AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Charitable activities
3,038
4,231
3,038
5,275
7, 798
5, 765
Totsl income
7,269
8,313
13,563
Expenditure on:
Charitable activities
7,503
8,547
16,287
Totsl expenditure
7,503
8,547
16,287
Net movement in funds
(234)
1234)
(2, 724)
Reconciliation of funds".
Total funds brought forward
Net movement in funds
234
(280)
1234
(46)
1234)
2,678
(2, 724)
Totsl funds carried fonNard
234
1514
1280)
(46)
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
Page 6

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: N1043515
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Current assets
Cash at bank and in hand
561
763
561
763
Creditors.. amounts falling due within one
year
1841)
(809)
Net current liabilities
1280)
(46)
Totsl assets less current liabilities
1280)
(46)
Net liabilities excluding pension asset
1280)
(46)
Totsl net assets
1280)
(46)
Charity funds
Restricted funds
11
234
234
Unrestricted funds
1514)
(280)
Total funds
(280)
(46)
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
T G Wilson
Trustee
Date:
1210312024
The notes on pages 8 to 14 form part of these financial statements.
Page 7

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General information
African Enterprise (Ireland) Limited is a company limited by guarantee and is incorporated and registered
in Northern Ireland under Company Registration Number N1043515.
The Registered Office is Gordon Street Mews, 27-29 Gordon Street. Belfast. Antrim, BT12LG.
The principal activity of the charitable company is the evangelisation of the cities of Africa through word
and deed.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
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), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
African Enterprise (Ireland) 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.
2.2 Income
All income is recognised once the Company has entidement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third paty. it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support costs which are not attributable to a single activity are apportioned be￿een those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitsble activities is incurred on directly undertaking the activities which further the
Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 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 or similar
account.
Page 8

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies {continued)
2.5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or seNices it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material. the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.6 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objects'ves of the Company and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Income from donations and legacies
Unrestricted
funds
2023
Total
funds
2023
Donations
3,038
3,038
Unrestricted
funds
2022
Total
funds
2022
Donations
7, 798
7, 798
Page 9

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from charitable activities
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Evangelism throughout Africa
1,044
4,231
5,275
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Evangelism throughout Africa
1,022
4, 743
5, 765
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2023
2023
Total
2023
Governance Costs
General Charitable Activities
1,055
6,448
1,055
7,492
1,044
1,044
7,503
8,547
Restricted Unrestricted
funds
funds
2022
2022
Total
2022
General Charitable Activities
937
15,350
16,287
Page 10

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure by activities
Support
costs
2023
Total
funds
2023
Governan￿ Costs
1,055
7,492
1,055
7,492
General Charitable Activities
8,547
8,547
Support
costs
2022
Total
funds
2022
General Charitable Activities
16.287
16,287
Independent examiner's remuneration
2023
2022
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts
1,057
944
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).
Creditors: Amounts falling due within one year
2023
2022
Accruals and deferred income
841
809
Page11

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Financial instruments
2023
2022
Financial assets
Financial assets measured at fair value through income and expenditure
561
764
Financial assets measured at fair value through income and expenditure comprise of cash at bank.
11.
Statement of funds
Statement of funds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Income Expenditure
Unrestricted funds
General Funds - all funds
1280)
7.269
(7,503
1514)
Restricted funds
Restricted Funds- all funds
234
(1,044)
234
Total of funds
(46)
8,313
(8,547
1280)
Statement of funds - prior year
Balance at
31
December
2022
Balance at
1 January
2022
Income Expenditure
Unrestricted funds
General Funds - all funds
2, 529
12,541
(15,350)
(280)
Restricted funds
Restricted Funds- all funds
149
1,022
(937)
234
Totsl of funds
2,678
13,563
(16,287)
(46)
Page 12

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Summary of funds
Summary of funds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Income Expenditure
General funds
1280)
234
7,269
(7,503
(1,044
1514)
234
Restricted funds
(46)
8.313
(8,547
1280)
Summary of funds - prior year
Balance at
31
December
2022
Balance at
l January
2022
Income Expenditure
General funds
Restricted funds
2, 529
149
12,541
1,022
(15,350)
(937)
(280)
234
2,678
13,563
(16,287)
(46)
13.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Current assets
234
327
561
Creditors due within one year
(841)
{841)
Total
234
1514)
{280)
Page 13

AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Current assets
234
530
764
Creditors due within one year
(809)
(809)
Total
234
(279)
(45)
14. Related party transactions
There were no related party transactions in the year.
15. Controlling party
The controlling party of the company is considered to be the Board of Trustees.
Page 14