Chartered Accounlanls and Registered Auditors REGISTERED COMPANY NUMBER: N1061195 (Northern Ireland) REGISTERED CHARITY NUMBER: 101162 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR SOW 2 REAP TRUST Patton Rainey and Associates Chartered Accountants 6 East Bridge Street Ea1&kIll54 ulated for È rang8 of investment business activilies in Registered lo carry out au the UniledQ&gknwMd. Iitute ol Charte Aecounlants in Ireland B T74 7BT £X4WTERED
SOW 2 REAP TRUST coNrENTS OF THE FINANCIAL STATEMEwrs for the Year Ended 31 DECEMBER 2022 Page Report of the Trustees I to 3 Independent Examiner's Report Slatement of Financial Activities Balance Sheet Notes to the Fillallci21 Statements 8 to 13
SOW 2 REAP TRUST REGISTERED NUMBER: N1061195 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the fiThancxal ststements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities". Statement of Liecommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportillg Standard applicable in the UK and Republic of treland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITtES Objectives and ain The charity's objectives are for the public benefit as set out in the Articles of Association and are restricted to the following: (a) The advancement of the EvaThgelical Christian Faith. (b) The relief of povety, hunger and sickness; (c) The advancement of medical knowledge" (d) the advancetnent of education by way of assisting children and adults to receive Bible lessons. The beneficiaries from the Trust are Individuals and OrganisatioDS who are advancing the Chrfftstian religion around the world through various means supported by the Tnt. Not only does the Trust give fllkancial support to those involved in missions in various countrtes, but also printed Bible resources to assist individuals and groups to leam more about the Christian faith. A¢hievements and Performanee BibletimelNewlife/Gleaners Resources: In 2022 Sow2Reap distributed over 175,000 Bibletime lessons to approx. 23,500 users in their homes and s¢hools. We have many volunteers who assist in delivery, grading and marketing the resources. The public bad oppornEnity to learn more about Cl)ristianity. Schools and parents benefitted from a free RE resource for their pupils and children. Sow2Reap also supply the resources to Sdents in other countries e.g. Ghan Nigerii UAE, Zambia etc. Vtsits are nornlally made to schools to conduct a school assembly atld distrtbute prizes for approx. 23,500 children along with something for the teachers as an encouragemellt. Time does not always permit to conduct an assetnbly, in these cases we deliver the prizes to the schools. For those who complete the Bibletime lessons at home a public prize event was held this year in Knockconny Baptist Church (Kindly granted) to reward sttLdents with prizes. Home Sdents decreased slightly due to children completing the lessons in schools. Postal Bible School Catnp= It w&s wonder1 to be able to arrange our PBS residential camp for both Clwistians and Non-cl1stlaTrS aged 10-18. Approximately 130 attended including leaders. These Campers came from various countries e.g. Frdnce. Spain. Ireland etc and some were sponsored. They benefit from teaching on the Christian faitK teamworK Social skills and other skill sets. The leaders benefit from Vario training including safeguarding and field experience. Worldwide Support Including Ukraine: During 2022 Sow2Reap were able to fwancialky support Christian MiThisty in the following countries. Zambia £645, Canada £1,230, Ukraine & associated countries £26,882, Tanzania £250, Kenya £522. Other various gifts to support worldwide development: (GLO Europe £300, Open House Trust £500, Good News for EveryoThe £500, Exodus £100, UK PBS Centres £1.445. BES £200) Building Resilience: In 2022 Sow2Reap held two "Building Resilience" Days for Church leaders and tninisters. We were delighted to be able to report that on each occasion approx. 3540 attended. The input from the speakers was valued and much appreciated. This benefits the attendees and also their congregations as they disseminate this to them. Page I
SOW 2 REAP TRUST REGISTERED NUMBER: N1061195 REPORT OF THE TRUSTEES for tlje Year Ended 31 DECEMBER 2022 Staff Louise Balmer remains our only paid staff member. Her role is a part time role in managing collatin& distribution and use of the Bibletitne resource, the organising of camp and prize events. and also the administration of various aspects wtthin the Sow2Reap office. Public benefit The main benefit flowing to the public from the advancement of the Christian religion through our resource5 IS moral and ethical. Those associated with the Trust often briog physical and material need to those with whom they worK both Christian and Non-ChristIa Those whom the Trust support includes those who seek to relieve poverty, provide tnedical, educational and other SerViS to their comtnunities in which they work. There is no harni arising from any of tbese purposes. The TnteeS seek to ensure that the Public benefit requirement is considered and Sow2Reap Tnt facilitates the advancement of the Christian religion and having due regard to the Charity Convnission foi Northern Ireland's guidance on public benefit. FINANCIAL REVIEW Financial Revlew The total income atllounted to £132,013 for the year ended 31 December 2022 an increase from the previous year (2021:£41.785). The total expenditure during the year ended 31 December 2022 incre&sed to £116,488 compared to £52.291 in the previous year. The totsl lld balance at the year end was £23,696 compared to £8,171 last year. Reserves policy The Charity's unrestricted reserves of £21,776 are regarded by the trustees as adequate and would enable the charity to Continue operating covering salary and other expenditure for the first six months of the year. STRUCTURE, GOVERNANCE AND mAAGEMENT Governing doeument The charity is controlled by its governing documenL a Metnorandum and Articles of Association and constitutes a limited company. litnited by guarante4 as defined by the CompaThie5 Act 2006. The company w&s set up on 10 October 2006 and was registered with the Charity Coromission for Northern Ireland on 30 January 2015. REFERENCE AfqD ADmsTRATIvE DETAILS Registered Company number N1061195 (Northern treland) Registered Charity number 101162 Registered office 37a Belmore Street Enniskillen Co. Fennanagh Bf74 6AA Trustees Mr H l Jones Mr S J Balmer Mr W R S Emerson Mrs K Duncan Mr M Balmer Mr P Somerville There were no changes to the composition of the trustees during the year. Company Secretary Mr H l Jones Page 2
SOW 2 REAP TRUST EGISTERED NUMBER: N1061195 REPORT OF THE TRUSTEES for the Year Ellded 31 DECEMBER 2022 REFERENCE AND ADMINISTRATIVE DETAII Independellt Examiner W K Rainey FCA Patton Rainey and Associates Chartered Accountants 6 East Bridge Street Enniskillen Co. Femlanagh BT74 7B T Approved by order of the board of trustees on 16 March 2023 and signed on its behalf by: Mr S J Balmer- Trustee Page 3
6)atto/& & o/JJoo"ateJ Chartered Accountants and Registered Auditors INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOW 2 REAP TRUST I report on the accounts of the company for the year ended 31 December 2022. which are set out on pages five to thirteen. Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you 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- examine the accounts under Section 65 of the Charities Act 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 state whether particular matters have come to my attention. Basis of the independent examiner's report have examined your charity accounts as required under Section 65 of the Charities Act and my examlnation was Caled out in accordaThce with the general Directions given by the Charity Comtnt5sion for Northern Iretand 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 included consideration of any unsUal items or disc105ures ITh 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.. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord wtth those accounting records That the accounts do not cornply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Ststement of Reconynended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further inforniation needed for a proper understandiThg of the accounts to be reached. Independent examiner's statement I have completed my exatnination and have no concerns in respect of the matters (l) 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 attentio W K Rainey FCA Patton Rainey and Associates Chartered Accountants 6 East Bridge Street Enniskillen Co. Femanagh BT74 7BT 16 March 2023 CHTERED. Registered lo cary out audit work and regulated lor a range of investment business aclivities in the United Kingdom by the Institute of Chartered Accountants in Ireland
SOW 2 REAP TRUST STATEMENT OF FINANCIAL ACTIVITIES CORPORATINC AN INCOME AND EXPENDrruRE AccouNr for the Year Ended 31 DECEMBER 2022 31.12.22 Total funds 31.12.21 Total funds Unrestricted nd Restricted fund Notes INCOME AI¥D ENDOWMENfs FROM Donations and legacies 89.675 42?38 132,013 40.160 Charitable activities Charitable activities 1.623 Investment income Total 89,675 42J38 132,013 41,785 EXPENDITURE ON Charitable activities Charitable activÉties 76,070 40,418 116,488 52.291 NET INCOMEI(EXPENDITURE) 13,605 1,920 15,525 (10.506) RECONCILIATION OF FUNDS Total fid$ brought forward 8,171 8,171 18.677 TOTAL Fuf4DS CARRIED FORWARD 21,776 1,920 23,696 8.171 The notes fonn part of these fmancial stateTnents Page 5
SOW 2 REAP TRUST GISTERED NUMBER: N106119 BALANCE SHEET 31 DECEMBER 2022 31.12.22 Total fuThds 31.12.21 Total funds UThrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets 827 827 1.034 CURRENT ASSETS Debtors Cash at bank 4,121 17,058 4,121 18,978 2.562 4.805 1,920 21,179 1,920 23,099 7.367 CREDrroRS Amounts falling due within one year io (230) (230) (230) NET CURRENf ASSETS 20,949 1,920 22,869 7.137 TOTAL ASSETS LESS CURRENT LIABILITIES 21.776 1,920 23,696 8.171 NET ASSETS 21,776 1,920 23,696 8.171 Unrestricted fimds Restricted funds 21.776 1,920 8.171 TOTAL FUNDS 23,696 8.171 The charitable company is entitled to exemption from audit under Se¢tion 477 of the Companies Act 2006 for the year ended 31 December 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of th¢ Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keep5 accounting records that coniply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable Company as at the end of each financial year and of its surplus or deficit for each fuwicial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply witll the requiretnents of the Cotnpanies Act 2006 relating to fanCIaL statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page 6 continued...
SOW 2 REAP TRUST REGISTERED NUMBER: N106119 B"ALANCf SHEET - continued 31 DECEMBER 2022 These fanCIal statements have been prepared in accordance with the provisions applicable to charitable Companies subject to the small companies regime. The fancIal ststements were approved by the Board of Tnistees and authorised for issue on 16 March 2023 and were signed on its behalf by: Mr S J Balmer - Trustee The notes forni part of these fmancial statetnents Page 7
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS for th¢ Year Ended 31 DECEMBER 2022 ACCOUNTING POLICIES Basis of preparillg the financial statements The fanCIal statements have been prepared under the historical cost convention. and in accordance With the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102). Income All income is recognised in the Ststement of Financial Activitie5 once the charity has entitlement to the funds, it is probabEe that the income will be received and the amount can be mwured relÉably. Income relates to donations and gifts along with Gift Aid reclain]s received frotn HM Revenue and CustOll. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it Is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation cao be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible red 2ssets Depreciation is provided at tbe following annual rate5 in order to write off each asset over its estimated useful life. Fixtures and fittings 200/0 on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund 2ccounting Unrestricted fimds Can be used in accordance with the charitable objectives at the dis¢retion of the trustees. Restricted fi]nds can only be used for particular restricted purposes within the objects of the charity. Restricttons arise when specified by the donor or when funds are raised for particular restricted purposes. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Going concern There are no material uncertainties about the chariws ability to continue. Page 8 continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMEwfs - continued for the Year Ended 31 DECEMBER 2022 INVESTIIIENT INCOME 31.12.22 31.12.21 Interest received NET ll¥COMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargIn(CredItIng). 31.12.22 31.12.21 Depreciation - owned assets Other operating le&ses 207 2,800 258 2.800 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. Trnstees. expenses One trustee received reimbursed travel, motor and other expenses totalling £10,729 in the year ended 31 December 2022 (2021:£7,940). STAFF COSTS 31.12.22 31.l2.21 Wages and salaries 12,984 12,840 12,984 12.840 The average monthly number of employees during the year was as follows: 31.12.22 31.12.21 Adtninistration No employees received emoluments in excess of £60,000. Page 9 continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fid Restricted fimd Total funds INCOME AND ENDOWMEwfs FROM Donations and legacies 40,160 40.160 Charit2ble 2¢tivities Charitable activities 1,623 1,623 Investtnent income Totsl 41.785 41.785 EXPENDITURE ON Charitable activities Charitsble activities 45,993 6,298 52,291 NET INCoMEI(EXPENDuRE) Transfers between funds (4,208) (6,298) (6,298) 6,298 (10.506) Net movement in funds (10.506) (10,506) RECONCILIATION OF FUNDS Total funds brought forward 18,677 18.677 TOTAL FUNDS CARIUED FORWAIiD 8.171 8.171 STATUS The charitable company is limited by guardntee not having a share capital. The liability of the members is limited to £10 each. Sow 2 Reap is also registered with HM Revenue and Customs as a charity. (XR 9119). TANGIBLE FIXED ASSETS Fixtures and fittings COST At l January 2022 aThd 31 December 2022 1,766 DEPRECtATION At l January 2022 Charge for year 732 207 At 31 December 2022 939 NET BOOK VALUE At 3 l December 2022 827 At 31 December 2021 I,034 Page 10 continued...
SOW 2 REAP TRUST NOTES TO THE FtNANCtAL STATEMENTS- continued ror the Year Ended 31 DECEMBER 2022 DEBTORS: AMou[S FALLING DUE WITHIN ONE YEAR 31.12.22 31.12.21 Prepayments and accrued income 4,121 2.562 io. CREDfroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.22 31_l2.21 Accrued expeThses 230 230 MOVEMENf IN FUNDS Net movement in fidS At 31.12.22 At 1.1.22 Unrestricted funds General fid 8,171 13,605 21,776 Restricted funds Restricted fimd 1.920 1.920 TOTAL FUNDS 8,171 15,525 23,696 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds UDrestricted funds General fund 89,675 (76,070) 13,605 Restricted funds Restricted fund 42?38 (40,418) 1,920 TOTAL FUNDS 132,013 (116.488) IS,525 Pagell continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2022 ii. MOVEMENT IN FUNDS - continued Comparatives for tnovement io fullds Net movetnent in funds Transfers between fimds At 31.12.21 At 1.1.21 Unrestricted fullds General fund 18.677 (4,208) (6298) 8.171 Restricted funds Restricted fund (6,298) 6.298 TOTAL FUNDS 18,677 (10,506) 8.171 Comparative net movement in fimds, included in the above are &s follows: Incoming resources Resources expended Movement in funds Ullrestricted lunds General fjjnd 41,785 (45,993) (4.208) Restricted funds Restricted fimd (6,298) (6.298) TOTAL FUNDS 41.785 (52,291) (10,506) A current year 12 months and prior year 12 months cotnbined posÉtion is as follows: Net movement in fi]nds Transfers between funds At 31.12.22 At l.l.21 Unrestricted funds General fund 18.677 9,397 (6,298) 21,776 Restricted funds Restricted fund (4.378) 6.298 1,920 TOTAL FUNDS 18,677 5,019 23,696 Page 12 continued...
SOW 2 REAP TRUST NOTES TO THE FANCIAL STATEl¥tENTS - continued for the Year Ended 31 DECEMBER 2022 ii. MOVEMETrrr IN Fufffjs - ¢ontiMued A current year 12 months and prior year 12 months combined net movement in fimds, included in the above are as follows: Incoming resources Resource5 expended Movement in lldS Unrestricted funds General fund 131,460 (122,063) 9.397 Restricted funds Restricted fiEnd 42,338 (46,716) (4.378) TOTAL FUNDS 173,798 (168,779) 5.019 12. RELATED PARTY DISCLOSURLS There were no related party transactions for the year ended 31 December 2022. Page 13