Company registration number: 13145337 Charity registration number: 1193973
The Ark Mission at Trinity Limited
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 July 2024
Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 0RB
The Ark Mission at Trinity Limited
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 to 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 21 |
The Ark Mission at Trinity Limited
Reference and Administrative Details
| Chairman | Stephen Hirst |
|---|---|
| Trustees | Chukwudi Aniereobi |
| Maria Burgess | |
| Stephen Hirst | |
| John Ingle | |
| Maria Morgan | |
| Edward Otieno | |
| Charity Registration Number | 1193973 |
| Company Registration Number | 13145337 |
| Registered Office | 69 Oak Tree Gardens |
| Bromley | |
| BR1 5BE | |
| Independent Examiner | Field Sullivan Limited |
| 9 Hare & Billet Road | |
| Blackheath | |
| SE3 0RB | |
| Bankers | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ |
Page 1
The Ark Mission at Trinity Limited
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 July 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles, the Companies Act 2006 and "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
Objects and aims
The charity's objects are to:
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Advance the Christian faith.
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To relieve sickness and financial hardship.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public benefit
The activities of the charity is to operate as a church. These include:
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Providing weekly Sunday meetings for collective teaching and worship.
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Opportunities for all to meet regularly together in small groups.
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Relief of poverty.
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Weekly evangelistic outreaches on the high street.
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.
Achievements and performance
Over this financial year, The Ark Mission has expanded its international support, strengthening its outreach in Mexico, Holland and the Far East.
The work in Mexico is proving to be a valuable and encouraging learning experience. In a notoriously dangerous part of the city, there has been strong and meaningful engagement with local people. A weekly community prayer meeting has begun, alongside consistent outreach to the local youth. We are excited to see how this new work continues to grow and develop, with the hopeful vision of planting a new church in the future potentially following a house church model.
In the summer of last year, the Bromely Ark Mission successfully launched our first local community children's outreach project, which was well attended and well received. Additionally, our general church activities have continued to grow, reflecting our commitment to serving both our local and global communities.
Page 2
The Ark Mission at Trinity Limited
Trustees' Report
Financial review
The trustees are pleased to report a surplus in the period of £2,998 (2023: £22,470).
Policy on reserves
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period.
Three months unrestricted expenditure currently would amount to around £35,500. The balance held in unrestricted net current assets at the end of this period was £78,630 (2023: £73,209).
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Chukwudi Aniereobi Maria Burgess Stephen Hirst John Ingle Maria Morgan (appointed 21 January 2025) Edward Otieno Chairman: Stephen Hirst
Structure, governance and management
Nature of governing document
The charity is a company limited by guarantee governed by memorandum and articles of association.
Page 3
The Ark Mission at Trinity Limited
Trustees' Report
Recruitment and appointment of trustees
New trustees are appointed by the existing trustees and a third retire by rotation each year. The charity constitution provides for a minimum of three trustees. The induction and training of new trustees into the work of the charity and responsibilities is undertaken by other trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Elders have responsibility for the spiritual direction and the activities, including pastoral matters of The Ark Mission at Trinity Limited ("The Ark"). Currently each Elder is also a trustee. Existing trustees ensure that new trustees are aware of their legal obligations under charity law together with the operations of the charity.
Organisational structure
In common with many churches, The Ark Mission is heavily reliant on the services of volunteers and greatly appreciates the work they undertake.
The Ark has close links with other churches in the area and is a member of Churches Together in Central Bromley.
While The Ark does not form part of a denominational grouping, it is a member of the Evangelical Alliance and adheres to its principles.
Statement of trustees' responsibilities
The trustees (who are also the directors of The Ark Mission at Trinity Limited for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 4
The Ark Mission at Trinity Limited
Trustees' Report
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 25 April 2025 and signed on its behalf by:
......................................... Stephen Hirst Chairman and trustee
Page 5
The Ark Mission at Trinity Limited
Independent Examiner's Report to the trustees of The Ark Mission at Trinity Limited ('the Company')
I report to the charity trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the The Ark Mission at Trinity Limited (‘the charitable company’) for the year ended 31 July 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity’s trustees of The Ark Mission at Trinity Limited 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 Ark Mission at Trinity Limited 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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
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:
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accounting records were not kept in respect of The Ark Mission at Trinity Limited as required by section 386 of the 2006 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 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
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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.
Page 6
The Ark Mission at Trinity Limited
Independent Examiner's Report to the trustees of The Ark Mission at Trinity Limited ('the Company')
...................................... Tim Sullivan FCA Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 0RB Date:.............................
Page 7
The Ark Mission at Trinity Limited
Statement of Financial Activities for the Year Ended 31 July 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies Investment income 4 Total income Expenditure on: Charitable activities Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted £ 147,566 215 147,781 (142,051) (142,051) 5,730 (1,816) 3,914 75,835 79,749 |
Restricted £ 23,894 - 23,894 (26,626) (26,626) (2,732) 1,816 (916) 27,097 26,181 |
Total 31 July 2024 £ 171,460 215 171,675 (168,677) (168,677) 2,998 - 2,998 102,932 105,930 |
Unrestricted £ 233,724 119 233,843 (207,041) (207,041) 26,802 - 26,802 49,033 75,835 |
Restricted £ 14,883 - 14,883 (19,215) (19,215) (4,332) - (4,332) 31,429 27,097 |
Total 1 February 2022 to 31 July 2023 £ 248,607 119 |
|---|---|---|---|---|---|---|
| 248,726 | ||||||
| (226,256) | ||||||
| (226,256) | ||||||
| 22,470 - |
||||||
| 22,470 80,462 |
||||||
| 102,932 |
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 16.
The notes on pages 11 to 21 form an integral part of these financial statements. Page 8
The Ark Mission at Trinity Limited
(Registration number: 13145337) Balance Sheet as at 31 July 2024
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand 13 Creditors: Amounts falling due within one year 14 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 16 |
2024 £ 1,119 8,631 98,100 106,731 (1,920) 104,811 105,930 26,181 79,749 105,930 |
2023 £ 2,626 5,264 98,863 |
|---|---|---|
| 104,127 (3,821) |
||
| 100,306 | ||
| 102,932 | ||
| 27,097 75,835 |
||
| 102,932 |
For the financial year ending 31 July 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The notes on pages 11 to 21 form an integral part of these financial statements. Page 9
The Ark Mission at Trinity Limited
(Registration number: 13145337) Balance Sheet as at 31 July 2024
The financial statements on pages 8 to 21 were approved by the trustees, and authorised for issue on 25 April 2025 and signed on their behalf by:
......................................... Stephen Hirst Chairman and trustee
The notes on pages 11 to 21 form an integral part of these financial statements. Page 10
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
1 Charity status
The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 69 Oak Tree Gardens Bromley BR1 5BE
These financial statements were authorised for issue by the trustees on 25 April 2025.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 2019) - (Charities SORP (FRS 102) - Second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
The Ark Mission at Trinity Limited 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 11
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the directos are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.
Income and endowments
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 the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 12
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Fixtures, fittings and equipment straight line over 3 years
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 13
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Gift aid reclaimed Other income from donations and legacies 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 125,604 21,962 - 147,566 |
Restricted funds £ 20,793 3,101 - 23,894 Unrestricted funds General £ 215 |
Total 2024 £ 146,397 25,063 - 171,460 Total 2024 £ 215 |
Total 2023 £ 214,300 33,681 626 |
|---|---|---|---|---|
| 248,607 | ||||
| Total 2023 £ 119 |
Page 14
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
5 Expenditure on charitable activities
| Note Missions and discipleship costs Youth & children's work Premises costs Storage Insurance Equipment Telephone and fax Computer software and maintenance Subscriptions Other ministry costs Travel and subsistence Bank charges Depreciation of fixtures and fittings Grant funding of activities 7 Staff costs Support costs 6 |
Total 2024 £ 18,025 275 10,057 - 726 - 1,720 2,096 1,691 1,421 1,438 235 1,508 32,389 94,765 2,331 168,677 |
Total 2023 £ - 525 9,448 1,721 1,122 50 2,055 1,863 2,348 1,624 1,360 457 2,440 91,941 107,077 2,225 |
|---|---|---|
| 226,256 |
In addition to the expenditure analysed above, there are also support costs of £2,331 (2023 - £2,225) which relate directly to charitable activities. See note 6 for further details.
6 Analysis of support costs
| Printing, postage and stationery Independent examination Other interest payable Sundries |
Total 2024 £ 253 1,992 73 13 2,331 |
Total 2023 £ - 2,100 - 125 |
|---|---|---|
| 2,225 |
Page 15
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
7 Grant-making
Analysis of grants
| Analysis Ready Steady Go! Preschool (Bromley) The Shepherd's Ministries CFH Uganda Other Grants to individuals |
Grants to institutions 2024 £ 2023 £ 2,676 51,033 6,230 9,345 9,920 16,525 2,039 1,857 - - 20,865 78,760 |
Grants to individuals 2024 £ 2023 £ - - - - - - - - 11,524 13,181 11,524 13,181 |
Grants to individuals 2024 £ 2023 £ - - - - - - - - 11,524 13,181 11,524 13,181 |
|---|---|---|---|
| 13,181 |
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
John Ingle
John Ingle received remuneration of £48,185 (2023: £72,278) and £21,217 (2023: £3,582) of expenses were reimbursed to John Ingle during the year.
£18,025 of the expenses reimbursed were to cover John's, his wife's Nichola and their son's discipleship costs in Mexico (£3,313 air travel; £5,284 Discipleship Training School (DTS) fees; £7,000 DTS outreach; £435 Spanih classes; £1,993 Ministry's travel, food and accomodation).
He received remuneration for his pastoral services, in accordance with the authority provided by the memorandum and articles of association.
Mr Ingle is on defined pension contributions scheme and contributions of £1,258 (2023: £1,888) were paid.
Chukwudi Aniereobi
Chukwudi Aniereobi received remuneration of £20,077 (2023: £Nil) and £Nil (2023: £3,182) of expenses were reimbursed to Chukwudi Aniereobi during the year.
He received remuneration for his pastoral services, in accordance with the authority provided by the memorandum and articles of association.
Mr Aniereobi is on defined pension contributions scheme and contributions of £524 (2023: £nil) were paid.
Maria Burgess
£Nil (2023: £2,366) of expenses were reimbursed to Maria Burgess during the year.
Page 16
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Stephen Hirst
£801 (2023: £632) of expenses were reimbursed to Stephen Hirst during the year.
Maria Morgan
£350 (2023: £Nil) of expenses were reimbursed to Maria Morgan during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs |
2024 £ 91,161 899 1,903 802 94,765 |
2023 £ 97,985 679 1,888 6,525 |
|---|---|---|
| 107,077 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| charity during the year expressed as full time equivalents was as follows: | ||
|---|---|---|
| Ministerial Support |
2024 No 2 3 5 |
2023 No 1 3 |
| 4 |
3 (2023 - 1) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £68,262 (2023 - £72,278).
Page 17
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Tangible fixed assets
| 11 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost At 1 August 2023 At 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Net book value At 31 July 2024 At 31 July 2023 12 Debtors Prepayments Other debtors 13 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 6,302 |
Total £ 6,302 6,302 3,674 1,509 5,183 1,119 2,628 2023 £ - 5,264 |
||
| 6,302 | ||||
| 3,674 1,509 |
||||
| 5,183 | ||||
| 1,119 | ||||
| 2,628 | ||||
| 2024 £ 792 7,839 8,631 2024 £ 98,100 |
||||
| 5,264 | ||||
| 2023 £ 98,863 |
Page 18
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
14 Creditors: amounts falling due within one year
| 14 Creditors: amounts falling due within one year | ||
|---|---|---|
| Other creditors Accruals |
2024 £ - 1,920 1,920 |
2023 £ 221 3,600 |
| 3,821 |
15 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,903 (2023 - £1,888).
16 Funds
Current period
| 16 Funds Current period |
|||||
|---|---|---|---|---|---|
| Unrestricted funds General General Funds Restricted funds Building Fund Welfare Fund Christian Family Helpers Saturday School Little Gems Missions Fund Ukraine Fund Total funds |
Balance at 1 August 2023 £ 75,835 22,591 1,438 1,854 872 342 - - 27,097 102,932 |
Incoming resources £ 147,781 - - 9,179 - - 14,715 - 23,894 171,675 |
Resources expended £ (142,051) - - (10,095) - - (16,531) - (26,626) (168,677) |
Transfers £ (1,816) - - - - (119) 1,816 119 1,816 - |
Balance at 31 July 2024 £ 79,749 22,591 1,438 938 872 223 - 119 |
| 26,181 | |||||
| 105,930 |
Page 19
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
| Previous period Unrestricted funds General General Funds Restricted funds Building Fund Welfare Fund Christian Family Helpers Saturday School Little Gems Total funds |
Balance at 1 February 2022 £ 49,033 22,591 1,950 5,973 692 223 31,429 80,462 |
Incoming resources £ 233,843 - 188 12,731 180 1,784 14,883 248,726 |
Resources expended £ (207,041) - (700) (16,850) - (1,665) (19,215) (226,256) |
Balance at 31 July 2023 £ 75,835 22,591 1,438 1,854 872 342 |
|---|---|---|---|---|
| 27,097 | ||||
| 102,932 |
The specific purposes for which the funds are to be applied are as follows:
The building fund is for the purchase of church premises.
The welfare fund is for help for those in need.
Christian Family Helpers is for the support of Ugandan orphans.
Saturday School is run through some school holidays.
Little Gems is a preschool group.
Missions fund to help with costs of overseas mission costs.
Details of transfers between funds
As funds raised for missions did not cover the total expendiure related to these projects, it was agreed that £1,816 was transferred from the general fund to cover for the deficit on this fund.
Page 20
The Ark Mission at Trinity Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
17 Analysis of net assets between funds
Current period
| Tangible fixed assets Current assets Current liabilities Total net assets Previous period Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 1,119 80,550 (1,920) 79,749 Unrestricted funds General £ 2,626 77,030 (3,821) 75,835 |
Restricted funds £ - 26,181 - 26,181 Restricted funds £ - 27,097 - 27,097 |
Total funds at 31 July 2024 £ 1,119 106,731 (1,920) |
|---|---|---|---|
| 105,930 | |||
| Total funds at 31 July 2023 £ 2,626 104,127 (3,821) |
|||
| 102,932 |
18 Related party transactions
During the period the charity entered into the following transactions with related parties:
Gifts totalling £6,230 (2023: £9,344) were made to The Shepherd Ministries a charity in which trustee Chukwudi Aniereobi is a trustee.
Gifts totalling £2,676 (2023: £51,032) were made to Ready Steady Go! Preschool (Bromley), a charity which is controlled by three trustees of this charity.
Donations of £29,474 (2023: £29,139) were received from trustees and related parties.
Nicola Ingle, wife of trustee John Ingle, received remuneration for her administrative services of £6,165 (2023: £9,247) and was reimbursed £281 for expenses she paid on behalf of the charity. The charity covered John's, Nichola's and their son's discipleship costs in Mexico, totalling £18,025.
Lyndsay Hirst, wife of trustee Stephen Hirst, received remuneration for her administrative services of £1,985 (2023: £5,459).
Page 21