Cl)arity registration number: 101297 The Burning Bush Annual Report and Financial Statements forthe Year Ended 31 August 2023
The Burning Bush Contents (continued) Reference and Administrative Details Truste¢s' Report 2to3 Ststement of Truste¢$' Responsibilities Indep¢ndent Examinetrs Report Statement of Finallcial Activities Balance Sheet Notw to the Financial Staternents 8t014
The Burning Bush Reference and Administrativ¢ Details Trustee5 Mrs Ruth Neill Mr Billie Neill Mr Matthew Neill Mr sart Neill Cbarity Registration Number 101297 Principal OtTice 62 Scotch Street Dungannon Co TJTone Brio 7DH llldependent Examiner Thomas Oliver and Associate5 Limited Certfied Public Accountant l Moygashel Mills Park Dungannon Co T)Tone BT717DH Pag¢ I
The Burning Bush Trustees, Report The tswt¢es present the annual report together with th¢ financial statements of the cl)arity for the year ended 31 August 2023. Objeetives 3nd activities Public benef The trnStees main r¢sponsibilities are to in¢rease knowledge of God's word through the Bible and other resources. mainly in Dungannon and Stsuth Tone to offer ¢omfort and support to famities and persons in n¢¢d thmugh sickness, deatb and other issues, and to help support Inis5ions in treland and oversea5. The charity raises funds through the sal¢ of books and other religious resources in their bookshop & holding events $u¢h as concerts & breakfast mornings. This enables them to increase religious knowledge within the Dungallnon and South T>ron¢ Area , to offer comfort to persons in ill health or nearing death, or people with family problems. This also enables them to incre&s¢ capacity amongst tnissionaries to se¢ the Christian faith improved, advanced and spread through the income derived from the sale of these resources being re4istribuied to the religious organisations. The trnstees confirni that tbey have complied with the requirements of tbe Charities Act orthern Ireland) 2008 to have due regard to the public benefit guidaD¢e published by the Charity CottJEni5sion ft>r Northern Ireland. Aehievements and performance A challenging year with ongoing filnCIal issues facing so many" people stÉll calling into shop seeking help and advice 7th so many issues and sttuggles. As in previous years the shop h&$ tried to help local rnissions and tract producers etc. Strueturey governance and mallagemellt Finaneial 1nstrnellts Objeclives andpollcles The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of funcial derivatives is governed by the charity's policies approved by the board of trustees, which provide MTitten principles on tbe use of financial derivatives to nmnage thes¢ risks. Th¢ ehariry does not use derivative fjnancial instnllnellts for Specul1ve purposes. Coshflow ruk The chaxity's activities expose it primarily to the financial risks of changes in foreign CuenCY exchange rates and interest rates. The ¢h8rity uses foreign exchallge forward contrwts and interest rate swap contracts to hedge these exposures. tnterest bearing assets and liabilities are held at fixed rate to ensure certainry of cash flows. Page 2
The Burning Bush Trustees, Report (continued) CredlÉ r45k The charity's principal fillancial ass¢ts are bank balances alld Cas trade and other receivables, and investments. The charity's cr¢dit risk is primarily attributsble to its trade rweiyables. The amounts presented in the ba]ance sheet are n¢t of allowances for doubtful Te¢eivable$. An allowance for imp2iTment is made where there 15 an identified loss event whieh. based on Previous experience, is evidence of a reduction in the recoverability of the ch flows. The credit risk on liquid funds and derivatiY¢ financial instruments is limited be¢ause the counterparties are banks with high ¢redit-ratings assigned by international credit-rating agencies. The ¢harity h05 no significant ¢oncentratiou of credit risK with exposure spread over a large number of counterpartie5 and ¢u5tomS. Liquidlty rtsk order to nltilD liquidity to ensure that suffi¢ient fiaS are availabl¢ for ongoing operations and futur¢ developments, the charity uses a n)ixtwe of long-t¢rm and short-term debt finance. Further details regarding liquidity risk can b¢ found in the State]nellt of accounting policies ill the fancIal ststements. The annual report was approved by the trustees of the charity ou 30 May 2024 and signed on its b¢half by: Mrs Ruth Neill Tnee Billie Neiu Page 3
The Burning Bush State]nent of Trustees, Responsibilitie5 The tNStees are responsible for preparing the trustees, report and the finallcial statements in accordance with the Unit¢d Kingdom Accounting Standards (United Kingdorn Generally Acc¢pt¢d Accounting Pra¢ti¢e) and applicabl¢ law and regulations. The law applieable to charities requires the trustees to prepare financial statements for each financial year which give a true attd fair view of the state of affairs of the charity and of the iucorning resources and application of resources of the Chity for that period. In pr¢paring these fjnancial ststem¢nts, the trustees are requir¢d to: select suitable accounting policies and then apply them ¢ou5iStently' observe the metbod% and principles in the awitie$ SORP,. make judgements and ¢stimates that art reasonal)le and prudenL state whether applieabl¢ accounting stsndards bav¢ been followe(L subject to any terial departtwes disclosed and explained in the ftnancial staternents. and prepare the financial statements on the going con¢¢rn basis unless 1¢ is inappropriate to presume that the charity will continu¢ in business. The trnstees are responsible for keeping proper accounting r¢¢ord5 that disclose witb reasonable accutw at any time the financial position of the charity and enable them to ensure that the fCIal statements comply with the Charities Act (NortherD Irelalld) 2008. the applicable Chaxities (Accounts and Reports) Regulations, and the provision5 of the constitution. The trll5tees are also responsible for safeguarding the assets of the clmrity and h¢n¢¢ for taking reasonable st¢ps for the prev¢ution and detection of fraud and otller irr¢gularities. The trustees are responsible for the maintenance and integrity of the corporate and fjnancial infornydtion included on the charitable company's website. Legislation governing the preparitiou and dissemination of finall¢ial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 30 May 2024 and signed on its Ixhalf by.. Mrs Ruth Neill Trt¢e Mr Billie Neill Trustee Page 4
The Burning Bush Independent Examiner's Report to the trnstees of The Burning Bush I report to the trustees on my examination of th¢ accounts of The Bunjing Busb for th¢ Ye ended 31 August 2023. Responsibilities and basis of report As the charity's thjstees of Th¢ Burning Bush you ar¢ re5ponsibl¢ for the preparation of the a¢wunts in accordance with the requirements of the Cljarities Act (Northern Ir¢land) 2008. It is my responsibility to - examine the accounts under section 65 of the Chariti¢s Act - follow the procedures laTd dowi in the general Directions given by the Commission under section 65(9Kb) of the Charities A¢t - stste whether particular matters bav¢ corne lo my attention Ba515 of llldependettt examiller'5 report I have examined your charity accounts as required under section 65 of the Charities Act alld my exajntnation was carried out in accordanc¢ with tbe general dire¢tions given by the Charities Commtssion for Northern trelalld under section 65 {9)(b) of the Charities Act. My examination included tbe review of the accounting records kept by the charity and a cornparison of the accounts presented with those records. It also included considerdtion of any unusual items or disclosures in the accounts, and seeking eXplan10]iS from you es ¢harity tsu8te¢s ¢oncenJing any such matters. My role Is to sthte wh¢ther any mCrial ntters have cojne to my attentioD5 giving me cause lo believe:. l That accounting records were ttot k¢pt in accordance with secti(Trn 63 of the Charities Act 2 the aceounts do not aword with those accounting records 3 That the accounts do not comply with th¢ accounting r¢quirements of the Charities Act 4 That there is further information lded for a proper understanding of the accounts to be reached. ttidependent ex#rniner's statement I have completed my examination and have no ¢oncerns in resPt of the matters (l) to (4) listed above and. in conn¢¢tion with the following Directions of the Clwity Con]Jnissi¢m for Nortbern tr¢land, I have foulld no matters that require (frawing to your attention. ssociaies Limited Certified Pub]ic Accountant l Moyga5hel Milis Park Dungannon Co Tyone BT717DH 30 May 2024 Page 5
The Burning Bush Statement of Financial Activities for the Year Ended 31 August 2023 Unre$tricted rynd5 Total 2023 Note Ill¢otne and Endowments from: Dollation5 and legacie5 Other trading activities Total in¢ome 10,628 48,884 10.628 48.884 59.512 59,512 Expeoditure on: Raising fi]nds Other expendithr¢ (52,686) (568) (52,686) (568) Total expenditure Net income {53254 (53,254) 6,258 6,258 Net movement in fitllds 6258 6.258 Reconciliation of fullds Total fi]nds brougbt forward Total funds ¢aTried forward 63.987 63,987 16 70.245 Unrestrieted funds 70,245 Total 2022 Note Income and Endowments from: Donations and legacies Other trading activities Total income 12,013 47,007 12.013 47.007 59,020 59,020 Expenditure on: Raising fund5 Other expenditure Total expellditure Net income (43.345) (2,591 (43,345) (2,591) (45,936) (45,936) 13,084 13,084 Net movement in funds 13,084 13,084 Reconciliatiotl of futtds Total fimds brougbt fonvard Totsl fullds carried fi>rward 50,903 50.903 16 63,987 63.987 All of the charity's activities derive from conlinuing operatiODS during the above two p¢riods. The funds bakdOWn for 2022 is shown in note 16. The not¢5 on pages 8 to 14 foTm an illtegtal part of these financial statements. Page 6
The Burning Bush (Registration number: 101297) Balance Sheet as at 31 August 2023 2023 2022 Note Flxed assets Taugible assets 10 204 7,771 CurreDt 4ssets Stocks Debtor5 Cash at bank alld in hd 29,236 852 48,076 25,864 983 38,876 12 13 78,164 65,723 Creditors: Amounts falliug due withkn one year Net eurrent assets 14 5,273) {6,657) 72.891 59,066 Totsl assets less eurrent liabilltlel 73,095 66.837 Creditors: Amounts f811ing due after rnore than one year Net assets 15 {2,850) 70,245 (2,8501 63.987 Fullds of the charity: Unrestricted incon)¢ funds Unrestricted fidS 70,245 63,987 Totsl funds 16 70,245 63,987 The financial ststernents on pages 6 10 14 were approved by the trustees. and authorised for tssue on 30 May 2024 and signed on their b¢ha]f by: Mrs Ruth Neill Truste¢ Mr Billie Neill Truste¢ The notes on pages 8 to 14 fom an integTal part of these fiuancial statements. Page 7
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 l A¢countlng polici Statement of collipliance The financial ststements have b¢¢n prepared in arxordance with the second edition of the Charities Statement of Recomrnended Practice ISSU in October 2019, the Financial Reporting Standard applicable in the United Kingdotu and Republi¢ of Ireland (FRS 102) al the Charities Act 2011. Ba$is of prepar4tio The Burning Bush rn¢ets the defjnition of a public benefit entity under FRS 102. The accounts (fin2n¢ial statements) have b¢¢n prepared wjder the historical cost ¢onvention with items reeoglli5ed at cost or trans¥tion value unless othenvi5e stated in the relevant note{s) to tbe5e accounts. Going eoncern The tDJstee5 Consider that there are rAO Mala1 uncertainties about the c]witys ability to continue as a going Oncern. Illcome alld endowments Voluntary income including donations, gifts, legacies and grants that provide Core funding or ar¢ of a general nature is reColS¢d when the charity has entitlement to the income, it is probable that the income will be received and the amount can be me&8ur¢d with sufficient reliability. Donadtsns le8acl Donations and l¢gacies are r¢¢OLSe& on a rweivable b&sis when receipt is probabl¢ and the amount can be reliably measured. Expenditure All expenditure is Te¢ognised once there is a l¢gal or constru¢tive obligation to that expenditure, it is probable settlement is required and the #rtjount can be measured reliably. All costs are allocated to the applicable endIture heading that aggregate similar c95ts to thai category. Where costs &Wll)Ot be directly atiributed to particular h¢adings they have been allocated on a basis consistent with the of resources, with central staff Costs allocated on the basis of time spen( and deprwiation charges allocated on the portion of tbe as5el's use. Other support costs ar¢ allocated based on th¢ spread of staff costs. Rttisingfunds Tbes¢ are costs incurred iti attrdcting voluntary income. tbe management of inv¢5tments and tbose illCUTr¢d in trading activities that raise funds. Page 8
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) Taxation The charity 1$ Considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets tbe definition of a chitable co]npany for UK corporation t&x purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories cover¢d by Chapter 3 Paft I I of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such incom¢ or gains are applied exclusivety to charitsble putposes. T¥ngible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at ¢(>sL less any subsequent aceurnulated depreciation and subsequent accumulated impairnient 105ses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or Valuatio less any estimated residual value, over their expected usefvl economi¢ life as follows.. Stock Stock is valued at the lower of cost and ¢5timated selling pric¢ less Costs to cojnplete and 5¢11, after due regard for obsolete and slow moving stocks. Cost is determined using th¢ fir5t-iD. firStllt (FIFO). Trade debtors Trade debtors are amounts due from c$t{erS for merchandise sold or services perforned iti the ordinary ¢ours¢ of business. Trade debtors are recogDised initially at the transa¢tion price. They are subsequently measured at amortised cost using the ¢ff¢ctive interest method, less provision for impairment. A provision for the impairment of trade debtors is tablished when there is objective evidence that tbe charity will not be able to collect all amounts due according to the original teTms ofthe receivables. Casb #Dd sh equlvalents Cash and c&8h equivalents cowprise cash on hand and Call deposits. and other sh¢)rt-tern highly liquid inVestettts that are readily convertible to a knowTA amount of ¢&8h and are subject to ell insignificant risk of clwige in value. Trade ereditors are obligations to pay for goods or services that have b¢¢n acquired in the ordillary course Of business from supplier5. Accounts payable are classified a5 cuent liabilities if th¢ does Dot have an uttconditional right, at the end of the reporting periol defer Settle¢llt of the creditor for at l¢ast twelve months after tbe r¢porting date. If there is an un¢onditional right to defer settlern¢nt for at least ttvelve months after the reporting dat¢, they are presented as non-cutrent liabilities. are recogllised initially at th¢ transaction price and subsequently measur¢d at amortised cost usrllg th¢ ¢ffective interest metbod. Pag¢ 9
The Burning Bush Iyotes to the Financial Statements for the Year EDded 31 August 2023 (continued) Fund structure Unrestricted income fijnds are general fid$ that are available for use at the trustees discretion in furtherdnce of the objectives of the charity- 2 Income from donations and legaeies Unrestrletrd funds G¢ll¢ral Totsl funds Donations aud legacies. Donations from individuals Gift ald reclaimed 8,584 2.044 8,584 Total for 2023 10,628 10,628 Totsl for 2022 12.013 12,013 3 Income from other trading aetivltles Unrestrieted funds General Total fund5 Trading income. Shop income fr(>m sale of donated goods and service5 Total for 2023 48.884 48,884 48,884 48,884 Total for 2022 47,007 47.007 4 Expenditure on raising funds a) Costs of trading a¢tivities Page 10
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) Unrestricted funds General Total Nots Costs of goods sold Other dire¢t Costs of activities for generating fimds Totsl for 2023 25.525 14.011 25,525 14,011 39,536 39,536 Totsl for 2022 39,055 39.055 Total costs 5 Other expelldltsre Ullrestricted funds General Total nds Note Depreciation, amortisation alld other similar eosts Totsl for 2023 568 568 568 568 Totsl for 2022 2,591 2,591 6 Net lneomitt0UtgOIHg resources Net incoming resources for the year include.. 2023 2022 Loss on disposal of fixed &ssets held for the charity'$ own use Depreciation of fixed assets 500 68 2.591 7 Tntstses remuneration 4nd expenses During the year the charity rnade the followitig transactions with trust¢¢$.' Mr Billie Neill Mr Billie Neill T¢ceived remulleration of £9.060 (2022: £3,775) during the year. 8 Staff eosts The aggregate pa)ToII costs weTr as follow5.' Pagell
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (eontinued) 2023 2022 Stsff ¢osts durlllg th¢ year were: Wage5 and salaries 13,150 4,290 No employee r¢¢¢ived emoluments of more thau £60,000 during the y¢ar 9 Taxatloll The charity is a registered charity and ts therefor¢ exempt from tsxation. 10 Tangible fixed assets Computer equipment Motor vehicles Total Cost At I September 2022 Disposals 10,000 (10,000) 362 10,362 (10,000) At 31 August 2023 362 362 DepreciatiOD At I September 2022 Eltminated on disposal$ Transfers 2,500 (2,500) 91 2,591 {2,500) 67 67 At 3 1 August 2023 Net book v8lue 158 158 At 31 August 2023 204 204 At 31 August 2022 7,500 271 7,771 Il Stoek 2023 2022 Stocks 29236 25,8 12 Debtors 2023 2022 Trade (kbtors 852 983 Pag¢ 12
The Burning Bush Notes to tbe Financial Statements for the Year Ended 31 August 2023 (continued) 13 Cash alld ¢a5h equlvalellts 2023 2022 Cash at bank 48,076 38.876 14 Credltors: atnounts falllng due within one year 2023 2022 Trade creditors Other creditors Accruals 2,414 2,259 600 2,31H 1,488 2,865 5.273 6.657 15 Creditors: amounts falling due after one year 2023 2022 Other loaDS 2.850 2,850 16 Funds Balance at I September 2022 Illeoming r¢sources R¢sourres expended B¥lan¢e #t 31 August 2023 Unrestrietsd fund$ General 63,987 59.512 (53,254) 70245 Balan£e #t I September 2021 Incoming reurCeS Resources expended Balance at 31 August 2022 Unrestri¢tsd funds Gen¢ral 50,903 59,020 (45,936) 63,987 Page 13
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) 17 Analysis of Ret a$$ets between fund$ Unrestrieted funds General Totsl funds at 31 Allgust 2023 Tangible fixed assets CUent assets Current liabilities Creditors over l y¢ar Total n¢t &%sets 295 78,164 (5,273) {2,850) 295 78,164 (5,273) (2,850) 70,336 70,336 Unrestricted funds General Total fullds at 31 August 2022 Tangible fixed assets Current assets Current liabilities Creditors over l year Totat net assets 7,771 65.723 (6,657) (2,850> 63.987 7,771 65,723 (6.657) {2,850 63,987 18 Analysis of net fullds Atl Septemb¢r 2022 At 31 August 2023 Cash at baDk and In hand 38,876 38,876 Net debt 38,876 Atl September 2021 38,876 At 31 August 2022 Casb atbank and in band 22,661 22,661 Net debt 22,661 22,661 19 Related party transActlODS Page 14
The Burning Bush Statement of Financial Activities by fund for the Year Ended 31 August 2023 Total Total Unrestricted Unrestrieted Funds Funds 2023 2022 Income and Endowmellts frow: Donalions and l¢gacies Other trading activities Total income 10.628 48,884 12,013 47,007 59,512 59,020 ExpeDditure on: Raising fimds Other expenditse (52,686) (568) {43,345) 2,5911 Total expenditllre (53254) (45,936) N¢t income 6,258 13,084 Net movement in fimds 6,258 13,084 Reconciliation of funds Total funds brought fornvard 63,987 50,903 Total funds carried forWd 70245 63,987 This pag¢ does not form part of th¢ statory financial statements. Page 15
The Burning Bush Detailed Statement of Financial Activities for the Year Ended 31 August 2023 Total 2023 Total 2022 Income and Endowments from: Donations and legacies (analysed below) Other trading aetivities (analy5ed below) Total in¢ome 10.628 48,884 12,013 47,007 59,512 59,020 Expenditure on: Raising fijnds (analysed below) Other expenditure (analysed below) Total expenditure Net inco¢ (52,686) (568) (43.345) (2,591) 53,254) (45,936) 6.258 13,084 Net movement in fimds 6258 13,084 Recolleiliation of ftsnds Total fimds brought forward Total fid5 canied forward 63,987 50,903 70,245 63,987 This page doe5 not forn part of the stststory fiDaD¢ial statements. Page 16
The Burning Bush D¢tailed Statement of Finan¢i41 Activities for the Year Ended 31 August 2023 (continued) Totsl 2023 Totsl 2022 Donttrlons tthdlegaclcf Appea]s and donations Gift Aid tax laimed 8,584 2,044 9.074 2,939 10,628 12,013 Other grading ucllville5 Sales of purchased goods 48.884 47,007 48,884 47,007 Ruis¥ngfunds Op¢ning stock Purchases C105ing stock Wages and sal2rie5 (25,864) (28,897) 29.236 (13,150) (3,900) (167) (1,300) (500} (70) (374) (303) (3,856) (375) (1,447) (44) (672) (240) (150) (613) (52,686) (24.723) (28,423) 25,864 (4,290) {2,925) (76) (998) (4151 (58) (284) (106) (2.777) 54) (2.411) (69) (684) Water rate5 LighL heat and power Insurance R¢pairs and nMinteDan¢¢ Telephone and f Printin& postsge alld 5tatioDery Charitable donations Sundry expenses Motor expenses Advertising Accountan¢y fees Payroll Fees Bank charges Credit card eharges (150} (466) {43,345} Other wemdllu Depreciation of motor vehicles Depreciation of office equipment (Profityloss on sale of tangible fix¢d &ss¢ts held for charitys own use (2,500) (91} (68) (500) (568) (2,591) This page does form part of the statutory financial statements. Page 17