DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
**Charity Registration No. 1157662**
## **REIGN MINISTRIES**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2021**
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Ms B O'Brien Mr A Shoderu Dr A Stanhope Mr D Williams Ms C Heyward (Appointed 21 November 2020) **Charity number** 1157662 **Principal address** 43 London Road Bicester Oxon OX26 6BU **Independent examiner** Whitley Stimpson Limited Claremont House 1 Market Square Bicester Oxon OX26 6AA
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the accounts|6 - 15|
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **TRUSTEES REPORT** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The Trustees present their report and financial statements for the year ended 31 August 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity 's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
## **Objectives and activities**
To advance the Christian faith particularly but not exclusively amongst young people in Bicester and in such other parts of the United Kingdom or the words as the Trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Trust.
## **Achievements and performance**
Like most UK charities, the activities of this year were affected by the Covid-19 pandemic. In the 2020-2021 financial year we trained nearly 30 students in Theology, Mission and Youth Ministry. We have spent charity resources by coaching churches and lay volunteers to develop effective youth ministries through training courses and strategic church partnerships. The public has benefited in two ways this past year through the growth of the charity.
Firstly, we are now working with groups of teenagers in a wider range of communities across the UK, from each of the four nations. Our research indicates that, on a regular basis, we are in contact with approximately 3,000 young people. Secondly, by investing into a generation of young leaders we are also helping society to be more resilient and in a healthier place for the future as these leaders grow and expand their personal scope of influence.
## **Financial review**
The business aspect to the charity has grown over the past year because we have been able to recruit enough students into the various programmes to make them viable. We have been working on improving our fundraising ability, as we envisaged, through staffing and financial management controls. We are working and developing our internal systems and structures to help us maintain this growth going forward.
The position of the charity is healthy financially. Staff-wise we have added some new team roles which has positioned us to grow in our effectiveness and scope in the coming year. This effectiveness also will hopefully lead to a greater number of people we are training, which has a positive knock on effect to our financial stability.
It is the policy of the charity that designated funds should be maintained at a level equivalent to three month's operating costs. At the moment our reserves are being held in a separate bank account and the purpose is to meet our reserves policy and secondly to provide flexibility as the charity plans for expansion in the future.
The trustees met online throughout the year and were able to conduct all their usual business without impediment.
## **Structure, governance and management**
The charity was originally established in 2008 and became a Charitable Incorporated Organisation (CIO) from 1 July 2014.
The Trustees who served during the year and up to the date of signature of the financial statements were:
Mr D Wickens (Resigned 20 November 2021) Ms B O'Brien Mr A Shoderu Dr A Stanhope Mr D Williams Ms C Heyward (Appointed 21 November 2020)
- 1 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The board of trustees acts to promote the accomplishment of the ministry’s mission and prevent unacceptable activities and conditions within the ministry.
The board is made up of a Chairman, Vice Chairman, Secretary, Treasurer and Board Committees. The board members may serve for two successive three-year terms, after which he/she must take a one-year sabbatical before serving again. Background and criminal screening is carried out on all members before they serve.
They strive to have un-conflicting loyalty to the stakeholders, avoid conflict of interest with respect to their fiduciary responsibility, not attempt to exercise individual authority over the charity, respect confidentiality, prepare for and attend all meetings where possible, support all decisions made by the board as a group, avoid representing a particular personal or group interest and personally develop and evaluate the policies and their own skills.
So that the board are confident in controlling the charities performance, related training and outside monitoring may take place where necessary.
The Trustees r eport was approved by the Board of Trustees.
DocuSigned by: .............................. [DaviEC2E3519B61147F...Moville Williams **Mr D Williams** Trustee 18/5/2022 | 11:26 BST Dated: .........................
- 2 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REIGN MINISTRIES**
I report on the accounts of the charity for the year ended 31 August 2021, which are set out on pages 4 to 11 .
## **Respective responsibilities of Trustees and examiner**
The charity’s Trustees are responsible for the preparation of the financial statements. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- (i) examine the financial statements under section 145 of the 2011 Act;
- (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- (iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has no w been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In connection with my examination, no matter has come to my attention:
- (a) which gives me reasonable cause to believe that in any material respect the requirements:
- (i) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (ii) to prepare accounts which accord with the accounting records, and comply with the accounting requirements of the 2011 Act have not been met;
or
- (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
L Herbert - FCCA
Whitley Stimpson Limited Claremont House
1 Market Square Bicester Oxon OX26 6AA
20/5/2022 | 12:36 BST
Dated: .........................
- 3 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and
programme income
**2**
109,714
81,261
Investments
**3**
902
-
Other income
**4**
36,028
-
**Total income**
146,644
81,261
**Expenditure on:**
Ministry programmes
**5**
81,956
15,747
Administration and
governance
**6**
64,060
64,051
**Total resources**
**expended**
146,016
79,798
Gross transfers
between funds
-
-
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
628
1,463
Fund balances at 1
September 2020
505,363
114
**Fund balances at 31**
**August 2021**
505,991
1,577|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
**£**
**£**
190,975
189,797
49,851
902
1,298
-
36,028
5,311
-
227,905
196,406
49,851
97,703
127,349
2,825
128,111
94,281
43,894
225,814
221,630
46,719
-
3,018
(3,018)
2,091
(22,206)
114
505,477
527,569
-
507,568
505,363
114|Total
2020
**£**
239,648
1,298
5,311
246,257
130,174
138,175
268,349
-
(22,092)
527,569
505,477|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2021**_
||||**2021**|||**2020**||
|---|---|---|---|---|---|---|---|
||**Notes**|**£**|**£**||**£**|**£**|**£**|
|**Fixed assets**||||||||
|Tangible assets|**9**|||377,040|||374,638|
|**Current assets**||||||||
|Debtors|**10**|1,585|1,585|||1,150||
|Cash at bank and in hand||135,208|135,208|||137,205||
|||136,793|136,793|||138,355||
|**Creditors: amounts falling due within**||||||||
|**one year**|**11**|(6,265)||||(7,516)||
|Net current assets||||130,528|||130,839|
|**Total assets less current liabilities**||||507,568|||505,477|
|**Income funds**||||||||
|Restricted funds|**13**||||1,577||114|
|Unrestricted funds||||505,991|||505,363|
|||||507,568|||505,477|
|The financial statements were approved by the Trustees on .........................|The financial statements were approved by the Trustees on .........................|The financial statements were approved by the Trustees on .........................
18/5/2022 | 11:26 BST||The financial statements were approved by the Trustees on .........................
18/5/2022 | 11:26 BST|The financial statements were approved by the Trustees on .........................
18/5/2022 | 11:26 BST|||
The financial statements were approved by the Trustees on ......................... DocuSigned by: .............................. [DaviEC2E3519B61147F...Moville Williams Mr D Williams
**Trustee**
- 5 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
## **Company information**
Reign Ministries is a Charitable Incorporated Organisation (CIO).
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## **1.2 Going concern**
A key risk to the future continued going concern of the charity are the risks and uncertainties as to the impact of the Covid-19 outbreak in the UK. At the time of approving the financial statements, the Trustees have assessed the impact of Covid-19 and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from grants is recognised when there is entitlement and all conditions for receipt have been met.
- 6 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured net of depreciation .
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Not depreciated Fixtures, fittings & equipment 20% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
## **1.6 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less .
## **1.8 Government Grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
- 7 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **2 Donations and programme income**
||**Unrestricted**|**Restricted**|
**Total**|
**Total**|
|---|---|---|---|---|
||**funds**|**funds**|
**2021**|
**2020**|
||**£**|**£**|
**£**|
**£**|
|Degree income|36,538|-|
36,538|
80,777|
|Greenhouse/Internship Income|1,856|5,186|
7,042|
10,160|
|Moveolution income|868|-|
868|
23,846|
|Learning community|1,149|-|
1,149|
200|
|US Donors|27,655|64,878|
92,533|
113,431|
|Other revenue|30,012|-|
30,012|
10,609|
|Gift Aid reclaimed|1,748|-|
1,748|
625|
|Church partnership income|9,000|-|
9,000|
-|
|Resource income|888|11,197|
12,085|
-|
||109,714|81,261|
190,975|
239,648|
|For the year ended 31 August 2020|189,797|49,851||239,648|
|**Investments**|||||
||||**Unrestricted**|**Unrestricted**|
||||**funds**|
**funds**|
||||**2021**|
**2020**|
||||**£**|
**£**|
|Interest receivable|||902|
1,298|
|**Other income**|||||
||||**Unrestricted**|**Unrestricted**|
||||**funds**|
**funds**|
||||**2021**|
**2020**|
||||**£**|
**£**|
|Other income|||36,028|
5,311|
## **3 Investments**
## **4 Other income**
Other income represents Coronavirus Job Retention Scheme grants as disclosed in note 12 to the accounts.
- 8 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **5 Ministry programmes**
|**Unrestricted Restricted**
**funds**
**funds**
**£**
**£**
Costs of generating programme activity
Degree Expenses
36,262
-
Greenhouse/Internship Expenses
21,952
5,186
Moveolution Expenses
3,234
-
Learning Community Expenses
3,644
-
Church Partnership Expenses
16,864
Resource Expenses
-
10,561
Costs of generating programme activity
81,956
15,747|**Total**
**2021**
**£**
36,262
27,138
3,234
3,644
16,864
10,561
97,703|**Total**
**2020**
**£**
56,289
49,749
24,100
36
-
-
130,174|
|---|---|---|
- 9 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **6 Administration and governance**
|**Staff costs**
**Governance**
**costs**
**£**
**£**
Staff wages & salaries
100,961
-
Social security costs
4,399
-
Pension costs
4,552
Rates
-
2,338
Insurance
-
1,140
Light and heat
-
2,219
Repairs and maintenance
-
2,069
Office and computer expenses
-
1,133
Telephone and fax
-
892
Conference expenses
-
212
Logistics Trustee costs
-
-
Advertising
-
4,102
Travel and subsistence
-
473
Legal & Professional
-
363
Accountancy
-
780
Depreciation
-
770
Sundry expenses
-
492
Gain/loss on disposal of tangible
assets
-
192
HR & team expenses
955
Bank charges
-
-
109,911
18,130
**Analysis by fund**
Unrestricted funds
46,179
17,811
Restricted funds
63,732
319
109,911
18,130
**For the year ended 31 August 2020**
Unrestricted funds
70,561
23,643
Restricted funds
43,894
-
114,455
23,643|**Finance**
**costs**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
70
70
70
-
70
77
-
77|**Total**
**2021**
**£**
100,961
4,399
4,552
2,338
1,140
2,219
2,069
1,133
892
212
-
4,102
473
363
780
770
492
192
954
70
128,111
64,060
64,051
128,111|**Total**
**2020**
**£**
110,831
-
3,621
2,773
816
1,968
984
2,046
1,277
3,263
172
-
1,724
782
832
191
6,818
-
-
77
138,175
94,281
43,894
138,175|
|---|---|---|---|
Governance costs includes payments to the accountants of £780 (2020: £780) for accounts production and independent examination fees.
## **7 Trustees**
None of the trustees received any remuneration during the current or prior year.
During the year, no trustees received any reimbursement of expenses (2020: £n il).
- 10 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **8 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|Average number of employees
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2021**
**Number**
10
**2021**
**£**
166,283
4,399
4,552
175,233|**2020**
**Number**
8
**2020**
**£**
159,277
-
3,621
162,898|
|---|---|---|
None of the employees received employee benefits (excluding employer pension costs) more than £60,000 during the year.
One of the employees Sam Williams employed by the Charity in the year is the son of a trustee Dave Williams. During the year the employee received a net salary of £9,552.
The Trustees delegate the day-to-day management of the charity to the senior management personnel. During the year, £24,000 was paid to key management personnel for management services.
- 11 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**9**
**Tangible fixed assets**
**Land and**
**buildings**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
**Cost**
At 1 September 2020
373,875
2,482
Additions
-
3,363
Disposals
-
(700)
At 31 August 2021
373,875
5,145
**Depreciation and impairment**
At 1 September 2020
-
1,718
Depreciation charged in the year
-
770
Eliminated in respect of disposals
-
(508)
At 31 August 2021
-
1,980
**Carrying amount**
At 31 August 2021
373,875
3,165
At 31 August 2020
373,875
763
**10**
**Debtors**
**2021**
**Amounts falling due within one year:**
**£**
Trade debtors
918
Prepayments and accrued income
667
1,585
**11**
**Creditors: amounts falling due within one year**
**2021**
**Notes**
**£**
Deferred income
**12**
5,363
Other creditors
120
Accruals and deferred income
782
6,265|**Total**
**£**
376,357
3,363
(700)
379,020
1,718
770
(508)
1,980
377,040
374,638
**2020**
**£**
1,150
-
1,150
**2020**
**£**
-
6,738
778
7,516|
|---|---|
- 12 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **12 Grant income**
The charity has taken advantage of the following government grants that were made available by the UK Government response to the global Covid-19 pandemic. During the year the following amounts have been received and are recognised within other operating income.
Coronavirus Job Retention Scheme (CJRS): £36,028 (2020: £5,311)
- 13 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **13 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|---|
||**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**resources**|**expended**||**1 September**|**resources**|**expended**|**31 August**|
|||||**2020**|||**2021**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Resources||||||||
|Project|4,242|(1,110)|(3,018)|114|11,197|(10,561)|750|
|Staff||||||||
|Conference|-|-|-|-|1,146|(319)|827|
|Staff Support||||||||
|- Employee A|16,858|(16,858)|-|-|26,310|(26,310)|-|
|Staff Support||||||||
|- Employee B|16,858|(16,858)|-|-|26,310|(26,310)|-|
|Staff Support||||||||
|- Employee C|9,208|(9,208)|-|-|11,112|(11,112)|-|
|Staff Support||||||||
|- Employee D|1,715|(1,715)|-|-|5,186|(5,186)|-|
|Staff Support||||||||
|- Employee E|971|(971)|-|-|-|-|-|
||49,852|(46,720)|(3,018)|114|81,261|(79,798)|1,577|
The Resources Project is partially funded by donations and relates to the ongoing Charity project to develop saleable resources i.e. tools for sale to youth workers such as videos and printed materials. Transfers out of this fund in the 2020 year reflect the reimbursement of the unrestricted fund start up costs for this project which were incurred in advance of the specific fundraising.
The Staff Conference restricted fund has arisen where the Charity has received donations towards an annual staff retreat and associated HR and team costs. There is a carried forward balance on this fund as not all of the donations were spent in the 2021 year due to the impact of Covid-19.
The Staff Support restricted funds arise where employees are partially self supported i.e. where the Charity agrees a fixed salary paid out of unrestricted funds but the employees can also fundraise for specific donations to cover an excess over this agreed salary as part of their work for the Charity, All the donations are always paid out as additional salary to the staff members during the year and therefore there is never a carried forward balance on these funds. Any such payments are processed through the payroll with any tax and national insurance costs being paid as necessary.
- 14 -
DocuSign Envelope ID: 5309061A-A315-4347-B726-E5E006327803
## **REIGN MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**14**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**£**
**£**
Fund balances at 31
August 2021 are
represented by:
Tangible assets
377,040
-
Current assets/
(liabilities)
128,951
1,577
505,991
1,577|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2021**
**2020**
**2020**
**£**
**£**
**£**
377,040
374,638
-
130,528
130,725
114
507,568
505,363
114|**Total**
**2020**
**£**
374,638
130,839
505,477|
|---|---|---|
## **15 Related party transactions**
During the year total donations without conditions of £3,480 were received by the charity from related parties.
- 15 -