorised for issuè. 121 Pd&pL
CELEBRATION CFIURCH INTERNATIONAL INDEPENDEPIT AUDrroRS' REPORT TO THE TRUSI'EES OF CELEBRATION CHURCH INTERNATIONAL Ourfesponsibililies and the SponsIbl1111eS of the Trustees respgcttogoing concem are descnl)ed in Ihe relevant sections of Ihis reporL Other Inforniation The olh9r infomialion comprises the infomiation included in tha Annual report oiher than the finanoal stalemenls and our Auditors, report thereon. The Trustè8s are responsiblg for the oth9r information ¢ont8ined within the Annual reporL Our opinion on the finanual statemenls does not cover the other information and, excepl to Ihe extent otherwse explicitty stated in our report, we do not express any form of assurance eonclusion thèreon. OUT respgnsibility is to read the other information and, in doing so, consider whether the other information is materially Ino)nsislenl th the financial statements or our knowledge obtained in the course of the audit. or Othe$ appears to be materially misst*ed. If we identify such material inconsistencies or apparenl material misstatements, we are required lo determine whether this gives rise lo a material misstatement in the financial ststements themselves. If. based on tho work we have perfomied, we condude that is a maiefial misstatement of thi$ other Infomiation. we are requid to report that facL We have IhIng to report in this regard. Matters on which wo are requlrgd to report by ex¢eption We have nothing to report in speCtof Ihe following matterswhore the Chariti8¥ (Acojunts and Rett)rts) Regulations 2008 requires us to report to you if, in our opinion= the information given in the Trustees, report is inconsistent in any material respect wtth the financial slalemenls., or sufficient accounting rgcords havè not been kept., tx the financial ststements are not irÈ agreement with the accounting records and retum5- or we have not received all the information and explanalions we rewire for our audit, Respon$ibilitie$ of trustees As explained more fully in the Trustees. responsibllilies slatemonl, the Truslegs are responsible for the preparation of the financial statements which give a tnje and fair view. arbd for such itrtemal ntrol as the Trust88s determine Is necessary tr) en¥ble the preparation of financial slatements that are free from material mi55talemenl, whether due lo fraud or error.
CELEBRATION CHURCH INfERNATIONAL INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CELEBRATION CHURCH JP¥'TERNATION'AL In preparing the finana81 slalem8nls. the Trustee5 are r&sponslble for assessiThJ the charity's ability lo continue as a going concem, disclosing, as app4icable. matters related to going cortcern and using the going concem basis of accounting unless the Tnsstees either intend to 'quIdate the charity or to cease operdlions, or have no realisti¢ ahemalive but to do so. Auditors. r•$ponsibilities for the audit of the financial $tOtements We have en apwinted as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevanl regu18tions made or having effect Ihereunder. Our objectives are to obtain reasonable assufance at)out whether the financial ststemenls as a vthole are free from material misslalem8nl. whether due to fraud or error, and to issue an Auditors, report that inclu¢Jes our opinion. Reasonable assurance is 8 high level of assurance, bul is nol a guaffjntee Ihal an audit conducted in accordance wtlh ISAS IUKI will always detect a material misstalemenl when it exists. Misstatements can arise from fraud or error an¢J are considered material if. individually Of in the aggregale. they coukl reasonably be expected lo influence the ecorKJmic dgcisions of users taken on the basis of Ihese financial slalements. lThegularilies, including fraud. are instances of rK)n-compliance with laws and regulalions. We design prttedures in line wtth our responsibilitias. oulline(18bove, to delecl material misstslements in respect of irregularities, including fraud. The extent trj which our procedures are c8p8ble of delecbng irregularities. induding frdud is detailed below.. We identified areas of laws and regulatior that could reasonably be expected to have a material effeol 00 the financial statements from our sector experience thrcsugh discussion wth Ihe Tw$l¢es and other management {as required by audf(ing slandard$}. We had regord lo laws and regulations in aa$ that dlrectly affect the finanal statements IncludSng financial reporting and taxation199lslatn. We considered the extent of compliance with those laws and regulations as port of our procedure on the lated finanaal slalement items. With the exception of any known or possible non-complian, and as required by auditing standards, our work in respect of these was limited to enquiry of the TnJstees, We communicated identified laws and regulations thrt)ughout our team and mained alert lo any indications of non<0mplian thr(whout the audit. We addressed the risk of fraud through management override of controls, by lesting Ihe appropriateness of journal entn.es and other adSuslments', assesslng whether the judgements made in maknng accounting estimates are indicalNe of a potential bias- and evaluating the business rationale of any significant Ir8nsactions that a unusual or ottside the nomial course of operation. 141Pag
CELEBRATION CHURCH IIYTERNATfONAL INDEPENDETrrf AUDITORS, REPORT TO THE TRUSTEES OF CELEBRATION CHURCH IhTERNATIONAL Our audit proureS were designed to respond to risks of material misstatgment in the ffnanryal slalements. recognising that the risk of not detecting a malerial misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate cOnalment by. for example. forgery. mtsrepresenlations or through collusion. There are inherent limitatlons in Ihe audit procedures performed end the fijrther removed non-compliance with laws and regulations is frorn the events and transactions reflected in the fjnancial stslements. the less likely we are lo become aware of it. A further description of our responsibilities for the audit of the finanual statements is located on the Finanaal Reptsrting Council's websTte at.. www.frc.org.uklaudilorsresponsibililies. This description fomis part of our Audilors, report. U¥e of our report This report is made solely trj the charity's trustees. as a body. in accordance with Part 4 of the Charities {ACcnIS and Reports} Regulations 2008. Our audit work has been undertakgn so that we might stale lo the chaws trustees those Matte we are required to slale lo them in an Auditors. report and for no other purpose. To the fullesl exlenl pemiitted by law, we do not accept or assume SponsIbl11ty to anyone other than the charity and ils trustees. as a body, for our audit work. for this report, or for the opinions we have fomied. Stephen Michael Associates Chartered Certified Accountants Statutory Auditors 2018orough Hl9h Street London SE1 1JA Dale: Stephen Mithael Associates are eligible to as auditors in tem* of section 1212 of the Companies Act 2006.
CELEBRATION CHURCH INfERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES VOR THE YE.4R EP4DED 30 JUNE 2025 Restricted Unrestricted Total funds 2025 Total funds 2024 funds 2025 fund 2025 Notes Incom8 from: Donations and legacies Investmen 24,077 1.889.626 255 1.913.703 255 1.462,5CN) Total Incomo 1.889,881 1,913.958 1.462,500 Expendlturo on: Chafilable aclivilies 26,436 L506,743 1,533.179 1,103,554 Total axpenditur• 26.436 1506 743 1.533.179 1 103 554 Nel movement in funds 2,359 383.138 380.779 RECONCILIATION OF FUNDS: Tolal ftjnds brought forward 2.359 454.282 456,641 97,695 Nel movement in funds 12.359} 383,138 380.779 358,946 Totsl funds Carried fonyard 837,420 837.420 456,641 The $t2tÈmertt of fin#nttAI attivities intllldes all g*ins lossès retoenised ith the ye#r. The notes OTr pA%es 19 to 37 form part of these financial 5tstementS 161 PJ¥TL'
CELEBRATION CHURCH It+rrERNATIONAL BALANCE SHErr AS AT 30 JUNE 2025 2025 2024 Notes FIXED ASSET Tangible Fixed Asset 10 132.985 90.565 CURRENT ASSETS Debiors 11 570.870 159.S89 304.117 104,330 Cash al bank arKI in hand 730.459 408.447 CREDITORS.. due withln one year 12 CURREKf ASSETS 366.076 TOTAL ASSET LESS CURRENT LIABILMES 837.420 CHARrrY FUNDS RestrlGled funds Unrestri¢tsd funds 2,359 454.282 14 837 420 TOTAL FUNDS 837.420 456,641 Th¢ financial Statements were approved authorised ftsr issue by the Trustees and signed on their behalf by= Okeoghene Godswill Mba Date.. 29th ol April. 2026 Th¢ notes on pAges 19 to 37 form p¥rt ofthese fJAanei*l statements 171Pa
CELEBRATION CHURCH TKfERNATIONAL STATEMEKT OF CASH FLOWS FOR THE YEAR ENDED 311 JUNE 21125 STATEMENT OF CASH FLOWS Total 2025 Tolal 2024 Cash flows from operaung activltles Net cash used in operating acliwties 110237 Cash flows from Inve$tSng activltles Proceeds from the se of tangible fLxed assets 3.000 Purchased of tangible fixed assets (72,6871 166.8301 Net eash (usod in)Iprovlded by Investing activitie$ 72,687 63.830 Cash flows from financing activities Net cash used in flnancing activiii05 Change In cash and cash equlvalgnt In tha yaar 55,259 48.407 Cash and cash ¢qUiWdlents al the beginning of the year 104,330 57.923 Cash and equivalents at the end of the year 159.589 104,330 The not&$ on pxgts 19 to 37 fom p*rt of thest fiDatteial statemettts 1811)aqL
CELEBRATION CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STAI"EMEf*TS FOR THE YEAR EN'DED30 JUNE 2025 GÈner#l informatio Cclcbration Church International is acharitable incor)ral organisation registered with the Charity Comm¥ssioll in England & Wales. The office address is 167-169 Gre&t Portl8nd Stree15th floor. London.Wl W SPF. Accounting polieles 2.1 B8si$ of preparation of fiNAneial staiernents The finincial statements have been prepared in accordance with the Ch&riiies SORP (FRS 102)- Accounting and Reportingby ChaTities.' Statement olRecomrnended PracliceapplscabletocharitiespreparÈngtlieiraccounis in accoTdance with the Financial Reportin8 Standard applicable in the UK 2nd Republic of Ireland (FRS 102) (effe1¥¢ l January 2019). the Financial Reporting Siandard applicable in the UK and Repiiblic of Ireland (FRS 1021 and the Charitie5 Act 2011. The financial statements have been prepared io wve a'lrne and fail view and have d¢rted from ihe Chariti¢s (Accounts and Repons) Reglllations 2008 only to the ¢xt¢nt required to provid¢ a 'iru¢ and fair, vi¢w. This departure has involved folloiviiig die Chariiies SORP (FRS 102) publÈshed in Oclokr 2019 Tatlier than th¢ Accounting and ReporLing by Chariti&s'. Stsiementof RecommeThJed Practice¢ffeciive from l April 2005 whi¢h has $in¢¢ been witlidrawm. Celebration Church Intem&titsn•l CIO meets the definition of a public b¢nofit ¢ntity under FRS 102. Asse and liabilities ÈtiitiaIly recognised at historical cosi or tr8n5action value unless otherwise ststed in the relevant aGwuntin8 policy. 22 In¢om¢ All income is 0£ISed once the Charity has entitlement thc inc¢Jme. Trt is probablc that the in¢om¢ wll b¢ r¢¢¢iyed and the amounl of incom¢ receivable can be Measur reliably. 2.3 Exponditure EXndite 1$ wognlsed once there Ès a legal or con5tntctive obligation to transferenOMiC benefLt io a third paty, it is probable that a transfer of ecortomic ben¢fJts will be rcquired in settl¢m¢nt and ihe wllouni of th obligauon can be MSed Teliably. Expenditurc is classified by a¢tivity. The costs of each activity are made up of thc iotal of direcr alid shared costs. in¢ludinE Sllpp ¢osts involved in und¢rtakig ¢ath xtivity. Direct cosrs attributablc to a sÉngle activity are allocated direcily w that activity. Shared costs which 1)rrible to more Than one activily and support Costs which arenoiattributableto a 5inglca¢iivity Are apporiion¢d IK't%veen th¢&4e activities on a b&sLS consisteni wi(h the use of re50ur¢es. Central staff costs all¢)¢ated on the b&sis OF tirne spen¢ and depre¢iatÈon charges a]loced on the portioTh of the et'S use. EXpe1)dire ¢)n ch8ritabl¢ activities is incurred on direcily undertaking the a¢tiviti&s which further the Charitys objective4 as well as any ossociatcd support ¢os¢& All pEndire is inclusiveof irrecoverableVAT. 191P41
CELEBRATION CHURCH INTERNATIONAL NOTES TO T14E FINANCIAL STATEMENT FOR THE YEAR ENDED30JUNE 2025 Atcounting policies (¢ontÈn¥ed) 2.4 Interest receib Interest on funds held on deposit is included when receivable and ihe amount can b¢ measurtd reli)bly by th¢ Charity: this hs nomially uJy)n notifilon of ihe interest ld or payable by the inStitiOn with whom the funds are deposiied. 2.5 Tartiible fjxed gssets fid depreciatio Tangible fixed 2s$ets costing £700 or more are capitstised and reeogni5¢d when future e¢onorni¢ benefits are probable and the cost or value of the asset can be Mured reliably. Tan8Lble fixed assets are tnitially recognised at cosi. After recognition, under the c05t model, tangible fixed ass¢ts ar¢ measured at cost less accumulated depreciation and any accutnulated impaimient losses. All costs incurred to bring a tangible fixed asset into I intended WOTk5ng condition sliould be included in the measurement of cost. DeprlatIOn thaTged so as to allo¢¢ th¢ ¢ost oftangible fixed usets le55 their residual value over their 5tiwn&tcd u5cful lives. Depre¢iation is provided on the followingbasis: Fixtures and fittings Computer equipment straight-line Tnethod 33% str#ight-line method 2.6 Dtbtors Trdde and other debtols are recognised at the settlement amount afterany trade discount offered. Prepayments are valued at Ihe aimount prepaid net of any trade discounts due. 2.7 Cash at bnlL had Cssh at bank 2nd in hand Éncludes cash and short-temi hiBhly liquid investments with a short maturity of three months or less From the date of acquisition or openin¥ of the deposit or siinilar account 20IPJgL'
CELEBRATION CHURCH INTERNATIONAL I OTES TO TIIE FINANCIAL STATEMENTS FOR TIIE YEAR ENDED30JUNE 2025 2.8 Liabilities and provis¥oLs Liabiliti¢S 8re recognised when ther¢ is an oblig&tion at tlie Balanc¢ shL*i dale as a re5uIi of a past event, Lt is probabl¢ thai a transfer of economic benefit will be requircd in settlemen¢. and th¢ amount ofthe settlemeol ¢¥n be esti1ned reliably. Liabilities are recogn15Ed at th¢ amount that thc Chariry anfi¢ipaies It will pay to settle the debt orthe amount it has r¢c¢ived as advanced payments ftir ihe go¢)ds or services it must providc. Provisions are measured at ¢ht best estimate of th¢ amouiits required to scttle the obligatjon. Whcrc thc cffcct of the tSTne value of moncy is matthal, the provision is based on the present value of those amounts. discounted at the pre-tsx discount rate that reflects the risks specific to the liability. The unwinding ol the discount is r£cognise41 in th¢ Ststement of financial &¢tivities as a finance cost. 2.9 Finxneial instruments Thc Charity only has fJnan¢ial a5scts and finpn¢ial liabili(i¢s of a kirtd that qu1rY as basic financial instrumertls. Basic finan¢ial insirutncnts arc inttially rewgnised at tTan5aciion value and 5ubscquently measured ai their settlement value with the ex¢¢ption of bank loan5 whtch aT¢ $ubscqu¢ntly measured at atz]ortiscd ¢05t using the effective interest method. 2.10 Pensions The Charity operates a defined contribution pe810Th scheme and the pension charge represents the am¢)unts payable by the Charity to the fi)nd in respect of theyear. 2.11 Fund accounting General funds are unre5triCted fiujds which are available for use & the discretion of the Trustees in fiJrtheranc¢ of th¢ general obje¢tiv&s of the CharÉty ld which have not been designated for oih¢r putpos¢ Restricted funds arc fijnds ivhicl) are to bs used in accordan wilh spe¢ific rc5trictioiis imposed by donors OT thich have beeTr raised by ¢h¢ Charity for particularpurposes. The costs of raisinu and adininisieringsu¢h funds art charged against the specific fund. The aim and use of each restrtcted fvnd is set out Ért the nok$ 10 thE financial stat¢menL
CELEBRATION CHURCH INTERNATIOP4AL NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENJ)ED 30 JUNE 2025 3. Income from donation and legacies R•strictod Unrastrict8d Total fund$ 2025 funds fund 2025 2025 Voluntary donations Church Coifedon Gift aid lax recoverable 24.077 1.623.190 266 436 1.647,267 266.436 1.913703 1,889 626 Restrictod Unr•strict•d funds fund Total nd$ 2024 2024 2024 Voluntary donatlons Church Collection Gift aid tsx recoverable 32.143 1.127,646 302711 1.430.357 1,159,789 302711 1.462.500 32.143 4. Investh)ent Income Unrestricted fund 2025 T¢)tsl funds 2025 Bank Interest 25S 255 255 255 221PaLpe
CELEBRATION CMURCH vprfERNATIONAL NufES TO THE FINANCIAL STATEMENTS FOR THE YEAR EfqDED 30 JUNE 21125 5. Anoly5i5 of expenditure on chaTitable activitses Summary by fund type Restricted Unrastrictod funds funds 2025 2025 Total funds 2025 Advancement ol Christian Faith 26,436 1506 743 1.533.179 Restri¢t•d Unrestrictsd funds funds 2024 Total lund$ 2024 2024 Advancement of Christian Faith 1051,099 1 103 554 231Pai?e
CILEBRATIOP4 CHURCH tpirERNATION'AL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 6. Analysis of •xponditur• by activltJè$ Acllvltles undertaken Support osts Total funds 2025 directly 2025 2025 Advan(Ement of Christian Faifh 794,608 1.533.179 livltles undertaken dlreetly 2024 Support costs Total funds 2024 2024 Advancement of Christlan Fallh 552,519 551,035 1,103.554
CELEBRATION CHURCTrI iTrrfERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED30 JUNE 202) 6. Analysis of expenditure by¥4Ctivities(tontiDued) Analysi5 of direct cost Advancemen of Christian Faith 2025 Total Funds 2025 Staff costs Ministy expenses Outburst and inslrumen181ists Evangelism and spgGial events Charitable donallons lo organisation8- UK Charitsble donations lo organisations- Resl of the Wodd 121.815 278.003 229.176 73,445 500 35.632 738.571 121.815 278,003 229.176 73,445 500 35.632 738,571 Advancement of Christian Faith Total Funds 2024 2024 Staff costs 88,175 211.870 142.867 81,297 425 27.885 552,519 88,175 211.870 142,867 81,297 425 27.885 552.519 Ministry expense5 Oulbursl and inslrumenlalists Evangelism and special events Charitable donations to organisalions - UK Charitable donations to organisations - Rest of the Worfd
CELEBRATION CHURCH INfERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 & Analysis of expendituré by#ttivities(totttirtued) Analysi5 of support costs Advan¢•ment of Christian Faith Total Funds 2025 2025 Staff costs Travel and accommodation Ministry expenses Bank charges Office and administration costs Professional fees Communication and advertising costs Govemance costs Premise5 Costs 41.644 143.840 43.253 1.340 5.849 10,008 7.815 14,600 495,992 30.267 41,644 143,840 43.253 1.340 5.849 10,008 7.815 14.600 495.992 30267 DepreciaEion 794.608 794.608 261PaLIL
CELEBiiATION CHURCH INTERNATIONAL NOTES TO THE FINANCTAL sfATEMEKtS FOR THE YEARENDED30 JUNE 2025 & Analysis of expenditure by activities(continued) Anthlysis of Support costs {continu¢d) Advancement Of Christian Total Faith Funds 2024 2024 Staff costs Travel and 8ccommodation Ministry expense8 Barlk charges Office and adminislralion costs Professional fggs Communication and advert15in8 Costs Govemance costs Premises costs Depreciation (Gainlllossl on disposal of assets 23,137 108,965 52.067 1.212 5.161 7,577 22.522 15.113 299.169 16,699 23,137 108,965 52,067 1.212 5.161 7.577 22.522 15.113 299.169 16,699 {587} (5871 551,035 551.035
CELEBRATION CHURCH tNTERNATIOP4AL P4OTES TO THE FINANCIAL STATEMENrs FOR THE YEAR EIYDED 311 JUNE 2025 7. Auditors. and indèpendent examinerfs remuner*ion Audltors. remuneratlon 2025 2024 Fees payable to the Charity's auditor for Ihe audit of the Charitys annual aOuntS 6,480 Fees payable to the charitS auditor in respect OP I non-audit serVIS not induded above 1,320 28IPa&y
CELEBIL4TION CHURCH IprfERJ¥ATIONAL 'OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED30 JUIYE 2025 8. Staff costs 2025 2024 Wages and salaries Social SeIlty sts Contribution lo defined pension sthemes 146.931 10.714 5.814 163,459 101,532 5.286 4.494 111.312 The average numbèr of persons employed by the charity during Iho year was as follows: 2025 2024 No. No. Pastors Churth adminlstrattron Th¢ numkr of employees whose employee benefits {¢xcludin8 employer pension costs) exceeded £60,000 was O (2024.. 0). 2911)
CELEBRATION CHURCH INfERNATIONAL NOTES TO THE FINANCIAL FOR THE YEAR ENDED 30 JUNE 2025 9. Trustees. remuneration 8nd exp¢nses Dring the yrAr, onc or more Trustees hls beert paid remuneraiion or has received other benefits fmm aA employmeni with the Charlry for his post as the church mini51er which is authoriztd in the constitution. The valLK of TTu5te¢s' remuneration and other benefits was as follow5.. 30 June 30 June Pastor Peter Joseph Usikpo 2025 2024 Remuneration pairj Pension eA)ntiibulions patd 39,8(k8 1,470 36.0 1.440 During the ye*r ended 30 JDnt 2025, llt) Trustee expeDs¢s b#v¢ betn ill¢Yrd (2024- NIL). 30IPagL'
CELEBRATION CHURCH INfERD4ATIONAL NOTES TO THE FIPIANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 202) 10. TangÉble fixed assets Flxturès. Flttlngs and Equipment 2025 Total 2025 Cost or valuatlon At l July 2024 108,505 108.505 Additions 72,687 72,687 Disposals At 30 June 2025 181.192 181 192 Depreciatlon At 1 July 2024 {17,9401 {17,9401 Charge for the Period (30,2671 {30.2671 Disposals At 30 June 2025 Netbook value At 30 June 2025 132.985 132,985 At 30 June 2024 90 565 90.565 11. DebtOTS 202S 2024 Due within one yeai Prepayments 1.722 1,406 Tax recoverable 569.148 302 711 570,870 304,117
CELEBRATION CHURCH IKfERNATIONAL NOTES TO THE FINANCIAL STATEMETrnS FOR TIIE YEAR ENDED30JUNE 2025 12. Creditors: Amounts falling due wlthln one year 2025 2024 Trade Creditors Other taxation and social security Penslon fund Payable Other creditors Accruals and deferred Income 13,602 29,898 1,914 2.192 657 602 9,300 42,371 10,230 26,024 13. Finan(•al Instruments 2025 2024 Financlal assets Financlal assets measured at falr value throuBh income and expenditure 159.589 104,330 Financial assets measured at fair value through income and expenditure comprise bank and cash balances. 321Pa&JL
CELEBRATION CHURCH ITERhATIONAL NOTES TO THE FINANCIAL STATEfvIENTS FOR TI.IE YEAR ENDED 30 JUNE 2025 14. Statement of funds Statement of funds <urrent year Balance at 1 July 2024 Totsl 2025 Income Expenditura Transfer unstrICted funds General Funds 1,889.881 11,506.7431 837.420 Restricted funds Charitable donations -Resl of the world Rent Fund 2,606 160 20.891 420 24,077 (2,6061 11601 (23.2501 420 26.436 Seed church prolect fund Welfare fund 2.359 2.359 Totil of funds 456.641 1.913,958 1,533.179 837,420 Statement of funds-Prior year Balance at 1 July 2023 Total Income Expenditure Transfer 2024 Unrestricted funds General Funds 127 724 1.430.357 11.051,0991 (s2.7) 454.282 Restricted funds Rent Fund Seed church project fvnd 7,D49 24,688 .0491 (45,0001 22.671 2.359 welfa fund 52.700 406 406 52,700 30.029 52.455 52,700 2.359 Total of funds 97.695 1462 500 1.103.554 456,841 Seed church project fund represents unexpended donations towards planting new Celebration Church campu5eslbranches.
CELEBRATION CHURCH INTERNATIONAL NOTES TO THE FINANCIAL 8TATBMFNTS FOR THE YEAR ENDED 30 JUNE 2025 15. Summary of funds- current year BaJanc• at 1 July 2024 30 June 2025 InMmo Exwndlture Transfer Unrestricted funds 454,282 1.889,881 11,506.7431 837,420 Restricted funds 2.359 24.077 26.436 456 641 1913 958 1,533.179 Surnmary of funds- prior year Balance at l July 2023 30 June 2024 Income Expendlture Transfer un¢ted furKts 127.724 1.430,357 11,051,099) {52,7001 454.282 R8s¢ricled lunds 30.029 32,143 52.700 97 695 1,462,500 1.103.554 456.641 341Pa&Te
CELEBRATION CIIURCH IIYTERNATIONAL
No'fbs TO TFIL FINANCIAL sfATEMENTS foR TFIE YEAR ENDED 30 JUNE 2025
16. Analysis of net assets between funds
Analysis of net assets beten lund$
CELEB114TION CHURCH IKfERII'ATIONAL ¢Ylf.S TO IYE FINANCIAL STATt.MCNI'S foR THE YEAR ENDED 30 JUNE 2025 17.Reconciliation of net movement in funds to net cash flow from operating artivities Total 2025 Total 2024 Net movement in funds (35 per Statement of Ftnancial Activitsesl 380,779 Adjustments fi>r: Depreciation Charges 30,267 16,699 Increase in debtors 1266,753} {304,117} Increase lldecreasel in creditors Lossllprofiil on Salè of fixed assets 116,347) 39.296 1587) Net Cash provided by operating activitie5 127,946 110.237 361Pugie
CELEBRATION CHURCH INTERNATIONAL NO'I'ES TO THE FINANCIAL STA'fEMELYfs FOR THE YEAR ENDED 30 JUNE 2025 1B. Analysls of cash and cash eouivalents Total 2025 Totsl 2024 Cash al bank and In hand 159,589 104,330 Totsl cash and cash equivalents 159,589 104.330 19.Analysis of ¢hange5 in net debt Atl At30 July 2024 Cash flows June 2025 Cash at bank and in hand 104.330 55.259 159.589 Debt due within 1 year 42.371 61,959 16.347 71,606 26,024 133,565 20. Ptnsion tommitments The ehaTiiy operat¢s a defined Contribution pension scheme. llic assets of tli¢ s¢h¢mE are held separalgly from those of the chai'iry in an independently administered fund. The pension c05t charge represents contributions payable by the thariry io the fund and amounted to £5.814 (2024-£4.494). 21. Relxted party tran5ACtion$ During the period. the charity paid Pastor Ukeme UM)whO is ih¢5pouse ofthe Chief ExUl1Ve and tru$icc(Pa$tor P¢terJosepli Usikpo). Tuiiuneraiion of £5.40012024.. £nil) and pension Contributions of £180 (2024.. £ttil) in re5pe¢t of her ¢mployrnent witli tl)e charity in her rolc as a church n?inisi¢r. 371Pob'i'