EMPOWERED COMMITTED CHRISTIAN MINISTERIES ANNUAL REPORT & FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 Registered Charity Number 1150253
EMPOWERED COMMITTED CHRISTIAN MINISTRIES FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 CONTENTS PAGES Officers and professional advisers Report of the trustees 3to7 Report of the Independent Examiner Statement of financial activities Balance sheet 10 Cash flows statement 11 Notes to the financial statements 12to18 Page 1
EMPOWERED COMMITTED CHRISTIAN MINISTRIES OFFICERS AND PROFESSIONAL ADVISERS The Board of Trustees W. J. Beah (Chairman) M. C. Lhotel-Nzelu M. Essiet Registered Office 13 Gifford Avenue Manchester M9 6JH Independent Examiner Edwige Fomo CGMA EFK & CO Consulting Ltd 132-134 Great Ancoats Manchester EngSand M4 6DE Banker Natwest Bank PIC 60 Portland Street Manchester M14QT Page 2
EMPOWERED COMMITTED CHRISTIAN MINISTRIES REPORT OF THE TRUSTEES YEAR ENDING 31 DECEMBER 2023 The Trustees present their reptsrt together with the financial ststements of the charity for the year ended 31 December 2023. The financial statements have been prepared in a¢cor¢Jance wth the accounts'ng policies set out on pages 12 to 13 and comFdy with the Charity's Trust Deed and applicatAé law. These financial statements comply with the Charities Aet 2011. the ACleS of Assoeiation, and Accountln9 and Reporting by Charities.. Ststement of Recotnmended Practice applicatrAe to Charth"es preparing their accounts in accordance wth the Financial Reporting Standards appliCale in the UK and Republic of Ireland IFRS1021 (charl'e$ SORP IFRS1021 and the Charilles Act 20111. OBJECTIVES AND ACTIVITIES The objectives of ECCM are for the benefrt of the public It exists to.. 1. To advance th6 Christian faith in aecordance with the statemént of faith in such ways 2nd in such parts of the United lingdom 01 the world as the trusteès from *'rne to lime may think fit 2. To relieve health and f nancial hardship and to promote and pieserve sound bocty and soul by the provision of funds. goods or services of any kind, including through the provision of counselling and support in such parts ol the united kingdom 01 th8 world as the trustee8 from ts'me to b.me may think fit 3. To advance educth.on in such ways and in sueh parts of the United Kingdom or the world as the tiustees from t£rne to time may think fit ECCM Statement of Faith We believe In God, the Father almighty, creator of hezven and èarth. We believe in Jesus Christ His only Son. our Lord. He was con1ved bythe power of the Holy Spirit and was born ol the virgin Mary. We beli8ve suffered under Pontius Pilate, was Crucified, died, and was buried foi our sins. We believe He descended to hell and rose again on the third day. We believe He ascended into heaven and Is seated at the right hand ol the Father where He 711 oomè again to judg6 the living and th8 dead. We believe in the Holy Spirit and the Holy Church of Go(J wrth thè communion of the saints, the forgivenè55 of sins, the reBurr8cbon of the body. and the life everlasb"ng. knen. STRUCTURE, GOVERNANCE AND MANAGEMENT ECCM is a charitable Trust constituted by a Trust Deed. The charity is governed by the Trustees listed on page 2. New Tiustees are app(xnt8d by the existing Board of TrustEes based on their expprti5e and invofvement in furthering the mission and VIOrn tsf the charity. Th8 Board of Trustees has a variety of exrienCe inclu(4ng Christian ministry, legal and commerual business skills. The 8oard is accountall6 to the Charty Cornrnission for the careful use of charitsble and other pu1¢ funds provided in a variety of forrns, and for the a¢hlevement of approprlate perforrnance standaid5 in setvice delivery. The Board of Tiuslees meets quartedy to oversee the vision and str8tegies of the charity. th the growth of actiwties ol the Tiust, an ever-increasing levd ol experb"$e 1$ rttqulred on a day-to-day basi6 and an established management team is in place that is capable ol iunning the affairs of the Charity. The trustees listed on page 2, are in charge of the day-to-day management matters and are accOuntae to the trustees. They are not paid by the charity. This is reviewed annually and might change in aeeordance wrth average eainings and the charty's funds availatAe. Page3
EMPOWERED COMMITTED CHRISTIAN MINISTRIES REPORT OF THE TRUSTEES YEAR ENDING 31 DECEMBER 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT (Continued) The Tiusteès ièmain committed to advandng the Christ'an faith. Trustee Induction and Training There ale no specific policies and procedures for the inductionftraining of trwtees. However. they are inductèd according to individual requirements. A copy of thè Charity's Trust Deed is supplied. along wth the chaitys pdiaès and procadures and copies of recent board meeting minute¥ and accounts. Indiwdual Tiustee5' rolésliesponsitxlities are negotiated wth all the trustees so that their roles complèment eath other. The Trustees make strategic decisions basad on the finanaal pos"0n of the church. PUBLIC BENEFIT The Truslees have pad due regard to the Charity Commission's gUanCe on public benefit in deciding the activities undertaken by the Charity in the year. The Tiustees are satisfied that the infoimalion provided in the report and a¢¢ounts m8ets the public benefit reporting rèquiiemeDts. ACHIEVEMENTS AND PERFORMANCE The year 2023 was a yèar of continued growth for Ernpowered Committed Christian Ministries IECCMI. ECCM was predominanuy focused on stabllity and ensuring continuous irnprovemenl in all aspects of its operations which included its charilablg activib"e8. youth empowerrnènt, and strong cornmunity engagement. To this end. planned ath"vities were conducted tts support the achievement of the operational goals. Thesè wèrè.. Support for deprtved communities in Africa 2. Youth Empowerrnent Prograrn 3. Relationship Counselling 4. Chureh Leadership Confèrence 5. Ordination of Bishop, Pa8tors, Ministers and Evangelists ECCM'S defacto activitie8 were maintaine<J as is. These w8r6'. WeeY prayer8 2. Sunday service 3. Counselling ECCM engaged in various community support activiti88 in deliveiing relief items and rendering services to vulnerable church members and the cornrnunity at large. These were. Distribution ol food parcels 2. Support prayer5 Page4
EMPOWERED COMMITTED CHRISTIAN MINISTRIES REPORT OF THE TRUSTEES YEAR ENDING 31 DECEMBER 2023 ACHIEVEMENTS AND PERFORMANCE (Continued) Staff and volunteers During this year the charlly paid foi the seryices ol sorne people, such as mechanics for Van8 repalrs, Accountant for the bookk$etx"ng and gift aid piocessing. NJI othei ar8as of the churchlchaiity are essentially filled by volunteers wthout whorn the charity could not function. FINANCIAL REVIEW The Trustee8 have prepared the awounting policies for Ernpowered Committed Christian Ministries in accordance with the requirements of SORP and of best accounting prath"ce. Review of the year The Trustees are p18ased to report a period of stiong financial growth. The baseline income has gone up to £55.990 12022". £46.1001. The c08ts went down to £35,34212021." £21,312) and were contained within budget due to strong Inancial manauement and good cost control. Income and Expenditure ECCM relies on voluntary income as its prinripal Sour of funding. Totd donotson and legacies, Induding Gift Aid, amounted lo £55,99012022.. £46,100) Tithes reiVed frorn church members amounted lo £6,388 12022.. £13,195) which constitutes 13O1ts12022.' 29%1 of all vcAuntary income,. Offerings & Pledge donations (including Gift Aid) totalled £31.75212022'. £30,504) which accounts for an 8Xtra 57%12022.' 660AI of voluntsry income., £7,480 funding in thi5 year for Thanksgiving is12022.' £2,400> represents 13°h12022.' 5*hl of voluntsry income. The oosts ol raising funds amounted to £4.54412022.' £1.7051, the costs of fund generating a¢lSvitie8 were £3.852 12022.. £1.4921 Governance The £60012022.. £5001 'governance' costs indudè the costs 8ssociated with independent examinatrn of the accounts. Surplus The total incorning resources exceeded the resoureÈs expended in the period by £20,64812022'. £24,7881 and this is held as unrestrictad funds. Balance Sheet The Balance Sheèt as at 31st Decembei 2023 was strong ensurino that the charity has the assèts required to deliver its Commitments to the community. Included in Fixed a35ets are Motor Vehides and PA $y$lems valued £37,88112022.' £8,126). Pages
EMPOWERED COMMITTED CHRISTIAN MINISTRIES REPORT OF THE TRUSTEES YEAR ENDING 31 DECEMBER 2023 FINANCIAL REVIEW (Continued) Reserves policy The Trustees have adopted a reserves policy which they consider appropritte, to ensure thè continuing abilty of ECCM meet ts objectives and oNigation8. The policy also seeks lo maintain an aeceptable ratio b&een the free reserves and the level of unrestricted cash expenditure. 'Free reserves, are represented by the unrestiicted funds less the tangible fixed assets. 'Unrestricted cash expenthture, repFesents the operating costs for the year less the ¢h8rge for depr8ciation. The Charity does not intend to accumulate gnificant resetves but depends upon the ongoing support of its donors lo meet future ¢osts. In ordei to be prudent the ¢harity aims to reseNè 2 Years of operational costs al any one time., this would cover the charty in th8 event ol unforeseen expendthre. Risk policy The Trustee8 ¢onduct an on-going review of major risks as part of its regular monitoring and reporting. Internal risks arè minimistsd by the implèmentatson of w0dureS in regard to 0d pia¢tice child protection policies. fire safety and health and safèty InspeetlQn8 where the Charty's adivities opeiate Financial rl$ks are mlnlmised by the implemenlab.on of piocedures for the authoiisation of all tran8ath.ons on a regular basis. PLANS FOR FUTURE PERIODS We aim to build on our good work and achièvements of the previous year. In 2024. we aim to consolidate our efforts to foster our presence in our immediate community Looking ahead In 2024 plans to continuè its strong focus on the following areas". Extend our charitable activities to local care n8ed6 and faalities by donating to such e8tabllshmènts as deemed feasible by the trustees and church leadership. We seek to move Into our permanent premisès to gvè us the spac8 we need to grow exponentially. We seeklo perform the follorng events forthe year 2024.. Wornen conference 2. Men conference 3. Leadership Conference 4. Marriage Conference 5. Improve our online presènce through soci81 networf(s and website Page6
EMPOWERED COMMITTED CHRISTIAN MINISTRIES REPORT OF THE TRUSTEES YEAR ENDING 31 DECEMBER 2023 TRUSTEES, RESPONSIBILITIES Charity Law requires the tiustèes to prepare financial slaternents for each financial year which give a tiue and fail view of the state of affairs ol the charity and of rt5 finanual activities for that year together with its assets and liabilities at the end of the year, adequately distinguishing any material. speciai trust or othe[ iestiicted fund of the charity. In preparing those financi81 ststements, the dSre¢l¢is are required to.. al seleet suitable accounting policies and then apply them Consistent.. bl make judgmants and estimates that ale reasonable and prudent., cl stsle the1her the pollcies adopted are in accordan with thé appropiiale SORP on accounting by Charits'es and the Accounting Regulations and 1th applicable accounting standard5 subject to any material dèpartures disdosèd and explained in the financial ststernents", and dl prepare the financial statements on the going concern basis unless il is inappropriate to assume that tt)e charity will contsnue in its activities. The tfustèès ale respons1tAe for keeping proper accounting rècords which disclose with rea80nab5e aeouraey at any brne the financial position of the chaiity and to enable them to ènsure thatthe finaneial staternents comply with thè Stat8rnents of Rècommended Practice and the regulations made under section ol the Charities Act 2011. They are a150 responSie for safeguarding the assets of the charity arKI hence for taknng reasonae steps for the prevention and deteeton ofiraud and iiregulaiities. The tiuslees have the power to invest in such Assets as they see fit Dalg..,. Trustee........................................ N8me of Trustee,.. .......................... RELATED PARTIES A summary of transactions wlh related parties 1$ set out in nots 14 of the financial statèments. The Trustees declare that they have approved the trustees, reptsit above Signed on behalf of the charity's Trustees Signed by Williams. J. Beah (Chairman) Date .' 05th July 2024 Page7
EMPOWERED COMMITTED CHRISTIAN MINISTRIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ECCM YEAR ENDING 31 DECEMBER 2023 I report on the accounts of the eharity for the y88r Énded 31 December 2023 which are set out on pats¢s Q to 18 RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER Th¥ ¢hartty'8 tru$tsÈs are responsible lor the preparation of the acunts. The charity's tru*eès eonslder that an audit is not required for this year under section 144121 ol the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It i8 my iesportsikn'lity lo". examine the awounts under section 145 of the 2011 Act, to follow the procedures laid down in the general Diiections given by the Charrty Commission lunder sedion 14515llbl of the 2011 Act, and to stale wheth&i parkncu5ar matters have come to rny attents'on. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination was cairied out in accordance wth gen8ral Diraetions given by the Charity Commission. An examination includes a review of the accounts'ng records kept by the ehaiity and a comparison of the accounts presented with those records. It also includès consideration ol any unusual items or disdo8ure5 in the accounts. and seeking expianations from you as the trustees concerning any such matters. The procédures undèrtaken do not wovide all the evidence that would be requirad in an audit, and con5equenUy no opinion is given as to whether the accounts present a'true and fair, view and thè report is limited lo those matters sèt out in the statement below INDEPENDENT EXAMINER'S STATEMENT I confirm that l am qualified to undèrtake the examination becaelarn a member of ACIE. In ¢¢nneth"on wth rny exarnination, no matter has come to my attention.. which gives me reasonable cause to bèliève that in. any material respect. the requirements.. lo kèep accounting records in accordance with section 130 of the 2011 Aet.. and to prepare ac¢ounl$ which accord with the accounting iecoids and comply with the accounting requirements of the 2011 Act have not been met., or 2. to which, in my oFinTron, attention should be drawn in order to enablè a proper understanding of the aecounts to bè reached Date.. 06, July 2024 Edwige Fomo CGMA Independent Examiner EFK & CO Consults'ng Ltd 132-134 Great An¢o8ts Manchestei England M4 6DE Page8
EMPOWERED COMMITTED CHRISTIAN MINISTRIES STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023 ECCM 2023 ECCM 2022 Note FIXED ASSETS Tangible fixed assets 37,881 37,881 11.761 11,761 URRENT ASSETS Debtors 8.000 102.611 110,511 9.190 113,115 122.305 Cash at bank and in hand CREDITORS.. Amounts falling due within one year 12 500 NET CURRENT ASSETS 109,911 121,805 TOTAL ASSETS LESS CURRENT LIABILITIES 147,792 133,566 CREDITORS.. Amounts falling due aftar more than one year 13 6,797 9,5B4 NET ASSETS 140,995 123,982 FUNDS OF THE CHARITY Rèstricted IncoTh Funds Unrestiicted Incon* Funds 148 14b 140,995 120.347 140,995 120.347 These financial statements were approved by thè trustees on 051h July 2024 and signed on their behalf by." W. J. Beah........ . Trusleo M. Essiet.... Trustee Page10
EMPOWERED COMMITTED CHRISTIAN MINISTRIES CASH FLOWS STATEMENT YEAR ENDING 31 DECEMBER 2023 2023 2022 Cash flows from operating activities Net cash spent 20.648 24.788 Adjustments to Cash from ftonvcash items Depreciation (Profit) on disposal of tsngible fixed assets 8.084 12,8001 25,932 3,634 28.422 Working capital adju5tment5 DecreaseJlincreas61 in stocks Deciea5ellinereasel in debtors IncreasellDecreasel in creditors 1,190 100 11.150) Net cash f5ow8 from operating activitiès 27,222 27.272 Cash flow5 from Investing activltles htere5t received from savings Purchase of tangible fixed Assets Net cash flows from Investing activitiès 135,0401 135,0401 Cash ftows from financlng aotlviti95 Addition of Loan during the period 12,7861 12.7901 Net cash flows from financing activitie8 12,7861 12,7901 Net Idecreasellincrease in cash and cash equwalent Cash and cash equiv&lents al 1 January 110,6041 113,115 24,482 88,633 Cash and cash equivalents al 31 December 102.511 113,115 Page11
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 ACCOUNTING POLICIES statement of Compliance The financial statements have been prèpared In accordance with FRS 102, °The Financial Reporting Standaid applicaUe in the UK and the Republic of Iiel2nd" the Ststement of Retrommen(led Piath"¢e applicable to charit'es preparing their accounts in 8¢cordance with the Financial reptsrting Standard applicaNe in the UK and Republic ol Ireland IFRS 1021 Ichaiities SORP IFRS 10211 and the Charil'es Act 2011. In¢on7ing Resources Donations & Leg&e$ DonatlOllS 8nd gifts are generally only recognised when receivsd by or on behalf of the charity. In eXptiona cases where an 8rn0unt is significant, gifts are recognised as income when the charity is nol'fied ol a commitment to Make a donation and the trustees ale virtually certain they will i&1Ve the re50ui¢es and the monetary value can be measured th sufficient reliability Incom8 tax Income tax recoverable on gift aid donallorB is Tecy)gnised on a receNaL4e basi8. Grants Granls to the charity ale aecounted for a5 soon as chaity is notified of ils legal entiuement and the amount due. Incom8 from charitabl8 activilS All incorne from events and activities is recognised when due. Incomo from fvnd generaling 8clivits Income raised by special fund raising events, and trading activitses are accounted lor in the peiiod in which the charity is entiled to reIPt. Resources EXnded Resource5 expended are induded in the Ststemenl of Finanrial Activities on an acciuals basis. Direct Charil8b18 ExpendKure Directly attributable expen(fiture has been allocatèd to the appropflatè fund. Where costs have been $hared the expènditure has been allocated lo funds on the basis of their e$ts"mated ¢onsumption c>f expenses. GoverTfrance These eosts include the costs of governance arrangements which relate lo the general running of the charity as opposed to the diiect managernenl functions inherent in genèrating funds and in chaiitatrAe activities. This includes such items as Independent examination, leg81 athice for trustses and costs associated Vvith conslilutional and statutory iequirernents, including trustee'5 meetings. Volunteers and donated services and faclllties The valuÉ ol services provided by volunteers is not incorporated into these financial stalgments. Fixed Assets Tangitlè fixed assets lor use by the charity 81e captalised il thèy can be used for more than one yeai, and Cost at least £500. They are valued at cost, or il gifted. al the Value to the Charity on receipt. Depreciation is calculated on the costs or valuation of th6 assets at the rale o125%12022." 25%) using the straight line method. Page12
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 1.ACCOUNTING POLICIES (Continued) Current Assets Arnounts Ovng to the charity at 310ember 2023 in respect of income are shown as debtors less piovision for amounts that may prove uncollectabl8. Fund5 Funds held by the charity are eithef.. Unreslricted g681 fvnds These are that can be used in accordance with the chaitsb18 objects at the discretion of the trustees. Restricted furKI8 These are fund8 that can only be used for parti¢ular restricted purposes WIthn the objects ol the charity. Restrictions arisè when speafied by the donor or when funds are iaised for particular restricted purposes. Further exp18nation of the nature and purpose of each fund is induded In the notes to the financial ststements. P8ge13
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 INCOMING RESOURCES Unre5tricled Restrided Totsl 2023 Total Funds FuThJs 2022 2a Donatlons and legacies OfferiThJs & Pledge donaboll5 Ttr0nksgwiryJ Tithe5 received ,947 20,947 7h60 8,388 10.805 55,990 19,684 24 13.1 10.821 46,1 Tax RefuThJ 10,8(5 55,990 2b OtherTradin9 In¥ Trading Sales TOTAL IficoNNG RESOURCES 55,990 55,9 46,1QJ Many volunteers give freely ol their b'mè in the setvice of our Lord for the charity, the value of which Is Unqvantifiae. 3.COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE Uniastrided Funds Restricted Total 2023 Total Funds 2022 35,342 35.342 36,342 .J5,342 21,312 21.312 C08ts ofDired Cvorilabk AdMts"es 4.COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE P£livfties Undertaken Dir8ctly Support Costs Total 2023 Total 2022 Costs ofGer*rallng VolLrt8ry irrne Costs cfFutyl GÈneratlrE Actiwbes Costs of Ctraritsble ActI1118S 4,200 3,600 24,046 31,846 344 4,544 3,862 28.946 35,342 1.705 252 1,492 2.0 3,496 18,116 21,312 P8ge14
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 5.COSTS OF CHARITABLE ACTIVITIES BY HEADINGS Unrestiiclèd Funds Restricted Total Total Funds 2023 2022 Pr?m1ses costs 25 2,629 600 2,414 Audit & Ac¢ounlartyfees Adrnirvslration insLrance costs 2,108 4.200 8,084 8,4 2.108 4,200 8.084 8,400 3,600 4.760 186 1.415 E%pnts Costs 245 Depreciation Costs Rert Costs 3.634 8,400 Pastor knance 3.600 IhBS Paid out Velickgs costs 4,7eO 520 298 SubcorlractorÈ 876 876 35,342 35.342 21.312 6.GOVERNANCE Uniestrlctèd Funds Total Total 2023 2022 Independent emIner lee 800 600 600 600 500 7.NET OUTGOING RESOURCES FOR THE YEAR Total Total Th1$ Is skted after charging 2023 2022 Independent examiner's fee Depreciation of owned assets 800 6,284 3,634 Page15
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 INFORMATION REGARDING TRUSTEES AND EMPLOYEES The charity trustees were not paid or raceived any other benefits from eioYMent vbilh the Trust in the year12023'. £nill neither were they reimbursed expenses during thè year12022." £nill. The key management personnel of the Trust. comprise the trust6es, and sènior managementteam. The total employèè benefits of thè sènior managament personnel of the Trustwère £nil12022." £nill. FIXED ASSETS 2023 Total Cost at 1 December 2023 18.170 37,839 12,8001 53,209 18.170 37,839 12,8001 53,209 Addrtions Disposals at 31 December 2023 Depreciation at 1 DeCeber 2023 Charge for year Di8POS81s at 31 Decewber 2023 10,044 8.084 12,8001 15,328 10,044 8.084 12,8001 15,328 Not Bookvalue at 31 Decemkr 2023 37,881 37,881 at 31 De¢ember 2022 8,126 8.126 10. DEBTORS 2023 2022 Accrued incom& 8.000 5,950 3,240 9.190 Other Debtors 8,000 11. CASH AT BANK & IN HAND 2023 20 Cuirént Account 102,511 102.511 113.115 113.115 Page16
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 12. CREDITORS: Amounts falling due wlthin one year 2023 2022 Aceruals and deferred incorne 800 s(x) 600 5(M) The bank loan and other loans, Creolt Cards & Overdrafts are secured by a fixed and floating charge over all the assets of the charity. 13. CREOITORS: Amounts falling due After one year 2023 2022 Bank k)ans 6.797 6.797 9,584 9,584 14. RELATED PARTY TRANSACTIONS During the year. the trust paid a total of £3.600 to pastor J seah as allowance12022'. £2,900) 15. RECONCILIATION OF MOVEMENTS IN FUNDS Transfer5 Balanee al 3leC-22 Movement in Resour¢es Outgoing Betw•en Balance at Incoming Funds 31-Dec-23 14a. R8Stricted Funds National Lottery Grant 14b. Unresfricted Funds General Fund 120.347 55,990 135,3421 140.995 Designated Fun 120,347 55,990 135.3421 140,995 16. ANALYSIS OF NET ASSETS BY FUND Tangible Fixed Net Current Creditors Assets I Due after Assets (Liabilltlesl One Year TOTAL Restrieted Funds Llnrestrlcted Funds 37,881 37,881 103,114 103,114 140,995 140,996 Page17
EMPOWERED COMMITTED CHRISTIAN MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 DECEMBER 2023 17. OPERATING LEASE COMMITMENTS Lands and Building Lease which ejpires within one year 8,400 8,400 18. CONTINGENCIES The Trustees have confirmèd that thère were no contingent Ilabilities which should be th.l0$ed on 31 De¢ember 2023. 19. GOING CONCERN Thé Trustèès consider thal there ar6 no material uneertainknes about the Tiusfs ability to continuè a$ a going concern. Page18