Registered Charity Number :_ I 189122 ACM CHRIST ASSEMBLY MINISTRY FINANCIAL STATEMENrs FOR THE YEAR END 30 November 2023 Dartford STATEMENT OF FINANCIAL ACTIITfiES...................................................................................................... BALANCE SHEET................................................................................................................................................ OTES TO THE FLXJLNCIAL STATEM￿￿5.... Recommended categories bl- actiiity ITnrestricted nds Total Funds 2023 Total Funds 2022 IncoADe and endowments from: Donations and legacies 14.020.(K) 14.020.(M) 23.614.00 Total 14,020.00 14,020.00 23,614.00 Resources expended Expenditure on: R￿Sillg fiuuls 650.(K) 650.00 11.525.00 Chan"table actii"itses 650.C(I 650.00 8.908.00 Total i Joo.00 iJoo.00 20,433.00 et lnconiel(e￿euditllre) before ini"estment gainsl(losses) 12,720.00 12,720.00 3,ISI.00 Net income/(expeDditsre) 12.720.00 12.720.00 3,181.00 Net moi-ement in funds 12.720.00 12.720.00 3,181.00 Reconcdiatson of filllds: Total fimds brought foThN7rd 11.392.tKI 11.392.(Ki 8211_00 Total funds carried forward 24,112.00 24.112.00 11392.00 Recommended categories bl- actiiity ITnrestricted nds Total Funds 2023 Total Funds 2022 Fjxed assets Tangible assets 12.720.(KI 12.720.IJ) 12.080.IX) Total fixed assets 12,720.00 12,720.00 12,080.00 C￿￿ellt assets Cash at bank and in hand 2.692.00 Total current assets 2,692.00 Creth"tots: arllounts fallmg due Thithin one year 3.380. Net current a55et510iabllities) (688.00) Total assets less current liabilitie5 12,720.00 12,720.00 IlJ92.00 Total net a55et5 or liabilities 12,720.00 12,720.00 IlJ92.00 Funds of the Clharit)" Unrestncted funds 24.112.(Ki 24.112.(X) 11.392_00 Restricted ￿COrne fill1& EtthThThent funds Total fllnds 24,112.00 24.112.00 IlJ92.00 The financ￿1 statements ￿"t[C approi.ed b)" the Board on 09_Mav_2024 and ￿Ened on its behalf by: Olanthe Kehuule Moradevo TnIst￿, Treasurer l Accounting Policies 1.1 AccouDtiDg Policies The wincipal accowttmg policies adopted by the Clwity". ￿4￿ch is a pubh'c benefit entity. in the preparation of the accounts are as follov*ts. 12 Basts of preparatlon These accounts haN"e been prepated under the h￿t0￿Cal cost coni.ellti0￿ a5 modified by the ￿￿lUsion of chantable woperties and fixed asset Jni"estmeots and mi"eslment propertses at i"aluatio These accounts h￿"e been prepared ]n accordance Th-ith"Accountuw and ReEm)rt￿g by Chan"ties". St￿eMent of Recommended Practtce aPp￿cable to chan.ttes Prepari￿ their accounts ia acc￿dance the Financial Reporting Standard applicable in the and Republic of Ireland (FRS 102):: (effectii"e l JanuaTh, 2019) - (Chanties SOR9 (FRS 102)): the FJnancJal Report￿￿ Standard apphcable ￿ the LX and RePUb￿C of Ireland (FRS 102) and the Charities Act ?01 l. These accounts are presented ￿ pounds sterlmg and rounded to the nearest pound. IJ Going concern The T￿￿teeS hai"e prepared financial projections: takmg mto consideratson the cuNent econonllc conth"tions and hai"e: at the tllne of appro}￿g these accounts: a reasonable Lxpectation that the chariTh has adequate resoutces to cOnt￿Ue m operational e￿stenCe for the foreseeable fiJture. Thus the)" cOnt￿Ue to ad¢)pt the gomg concern bas￿ of accounting ￿ prePa[ll￿ the accounts. 1.4 Income from doDatlODS or grants Income from donattons and grants is recognized the chant)" is eotitled to the fi￿d$. the receipt is probable and the amount can be njeasured reliabh.. For donats'ons: thi's is usuall!. on receipt. For granis: thi's Is usuall)" 14then a fornial ￿ made m Th￿ting. If a donation or grant contains tern￿ and conth"tions outside of the chan"ti' s control iith.ch musi be met before the cbarits" is entiiled to the fiuth. w rfthe donor specifies that the fimds must be used In future tllne periods: then the mcome is def￿Ted. 1.5 Eipenditllre Expenditure is recognised Hthen a present legal or constr￿1"e obligation exists at the balance sheet date as result of a past ￿"ellt: It ￿ probable that a transfer of econonuc benefits Thill be requwed to settle the obhgatiotL and the atDounl can be estsnared relthbly. It is inclusii"e of IAT Hluch catmot be recoi"ered. Direct costs are those costs u"lu'ch directiN' atmbute to its athiuttes. Ilages and salaries are allocated to direct co￿$ based on an eStIn￿le of time spent on clwi'table actiiitses bj staff members. Support costs include staff costs and are those Blu'dl do not pr¢xluce a thiect output. Staff costs relate to specific actiiities alld is reflected in the allocation of pa)Toll costs based on the percentage of tinie spent. All costs, lllcludmg goi"ernance costs: are allocated bett4.een the expenth.ture categones of the clwity on a bas￿ designed to reflect the use of the Iesource. Costs relatmg to a particular acttiity are charged d￿eCtLy. othets ate appornoned oll an 4)prwiate bas￿. Support Costs and oi"erheads bai"e been calculated by all(￿￿ltig stsff time to the I￿"e1 of ini"oli"ement in the i"arious actii"ities of the Chan"ty. 1.6 Creditors The cljarity has creditors are measured at settlement amounts less an). trade discounts. 1.7 Debtors Debtors (￿clud￿￿ trade debtors and loans recai"able) are measuted on Ulltsal recogIirtion at settlement amount after an!, trade d￿OUnts or amount a