an Re Istratlon No. Nl 620817 R Istratlon No. 101033 Chari TheA (Compa airos Enterprises k Community Gardens y Limited by Guarantee) Annu l Financial Statements for the nded 31st March 2024 Year Pre ared B Peter E O'Hare & Co Chartered Accountants 32 Hlgh Street Ballynahlnch Co Down BT24 8AB
Kairos Enterprises Company Limited by Gua Financial Statements Year Ended 31st March 2 ntee Page Trustees, Annual Repo (including Trustees Stra gic Report) Independent Examiners eport to Trustees Statement of financial a (Including Income & Exp ivities ndrture Account) Statement of Financial P sition Notes to the Financial S ements 8-13
Kairos Enterprises Company Limited by Gua Trustees, Annual Report (Including Trustees Strate For the Year Ended 31st M ntee ic Report) rch 2024 The trustees, who are also the dir unaudited financial statements of ctors for the purposes of company law. present their report and the e charty for the year ended 31 st March 2024. Reference and adminlstratlve d alls Reglstered charfty name iros Enterprises Charlty reglstration number 01033 Company reglstratlon number 1620817 Prlnclpal office & reglstered offlce Corrigs Road ewcastle Down 33 OJZ Trustees r David Henry Baxter Robert Winston Bell Peler Henry Barr Jill Hamilton Stephen Barthorpe Independent examlner er E O'Hare artered Accountsnt High Street Ilynahinch Down 24 8AB Structure, governance and mana Kairos Enterprises is a company lim The day-to-day operation of the ch the TrusteesNolunteers, and opera support, mentoring and volunteering The trustees, annual report (al>3ve). 10th ctober 2024 and ned by: me ed by guarantee and therefore has no share capital. ty is carried out by the empfoyees, which in turn is overseen by s from The Ark Community Gardens. This facilty provides help, pportunities for a wide range of individuals and organisations. lus the Annual Trustees Strategic Report were approved on the Baxter Trustee
Kalro8 Enterprises Company Limited by Gua Trustees, Annual Report ( Year Ended 31st March 2 ntee corporatlng the Dlrector's Report) The 2023-2024 financial year w many new volunteers joining ou ahvays encouraging to see the continualty reminding ourselves our community through the exa upheld as the fundamental princ Accordingly, it is most encourag support they have experienced fr the resumption of the Men's break of challenges, disappointments, h times we can feel very lonety and Ark who genuinely care about th our hand. On the staff front, we had a sig tendered his resignation to enabl Christian Conference Centre. The his 2 IA years wrth us and wish hi the family call wtth us regularly. T Director. Joanna was well known volunteer. She has been very enth for individuals wth a continual desi We have also seen some changes to resign from the Board, we also fi hi5 massive input to our Board ove btt of wisdom when required! It is al have joined the Board, Jill Hami becoming a member of Board does On behalf of the Board. could I commitment to the Ark, and for the blessed by the team and the examp On the financial front our accounts an overall surplus over the year of j reduce our relian on extemal fund It is with this in mind that we made t of opening falls wtthin the 202312 Preparations for this new venture d redevelopment of thewting shed i construct a new potting shed and g Joel and his teams have again been Construction of new tool sh Extension and renovation of Having taken feedback from in the farm shop and custom The childn'S Play Area h younger visitors. We had a very success1 C our volunteers. Our growintyharvesbnOre- and quantity of our produce The old Pi8eon Club building developed a beautiful fronta again an exceptionally busy year in Ark Communty Gardens, wtth team and many signrficant developments on the site. Whilst it is ysical developments and improved faciltties we. as a Board, are the core mission of The Ark - 'To demonstrate the love of God to le of Jesus.. As the stte gets busier, ensuring that this mission is l of our organisation drives the deasions taken by the Board. g to hear so many volunteers testfy about the fellowship and being part of our Ark family. It has been very encouraging to see sts and the Ladies craft groups & outs'ngs. We all experien times th issues, bereavements and relationship drfficuities. During such t is such a reassurance that we have an earthly family wtthin The e difficutt times and a heavenly father who is reaching out to hold ificant change during the year, when our Director, John Nixon, him to take up a new post as manager of Castlewellan Castle oard would like to thank John for his leadership and loyaty over God's richest blessing in his new role. It is lovely to see him and Board subsequently appointed Joanna Mccall to the position of us all as a member of the Board and a very faithful and busy siasticalty recetved ty stsff and volunteers, combining a real care to expand the work of the organisation. our Board. Following Joanna's appointment as Director, she had lty allowed John Dinnen to retire and would like to thank John for the past few years. He has agreed that we can still use him for a o a joy to report that, since our last report, 3 new Board Members n, Peter Barr and Stephen Barthorpe, who have realised that ot exempt you from weeding etc on sttel ain thank our staff team for their hqrd work. dedication and ve and care that they show towards our volunteers. We truly are they exhibit to us all. ow a significant increase in both our income and outgoings, with t over £2000. As stated in our reports in the past. we are keen to rs- a source of income that can be unpredictable and unreliable. big decision to open a coffee shop in our log cabin. As the date 24 financial year we will comment more in our next report. however impact significantly on operations this year, wrth the to a new volunteer meeting room and kitchen. We also plan to house beside the chicken enclosure. xceptionaity busy onsite with various projects as follows.. in the garden field. e Men's Shed facilities. ur volunteers, we have signfficanty expanded the items stocked feedback has been very posttive. been completed and fenced in. much to the delight of our istmas Fair onsrte, which again require(I massive help from all ing teams have again been exceptionalty busy and the qualty 'nues to develop. as received a new roof & facelift and our flower exports have for our customers to enjoy.
Kairos Enterprises Company Limited by Gua Trustees, Annual Report ( Year Ended 31st March 2 ntee corporating the Director's Report) Continued......... Finally, could we again thank o year. Whilsl it is very encouragi who come ihrough our gales are were embarking on some fairly coffee morning to provide info encourage all vojunteers to provi fanlasiic i&qm of volunteers for their incredible support during the to see the developments onsile, we truly do recognise that those hai the Ark is all about. a Board we were conscious thai we ajor changes to our site and in March we organised a volunteer's ation on Ihe plans and seek feedback and suggestions. We would us wilh your views on how wc can beller deliver on OUT mission. With 811 bumility and gentlen maintain the unity of the spirit i with patlence, bearing with one another in love, eager to the bond of peac& Ephesians Ch.4 V2-3 Board of Directors rustees
Kairos Enterprises Company Limited by Gua Independent Examiner's For the Year Ended 31st ntee port to the Trustees of Kairos Enterprises rch 2024 I report to the truslees on my charity,) for the year ended 31 st amination of the financial Slatements of Kairos Enterprises (Ihe rch 2024. Responsibllitles and basls of re As the trustees of the company respjnsible for the preparation o Charities Act (Northern Ireland) 2 You are satisfied that the accoun audrted and have chosen instead t Having satisfied myself that the a of the 2006 Act and are eligible fo the charty's financial statements examination I have followed the Ireland under section 65(9) (b) of th nd also its directors for the purposes of company law) you are the financial statements in accordan wrth the requirements of 08 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,). of the company are not required by charrty or company law to be have an independent examination. unts of the company are not required to be audited under Part 16 independent examination, I report in respect of my examination of carried out under section 65 of the 2008 Act. In carrying out my neral Directions given by the Charty Commission for Northern 2008 Act. Independent examlner's Stateme I have completed my examination. with my examination giving me cau accounting records were 2006 Act,. or the financial statements the financial statements the 2006 Act other than is not a matter consider the financial statements principles of the Statem charities applicable to c Reporting Standard appli I confirm that there are no other m understsnding of the accounts to be confinn thai no matters have wme to my attenb'on in connection e to believe that in any material respect.. ot kept in respect of the charty as required by section 386 of the not accord with those records. or o not comply wrth the accounting requirements of section 396 of y requirement that the accounts give a 'true and fairf view which as part of an independent examination: or have not been prepared in accordance with the meththjs and nt of Recommended Practice for accounting and reporting by rtties preparing their accounts in accordance with the Financial ble in the UK and Republic of Ireland (FRS 102). ers to which your attention should be drawn to enable a proper eached. eter E O'Hare - ndependent Examiner Peter E O'Hare & Co Chartered Accountants 32 Hlgh Street Ballynahlnch Co Down BT24 8AB Date: The nots8 on pag 6 to 12 fomi part of th•M fln•nclal 8t8t•ments.
Kairos Enterprises Company Limited by Gua Staternent of Flnancial Ac (Including Income & Expe For the Year Ended 31st M ntee vities diture Account) rch 2024 2024 Restricted funds Totsl funds Total funds Unrestricted funds 2023 Not• Income and endowments Donations and legacies Charvtable activities 13,112 76.875 89,987 99,985 161.499 161,499 55,489 Investment income 572 572 180 Totsi income 175,183 76.875 252,058 155,654 Expendlture Expenditure on raising frjnds.. Costs of raising donations an legacies 92,881 Expenditure on charitable activrties 9,10 200.028 76,875 276,903 60,743 Totsl expenditure 76,875 277,559 153,624 Net income/(expenditure) and ne movemenl In funds (25,501) (25,501) Reconclllatlon of funds Total funds brought forward 106,623 49.359 155,982 153.952 Total funds carrled forward 81,122 49,359 130,481 155,982 The statement of flnanclal actl All Income and e tles Includes all galns and losses recognlsed In Ihe year. pendlture derlve from continulng activities. Th• notu on pag 6 to 12 fomi part of Ihe8• ilnanclal stat•m•nts.
Kairos Enterprlses Company Limited by Gua Statement of Flnancial P As at 31st March 2024 antee ition 2tr24 2023 Not• Fixed Assets Tangible Fixed Assets Current Assets Debtors & Prepayments Cash at Bank 11 104.542 111,593 12 2.161 32,873 566 47,948 35.034 48,514 Credltors: amounts falllng due thln one year 13 (4,124) Net Current Assets 25,9 Total Assets less Current UabS1 les 130.481 155.982 Net Assets at 31st March 130,481 155,982 Funds of the Charlty Restricted funds 49,359 49,359 Unrestricted funds 81,122 106,623 Totd Charlty Funds at 31st Mar 14 130,481 155,982 For Ihe year ending 31st March 2 477 of the Companies Act 2006 rel Directors, responsibilities: 4 the charty was entitled to exemption from audit under section ting to small companies. The members have not requi year in question in accordanc the company to obtain an audit of rts financial statements for the with section 476. The directors acknowledge with respect to accounting r These financial ststements have companies subject to the small co These financial statements were October 2024, and are signed by.. ir responsibiliti'es for comptying with the requirements of the Act rds and the preparation of financial statements. een prepared in accordance with the provisions applicable to anies, regime. pproved by the trustees and authorised for issue on the 10th Mr Dav Trust Baxter The note8 on pag 6 to 12 fomi part ol th¢80 flnanclal statements.
Kairos Enterprises Company Limited by Gu Notes to the Flnancial St Year Ended 31st March 2 antee ements 24 General Informatlon The charty is a public ben Northern Ireland and a regi Corrigs Road. Newcastie, entty and a prtvate company limited by guarantee, registered in ered charty in Northern Ireland. The registered office address is 2A unty Down, BT33 OJZ. Statement of compllance These financial statements Reporting Standard appli Recommended Practice ap Financial Reporting Standa SORP (FRS 102)) and the have been prepared in compliance wrth FRS 102. 'The Financial ble in the UK and the Republic of Ireland,. the Statement of licable to charities preparing their accounts in accordance wtth the applicable in the UK and Republic of Ireland (FRS 102) (Charities mpanies Act 2006. Accountlng pollcles Basls of preparatlon The financial statements h revaluation of certain financ value through income or ex e been prepared on the historical cost basis. as modified by the l assets and liabilities and investment properties measured at fair nditure. Going concern There are no material unce inties about the charrtls ability to continue. Fund accountlng Unrestricted funds are avail charty's purposes. ble for use at the discretion of the trustees to further any of the Designated funds are unrest commitment. ed funds earmarked by the trustees for particular future project or Restricted funds are subj through the terms of an ap endowment funds. to restrictions on their expenditure declared by the donor or I, and fall into one of two sub-classes.. restricted income funds or
Kairos Enterprises Company Limited by Gua Notes to the Financial Sta Year Ended 31st March 2 ntee ments (contthu•d) Accountlng pollcle8 (¢onti Incomlng resources All incoming resources are passed to the charty. it is will flow to the charty and are applied to particular cat cluded in the sLqtement of financial activtties when entitlement has robable that the economic beneftts associated wrth the transaction e amount can be reliably measured. The following specrfic policies ories of income: income from donation grft, receipt is probable or grants is recognised when there is evidence of entitlement to the nd its amount can be measured reliably. legacy income is re ised when receipt is probable and entitlement is established. income from donated impractical to measure or the estimated res accounts when re1V the contribution of gen ds is measured at the fair value of the goods unless this is eliabty. in which case the value is derived from the cost to the donor le value. Donated facilities and service5 are recognised in the rf the value can be reliably measured. No amounts are included for ral volunteers. income from contra contracted service. T requirement for it to it may be regarded as for the suppty of sep4ices is recognised with the delivery of the s is classrfied as unrestricted funds unless there is a contractual spent on a particular purpose and returned rf unspent. in which case Resources expended Expenditure is recognised VAT which cannot be full financial actNities to which ' an accruals basis as a liabilty incurred. Expendtiure includes any recovered, and is dassified under headings of the statement of relates: expendtture on raisi non-charitable trading funds includes the costs of all fundraising activities, events, ctNtties, and the sale of donated goods. expenditure on cha actNtties that further ' support costs and activtties. le activities includes all costs incurred by a charity in undertaking charitable aims for the benefit of Its beneficiaries, including those relating to the governance of the charty apportioned to charitable other expenditure incl charty nor part of its e des all expenditure that is neither related to raising funds for the penditure on charilable activities. Ail costs are allocaled to e attributable to a single activ between the activities they enditure categories reflecting the use of the resource. Direct costs are allocated directy to that acttvty. Shared costs are apportioned ntribute to on a reasonable, justifi'able and consistent basis. Operatlng leases Lease payments are recog sed as an expense over the lease term on a straight-line basis. The aggregate benefft of lease'lncenttves is recognised as a reduction to expense over the lease term, on a straight-line basi
Kairos Enterprises Company Llmited by Guapntee Notes to the Financial Stakments {contthu•d) Year Ended 31st March 2 Accountlng policles {¢ontln Tanglble assets Tangible assets are inttial accumulated depreciation amounts are recorded at accumulated depreciation a recorded at cost, and subsequentty stated at cost less any nd impairment losses. Any tangible assets carried at revalued he fair value at the date of revaluation less any subsequent subsequent accumulated impairment losses. ount of an asset as a result of a revaluation, is recognised in other unless rt reverses a charge for impairment that has previously been hin the statement of financial activities. A decrease in the carrying of revaluation, is recognised in other recognised gains and losses, previous revaluation gain. in which case the loss is shown within sses on the statement of financial actFVFties. An increase in the carying recognised gains and losses recognised as expenditure amount of an asset as a res except to which it oftsets a other recognised gains and I Depreclation Depreciation is calculated s value, over the useful econo as to wrrte off the cost or valuation of an asset, less rts residual ic lrfe of that asset as follows.. Freehold propety Computer Equipment 10% reducing balance 25% reducing balan Impalrnient of flxed assets A review for indicators of im amount being estimated wh recoverable amount, the ass possible reversal at each re irment is carried Ixrt at each reporting date, wtth the recoverable re such indicators exist. Where the carrying value exceeds the t is impaired accordingly. Prior impairments are also reviewed for rting date. For the purposes of impai amount of an individual a cash-generaling unit to whi identrfiable group of assets independent ol the cash inflo ent tesling, when it is not 1b18 to estimate the recoverable et. an estimate is made of the recoverable amount of the 'h the asset belongs. The cash-generating unit is the smallest at includes the asset and generates cash inflows that largely from other assets or groups of assets. will, the goodwill acquired in a business combination is, from the ach of the cash-generating units that are expected to benefit from on, irrespective of whether other assets or liabilities of the charty For impairment lesting of g acquisition date, allocated to the synergies of the combina are assigned to those unrts. Flnanclal Insiruments A financial asset or a financia contractual provisions of the i liabilty is recognised only when the charty becomes a paty to the trument. Basic financial instruments ar any related transaction costs. inrtialty recognised at the amount receivable or payable including
Kairos Enterprises Company Limited by Gu antee Notes to the Flnancial Stqtements (conthu•d) Year Ended 31st March 2 Accounting pollcles (con Flnanclal instruments { Current assets and curre consideration expected to subsequentty measured at Where investments in sha reliably. the investment is recognised in income and e cost less impairment. Other financial instruments, payment for an asset is def that is not a market rate, in payments discounted at a m Other financial instruments recognised in the statement designated hedging relations Financial assets that are me of impairment at the end of e impairment Ioss is recognis activities in which the inrtial g For all equty instruments individualty signrficant. these either assessed individualty or Any reversals of impairment resutt in a carrying amount of have been had the impairment t liabiltties are subsequently measured at the cash or other paid or received and not dis(x)unted. and Debt instruments are ortised cost. are publicly traded or their fair value can otherwise be measured ubsequently measured at fair value wrth changes in fair value nditure. All other such investments are subsequently measured at ncluding derivatives. are inttially recognised at fair value, unless red beyond normal business terms or financed at a rate of interest hich case the asset is measured at the present value of the future ket rate of interest for a similar debt instrument. are subsequenty measured at fair value. with any ohanges financial activities. with the exptIon of hedging instruments in a ured at cost or amortised are reviewed for objective evidence ch reporting date. If there is objective evidence of impairment, an under the appropriate heading in the ststement ot financial was recognised. gardless of signfficance. and other financial assets that are e assessed individually lor impairment. Other financial assets are rouped on the basis of similar credrt risk characteristics. recognised immediately, to the extent that the reversal does not he financial asset that exceeds what the carrying amount would ot previousty been recognised. Umlted by guarantee Kairos Enterprises is a compa limrted by guarantee and therefore has no share capital. Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons & Grant Fundlng Restrlcted Funds 13.112 76,875 89,987 Unrestricted Funds Restricted Totsi Funds Funds 2023 Donatlons Restricted Funds 24,552 75,433 99.985
Kairos Enterprises Cornpany Limited by Gua Notes to the Flnancial St Year Ended 31st March 2 antee ements (conthJu•d) Charitable actlvltles Unrestrlcted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Grants, Fundraising. Busine Organisations Income and 174,611 174.611 55,489 55.489 Investment Income Unrestricted Totsl Funds Unrestricted Totsl Funds Funds 2Q4 Funds 2023 Bank Interest Received 572 5T2 180 180 Costs of ral8lng donatlons nd legacles Unrestrlcted Restricted Totsl Funds Funds Funds 2024 Costs of ralslng Funds l Do atlons Unrestricted Funds Restricted Total Funds Funds 2023 Costs of raising Funds l Dona ons 43.182 49,699 92,881 Expendlture on charltsblo a vitles by fund type Unrestrlcted Restricted Total Funds Funds Fund8 2024 Actlvltle8- Farm Shop & Co eelcafe 76.875 276,903 Unrestricted Funds Restricted Total Funds Funds 2023 Activrties - Farm Shop 41,885 18,858 60,743
Kairos Enterprises Company Limited by Gua Notes to the Financlal Statements (conthu•d) Year Ended 31st March 2024 antee 11. Tanglble Flxed Assets Freehold property Equlpm•nt Total Cost Balance at 1 st April 2023 Additions 159.948 3,645 4.158 163.593 4.158 Balance at 31st March 202 159,948 167,751 Depreclatlon Balance at 1st April 2023 Charge for the year 49,899 10,824 2,100 386 51,999 11.210 Balance at 31st March 202 60,723 63,209 Carrylng amount Balance at 31 st March 202 99225 5,317 104,542 Balance at 31 st March 2023 110,049 1,545 111,594 12. Debtors 2024 2023 Trade debtors Prepayments and accrued in 2,161 566 me Balance at 31 st March 2,161 13. Credllors." amounts falllng e withln one year 2024 2023 Trade creditors Accruals and deferred incom 8,315 3.344 Balance at 31st March 9.095 4,124