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Registered number 1207100
CHRIST APOSTOLIC CHURCH WORLDWIDE
## Report and Accounts
31 December 2024
## **CHRIST APOSTOLIC CHURCH WORLDWIDE Report and accounts Contents**
**Page** Trusteess' report Accountants' report Profit and loss account Balance sheet Notes to the accounts
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**CHRIST APOSTOLIC CHURCHWORLDWIDE Trustees' Report**
## **Year ended 31 December 2024**
The Trustees present their report and the financial statements for the year ended 31 December 2024 The financial statements have been prepared in accordance with the accounting policies set out on page6 and comply with the statement of Recommended Practice (SORP 2015) and applicable law.
a. Advancement of the Christian Faith in the United Kingdom and abroad b. The relief of persons who are in conditions of need, hardship or distress or who are aged or sick in the United Kingdom and abroad.
The principal activities of the Charity are worship and the involvement of various ministries and ministers of religion, propagating Christian tenets to both members and non-members of the ministry at various meetings.
To achieve these objectives, the trustees appointed the Board of Ministers. The ministry is invovled in Christian Outreach Programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.
## **The trustees who serve during the year were;**
**Pastor Simeon Oladokun Pastor Sunday Bamidele Asoso Pastor Adegboyega Ajidagba**
## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
Due consideration is given to what is needed to make the Board and commitee as effective as can be. Also care is taken to ensure the board has the right mix of skills and experience to discharge its duties and ensure effective governance and management. Trustees serve a term of two years which is renewable at the discretion of the Board; however, in exceptional cases Trustee may be asked to stay on for more than four years.
## **TRUSTEES' RESPONSIBILITIES**
Charity Law requires the trustees to prepare financial statements for each fianacial year which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended for that year. In preparing those financial statements the trustees are required to;
that the charity will continue in operation
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud.
## **RISK MANANGEMENT**
Trustees take seriously their responsibility to assess and manage the major risks that the charity faces and review them regulaly. A formal risk management process is in place to ensure risks are identified and appropraite mitigation actions are taken- this is captured in our Risk Management Policy.
## **FINANCIAL REVIEW**
## **a. RESERVE POLICY**
Christ Apostolic Church unrestricted reserves comprise the general fund which can be spent on any purpose of the charity and are avilable to meet future demands on the charity's resources. The trustees have determined that it would be prudent to maintain three months of expenditure to meet core expenses of the church.
## **b. PRINCIPAL FUNDING**
Individual donations and gifts continue to be the main source of income, including Gift aids credits.
## **STATEMENT OF PUBLIC BENEFIT**
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In line with requirements of the Charities Commission under the Charity Act 2011 for charities to demonstrate that their aims are for public benefit, the Board of Trustees of Christ Apostolic Chuch are confident that our aims fully meet the public benefit test that all the activities of the charity described in the report, are undertaken in pursuit of our mandate which by implication seeks to:
a) help people live a life free from fear and anxiety, allowing them to prosper in mind, body and spririt b) Improve overall well being and every life of each person
c) motivate, teach, councel and coach people to attain success in their career, family life, marriage and personal life
d) support the less privileged and needy through gifts in kind and where appropriate financial assistance; and
e) give financial support to other charities that share our values and aims as well as respond to social needs
This report was approved by the Board of Trustees on 03 November 2025 and was signed on their behalf by:
## **PASTOR SIMEON OLADOKUN**
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE INDEPENDENT EXAMINER'S REPORT**
I report on the charity for the year ended 31 December 2024, which are set set out on pages 4 to 5.
Respective resposibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. [The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by been a qualified member of Association of Chartered Certfied Accountants.
It is my responsisblity to:
. examine the accounts under section 145 of the 2011 Act;
. to follow the procedure laid down in the General Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act; and;
.to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity
comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustee concerning any such matters. The procedure undertaken do not provide all the evidence that would be required in an audit and, consequetly no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
1. 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 2011 Act; and
. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 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 accounts to be reached.
AJIBOLA LEMO LEMO CORPORATE Chartered Certified Accountants
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE**
## **Accountants' Report**
## **Accountants' report to the directors of CHRIST APOSTOLIC CHURCH WORLDWIDE**
You consider that the company is exempt from an audit for the period ended 31 December 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial period and of its profit or loss for the financial period.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Ajibola Lemo
LEMO CORPORATE Chartered Certified Accountants
815 OLD KENT ROAD LONDON SE15 1NX
3 November 2025
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE**
## **Statement of Financial Activities for the year ended 31 December 2024**
|**Incoming Resources**
Tithes, offerings
Interest
**Total Income Resources**
**Resources Expended**
Support costs of activities in
furtherance of the charity's objects
Management & Administration
of Charity
**Total Income Expended**
**Net incoming/(outgoing) resources**
**Net Movements in Funds**
**Fund balances b/fwd**
**Funds balances c/fwd**|**Notes**
6.1
6.2
6.3|**2024**
**Unrestricted**
**Restricted**
**Total**
**Fund 2024**
**Fund**
**Fund**
**£**
**£**
226,216
226,216
5,880
5,880
**2024**|
|---|---|---|
|||**232,096**
**-**
**232,096**|
|||16,545
16,545
211,273
211,273|
|||**227,818**
**-**
**227,818**|
|||**4,278**
**-**
**4,278**
**4,278**
**-**
**4,278**
**384,590**
**384,590**|
|||**388,868**
**-**
**388,868**|
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE Balance Sheet as at 31 December 2024**
|**Balance Sheet**
**as at 31 December 2024**|||
|---|---|---|
|**Notes**
**Fixed assets**
Tangible assets
3
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
4
**Net current assets/(liabilities)**
**Net current assets**
**Capital and reserves**
Profit and loss account
5
**Shareholders' funds**|**2024**
**£**
214,034
568,007
(393,173)
174,834
388,868
388,868
388,868||
||||
|||388,868|
|||388,868|
|||388,868|
The Trusteess are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
PASTOR SIMEON OLADOKUN Trustees Approved by the board on 3 November 2025
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE**
## **Notes to the Accounts**
**for the period from 20 February 2024 to 31 December 2024**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
## _**Turnover**_
Turnover represents the value, of grants, Tithes and Offering and other pledges by Various Churches within the catchment of Anosike Region
## _**Depreciation**_
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line Motor vehicles 25% straight line
## _**Stocks**_
Stock is valued at the lower of cost and net realisable value.
## _**Deferred taxation**_
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
## _**Foreign currencies**_
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
## _**Leasing and hire purchase commitments**_
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
## _**Pensions**_
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE**
## **Notes to the Accounts**
## **for the period from 20 February 2024 to 31 December 2024**
|**2**
**Operating profit**
This is stated after charging:
Depreciation of owned fixed assets
**3**
**Tangible fixed assets**
**Cost**
At 20 February 2024
At 31 December 2024
**Depreciation**
At 20 February 2024
Charge for the period
At 31 December 2024
**Net book value**
At 31 December 2024
At 19 February 2024
**4**
**Creditors: amounts falling due within one year**
Bank loans and overdrafts
Trade creditors
Other creditors
**5**
**Profit and loss account**
At 20 February 2024
Profit for the period
At 31 December 2024|**Land and**
**buildings**
**£**
214,015
214,015
-
-
-
214,015
214,015|**2024**
**£**
50
**Music**
**Equipment**
**£**
12,773
12,773
12,704
50
12,754
19
69
**2024**
**£**
282,834
4,961
105,378
393,173
**2024**
**£**
384,590
4,278
388,868|**Total**
**£**
226,788|
|---|---|---|---|
||||226,788|
||||12,704
50|
||||12,754|
||||214,034|
||||214,084|
|||||
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## **CHRIST APOSTOLIC CHURCH WORLDWIDE Schedule to the Profit and Loss Account**
## **for the period from 20 February 2024 to 31 December 2024**
_for the information of the directors only_
|**Sales**
Sales
**Cost of sales**
Other direct costs
**Administrative expenses**
Employee costs:
Wages and salaries
Honorarium
Staff training and welfare
Travel and subsistence
Motor expenses
Donations & Gifts
Premises costs:
Rates
Light and heat
Ordination
General administrative expenses:
Telephone and fax
Postage
Stationery and printing
Books and Periodicals
Information and publications
Subscriptions
Bank charges
Insurance
Events, Retreat & Confrences
Media & Evangelism
Hotel Accomodation
Repairs and maintenance
Depreciation
Youth programme
Legal and professional costs:
Security Expenses
Accountancy fees
Solicitors fees|**2024**
**£**
226,216|
|---|---|
||16,545|
||-
21,400
2,525
24,439
816
15,445|
||64,625|
||-
-
-|
||-|
||44
-
-
20,564
-
615
530
1,663
79,789
1,650
9,997
12,665
50
5,059|
||132,626|
||-
1,200
12,822|
||14,022|
|||
||211,273|
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