WORSHIP TABERNACLE MINISTRIES
1. Provision of Weekly Church Services on Wednesday and Sunday to minister to the physical, spiritual and material needs of the congregants. 2. Focusing on the Material needs of certain members undergoing difficult financial situations.
Financial health, per its FY2024 accounts
The accounts state that unrestricted income rose by over 10% to over £1,070,000, while total expenditure decreased slightly to £977,098, resulting in a net surplus of £783,862. The charity holds unrestricted reserves of £3,521,753, which the trustees confirm are well above their stated policy target of three to six months of annual expenditure. Cash balances remain strong at £1,032,865, supported by a new mortgage loan of £2 million used to acquire a new building.
What the accounts disclose
“One staff member received salary in the band of £120,000-130,000 pa (2023: one member of staff in the band £110,000-£120,000) and one member of staff in the band £70,000-80,000 (2023 One member of staff in the band £60,000-70,000). No others received salary over £60,000 pa.” — page 23
“Unrestricted funds not committed or invested in tangible fixed assets are held at an amount not less than a range of three to six months of the charity's annual expenditure.” — page 9
“During the year the church paid £18,000 (2023: £18,000) as rent to Pastor T and Mrs F Adeshugba, under a lease agreement for the church to use a property owned by them as church accommodation. There were no amounts owed or owing at the year end.” — page 26
“Received donations totalling £47,140 (2023: £26,388) from related parties (which includes trustees, anyone closely connected to them and key management).” — page 26
“During the year the church paid £18,000 (2023: £18,000) as rent to Pastor T and Mrs F Adeshugba, under a lease agreement for the church to use a property owned by them as church accommodation. There were no amounts owed or owing at the year end.” — page 26
“Received donations totalling £47,140 (2023: £26,388) from related parties (which includes trustees, anyone closely connected to them and key management).” — page 26
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- ASUQUO MICHAEL EKPE
- DANIEL OKOTURO
- DONALD NYAMPONG BOAKYE
- EMMANUEL ROPO OGUNLEYE
- TOLUWALASE BENSON-IDONIJE
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.8m | £977k |
| 31/12/2023 | £1.2m | £997k |
| 31/12/2022 | £1.1m | £694k |
| 31/12/2021 | £1.1m | £492k |
| 31/12/2020 | £782k | £435k |
Common questions
Is WORSHIP TABERNACLE MINISTRIES financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted income rose by over 10% to over £1,070,000, while total expenditure decreased slightly to £977,098, resulting in a net surplus of £783,862. The charity holds unrestricted reserves of £3,521,753, which the trustees confirm are well above their stated policy target of three to six months of annual expenditure. Cash balances remain strong at £1,032,865, supported by a new mortgage loan of £2 million used to acquire a new building. Its FY2024 accounts were audited by Caladine Ltd.
What does the highest-paid employee of WORSHIP TABERNACLE MINISTRIES earn?
Per its FY2024 accounts, the highest-paid employee was in the £120,001 - £130,000 band.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| BANBURY CHARITIES | 1 | £36k |
| THE JOSEPH RANK TRUST | 1 | £30k |
| THE ST MICHAELS AND ALL SAINTS CHARITY | 1 | £3k |
Charities like this
- FLAMES OF FAITH ASSEMBLIES
- COMMAND PRAYER CENTRE MINISTRIES INTERNATIONAL
- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER, FULHAM
- BANBURY COMMUNITY CHURCH
- REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') VICTORY CENTRE FOR ALL NATIONS
- CAMBORNE WESLEY METHODIST CHURCH
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| WORSHIP TABERNACLE MINISTRIES | £1.8m | £120,001 - £130,000 | — | above | — | no doubt |
| FLAMES OF FAITH ASSEMBLIES | £119k | — | 0 | unclear | — | no doubt |
| COMMAND PRAYER CENTRE MINISTRIES INTERNATIONAL | £209k | — | 0 | unclear | — | noted |
| THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER, FULHAM | £420k | — | — | below | — | no doubt |
| BANBURY COMMUNITY CHURCH | £245k | — | 0 | unclear | — | no doubt |
| REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') VICTORY CENTRE FOR ALL NATIONS | £175k | — | 0 | unclear | — | no doubt |