REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
Annual Report and Financial Statements for year ended 31st December 2023
Charity registration number: 1061225 Company registration number: 3174438
Independent Examiners Ltd Unit 2, The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
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CONTENTS
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Page 3 Legal and Administrative Information Pages 4 to 6 Report of the Trustees Page 7 Independent Examiner's Report to the Trustees Page 8 Statement of Financial Activities Pages 9 Balance Sheet Page 10 to 14 Notes to the Financial Statements
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REALITY OUTREACH MINISTRIES INTERNATIONAL
(Limited by Guarantee)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1061225 COMPANY NUMBER: 3174438 START OF FINANCIAL PERIOD 1 January 2023 END OF FINANCIAL PERIOD 31 December 2023 TRUSTEES AT 31 DECEMBER 2023 Mr C Bath - Chair and Secretary Mr D Corbin Rev R Krulik STAFF AT 31 DECEMBER 2023 Mr C Snook - Drama director and CEO Mrs D Snook - Drama director CORRESPONDENCE ADDRESS 27 Fairfiled Avenue Fareham PO14 1EB GOVERNING DOCUMENT Memorandum and Articles of Association Incorporated 18th March 1996, amended on 02nd December 2022 OBJECTS Advancement of the Christian Faith PARENT UNDERTAKING Reality Outreach Ministries Inc. PO Box 844 St Catherines Ontario L2R 6Z4 BANKERS Barclays Bank 67-69 West Street Fareham, Hampshire PO16 0AT SOLICITORS MacDonald Oates, Knockhundred Row Midhurst, West Sussex GU29 9DQ INDEPENDENT EXAMINER Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees have pleasure in submitting their annual report and the unaudited financial accounts of Reality Outreach Ministries International (the Charity or ROMI) as at and for the year ended 31 December 2023.
SECTION 1 - Objectives and Activities
Purposes of the Charity
ROMI is an evangelistic Christian Charity. The objects of the Charity are the advancement of the Christian faith and the worship of God by any means. This is primarily done through the staging of theatrical productions, the making and distribution of DVDs of such productions and related merchandise. The Trustees have had regard to the Charity Commission's guidance on public benefit and in particular the Charity Commission's advice on The Advancement of Religion for Public Benefit.
Charitable activities
ROMI continues to use the drama production called "Heaven's Gates & Hell's Flames" as a vehicle to share the Christian faith throughout The United Kingdom, Europe and Africa. The drama is a hard-hitting series of scenes which clearly show the Biblical principle that the decisions we make during our lifetime will affect where we will spend eternity when we die. It also gives very clear moral guidance encouraging a life that honours biblical values.
After being invited by a church, ROMI will send one of its teams to help the church stage the production after a few days of rehearsal and times of prayer. At all times the cast, which is made up of volunteers, is reminded of the spiritual reason for the drama and are encouraged to invite family and friends to the performances. Their involvement in the production teaches them drama skills and encourages confidence in their abilities as well as giving them an opportunity to share their faith with others.
ROMI is a non-denominational organisation working with a broad range of churches and individuals who hold to the beliefs of the Christian faith.
SECTION 2 - Achievement and Performance
Activities and achievements in the year
During 2023 ROMI conducted 5 successful missions in UK, 1 in Ireland, 2 in Ghana and 1 in Kenya.
ROMI also enabled a new team for East Africa based in Nairobi, Kenya. This involved organising for sound and lighting equipment to be shipped from UK to Nairobi plus a 10-day visit to assemble the equipment and train the team. Carl Bath, ROM World Missions director was also on the training visit.
During our time in Nairobi, we also conducted a very successful mission with the new team using their new equipment.
ROMI completed its review of governance and policies in early 2023 with approval being given by trustees at their 2023 AGM. We continue in membership with charitable advisory groups Trust Advice and thirtyone:eight. A salary review was also conducted in the light of changing circumstances and activities in recent years.
In December 2023 ROMI was informed of a planned 45% increase in accountancy costs from its previous provider. After research and discussion with the trustees it was decided to proceed with Independent Examiners Ltd who are a sister company of Trust Advice.
ROMI sets aside 10% of its income from churches and profits from merchandise as a tithe in accordance with biblical teaching. This fund is used to support other charities and in the year 2023 we were able to support several charitable organisations giving support for work against people trafficking and support for widows and orphans in areas affected by war and poverty.
Subsequent events and future developments
In 2024 ROMI will seek to continue its work in the UK, Europe and Africa as opportunities arise. It will seek to re-build and create new relationships and profile as opportunities arise.
ROMI continues to give financial and technical support to teams operating in Europe, Africa and other areas as needs arise and funding becomes available.
During 2024 ROMI will be working on supporting and increasing co-operation and support between the two teams now operating out of Nairobi. We are also working on a possible mission to Cyprus.
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
SECTION 3 - Financial review
ROMI are thankful for the continued support of the majority of our donors.
The Charity made an overall deficit of £4,782 in the year. Income from churches has decreased by £1,181 compared to last year's income of £33,000.
The unrestricted funds at the year-end total £18,081, of which £7,463 is invested in fixed assets. Thus £10,618 remains as unrestricted general funds which the Trustees believe are sufficient to cover short term fluctuations in income and expenditure.
Reserves policy
The Trustees' aim is to retain funds equal to three months' operating expenditure to enable the Charity to withstand a financial setback or take advantage of an opportunity.
SECTION 4 - Structure, Governance and management:
Constitution
The Charity is a company limited by guarantee and is governed by its articles of association which require that the charity be managed by a Board of Trustees the members of which are directors and managing trustees respectively within the meaning of the Companies Act 2006 and the Charities Act 2011. ROMI' s registration details, staff and professional advisers are to be found on page 3.
Induction and training of new trustees
The trustees are familiar with the practical work of the Charity. When a new trustee is appointed, appropriate induction and training is provided and they are made aware of the Charity Commission' s publications on Public Benefit and in particular the Charity Commission's advice on The Advancement of Religion for Public Benefit.
Organisational structure
The Board of Trustees administers the Charity and, in particular, makes all the strategic decisions. To facilitate the efficient operation of the Charity, the trustees delegate the authority for operational matters to ROMI's Drama Directors.
Related parties
Reality Outreach Ministries Inc. (ROM Inc), a charitable company incorporated in Canada, is the Charity's parent undertaking in accordance with the provisions of the relevant United Kingdom Companies Acts. ROM Inc continues to guide the development of ROMI's activities in Europe and Africa, which are co-ordinated at the ROMI's registered office.
Risk management
The Trustees have identified the major risks to which the Charity is exposed and systems have been established to mitigate those risks. The risk assessment has been reviewed during the year.
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REALITY OUTREACH MINxsfRIES INTERNATIONAL (Limited by GuJrantee} REPORT OF THE TRUSTEES {Continued) FOR THE YEAR ENDED 31 DECEMBER 2023 For the Trnancial year ended 31st Decembtr 2023. the ComnY was entsded to e¥ernFtion under 477 of the Ctynpanies Act 2006 relating to small COmnIes. No members have required the company to obtain an aydit of Its accounts for the year ended 31st December 2023 In accordance with Secti 476 of the Companies Act 2006. Statement of Dirertors. resDonslbilltles'. The trustees (who are also the directors of Reality Outreath Minisines Internatial for the purposes of company lawl are responsible for preparing the trustees. report and the finan¢¢al statements In accordance w1th appltcable law and united Kingdom Accounttng Stsndards { United Kingdom Generally Accepted ACCJnI1m9 Practice). induding FRS 102 "The Financial Reporting Standard ap1£able In the UK ar7d Republic of Iand". Company law requires the trusiees to prepare financial statements fcy each financial yeaf. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true an¢J fair view of the state of affairs of the charitable company and of the Incorning resources. includino Its Income and expenditure, of ihe charitable cornpany for ihat period. In preparing these financial statements, the truees are required to- a.) select suitèble actounting policies and apply them ctyisistenrlv b.) observe the Meth1$ and pnnciples In the Charits'es SORP; c.) make iud9ements and estirnètes that are asonable and prudent- .) state whether applicable accounting Standard compnsing FRS 102 ènd statements of recomrnended prartice have beert followed, sijbiert to any matenal dertureS disclosed and explained In the financial statements- and e.} prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the chanty will continue In operots1)n. The Trustees are responsible lor keeping wjper accountsng rectyds that tan disclose with reasonable accuracy at any time the linancial position d the charitable company and enable them to ensure that the financial statements cOmY wilh the section 476 of the Companies Act 2006. They are also respongble for safeguarding the assets of the charitable company and hence for toking reasonable steps for the prevention and detection of fravd and other Irregularities. Small companles provlsion statement: This report has been prepared In accordance with the small companies regime under the Companies Act 2006. The financiol statemenrs were apwoved by the trustees, also directors of the charity on: Date I lo kL)L* Signed on behalf of the Board '. Name
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
I report to the trustees on my examination of the accounts of Reality Outreach Ministries International for the year ended 31st December 2023.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
Responsibilities and basis of report
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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- the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Date: 12.03.2024
Zita Derbak MAAT AATQB Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Incorporating income and expenditure account Notes INCOMING RESOURCES Donations 2a Charitable Activities 2b Other Trading Activities 2c Other Income 2d TOTAL RESOURCES EXPENDED Expenditure on: Raising Funds 4a Charitable Activities 4b Other expenditure 4c TOTAL NET INCOME/(EXPENDITURE) NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD Income and Endowments from: |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 9,604 7,312 16,915 13,392 12,620 0 12,620 16,451 1,950 0 1,950 3,157 334 0 334 0 24,508 7,312 31,819 33,000 1,087 0 1,087 2,009 28,093 7,420 35,513 37,495 0 0 0 180 29,181 7,420 36,601 39,684 -4,673 -109 -4,782 -6,684 -4,673 -109 -4,782 -6,684 22,754 215 22,969 29,653 18,081 106 18,187 22,969 |
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Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 14 form part of these financial statements.
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REALZTY OUTAEACH MINISTRIES INTERNATIONAL (L•mitÈd by Guarantee) C¢)mpany Registration Number: 317M38 BALANCE SHE AS AT 31 DECEMBER 2023 Unresfricted Funds Restntted 31-D•c.23 31-Oec-22 Funds Total Totsl F•xed Assets Tangible a55ers 7.463 7,463 Curlent Assets Stocks Debtors Cash at bank and In hand Totsl Curr•nt Assets 476 1.229 11.259 964 476 1,229 lJ.365 627 1,699 13,922 106 106 Creditors: arTh)unts falling due mthin one year io 2.346 2.346 2,367 NET CURRENT ASSETS 10.618 106 10.724 13.881 TOTAL ASSETS less current liabilities 18.081 106 18,187 22.969 Crnditors: amounts falling due in more than one year li NET ASSETS 18,081 106 18,187 22.969 Fund5 of the Charity General Funds Restricted Funds 18,081 18,081 106 22,754 215 12 106 Total Funds 18,081 106 18,187 22,969 For the year ending 3Jst December 2023 the Company was entitled to exemrtitsn from audit urthr section 477121 of the Companie5 Art 2006 relatino to small companies. l. The rnembers have not required the company to obtabfi an audit In èccordance with section 476 of the Companies Art 2006. and 2. The directors acknowledge their responsiblity for comJying with the requirements of the Companies Act 2006 with resoect to accounting records and for the Dreparation ol accounts. These financial statements have been prepa In accordance with the speoal provision5 applicable to companies subject to the small companies. girne within Part 15 of the Companies Art 2006. The financial statements on pages 8 and 9 were approved by the directors, and authonsed for issue on: Date.. (KFC Ko LOLVt Signed and approved by rn behalf ol all the DirectLYs: Pnnt name
REALITY OUTREACH MINISTRIES INTERNATIONAL
(Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Basis of preparation:
The financial statements of the charity, 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 with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The charity constitutes a public benefit entity as defined by FRS 102.
1. Accounting Policies
(a) Accounting convention
The financial accounts are prepared under the historical cost convention and are presented in accordance with the Statement of Recommended Practice (SORP) applicable to charities and Financial Reporting Standard 102.
(b) Basis of preparation of financial accounts The financial accounts of the Charity include all the assets and liabilities and incoming and outgoing resources under the control of its Trustees. Donations received for non-specific purposes or general funding are available for utilisation at the discretion of the Trustees.
Donations received for specific charitable projects are treated as restricted funds available only for use on such specified projects. Deficits on restricted funds are carried forward insofar as the Trustees are satisfied that future funding will cover such deficits.
(c) Going concern
The trustees of ROMI believe that though COVID-19 has had some impact in previous years due to continued support the Charity's ability to continue to operate as a going concern.
(c) Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its useful economic life: Drama equipment - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance
(d) Stocks Stocks comprising religious T-shirts, videos and DVDs are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
(e) Debtors
Debtors are stated at the amounts due to the Charity at the balance sheet date. Prepayments are recorded for the proportion of time based expenditures attributable to the ensuing year
(f) Cash and cash equivalents
This caption represents the amounts held in bank accounts and cash at the balance sheet date. This is held to meet the day to day running costs of the charity as they fall due.
(g) Creditors
Creditors are recognised as soon as an outflow of economic benefit is considered more likely than not to occur under a legal or constructive obligation committing the Charity to pay out resources. Creditors that are current liabilities are recognised at the settlement amount expected to be paid at the balance sheet date.
(h) Incoming resources
All incoming resources are included on a Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Deposits received for future performances are constructively non-refundable and recognised as income on receipt.
(i) Resources expended
All expenditure is recognised when the liability is incurred. The costs of generating funds and management and administration costs are met from unrestricted funds.
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
(j) Taxation
The Company is a registered charity and, in the opinion of the Trustees, is exempt from corporation tax on its surpluses on financial activities in accordance S.486 of the Corporation Tax Act 2010.
(k) Grant income recognition
A grant that becomes receivable on the occurrence of a certain specified future event is recognised in the financial accounts when the specified event has occurred and all the grantor's requirements associated with it have been complied with.
(l) Allocation and apportionment of cost
Direct expenditure relates to the provision of drama in furtherance of the charitable objectives and is disclosed as direct costs of charitable activities. The costs of fundraising trading include the cost of stock sold. Expenses relating to restricted funds are shown separately.
(m) Foreign currencies
Transactions in foreign currencies are recorded either at the rate of exchange at the date of the transaction or, in the case of expenditure at the rate at which corresponding foreign currency income was recorded. Foreign currency balances have been translated at the rates of exchange ruling at the balance sheet date.
| 2. ANALYSIS OF INCOME a) Donations and Legacies HO Donation ROM - East Africa Team b) Charitable Activities Income from churches c) Other Trading Activities Sale of Production merchandise Vimeo streaming sales d) Other Currency exchange gain Other Individual Donations Alumni |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2023 2022 £ £ £ £ £ 8,804 0 0 8,804 11,877 0 0 1,278 1,278 1,515 800 0 0 800 0 0 0 6,034 6,034 0 9,604 0 7,312 16,915 13,392 12,620 0 0 12,620 16,451 12,620 0 0 12,620 16,451 1,872 0 0 1,872 3,098 78 0 0 78 59 1,950 0 0 1,950 3,157 0 0 0 0 0 334 0 0 334 0 334 0 0 334 0 |
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
3. ANALYSIS OF EXPENDITURE
| a) Raising Funds Cost of goods sold b) Charitable Activities Wages and salaries Internet / Telephone Postage, shipping and stationary Bank / Transaction charges Liability insurance and professional fees Travel and subsistence Motor running costs Drama equipment Repairs and maintenance Depreciation Newsletter Conference space hire and advertising Webhosting and computer consumables Donations to Christian outreach organisations Bookkeeping and administration Companies House fees Independent Examiner's fees ROM - East Africa Project c) Other Expenditure Currency exchange loss 4. STAFF COSTS AND NUMBERS Gross Wages and Salaries Employer's National Insurance Costs Pension Contributions |
Unrestricted Designated Restricted TOTAL TOTAL Funds Funds Funds 2023 2022 £ £ £ £ £ 1,087 0 0 1,087 350 1,087 0 0 1,087 350 13,325 0 0 13,325 18677 496 0 0 496 569 352 0 0 352 76 37 0 0 37 65 1,129 0 0 1,129 897 1,969 0 1,386 3,355 4142 1,627 0 0 1,627 3666 215 0 0 215 586 982 0 0 982 120 2,273 0 0 2,273 2981 335 0 0 335 539 71 0 0 71 37 1,160 0 0 1,160 594 2,251 0 0 2,251 1990 525 0 0 525 593 13 0 0 13 13 1,332 0 0 1,332 1950 0 0 6,034 6,034 0 28,093 0 7,420 35,513 37,495 0 0 0 0 180 0 0 0 0 180 2023 2022 £ £ 13,325 18,677 0 0 0 0 13,325 18,677 |
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No employee received emoluments in excess of £60,000. (2021/22: None) Staff are paid through the PAYE system.
The total amount paid to key management personnel (includes trustees and senior management) for their services to the charity was: None. (2021/22: None)
The average full-time equivalent of staff is 2.
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
5. TRUSTEES AND OTHER RELATED PARTIES TRANSACTION
No payments were made to trustees or any persons connected with them during this financial period.
Reality Outreach Ministries Inc. (ROM Inc), a charitable company incorporated in Canada, is the Charity's parent undertaking in accordance with the provisions of the relevant United Kingdom Companies Acts. ROM has donated £800 to ROMI for general support.
£6,034 funds were used by ROMI on behalf of ROM Inc in the year to support setting up the East Africa team. (2022: None).
| 6. TANGIBLE FIXED ASSETS Cost 01-Jan-23 Additions Cost at 31-Dec-23 Depreciation 01-Jan-23 Charge Depreciation at 31-Dec-23 Net Book Value 31-Dec-23 Net Book Value 31-Dec-22 |
Total £ £ £ £ 27,124 33,600 11,191 71,915 343 0 305 648 27,467 33,600 11,496 72,563 23,026 30,937 8,864 62,827 1,025 666 582 2,273 24,051 31,603 9,446 65,100 3,416 1,997 2,050 7,463 4,098 2,663 2,327 9,088 Drama Equipment Motor Vehicles Computer Equipment |
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The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2023 : None
31st December 2022: None
| 7. STOCK Goods for resale 8. DEBTORS AND PREPAYMENTS Gift Aid Recoverable Prepayments Trade Debtors |
Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 476 0 476 627 476 0 476 627 Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 666 0 666 424 563 0 563 875 0 0 0 400 1,229 0 1,229 1,699 |
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| 9. CASH AT BANK AND IN HAND Cash at bank and on hand |
2023 2022 £ £ 11,365 13,922 11365 13,922 |
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REALITY OUTREACH MINISTRIES INTERNATIONAL (Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023
| Trade Creditors Taxes and social security C Snook expense account Accrued charges Other 12. RESTRICTED FUNDS Current Year Alumni ROMI - East Africa Team Previous Year Alumni 11. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR 10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 57 0 57 66 49 0 49 80 908 0 908 361 1,332 0 1,332 1,860 2,346 0 2,346 2,367 Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 0 0 0 0 0 0 0 0 Balance Balance 01-Jan-23 Income Expenditure Transfers 31-Dec-23 £ £ £ £ 215 1,278 -1,386 0 106 0 6,034 -6,034 0 0 215 7,312 -7,420 0 106 Balance Balance 01-Jan-22 Income Expenditure Transfers 31-Dec-22 £ £ £ £ 789 1533 -2,259 152 215 789 1,533 -2,259 152 215 |
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Alumni
Donations received from former cast members in support of overseas teams and operations. The expenditure charged against this income generally represents travel and subsistence in support of overseas operations and small equipment purchases for overseas teams.
ROMI - East Africa Team
ROMI received funds from ROM to assist with setting up the East Africa Team.
The restricted funds are wholly represented by cash reserves of the charity
13. RISK ASSESSMENT
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
14. RESERVES POLICY
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
15. PUBLIC BENEFIT
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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