Charity number: 1172001
RIG NATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 6 |
| Independent Examiner's Report | 7 - 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 - 18 |
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Greg Black Dr Sharon Stone Emmanuel Bajomo Sylvester Tomi Arayomi Rachel Ruth Samuel Anthony John Shepherd
Charity registered number 1172001 Principal office 73 William Booth Road London SE20 8BX Chief executive officer Tomi Arayomi Chief operating officer Peter Kiss
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of the RIG NATION for the year 1 April 2024 to 31 March 2025.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Objectives
Rig Nation was incorporated as a charitable Incorporated Organization on 13 March 2017. Its charitable objects are:
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To advance the Christian faith in accordance with the doctrines as laid out by Christ in the Gospels
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To advance the Christian religion in particular but not exclusively on the internet by broadcasting Christian messages of an equipping, evangelistic and teaching nature, holding online prayer meetings through online and offline webinars; and by producing and or distributing literature on the basis of our Christian faith all with the aim to enlighten others about the Christian religion.
Activities
During the financial year commencing on 1st April 2024 and concluding on 1st April 2025, the organization experienced several significant developments that shaped its activities and operations.
The year began with momentum generated from the successful hosting of the “300 Conference,” which took place at our former premises in South London in 2024 end of February. This event marked a pivotal moment, serving as a launchpad for the new financial year’s initiatives and community engagement.
Little did we know that after 2 months just the start of the new financial year, we had to relocate the organization’s operations. The move was inevitable as the previous building was no longer available for use. While the relocation has brought many benefits, including improved facilities and central positioning, we acknowledge that it has also resulted in a decrease in attendance from some community members.
Despite the challenges of relocating, the move has enabled us to connect with the central London community while strengthening our internal foundation. This year, we focused on raising new leaders through consistent discipleship and fellowship, resulting in a growing and committed leadership team.
The new start in central London required us to acquire our own equipment, as we could no longer rely on using sound and instruments from other churches. In response, the church successfully raised funds to purchase a full set of equipment—including cameras, sound systems, and instruments—valued at £7,000. This investment now serves as a valuable and lasting asset for the church.
Recognizing that many church members faced financial challenges, we sought ways to empower them with knowledge and practical tools for long-term financial breakthrough. This, in turn, also supports the future financial health of the charity.
To address this, we launched training courses on property and land investment, inviting professionals to deliver inhouse sessions. Additionally, we introduced internal programs focused on skill development to help members grow personally and economically.
The new building has allowed us to launch a growing Kids Ministry, now serving over 15 children most Sundays. We see this as a vital step in raising the next generation.
We also introduced a weekly Wednesday Prayer Night, which has strengthened both the church community and individual prayer lives, marking a deeper spiritual foundation beyond Sunday services.
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
During this financial year, we felt the need for strategic shift in our financial approach—moving from reliance on partnerships to placing greater emphasis on tithes and individual donors. Which resulted in financial stability although we still recognize the need for more growth.
Financial
During the financial year, RIG Nation’s income was generated predominantly from donations of £271,078 (2024: £503,508). The supporter programme currently has circa 165 partners for RIG Nation, donating £30 per month.
The Trustees have established a prudent reserves policy of between three months and six months expenditure to be covered by free reserves. At 31 March 2024, the charity's unrestricted reserves, (not represented by fixed assets) stood at £96,339 (2024: £105,965) which covers 4 months (2024: 2 months) of Expenditure.
Operations
RIG Nation operated out of hired premises in south London until 2024 April when we had to relocate the organization’s operations to Central London. Throughout the year, volunteers and other department leaders received trainings both online and in person.
Trustees and Management
Throughout the financial year, the acting trustees were Dr Sharon Stone, Greg Black and Emmanuel Bajomo. Rachael Samuel and Anthony Shepherd were appointed as Trustees in December 2023 and Tomi Arayomi was appointed as a Trustee in December 2023.
RIG Nation’s CEO throughout the year was Tomi Arayomi. Peter Kiss and Andrea Kiss were appointed as new leaders in August 2023 November and formally became Executive Managers in December 2023.
Challenges and Risks
The key challenges and risks RIG Nation faced during the year came mostly from its rapid growth and the inherent uncertainties this produces.
The principal risks identified were:
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STRATEGIC RISK
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RIG Nation is a pioneering organization which brings with it inherent risks of stepping into new spaces.
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This risk is mitigated principally by taking appropriate guidance and advice and noting available market data.
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
● OPERATIONAL RISK
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Operational risks arise mainly from the pioneering aspect of the vision and being in the early stages of building a technical resource base.
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To manage this risk, RIG Nation has regular team meetings and draws upon the skills and experience within the team, as well as using certain outsourced technical services.
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FINANCIAL RISK
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As a charity relying on donations and goodwill, financial instability is always an ongoing risk.
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To manage this, RIG Nation has a fund-raising programme to introduce monthly partners and has built a partnership package to attract ongoing support.
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MANAGEMENT RISK
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Management risk arises from the challenge of retaining suitably experienced and qualified managers/directors that have the requisite vision and apostolic/prophetic gifting and call upon their lives at a level that is sustainable for the charity.
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To manage this risk, RIG Nation has a small management team and maintains a close relationship with other RIGs in the network which includes apostolic training/development programs for RIG leaders.
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LOCAL EMPOWERMENT RISK
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As new RIG bases become established around the world, and as new churches are planted, financial risk arises due to the potential loss of funding to RIG Nation as supporters tend to donate to their local RIG.
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To mitigate and manage this risk, RIG Nation is focusing on strengthening its UK supporter base.
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OUTSOURCING RISK
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As the international missions are increasingly outsourced to new RIG bases that become established in their own activities and legal status, risk arises due to intrinsic loss of control.
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To manage this risk effectively, all the bases have regular operational and cooperation meetings, along with funding due diligence even within the network of RIGs.
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HUMAN RESOURCES
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Rapid growth is very challenging for a small team, both in terms of workload and also the requirement to upskill and cope with changes within the team. The team comprises many who are spread out across international locations and a team of essential volunteers.
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To manage this risk, RIG Nation has regular team meetings and has introduced new leaders and training across the organisation.
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GOVERNANCE
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All of the above-mentioned risks add to the charity’s governance risk as it aims to keep abreast of current regulation and increased scrutiny as it becomes more significant as a charitable venture.
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To mitigate and manage this risk, RIG Nation has taken on professional advice to cover all aspects of charity governance and compliance.
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Management of the above risks are continually ongoing, and the steps taken to mitigate these risks are continually under review.
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Outlook
The priority for the Trustees in 2025-2026 will be to stabilise and strengthen the supporter base, both in the United Kingdom and in mainland Europe.
In the year ahead, we will be developing evangelism and community outreach and continuing in-person gatherings whilst maintaining the important online ministry.
Public Benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
RIG NATION is a registered charity, number 1172001, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 31 July 2025 and signed on their behalf by:
Dr Sharon Stone
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025
Independent Examiner's Report to the Trustees of RIG NATION ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Chartered Institute of Management Accountants UK, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Signed:
Dated: 31 July 2025
Kolade Andrew Alli ACMA
The ARK Financial Management Consultancy Ltd
10 Gatcombe Gardens West End Hampshire SO18 3NA
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities 3 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 289,800 289,800 300,209 300,209 (10,409) 107,595 (10,409) 97,186 |
Total funds 2025 £ 289,800 289,800 300,209 300,209 (10,409) 107,595 (10,409) 97,186 |
Total funds 2024 £ 530,734 530,734 533,580 533,580 (2,846) 110,441 (2,846) 107,595 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 18 form part of these financial statements.
BALANCE SHEET AS AT 31 MARCH 2025
| Fixed assets Note Tangible assets 6 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 8 Unrestricted funds 8 Total funds |
96,339 96,339 (1,500) |
2025 £ 2,347 2,347 94,839 97,186 97,186 97,186 - 97,186 97,186 |
105,965 105,965 (1,500) |
2024 £ 3,130 |
|---|---|---|---|---|
| 3,130 104,465 |
||||
| 107,595 | ||||
| 107,595 | ||||
| 107,595 | ||||
| - 107,595 |
||||
| 107,595 |
The financial statements were approved and authorised for issue by the Trustees on 31 July 2025 and signed on their behalf by:
Dr Sharon Stone
The notes on pages 11 to 18 form part of these financial statements.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
RIG NATION meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting policies (continued)
1.4 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Office equipment - 25%
1.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| 2. Income from donations and legacies | 2. Income from donations and legacies |
|---|---|
| Unrestricted funds Total Total General 2025 2024 £ £ £ 375 375 16,881 0 0 350 271,078 271,078 503,508 0 0 8,975 465 465 162 17,882 17,882 858 289,800 289,800 530,734 |
|
| Income from internet online presence |
|
| Income from Rig school courses | |
| Donations | |
| Book Sales | |
| Bank Interest | |
| Gift Aid tax reclaimed | |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. Expenditure on charitable activities
| 3. Expenditure on charitable activities | |||
|---|---|---|---|
| Unrestricted funds |
Total Total |
||
| General | 2025 2024 |
||
| £ | £ £ |
||
| Accountancy fees | 15,016 | 15,016 13,967 |
|
| Bank Fees | 418 | 418 2,844 |
|
| Consultancy fees | 288 | 288 288 |
|
| Depreciation of office equipment | 783 | 783 1,044 |
|
| Disciple Media Expenses | 7,916 | 7,916 14,820 |
|
| Fundraising, advertising and, marketing costs | 0 |
0 4,752 |
|
| Grants to ministries | 12,650 | 12,650 87,071 |
|
| Graphic Design | 8,299 | 8,299 12,677 |
|
| Guest Speaker Expenses | 8,810 | 8,810 10,835 |
|
| Independent Examination Fees | 1,500 | 1,500 1,500 |
|
| IT equipment, software and consumables | 31,804 | 31,804 76,380 |
|
| IT webservices & software subscription | 7,371 | 7,371 18,229 |
|
| Manse costs | 354 | 354 837 |
|
| Meeting venue and sound hire costs | 43,853 | 43,853 71,182 |
|
| Phone and data costs | 45 | 45 291 |
|
| Printing, Postage, and Stationery | 36 | 36 316 |
|
| Refreshments and Hospitality | 2,074 | 2,074 2,080 |
|
| Sundry expenses | 60 | 60 0 |
|
| Travel costs | 9,232 | 9,232 38,809 |
|
| Wages and salaries | 141,609 | 141,609 149,251 |
|
| Worship Ministry | 2,107 | 2,107 15,430 |
|
| Grants to Individuals | 0 | 0 7,700 |
|
| Insurance | 1,113 | 1,113 1,577 |
|
| Pension Costs | 4,871 | 4,871 1,700 |
|
| 300,209 | 300,209 533,580 |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 1,500 | 1,500 |
5. Trustees' remuneration and expenses
During the year ended 31[st] March 2024, trustee Tomi Arayomi received remuneration of £24,000 (2024: £24,000). In addition, expenses totaling £2,650 were also reimbursed to Tomi Arayomi, and this relates to work carried out on behalf of the charity.
6. Tangible fixed assets
| Cost or valuation At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Office equipment £ 18,135 18,135 15,005 783 15,788 2,347 3,130 |
|---|---|
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. Creditors: Amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,500 | 1,500 |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. Statement of funds
Statement of funds - current year
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 March | |||
| April 2024 | **Income ** | Expenditure | 2025 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Fund | 107,595 | 289,800 | (300,209) | 97,186 |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. Statement of funds (continued)
Statement of funds - prior year
| Balance at | ||||
|---|---|---|---|---|
| Balance at | 31 March | |||
| 1 April 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Fund | 110,441 | 530,734 | (533,580) | 107,595 |