REGISTERED COMPANY 03335837 and CHARITY 1064133

REGISTERED COMPANY NUMBER: 03335837 (England and Wales)REGISTERED CHARITY NUMBER: 1064133

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER 2016

FORCREFLO DOLLAR MINISTRIES

(A COMPANY LIMITED BY GUARANTEE)

PrimeChartered Accountants

Corner Oak1 Homer Road

SolihullB91 3QG

CREFLO DOLLAR MINISTRIES

CONTENTS OF THE FINA'NCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2016

Reference and Administrative Details

Report of the Trustees

Independent Examiner's Report

Statement of Financial Activities

Balance Sheet

Cash Flow Statement

Notes to the Cash Flow Statement

Notes to the Financial Statements

Detailed Statement of Financial Activities

Page

2 to 5

6 to 7

9 to 10

12

13 to 23

24 to 25


REFERENCE AND ADMINISTRATIVE DETAILSFOR THE YEAR ENDED 31 DECEMBER 2016

TRUSTEES Reverend A L Collins (resigned 4/1/17)Dr R B MumbaPastor M 0 OlaworePastor H Pease

COMPANY SECRETARY Pastor H Pease

REGISTERED OFFICE Unit 4Cuckoo Wharf Offices437 Lichfield RoadBirminghamB6 7SS

REGISTERED COMPANY NUMBER 03335837 (England and Wales)

REGISTERED CHARITY NUMBER 1064133

INDEPENDENT EXAMINER PrimeChartered AccountantsCorner Oak1 Homer RoadSolihullB91 3QG

SOLICITORS MundaysCedar House78 PortsmouthCobhamSurreyKT11 1AS

BANKERS Barclays Bank PlcLower Tottenham BranchLondonN18 2BY

Page 1

CREFLO DOLLAR MINISTRIES (REGISTERED NUMBER: 03335837)

REPORT OF THE TRUSTEESFOR THE YEAR ENDED 31 DECEMBER 2016

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their

report with the financial statements of the charity for the year ended 31 December 2016. The trustees haveadopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practiceapplicable to charities preparing their accounts in accordance with the Financial Reporting Standardapplicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIESObjectives and aimsThe charity's objectives are to promote the Gospel of Jesus Christ to those in any part of the world who havenot received it and to establish, advance and promote the gospel and Doctrine among Christian believersaccording to the statement of faith reproduced below.

We believe that Jesus Christ is the son of God and that He was crucified dead and buried, and on the third

day He arose from the dead and ascended on high where He took His seat at the right hand of God theFather Almighty until His enemies become His footstool.

We believe in the rapture, that the dead in Christ will rise first and that those that are alive and remain shall

be caught up to meet Jesus in the air.

We believe that after death eternal life begins either in heaven or in hell; where one spends eternity isbased on their decision to live according to God's words and commandments or to rebel and deny His wordsand commandments.

We believe in the indwelling of the Holy Spirit and the baptism in the Holy Spirit with the evidence ofspeaking in tongues.

We believe that the Bible is the written Word of God inspired by God. We believe that faith is acting out on

the Word of God.

We believe in divine healing and that Jesus is the Healer and that by the stripes of Jesus we are healed!

We believe in tithing the tithe and bringing offerings into the church. We also believe in giving alms and

caring for the poor, sick, homeless, etc.

We believe in water baptism in the name of the Father, Son and Holy Spirit. We believe in the name ofJesus and the authority invested in that name".

The Trustees achieve the objects by promoting and teaching the Word of God across the entire world via

television, electronic media and books. This is done with simplicity and understanding, so that the Word ofGod can be applied in our everyday lives in a practical and effective manner, thereby transforming minds and

conforming our immediate worlds to a successful, victorious and prosperous Christian life. We are faithful

stewards over the financial assets entrusted by God to Creflo Dollar Ministries. Our aim is to manage thesewith such excellence, integrity, thoroughness and accuracy that through honesty and integrity we will beabove absolute suspicion, not only in the sight of the Lord but also in the sight of men.

Page 2

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OBJECTIVES AND ACTIVITIESMajor achievements this year in 2016In our efforts to promote the Gospel of Jesus Christ in Europe during 2016, Creflo Dollar Ministries hasaccomplished the fo!lowing.

Partnership Activities/Contact Made

This year 1,089 people were added to our database. We were able to make 14,574 calls to our partners tofind out how they were and to know if there was anything the Ministry could do for them by praying.

We also responded to 1,650 written request for prayer and spiritual guidance and sent out 38,453 letters,26,462 emails to our partners from Pastor Dollar and sent out 6,465 products that make up 3,716 packagesto our partners and friends of the Ministry.

We are also reaching out through Facebook (both English & Spanish), Twitter and our Microsite. By the endof 2016 we received 37,029 likes on our English Page, 6,037 on our Spanish Page and 137 twitter followers.

CDM Europe continues to make calls to partners, donors and friends on a daily basis.

CDM West Africa

We spent time in Nigeria providing substantial assistance with the set up of this office. The assistanceinvolved:-Hiring and training a staff member along with a volunteer to help with the day to day management of theoffice.Setting up and activation of banking facilities.Liaising with a legal team to ensure the standard office procedures comply with local law.

Purchase of furniture and office equipment.Providing training on how to run conventions and events for the ministry.

Speaking Engagements

On August 28th 2016 Pastor Dollar ministered during Kingsway International Christian Centre's yearly

"International Gathering of the Champions" conference where Pastor Dollar continued to minister about the

Grace of God.

In the same week CDM Europe hosted a one day conference in London where partners and friends of the

ministry gathered to hear the message of grace ministered by Pastor Dollar. This event was held at New

Wine Church as our previously booked venue cancelled at the last minute.

During these events staff members also attended to sell products and generate new names and partners for

the ministry.

Television Broadcasts in the Ukraine

CDM is still broadcasting in the Ukraine through Rick Renner Ministries. This began in 2007; however the

charity is no longer supporting it financially. The broadcast continues to increase the awareness of the

Ministry in that area especially to our Russian speaking partners.

Staffing

There were no changes to staff. The members of Staff continued to service the spiritual needs of our

European Region and areas of the Middle East including Pakistan.

Page 3



OBJECTIVES AND ACTIVITIESMajor achievements this year in 2016Missions

In Dec 2016 Creflo Dollar Ministries donated toys to Birmingham Children's Hospital. These toys were usedas Christmas presents for children who due to illness were not able to go home for Christmas. The toysbought were for babies and teenagers as these were the age groups for which the hospital were in need ofgifts.

Public benefitThe Charity had due regard to guidance published by the Charity Commission on public benefit.

Teaching the Word of God with simplicity and understanding is the goal of Creflo Dollar Ministries. Our

mission is to invoke change in the lives of people and gain understanding of God's love and promises. This is

the way we achieve public benefit.

FINANCIAL REVIEWFinancial reviewThe charitable company's net deficit for the year amounted to f68,864 (2015: net surplus F2,533) making

total funds held at 31 December 2016 of F14,197 (2015: 283,061). The income arising in the charity during

the year of F371,419 was marginally lower than in 2015 (f380,581) and we are grateful to our generoussupporters for this. Our total expenditure for the year was F440,283 compared with 2378,048 in 2015. Thedirect financial support we provided to CDM West Africa during its set up phase of 653,010 (2015: anil) hashad a significant impact on results for this year but this activity will not continue in 2017.

The Charity considers it will generate sufficient income in 2017 to cover the small deficit on unrestricted

reserves of F2,643 and there will be no impact on the fulfillment of obligations arising from the restricted funds

carried forward of F16,840.

The results for the year are shown in the Statement of Financial Activities and the state of affairs, which theTrustees consider satisfactory, is shown on the Balance Sheet.

Reserves policyThe total reserves held as at 31 December are F14,197 (2015: 683,061). The Trustees have reviewed thecharity's need for reserves and have agreed that it should ideally hold free reserves of F94,000 to meetapproximately three months support and administration costs. A reserve of this size would provide

substantial backing to our Ministry ensuring it can grow effectively in reaching out with our Christian message.The current deficit on unrestricted free reserves of f12,638 which takes account of the charity's fixed assetsis clearly less than this. The Trustees are concentrating on a number of cost saving initiatives to achieve this.

It is hoped that these measures will enable the Charity to build up the recommended level of reserves in due

course.

The Charity believes it has the resources to fulfil the obligations arising from the restricted reserves held at 31December 2016 of F16,840.

FUTURE PLANSCDM Europe will continue to host meetings for partner and friends to meet and will branch out to cities in

Europe. The ministry will continue to donate to these charities and continue to be hands on, volunteering time

during working hours to see the goals and objectives of these charities being fulfilled.

The focus of CDGM is to build and globalise Creflo Dollar Global Missions. The CDGM, International offices

and Satellite churches are to be unified and will share The Gospel of Grace locally addressing the four

mission categories of Care for Kids, Love Thy Neighbour, Hope in Disaster and Project Virtue. Our ministry in

particular, we are building, developing, and moving.

Page 4

(


REPORT OF THE TRUSTEESFOR THE YEAR ENDED 31 DECEMBER 2016 .

STRUCTURE, GOVERNANCE AND MANAGEMENTGoverning documentThe charity was incorporated as a company limited by guarantee on 13 March 1997 and is governed by its

Memorandum and Articles of Association. It registered as a charity on 27 August 1997.

The trustees are the members of the charitable company and, in the event of the company being wound up,the members are required to contribute an amount not exceeding E1.

Recruitment, appointment, induction and training of trusteesUnder the requirements of the Memorandum and Articles of Association, the trustees have the power toappoint new trustees who must be re-elected at the following Annual General Meeting. Recruitment of newtrustees is by personal recommendation. During induction and training the new trustees are provided with

suitable material to ensure they understand the charitable purpose and operating policies of Creflo Dollar

Ministries.

Organisational structureThe Trustees who served during the year and up to the date of this report are set out on page 1. Trustees areappointed by the Board of Trustees. The day to day running of the charitable company has been controlled

by salaried managers appointed by the Trustees. Celeste Ufuoma-Oberabor is the person in charge of theday to day running of the Charity. All decisions are made by the Board of Trustees inspired by the teachingsof Pastor Creflo Dollar.

This report h een prepared in ac rdance with the special provisions of Part 15 of the Companies Act2006 relatin to small corn

Ap ed by er e oetee on . .. . .. . . .I. . A.P~. !3.. . .. . . .. . .. . . ..

Pastor M 0 Olawore - Trustee

Page 5

I

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFCREFLO DOLLAR NIINISTRIES (REGISTERED NUMBER: 03335837)

I report on the accounts for the year ended 31 December 2016 set out on pages eight to twenty three.

Respective responsibilities of trustees and examinerThe charity's trustees (who are also the directors for the purposes of company law) are responsible for the

preparation of the accounts. The charity's trustees consider that an audit is not required for this year (underSection 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Thecharity's gross income exceeded f250, 000 and I am qualified to undertake the examination by being aqualified member of ICAEW.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for

independent examination, it is my responsibility to:

examine the accounts under Section 145 of the 2011 Actto follow the procedures laid down in the General Directions given by the Charity Commission (under

Section 145(5)(b) of the 2011 Act); andto state whether particular matters have come to my attention.

Basis of the independent examiner's reportMy examination was carried out in accordance with the General Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the

accounts presented with those records. It also includes consideration of any unusual items or disclosures in

the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures

undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is

given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters setout in the statements below.

Independent examiner's statementIn 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 386 and 387 of the Companies Act

2006; andto prepare accounts which accord with the accounting records, comply with the accounting

requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and

principles of the Accounting and Reporting by Charities: Statement of Recommended Practice

applicable to charities preparing their accounts in accordance with the Financial Reporting

Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)

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.

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFCREFLO DOLLAR MINISTRIES (REGISTERED NUMBER: 03335837)

Michael JellicoeICAEWPrimeChartered AccountantsCorner Oak1 Homer RoadSolihullB91 3QG

w(o~gis

Page 7


STATEMENT OF FINANCIAL ACTIVITIES(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2016

INCOME AND ENDOWMENTS FROMDonations and legaciesCharitable activitiesMinistry materials

Investment income

Total

Unrestrictedfund

Notes

2 344,032

16,731

323

361,086

Restrictedfunds

10,333

10,333

2016Totalfunds

354,365

16,731

323

371,419

2015Totalfunds

361,300

19,249

32

380,581

EXPENDITURE ON

Raising fundsCharitable activitiesConventions and MeetingsMinistry materialsMinistry headquartersTithes and donationsContribution to set up of West African

ministry

68,908

55,192169,52286,671

59,625

365

68,908

55,557169,52286,671

59,625

122,344

34,245125,04384,25212,164

Total 439,918 365 440,283 378,048

NET INCOME/(EXPENDITURE)

RECONCILIATION OF FUNDS

Total funds brought forward

(78,832)

76,189

9,968

6,872

(68,864)

83,061

2,533

80,528

TOTAL FUNDS CARRIED FORWARD (2,643) 16,840 14,197 83,061

CONTINUING OPERATIONSAll income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 8

I

CREFLO DOLLAR MINISTRIES (REGISTERED NUNIBER: 03335837)

BALANCE SHEETAT 31 DECEMBER 2016

FIXED ASSETSTangible assets

Unrestricted Restrictedfund funds

Notes f

12 9,995

2016Totalfunds

9,995

2015Totalfunds

12,960

CURRENT ASSETSStocksDebtorsCash at bank and in hand

1314

5,93817,89110,956

34,785

16,840

16,840

5,93817,89127,796

51,625

7,98216,96196,555

121,498

CREDITORSAmounts falling due within one year 15 (47,423) (47,423) (51,397)

NET CURRENT ASSETS/(LIABILITIES) (12,638) 16,840 4,202 70, 101

TOTAL ASSETS LESS CURRENTLIABILITIES (2,643) 16,840 14,197 83,061

NET ASSETS/(LIABILITIES) (2,643) 16,840 14,197 83,061

FUNDSUnrestricted fundsRestricted funds

TOTAL FUNDS

16(2,643)16,840

14,197

76, 1896,872

83,061


Page 9 continued. ..


BALANCE SHEET - CONTINUEDAT 31 DECEMBER 2016

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 forthe year ended 31 December 2016.

The members have not required the charitable company to obtain an audit of its financial statements for theyear ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable

company as at the end of each financial year and of its surplus or deficit for each financial year in

accordance with the requirements of Sections 394 and 395 and which otherwise comply with therequirements of the Companies Act 2006 relating to financial statements, so far as applicable to thecharitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the

Companies Act 2006 relatin small charitable companies.

The financi statements were a ro d by the Board of Trustees on . . . .. . ..eII0(OR%8. .. . .. . .. . . .. . . and were

signed on it ehalf

Pastor M 0 awore -Trustee


Page 10


CASH FLOW STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2016

Cash flows from operating activities:Cash generated from operations

Net cash provided by (used in) operatingactivities

Notes2016

(67,594)

(67,594)

2015F

(8,011)

(8,011)

Cash flows from investing activities:Purchase of tangible fixed assetsInterest received

(1,488)323

(7,105)32

Net cash provided by (used in) investingactivities (1,165) (7,073)

Change in cash and cash equivalents in thereporting periodCash and cash equivalents at the beginningof the reporting period

Cash and cash equivalents at the end of thereporting period

(68,759)

96,555

27,796

(15,084)

111,639

96,555


Page 11


NOTES TO THE CASH FLOW STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2016

RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING

ACTIVITIES2016

Net income/(expenditure) for the reporting period (as per thestatement of financial activities)Adjustments for:Depreciation chargesInterest receivedDecrease/(increase) in stocksIncrease in debtorsDecrease in creditors

Net cash provided by (used in) operating activities

(68,864)

4,453(323)

2,044(930)

(3,974)

(67,594)

2,533

3,414(32)

(2,545)(2,954)(8,427)

(8,011)

Page 12


NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2016

ACCOUNTING POLICIES

Basis of preparing the financial statementsThe financial statements of the charitable company, which is a public benefit entity under FRS 102,have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by

Charities: Statement of Recommended Practice applicable to charities preparing their accounts in

accordance vvith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard

applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements

have been prepared under the historical cost convention.

IncomeAll income is recognised in the Statement of Financial Activities once the charity has entitlement to the

funds, any performance conditions attached to the item(s) of income have been met, it is probable that

the income will be received and the amount can be measured reliably.

For donations to be recognised the charity will have been notified of the amounts and the settlement

date in writing. If there are conditions attached to the donation and this requires a level of performancebefore entitlement can be obtained, then income is deferred until those conditions are fully met or the

fulfilment of those conditions is within the control of the charity and it is probable that they will befulfilled.

Income from the sales of Ministry materials is included when receivable and is stated net of VAT. VAT

attributable to gifts of Ministry materials made to donors is included in expenditure as a cost of

generating voluntary income.

Donated facilities and donated professional services are recognised in income at their fair value when

an economic benefit is probable, it can be measured reliably and the charity has control over the item.

Fair value is determined on the basis of the value of the gift to the charity, for example the amount the

charity would be willing to pay in the open market for such facilities and services. A corresponding

amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).Details of volunteer contributions to the charity is given in the Trustees' Annual Report, where relevant.

Investment income is earned through holding assets for investment purposes such as term depositaccounts. It includes interest income which is recognised as it accrues,

Page 13


NOTES TO THE FINANCIAL STATEMENTS - CONTINUED


ACCOUNTING POLICIES - continued

ExpenditureLiabilities are recognised as expenditure as soon as there is a legal or constructive obligation

committing the charity to that expenditure, it is probable that a transfer of economic benefits will berequired in settlement and the amount of the obligation can be measured reliably. Expenditure is

accounted for on an accruals basis and has been classified under headings that aggregate all costgrelated to the category. Where costs cannot be directly attributed to particular headings they have beenallocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is charged as an expense against fundraising activity and also as a support cost asthe disallowance arises partly as a result of VAT restrictions caused by gifts given in exchange for

donations.

Grants payable to third parties are within the charitable objectives. Where unconditional grants areoffered, this is accrued as soon as the recipient is notified of the grant as this gives rise to areasonable expectation that the recipient will receive the grants. Where grants are conditional relating

to performance, the grant is accrued only when any unfulfilled conditions are outside of the control ofthe charity.

Allocation and apportionment of support costsSupport costs are those that assist the work of the charity but do not directly represent charitable

activities and include premises costs, office costs, governance costs, administrative and payroll costs.They are incurred directly in support of expenditure on the objects of the charity. Where support costscannot be directly attributed to particular activities, they have been allocated to expenditure on

charitable activities on a basis consistent with the resources, which may be actual or based on aproportion of staff costs.

Tangible fixed assetsDepreciation is provided at the following annual rates in order to write off each asset over its estimated

useful life.

Improvements to propertyTV and media equipmentFixtures and fittingsMotor vehiclesComputer equipment

- Straight line over 10 years- 20% on cost- 20% on cost- 25% on cost- 33.33% on cost

StocksStocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

TaxationThe charity is exempt from corporation tax on its charitable activities.

Page 14

f


NOTES TO THE FINANCIAL STATEINENTS - CONTINUEDFOR THE YEAR ENDED 31 DECEMBER 2016

1. ACCOUNTING POLICIES - continued

Fund accountingUnrestricted funds can be used in accordance with the charitable objectives at the discretion of thetrustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity.Restrictions arise when specified by the donor or when funds are raised for particular restricted

purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for specificfuture purposes or projects.

Further explanation of the nature and purpose of each fund is included in the notes to the financial

statements.

Foreign currenciesAssets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling atthe balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ofexchange ruling at the date of transaction. Exchange differences are taken into account in arriving atthe operating result.

Pension costs and other employee benefitsWhen employees have rendered service to the charity, short term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchangefor that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions areexpensed as they become payable.

DONATIONS AND LEGACIES

Donations

2016

354,365

2015F

361,300

3. INVESTMENT INCOME

Deposit account interest

2016

323

2015F

32

Page 15




4. RAISING FUNDS

Raising donations and legacies

Vat cost of generating fundsBank and credit card chargesAdvertising and promotion

Support costs

2016f1,9433,9919,263

53,711

68,908

2015

12,6086,4889,401

93,847

'I 22, 344

5. CHARITABLE ACTIVITIES COSTS

Conventions and MeetingsMinistry materialsContribution to set up of West African ministry

Ministry headquarters

Direct costs

f19,428

101,57753,010

Supportcosts

(See note 7)f

36,12967,945

6,61586,671

Totals

55,557169,52259,62586,671

174,015 197,360 371,375

6. GRANTS PAYABLE

Tithes and donations

2016 2015f5,500

The total grants paid to institutions during the year was as follows:

Roald Dahls's Marvellous Children's Charity - Support for seriously ill

childrenReachout Network - Support for homeless peopleResurrection Life Assembly - Set up of kitchen for the homeless

2016f

2015f

5002,5002,500

5,500

Page 16


NOTES TO THE'FINANCIAL STATEMENTS - CONTINUED


7. SUPPORT COSTS

Costs of generating voluntary incomeConventions and MeetingsMinistry materialsMinistry headquartersContribution to set up of West African

ministry

Staff costsf

25,50524,94845,39548,551

6,615

151,014

Premises

7,3157,153

13,01713,915

41,400

Office costsf

17,470793

3,0133,361

24,637

Costs of generating voluntary incomeConventions and MeetingsMinistry materialsMinistry headquartersContribution to set up of West African

ministry

Travel andsubsistence

f933912

1,6601,774

5,279

Other costsf1,8511,8083,290

18,268

25,217

Governancecostsf

637515

1,570802

3,524

Totalsf

53,71136,12967,94586,671

6,615

251,071

ActivityStaff costsPremisesOffice costsTravel and subsistenceOther costsGovernance costs

Basis of allocationStaff timeStaff timeUsageStaff time/UsageStaff time/usageUsage


Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assetsIndependent examinationIndependent examiner's fees for accountancy and advice servicesAudit fee under accrual for 2014Auditors fees for accountancy and advice servicesForeign exchange loss

2016f

4,4532,0004,600

2015f3,4142,0003,0001,8502,075

742

Page 17




9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2016 nor for

the year ended 31 December 2015.

Trustees' expensesThere were no trustees' expenses paid for the year ended 31 December 2016 nor for the year ended31 December 2015.

10. STAFF COSTS

Wages and salaries .

Social security costsOther pension costs

2016

152,6379,8331,632

164,102

2015F

151,10911,163

852

163,124

The average monthly number of employees during the year was as follows:

Administration and support

20167

20157

No employees received emoluments in excess of 660,000.

The charity considers its key management personnel comprise the CEO and senior management.

The total amount of employee benefits including employer's pension contributions received by key

management personnel were 684,963 (2015: f89,012).

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 2015

Unrestrictedfund

Restrictedfunds

Totalfunds

INCOME AND ENDOWMENTS FROMDonations and legaciesCharitable activitiesMinistry materials

Investment income

355,077

19,249

32

6,223 361,300

19,249

32

Total 374,358 6,223 380,581

Page 18


NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED 31 DECEMBER 2016

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 2015 - continuedUnrestricted Restricted

fund fundsE

Totalfunds

EXPENDITURE ON

Raising fundsCharitable activitiesConventions and MeetingsMinistry materialsMinistry headquartersTithes and donations

Total

122,344

34,245125,04384,252

3,935

369,819

8,229

8,229

122,344

34,245125,04384,25212,164

378,048


RECONCILIATION OF FUNDS

Total funds brought forward

4,539

71,650

(2,006)

8,878

2,533

80,528

TOTAL FUNDS CARRIED FORWARD 76,189 6,872 83,061

Page 19



12. TANGIBLE FIXED ASSETS

Improvementsto property

f

TV andmedia Fixtures and

equipment fittingsf f

COSTAt 1 January 2016AdditionsDisposals

3,198 127,071 22,585

At 31 December 2016 3,198 127,071 22,585

DEPRECIATIONAt 1 January 2016Charge for yearEliminated on disposal

At 31 December 2016

560 126,810320 62

880 126,872

18,8021,183

19,985

NET BOOK VALUEAt 31 December 2016

At 31 December 2015

2,318

2,638

199

261

2,600

3,783

COSTAt 1 January 2016AdditionsDisposals

At 31 December 2016

Motorvehicles

f

10,263

10,263

Computerequipment

f

46,4651,488

(1,492)

46,461

Totalsf

209,5821,488

(1,492)

209,578

DEPRECIATIONAt 1 January 2016Charge for yearEliminated on disposal

At 31 December 2016

10,262

10,262

40,1882,888

(1,492)

41,584

196,6224,453

(1,492)

199,583

NET BOOK VALUEAt 31 December 2016

At 31 December 2015

4,877

6,277

9,995

12,960

Page 20



13. STOCKS

Stocks of Ministry materials

2016f5,938

2015

7,982

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtorsPrepayments and accrued income

2016f

15,2952,596

17,891

2015

12,9763,985

16,961

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditorsSocial security and other taxesOther creditorsAccruals and deferred incomeGrants payable

2016E

14,0693,229

30,125

47,423

2015

6,8597,848

36033,830

2,500

51,397

16. MOVEMENT IN FUNDS

Netmovement

At 1.1.16 in funds At 31.12.16f

Unrestricted fundsGeneral fund 76,189 (78,832) (2,643)

Restricted fundsMissionary worksBroadcasting the GospelCare for childrenPoverty relief

515365

5,668324

6,872

7,098(365)

3,235

9,968

7,613

8,903324

16,840

TOTAL FUNDS 83,061 (68,864) 14,197

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NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED 31 DECEIIBER 2016

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted fundsGeneral fund

Incoming Resources Movementresources expended in funds

F

361,086 (439,918) (78,832)

Restricted fundsMissionary worksCare for childrenBroadcasting the Gospel

7,0983,235

(365)

7,0983,235(365)

10,333 (365) 9,968

TOTAL FUNDS 371,419 (440,283) (68,864)

Purpose of Restricted Funds:Donors to the charity are provided a choice of funds to which their donation is allocated: for reporting

purposes these are allocated to one of the funds identified below; when tithing the Trustees ensure that

the specific purposes of the donor's allocation is fulfilled.

Missionary Works:These cover broadly defined donation categories such as Soul Winning, Ambassadors for Change and

Mission General Funds where the day to day activities of the charity will naturally fulfil the donor's

intentions for the gift.

Broadcasting the Gospel:These cover donations earmarked for broadcasting the Gospel.

Care for Children:Gifts identified for the support of sick children, orphanages and educational initiatives fulfilled by

thoughtful tithing.

Poverty Relief:This covers a range of gifts for the relief of poverty in the UK and abroad with particular emphasis

being given to aid for women trapped in sex work, as well as the provision of homes, shelter, food

distribution, water and medical relief, particularly for orphaned and abandoned children; again

thoughtful tithing ensures the wishes of the donors are fulfilled.

17. PENSION COIIMITMENTS

The charity operates a defined contribution pension scheme. The charge to the Statement of Financial

Activities for the year is F1,632 (2015: f852). There are no outstanding contributions and no prepaid

contributions at the year end or at 31 December 2015.

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18. RELATED PARTY DISCLOSURES

The charity assisted CDM West Africa during its set up phase and first few months of operation in

2016 with direct financial and staff support to the value of F53,010 (2015: Fnil). These are costs which

are accounted for as Creflo Dollar Ministries' charitable activity and for which no reimbursement isexpected. No further support is expected to be required for CDM West Africa as the office is now fully

operational.

During 2015, the charity made a loan of F4,298 to CDM West Africa to provide it with working capital

during -its initial set up phase. This amount was fully repaid after the year end. At 31 December 2016the charity was owed fnil (2015:f4,298).

The charity makes a monthly payment to CDM International as a contribution towards its running costs.CDM International provides management support . The amount charged by CDM International was

f9,513 (2015: E3,606).

During 2015, the charity approved a grant to Resurrection Life Assembly (RLA) of F2,500 to enable it

to raise the finance for a kitchen which will be used to provide meals for the homeless. The grant

payment was delayed until 2016 whilst final arrangements were being made by RLA that would enablethe kitchen installation to take place. Mrs Celeste Ufuorna-Oberabor, who is the CEO of the charity, is

a trustee of RLA. anil was owed to RLA at 31 December 2016 (2015: 62,500).

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DETAILED STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 31 DECEMBER 2016

2016f

2015f

INCOME AND ENDOWMENTS

Donations and legaciesDonations 354,365 361,300

Investment incomeDeposit account interest

Charitable activitiesSale of ministry materialsRoyalties

323

16,288443

32

19,249

Total incoming resources

16,731

371,419

19,249

380,581

EXPENDITURE

Raising donations and legaciesVat cost of generating fundsBank and credit card chargesAdvertising and promotion

1,9433,9919,263

15,197

12,6086,4889,401

28,497

Charitable activitiesPurchase, production and despatch of Ministry materials sold

Conventions and public meetingTithes and other donationsHonorariumContribution to ministry set up costsStaff costs reallocatedGrants to institutions

101,57716,749

2,67937,01016,000

174,015

63,5561,2024,327

5,500

74,585

Support costsStaff costsWagesSocial securityPensionsOther staff costsStaff costs reallocated

152,6379,8331,6322,912

(16,000)

151,10911,163

8522, 149

151,014 165,273

This page does not form part of the statutory financial statements

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DETAILED STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 31 DECEMBER 2016

2016 2015

PremisesRepairs and maintenanceRent, rates and service chargeStorage costsSafety and securityInsuranceLight and heatImprovements to propertyFixtures and fittings

Office costsOffice and equipment suppliesIT services prepaidPrintingPostage and courierTelephoneOffice sundryxrm re raisingPlant and machineryComputer equipment

Travel and subsistenceTravel and subsistenceOther costsProfessional fees including accountancyTravel and hotels for International Office visit to UK

Support provided by CDM International Office

Foreign Exchange differencesBank and credit card chargesOther costsIrrecoverable vat

Governance costsAccountancy and legal feesLegal fees

Total resources expended

1,70229,590

5,400

1,6031,602

3201,183

41,400

3,4427,2563,4081,3095,329

943

622,888

24,637

5,279

5,045189

9,513

1,747(91)

8,814

25,217

2,0001,524

3,524

440,283

27927,709

5,310571

1,1665,602

3201,203

42, 160

3,2538,8613,747

588,293

55310,916

621,830

37,573

10,425

7,2953,9863,606

7421,077

829

17,535

2,000

2,000

378,048

Net (expenditure)/Income (68,864) 2,533

This page does not form part of the statutory financial statements

Page 25

REGISTERED COMPANY 03335837 and CHARITY 1064133

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