COMPANY REGISTRATION NUMBER NI603262
PRACTICAL CHRISTIAN OUTREACH
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023
Charity Number NIC 101146
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
| CONTENTS | PAGE |
|---|---|
| Members of the Board and professional advisers | 1 |
| Directors’ Annual Report | 2 |
| Independent examiner's report to the members | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Statement of cash flows | 10 |
| Notes to the financial statement | 11 |
Page 1
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
Registered charity name Practical Christian Outreach Charity registration number NIC101146 Company number NI603262 Registered office The Brookfield Building Brookfield Industrial Estate Peggys Loaning Banbridge Co. Down BT32 3AP Directors Mr C McSpadden Mr S McSpadden Secretary Mr S McSpadden Independent examiner GMcG Portadown Chartered Accountants 17 Mandeville Street Portadown County Armagh BT62 3PB
Page 2
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
DIRECTORS’ ANNUAL REPORT
YEAR ENDED 31 MAY 2023
The directors have pleasure in presenting their report and the financial statements of the charity for the year ended 31 May 2023. The directors have adopted the provisions of the Statement of Recommended Practice (SORP) ‘’Accounting and Reporting by Charities’’ (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and comply with the charity’s governing document, Companies Act 2006, Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and SORP (FRS 102).
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
THE DIRECTORS
The directors of the charitable company are its trustees for the purpose of charity law.
The directors who served the company during the year were as follows:
Mr C McSpadden Mr S McSpadden
PUBLIC BENEFIT STATEMENT
The directors of Practical Christian Outreach confirm that they have had due regard for the guidance on Public Benefit by the Charity Commission for Northern Ireland and are pleased to report that during the year the charity continued to provide the Public Benefits through programmes and services we offer. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set.
Public Benefits:
The Benefits which flow from Practical Christian Outreach (formerly Youth Outreach) are directed by our Mission to “do what we can, where we are, with what we have, to the people that God put’s in front of us, right now.”
This includes the public within Northern Ireland and specifically within the local community of the Banbridge.
This extends to international regions where we have direct contact with those in need through key individuals who can direct our mission on the ground.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Practical Christian Outreach is a charitable company limited by guarantee and does not have any share capital. It was incorporated on 25[th] May 2010 and registered as a charity with The Charity Commission for Northern Ireland on 16[th] February 2015`.
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PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
DIRECTORS’ ANNUAL REPORT (continued)
YEAR ENDED 31 MAY 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
In the event of the company being wound up members are required to contribute an amount not exceeding £10.
Recruitment, appointment, induction and training
The directors regularly review the requirements of the charity and the possibility of a need for additional directors. Any new directors would be appointed by resolution of a meeting of all the directors passed by a majority of those present. Appropriate training and induction is available to all directors.
Risk management
The directors have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate an exposure to major risks. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors. These procedures are periodically reviewed at least annually to ensure that they continue to meet the needs of the charity.
Organisation Structures
The directors oversee the running of the charitable company.
OBJECTIVES AND ACTIVITIES
The charity's objects are specifically restricted to the following:
-
1) The Charity is established to offer practical benefits to the public within Northern Ireland.
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a) This will have particular focus on, but not limited to, young people who have limited aspirations for their lives.
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b) It will seek to inspire them to engage in activities that promote heathy bodies, minds and spirits.
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c) It will actively engage with them to build their confidence in us and in themselves.
Page 4
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
DIRECTORS’ ANNUAL REPORT (continued)
YEAR ENDED 31 MAY 2023
OBJECTIVES AND ACTIVITIES (continued)
-
2) The Charity is established to also offer practical benefits to people internationally.
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a) This will have particular focus on, but not limited to, people who live in areas of the world where the basic commodities of accommodation, water, food, and sanitation are not available.
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b) Since the invasion of Ukraine by Russia, new projects have been undertaken to help those people who have been displaced by the war and those who are in need whilst defending their country.
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c) It will utilize the skills and capabilities of people who are or have been, embedded in the communities to direct the implementation of sustainable solutions.
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d) These solutions will be focused on short term delivery of significant and impactful projects.
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e) These projects will aim to have ownership for the project imbedded with the community in need as well as the commitment to the management and maintenance of the project once commissioned.
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f) Wherever possible the aim will be to use local labour to undertake the project.
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3) The Charity will engage with people locally to enable the delivery of the various projects. a) This will include people who volunteer their time. b) People who will provide the funds or fund raise. c) People who have a heart to connect with the people in need.
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4) The Objects of the company will be carried out in accordance with its doctrinal basis namely under the Word of God our Father, the Love of our Lord Jesus Christ and the Inspiration of His Holy Spirit, as revealed to man in the Holy Scriptures
Volunteers
The charity is grateful for the unstinting efforts of its volunteers who are involved in all aspects of the charity’s work.
ACHIEVEMENTS AND PERFORMANCE
Total income for the year amounted to £41,250 (2022 - £75,358). Income derived from donations and legacies amounted to £40,355 (2022: £60,908), charitable activities of £nil (2021: ££14,450) and other income of £895 (2022: £nil). Total expenditure for the year amounted to £38,835 (2022 - £54,543). The cost of charitable activities amounted to £38,835 (2022 - £54,543).
The net income for the year amounted to £2,415 (2022 – £20,815).
Reserves policy
It is the policy of the charity to maintain free reserves which matches the needs of the trust, both at the current time and the foreseeable future. This provides sufficient funds to cover running costs which include management, administration and support costs. Free reserves are those unrestricted reserves not designed nor invested in fixed assets which are available for general use.
Funding
The principal funding is from donations.
Page 5
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
DIRECTORS’ ANNUAL REPORT (continued)
YEAR ENDED 31 MAY 2023
PLANS FOR FUTURE PERIODS
During the financial year, the Trustees were pleased to continue with the new Water Drops project. The aim of this project is to create fresh drinking water for rural communities in Kenya. In a year where we all became more aware of the importance of washing our hands thoroughly with clean water, the reality that many rural communities in Kenya don’t even have clean water to drink came sharply into focus. We were delighted to complete our first project to create a sustainable solution for a village using local labour to undertake the project and to maintain it into the future. What is more, the project was completed on time and under budget. We have progressed with at least 4 additional projects.
As part of our sustainability strategy, we plan to enable the two fellow founders of these Water Drops projects to launch their own charitable company to carry on with these projects independently of PCO.
Additionally, we will be engaging with two individuals we have met in Ukraine, one a Church Deacon/Pastor and the other a widow of a volunteer who died defending their country. They will be sharing with us projects that conform with our mission and our values.
RESPONSIBILITIES OF THE DIRECTORS
The trustees (who are also the directors of Practical Christian Outreach (formerly Youth Outreach) for the purposes of company law) are responsible for preparing the Directors’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 ‘‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’’
The law applicable to charities in Northern Ireland requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2015 (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, Charities Act (Northern Ireland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015.
The directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 6
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
DIRECTORS’ ANNUAL REPORT (continued)
YEAR ENDED 31 MAY 2023
In so far as the directors are aware:
-
there is no relevant information of which the charitable company’s independent examiner is unaware; and
-
the directors have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
INDEPENDENT EXAMINER
GMcG Portadown Chartered Accountants has been re-appointed as independent examiner for the ensuing year.
SMALL COMPANY EXEMPTIONS
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
Registered office: Signed by order of the trustees The Brookfield Building Brookfield Industrial Estate Peggy’s Loaning Banbridge Co. Down BT32 3AP
……………………………….
Mr C McSpadden Director
Date: ……………………………
Page 7
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF PRACTICAL CHRISTIAN OUTREACH
YEAR ENDED 31 MAY 2023
I report on the accounts of the charity for the year ended 31 May 2023 as set out on pages 8 to 18.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
The charity's trustees (who are also the directors of Practical Christian Outreach (formerly Youth Outreach) for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
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follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
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state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
I have examined your charity accounts as required under section 65 of the Charities Act any my examination was carried out in accordance with the general Directions given by the charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included 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 charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 386 of the Companies Act 2006
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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.
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That there is further information needed for a proper understanding of the accounts to reached.
INDEPENDENT EXAMINER'S STATEMENT
I can confirm that I am qualified to undertake the examination because I am a registered member of the institute of Chartered Accountants Ireland which is one of the listed bodies.
I have completed my examination and have no concerns in respect of matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
C M McCarter FCA (Independent Examiner) Chartered Accountants Ireland For and on behalf of 17 Mandeville Street GMcG Portadown Portadown Chartered Accountants County Armagh BT62 3PB Date: ..................
Page 8
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MAY 2023
| Total | Total | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Funds | Funds | ||
| Funds | Funds | 2023 | 2022 | ||
| Note | £ | £ | £ | £ | |
| Income from: | |||||
| Donations and legacies | 2 | 25,000 | 15,355 | 40,355 | 60,908 |
| Charitable activities | 3 | - | - | - | 14,450 |
| Other | 8 | 887 | 895 | ||
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total income | 25,008 | 16,242 | 41,250 | 75,358 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Expenditure on: | |||||
| Charitable activities | 4/5 | (20,386) | (18,449) | (38,835) | (54,543) |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total expenditure | (20,386) | (18,449) | (38,835) | (54,543) | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net income/(expenditure) | 4,622 | (2,207) | 2,415 | 20,815 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 36,175 | 2,207 | 38,382 | 17,567 | |
| ------------------------------- | ------------------------------- | ------------------------------- | ------------------------------- | ||
| Total funds carried forward | 40,797 | - | 40,797 | 38,382 | |
| =============================== | =============================== | =============================== | =============================== |
The Statement of Financial Activities includes all gains and losses in the year.
All of the above amounts relate to continuing activities.
The notes on pages 11 to 18 form part of these financial statements.
Page 9
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
31 MAY 2023
| 31 MAY 2023 | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Note | £ | £ | |
| Current assets | |||
| Cash at bank & in hand | 40,797 | 38,382 | |
| Creditors: Amounts falling due within one year | 9 | - | - |
───────── |
──────── |
||
| Net assets | 40,797 | 38,382 | |
═════════ |
═════════ |
||
| Charity funds | |||
| Unrestricted funds | 10 | 40,797 | 36,175 |
| Restricted funds | 11 | - | 2,207 |
───────── |
───────── |
||
| Total funds | 40,797 | 38,382 | |
═════════ |
═══════ |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with Charities SORP (FRS 102).
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2) relating to small companies, and that no member or members have requested an audit pursuant to section 476(1) of the Act.
The directors acknowledge their responsibilities for:
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(i) ensuring that the company keeps adequate accounting records which comply with section 386 of the Act, and
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(ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These financial statements were approved by the board of directors on the ........................ and are signed on their behalf by:
…………………………………………..
Mr C McSpadden
Date:……………………………..
Company Registration Number: NI053755
Page 10
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
STATEMENT OF CASH FLOWS
31 MAY 2023
| 31 MAY 2023 | |||
|---|---|---|---|
| 2023 |
2022 | ||
| Note | £ | £ | |
| Cash flow from operating activities | 13 | 2,415 | 20,815 |
| ------------------------------------ | ------------------------------------ | ||
| Net cash flow from operating activities | 2,415 | 20,815 | |
| ------------------------------------ | ------------------------------------ | ||
| Cash flow from investing activities | |||
| Payments to acquire tangible fixed assets | - | - | |
| ------------------------------------ | ------------------------------------ | ||
| Net cash flow from investing activities | - | - | |
| ------------------------------------ | ------------------------------------ | ||
| Net increase/(decrease) in cash and cash equivalents | 2,415 | 20,815 | |
| Cash and cash equivalents at 1 June 2022 | 38,382 | 17,567 | |
| ------------------------------- | ------------------------------- | ||
| Cash and cash equivalents at 31 May 2023 | 40,797 | 38,382 | |
| =============================== | =============================== | ||
| Cash and cash equivalents consist of - | |||
| Cash at bank and in hand | 40,797 | 38,382 | |
| ------------------------------------ | ------------------------------------ | ||
| Cash and cash equivalents at 31 May 2023 | 40,797 | 38,382 | |
| =============================== | =============================== |
Page 11
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. ACCOUNTING POLICIES
General information and basis of accounting
Youth Outreach is a charitable company limited by guarantee and does not have any share capital. It registered as a charity with The Charity Commission for Northern Ireland on 16[th] February 2015 and it is incorporated in Northern Ireland. The address of the registered office is given in the charity information on page 1 of these financial statements.
The charitable company constitutes a public benefit entity as defined by FRS 102.
Statement of compliance
The financial statements have been prepared in compliance with 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 United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies are set out below. The directors consider that these accounting policies are suitable, have been consistently applied and are supported by reasonable and prudent judgement and estimates.
Fund accounting – unrestricted funds
The company’s unrestricted funds consist of a General Fund which is expendable at the discretion of the directors in furtherance of the charitable objects of the company. The directors may at their discretion designate funds for specific purposes but the designation does not legally restrict the directors’ discretion to apply the funds.
Income recognition
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
Page 12
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
1. ACCOUNTING POLICIES (continued)
Income recognition (continued)
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Directors’ Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Voluntary income received by way of donations and gift is credited to revenue on a receivable basis.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Investment income is interest earned through holding cash at bank. Interest income is recognised when receivable.
Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Where costs cannot be directly attributed to a particular heading they have been allocated to activities on a basis consistent with the use of the resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Value Added Tax
The charity is not registered for VAT purposes, therefore expenditure is shown gross of VAT.
Fixed assets
Tangible fixed assets are stated at cost, or valuation less accumulated depreciation.
Page 13
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
1. ACCOUNTING POLICIES (continued)
Taxation
As a charity, the company benefits from various exemptions afforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid.
Going concern
The financial statements have been prepared on a going concern basis. The Directors consider the basis to be appropriate assuming that the charity has adequate financial support from the bankers and related parties.
2. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations from related parties | 25,000 | - | 25,000 | 38,650 |
| Other donations | - | 15,355- | 15,355 | 22,258 |
───────── |
───────── |
───────── |
───────── |
|
| 41,658 | 15,355 | 40,355 | 60,908 | |
═════════ |
═════════ |
═════════ |
═════════ |
3. Income from charitable activities
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Grant income: | ||||
| RCB | - | - | - | 14,450 |
────────── |
────────── |
────────── |
────────── |
|
| - | - | - | 14,450 | |
══════════ |
══════════ |
══════════ |
══════════ |
|
| Other income | ||||
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Reimbursement of expenses | 8 | 887 | 895 | - |
────────── |
────────── |
────────── |
────────── |
|
| 8 | 887 | 895 | - | |
══════════ |
══════════ |
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4. Other income
Page 14
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
5. Analysis of expenditure on charitable activities
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total Funds | Total Funds | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Water Drops | ||||
| Project expenses | 2,997 | - | 2,997 | 44,611 |
| Donations | 2,640 | 2,640 | - | |
| Travel expenses | - | - | - | 1,967 |
| Office expenses | - | - | - | 297 |
| Foreign currency losses | - | - | - | 163 |
| Wages and salaries | - | - | - | 6,591 |
| Insurance | - | - | - | 502 |
| Sundry | - | - | - | 335 |
| Bank charges | - | - | - | 77 |
| Ukraine | ||||
| Project expenses | 26,512 | - | 26,512 | - |
| Other | ||||
| Donations | 6,500 | - | 6,500 | - |
| Sundry | - | 136 | 136 | - |
| Bank charges | - | 50 | 50 | - |
| ------------------------------------ | ------------------------------- | ------------------------------------ | ------------------------------------ | |
| 38,649 | 186 | 38,835 | 54,543 | |
| ==================================== | ===================8============ | ==================================== | ==================================== |
6. Allocation of support costs
| Basis of | Water | Total | Total | ||
|---|---|---|---|---|---|
| allocation | Drops | Other | 2023 | 2022 | |
| £ | £ | £ | £ | ||
| Governance (note 6) | Cost | - | - | - | - |
| Wages and salaries | Cost | - | - | - | 6,591 |
| Insurance | Cost | - | - | - | 502 |
| Sundry | Cost | - | 136 | 136 | 335 |
| Bank charges | Cost | - | 50 | 50 | 77 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | ||
| - | 186 | 186 | 7,505 | ||
| =========================== | =========================== | ========================== | ========================== |
Page 15
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
7. Governance costs
| Governance costs | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Independent examiner’s fees | - | - | - | - |
| Legal and professional fees | - | - | - | - |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | |
| - | - | - | - | |
| ========================== | ========================== | ========================== | =============================== |
8. Directors’ and key management personnel remuneration and expenses
The key management personnel are considered to be the trustees.
The trustees neither received nor waived any remuneration during the year (2022 - £Nil).
The trustees had expenses reimbursed during the year totalling £3,390 (2022 - £Nil)
9. Staff costs and employee benefits
Total staff costs were as follows:
| Total staff costs were as follows: | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | - | 6,591 | |
| Social security costs | - | - | |
| Pension costs | - | - | |
| ------------------------------- | ------------------------------- | ||
| - | 6,591 | ||
| =============================== | =============================== | ||
| Allocated to: | 2023 | 2022 | |
| £ | £ | ||
| Water Drops | - | 6,591 | |
| ------------------------------------ | ------------------------------------ | ||
| - | 6,591 | ||
| ==================================== | ==================================== |
Page 16
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
9. Staff costs and employee benefits (continued)
Particulars of employees:
The average monthly number of employees including the directors during the year, calculated on the basis of full-time equivalents, was as follows:
| 2023 | 2022 | |
|---|---|---|
| No |
No | |
| Management staff | 2 | 2 |
| Project manager | - | 1 |
| Administration | - | 1 |
| ------------------ | ---------------- | |
| 2 | 4 | |
| =============== | =============== |
No employee received remuneration of more than £60,000 during the year (2022 - Nil).
10. Creditors: Amounts falling due within one year
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Accruals | - | - | ||
| Deferred income | - | - | ||
| ------------------------------- | ------------------------------- | |||
| - | - | |||
| =============================== | =============================== |
11. Unrestricted funds
| Balance at | Balance at | |||
|---|---|---|---|---|
| 1 June 2022 | Income | Expenditure | 31 May 2023 | |
| £ | £ | £ | £ | |
| General funds | 36,175 | 25,008 | (20,386) | 40,797 |
| ============================== | ================================ | =================================== | =============================== | |
| Balance at | Balance at | |||
| 1 June 2021 | Income | Expenditure | 31 May 2022 | |
| £ | £ | £ | £ | |
| General funds | 958 | 42,885 | (7,668) | 36,175 |
| ============================ | ==================================== | ==================================== | =============================== |
Page 17
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
12. Restricted funds
| Balance at | Balance at | Balance at | ||||
|---|---|---|---|---|---|---|
| 1 June 2022 | Income | Expenditure 31 May 2023 |
||||
| £ | £ | £ | £ | |||
| Restricted funds | 2,207 | 16,242 | (18,449) | - | ||
| ============================== | ================================ | =================================== | =============================== | |||
| Balance at | Balance at | |||||
| 1 June | 2021 | Income | Expenditure 31 May 2022 |
|||
| £ | £ | £ | £ | |||
| Restricted funds | 16,909 | 32,473 | (46,875) | 2,207 | ||
| ============================ | ==================================== | ==================================== | =============================== | |||
| Analysis of net assets between | funds | |||||
| As at 31 May 2023 | Tangible | Net current | ||||
| fixed assets | assets | Total | ||||
| £ | £ | £ | ||||
| Unrestricted funds | - | 40,797 | 40,797 | |||
| Restricted funds | - | - | - | |||
| ------------------------------- | ----------------------------- | ------------------------------- | ||||
| Total Funds | - | 40,797 | 40,797 | |||
| =============================== | ========================== | =============================== | ||||
| As at 31 May 2022 | Tangible | Net current | ||||
| fixed assets | assets | Total | ||||
| £ | £ | £ | ||||
| Unrestricted funds | - | 36,175 | 36,175 | |||
| Restricted funds | - | 2,207 | 2,207 | |||
| ------------------------------- | ----------------------------- | ------------------------------- | ||||
| Total Funds | - | 38,382 | 38,382 | |||
| =============================== | ========================== | =============================== | ||||
| Reconciliation of net income to net cash flow from operating activities | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Net income for year | 2,415 | 20,815 | ||||
| Increase/(decrease) in creditors | - | - | ||||
| ---------------------------------------- | ---------------------------------------- | |||||
| Net cash flow from operating activities | 2,415 | 20,815 | ||||
| ====================================== | ====================================== |
13. Analysis of net assets between funds
14. Reconciliation of net income to net cash flow from operating activities
Page 18
PRACTICAL CHRISTIAN OUTREACH COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MAY 2023
15. Related party transactions
CMS Global Limited and GWA Supplies Limited, both companies limited by guarantee are deemed to be related as they have the same director as one of the directors of Practical Christian Outreach.
During the year, the charity received donations of £25,000 (2022: £36,700) from GWA Supplies Limited.
In addition, the Trustees have contributed a total of £NIL (2022: £1,950) to the charity.
16. Company limited by guarantee
The company is limited by guarantee and has no share capital.
On a winding up members may be required to contribute a maximum of £10.