Diamonds International Christian Ministries
Charity No. 1123612
Trustees' Report and Unaudited Accounts
31 March 2023
Diamonds International Christian Ministries Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | - |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Statement of Cash flows | 12 to 12 |
| Notes to the Accounts | 6 to 11 |
| Detailed Statement of Financial Activities | 13 to 14 |
Page 1
Diamonds International Christian Ministries Trustees Annual Report
DIAMONDS INTERNATIONAL CHRISTIAN MINISTRIES
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1123612
Trustees
The following trustees served during the year:
M.A. Dalrymple
J. Gentles
G. Lennon
Accountants
Borasana Limited
55 Jasmine Grove
London
SE20 8JY
OBJECTIVES AND ACTIVITIES
A larger charity must provide an explanation how the achievement of its aims will further its legal purposes...
A larger charity must provide an explanation of its strategies for achieving its stated aims and objectives...
A larger charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...
A larger charity should provide a more detailed explanation of its short-term and long-term aims and objectives...
ACHIEVEMENTS AND PERFORMANCE
A larger charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...
PLANS FOR FUTURE PERIODS
A larger charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...
A larger charity's report should explain the trustees perspective of the future direction of the charity...
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Page 2
Diamonds International Christian Ministries Trustees Annual Report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
M.A. Dalrymple Trustee 31 March 2023
Page 3
Diamonds International Christian Ministries Independent Examiners Report
Independent Examiner's Report to the trustees of Diamonds International Christian Ministries
I report to the trustees on my examination of the financial statements of Diamonds International Christian Ministries for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements 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 can confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Orvil Plummer ACCA Borasana Limited 55 Jasmine Grove London
SE20 8JY
- 31 March 2023
Page 4
Diamonds International Christian Ministries Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other 5 Total Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total Net gains on investments Net income 9 Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds |
|---|---|---|---|
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| 4,460 | 4,460 | 2,272 | |
| 20,599 | 20,599 | 25,222 | |
| - | - | 2 | |
| 25,059 | 25,059 | 27,496 | |
| 722 | 722 | 5 | |
| 14,907 | 14,907 | 2,452 | |
| 6,568 | 6,568 | 15,844 | |
| 22,197 | 22,197 | 18,301 | |
| - | - | - | |
| 2,862 | 2,862 | 9,195 | |
| - | - | - | |
| 2,862 | 2,862 | 9,195 | |
| 2,862 | 2,862 | 9,195 | |
| 14,829 | 14,829 | 5,634 | |
| 17,691 | 17,691 | 14,829 | |
Page 5
Diamonds International Christian Ministries Balance Sheet at 31 March 2023
| Charity No. 1123612 Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors:Amount falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds Reserves 14 Total funds |
2023 £ 934 934 606 17,032 17,638 (881) 16,757 17,691 17,691 17,691 17,691 17,691 17,691 |
2022 £ 385 |
|---|---|---|
| 385 606 14,638 |
||
| 15,244 (800) |
||
| 14,444 14,829 |
||
| 14,829 | ||
| 14,829 | ||
| 14,829 | ||
| 14,829 | ||
| 14,829 |
Approved by the trustees on 31 March 2023
And signed on their behalf by:
M.A. Da l rymple Trustee 31 March 2023
Page 6
Diamonds International Christian Ministries Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
Diamonds International Christian Ministries Notes to the Accounts
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
Diamonds International Christian Ministries Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Tithes & Offerings 4 Income from charitable activities |
Unrestricted £ 4,460 4,460 Unrestricted £ 20,599 20,599 |
Unrestricted funds 2022 £ 2,272 25,222 2 27,496 5 2,452 15,844 18,301 9,195 9,195 9,195 5,634 14,829 Total 2023 £ 4,460 4,460 Total 2023 £ 20,599 20,599 |
Total funds 2022 £ 2,272 25,222 2 |
| 27,496 5 2,452 15,844 |
|||
| 18,301 | |||
| 9,195 | |||
| 9,195 | |||
| 9,195 5,634 |
|||
| 14,829 | |||
| Total 2022 £ 2,272 |
|||
| 2,272 | |||
| Total 2022 £ 25,222 |
|||
| 25,222 |
Page 9
Diamonds International Christian Ministries Notes to the Accounts
5 Other income
| 6 Expenditure on raising funds Costs of generating voluntary income Tithes & Offerings 7 Expenditure on charitable activities Expenditure on charitable activities Governance costs Office /General Administrative 8 Other expenditure Meeting Expenses Guest Speaker expenses Advertising /Promotional Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs |
Unrestricted £ 722 722 Unrestricted £ 14,041 866 14,907 Unrestricted £ - - - 3,271 - - 3,297 - 6,568 |
Total 2023 £ - - |
Total 2022 £ 2 |
|---|---|---|---|
| 2 | |||
| Total 2023 £ 722 722 Total 2023 £ 14,041 866 14,907 Total 2023 £ - - - 3,271 - - 3,297 - 6,568 |
Total 2022 £ 5 |
||
| 5 | |||
| Total 2022 £ - 2,452 |
|||
| 2,452 | |||
| Total 2022 £ 629 1,909 283 2,595 4,147 96 4,706 1,479 |
|||
| 15,844 |
Page 10
Diamonds International Christian Ministries Notes to the Accounts
| Diamonds International Christian Ministries Notes to the Accounts |
||||
|---|---|---|---|---|
| 9 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 10 Staff costs No employee received emoluments in excess 11 Tangible fixed assets Cost or revaluation At 1 April 2022 Additions At 31 March 2023 Depreciation and impairment At 1 April 2022 At 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 12 Debtors Trade debtors 13 Creditors: amounts falling due within one year Other loans Accruals 14 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds |
of £60,000. | 2023 £ - £ 1,907 549 2,456 1,583 1,583 873 324 2023 £ 606 606 2023 £ 81 |
£ 280 - 280 219 219 61 61 |
2022 £ 96 £ 2,187 549 |
| 2,736 | ||||
| 1,802 | ||||
| 1,802 | ||||
| 934 | ||||
| 385 | ||||
| 2022 £ 606 |
||||
| 606 | ||||
| 2022 £ - |
||||
| 800 | 800 | |||
| At 1 April 2022 14,829 14,829 |
881 Incoming resources (including other gains/losses ) £ 25,059 25,059 |
Resources expended £ (22,197) (22,197) |
800 | |
| At 31 March 2023 £ 17,691 |
||||
| 17,691 |
Page 11
Diamonds International Christian Ministries Notes to the Accounts
15 Analysis of net assets between funds
| 15 Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets 16 Reconciliation of net debt Cash and cash equivalents Borrowings Net debt |
At 1 April 2022 £ |
Unrestricted funds £ 934 16,757 17,691 Cash flows £ |
Total £ 934 16,757 |
| 17,691 | |||
| At 31 March 2023 £ |
|||
| 14,638 | 2,394 | 17,032 | |
| 14,638 - |
2,394 | 17,032 (81) |
|
| (81) | |||
| - 14,638 |
(81) 2,313 |
(81) | |
| 16,951 | |||
Page 12
Diamonds International Christian Ministries Statement of Cash flows
for the year ended 31 March 2023
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Decrease in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Net cash (used in)/from investing activities Cash flows from financing activities Repayment of borrowings Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ 2,862 - 2,862 (549) (549) 81 81 2,394 14,638 17,032 |
2022 £ 9,195 (860) |
|---|---|---|
| 8,429 - |
||
| 2 | ||
| - | ||
| - | ||
| 8,431 | ||
| 6,207 | ||
| 14,638 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 17,032 | 14,638 |
| 17,032 | 14,638 |
Page 13
Diamonds International Christian Ministries Detailed Statement of Financial Activities
for the year ended 31 March 2023
| Income and endowments from: Donations and legacies Tithes & Offerings Charitable activities Other Total income and endowments Expenditure on: Costs of generating donations and legacies Tithes & Offerings Total of expenditure on raising funds Charitable activities Governance costs Office /General Administrative Total of expenditure on charitable activities Other expenditure Meeting Expenses Guest Speaker expenses Advertising /Promotional Motor and travel costs Travel and subsistence Rent General administrative costs, including depreciation and amortisation |
Unrestricted funds 2023 £ 4,460 4,460 20,599 20,599 - - 25,059 722 722 722 14,041 14,041 866 866 14,907 - - - - 3,271 3,271 - - |
Total funds 2023 £ 4,460 4,460 20,599 20,599 - - 25,059 722 722 722 14,041 14,041 866 866 14,907 - - - - 3,271 3,271 - - |
Total funds 2022 £ 2,272 |
|---|---|---|---|
| 2,272 | |||
| 25,222 | |||
| 25,222 | |||
| 2 | |||
| 2 | |||
| 27,496 5 |
|||
| 5 | |||
| 5 - |
|||
| - | |||
| 2,452 | |||
| 2,452 | |||
| 2,452 629 1,909 283 |
|||
| 2,821 | |||
| 2,595 | |||
| 2,595 | |||
| 4,147 | |||
| 4,147 | |||
Page 14
Diamonds International Christian Ministries Detailed Statement of Financial Activities
| Depreciation of Depreciation of Bank charges Equipment leasing and hire charges General insurances Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
- - - - 403 - 808 - 1,764 322 3,297 - - 6,568 22,197 - 2,862 2,862 - 2,862 14,829 17,691 |
- - - - 403 - 808 - 1,764 322 3,297 - - 6,568 22,197 - 2,862 2,862 - 2,862 14,829 17,691 |
81 15 253 1,417 325 103 111 100 2,216 181 |
|---|---|---|---|
| 4,802 | |||
| 1,479 | |||
| 1,479 | |||
| 15,844 | |||
| 18,301 - |
|||
| 9,195 | |||
| 9,195 - |
|||
| 9,195 | |||
| 5,634 | |||
| 14,829 |
Page 15