The Apostolic Faith Mission UK Ltd
Financial health, per its FY2024 accounts
The accounts state that the charity is financially stable and generated income consistent with the prior year. Per the trustees' report, free reserves have decreased significantly to £61,354, which is below the stated policy target of three months of annual expenditure. The charity remains a going concern with no material uncertainties identified by the auditors.
What the accounts disclose
“The free reserve currently stands at £61,354 (2023 - £1,046,043).” — page 7
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Rev MOHAMMED OLATOKUNBO BALOGUNchair
- Rev Delight Nyoni
- Rev Francis Olanrewaju Odudu
- Rev Lazarus Simbanegavi
- Rev Toyin Olushola Emitola
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.2m | £626k |
| 31/12/2023 | £1.1m | £605k |
| 31/12/2022 | £935k | £532k |
| 31/12/2021 | £820k | £283k |
| 31/12/2020 | £685k | £200k |
Common questions
Is The Apostolic Faith Mission UK Ltd financially healthy?
The accounts state that the charity is financially stable and generated income consistent with the prior year. Per the trustees' report, free reserves have decreased significantly to £61,354, which is below the stated policy target of three months of annual expenditure. The charity remains a going concern with no material uncertainties identified by the auditors. Its FY2024 accounts were audited by Millet Accountants Ltd.