CONNECTIONS TRUST FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31ST MARCH 2024 COMPANY REGISTRATION NO: 05698284 ( England and Wales) CHARITY REGISTRATION NO: 1113099
CONNECTIONS TRUST FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024 CONTENTS PAGE LEGAL AND ADMINISTRATIVE INFORMATION REPORT OF THE TRUSTEES INDEPENDENT EXAMINERS REPORT STATEMENT OF FINANCIAL ACTMTIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 9-12 DETAILED STATEMENT OF FINANCIAL ACTIVITIES 13
CONNECTIONS TRUST LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST MARCH 2024 CHARITY REGISTRATION NUMBER: 1113099 COMPANY REGISTRATION NUMBER- 05698284 REGISTERED OFFICE: 93 Acre Lane Brixton London SW2 STU SECRETARY Mr A Horswood TRUSTEES: Mr L Bent Mr A Omooba Mr D Wade Mr A Horswood BANKERS: CYBG Trading Virgin Money 7 Gold Street Northampton NN1 1EN INDEPENDENT EXAMINER- Allen Robyn and Associales Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ
CONNECTIONS TRUST REPORT OF THE TRUSTEES YEAR ENDED 31ST MARCH 2024 The truslees, who are directors for the purposes of company law. present the annual report together with the financial statements of the charitable company for the year ended 31st March 2024. Objectives and Activities ,Objects & Aims The objects of the trust are to advan Christian religion,missions. projects in the UK and supporting workers overseas. We also provide educats'onal programs, along with assisting the poor and needy. Review of Activites The work of Connections continues in Ihe UK and overseas. We are delighted to say that despite the economic difficulties our income for overseas missions did not decrease. Guyana For many years Guyana was a very poor county but praise God it is now developing with the discovery of oil and gas. Some churches are now able lo support inland churches and new workers, however there are slill needs to support pastors and workers. In areas such as way up the Essequibo river new churches are being developed as the gospel is preached in these ouuying regions. The children's home in Hauraruni is supported, as is the bible school which now mainly works wth Amer-lndians who go back lo Iheir villages to spread the gospel. We are able to support the work in Guyana on a monlhly basis. There are over 150 churches and the work is thriving. A visit to Guyana gave us an updated picture and helped us to make sure the money was used correcuy. Philippines We give monthly support to the Philippines and we see the works there evangelise great zeal. Virtually every month a new church is being built followng a crusade in a village. There are around 180 churches now. In some new pla$ they have gone lo a new village withoLrt a Chrislian Community, Put up a large tenl Ihen provided food for all the people then held a service. This method has seen many make decisions and new churches have been built. The workers are also trained to help in a crisis such as a major storm which they carry out very successfully. This work is in the Island of Mindanao one of the poorest islands in the Philippines. There is also a children's home and a bible school. A visit will take pla in 2024. Uganda We also give to Uganda on a quartedy basis. One church in the Isle of Sheppey not only gives financial support, but members often visit. Three schools have been built and sUPPOrted a5 are the teachers, there is a children's home which receives donations and a number of churches Thailand We support a missionary in Thailand on a monthly basis. We have to keep details confidential but it is a good work is going on there in difficult circumstances. Heart of Prayer, held full day prayer meelings in the UK. Poland and India. There is much blessing and power in these meetings. Worship Life Style headed by Jennifer Shidds held a number of seminars and meeting to help individuals and churches to grow into deeper worship, moving in the power of the Hoty SpiriL Heart of Prayer, held full day prayer meets'ngs in the UK and India. There is much blessing and power in these meetings . We now have Grace City Bible School as part of the things that Connections can offer. Run by Susie and Ray Djan wilh Freddie Roberson who was also a founder of the bible school. It meets many needs in a particular for those who want to leam more. All the directors of Connections are on the board of the bible school and they are also lecturers.
CONNECTIONS TRUST REPORT OF THE TRUSTEES YEAR ENDED 31T MARCH 2024 We have found Ihat dunng the year we have leaders who have been able to speak to the govemment and senior authorities in the UK. We have a building in Brixton which is our base and registered and we are also office. It has a flat which is rented out. We also have rooms that are rented to some ministries and together they help our administrat.on and staff costs. We re1ve a lot of thanks and we also re1ve requests for help. There is no doubt Conrning the needs and we do our best to meet as many as we can.11 is such a blessing to see the progress in the works we support and also to see some in povety who are helped. Connections could not exist wilhout our wonderful donors and our thanks go to each one of them. Public Benefit The truslees confirm that they have complie(I with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidan published by the Charity Commission for England and Wales. Connections Trust works in the UK wth churches and leaders plus feeding the hungry and homeless. We support children's homes in Uganda, Philippines and Guyana. We also support schools and bible schools. We help to advance the gospel through supporting workers in Guyana, Philippines, Thailand, Uganda, France, Denmark and Germany. We believe in helping local people to achieve education and we help in Guyana, Philippines, Uganda and Malawi. In many of these countries. we also help relieve povety- In the statements under Public Benefft we set points that deady show that we are meeting our charitable objectives. Financial Review Income for the year amounled to £106,049 12023. £89.6881 and expenditure £105,13212023. 97,084). The surplus was £917 for {2023'. (£7,416), and added to the fiJnd{s) brought forward giving general funds of £343,75512023. £348,135} and restrcted funds of £69,65712023. 64.3601 at the year end. Reserves Policy The truslees have considered the level of reserves they wish lo retain, appropriate to Ihe charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees will endeavour not to set aside funds unnecessanly costs anyone if itwas not forlhe wonderful donors and our thanks go to them. We have reiVed a lot of thanks and a number of requests for help. There is no doubt as to the needs and we shall endeavour to meet as many as we can. Going Concem After making appropriate enquiries, the trustees have a reasonable expectats.on that the chanty has adequate resources to continue in operational existence for the foreseeable fvture. For this reason they conlinue to adopl the going cOnM basis in preparing the financial statements. Structure. Governance and Management The company is constituted under a Memorandum of Association dated 6 February 2006 and is a registered charity number 1113099. Recruitment and Appointment of Trustees The managemenl of the company is the responsibility of the trustees who are elected and co-opled under the temis of the Articles of Associatson.
ONNECTIONS TRU REPORT OF THE TRUSTEE5 YEAR ENDED 31ST MARCH 2024 Risk Management The tru¥lEes have as8es¥ed the rJOr risks tD lh8 ctsity is exposed. in paTti¢ular those reted to the ODerations and finances of the charily. are 3ati8fied Ihat syst8ms and pr(wlurès are place to mitsgale our exposurè lo th8 major risks. Statement ot Tntstse ReSPolb511ttes The iruslee5 (who are also the directors of Connecti% TA1 for the purposes of comp8ny18wI are responsible for preparing the tnjstees, retM)rt and the finatKial tstemerts in aco)rdance with applicable law and United lQngdom Accounting St3ndard$ (Unitèd King¢Jom Generalty Accepted Accounttru Pradire), )ndL1J FRS 102 The Finanual Repottng Strndard appli(3ble in the UK and Repub¢ of Irelanir Company law requires the tNstees to prepare financid ststements for each fiTI•IGial year. Undcr company law Ih Irustees rTlUSt not approve thc financi81 statem8nl4 they are satisfied that they give a true and fair view of the state of affairs of Ihe charftsb1E comwy and of thc incoming resources ènd application of resources, including its income and expenditure. of lh8 Chaiitab companyforthaL In preparing thcse financial statemp.nls. the trublS are required to". In preparing those finan(ial s18lements. the trustre5 are required to: - select quitable accounllna polici and then apptytheEii (SIstenty. - the rnelhi)ds and principles in th8 r.hAiity SORP" - make judgements an¢J eslimates that are reasonabk and prudwt. - statg whether appllcable accounling stsndards, compnsing FRS 102 li FKen follryrted. subjectto any matetial departures disdosed and •xrAaÈnp.d in the finala1 statements.. and - prepare the financial statements on the going conGem basis L5nless it is inappropriate to prnsume that the charitable company wtll continue In busirTress. The trustees are reswnsible for keeping proper ac(ti Tery)tds Ih Lan disclo8e with reascnable accuracy at any time the financial positron of the Charitab company and enabla them to gnsure that the finanual ststerfjents compty with the Companles AG"I 20C6. They are also responsible $8fegu¥rding th8 assets of the charrtable compary and hencé for tskino reasonable steps ftthe prevenkn and detection of fraud and other ifregularities. Small companies provision statsfflent This report has been prepared in accordan(. wtth the small companies 91m$ un(Jer the CThTipanies Act 2006. The annual report was apwoved bythe oflrustces ofthe charity on 8nd syned on ILS behaw by. ON BENALF OF THE TRUSTEES: 414ut-gtha Mr A Horswood Company secrelary and trustee
REPORT OF THE INDEPENDENT EXAMINER CONNECTIONS TRUST YEAR ENDED 31ST MARCH 2024 I report to the charity trustees on the accounts for the year ended 31 st March 2024 set out on pages six to e1Ve. Responsibility and basis of the report As the charitvs trustees of the company (who are also the directors for the purposes of company lawl you are responsible for the preparation of Ihe accounts in accordance with the requirements of Ihe Companies Act 2006 I'lhe 2006 Act). Having satisfied myself that the accounts of Connections Trust are not required to be audiled under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)Ibl of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connect.on wth the examination giving me cause to believe- 1. accounting records were not kept in respect of Connections Trust as required by section 386 of the 2006 ' Act,. or 2. Ihe accounls do not accord with Ihose records". or 3. the accounts do not comply with the accounting requirements of seth.on 396 of the 2006 Act olher than any requiremenl Ihat the accounts give a 'true and fair view which is not a matter considered as part of an independent examination., or 4. Ihe accounls have not been prepared in accordance wilh the methods and principles of the statement of Recommended Practi for accounting and reporb.ng by charit.es lapplicable to charities preparing their accounts in accordan wth the FinancialReporting Standard applicable in the UK and Republic of of Ireland IFRS 10211. I have no COnmS and have come across no other matters in connection wth the examination to which attention should be dravm in this report in order to enable a proper understsnding of the accounts to be reached. Rolston Allen Robyn and Associates Ltd Chartered Certified Accountants 367 Caledonian Road London N7 9DQ Date.. 12112124
CONNECTIONS TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST MARCH 2024 INCOMING RESOURCES Notes Restricted Funds Unrestricted Funds Total 2024 Total 2023 Incoming resources from genernted funds Voluntary income 33 605 106 049 89 668 RESOURCES EXPENDED Cost of generating funds Charitable activitses Governance cost Management costs Finance cost 57.194 14,961 600 22,427 72,155 600 31,924 453 66,273 600 29,636 575 9.497 453 TOTAL RESOURCES EXPENDED 105 132 NET INCOMEIEXPENDITURE FOR THE YEAR 5,300 (4.3831 917 17,416) Transfer between funds RECONCILIATION OF FUNDS Tolal funds brought forward 412 495 419911 TOTAL FUND CARRIED FORWARD 41 None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2024 or 2023 other than those induded in the statement of financial activities. The notes on pages 9 to 13 foTh part of these accounts.
CONNEenoNS TRUST 8ALANCE SHEET YEAR ENDED 31ST MIRCH 2024 2024 2D23 FIXED ASSETS Taivjible assets CURRENT ASSET5 Debtors Cash at b8nk and in hand 10 4.331 9.433 CREDrroRS= due withln one wr 11 600 Net Current Ptss¢ts TuffvL ASSETS LESS CURRENT UABILMES 2024 2023 FUNDS: Restricted Funds UnTtrICted Fund6 12 12 69,660 64,360 The chafitsblo ¢ompany18 enlilled to exemption from audit und¢r section 477 ofthe Comwiès Act 2006 for the year ended 31st March 2024. The Directors a(nowl8dge their resFonsibiltbes for. - Tho mèmbers have not required thè chafitylo obtain an audit of ds 8¢xnIS forthe 48r in question in acGordarEce th seCt)n 476.. arKI - The dIrt(S thowledge their respork8ibiStrs for cor1vln9 vnlh the requuemcnts of the Ad wth respect to accounn.ng a£ the preparniion of accounts. These finanaal sl8tem&nls have been preparpd in Arrnr1ignr with the special provisions r8lating to corrpanies 5ubjecl to the small companies regiTh wlhin Part 15 ofthe Compan Acl 2006. The financial statwments on pages 8 to 12 We appVe by I1 Irustees. and aullK¥rised for issue on and signed on their behalf bw_ Mr A Horswood Company secT8tary arKt trustee The leS on pw 9 to 13 fDrm part of these act¥)unts.
CONNECTIONS TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2024 Charity Ststus The charity is limited by guarantee, incorporated in England. and consequently does not have share capital. Each of the trustees is liable lo conlribute an amount nol exceeding £1 towards the assets of the charity in the event of liquidation. Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparalion of these financial ststements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of preparing the financial statements The financial statements have been prepared in accordan with Accounting and Reporting by Charities.. Slatemenl of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporb"ng Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019) - (Charities SORP {FRS 102) .The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20C6 and charib.es Act 2011. Accounting convention Connections Trust meets the definit.on of a public benefit ent.ty under FRS 102. Assets and liabilities are inib.ally recognised al historical cost or transaction value unless otherwse slated in the relevant accounting policy notes. Going Concem The trustees consider that there are no material UnrtaIntieS about the charitys ability to continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by Ihe charity. Income and endowments All income is recognised once the charity has entitlement to the income. rt is probable that the income will be reiVed and the amount of the income receivable can be measured reliabty. Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and serfement date. In the event that a donation is subject to conditions that require a level of perf0mlan by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or Ihe fuifilment of those conditions is wholly within the control of the charity and it is probable that these conditions 11 be fulfilled in the reporbng period. Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value lo the charity or the amounl actually realised.Those for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are induded in the SOFA as incoming resources when receivable. Donated services and facilities These are only included in incoming resources Iwth an equivalent amount in resources expended) where the benefil lo the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or faulity received. Gifts aid Incoming resources from tax reclaims are induded in the SOFA in the same financial period as the gift to which they relate.
CONNECTIONS TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2024 Inlerest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is normally upon nolification of the interest paid or payable by the institution with whom the funds are deposited. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. AJI costs are allocated to the applicable expenditure heading that agggate similar costs to that category. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature nesSary to support them. Grant expenditure These are only recognised in the accounls when a commitment has been made and Ihere are no conditions to be met relating to a grant which remain in control of the charity. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potenlially exempt from taxation in respect of income or capilal gains received wthin calegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to Ihe extent that such income or gains are applied exdusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impaiment losses. Depreciab"on is provided at the following annual rates in order to WTite off each asset over its estimated useful life. Asset class Land and buildings Fumtiture and equipment Depreciation method and rates straight line basis 250k straight line basis Fund Accounting Unrestricted funds can be used in accordan wth the charitable objectives at the discretion of the trustees. Restricted funds can only be used for parb"cular restn.cted purposes within the objects of the charity- Restrictions arise when specified by Ihe donor or when funds are raised for particular resln'cted purposes. Further explanation of the nature and purpose of each fund is induded in the notes to the financial statements.
10 CONNECTIONS TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2024 2. VOLUNTARY INCOME Restricted Funds 61.890 Unrestricted Funds 3,430 4,331 1,960 18,270 620 153 Total 2024 Totsl 2023 Donations Gift aid reclaimed Conference and course fees Rental income Investment income Sale of books and tapes Olher income 65,320 4,331 12,514 18,270 620 153 65,673 4,596 980 14,325 170 80 10.554 Total incoming resources 3. CHARITABLE ACTIVITIES Restricted Funds 36,412 8.420 Unrestricted Funds 14.661 300 Total 2024 Total 2023 Overseas giving Through gifts Olher giving Conferences and courses 51,073 8,720 58,874 5,050 549 4. GOVERNANCE COST Restricted Unrestricted Funds Funds £600 Total 2024 Total 2023 Accountancy and examiner fees £600 £600 Restricted Funds Unrestricted Funds 5. MANAGEMENT COSTS Total 2024 Total 2023 Subscriptions Utilities Insurance Repairs and renewals Telephone Motor and travel Printing, post and ststionery Professional fees Reimbursements and sundry Depreciation Wages and Salaries 83 83 3,892 5,946 1,266 1,690 2,790 239 8,286 £3,955 501 6,695 5,565 10,290 1,479 3,892 5,946 138 1,690 2,790 239 1.128 8,286 £1,625 £3,955 £22 427 £31 924 £29 $36 6. FINANCE COST Restricted Funds Unrestricted Funds Tolal 2024 Total 2023 Bank charges £453 £453 £575 7. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remunerakn'on paid for the year ended 31st March 2024, nor for the prior year. Trustees. expenses There were no tnjstees. expenses paid for the year ended 31 st March 2024, nor for the year ended 31 st March The average number of employees analysed by function '. 2024 2023
CONNECTIONS TRUST NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31ST MARCH 2024 No employee received remuneratr.on of more than £60,0 per annum. 8. STAFF COSTS 2024 2023 Wages and salaries 9. FIXED ASSETS Land and buildin Furniture and equipment Totals COST At 1st April 2023 Additions 340,000 7,004 347,004 At 31st March 2024 340 000 DEPRECIATION Al 1st April 2023 Charge for the year 7,004 7,004 Al 31st March 2024 NET BOOK VALUE As at 31 st March 2024 As at 31st March 2023 10. DEBTORS 2024 2023 Accrued income 11. CREDITORS . Amounts falling due after one year 2024 2023 Accruals 12. MOVEMENTS IN FUNDS Incornin Kesource Iransier Movement In Restricted Funds 72.444 67,144 5,300 Unrestricled Funds Restricted Funds Unrestricted Funds Tolal 2024 Total 2023 General fund for the year General fund brought forward 5,300 (4,3831 348 135 917 412 495 64,360 348 135 Total funds Funds for the year and prior year has been restated to reflect restricted funds representing tangible assets
12 YEAR ENDED 31ST MARCH 2024 NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31ST MARCH 2024 13. RESTRICTED FUNDS BY LOCATION Europe France Guyana Philipines India Kenya Malawi Nigeria Phillipines Russial Belarus Suriname Thailand Uganda UK Venezuela Undassified 6,881 64 12,116 17,343 12,539 7,328 19,672 25 59 19 18,484 101 24 3,170 1,057 5,551 101 3,483 811 17,101) 35 962 Total Restricted Funds
13 CONNECTIONS TRUST INCOME AND EXPENDITURE YEAR ENDED 31ST MARCH 2024 Restricted Funds Unrestricted Funds Total 2024 Total 2023 Incoming Resources: Voluntary income: Donations Gift aid reclaimed Conference and course fees Rental income Investment income Sale of books and tapes Other income 61.890 3,430 4,331 1,960 18,270 620 153 65,320 4,331 12,514 18,270 620 153 65,673 4,596 980 14,325 170 80 10.554 Total incoming resources RESOURCES EXPENDED: Charitable activities: Overseas giving Through gifts Olher giving Conferences and courses 36.412 8.420 14,661 300 51,073 8,720 58,874 5,050 549 GOVERNANCE COST Accountancy and examiner fees £600 £600 £600 SUPPORT COSTS: MANAGEMENT Subscriptions utilities Insurance Repairs and renewals Telephone Motor and travel Printing, post and stationery Professional fees Reimbursements and sundry Depreciab"on Wages and Salaries 83 83 3,892 5,946 1,266 1,690 2,790 239 8,286 3,955 501 6,695 5,565 10,290 1,479 3,892 5,946 138 1,690 2,790 239 1,128 8.286 1,625 3,955 £22 427 £31 924 £29 636 FINANCE COST Bank charges £453 £453 £575 Total resources expended Net expenditure