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:
1. Advance the Christian faith.
2. 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:
1. Providing weekly Sunday meetings for collective teaching and worship.
2. Opportunities for all to meet regularly together in small groups.
3. Relief of poverty.
4. 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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
1. accounting records were not kept in respect of The Ark Mission at Trinity Limited 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.
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:
- 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
- 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).
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