Charity registration number: 101297 The Burning Bush ADnual Report and Financial Statements for the Year Ended 31 AUg$t 2023
The Burning Bush Contents (continued) Reference and Administrative Details TnLStees' Report 2to3 Statement of TrtLStees' Responsibilities Independent Exatniner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t014
The Burning Bush Reference and Adrnillistrative Details Trustees Mrs Ruth Neill Mr Billie N¢ill Mr Matthew Neill Mr Stuart Neill Charity Registration Number 101297 Principal Office 62 Scotch Street Dungannon Co TyTon¢ BT70 7DH Independent Examiner Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungamion Co Tyrone BT717DH Page I
The Burning Bush Trustees, Report The trustees present the annual report together with the financial ststements of the charity for the year ended 31 August 2023. Objeetives and activities Publie benef The trustees main responsibilities are to increase knowledge of God's word through the Bible and other resources, mainly in Dunga[On and South TyTon¢ arei to offer comfort and support to families and persons in n¢¢d through siclo]ess, death and other issues, and to heEp support mlssions in Ireland and overse&s. The charity raises fimds through the sale of books and other religious resources in their bookshop & holding events such as concerts & breakfast mornings. Thi5 enables them to incTease religious knowledge within the Dungat)non and South DTone Area , to offer comfort to persons in ill health or neaTing death, or people with farnily problems. This also enables th¢m to increase capacity amongst missionaries to see the Christian faith improved, advanced and spread through the income d¢rived from the sale of these resources being re41istributed to the Teligious organisations. The trnstees confllrn that they have complied witb the requirements of the Charities Act (Northern Ireland) 2008 to have due regard to the publi¢ benefit guidance published by the Charity Commi55ion for Northern Ireland. Achievements and performance A challenging year with ongoing financial issues facing so many. p¢ople still calling into shop seeking help and advice with so many issues and struggles. As in previous years the shop has tried to help local missions and tract producers etc. Structure) governance and management Finaneial instruments Objeclives andpolicies The charity's activities expose it to a number of financial risks including credit risK cash flow risk and liquidity risk. The use of fjnancial derivatives is governed by the charity's policies appToved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative fujancial instruments for speculative purposes. Cashflow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Page 2
The Burning Bush Trustees, Report (continued) Credil rlsk The charity's principal fmancial assets are bank balances and cash, trade and other receivables. and investments. The charity's credit risk is prin]arily attributable to its trade receivables. The amounts presented in the balance sheet are n¢t of allowances for doubt1 receivables. An allowance for impairnlent is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid fld$ and derivatkve fjnancial instruments is limited because th¢ counterparti¢s are banks with higb credit-ratings assigned by international credit-rating agencies. The chlty has no significant concentration of cr¢dit risK with exposure spread over a larg¢ number of ounteTparties and customers. Liquidity risk In order to maintsin liquidity to ensure that sufficient funds are available for ongoing operations and tre developments, the charity uses a mixture of long-tern) and short-terni debt fmance. Furtber details regarding liquidity risk can be found in the Statement of accounting policies in the financial ststements. The annual report was approved by the trustees of the charity on 30 May 2024 and signed on its behalf by: Mrs Ruth Neill Trustee Mr Billie Neill Trustee Page 3
The Burning Bush Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the fjnancial statements in accordance with th¢ United Kingdom Accounting Standards (Unit¢d Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requir¢s the trustees to prepate financial statements for each financial year which give a ttve and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. tn preparing these fanCial statements, the trustees are requircd to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followeQ subj¢ct to any materlal departhres disclos¢d and explained in the financial statements. and prepare the fanCial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constimtion. The ttwtees are also responsible for safeguaTding the assets of the charity and henc¢ for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for th¢ matntenallce and integrity of the corporate and financial inforn]ation included on the charitable company's website. Legislation governing the preparation and dissemination of fjnancial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 30 May 2024 and signed on its behalf by: Mrs Ruth Neill Trustee Mr Billie Neill Ttee Page 4
The Burning Bush Independent Examiner's Report to the trustees of The Burning Bush I report to th¢ truste¢s on my examination of the accounts of The Burning B for the year ended 31 August 2023. Responsibilities and basis of report As the charity's trust¢es of The Burning Bush you are responsible for the preparation of the accounts in accordance with th¢ requir¢ments of the Charities Act (Northern Ireland) 2008. It is my responsibility to - examine the accounts undeT section 65 of the Charities Act - follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act - state whether particular matters have come to my attention Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in aocordance with the general directions given by th¢ Charities Commission for Northern ITeland under section 65 (9)(b) of the Charities Act. My examination included the review of the accounting records kept by the charity and a con]parison of the accounts presented with those records. It also included consideTation of any unusual items or disclosures in the accounts, and seeking explanations from you as charity truste¢s concerning any such matters. My role is to state wh¢ther any Material matters have come to my attentions giving me cause to believe:. l That accounting recoTds were not kept in accordance with section 63 of the Charities Act 2 That the accounts do not accord with those accounting records 3 That the accounts do not con]ply with the accounting requirements of the Charities Act 4 That there is fier inforn]ation needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above an(L in connection with the following Directions of the Charity Commission for Nortbern Irelall(L I hav¢ found no matters that require drawing to your att¢ntion. sociates Limited Certified Public Accountant l Moyg&shel Mills Park Dungannon Co Tyrone BT717DH 30 May 2024 Page 5
The Burning Bush Statement of Finaneial Activities for the Year Ended 31 August 2023 Unrestricted funds Total 2023 Note Income and Endowments from: Donations and legacies Oth¢r tradtng activities Total incom¢ 10,628 48,884 10,628 48,884 59,512 59,512 Expenditure on: Raising fimds Other expendithre (52,686) (568) (52.686) (568) Total expenditure Net income (53,254 (53,254) 6.258 6,258 Net movement in funds 6,258 6,258 ReeoDciliation of funds Total funds brought forward Total fimds carrÈed forward 63,987 63,987 16 70,245 Unrestricted funds 70,245 Total 2022 Note Income and Endowments from: Donations aThd legacies Other trading activities Total income 12,013 47.007 12,013 47,007 59.020 59,020 Expenditure on: Raising funds Other expenditure Total expenditure Net income (43.345) (2.591 (43,345) (2,591) (45,936) (45,936) 13,084 13.084 Net movement in fun(ls 13,084 13,084 Reconciliation of funds Total fimds brought forward Total funds Carried forward 50,903 50,903 16 63,987 63,987 All of the charity's activities derive from continuing operations during the above two periods. The funds br¢akdown for 2022 is shown in note 16. The notes on pages 8 to 14 forn] an integral part of these fllMncial statements. Page 6
The Burning Bush (Registration number: 101297) Balance Sheet as at 31 August 2023 2023 2022 Note Fixed assets Tangible &ssets io 204 7,771 Current assets Stocks Debtors Cash at bank and ill Ild 29,236 852 48,076 25,864 983 38.876 12 13 78,164 65,723 Creditors: Amounts falling due within one year Net Current assets 14 (5,273) (6,65D 72.891 59,066 Total assets less current liabilities 73,095 66,837 Creditors.. Amounts falling due after more than one year Net assets 15 (2,850) (2,850) 63.987 70,245 Funds of the charity: Unrestricted income funds Unrestricted funds 70,245 63,987 Totsl funds 16 70,245 63,987 The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 30 May 2024 and signed on their behalf by: MTS Ruth Neill Trustee Mr Billie Neill Trnstee The notes on pages 8 to 14 forni an int¢gral part of these financial ststements. Page 7
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 l Aecounting policies Statement of compliance The fmancial statements have been prepared in accordance witb the second edition of the Charities Statement of Recommended Practice issued in October 2019, the FinanciaI ReportitLg Standard applicable in the United Kingdom and Republic of treland (FRS 102) and the Charities Act 2011. Basis of preparation The Burning Bush meets the definition of a public benefit entity under FRS 102. The accounts (fmancial staten]ents) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Going eoDcern The trustees consider that there are no material uncertaintie5 about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the incotne, it is probable that the income will be Teceived and tbe amount can be me&sured with sufficient reliability. Donolions and legaeie Donations and legacies are recognised on a receivable basis when receipt IS Probable and th¢ amount can be reliably measured. Expenditure All expenditure 15 recognised once there is a legal or constrnctive obligation to that expenditure, it is probable settlement is required and the amount can be measuTed r¢liably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent. and depr¢ciation charges allocated on the portion of the asset's Use. Other support costs are allocated based on the spread of stsff costs. Raisingfunds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that Taise fimds. Page 8
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) Taxation The charity is considered to pass the tests set out in Paragraph I Sch¢dule 6 of the Finance Act 2010 and therefoTe it meets the definition of a charitable company for UK corpordtion tsx purposes. Accordingly, the charity is potentially exempt from tation in respect of income or capital gains received within Categories covered by Chapter 3 Part 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 exclusively to charitable purposes. Tangible red assets Individual fixed assets costing £0.00 or more are initially recorded at cosL less any subsequent accumulated depreciation and subsequent a¢cumulated impairment losses. Deprecfi2tion and amortisatioD Depreciation is pmvided on tangible fixed assets so as to write off the cost or valuatÉon, less any estimated residual value, over their exp¢¢frd useful economic life as follows: Stock Stock is valued at the lower of cost and estimated selling price less Costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is deterniined using the first-1 first-out (FIFO). Trade debtors Trade debtors are amounts due from customers for nJer¢handise sold or services perfoTtDed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impainnent. A provision for the impairn]ent of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original tern)s of the receivables. Cash and cash equivalents Cash and cash equivalent5 comprise cash on hand and call deposits, and other short-terni highly liquid investments that are readily convertibl¢ to a known an]ount of cash and are subject to an insignificant risk of change 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 cl&ssified as CUellt liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the Creditor for at least twelve months after the reporting date. If there is an unconditiotkal right to defer Settlement for at le&st twelve months after the reporting date, they are presented as nOn-CuenI liabilities. are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Page 9
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) Fund structure Unrestricted income funds are general fund5 that are available for use at the ttustees discretion in fiwtherance of the objectives of the charity. 2 Ineome from donation5 and legacies Unrestricted funds General Total funds Donations and legacie5' Donations from individuals Gift aid reclaimed 8,584 2,044 8,584 2,044 Total for 2023 10,628 10,628 Total for 2022 12,013 12.013 3 Income from other trading aetivities Unrestricted funds General Total runds Trading income. Shop incom¢ from sale of donated goods and services 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 activitie5 Page lo
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) Unrestricted funds General Total funds Note Costs of goods sold Other direct costs of activities for generdting fimds Total for 2023 25,525 14,011 25,525 14,011 39,536 39.536 Total for 2022 39,055 39,055 Totsl costs S Other expenditure Unrestricted funds Ceneral Total funds Note Depreciatio amortisation and other sinlilar costs 568 568 Total for 2023 568 568 Total for 2022 2,591 2,591 6 Net ineominwoutgoing resources Net incoming resources for the year include.. 2023 2022 Loss on disposal of fixed assets held for the charity's own use D¢preciation of fixed assets 500 68 2,591 7 Trustees remuneration and expenses During the year the charity made the following transactions with trustees.. Mr Billie Neill Mr Billie Neill received remuneration of £9,060 (2022: £3,775) during the year. 8 Staff costs The aggregate payroll costs were as follows: Page 11
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (continued) 2023 2022 Staff costs during the year were: Wages and salaries 13,150 4,290 No employ¢e received ¢moluments of more than £60,000 during the year 9 Taxation The charity is a registered charity and is therefore exempt from taxation. 10 Tangible fixed assets Computsr equipment Motor vehicles Total Cost At I September 2022 Disposals 10,000 (i 0,000) 362 10,362 (10,000) At 31 August 2023 362 362 Depreciation At I September 2022 Eliminat¢d on disposals Transfers 2,500 (2,500) 91 2,591 (2,500) 67 67 At 3 1 August 2023 158 158 Net book value At 31 August 2023 204 204 At 31 August 2022 7,500 271 7,771 11 Stock 2023 2022 Stocks 29,236 25,864 12 Debtor$ 2023 2022 Trade debtors 852 983 Page 12
The Burning Bush Notes to the Financial Statements for the Year Ended 31 August 2023 (Continued) 13 Cash and cash equRvalents 2023 2022 Cash at bank 48,076 38,876 14 Creditors: amounts falling due within one year 2023 2022 Trade creditors Other creditors Accrllals 2,414 2,259 600 2,304 1,488 2,865 5,273 6,657 15 Creditors: amounts falling due after one year 2023 2022 Other loans 2,850 2.850 16 Funds Balance at I September 2022 Incoming resources Resources expended Balance at 31 August 2023 Unrestricted funds General 63,987 59.512 (53.254) 70.245 Balance at I September 2021 Incoming resources Resources expended Balance at 31 August 2022 Unrestricted funds Generdl 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 net assets between funds Unrestrieted funds General Total funds at 31 August 2023 Tangible fixed assets Cuent assets Current liabilities Creditors over l year Total net assets 295 78,164 (5,273) (2,850) 295 78,164 (5,273) (2,850) 70,336 70,336 Unrestrieted funds General Total funds at 31 August 2022 Tangible fixed assets Cunent assets Current liabilities Creditors over l year Total net assets 7,771 65,723 (6,657) (2.850) 7,771 65,723 (6,657) {2,850) 63,987 63,987 18 Analysis of net funds Atl September 2022 At 31 August 2023 Cash at bank and in hand 38,876 38,876 Net debt 38,876 Atl September 2021 38,876 At 31 August 2022 Cash at bank and in hand 22.661 22,661 Net debt 22.661 22,661 19 Related party transactions Page 14
The Burning Bush Statement of Financial Activities by fund for the Year Ended 31 August 2023 Totsl Total Unrestricted Unrestricted Funds Funds 2023 2022 Income and Elldowments from: Donations and legaci¢s Other Irading activities Total income 10,628 48.884 12,013 47,007 59.512 59,020 Expenditure OD: Raising funds Other expenditure (52,686) 568) (43,345) (2,591) Total expenditure (53254) (45,936) Net income 6,258 13.084 Net movement in fimds 6,258 13,084 Reeonciliation of funds Total funds brought forward Total funds carried fonvard 63,987 50.903 70,245 63.987 This page does not forn] part of the 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) Otber trading activities (allalysed below) Total income 10,628 48,884 12,013 47,007 59,512 59,020 Expenditure on: Raising funds (analysed below) Other expenditllr¢ (analysed below) Total expenditure (52,686) (568) (43.345) (2,591) (53,254) (45,936) Net income 6,258 13,084 Net movement in fiwds 6,258 13,084 Reconciliation of funds Total funds brought forward Total fimds carried forward 63,987 50,903 70,245 63,987 This page does not forn] part of the statutory financial statements. Page 16
The Burning Bush Detailed Statement of Financial Activities for the Year Ended 31 August 2023 (continued) Total 2023 Total 2022 Donalions and legacies Appeals and donations Gift Aid tax reclaimed 8,584 2,044 9,074 2,939 10,628 12,013 Other trading activities Sales of purch&sed goods 48.884 47,007 48,884 47,007 Raisingfunds Opening stock Purchases Closing stock Wages and salarie5 Rent Water rates Light, heat and power Insurance Repairs and maintenance Telephone and fax Printin& postage and stationery Charitable donations Sundry expenses Motor expenses Advertising Accountancy fees Payroll Fees Bank charges Credit card charges (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) (415) (58) (284) (106) (2.777) (354) (2,411) (69) (684) (150) (466) Other erpendilure Depreciation of motor vehicles Depreciation of office equipment (Profityloss on sale of tangible fixed assets held for charity's own use (2,500) (91) (68) (500) (568) (2,591) This page does not forni part of th¢ statutory fanCIal statements. Page 17