2022-05-31-accounts

Trustees Annual Report and Accounts For the period 1[st] June 2021 to 31st May 2022

Contents

Report of the Trustees 1 to 3 Independent Examiner's Report 4 Receipts and Payments 5 Statement of Assets and Liabilities 6 Notes to the Accounts 7

Registered Charity Number: 1186832

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] May 2022

The trustees present their report and accounts for the year ended 31st May 2022. The trustees have opted, under section 133 of the Charities Act 2011 (‘the Charities Act’), to prepare receipts and payments accounts

Objectives and Aims

1. To advance the Christian faith in such parts of the United Kingdom or the world 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 charity.

2. The prevention or relief of poverty in such parts of the world as the Trustees may from time to time think fit by providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.

Summary of main activities

Public benefit

The trustees have read and given due regard to the guidance issued by the Charity Commission on public benefit.

Charitable activities

Project Exodus

Through Project Exodus the charity has been able to provide freedom from slavery for nine Christian families in Pakistan. These families have not only been given freedom, but have also been assisted in gaining a home, earning an income, and becoming part of the community. Upon release, the families have been provided with the resources to earn a sustainable income immediately. Through the Project Exodus follow-up programme the rescued families have been able to integrate themselves into local churches and communities.

Hope for the Nation School

We have continued our “Hope for the Nation School” in the Thar desert in the Sindh Province of Pakistan. It is a school for the marginalised and persecuted Hindu Community there. The Hope for the Nation School provides a good education to 130 Hindu children, whilst raising awareness in the local community of the importance of education. This year, one of our missionary couples has moved to the Thar desert to serve full-time by running and teaching at the school. Additionally, help has been provided to purchase property for the school.

Registered Charity Number: 1186832

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CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] May 2022

Pastors Support Program

The Charity has been able to provide regular financial support to 12 Pastors in Pakistan who are living in rural and challenging conditions. In helping the pastors to meet their needs they are able to reach the unreached with the good news and gospel, advancing the Christian faith in harsh and difficult areas.

The Pastor Support Programme provided special assistance during the very harsh economic crisis in Pakistan, and provided muchneeded help to 153 additional Pastors and Christian workers, along with their families.

One-time financial help was also provided to Pastors in India and the Philippines.

Scholarships for Students

We provided scholarships to 12 Bible-college students. Two student nurses were provided with much-needed scholarships, enabling them to study and provide care for communities in one of the harshest, remote desert regions of Pakistan.

Food Parcels

Food parcels were provided to poor and persecuted Christians during the Christmas period, ensuring they had enough to eat and allowing them to share in the joy of Christmas. These food parcels targeted some of the most remote areas of Pakistan, especially focussing on the Thar desert. A total of 890 food parcels were delivered during the Christmas season.

Financial review

There was a deficit in the year of £1,646 (PY: Surplus £7,524) Donations increased to £142,481 (PY: £130,906) whilst expenditure increased to £144,127 (PY: £123,382)

Unrestricted cash reserves held at the year-end amounted to £5,878 (PY: £7,524)

Reserves policy

The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be approximately three months of the resources expended. At this level the trustees feel that they would be able to continue the current activities of the Charity in the event of a significant drop in income.

Registered Charity Number: 1186832

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CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] May 2022

Structure, Governance and Management

Governing document

Rhea Ministries is a Charitable Incorporated Organisation commencing 9[th] December 2019.

New trustees are elected by the existing trustees to the board after nomination and interview.

Financial reports are presented to the board at each meeting. Minutes of each meeting are taken and subsequently distributed.

Reference and Administration Details

Registered name: Rhea Ministries

Registered Charity number: 1186832

Principal address

2 Coronation Street, Barnstaple, Devon, EX2 7AY

Trustees

Name Position Appointments/Resignations Zahid Kenny Chair Bridget Marie Always Trustee Philip Anthony Buckman Trustee

Independent Examiner

Magnus Proctor FFA

Lindisfarne Landkey Road Barnstaple EX32 9BW

Approved by the board of trustees on 5[th] February 2023 and signed on its behalf by:

Zahid Kenny Chair

Registered Charity Number: 1186832

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Independent examiner's report to the trustees of Rhea Ministries

I report to the charity trustees on my examination of the accounts of Rhea Ministries for the year ended 31[st] May 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Signed:

Magnus Proctor FFA

Fellow of the Institute of Financial Accountants Lindisfarne Landkey Road Barnstaple EX32 9BW

Date: 5[th] February 2023

Registered Charity Number: 1186832

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RECEIPTS AND PAYMENTS

for the year ended 31[st] May 2022

for the year ended 31stMay 2022
	Unrestricted funds (£) Restricted funds (£) 2022 Total (£) 2021 Total (£)
Receipts Gifts and donations Gift aid received Other Total receipts Payments Grant funding to Pakistan Grant funding elsewhere Sundry office costs Website/Design Accountancy costs Travel Professional services UK Administration Total payments Net receipts / (payments) Reconciliation of funds: Transfer between funds Total Funds brought forward Total Funds carried forward	44,505 97,976 142,481 130,457 0 0 0 0 0 0 0 449
	44,505 97,976 142,481 130,906 42,313 74,741 117,054 97,119 0 2,855 2,855 2,150 1,654 0 1,654 3,767 1,429 0 1,429 1,515 600 0 600 200 155 0 155 131 0 0 0 500 0 20,380 20,380 18,000
	46,151 97,976 144,127 123,382
	(1,646) 0 (1,646) 7,524 0 0 0 0 7,524 0 7,524 0
	5,878 0 5,878 7,524

Registered Charity Number: 1186832

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STATEMENT OF ASSETS AND LIABILITIES

As at 31[st] May 2022

As at 31stMay 2022
	Unrestricted funds (£) Restricted funds (£) 2022 Total (£) 2021 Total (£)
Fixed Assets Current Assets Debtors Cash at bank Current Liabilities Creditors Total Assets less Liabilities	0 0 0 0 0 0 0 0 5,878 0 5,878 7,524 0 0 0 0
	5,878 0 5,878 7,524

The financial statements were approved by the Board of Trustees on 5th February 2023 and were signed on its behalf by:

Zahid Kenny Chair

Registered Charity Number: 1186832

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Notes to the Accounts

Accounting Policies

Basis of preparing the financial statements and assessment of going concern

These accounts have been prepared on a receipts and payments basis as permitted by law for smaller charities.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Movement in Funds

£	Balance	Income	Expenditure	Transfers	Balance
	1st June 2021				31stMay 2022
General Fund	7,524	44,505	(48,151)	0	5,878
Restricted Funds:
Pakistan Support	0	0	0	0	0
Pastor/Christian	0	38,180	38,180	0	0
workers Support
Building Funds	0	9500	9500	0	0
Project Exodus	0	23,605	(23,605)	0	0
UK Administration	0	20,380	(20,380)	0	0
Sundry Other	0	6,311	(6,311)	0	0
Total Funds	7,524	142,481	(144,127)	0	5,878

Movement in Funds

£	Balance	Income	Expenditure	Transfers	Balance
	**9th Dec 2019 **				31stMay 2021
General Fund	0	26,269	(18,745)	0	7,524
Restricted Funds:
Pakistan Support	0	27,500	(27,500)	0	0
Pastor Support	0	18,255	(18,255)	0	0
Food Parcels	0	3,187	(3,187)	0	0
Project Exodus	0	23,105	(23,105)	0	0
UK Administration	0	18,000	(18,000)	0	0
Sundry Other	0	14,590	(14,590)	0	0
Total Funds	0	130,906	(123,382)	0	7,524

Trustee remuneration and benefits

Trustee, Zahid Kenny, was supported by a donor for UK administration services amounting to £18,000

Registered Charity Number: 1186832

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