PRS Patton Rainey I Stenson Limited CHARTERED ACCOUNITANTS & REGISTERED AUDITORS REGISTERED COMPANY NUMBER: N1061195 (Nortbern Ireland) REGISTERED CIIARITY NUMBER= 101162 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR SOW 2 REAP TRUST Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co. Femianagh BT74 7BT CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers egisiered lo carry out audit work and regulated lor a range 01 investment business activities in the Uniled Kingdom by the Inslilule ol Chartered A¢counlanls in Ireland
SOW 2 REAP TRUST CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the FiDan¢ial Statements 8 to 13
SOW 2 REAP TRUST REGISTERED NUMBER: N1061195 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial statements of Ihe charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims 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 Evangelical Christian Faith. (b) The relief of poverty. hunger and sickness. (c) The advancement of medical knowledge. (d) the advancement of education by way of assisting children and adults to receive Bible lessons. The beneficiaries from the Trust are Individuals and Organisations who are advancing the Christian religion around the world through various means supported by the Trust. Not only does the Trust give financial support to those involved in missions in various countries, but also printed Bible resources to assist individuals and groups to learn more about the Christian faith. Aehievem¢Dts and Performance BibletimeNewlife/Gleaners Resources: In 2023, Sow2Reap distributed over 200,000 Bibletime lessons to approximately 23.500 users in their homes and schools. We have many volunteer5 who assist in delivery, grading and marketing the resources. The public had opportunity to learn more about Christianity. Schools and parents benefitted from a free RE resource for their pupils and children. Sow2Reap also supply the resources to students in other countries via post and container e.g. Ghani Nigeri UAE. Zambia etc. Visits are normally rnade to schools to conduct a school assembly and distribute prizes for approximately 23,500 children along with something for the teachers as an encouragement. Time does not always permit to conduct an assembly, in these cases we deliver the prizes to the schools. For those who complete the Bibletime lessons at home (approximately 80 students) a public prize event was held this year in Knockconny Baptist Church (kindly granted) to reward students with pri2es. Home students have increased slightly this year and we are very thankful for this. Postal Bible School Camp= It was wonderful to be able to arrange our PBS residential camp for both Christians and Non-christians aged l 0-14 and 14-18. This year we changed our venue to the Cleenish Centre, Bellanaleck. We also had Junior and Senior camp for four nights each. Approximately 42 attended Junior and 37 attended Senior plus leaders. These Campers came from all over Ireland. They benefit from teaching on the Christian faith, teamwork, social skills and other skill sets. The leaders benefit from various training including safeguarding and field experience. Worldwide Support Kncluding Ukraine.. During 2023, Sow2Reap were able to financially support Christian Ministry in the following countries: Zambia £1,080. Canada £2,269. Ukraine & associated countries £1.920. Other various gifts to support worldwide development, £156. Building Resilience: In 2023, Sow2Reap held two 'Building Resilience" days for Church leaders and ministers. mainly from Counties Fermanagh, Tyrone and Donegal. We were delighted to be able lo 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 the Year Ended 31 DECEMBER 2023 Staff Louise Balmer remains our only paid staff member. Her role is a part time role in managing collating, distribution and use of the Bibletime resource, the organising of camp and prize events, and also the administration of vaTiOUS aspects within the Sow2Reap office. She does this alongside many volunteers who give of their time to assist the charity in fulfilling its aims. Public benefit The main benefit flowing to the public from the advancement of the Christian religion through our resources is mordl and ethical. Those associated with the Trust often bring physical and material need to those with whom they work, both Christian and Non-christian. Those whom the Trust support includes those who seek to relieve poverty. provide medical, educational and other services to their communities in which they work. There is no harni arising from any of these purposes. The Trustees seek to ensure that the Public benefit requirement is considered and Sow2Reap Trust facilitates the advancement of the Christian religion and having due regard to the Charity Commission for Northern Ireland's guidance on public benefit. FINANCIAL REVIEW Financial Review The total income amounted to £69,088 for the year ended 31 December 2023 a decrease from the previous year (2022=£132,013). The total expenditure during the year ended 31 December 2023 decreased to £79,153 compared to £116.488 in the previous year. The total fund balance at the year end was £13,631 compared to £23,696 last year. Reserves policy The Charity's unrestricted Teserves of £13.631 are regarded by the trnstees 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 MANAGEMENT Governing document The charity is controlled by its governing document, a Memorandum and Articles of Association and constitutes a limited company, limited by guarantee. as defined by the Companies Act 2006. The company was set up on l O October 2006 and was registered with the Charity Commission for Northern Ireland on 30 January 2015. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Dumber N1061195 (Northern Ireland) Registered Ch2rity llumber 101162 Registered olCe 37a Belmore Street Enniskillen Co. Femianagh BT74 6AA Trustees Mr H l Jones Mr S J Baln]er 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. Page 2
SOW 2 REAP TRUST REGISTERED NUMBER: N1061195 REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary Mr H l Jones IDdependent Examiner Mr Thomas S Patton FCA Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co. Fennanagh BT74 7BT Approved by order of the board of tSteeS on 27 September 2024 and signed on its behalf by: Mr S J Balmer- Trustee Page 3
PRS Patton Rainey I Stenson Limited CHARTERED ACCOUNTANTS & FiEGISTERED AUDITORS INDEPENDENf 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 2023, 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 examÈnation. 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 Comtnission for Northern treland 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 I have examined your charity accounts as required under Section 65 of the Charities Act and tny examination was Carried out in accordance with the general Directions given by the Charity Cotnmission for Northem Iieland 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 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: That accounting records were not kept in accordance with Section 386 of the Cotnpanies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles olthe 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 That there is further infonnation needed for a proper understandyng of the accounts to be reached. Independent examiner's statement I have completed my examination and have no coThcerns 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 attention. Mr Thomas S Patton FCA Patton Rainey Stenson Limited Chartered Accountants 6 East Bridge Street Enniskillen Co. Fennanagh BT74 7BT 27 September 2024 CHARTERED ACCOUNTANTS IRELAND Chartered Tax Advisers Registered lo carry out audit work and regulated for a range of investment business activities in the United Kingdom by Ihe Instllule of Chartered Accountan15 In Ireland
SOW 2 REAP TRUST STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT for the Year Ended 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 53,714 15,374 69,088 132,013 EXPENDITURE ON Charitable activities Charitable activities 55,615 23,538 79,153 l 16.488 NET INCOMEI(EXPENDITURE) Transfers between funds (1,901) (6,244) (8,164) 6,244 (10,065) 15,525 io Net movement ID funds (8,145) (1,920) (10,065) 15,525 RECONCILIATION OF FUNDS Total funds brought forward 21,776 1,920 23,696 8,171 TOTAL FUNDS CARRIED FORWARD 13,631 13,631 23,696 The notes forni part of these financial statements Page 5
SOW2 REAP TRUST REGISTERED NUMBER: N1061195 BALANCE SHEET 31 DECEMBER 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Tangible assets 662 662 827 CURRENT ASSETS Debtors Cash at bank 1,700 12J39 1,700 12,339 4,121 18.978 14,039 14.039 23,099 CREDITORS Amounts falling due within one year (1.070) (1,070) (230) NET CURRENT ASSETS 12,969 12,969 22,869 TOTAL ASSETS LESS CURRENT LIABILITIES 13,631 13,631 23,696 NET ASSETS 13,631 13,631 23,696 FUNDS Unrestricted funds Restricted funds 10 13,631 21.776 1,920 TOTAL FUNDS 13,631 23,696 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Compantes 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 financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes forni part of these financial statements Page 6 continued...
SOW 2 REAP TRUST REGISTERED NUMBER: N1061195 BALANCE SHEET- Colltinued 31 DECEMBER 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2024 and were signed on its behalf by.. Mr S J Balmer- Trustee The notes form part of these financial statements Page 7
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing tbe flnancial statements The financial 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 Ireland (FRS 102). Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the inwme will be received and the atnount can be measured reliably. Income relates to donations and gifts along with Gift Aid reclaims received from HM Revenue and Customs. 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 can 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 fixed assets Depreciation is provided at the following annual rates 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 aecounting Unrestricted funds can be used in accordance with the charltable objectives at the discretion of the trustees. Restricted fimds can only be used for particular restricted purposes within the objects of the charity- Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Hire purchase and leasing commitments Rentals paid under operdting 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 charity's ability to continue. Page 8 continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2023 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after charging/(crediting): 31.12.23 31.12.22 Depreciation - owned assets Other operating leases 165 2,800 207 2.800 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Truslees, expenses One trustee received reimbursed travel. motor and other expenses totalling £10,939 in the year ended 31 December 2023 (2022:£10,729). ST AFF COSTS 31.12.23 31.12.22 Wages and salaries 14,582 12,984 14,582 12,984 The average monthly number of employees during the year was as follows: 31.12.23 31.12.22 Administration No employees received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted nd Restricted nd Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 89.675 42,338 132,013 EXPENDITURE ON Charitable activities Charitable activities 76,070 40,418 116,488 NET INCOME 13.605 1.920 15,525 RECONCILIATION OF FUNDS Total funds brought forward 8,171 8,171 Page 9 continued..
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted nd fund Total funds TOTAL FUNDS CARRIED FORWARD 21,776 1,920 23,696 STATUS The charitable company is limited by guarantee not having a share capital. The liability of the members is limited to £1 O 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 2023 and 31 December 2023 1,766 DEPRECIATION At l January 2023 Charge for year 939 165 At 31 December 2023 1,104 NET BOOK VALUE At 31 December 2023 662 At 31 December 2022 827 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Prepayinents and accrued income 1,700 4.121 Page 10 continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Accrued expenses 1,070 230 io. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.12.23 At 1.1.23 Unrestricted funds General nd 21,776 (1,901) (6,244) 13,631 Restricted funds Restricted fund 1,920 (8,164) 6244 TOTAL FUNDS 23,696 (10,065) 13.631 Net movement in funds, included in the above are as follows= Incoming resources Resources expended Movement in funds Unrestricted funds General fund 53,714 (55,615) (1,901) Restricted funds Restricted fund 15J74 (23,538) (8,164) TOTAL FUNDS 69,088 (79,153) (10,065) Comp2r2tives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 8,171 13,605 21,776 Restricted funds Restricted fund 1.920 1,920 TOTAL FUNDS 8.171 15,525 23,696 Page 11 continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 DECEMBER 2023 io. MOVEMENT IN FUNDS- eontinued Compardtive net movement in fLmds, included in Éhe above are as follows: Incoming resources Resources expended Movement in ndS Unrestricted funds General fimd 89,675 (76,070) 13,605 Restricted funds Restricted fund 42,338 (40,418) 1,920 TOTAL FUNDS 132,013 (116,488) 15.525 A Cllent year 12 months and prior year 12 months combined position is as follows: Net movement in ndS Transfers between funds At 31.12.23 At l.1.22 Unrestricted funds General nd 8,171 11.704 (6.244) 13.631 Restricted funds Restricted fund (6.244) 6,244 TOTAL FUNDS 8,171 5,460 13.631 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 143,389 (131,685) 11,704 Restricted funds Restricted fijnd 57,712 (63.956) (6.244) TOTAL FUNDS 201,101 (195,641) 5,460 Page 12 continued...
SOW 2 REAP TRUST NOTES TO THE FINANCIAL ST ATEMENTS - colllinued for thc Year Ended 31 DECEMBER 2023 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. Page 13