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2025-03-31-accounts

TIMES OF REFRESHING MINISTRIES

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

TIMES OF REFRESHING MINISTRIES

FOR THE YEAR ENDED 31ST MARCH 2025

TABLE OF CONTENTS PAGE
Trustees Report 1
Independent Examiners Report 2-3
Statement of Financial Activities 4
Balance sheet 5
Notes to the Accounts 6-7

TIMES OF REFRESHING MINISTRIES

Page 1

FOR THE YEAR ENDED 31ST MARCH 2025

TRUSTEE REPORT

The Trustee's present their report and the financial statements of the charity for the year ended 31 March 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Number: NIC100577 Registered Office: 35 Church Street, Magherafelt Co. Londonderry BT45 6AP

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 £14,125 for the year, in turn reducing the reserves available to £5733. The total income remained steady for the year, including £1080 in Grants.

In line with our "Plans for the Future Periods" outlined within our financial report for the year ending 31st March 2024, the Trustees carried out a detailed review and as a result implemented an expenditure reduction plan, starting April 2025. The expenditure for the year ending 31st March 2025 remained at a similar level to the previous financial year. The level of reserves remaining at 31st March 2025, along with anticipated non-grant income, requires the Trustees to carry out regular monthly forecasting, with the aim of ensuring reserves remain at a sufficient level to cover all costs, should the Charity need to wind up within 2025.

ACHIEVEMENTS AND PERFORMANCE

Throughout the past year we have maintained both client numbers and counselling hours.

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. Close monitoring of the financial status of the Charity will be carried out, 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 23rd January 2026 :-

D. Price

Accounting &TaX Delivering a personal service - because every business is unique Professional, Practical & Proactive with your tax affairs

Independent examiner’s report to the trustees of Times of Refreshing Ministries | report on the accounts of the Trust for the year ended 31 March 2025, which are set on the following pages.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts in accordance with the Charities Act (Northern lreland) 2008.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters.

—

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Accounting &TAX
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Delivering a personal service - because every business is aloes Professional, Practical & Proactive with your tax affairs

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

Which, gives me reasonable cause to believe that in any material respect the requirements:

Wuimc \Wkepieces 2 Cala. Signed: on behalf of O’Boyle ACCOUNTING -nmsmrreneseorrnnn J" foo resivesere Name and Pos!ition WW i WUGHT pone. Urver Accounting RTA O'Boyle Accounting & Taxation Ltd 5 = il: i | ounting.com 4 Bingham Street, Bangor, Co-Down, BT20-5DW | Phone: (028) 9146 9054 | E-mail: sities eacc g Website: www.oboyleaccounting.com | @ @oboyleaccounting ownq@amm PROFESSIONALADVISORGerry O'Boyle ACMA. seari ae uate-G, O’Boyle,coneL. Wright,sisnant M. business. O'Boyle. Company Licenced by registered CIMA; to workNo. No. Ni601180 inNl practice: - certificatees No. 00466

Page 4

TIMES OF REFRESHING MINISTRIES

STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2025

STATEMENT OF FINANCIAL ACTIVITIES
FOR YEAR ENDED 31 MARCH 2025
INCOMING RESOURCES
Incoming resources from generating funds:
Voluntary income
Activities for generating funds
Investment income
Other incoming resources
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable activities
Goverance costs
Other resources expended
TOTAL RESOURCES EXPENDED
NET [OUTGOING] INCOMING RESOURCES
THE YEAR
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Notes Unrestricted
Restricted
Total
Funds
Funds
2025
2025
2025
9,960
0
9,960
3,303
0
3,303
95
0
95
1,080
0
1,080
14,437
0
14,437
0
0
0
28,562
0
28,562
0
0
0
28,562
0
28,562
-14,125
0
-14,125
-14,125
0
-14,125
19,858
0
19,858
5,733
0
5,733		 Total
2024
8,769
3,741
78
307
2
3
FOR
12,895
750
28,671
0
29,421
-16,526
-16,526
36,384
19,858

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 Page 5
BALANCE SHEET AS AT 31 MARCH 2025 Unrestricted Restricted Total Total
Funds Funds
Notes 2025 2025 2025 2024
FIXED ASSETS
Tangible Assets 6 217 0 217 271
CURRENT ASSETS
Debtors: Amounts due within 1 year 0 0 0 0
Cash at bank and in hand 5,616 0 5,616 19,687
5,616 0 5,616 19,687
CREDITORS:
Amounts falling due within one year 7 100 0 100 100
NET CURRENT ASSETS 5,516 0 5,516 19,587
TOTAL ASSETS LESS CURENT LIABILITIES 5,733 0 5,733 19,858
FUNDS OF THE CHARITY
Unrestricted Funds 5,733 0 5,733 19,858
Restricted Income Funds 0 0 0 0
TOTAL FUNDS 5,733 0 5,733 19,858

These financial statements were approved by the Trustees on 23rd January 2026 and signed on their behalf by:

Derek Price - Trustee

Page 6

3

TIMES OF REFRESHING MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

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

ANALYSIS OF INCOMING RESOURCES

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
Redecoration
Hospitality
Insurance
Subscriptions
Travel and subsistence
Computer and IT costs
Depreciation
Miscellaneous
Bank fees		 Unrestricted
Restricted
Total
Funds
Funds
2025
2025
2025
£
£
£
8,058
0
8,058
1,901
0
1,901
9,960
0
9,960
3,303
0
3,303
3,303
0
3,303
1,080
0
1,080		 Total
2024
£
6,597
2,172
8,769
3,741
3,741
0
1,080
0
1,080		 0
Unrestricted
Restricted
Total
Funds
Funds
2025
2025
2025
£
£
£		 Total
2024
£
0
0
0		 750
14,195
0
14,195
1,255
0
1,255
2,812
0
2,812
220
0
220
3,962
0
3,962
553
0
553
82
0
82
132
0
132
1,756
0
1,756
818
0
818
264
0
264
199
0
199
2,158
0
2,158
0
0
0
54
0
54
20
0
20
82
0
82
28,562
0
28,562		 15,419
1,255
5,550
320
3,422
0
236
255
0
0
236
192
1,257
130
68
249
82
28,671
TIMES OF REFRESHING MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Unrestricted
Restricted
Total
Funds
Funds
2025
2025
2025
£
£
£
4
PAID EMPLOYEES
Gross wages and benefits in kind including
15,450
0
15,450
NIC'er and pension
15,450
0
15,450
The average number of full time equivalent employees in the year:
Charitable Activities
1
Governance
1
5
DONATIONS
Unrestricted
Restricted
Total
Funds
Funds
2025
2025
2025
£
£
£
0
0
0
0
0
0
6
TANGIBLE ASSETS
Office
Equipment
£
At 1st April 2024
14,527
Additions
0
Disposals
0
At 31st March 2025
14,527
DEPRECIATION
At 1st April 2024
14,256
Charge for the year
54
Disposals
0
At 31st March 2025
14,310
NET BOOK VALUE
At 31st March 2025
217
At 31st March 2024
271
2025
£
7
CREDITORS: Amounts falling due within one year
Accruals and deferred income
100
8
RESTRICTED INCOME FUNDS
Funds held
0		 Page 7
Total
2024
£
15,419
15,419
Total
2024
£
0
0
2024
£
100