_Company Registration No. 01572178 England & Wales Charity No. 283041 Scottish Charity No. SC038451_
**Word of Life Ministries UK Limited (A company limited by guarantee)**
Trustees’ Report and Financial Statements _For the year ended 31 March 2023_
Word of Life Ministries UK Limited
**Contents of the Financial Statements** _for the year ended 31 March 2023_
||Page|
|---|---|
|Report of the Trustees|1 - 4|
|Report of the Independent Examiner|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 – 13|
Word of Life Ministries UK Limited
## **Report of the Trustees** _for the year ended 31 March 2023_
The Trustees (who are also Directors for the purpose of Company law) are pleased to present their report together with the financial statements of the company for the year to 31 March 2023.
## **Reference and administrative details**
**Registered office Bankers** 23 Windmill Avenue CAF Bank Raunds 25 Kings Hill Avenue Wellingborough West Malling NN9 6JX ME19 4JQ
The Ministry Director and staff all currently work from their homes in Edinburgh, Scotland.
## **Status of Company and Governing Document**
Word of Life Ministries UK Limited (WOL UK) is a private company limited by guarantee (Number 01572178) and is a registered charity in England & Wales (Number 283041) and a registered charity in Scotland (Number SC038451), constituted under an updated Memorandum of Association dated 10 June 2004.
## **Trustees and Office Bearers**
## **Board of Trustees**
Alex Konya Chair Madeleine Robins Secretary David Kunzi (appointed 29 October 2022) Matthew Melville (appointed 2 April 2022) Matthew Pitts Stuart Rankin John Tellis (appointed 31 May 2023) Andreas Wenzel
## **Governance**
The Board of Trustees exist to oversee the running of the charitable company and are responsible for the strategic direction. New Trustees are appointed by the existing Trustees and serve for a term of 3 years after which they may put themselves forward for reappointment.
The day-to-day management of staff and activities is delegated to David Kunzi in his role as Ministry Director (previously Ministry Coordinator). He is employed by a mission organisation in Switzerland and seconded to WOLUK as defined in a signed agreement between the two parties.
## **Objective**
The objective of the organisation is to help create a movement of young mature disciples in local churches who love Christ and will passionately share Christ to reach their generation in the UK and beyond.
Page 1
Word of Life Ministries UK Limited
**Report of the Trustees** _for the year ended 31 March 2023_
## **Activities**
- The significant activities undertaken to further these aims are:
- Welcoming self-funded and vetted Interns from Word of Life USA and train them to work with local charities.
- Offering WOL reading and study materials to local churches.
- Supporting several youth groups.
- Leading certain youth events, like Nerf Parties.
- Engaging with local churched and building a trusted network with them to share needs, offer programmes and volunteer solutions.
- Building relationships with like-minded organisations country wide to learn different methods and hear different success stories to duplicate them.
- Inviting speakers to conferences to teach on positive family habits.
- Carrying out puppet shows in school assemblies, aiding those schools in meeting their religious observance requirements.
The Trustees have had regard to the Charity Commission’s guidance on public benefit.
## **Achievements and performance**
In 2022-23, we had a busy year as staff continued to work with the youth at Carrubbers Christian Centre through weekly meetings and youth activities, like Nerf Parties. We were also able to run Scripture Union (SU) clubs at a number of schools in Edinburgh. During December, we presented the Christmas story to children in schools, using material provided by churches and SU. One gap year student from SU helped us during that time. On the 8th-13th of August, at this year’s Fringe Outreach, we were able to run 12 events over 6 days in which we presented the clear Gospel message to over 700 people. This year’s event was unique in that we did not have our usual team of Associate Staff or full-time staff to assist. Instead, we recruited a team of 5 volunteers from two local churches we are involved with. These volunteers were all young teens (ages 13-15) who were puppeteers for the week and were also involved in flyer distribution for the events. We also had various other people volunteering from Carrubbers to assist each day and had 3-5 helpers most days in addition to the five puppeteers. We also had two teenage girls from the Larbert area join us to help on two of the days. They had previously attended our summer camp in 2019 for the first time.
In August 2022, David Kunzi joined WOL UK from WOL Argentina as Ministry Coordinator. He will oversee the UK Ministry in general and focus on the growth of the work in accordance with our vision, aims and objectives. In line with this, we have had exploratory visits from three families. Due to these trips, all of them are in the process of planning to come back to the UK to join the work of WOL UK.
Towards the end of the calendar year, we began to help every week at the Livingroom Church in Wallyford with their youth work. We also worked with them to organise and complete a weekend camp for children between the ages of 12 and 17.
Towards the end of March, we also hosted Fernando Soriano, a Word of Life speaker from Argentina, introducing him to various organisations where he was able to speak about his life story and recovery program from addiction.
Page 2
Word of Life Ministries UK Limited
## **Report of the Trustees** _for the year ended 31 March 2023_
## **Plans for 2023/2024**
In the next financial year, we anticipate a busy period of activity as we implement a plan for growth and revitalisation for WOL UK.
We hope to run the same Kids programme at the Edinburgh Fringe from August 7[th] -12th with teams coming from the USA to help run it. We would like to increase the number of adult volunteers to a minimum of five each day as we must have at least one adult volunteer to every two teens involved for safety reasons whilst handing out flyers.
Our intention is to build stronger relationships with Churches in East Lothian and offer them the resources of Kids/Teens Bible Devotionals and training for their leaders. We hope to welcome several ministry workers to help offer more Nerf Parties, Day camps and weekend camps, and will explore the possibilities of new activities which have been tried and tested in other parts of the world. We also hope to welcome some short-term Interns to work with us in these churches across East Lothian. We plan that David Kunzi can attend various and relevant conferences around the world to promote and recruit Workers to help with these plans.
We also plan to begin working on a long-term Volunteer Programme that will allow older teens and young adults the chance to work with us for between one to two years where they can learn to be youth leaders in the UK while advancing our aims and objectives.
## **Financial review**
## _**Results for the year**_
The financial statements for the year are set out on pages 6 to 13. The Statement of Financial Activities on page 6 reflects net expenditure of £12,740 (2022: net expenditure of £10,034). Total funds amounted to £119,485 (2022: £132,225), of which £70,634 (2022: £131,901) was unrestricted and £48,851 (2022: £324) was restricted.
The Trustees continue to monitor the financial situation closely during these financially challenging times for the sector.
## _**Reserves policy**_
The total unrestricted reserves held at 31 March 2023 amounted to £70,634 (2022: £131,901). It is the policy of the Charity to build up sufficient reserves to meet the planned expenditure requirement for the next year. This policy was met this year-end.
The policy is being kept under review by the Board to ensure it continues to adequately reflect the financial risks of the Charity during the current challenging climate.
## **Statement on risk**
The Trustees, as Directors of the Company, have a duty to identify and review the risks to which the Company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees considered risks to which the Company may be subject and are satisfied that they have introduced procedures to mitigate the possible effects of those risks.
Page 3
Word of Life Ministries UK Limited
## **Report of the Trustees** _for the year ended 31 March 2023_
## **Statement of Trustees’ responsibilities**
Charity law requires the Trustees (who are also the Directors) to prepare financial statements for each financial year which give a true and fair view of the state of the Company’s affairs and of its income and expenditure, including its surplus or deficit for that year, and which have been properly prepared from and are in agreement with the accounting records of the Company and comply with relevant disclosure requirements.
In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any 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 Company will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the Company’s financial position and enable the Trustees to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for taking such steps as are reasonably open to them to safeguard the Company’s assets and to prevent and detect fraud and other irregularities.
The report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.
## **On behalf of the Trustees**
**Madeleine Robins** _Secretary_
Date: 9 November 2023
Page 4
## Word of Life Ministries UK Limited
## **Report of the Independent Examiner to the Trustees** _for the year ended 31 March 2023_
I report on the accounts of the company for the year ended 31 March 2023 which are set out on pages 6 to 13.
## **Respective responsibilities of Trustees and examiner**
The Charity Trustees (who are also the Directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006, the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Charity Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Basis of independent examiner’s statement**
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations (as amended) and the Charities Act 2011. An examination includes a review of the accounting records kept by the Company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the Directors concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s Statement**
In the course of my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 130 of the Charities Act 2011, Section 44(1) (a) of the Charities and Trustee Investment (Scotland) Act 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended)
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Alison Franks**
_Director_
Cornerstone Accounting Limited Chartered Accountants
11 Erngath Road Bo’ness EH51 9DP
Date: 9 November 2023
Page 5
Word of Life Ministries UK Limited
## **Statement of Financial Activities (incorporating Income and Expenditure account)**
For the year ended 31 March 2023
|**Notes**
**Income and endowments**
Donations and legacies
**2**
Charitable activities
**3**
Investments
**4**
**Total income and endowments**
**Expenditure**
Raising funds
**5**
Charitable activities
**6**
**Total expenditure**
**Net (losses)/gains on investments**
**8**
**Net (expenditure)/income**
Transfers between funds
**11**
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**
**Represented by:**
General fund
**11**
Restricted funds
**11**
**Total funds**|**General**
**fund**
**£**
**9,552**
**2,744**
**1,251**
**13,547**
**720**
**16,309**
**17,029**
**(5,702)**
**(9,184)**
**(52,083)**
**(61,267)**
**131,901**
**70,634**
**70,634**
**-**
**70,634**|**Restricted**
**funds**
**£**
**45,054**
**-**
**-**
**45,054**
**-**
**48,610**
**48,610**
**-**
**(3,556)**
**52,083**
**48,527**
**324**
**48,851**
**-**
**48,851**
**48,851**|**2023**
**Total**
**£**
**54,606**
**2,744**
**1,251**
**58,601**
**720**
**64,919**
**65,639**
**(5,702)**
**(12,740)**
**-**
**(12,740)**
**132,225**
**119,485**
**70,634**
**48,851**
**119,485**|General
fund
£
54,239
-
768
55,007
770
66,962
67,732
2,367
(10,358)
-
(10,358)
142,259
131,901
131,901
-
131,901|Restricted
funds
£
1,351
-
**-**
1,351
-
1,027
1,027
-
324
-
324
-
324
-
324
324|2022
Total
£
55,590
-
768
56,358
770
67,989
68,759
2,367
(10,034)
-
(10,034)
142,259
132,225
131,901
324
132,225|
|---|---|---|---|---|---|---|
The notes on pages 8 to 13 form part of these financial statements.
Page 6
Word of Life Ministries UK Limited
(Registered No: 01572178)
## **Balance sheet**
As at 31 March 2023
|**Notes**
**Fixed assets**
Tangible assets
**7**
Investments
**8**
**Total fixed assets**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Total current assets**
**Liabilities**
Creditors: falling due within one year
**10**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Funds of the Charity**
General fund
**11**
Restricted funds
**11**
**Total charity funds**|**General**
**fund**
**£**
**10,799**
**48,589**
**59,388**
**813**
**11,433**
**12,246**
**1,000**
**11,246**
**70,634**
**70,634**
**70,634**
**-**
**70,634**|**Restricted**
**funds**
**£**
**-**
**18,971**
**18,971**
**-**
**31,740**
**31,740**
**1,860**
**29,880**
**48,851**
**48,851**
**-**
**48,851**
**48,851**|**2023**
**Total**
**£**
**10,799**
**67,560**
**78,359**
**813**
**43,173**
**43,986**
**2,860**
**41,126**
**119,485**
**119,485**
**70,634**
**48,851**
**119,485**|General
fund
£
12,629
84,768
97,397
1,822
36,067
37,889
3,385
34,504
131,901
131,901
131,901
-
131,901|Restricted
funds
£
-
-
-
-
324
324
-
324
324
324
-
324
324|2022
Total
£
12,629
84,768
97,397
1,822
36,391
38,213
3,385
34,828
132,225
132,225
131,901
324
132,225|
|---|---|---|---|---|---|---|
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The Directors acknowledge the following:
their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of the accounts; and
that the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The financial statements on pages 6 to 13 were approved by the Trustees on 9 November 2023 and signed on their behalf by:
__________________________
## **Madeleine Robins, Secretary**
The notes on pages 8 to 13 form part of these financial statements.
Page 7
Word of Life Ministries UK Limited
## _**Notes to the Financial Statements** for the year ended 31 March 2023_
## **1. Accounting policies**
## _**Accounting convention**_
The financial statements are prepared under the historical cost convention and in accordance with FRS 102, and in compliance with the Charities SORP 2019, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. The principal accounting policies adopted in the preparation of the financial statements are set out below.
Word of Life Ministries UK Limited meets the definition of a public benefit entity under FRS 102.
## _**Company status**_
The charity is a private company limited by guarantee and registered in England & Wales. The members of the company are Directors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
## _**Basis of financial statements**_
The financial statements have been prepared on an accruals basis. The Trustees consider that there are no material uncertainties so the accounts have been prepared on a going concern basis.
## _**Income and debtors**_
All income is included on the Statement of Financial Activities when the Company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Debtors are valued at cost at the year-end and adjusted for any amounts considered to be irrecoverable.
## _**Expenditure and creditors**_
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Support costs are those costs incurred directly in support of expenditure on the objects of the company.
Creditors are valued at cost at the year-end and split between amounts due in less than one year and amounts due in more than one year.
## _**Taxation**_
The Company is exempt from Corporation Tax on its charitable activities.
## _**Tangible fixed assets and depreciation**_
Tangible fixed assets over £500 are capitalised and are stated at cost less depreciation, adjusted for any diminution of value in the year. Depreciation is provided at rates calculated to write off the cost less estimated residual value, over their expected useful lives, as follows:
- Fixtures and fittings
- Motor vehicles
- Office equipment
25% reducing balance 25% reducing balance 25% reducing balance
Page 8
Word of Life Ministries UK Limited
## _**Notes to the Financial Statements** for the year ended 31 March 2023_
## **1. Accounting policies (continued)**
## _**Investments**_
Fixed asset investments are included in the accounts at quoted market value at the year-end. Any gains or losses arising on disposal or revaluations are included in the SOFA.
## _**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 account.
## _**Fund accounting**_
For the purpose of the Statement of Financial Activities, funds are defined as follows:
_Unrestricted_ funds comprise income received for the objects of the company without further specified purpose and are available as general funds or are placed within designated funds which can be used for purposes in agreement with its charitable objectives.
_Restricted_ funds comprise income which has been received for the objects of the company and specified for a restricted purpose within these objects by the donor.
## _**Foreign currencies**_
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling on the transaction date.
## _**Pensions**_
The company operates a defined contribution pension scheme with NEST. The pension charge represents the amount payable by the company into the scheme in the year.
## _**Donated goods and services**_
The Charity benefited from the services of the Ministry Director who has been seconded to WOLUK from a mission organisation based in Switzerland.
Page 9
## Word of Life Ministries UK Limited
Notes to the financial statements For the year ended 31 March 2023
## **2. Donations and legacies**
|Donations from UK
Donations from USA
Donations from Switzerland
Gift aid receivable
JRS grants
**3. Income from charitable activities**
Event income
Literature sales
**4. Investment income**
Dividend income
Interest receivable
Exchange rate gains
**5. Expenditure on raising funds**
Investment management costs|**General**
**fund**
**£**
**580**
**6,826**
**2,086**
**60**
**-**
**9,552**
**General**
**fund**
**£**
**2,207**
**537**
**2,744**
**General**
**fund**
**£**
**1,214**
**37**
**-**
**1,251**
**General**
**fund**
**£**
**720**|**Restricted**
**funds**
**£**
**21,669**
**20,972**
**-**
**2,413**
**-**
**45,054**
**Restricted**
**funds**
**£**
**-**
**-**
**-**
**Restricted**
**funds**
**£**
**-**
**-**
**-**
**-**
**Restricted**
**funds**
**£**
**-**|**2023**
**Total**
**£**
**22,249**
**27,798**
**2,086**
**2,473**
**-**
**54,606**
**2023**
**Total**
**£**
**2,207**
**537**
**2,744**
**2023**
**Total**
**£**
**1,214**
**37**
**-**
**1,251**
**2023**
**Total**
**£**
**720**|General
fund
£
19,548
18,748
-
2,647
13,296
54,239
General
fund
£
-
-
-
General
fund
£
696
-
72
768
General
fund
£
770|Restricted
funds
£
1,351
-
-
-
-
1,351
Restricted
funds
£
-
-
-
Restricted
funds
£
-
-
-
-
Restricted
funds
£
-|2022
Total
£
20,899
18,748
-
2,647
13,296
55,590
2022
Total
£
-
-
-
2022
Total
£
696
-
72
768
2022
Total
£
770|
|---|---|---|---|---|---|---|
Page 10
## Word of Life Ministries UK Limited
Notes to the financial statements For the year ended 31 March 2023
## **6. Expenditure on charitable activities**
|Wages and salaries
Employer NI
Employer pension
Other staff costs
Event expenses
Resources costs
Conference expenses
Travel expenses
Insurance costs
IT and office costs
Advertisting and promotion
Subscriptions
Depreciation
Loss on disposal of fixed assets
Donations
Professional fees
Cornerstone Accounting fees:
Independent examination fee
Payroll services
Corporation tax services (2 years)
Bank charges
**Total expenditure**|**General**
**fund**
**£**
**-**
**-**
**-**
**1,111**
**2,707**
**282**
**-**
**3,821**
**750**
**1,202**
**59**
**12**
**3,599**
**-**
**-**
**1,248**
**990**
**154**
**220**
**154**
**16,309**|**Restricted**
**funds**
**£**
**46,212**
**-**
**1,012**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**1,386**
**-**
**-**
**-**
**-**
**-**
**48,610**|**2023**
**Total**
**£**
**46,212**
**-**
**1,012**
**1,111**
**2,707**
**282**
**-**
**3,821**
**750**
**1,202**
**59**
**12**
**3,599**
**-**
**1,386**
**1,248**
**990**
**154**
**220**
**154**
**64,919**|General
fund
£
52,737
328
1,012
-
-
-
347
2,198
2,294
295
-
1,161
4,210
1,253
-
-
1,000
-
-
127
**66,962**|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,027
-
-
-
-
-
**1,027**|2022
Total
£
52,737
328
1,012
-
-
-
347
2,198
2,294
295
-
1,161
4,210
1,253
1,027
-
1,000
-
-
127
**67,989**|
|---|---|---|---|---|---|---|
The average number of staff employed during the year was 2 (2022: 2). No employees were paid more than £60,000. None of the staff met the definition of key management personnel.
No holiday pay was due at the year-end (2022: nil).
## **7. Tangible fixed assets**
|**Cost**
At 1 April 2022
Additions
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for year
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022|**Motor**
**vehicles**
**£**
17,000
-
17,000
4,371
3,157
7,528
**9,472**
12,629|**Office**
**equipment**
-
1,769
1,769
-
442
442
**1,327**
-|**Total**
**£**
**17,000**
**1,769**
**18,769**
**4,371**
**3,599**
**7,970**
**10,799**
12,629|
|---|---|---|---|
Page 11
Word of Life Ministries UK Limited
Notes to the financial statements For the year ended 31 March 2023
## **8. Investments**
|Market value at 1 April
Additions (at cost)
Disposals (at cost)
Dividends received and reinvested
Fees charged
Net gain/(loss) in investments
**Market value at 31 March**
Historical cost at 31 March
Net gains/(losses) on investments comprise:
Realised gains on disposal
Unrealised (loss)/gain on valuation
**9. Debtors**
**General**
**fund**
**£**
Prepayments and accrued income
**-**
Gift aid recoverable
**813**
**813**
**10. Creditors: falling due within one year**
**General**
**fund**
**£**
Accruals and deferred income
**1,000**
Taxation and social security
**-**
**1,000**|**Restricted**
**funds**
**£**
**-**
**-**
**-**
**Restricted**
**funds**
**£**
**-**
**1,860**
**1,860**|**2023**
**Total**
**£**
**-**
**813**
**813**
**2023**
**Total**
**£**
**1,000**
**1,860**
**2,860**|General
fund
£
707
1,115
1,822
General
fund
£
1,000
2,385
3,385|**2023**
**Total**
**£**
**84,768**
**6,901**
**(18,947)**
**1,214**
**(720)**
**(5,656)**
**67,560**
**64,564**
**2023**
**Total**
**£**
**619**
**(6,321)**
**(5,702)**
Restricted
funds
£
-
-
-
Restricted
funds
£
-
-
-|**2022**
**Total**
**£**
82,475
9,012
(9,782)
696
(770)
3,137
84,768
76,610
**2022**
**Total**
**£**
1,474
893
2,367
2022
Total
£
707
1,115
1,822
2022
Total
£
1,000
2,385
3,385|
|---|---|---|---|---|---|
Page 12
Word of Life Ministries UK Limited
## Notes to the financial statements
For the year ended 31 March 2023
## **11. Funds analysis Current year**
|**_Unrestricted funds_**
General fund
Total unrestricted funds
**_Restricted funds_**
Meszaros support fund
Hungary and Serbia fund
Hungary fund
Serbia fund
Total restricted funds
**Prior year**
Unrestricted funds
General fund
Total unrestricted funds
Restricted funds
Hungary and Serbia fund
Total restricted funds|**Balance at**
**01.04.22**
**£**
**131,901**
**131,901**
**-**
**324**
**-**
**-**
**324**
Balance at
01.04.21
£
142,259
142,259
-
-|**Income Expenditure**
**£**
**£**
**13,547**
**(17,029)**
**13,547**
**(17,029)**
**43,638**
**(47,224)**
**-**
**(324)**
**876**
**(657)**
**540**
**(405)**
**45,054**
**(48,610)**
Income Expenditure
£
£
55,007
(67,732)
55,007
(67,732)
1,351
(1,027)
1,351
(1,027)|**Investm't**
**gains**
**£**
**(5,702)**
**(5,702)**
**-**
**-**
**-**
**-**
**-**
Investm't
gains
£
2,367
2,367
-
-|**Transfers**
**£**
**(52,083)**
**(52,083)**
**52,083**
**-**
**-**
**-**
**52,083**
Transfers
£
-
-
-
-|**Balance at**
**31.3.23**
**£**
**70,634**
**70,634**
**48,497**
**-**
**219**
**135**
**48,851**
Balance at
31.3.22
£
131,901
131,901
324
324|
|---|---|---|---|---|---|
## _**Explanation of funds**_
The _General fund_ represents all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is restricted.
The _Meszaros support fund_ represents funds raised in the UK and USA to cover the salaries and costs of Andris and Anouska Meszaros who are employed by the Company. The transfer in the year represents the amounts carried forward in the general funds in previous years which should have been ring-fenced for their missionary support.
The _Hungary and Serbia fund_ represents funds raised in the UK to support missionary work in those countries. This has been split into the separate countries this year (see below).
The _Hungary fund_ represents funds received towards raised in the UK to support missionary work in those countries.
The _Serbia fund_ represents funds received towards raised in the UK to support missionary work in those countries.
## **12. Defined contribution pensions**
The Company operates a defined contribution plan for its staff with NEST. The total payments to the scheme are disclosed at note 6.
## **13. Directors' and other related parties' transactions**
No Director received any remuneration from the charity (2022: nil). Expenses were claimed and reimbursed for event costs for David Kunzi (£111).
No donations were received from Directors or individuals related to the Directors in the year (2022: £nil). £35 was received from David Kunzi for literature purchased from the charity.
There were no other transactions with related parties during the year (2022: nil).
## **14. Liability of Members**
The company is limited by guarantee, with the liability of each member limited to £1. The members of the Company are those Trustees listed on page 1. Page 13
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