Charity registration nun)ber". 101297 The Burning Bush Annual Report atsd Finallcia] Stat¢ments for the Year Ended 31 Allgust 2022
The Burning Bush Contents (continued) Reference and Admtnistrative Details Thistees, Report 2to3 Statejnent of Ttute¢s' Respotssibilities tndependent Examinels Report Statement of Financial A¢tivities Balance Sheet Note5 to the FEnancial Statements 8t014
The Burning Bush Reference and Administrativ¢ Details TTUStees Mrs Ruth Neill Mr Billi¢ Neill Mr Matth¢w Neill Mr Stuart Neill Charity Registration Number 101297 Principal Office 62 Scotch Street Dungannon Co Tyrone BT70 7DH Iudepelldent Examiner Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Co Dyone BT717DH Pag¢ I
The Burning Bush Trustees, Report The trustees present the allnual report together with the fmancial statements of the charity for th¢ year ended 31 August 2022. Objectives and actlvities Publ1¢ benefll The trustees main responsibilities are to increase kntswledge of God's word through the Bible aud other resour¢¢s. mainly in Dungannon and South Tyrone are4 to offer conffort and support tt) families and p¢rsons in need through sRckn¢ss, death and other issues, and to help support missions in Ireland and overseas. Th¢ charity raises fiJud5 through the sale of books and other religious resources in their bookshop & holding events such as concerts & breakf&%t mornings. This enables them io increase religiou5 knowledge within the DungaDnon and South TITone Area, to offer conrfort to persons in ill health or nearing death, or peopl¢ with family problems. This a]50 enables them to increase capacity amongst missionaries to see the Christian faith improved, advanced and spread through the in¢ome derived from the sale of these resources being re-distributed to the religious organisatiOll5. The tsustees cot)firrn that they have cornplied with th¢ requirernents of tbe Charities Act (Northern Ireland) 2008 to have due regard to the public benefit guidanee published by the Charity Cotnrnission forNorthern Ireland. Achievements and perfonnance A very tough and challenging year with ongoing fjnallcial issues faeing so maDy' people still calling into the Shop seeking help and advise with som many issu¢s. As with previous y¢ar5 the shop ha5 tried to help local n)ission and tract producers. Strll¢ture? governance and mallagement Financial instrumellts objec11v undpolieles The charity's t¢tivities expose it to a number of fll)8llcial risks including credit risK cash flow risk and liquidity risk. The use of fllwicial derivatives is governed by the charity's polici¢5 approved by the board of tees. which provid¢ WTitten principles on the use of financial derivatives to manage thes¢ risks. Th¢ charity does not use derivativ¢ fmancial instruments for speculative purposes. Cashjlow risk The charity's activities expose it primarily to the flnancial risks of ¢hanges in forei curr¢ncy exchange rates and interest rates. The charity uses foreign exchange foTward contracts and interest rate swap contracts to h¢dge these ¢xposures. tnterest bearing assets and liabilities #re held at fixed rate to ensure c¢rtainty of c&sh flows. Page 2
The Burning Bush Trustees, Report (continued) Credit rtsk The charity's principal fiiwicial assets are bank balances and c&%h, trdde aud other receivables, and investments. The charity's credit risk is prirnarily attributable to Its trdde receivables. The amounts presented in the balance sh¢¢t are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event whicty based on previous experience, is evidenee of a reduction in the recoverability of the cash flows. The ¢redit risk on liquid funds alld derivative financial instruments is limit¢d because the counteTparties ere banks with higb credit-ratings assigned by international credit-rating agencies. The charity h&% no significallt concentration tsf credit risL with exposure spread over a large number of counterparties al ¢tOrners. Llquidty risk In order to maintain liquidity to ensure that sufficient filnds are available for ongoiug operations and tllre developments, the charity use5 a mixture of long-temj and short-terni d¢bt fance. Further detai]s regarding liquidity risk can be found itt the Statemeni of accounting policies in the financial statements. The annual report w&s approyed by the trteeS of the charity on 14 June 2023 and Sied on its bebalf by.. Mrs Ruth Neill Trustee Mr Billie Neill Trustee Page 3
The Burning Bush Statement of Trustees, Responsibilities The trnstees are responsible for preparing the trustees. report and the financial 5tatemenis in accordance witb the United Kingdom A¢countiag Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trnstees to prepare f¢18] statements for each ftnallcial year whith give a true and fair view of the state of affairs of the charity and of the incoming r¢sources and applic2¢ion of resources of the charity for that period. In preparing these f]nancial statements, the trustees are r¢quired to.. sel¢ct suitable accountzng policies aud then apply them ¢onsist¢ntly' observe the llthods and principles in the Chartties SORP. make judgements and eslimates that are ttasotvdble and prnd¢nt" state whether applicable aoUnting standards have been followe4 subject to any nterIal departures disclosed 2nd explained in the financial statements. and prepare th¢ financial stat¢ments ou the going concern basis unless it i5 inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper atcountitjg records that disclose with reasonable accurdcy at any time the f]nancial position of the charity and enable them to ensure that the financial stst¢ments cornply with the Charities Aet (Northern treland) 2008, the applicable Charities (Accounts 2nd Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safrguarding the assets of the charity and hence for taking reonable steps for the prevention and dete¢tion of fraud alld other irr¢gularities. The tNstee5 are responsible for the maintenance and inteIty of the coryorate alld financial infornydtion includ¢d on the charitsble company's website. L¢gislation govemtng the preparation and di55emination of fitwi¢ial statell]ts may differ froEn legislation in other jurisdictions. Approved by th¢ tsuste¢s of tb¢ charity on 14 June 2023 and sI¢d on its behalf by.. ÉJL Mrs Ruth N¢ill Tntee Mr Billie N¢ill Trustee Page 4
The Burning Bush Independent Examiner's Report to the trustees of The Burning Bush report to the tsILsi¢es on my examination of the accounts of The Burning Bush for tbe year ¢llded 31 August 2022. Responsibilitles and basts of report As the charity's trustees of The Burning Bush you ar¢ responsibl¢ for the preparation of th¢ accounts in accordance ith tbe requirements of the Charities A¢1 (Northern Ireland) 2008. It is my respoDsibRlity to - exalnine the accounts UDder section 65 of the Charities Act - follow the pro¢edures laid dowi in the general Directions given by the Com]nission under section 65(9)(b) of tbe Charities Act - state whether particular matters have come to my attention Basis of independent ¢JamiDer'$ Teport I have examined your charity e¢counts as required under Section 65 of the Clwities Act and my examination was cerried out in accordan¢¢ with the geneTal dir¢ctions given by the Charities Comrni5sion for Northern Ireland ulld¢r section 65 {9)(b) of the Charities Act. My examination included the review of the accounting record5 kept by the charity and a comparison of the accounts presented with those records. It also included consideratÈon of any unusual items or dis¢losures in the a¢counts, and seeking explanations from you as ¢harity thjstees concerning any such rnatters. My role is to 5tste whether any material matters have come to my attentions giving me ¢ause to believe:_ l That a¢counting records were not k¢pt in accordance witb section 63 of the Charities Aet 2 That the accounts do not accord with those accounting records 3 That the accounts do not comply with the a¢counting reqvirements of the awities Act 4 That the is fillther infornatEon needed for a proper understanding of the accounts to be reached. Indepelldent examiner's ststement I have completed my examination 8J)d have no concerns in respect of the matters (l) to {4) listed above alll in connection with the fi>llowing Directions of the Charity Commission for No)thern Irelan(L I have found no matters that require drawing to your att¢ntion. om&s Oliver and Associates LTmited Certified Public Aecountallt l Moyg&%hel Mil]s Park Dungannon Co Tyrone BT717DH 14 June 2023 Page 5
The Burning Bush Statement of Financial Activities for the Year Ended 31 August 2022 Unrestriet¢d lund5 Total 2022 Note Income and ElldowJneDts from: Donations and legacies Other trading activities Total income 12.013 47,007 12,013 47.007 59,020 59,020 Expenditure on: Raising fidS Otber expenditure Totsl expeuditure Net income (43,345) (2,591) (43,345) (2,591) {45,936 (45,936) 13,084 13,084 N¢t movement in fLd$ Reconciilation offuDds Total fi]nds brought forward Total fitttds carried forward 13,084 13,084 50,903 50,903 16 63,987 Ullrestrieted funds 63,987 Total 2021 Nots In¢ome and Endowments from: Donations and legacie5 Other trading activities Totsl income 8,536 37,107 8,536 37.107 45,643 45,643 Expenditure OD: Raising fidS Other expenditure Total expenditure Net income (33,294) {I,000) (33,294) 1,000) 134,294) (34,294) 11,349 11,349 Net movement in fimds Reconeiliation of funds Totsl fi]nds brought forward Total fimds carried forward 11.349 11,349 39.555 39,555 16 50,904 50,904 All of the charity's activities derive from continuing operations during tbe above ttvo periods. The fidS breakd0Th for 2021 15 5hoMv in note 16. Th¢ notes on pages 8 to 14 forni an integrnl part of these fffjancial statements. Page 6
The Burning Bush (Registration number". 101297) Balance Sheet as at 31 August 2022 2022 2021 Note Fixed assets Tangibl¢ assets io 7.771 10,362 Current assets Stocks Debtors Cash at baJk and in hand 25,864 983 38,876 65,723 24,723 568 22,661 12 13 47,952 Creditors: Amoullts falllng due wffithin one ye*T Net eurrent assets 14 {6,657 (4,560) 59,066 43,392 Totsl assets less eurr¢nt Ilabilities 66,837 53,754 Creditors: Amounts falling due after more than one year Net assets 15 (2,850) 63,987 (2,8501 50,904 Fund5 of the charlty: Ullr¢5trieted incollt¢ funds Utjrestricted ft]nds 63,987 50,904 Total funds 16 63,987 50,904 The f]nancial statements on pages 6 to 14 were approved by the bwtees, and authorised for issue on 14 June 2023 and sÉgned on their behalf by.. OLL Mrs Ruth N¢ill Trnstee Mr Billie Neill Trustee The note5 on pages 8 to 14 form 2n integral part of th¢5e fllwieia] statements.
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2022 l Accounting polieles Statement of complianee The financial ststem¢nts have been prepar¢d in accordance with the second edition of the Charities Ststement of Reeom]nended Pra1¢¢ issued in October 2019, the FitnclaI Reporting Stalldd applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Clwities A¢t 2011. Basis of preparation The Burning Bush meets the defu)ition of a public benefit etttity under FRS 102. The ac¢ounts (fiDancial statements) haye been prepared ullder the historical cost convention with items recognised at cost or transaction value unless otherwise Stated in the r¢levant note(s) to thes¢ accounts. Golng concern The trustees consider that there ar¢ no material uncertainties about the tharity's ability to continue &s a going ¢oncern. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core fid]Thg or e of a general nature is reco)ISed when the charity bas entitlement to the in¢ome, it is probable that the incom¢ will be received and the amount call be Jneasured with sufficient reliabiIity. Don¢Ttlons and legoei Donations and legacies are re¢ogDised on a r¢¢eivabl¢ basis when re¢eipt ts probable and the amount ean be reliably measured. Expenditure AII expenditure is recog]ised once th¢re is a legal or con$tructive obligation to that expenditure, it is probable settlement is required alld the 3mouDt ¢an be tneasured reliably. All costs are allocated to the applicable expenditure heading that aggr¢gate similar costs to that category. Where costs Cal0t be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with centrat Staff costs allocated on the basis of tirne spent, and depreciation charges allocated on the portion of the asset's Use. Other support costs are allated based on the spread of staff ¢05Es. Raislngfunds These are costs incuTred in attracting voluntary income, the managernent of invesknents alld those incuThed in trading activities that raise fi8. Page 8
The Burning Bush Note5 to the Financial Statements for the Year Ended 31 August 2022 (continued) Taxation The charity is ¢onsidered to p&%$ the tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation t&Y purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within ¢ategories wvered by Chapter 3 Part l i of the Corporation T&x Act 2010 or Section 256 of the T&xation of Chargeable Gains Act 1992, to tbe extent that su¢h income or gtiins are applied ¢xclusively to charitable pUoses. Tangible fjxed a$$ets Indlvidual fixed assets c05ting £0.00 or rnore are initially record¢d at cost, less aDy subsequ¢nt accumulated depreciation and subsequent accumulated irnpairment losses. Depreelation and amortisatio Depreciation is provided on tangible fixed 85sets so as to write off the cost or Valuatio less any e*imated residual valu¢, over their expected useful economic life as follows: Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and s¢11, after due regard for obsolet¢ and slow moving stocks. Cost is determined using the first-] first-out {FIFO). Trade debtors Trade debtors are alnounts due from ¢ustom¢rs for merchandise sold or setviees perforni¢d in the ordinary course of busin¢ss. Trade debtors are re¢ognis¢d initially at tb¢ trans¥tion pri¢e. They are subsequently measured at amortis¢d cost using the effective interest method, less prgvision for impairment. A provision for the Empairm¢nt of trade debtors is established when there 15 objective evidence that the eharity will not be abl¢ to collect all amounts due according to the original tern of the rec¢ivable$. Cash and cash equivalents Cash and casb equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments tbat are r¢adily convertible to a known amount of cash and aye subject to an insignificant risk of clwig¢ in value. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course Of business from suppliers. Accounts payable are ¢lassified as current liabilities if the does not hav¢ an unconditional righL at the end of the reporting perio4 to def¢r settlement of the creditor for at least twelye OnthS after the reporting date. If there ts an unconditional right to defer settlement for at least twelve months after tb¢ reporting date, they are pre5¢nted as non-current liabilities. are recognised initially at the transaction price and subsequently measured at amorttsed cost using th¢ effective inter¢st method. Page 9
The Burning Bush Notes to the Finaueial Statements for the Year Ended 31 August 2022 (¢ontillued) Fund stru¢ture Unrestricted in¢ome fijnds are general funds that are available for use at the tnJst¢es discretion in fiutheranee of the objectives of tbe ¢lwity. 2 Income from don4tion5 and legaci&s Ullrestricted funds General Total fulld5 Donations and legacies- Donations from individuals Gift aid re£laim¢d 9,074 2,939 9,074 2,939 Totsl for 2022 12,013 12,013 Total for 2021 8,536 8,536 3 Ineorne frojn other trading aetivities UDr¢5tricted funds General Total funds Trading incorne. Shop in¢ome from sale of donated goods and services Total for 2022 47,007 47,007 47.007 47,007 Total for 2021 37,107 37,107 4 Expenditure OD ralsing funds a) Costs of trading activities Page 10
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2022 (continu} Unrestricted funds General Total fullds Note Costs of goods sold Other direct costs of activities for generating fimds Total for 2022 27.282 11,773 27,282 11,773 39,055 Totsl for 2021 32,204 32,204 Total Costs 5 Other expenditure Unrestrlcted funds General Total funds Note Depr¢olatio amortisation and other similar costs Total for 2022 2,591 2,591 2,591 2.591 Totsl for 2021 1,000 1.000 6 Net IDCOltiingloutEoing resources Net iti¢oming resowces for the year include.. 2022 2021 Loss on disposal of fix¢d assets b¢ld for tbe ¢hariry's own use Depreciatioll of fixed &ssets 1,000 2,591 7 Trustee5 remuneration and expellses No tsiJst¢¢5, nor any persons ¢o]Inected with them, have received any r¢rnuneTation from the clwity during the year. 8 Staff eosts The aggregate payroll costs were as follows.. 2022 2021 Stsff costs during the year were: Wages and salarE¢s 4.290 1,090 Pagell
The Burning Bush Note5 to the Financial Statements for the Year Ended 31 August 2022 (continued) No employe¢ received emoluments of more tlwi £60,000 during the year 9 Taxation Th¢ charity is a rtgistered charity and is therefore exempt from taxation. 10 Tangible fixed avjets Computer equipment Motor vehicles Total Cost At I September 2021 10,000 362 10,362 At 31 August 2022 DeprecRation Charge for the year Transfers 10.000 362 10.362 2,500 2.500 91 91 At 31 AugLL%t 2022 Net book value 2.500 91 2.591 At 31 August 2022 7,5(X) 271 7,771 At 31 August 2021 10,000 362 10.362 11 Stock 2022 2021 Stocks 25.864 24,723 12 Debtor5 2022 2021 Trade debtors 983 568 13 Cash and eash equivalents 2022 2021 Cash at bank 38,876 22,661 Page 12
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2022 (continued) 14 Creditors: amounts falling due within one year 2022 2021 Trad¢ creditors Other creditors Accruals 2,304 1.488 2,865 2.222 1.738 600 6,657 4,560 15 Creditors: amounts falling due after one year 2022 2021 Other loatss 2,850 2,850 16 Fund5 B#lanc¢ at I Septejnber 2021 Incoming resour Re50urees expended Balance at 31 August 2022 Unrestricted fund$ General 50,903 59.020 (45.936) 63,987 B2lan¢e at I September 2020 Ill¢oming ources Resources expended Balance at 31 August 2021 Unrestrict¢d funds General 39,555 45,643 {34,294 50.904 17 Analysts of net S5sets between funds Page 13
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2022 (continued) Unrestricted fullds General Totsl fullds at 31 August 2022 Tangible fixed assets CutTent assets Current liabilities Creditor$ over l ye Totsl net &ssets 7.771 65,723 (6,657) (2,850 7,771 65,723 (6,657) 2,850} 63,987 63,987 UrtrICted funds General Total funds at 31 August 2021 Tallgible fix¢d assets Curyeni a%s¢ts Current liabilities Creditors over l yea Total net assets 10,362 47,952 (4,560) (2,850) 10.362 47,952 (4,560) (2,850) 50,904 50,9( 18 Analysis of llet funds Atl September 2021 At 31 August 2022 Cash at bank and in hand 22.661 22.661 Net debt 22,661 Atl September 2020 22,661 At 31 August 2021 Cash at bank and in hand 20.255 20.255 Net debt 20,255 20,255 Page 14
The Burning Bush Statement of Financial Activities by fund for the Year Ended 31 August 2022 Totsl Total Unrestrietrd Ullrestricted Funds Funds 2022 2021 Illcome and Endowments from: Donations and legacies Other trading activities Total income 12,013 47,007 8,536 37,107 59,020 45,643 Expenditure oll: Raising fLU)ds Other expenditure Total expenditure Nei incorne (43,345) 12.591) (33.294} (1,000) (45,936) {34.294} 13,084 11,349 N¢t movement in funds ReeoneiliatiOD of funds Total funds brought fonvard Total funds carried forward 13,084 11,349 50,903 63,987 50,904 This page does not fonn part of the statutory fiuancial 5tatem¢nts. Page 15
The Burning Bush Detailed Statement of Financial Activities for the Year Ended 31 August 2022 Total 2022 Tot81 2021 IneoJDe and Endowrnents from: Donations and legacies (analysed below) Other trading activities (analysed below) Total income 12.013 47,007 8,536 37,107 59,020 45,643 Expenditure on: Raising fimds (analy5ed below) Other expenditure (analysed below) Totsi expenditure Net incoJn¢ (43.345) (2.591) (33,294) (1,000) (45,936 34,294) 13,084 11.349 Net movement in fidS 13,084 11,349 Reconeiliation of fund$ Total fidS brought forward Total fidS catried forwaxd 50,903 39,555 63,987 50,904 This page does not forffj part of the statutory fJnall¢ial statements. Page 16
The Burning Bush Detailed Statement of Financial Activities for the Year Ended 31 August 2022 (continued) Total 2022 Totsl 2021 Donallons qndlezacies Appeals and donations Gift Aid tax reclaimed 9,074 2,939 8,536 12,013 8,536 Oiher lrndlng acÉhyilies Sales of purch&%¢d goods 47,007 37,107 47,007 37,107 Ratsingfyuds Opening stock Purchues Closing stock Wages and salaries Rent Water rates LighL heat power tnsurance Repairs and maintenance Telephone and f Printin& postage and statitsn¢ry Charitable donations Sundry expenses Motor expenses Advertising Aecountaney fees Bal Charges Credit card charges (24,723) (28,423) 25,864 {4,290) (2,925) (76) (998) (415) (58) {284) (106) (2,777) {354) (2,411) (69) (684) (150) (460 (43,345) {23,820} (21,161) 24,724 (1.090) (3,250) {222) (639) (350) (360) (652) (102) (3.220) (12TJ (1.960) (594) {150) (321) (33,294 Other wthdilure Depreciation of motor vebicles Depreciaiitsn of offIce equipment (Profity1055 on sale of tangible fixed &%s¢ts held for charivs owll use (2,500) 191) (1,000) (1.000) (2,591 This pag¢ does not form part of the statrjtory finan¢ial ststernents. Page 17