MELODY TABERNACLE
The advancement of the Christian faith worldwideThe relief of poverty
Financial health, per its FY2025 accounts
The accounts state that the charity reported a net surplus of £4,471 for the year ended 31 March 2025, bringing total unrestricted funds to £8,241. However, the balance sheet reveals a significant negative net current asset position of (£58,759), driven largely by creditors including a £34,500 loan. The trustees acknowledge the volatile nature of funding and the economic downturn, noting that they are working towards building up reserves to mitigate future funding decline.
What the accounts disclose
“In the year to 31 March 2025 the total income was £70290 including the borrowed loan of £34,500 from Anchor Consult Ltd ( Mr Abiodun Adedeji-Iyiola).” — page 4
“The sum of £34500 borrowed from Anchor Consult Ltd (Mr Abiodun Adedeji-Iyiola)” — page 10
Property (HM Land Registry)
Trustees
- Abiodun Adedeji-Iyiolachair
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £70k | £66k |
| 31/03/2024 | £56k | £57k |
| 31/03/2023 | £106k | £156k |
| 31/03/2022 | £53k | £196k |
| 31/03/2021 | £46k | £15k |
Common questions
Is MELODY TABERNACLE financially healthy?
Per its FY2025 accounts: The accounts state that the charity reported a net surplus of £4,471 for the year ended 31 March 2025, bringing total unrestricted funds to £8,241. However, the balance sheet reveals a significant negative net current asset position of (£58,759), driven largely by creditors including a £34,500 loan. The trustees acknowledge the volatile nature of funding and the economic downturn, noting that they are working towards building up reserves to mitigate future funding decline. Its FY2025 accounts were independently examined.