**REGISTERED COMPANY NUMBER: 05724253 (England and Wales) REGISTERED CHARITY NUMBER: 1169902** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **FOR** **ACTS OF FAITH MINISTRIES LIMITED** Wright Connections Limited Bedford I-Lab Priory Business Park Stannard Way Bedford Bedfordshire MK44 3RZ **ACTS OF FAITH MINISTRIES LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**|6|to|7| |**Notes to the Financial Statements**|8|to|15| **ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects of the organisation as adopted on 5 February 2020 are for the benefit of the public to: Advance the Christian Faith in accordance with the statement of beliefs appearing in the schedule hereto in the county of Bedfordshire and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit. Relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said county and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit Promote and fulfil such other charitable purpose beneficial to the community in the said county and in such other parts of the United Kingdom of the world as the trustees may from may from time to time think fit. This includes - Holding regular worship services to promote public benefit of the Christian faith in the community - Holding women's and men's meetings including guidance on issues such as raising families and marriage - Holding young people's meetings and activities - Charity work- locally and internationally - Other mission work ## **Significant activities** The activities of the charity are as follows: - Sunday services - Leader's weekly prayer meetings - Tuesday Bible meeting - Ministering to people in their home - Charity work - School of prophets - Youth meetings - Wailing women meetings ## **Public benefit** The trustees have regard to the Charity Commission guidance on public benefit in section 4 of the Charities Act. ## **Volunteers** The charity relies on a significant number of volunteers for both administrative and pastoral support. The trustees are unable to quantify the monetary value of this support with any assured accuracy. Page 1 **ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The Australia mission which was a success considering it was new territory to reach out. - Souls were saved and people were delivered from different addictions. - Marriages were restored. - Young people were transformed. - People from different communities now regularly gather to assist each other, pray for each other etc. - Counselling was done with single parents and children raised from dysfunctional backgrounds. The mission was extended to the Northern Territory (Darwin) due to the need of helping some Aborigines people who are addicted to alcoholism & drugs, dysfunctional families etc. Registration of the ministry in Kenya has now been done in Kenya to continue the expansion of the charity objectives locally due to the high need of the communities. Pastors and a team are already set on the ground to continue affecting communities. Hope of a Child continues to impact different nations. Yolanda from Zimbabwe completed her studies and can now assist her mother and young siblings with finances especially school fees. Eddie from Burundi will be graduating in 2024 as an Architect. Community day has proved to be a success as we have people from different backgrounds and challenges attend. Testimonials of people who have like addiction, alcoholism, drugs etc. The charity is still looking to lease or purchase a building. This will help avoiding change of venue time and gain which has been impacting attendance of church and activities. Different groups meet at the Studio which limits attendance due to its size. ## **FINANCIAL REVIEW** ## **Financial position** Total reserves at 31 August 2023 amounted to £89,258 (2022: £111,132) of which £55,115 (2022: £80,934) were unrestricted. During the year the charity spent a total of £16,420 (including air fares) on a mission to Australia. £2,017 of donations were received to set against these costs meaning £14,403 was spent from unrestricted reserves. ## **Principal funding sources** Monies come by way of donations from individuals from both within and outside of the UK including those who worship at the church. ## **Reserves policy** The charity intends to increase unrestricted funds which are the reserves of the charity at about three months of unrestricted expenditure in case of any emergency expenditures that may rise from time to time. The aftereffects of Covid 19 have continued to be felt with Church attendance Numbers still low, people losing jobs, companies closing etc which resulted not only in declining of church members but also offerings locally. However we remain committed to work to achieve the organisation's agreed aims and objectives. We have been able to maintain a healthy level of liquid funds which will allow the organisation to operate comfortably for the foreseeable future. ## **FUTURE PLANS** The charity is still looking to purchase or lease a building. Funds continue to be raised for this project. There is planning to maximise using the Studio for the different groups especially young people who are being mentored, counselled and develop in different aspects such as learning to play instruments, career guidance, young leadership training etc. The charity will continue impacting the community by helping with food, transport, Translation etc ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 2 **ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Recruitment and appointment of new trustees** Trustees are appointed from the worshipping congregation in accordance with the Articles of Association. ## **Organisational structure** The trustees meet on a regular basis to consider all aspects of the charities activities. The trustees delegate the operational issues to the leadership team. The leadership team is made up of the trustees together with the Abel Kungu the Religious Minister, Harold Curson, Daphne Curson and Claver Lukombo. Deacons have been appointed to oversee the welfare and pastoral needs of church members. They are supported in their roles by Elders. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The charity has assessed all the major risks it is exposed to particularly those related to operations and finances. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 05724253 (England and Wales) ## **Registered Charity number** 1169902 ## **Registered office** 38 Keysoe Road Bedford MK44 2DZ ## **Trustees** K Chahal G Madziva M Chohan ## **Company Secretary** G Madziva ## **Independent Examiner** Wright Connections Limited Bedford I-Lab Priory Business Park Stannard Way Bedford Bedfordshire MK44 3RZ This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 22 May 2024 and signed on its behalf by: G Madziva - Trustee Page 3 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACTS OF FAITH MINISTRIES LIMITED** ## **Independent examiner's report to the trustees of Acts of Faith Ministries Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company 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 accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts 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 accounts to be reached. Suzanne Goodson BSc FCA Wright Connections Limited Bedford I-Lab Priory Business Park Stannard Way Bedford Bedfordshire MK44 3RZ 24 May 2024 Page 4 ## **ACTS OF FAITH MINISTRIES LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023** |**31.8.23**
Unrestricted
Restricted
**Total**
fund
funds
**funds**
Notes
£
£
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**40,198**
**4,921**
**45,119**
**Charitable activities**
4
Advancement of Christian Religion
**525**
**2,877**
**3,402**
Investment income
3
**-**
**158**
**158**
**Total**
**40,723**
**7,956**
**48,679**
**EXPENDITURE ON**
**Charitable activities**
5
Advancement of Christian Religion
**66,542**
**4,011**
**70,553**
**NET INCOME/(EXPENDITURE)**
**(25,819)**
**3,945**
**(21,874)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**80,934**
**30,198**
**111,132**
**TOTAL FUNDS CARRIED FORWARD**
**55,115**
**34,143**
**89,258**|31.8.22
Total
funds
£
71,170
3,183
14| |---|---| ||74,367| ||46,937| ||27,430
83,702| ||111,132| The notes form part of these financial statements Page 5 ## **ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)** ## **BALANCE SHEET 31 AUGUST 2023** |Unrestricted
Restricted
fund
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
13
**10,582**
**-**
**CURRENT ASSETS**
Debtors
14
**1,920**
**-**
Cash at bank
**53,573**
**34,143**
**55,493**
**34,143**
**CREDITORS**
Amounts falling due within one year
15
**(10,960)**
**-**
**NET CURRENT ASSETS**
**44,533**
**34,143**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**55,115**
**34,143**
**NET ASSETS**
**55,115**
**34,143**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**31.8.23**
**Total**
**funds**
**£**
**10,582**
**1,920**
**87,716**
**89,636**
**(10,960)**
**78,676**
**89,258**
**89,258**
**55,115**
**34,143**
**89,258**|31.8.22
Total
funds
£
13,881
10,451
100,105
110,556
(13,305)
97,251
111,132
111,132
80,934
30,198
111,132| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 6 continued... ## **ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)** ## **BALANCE SHEET - continued 31 AUGUST 2023** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 22 May 2024 and were signed on its behalf by: G Madziva - Trustee M Chohan - Trustee The notes form part of these financial statements Page 7 **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. ## **General information** The charity is a private limited company (incorporated in England and Wales), limited by guarantee, as defined by the Companies Act 2006. The charity's operations are controlled from, and its records and accounts maintained in, its registered office 38 Keysoe Road, Bedford. The charity holds occasional mid week meetings and Sunday worship in the Harpur Suite in Bedford town centre. It also holds meetings, including those via the internet, in a studio at 1A Hammond Road Bedford. The nature of the charity's operations and principal activities are described in the Report of the Trustees. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery - 20% on cost Assets are capitalised where it is expected that their useful life is in excess of 12 months and their cost is in excess of £500. Gross cost is measured at initial cost. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 8 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Foreign currencies** Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. ## **Donated goods and services** Donated goods services are recognised in income at their fair value only when their economic benefit is probable, it can be measured reliably and the charity has control over the item. ## **Debtors and creditors receivable/payable within 1 year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **Judgements** No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies. ## **2. DONATIONS AND LEGACIES** |**2.**|**DONATIONS AND LEGACIES**|||| |---|---|---|---|---| ||||**31.8.23**|31.8.22| ||||**£**|£| ||Donations||**45,119**|71,170| |**3.**|**INVESTMENT INCOME**|||| ||||**31.8.23**|31.8.22| ||||**£**|£| ||Bank interest received||**158**|14| |**4.**|**INCOME FROM CHARITABLE**|**ACTIVITIES**||| ||||**31.8.23**|31.8.22| |||Activity|**£**|£| ||Bible school|Advancement of Christian Religion|**525**|1,713| ||Donations restricted|Advancement of Christian Religion|**2,877**|1,470| ||||**3,402**|3,183| Page 9 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **5. CHARITABLE ACTIVITIES COSTS** ## **6.** |Advancement of Christian Religion
**GRANTS PAYABLE**
Advancement of Christian Religion
All grants were payable to individuals.|Support
Direct
costs (see
Costs
note 7)
Totals
£
£
£
**68,993**
**1,560**
**70,553**
**31.8.23**
31.8.22
**£**
£
**-**
725|Totals
£
**70,553**|Totals
£
**70,553**| |---|---|---|---| ||||| ## **7. SUPPORT COSTS** |**SUPPORT COSTS**||| |---|---|---| |||Governance| |||costs| |||£| |Advancement of Christian Religion||**1,560**| |**NET INCOME/(EXPENDITURE)**||| |Net income/(expenditure) is stated after charging/(crediting):||| ||**31.8.23**|31.8.22| ||**£**|£| |Independent Examiners' Remuneration|**720**|720| |Independent Examiner - other services|**840**|720| |Depreciation - owned assets|**3,998**|3,858| ## **8. NET INCOME/(EXPENDITURE)** ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **Trustees' expenses** All trustees are paid travel expenses and one is reimbursed for telephone costs incurred on behalf of the charity. Other members of the leadership team are also reimbursed for expenses incurred on behalf of the charity. See Note 12 regarding flights to Australia in respect of Gonai Madziva and her family. Page 10 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **10. STAFF COSTS** |**STAFF COSTS**||| |---|---|---| ||**31.8.23**|31.8.22| ||**£**|£| |Wages and salaries|**23,710**|16,500| ||**23,710**|16,500| Abel Kungu, the Religious Minister, is married to Gonai Madziva who is a trustee. He is considered to be key management. The average monthly number of employees during the year was as follows: ## **11.** |||**31.8.23**|31.8.22| |---|---|---|---| |Religious Minister||**1**|1| |No employees received emoluments in excess of £60,000.|||| |**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**ACTIVITIES**||| ||Unrestricted|Restricted|Total| ||fund|funds|funds| ||£|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies|61,874|9,296|71,170| |**Charitable activities**|||| |Advancement of Christian Religion|1,713|1,470|3,183| |Investment income|-|14|14| |**Total**|63,587|10,780|74,367| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Advancement of Christian Religion|41,351|5,586|46,937| |**NET INCOME**|22,236|5,194|27,430| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward|58,698|25,004|83,702| |**TOTAL FUNDS CARRIED FORWARD**|80,934|30,198|111,132| Page 11 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **12. MISSION WORK** During the year the charity organised a mission trip to Australia which included a conference in Melbourne. All those who went on the trip were responsible for their own costs including flights and accommodation except for the Religious Minister, Abel Kungu, who is married to a trustee, Gonai Madziva. The flight cost for him and his immediate family was £8,380. No other costs were reimbursed to him or his family whilst on the trip which included flights paid by them to Darwin. They were given the use of a house and car for the duration of their stay from an individual. Other costs of the conference amounted to £8,040. Donations of £2,017 were received to cover some of these costs. Abel Kungu also went to Belgium during the year. The charity paid costs of £389 in order to register as a society in Kenya. ## **13. TANGIBLE FIXED ASSETS** |**13.**|**TANGIBLE FIXED ASSETS**|||| |---|---|---|---|---| |||Plant and|Computer|| |||machinery|equipment|Totals| |||£|£|£| ||**COST**|||| ||At 1 September 2022|**17,483**|**1,807**|**19,290**| ||Additions|**-**|**699**|**699**| ||At 31 August 2023|**17,483**|**2,506**|**19,989**| ||**DEPRECIATION**|||| ||At 1 September 2022|**4,928**|**481**|**5,409**| ||Charge for year|**3,497**|**501**|**3,998**| ||At 31 August 2023|**8,425**|**982**|**9,407**| ||**NET BOOK VALUE**|||| ||At 31 August 2023|**9,058**|**1,524**|**10,582**| ||At 31 August 2022|12,555|1,326|13,881| |**14.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||**31.8.23**|31.8.22| ||||**£**|£| ||Other debtors||**316**|316| ||Redonno||**-**|9,438| ||Stripe||**407**|-| ||Prepayments||**1,197**|697| ||||**1,920**|10,451| Page 12 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||**31.8.23**|31.8.22| |---|---|---| ||**£**|£| |Social security and other taxes|**1,778**|4,150| |Wages control account|**1,337**|3,648| |Accrued expenses|**7,845**|5,507| ||**10,960**|13,305| ## **16. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Hope of a Child Foundation
Building Fund
Donations for others
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Hope of a Child Foundation
Building Fund
Donations for others
World Mission
**TOTAL FUNDS**|At 1.9.22
£
**80,934**
**7,535**
**21,918**
**745**
**30,198**
**111,132**
Incoming
resources
£
**40,723**
**3,613**
**1,466**
**860**
**2,017**
**7,956**
**48,679**|Net
movement
At
in funds
31.8.23
£
£
**(25,819)**
**55,115**
**2,669**
**10,204**
**1,466**
**23,384**
**(190)**
**555**
**3,945**
**34,143**
**(21,874)**
**89,258**
Resources
Movement
expended
in funds
£
£
**(66,542)**
**(25,819)**
**(944)**
**2,669**
**-**
**1,466**
**(1,050)**
**(190)**
**(2,017)**
**-**
**(4,011)**
**3,945**
**(70,553)**
**(21,874)**|At
31.8.23
£
**55,115**
**10,204**
**23,384**
**555**|At
31.8.23
£
**55,115**
**10,204**
**23,384**
**555**| |---|---|---|---|---| ||||**34,143**|| ||||**89,258**|| |||||**3,945**| |||||**(21,874)**| Page 13 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **16. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |||Net|| |---|---|---|---| |||movement|At| ||At 1.9.21|in funds|31.8.22| ||£|£|£| |**Unrestricted funds**|||| |General fund|58,698|22,236|80,934| |**Restricted funds**|||| |Hope of a Child Foundation|5,244|2,291|7,535| |Building Fund|19,760|2,158|21,918| |Donations for others|-|745|745| ||25,004|5,194|30,198| |**TOTAL FUNDS**|83,702|27,430|111,132| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|63,587|(41,351)|22,236| |**Restricted funds**|||| |Hope of a Child Foundation|4,872|(2,581)|2,291| |Building Fund|4,438|(2,280)|2,158| |Donations for others|1,470|(725)|745| ||10,780|(5,586)|5,194| |**TOTAL FUNDS**|74,367|(46,937)|27,430| The Building Fund exists to raise money specifically for the purpose of purchasing a building from which the charity can operate. This would include regular worship and prayer meetings. Hope of a Child fund was set up to enable child sponsorship to provide support for education, food and clothing to needy children including those orphaned and living with HIV. The support extended to Africa and Eastern Europe. Donations for others is a fund set up in response to specific appeals to give financial support to individuals in crisis throughout the world. The World Mission Fund was set up to enable donors the opportunity to contribute towards the costs of specific missions that the charity may carry out. Page 14 continued... **ACTS OF FAITH MINISTRIES LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023** ## **17. RELATED PARTY DISCLOSURES** Three trustees gave a total of £2,745 (2022: £4,000) in donations. See note 12 for details of transactions relating to the Australian mission trip. ## **18. FUNDS RECEIVED AS AGENT** During the year the charity paid as agent £500 (2022: £1,679) to Abel Kungu which had been received as "love offerings" from individuals and institutions abroad. Page 15