## 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** **----- Start of picture text -----**
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
**----- End of picture text -----**