TIMES OF REFRESHING MINISTRIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
TIMES OF REFRESHING MINISTRIES
FOR THE YEAR ENDED 31ST MARCH 2024
| TABLE OF CONTENTS | PAGE |
|---|---|
| Trustees Report | 1 |
| Independent Examiners Report | 2 |
| Statement of Financial Activities | 3 |
| Balance sheet | 4 |
| Notes to the Accounts | 5-6 |
TIMES OF REFRESHING MINISTRIES
Page 1
FOR THE YEAR ENDED 31ST MARCH 2024
TRUSTEE REPORT
The Trustee's present their report and the financial statements of the charity for the year ended 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Number: NIC100577 Registered Office: Unit 13, Workspace, 80 Rainey Street Magherafelt Co. Londonderry BT45 5AH
TRUSTEES
The trustees who served the charity during the year were:
Mr Derek Price Mr Brian Patton Dr Kelvin McCracken
PRINCIPAL ACTIVITIES
The charity provides a therapeutic approach to those with emotional needs using talking therapies. This includes listening, psycho-dynamic counselling, CBT and therapeutic pastoral approach to the needs of the client.
STRUCTURE AND GOVERNANCE
The charity is governed by a Trust Deed.
FINANCIAL REVIEW
The charity reports a deficit of £16,526 for the year. This offsets a surplus of £15,382 for the year ending March 2023, resulting in a decreased reserve balance of £19,858.The total income decreased significantly, primarily due to £23,500 of Grants being secured in the previous financial year.
Non Grant income decreased by over 20% but our operational expenditure increased by 26%. The increased expenditure has been funded through significant grant awards in the previous financial year and is primarily due to to investing in volunteer training. Reserves at March 2024, along with projected non-grant income, should provide funding for continued operation to Summer 2025.
ACHIEVEMENTS AND PERFORMANCE
Throughout the past year we have maintained both client numbers and counselling hours. We have completed our Pastoral Ministry Training Manual, which is now ready for use when training courses start again.
PLANS FOR FUTURE PERIODS
TRM will continue to provide excellent services bringing a range of benefits to the public. These services are concentrated around our core counselling service providing both emotional and spiritual support to the public. We will continue to utilise digital technology, carrying out on-line counselling via video platforms such as zoom. We will also continue to carry out in-person counselling in both Magherafelt and Greater Belfast. A detailed review by the Trustees of both income sources and operational costs is being carried out in early 2025, with the aim of securing future ministries or if required, organising a timely winding down of charitable operations.
RESPONSIBILITIES OF TRUSTEES
The Trustees are responsible for the management and administration of the Trust, for directing the affairs of the Trust and ensuring that it delivers its charitable objects. The Trustees are also responsible for preparing the annual report and accounts. Trustees also ensure that the Trust is compliant with the rules of the Trust as set out in its governing document.
Signed on behalf of the Trustees on 13th January 2025 :-
D. Price
TIMES OF REFRESHING MINISTRIES Page 3
STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2024
| Notes INCOMING RESOURCES 2 Incoming resources from generating funds: Voluntary income Activities for generating funds Investment income Other incoming resources TOTAL INCOMING RESOURCES RESOURCES EXPENDED 3 Charitable activities Goverance costs Other resources expended TOTAL RESOURCES EXPENDED NET [OUTGOING] INCOMING RESOURCES FOR THE YEAR NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted Total Funds Funds 2024 2024 2024 8,769 0 8,769 3,741 0 3,741 78 0 78 307 0 307 12,895 0 12,895 750 0 750 28,671 0 28,671 0 0 0 0 29,421 0 29,421 -16,526 0 -16,526 -16,526 0 -16,526 36,384 0 36,384 19,858 0 19,858 |
Total 2023 10,962 3,801 11 23,500 38,274 221 22,672 0 0 22,893 15,382 15,382 21,002 36,384 |
|---|---|---|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities
| TIMES OF REFRESHING MINISTRIES BALANCE SHEET AS AT 31 MARCH 2024 Notes FIXED ASSETS Tangible Assets 6 CURRENT ASSETS Debtors: Amounts due within 1 year Cash at bank and in hand CREDITORS: Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURENT LIABILITIES FUNDS OF THE CHARITY Unrestricted Funds Restricted Income Funds TOTAL FUNDS |
Unrestricted Restricted Total Funds Funds 2024 2024 2024 271 0 271 0 0 0 19,687 0 19,687 19,687 0 19,687 100 0 100 19,587 0 19,587 19,858 0 19,858 19,858 0 19,858 0 0 0 19,858 0 19,858 |
Page 4 Total 2023 339 0 36,145 36,145 100 36,045 36,384 36,384 0 36,384 |
|---|---|---|
These financial statements were approved by the Trustees on 10th January 2025 and signed on their behalf by:
Derek Price - Trustee
TIMES OF REFRESHING MINISTRIES
Page 5
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
1 ACCOUNTING POLICIES
Basis of Accounting
The financial statements have been prepared under the historical cost convention
Depreciation
Office equipment is depreciated at 20% per annum on a reducing balance basis
Donations
Donations are included in full in the statement of financial activities when received
Incoming resources
All incoming resources are included in the SoFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
- 2
3
| ANALYSIS OF INCOMING RESOURCES Voluntary income Gifts and donations Gift Aid Activities for generating funds Counselling Other incoming resources Grants ANALYSIS OF RESOURCES EXPENDED Charitable activities Course costs Governance costs Salaries and national insurance Pension costs Training Professional Fees Office rent and service charges Heat and Light Stationery & printing Telephone & postage Miscellaneous Removals Insurance Subscriptions Travel and subsistence Computer and IT costs Depreciation Bank fees |
Unrestricted Restricted Total Funds Funds 2024 2024 2024 £ £ £ 6,597 0 6,597 2,172 0 2,172 8,769 0 8,769 3,741 0 3,741 3,741 0 3,741 0 0 0 0 0 0 Unrestricted Restricted Total Funds Funds 2024 2024 2024 £ £ £ 750 0 750 15,419 0 15,419 1,255 0 1,255 5,550 0 5,550 320 0 320 3,422 0 3,422 0 0 0 236 0 236 255 0 255 249 0 249 0 0 0 236 0 236 192 0 192 1,257 0 1,257 130 0 130 68 0 68 82 0 82 28,671 0 28,671 |
Total 2023 £ 8,543 2,419 10,962 3,801 3,801 23,500 23,500 Total 2023 £ 221 13,081 949 1,446 314 3,422 261 117 113 244 0 434 350 571 1,198 85 88 22,673 |
|---|---|---|
TIMES OF REFRESHING MINISTRIES
Page 6
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
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Unrestricted Restricted Total Total
Funds Funds
2024 2024 2024 2023
£ £ £ £
4 PAID EMPLOYEES
Gross wages and benefits in kind including 15,419 0 15,419 13,081
NIC'er 15,419 0 15,419 13,081
The average number of full time equivalent employees in the year:
Charitable Activities 1
Governance 1
5 DONATIONS Unrestricted Restricted Total Total
Funds Funds
2024 2024 2024 2023
£ £ £ £
0 0 0 0
0 0 0 0
6 TANGIBLE ASSETS Office
Equipment
£
At 1st April 2023 14,527
Additions 0
Disposals 0
At 31st March 2024 14,527
DEPRECIATION
At 1st April 2023 14,188
Charge for the year 68
Disposals 0
At 31st March 2024 14,256
NET BOOK VALUE
At 31st March 2024 271
At 31st March 2023 339
2024 2023
£ £
7 CREDITORS: Amounts falling due within one year
Accruals and deferred income 100 100
8 RESTRICTED INCOME FUNDS
Funds held
0
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