Restoration Youth Ministry
Charity No. 1163267
Trustees' Report and Unaudited Accounts
31 July 2024
Restoration Youth Ministry Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 1 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Statement of Cash flows | 8 | |
| Notes to the Accounts | 9 to | 11 |
| Detailed Statement of Financial Activities | 12 to | 13 |
Page 1
Restoration Youth Ministry Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 July 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1163267
Registered Office
40 handcross road Luton Bedfordshire LU2 8JF
Trustees
The following Trustees served during the year
Isaac Ofori Sandra Ofori
Accountants
360 Accounting Services Ltd 27 Old Gloucester Street London WC1N 3AX
OBJECTIVES AND ACTIVITIES
The purpose of the charity is to advance the christian religion worldwide in general and in North London area in particular for the benefit of the public through the holding of prayer meetings, lectures, seminars, christian festivals, producing and distributing christian literature to enlighten the populace about the christian religion.
ACHIEVEMENTS AND PERFORMANCE
To advance the christian religion worldwide in general and in North London area in particular for the benefit of the public through the holding of prayer meetings, lectures, seminars, christian festivals, producing and distributing christian literature to enlighten the populace about the christian religion.
FINANCIAL REVIEW
The largest contribution to the charity for the year came from general offerings.
PLANS FOR FUTURE PERIODS
The Charity plans to develop various fundraising strategy to include mass marketing. Besides mass marketing and events, the charity is aiming to achieve its targets through securing donations from willing individuals.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Page 2
Restoration Youth Ministry Trustees Annual Report
The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity. Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship.
The methods adopted for the recruitment and appointment of new trustees - New trustees may be appointed by resolution of a meeting of the trustees.
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 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.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
Sandra Ofori Trustee 11 February 2025
Page 3
Restoration Youth Ministry Independent Examiners Report
Independent Examiner's Report to the trustees of Restoration Youth Ministry
I report to the charity trustees on my examination of the financial statements of Restoration Youth Ministry for the year ended 31 July 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 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:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act 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; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
360 Accounting Services Ltd 27 Old Gloucester Street
London WC1N 3AX 11 February 2025
Page 4
Restoration Youth Ministry Statement of Financial Activities
for the year ended 31 July 2024
| Notes Income and endowments from: Donations and legacies 2 Total Expenditure on: Raising funds 3 Charitable activities 4 Other 5 Total Net gains on investments Net expenditure Transfers between funds Net expenditure 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 2024 £ 43,663 |
Total funds 2024 £ 43,663 |
Total funds 2023 £ 60,891 |
|---|---|---|---|
| 43,663 13,206 15,828 15,072 |
43,663 13,206 15,828 15,072 |
60,891 14,553 27,826 41,375 |
|
| 44,106 - |
44,106 - |
83,754 - |
|
| (443) - |
(443) - |
(22,863) - |
|
| (443) | (443) | (22,863) | |
| (443) 830 |
(443) 830 |
(22,863) 23,694 |
|
| 387 | 387 | 831 |
Page 5
Restoration Youth Ministry Summary Income and Expenditure Account
for the year ended 31 July 2024
| Income Gross income for the year Expenditure Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2024 £ 43,663 43,663 44,106 44,106 (443) (443) |
2023 £ 60,891 |
|---|---|---|
| 60,891 | ||
| 83,754 | ||
| 83,754 | ||
| (22,863) | ||
| (22,863) |
Page 6
Restoration Youth Ministry Balance Sheet
at 31 July 2024
| at 31 July 2024 | |
|---|---|
| Notes 2024 £ Current assets Cash at bank and in hand 387 387 Creditors:Amount falling due within one year - Net current assets 387 Total assets less current liabilities 387 Net assets excluding pension asset or liability 387 Total net assets 387 The funds of the charity Restricted funds 6 Unrestricted funds 6 General funds 387 387 Reserves 6 Total funds 387 |
2023 £ 830 |
| 830 1 |
|
| 831 831 |
|
| 831 | |
| 831 | |
| 830 | |
| 830 | |
| 830 |
These financial statements were approved by the trustees and authorised for issue.
Approved by the Trustees on 11 February 2025
And signed on its behalf by:
Sandra Ofori Trustee
11 February 2025
Page 7
Restoration Youth Ministry Statement of Cash flows for the year ended 31 July 2024
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Decrease in trade and other receivables Decrease in trade and other payables Net cash (used in)/provided by operating activities Net cash from investing activities Net cash from financing activities Net (decrease)/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 Components of cash and cash equivalents Cash and bank balances |
2024 £ (443) - - (443) - - (443) 830 387 387 387 |
2023 £ (22,863) 25,275 (2,100) |
|---|---|---|
| 312 | ||
| - | ||
| - | ||
| 312 | ||
| 518 | ||
| 830 | ||
| 830 | ||
| 830 |
Page 8
Restoration Youth Ministry Notes to the Accounts
for the year ended 31 July 2024
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
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 9
Restoration Youth Ministry 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.
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.
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.
2 Income from donations and legacies
| Income from donations and legacies | |||
|---|---|---|---|
| Donations received from tithes and offerings Gift Aid |
Unrestricted £ 33,875 9,788 43,663 |
Total 2024 £ 33,875 9,788 43,663 |
Total 2023 £ 43,861 17,030 |
| 60,891 |
Page 10
Restoration Youth Ministry Notes to the Accounts
3 Expenditure on raising funds
| Costs of generating voluntary income Costs of generating donations 4 Expenditure on charitable activities Expenditure on charitable activities 5 Other expenditure Ministry support Motor and travel costs Premises costs General administrative costs Legal and professional costs 6 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds |
Unrestricted £ 13,206 13,206 Unrestricted £ 15,828 15,828 Unrestricted £ - 1,332 5,200 3,802 4,738 15,072 Incoming resources (including other gains/losses ) £ 43,663 43,663 |
Total 2024 £ 13,206 13,206 Total 2024 £ 15,828 15,828 Total 2024 £ - 1,332 5,200 3,802 4,738 15,072 Resources expended £ (44,106) (44,106) |
Total 2023 £ 14,553 |
|---|---|---|---|
| 14,553 | |||
| Total 2023 £ 27,826 |
|||
| 27,826 | |||
| Total 2023 £ 23,175 4,636 4,938 7,666 960 |
|||
| 41,375 | |||
| At 31 July 2024 £ 387 |
|||
| 387 |
Page 11
Restoration Youth Ministry Detailed Statement of Financial Activities
for the year ended 31 July 2024
| Income and endowments from: Donations and legacies Donations received from tithes and offerings Gift Aid Total income and endowments Expenditure on: Costs of generating donations and legacies Costs of generating donations Total of expenditure on raising funds Charitable activities Total of expenditure on charitable activities Other expenditure Motor and travel costs Travel and subsistence Premises costs Rent Premises repairs and maintenance General administrative costs, including depreciation and amortisation Bank charges General insurances Postage and couriers Software, IT support and related costs Subscriptions |
Unrestricted funds 2024 £ 33,875 9,788 43,663 43,663 13,206 13,206 13,206 15,828 15,828 15,828 - - 1,332 1,332 5,200 - 5,200 9 948 265 201 65 |
Total funds 2024 £ 33,875 9,788 43,663 43,663 13,206 13,206 13,206 15,828 15,828 15,828 - - 1,332 1,332 5,200 - 5,200 9 948 265 201 65 |
Total funds 2023 £ 43,861 17,030 |
|---|---|---|---|
| 60,891 | |||
| 60,891 14,553 |
|||
| 14,553 | |||
| 14,553 27,826 |
|||
| 27,826 | |||
| 27,826 23,175 |
|||
| 23,175 | |||
| 4,636 | |||
| 4,636 | |||
| 4,900 38 |
|||
| 4,938 | |||
| - 1,762 40 3,250 - |
Page 12
Restoration Youth Ministry Detailed Statement of Financial Activities
| Restoration Youth Ministry Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
1,621 693 3,802 1,360 3,378 4,738 15,072 44,106 - (443) (443) - (443) 830 387 |
1,621 693 3,802 1,360 3,378 4,738 15,072 44,106 - (443) (443) - (443) 830 387 |
2,110 504 |
| 7,666 | |||
| 960 - |
|||
| 960 | |||
| 41,375 | |||
| 83,754 - |
|||
| (22,863) | |||
| (22,863) - |
|||
| (22,863) | |||
| 23,694 | |||
| 831 |
Page 13