CONNECT MINISTRIES ANNUAL REPORT AND FINANCL(L STATEMENTS ST FOR THE YIAR ENDED 31 AUGUST 2023 Comp9ny Registratio￿ Number: N1033172 Charitiu Registration Nufflber: NIC101360 CONNEcf MtNISTRIES 5T ANNUAL REPORT AND FINANCL4L STATEME.NTS FOR THE YEAR ENDED 31 AUGUST 2023 CONIELY Pages Report of the Tru5tee5 Independent Examiner's Report Statement tsf Financial Activities {incorporating income and expenditure a¢coLtnt) Statement of Financial PositiornQalance Sheet Cash Flow Statement Notes to the fjnancial statements 10- 15 CONNECT MINISTRIES REPORT OF THE DIRECTORS (1Tr4CORPOIL4TING TRUSTEES. REPORT) The Directors (who &re also tbe trustees) are pleased to presellt their annual report t(Fgether with the financial stateEllent5 of the charity for the year ended 3 1st August 2023. which are prepared to meet the requirements for a directois, report jd accounts for Companies Act putPDSBS. The direEtors have adopted the provisions of the CDrnpaniBS Att 2006 and Accounting and Reporting by Chariiies.. Ststernent of Recommended Practice 8pplicable to charities preparing accounts in &ccordallce with the Fillancial Reporting Standard appliGabl¢ in th£ UK and Republic of ITeland {CharitlC5 SORP - FRS102}. in preparing the annual report and financial sta¢ements of the ¢hariry- Achievements and perform2llce ContLe¢t Ministries is a Christian charity with & destre to bring ¢ommuniry transformation one life at a time conrtccting people from the place of their current reality to a God-first, Jesus-centred, purpose-dTEven life. by The Charity endeavours to bring transforn)ation by two approa¢hes'. directly by face-￿-faCe beneficiary interactions,. &nd also, indirectly by supporting the cl￿1 and 50cial authorities within the GOtnTnunity. The Chariiy runs and oversees social action projects across a number of communities Wlthin a 20-mile radiu5 of it5 rtgistered office. Those socid actioll projects include. but are not litnited to, Stre¢t reach, Ballyrner￿ Foodbatth 5¢tving circa 2.555 people itt 2023 (last year 2,0001, we successfvlly re¢ruited a dedicated Foodbartk Project Nlallager, a￿d we also havt Baby Essentials. We run Kids Reach, Sonshine Week communityoutreach Programme in July where 100 church volunt¢ffl5 dedic3ted their tiTne. We have i flDunshing DrEatn Cafe, FurniturB ministry) Communjty cleatt up and power washing. In ibe reporting period. countless volunteers invested many more than 8,500 hours throughollt the year, supporting a connectiort to frontline govemrnental and non-8overnmental organisations. The support provided ranges from befriending lo elnergency provisions in respon5¢ to GrisE5. frotn kÈds' Glub5 to dTOP Ell Cafe Providing hot meals free of ¢harge to ¢ir¢a 75 people each week, to pr&ctical help 5UPPOrt bringing env￿￿EllentaI Improve￿¢llt. Our volunteer and staff investmtnt resulted in supporting individuals, joumtys through alcohol, drug rehabilitation, and enwdging 6 people on probation, lllstdling hope into those without ally, creating opportunity for people to find 5truGlure a￿d purpose as wcll a5 tne¢ting the immediate needs of indsTr'idua15 and communities to alleviate poi'¢rty and improv¢ social welfare. Conne¢t also had the privilege of l¢ading 25 peopl¢ into a new faith in J¢sus. Itt 2023. we continued to be fully focused on responding to emergency provision of food. baby essentials and hygiene ifrms to our local community thr(>ugh Ballymen& Foodbank. Our staff ttam atranged to help manage this and we engaged volunteers WI￿ delivered these supplies to the homes of those who were in most need. review funds poli¢y During the yeaT the Ch￿lty had total income of £101,753 and totsl expenditure of £108.039 resulting in a nei deficit of £6,286. The net d¢fi¢it f(Ir the year a$ shown in the statement of financial a¢tiviti¢s on page 7 has been transferred to the company's funds alld has resulted in a decrease ill total CharÉty filllds from £53,029 to £46,743. D¢tai15 Qf the financial sition of th¢ Charity at the year-end can be seej) on page 8. At th¢ end of the ye&r the ChaTity had £15,314 cash at bank. It is the aim of the Tr￿steeS. if possible. to maints1￿ an unrestricted cash ￿SerVe equiv￿¢￿t to that of iwo months exp¢ndEture. The company plans to continue tts activities in the fonhcomtng years. CONNECT MINISTRIES REPORT OF THE DIRECTORS (eontinued) Objeetives AetivÉties (and how they deliver public benefit) Purpo$¢ I Puryose.. To promote the benefit ofthe inhabitants ofNorthem Treland {hereinatier called'the area of benefit'l wiihoui distin¢tioll of sex, sexual orientation, rnce 01 of political, religious or other opinion by associating togethtr the said itthabitants and the local authontie5 voluntary other QTganisat10115 in a conunon effort to relive poverty and to providt facilitie5 in th¢ inter¢5ts of social welfare forthe recreation and leisure lllne occupatioll with the object of improving the conditions of life of said inhabitants. Open to all of the public in Northern Ireland. Thc provision of facilities for public use. Through the provision of clothing or food. The adoption of a moral framtw(>rk whith encouTages people to be good citizens. How the Promot2ODal materials. benefits can be Improved behavior. demonstrated.. Improvement in social, emotion￿ and physical wellbeing of participattts_ Improvement in a person or group's petson and/or financial ¢irCu￿StanC¢S. Ben¢ficiaTies'. Howthey benefit= Purpose 2 Purpose: Beneficiaries.. How tbey benefit.. To advance the Christian religion. Open to all of the public in Northern Ireland. Access to public worship. Access to religious publications including s&tred tBXts and Iiternture. Improved behaviour as a rEsult of being involved in a public a¢t of worship. How the benefits can be demonstrated.. A¢tivitie5 The Charity's main activities are as follows-. To coTrmuni¢ate, withes5 and itnplEmcnt the Gospel of Jesus Christ by means of ex&mple and the spokell and written word. To draw, make, accept, endorse, discount, ex¢¢ute and issue promissory llotes, bills, ¢heques and other Jll5trutnents, and to operate bar& acEounts in the naTlle of the Company. To Taise funds and to invite and r￿e1Ve contributions; provided that in raising funds the Cornpany shall not undertake an}. permanent trading activities and shall tonfr>rm lo any relevant statutory regulations. To promote the f¢>rniatEon andlor incorpor&tioTr of or to otherwise acquirE and fund froTn monies held by the Compgny as are not immediately required in disGharge of the Comp&ny's other Objects either by the means of Equity or debt such wholly owned non-Gharitable trading subsidEaries as the Company considers appropriat from titne to lime. To acquire, alt¢r, improve and {sllbject to su¢h ¢on5¢nts as rnay be reqUI￿d by law) to charge or DihBrwi$6 dÉspose of property. VoluThteer5 The TrusteE5 wisb to acknDwlBdge their deep appreciation ofthost who give freely oftheirtime by servingon committees an(f helping with or8anisatlOll5 and other n]inistry activities. CONNECT MINISTRIES REPORT OF THE DIRECTORS {LontEnuéd) Objectivcs and Activities (and hojv tb¢y deliver public beneflt) (conlinued) To employ su¢h staff, who shall noi be diiectois of the Company. as are nccEssary for the proper pvr5Uit of the Objects and to make reasonable and necessary provision for the payment of pensions and supeFaDnuation to staff and their dep¢ndems. To ¢5tabli5h 01 5UPPOrt any Ch￿l￿ble tTU5t5, ￿0CIatIDnS or institutions formcd for all or any of the Obj6cts. To establish or secure the establishment of a Centre and to maintain and manage the Sane {whtther alone or i co-operation with any local authority or other peison or body) in further&nce of these Objects. To ro-Dperate with other chariti¢5, voluntary bodie5 sta￿torY authoritie5 OPETating an fi]rthe￿o¢ of the Objects or simitar charitable purposes and to Exch￿ge illformation and advice with them. To pay out of the funds of the Company the costs, ¢lwges and expenses of and incidentsl to the fornjation and registration of the Company. RefereDee adrn1wj￿str#t1Ve detxils Registered charity name-. Chanty Cornrnission registrLtJon nutnber- HMRC ¢harity reference.. Cotnpany re8istratlOll number.. Prillciplt offtce and regisÉtred office-. cor￿ect Ministries NIC101360 XR22i89 N1033172 CIO Green Pastures. The People's Church l Faith Avenue The Gateway Bajlymena County Antrim BT42 3FF Dire¢toR3 and Trustee8 of the Company The directors who held offiGe duTing the year. and in the period since 3151 August 2023 to the date of these accounts were approwed, were as follows.. Mr. Robert KiJ)gston Mrs, Sara Steph¢ns Mr William Wilson Mr. Jeffrey Wright Struetsr< govtrllanee #nd maThagem¢nt The Company is a charity litnited by gUar￿te¢ Wlthout share capital. The Company is governed by its Memoralldum and Articles of Asso¢iation dated 30th O¢tob¢r 1997. kn the event of the Comp8n) being wound up rnernbers are required to contribute an amount not exceeding £1 O. The Board is responsible for the overall governance of lh¢ Company with the day-to-day managemtnt delegated to re5pon5ibl¢ individuals. DiiBctors aTe appointed ill lin¢ with the Mcillorandum Articles of Association of the company. The Board of Dire¢tots are also kDown as Tn)st¢es for the purpose5 of th¢ Charity Comtlli5510D. The Trustcts have had rtgard to the Charjty Commjssion's Public Benefit requirement_ CONNECT MINISTRIES REPORT OF THE DIREcfoRS (co￿lI￿￿Ed} Rlsk m&nAgemÈnt The directors have CDnducied a review of the major risks to which the charity is exposed. Fillancial risk is reviewed on a monthly basis having due regard to ongoing income alld expenses. Statement of directors, respon5ibilitTe5 The directors (who ue the trusites of Connect Ministries) are ￿SPonSible for preparing the directors 'rEport alld the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare fJnaDcial 8tatenents for each fjnancial period. Undertbat lawthe director5 have prepared the finanoial stat6ment5 in aGcordano6 with United Kingdotn Gen6r8lly Acc¢pt¢d Accounting Prathice (United Kingdom A¢¢ounting Stsndards 2nd applicable law). Under Company law the directors musi not approve the financial statements unless they are Satisfied that they give a trne and fair view of the state of affairs of the charitable compajy alld of the incOm￿g resouTC¢5 and application of resources. including incDTne and expenditurc for that period. In preparing these financial statements. the directors are required to.. select suitable accountlllg policies and apply them consistently., observe the methods and principlc5 in the CharRties SORP-FRSIO2,. akt judgements and a¢¢ounting esiimat¢s that ar¢ reasonable and prudeDL State whdher applicable a¢¢ounting stsnd￿dS have ￿en followed, subject to any maieri&l departures disclosed aod exp12ined in the fjnattcial statement. and prepart the finanGiaJ Stat¢￿ents on the going conGErn basis unl6s5 it 15 inapprtkpriat¢to pre51Tin¢th&tth¢ wmpany will continue in business. The directors arc respansible forkeepsng adeqllate accountingrecords that are sufficient to show andexplain the charitable company'stransactions alld di5c105e with¥easonable aGcuracy at ally titne the financial position of the charitable COTnpany and enable them tts ensllre that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable cornpany and hence for taking re￿Onable sttP5 for the PT¢vention detection of fraud and other ineglllarities. Funds held lls custodian trustee on behalfof others The charity does tjoi hold any funds on behalf of others. Smxll tomp8niw provision ststement This report has been piepar¢d in a¢¢ordan¢e with the spe¢ial provisions relating to ¢ompanies subject to the sn]all companies regime within Part 15 of the Companies Act 2006. Approvd by the Board on 23 April 2024 signed oll its behalf by.. Mts Sara Stephens T￿tee CONNECT MINISTRIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CONNECT MIMSTRIES I report on the accounts for the year endtd 31 st August 2023 which aTe set out on pages 7 to 15. Respectiv¢ responsibilities of trustees and ex2miDer The cEwity's trustee5 resp)nsible for the preparation of the aGcounts. The charity's trustees consider that an audit is not required for this period under sectiot] 65(2) of the Charities Act (Northern Ireland) 2008 (as amended) and that an independettt examination is needed. It És my responstbility to: examine the account5 und6r section 65131 ofthc 2008 AGt., to follow th6 prooedure5 laid down in tht general Directions given by thc Charity Cotntni5sion utLd¢r section 65{9)Ibl of the 2008 Act. and to state whether particular matters have come t(k rlly attention. BASIS of independent examiner's report T have examined your charity accounts as required utjder section 65 of the Charrities Act and my examination was carried out in ac¢tsrdan¢e with the general Directions wven by the Cknarity Commission for Northem Ireland under seeiion 65{9)Ibl of the Charitie5 Act. My examination included a review of the accounting records kept by the charity alld a ¢ompaTiSO2] of the accounts presented with those records. It also included ￿nSideratiOn of any unu5u&I items or disclosure5 Ill the ￿cOunt5, and seeking explanatlOtI8 from you &$ charEty trustees concerning any such rnatters. My role is to state whether any material matters have come io my att¢ntion giving me cause to beli¢ve.' Th&t aG¢ounting r¢wrds wer¢ Dot kept in a¢cordan¢e with section 63 ofthe ChaFities A¢t 2. Th&t the a¢¢ounts do not accord with those a¢¢ounting r¢¢ords 3. That the aGGounts do not CDThply with the wcounting requiTemellts of the Charitie5 Act 4. Th&t thei¢ is further information needed for a proper understanding of the awounts to be reached. Independtnt examiner's statenjeot I have co]npleted my examination and havE no concern5 Ill respect ofthe matters (l) to {4) listed above and, iJ] connection with lollowing the Directions of the Charity Commission for Northern Ireland, I have follnd no matters that require drawing io your attention. Peter Stevenson Mernber of the Institute of Chartered AccouT]tsDts IrelaThd Stevcnson and Wilso 22-30 Br02dway Avtnuc BallyTllBna 23¢d Apnl 2024 BT43 7AA CONNEcf MINISTRIES STATEMEwf OF FINANCL4L ACTIVITIES INCORPOtL4TING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST AUGUST 2023 Unrestricted Funds Restricted Funds Total ott 2023 2023 2023 2022 Jneoming resources Donatlolls rtceived Challtable a£tEvEties lrtvestment income 45,127 1,000 47,625 8,000 92,752 9,000 44,1.57 88,323 32 Total income 46,127 55,626 101.753 132,512 Resources expended Charitsble artiviiies Support Costs Govemance ¢osts 619 57,189 3,400 29.606 17225 30,225 74,414 3.4(N) 79,200 72,166 2,900 TotY41 expenditure 61,208 46,831 108,039 154.266 Net incomellexpenditurel before trall5fers (15,081) 8,795 {6286) 121,754) Trgn$fÈr$ between furnds {2.943) 2,943 L¥et movement funds (18,lJ24) 11,738 {6,286) 121,754) Recontiliation of funds: Total fund5 brought foTward 23,691 29J38 53,029 74.783 Totsl thnd$ ￿rrIed forw#rd 5,667 41,076 46,743 53.029 The statement of financial wtivities includes gains and losses reco￿lS£d ill the period. All income and exp6nditurc derives from continuing activities. The LlOt¢s on pages 10 10 15 for￿ pan of th¢se accounts. CONNECT MINISTRIES STATEMEiYf OF FINANCIAL POSITIODI I BALANCE SHEET AS AT 31ST AUGUST 2023 (Compatiy registration lluniber.. N1033172} Note 2023 2022 Fixed assets Tangible fixed assets 18,019 18,D19 22,629 22,629 Current assets Debtois Cash at bank- g¢neral account Cash at bank- other mini5ty a¢counts 10 25,300 1.444 13,870 4D,614 32,119 7,126 39,245 Creditors.. #mounts due wAthim year {Jl,890) (8,8451 Net current #ssets 28,724 30,400 Totsl net assets 12 46,743 Unrestricted fu￿dS General futtds Totxl unrestricttd lunds 13 5.667 5,667 23,691 23.691 Restricted fund8 13 41,076 29.338 Total charity funds 46.743 53,029 The financial staternents have been preparBd ill accoTdallce with the provi510n5 applicable to cotllpauies subj¢Gt to the small companies, regime under The Companie5 Act 2006 and with Charities SORP-FRSIO2. The notes on pages 10 to 15 are an integral part of these financial statements. The financi￿ statements pages 7 to 15 were approved by thc Board of Truste¢s on 23 April 2024 and signed on its behalf by= Mis Sar& Stephens Trusts¢ Mr Robert Kingston Trustee The ttottt on pages 10 10 15 fomi part of rhese accounts. CONNECT MINISTRIES CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2023 2023 2022 Cash flow from operating activities Net incom￿￿(0Utg0irtg) resources DepreciationlpTofiti(loss) on disposal Inct¢ase in debtors Incr¢as&(decreasel iii Gr¢diioTS Net cAslL oufflow from operatiDg activities (6,287) 4,610 {25,300) 3,045 (23,932} (21,7861 5,517 (7,4151 {23,6841 Returns on investmeRts servicing of finallce Interest received 32 C#pit#l expenditure and fin*neial investment Purchase of tangible fixed assets Sale of tangible fixed assets (521) 2.000 1,479 Net decre2se in cash for the year (23,931) (22,173} Cash alld cash equivaltnts at the beginlling of the year 61.418 CY45h and cash equiwal¢nt at th¢ end of tbe ye#r 15,314 39,245 Th¢ Doles on page5 10 to 15 fomi part of these accounts. CONNECT MINISTRIES SY NOTES TO THE FINAIYCIAL STATEMENTS FOR TItE YEAR ENDED 31 AUGUST 2023 l. Company information The Company Is limited by gu&rantee is incorporated in Trt'orthern Irelalld. The address of the reg¥stered otTice is CIO Green Pastures, The People's Church. l Faith Avenue, The Gateway. Ballytnena, Co Antrim B T42 3FF. The finan¢ial statetllents were authorised for issue by the Board on 23 April 2024. Actounting policies The princip￿ accounting policies adopted. judgements and key sources of estitnation uncertainty in the prq)aration of the financial statements are as follow5.. Basis of prepargtio The financi&l statements havB btten prepared a going concetn basis in accoidancc with Accounting and Reporting by CharEties.' Statementof RECQmTnendBd PradiGe applicable to charities preparing their acEounts in accoFdancB Wlth the Financial Reporting StsDdard applicable in the LW and Republic of Ireland {FRS 1021- ICharitlBS SORP IFRS 1021}, the FinallGial Reporting Standard applicable in the UK and Republic of lF¢land (FRS 102) alld the Companies Act 2006. The accounts prepared 5terliug. which is the fvnctiollal cU￿¢￿￿Y Df the chaTIty. The Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless othenwise slated tn the relevant accounting policy notelsl. Preparation of account5 on a goiRg concern basi5 Thr Con]pany gen£Fally ￿tel$ its day to day working Capital reqU￿￿[￿ents its aEmuai income. The Tn￿te¢S hav£ obtained and r¢vicw¢d cash flow fore¢asts foith¢ ¢oming y¢8T and based on these aF¢ satisfied thatthe Company has resources to provide a r6asonabl¢ exptctation thal it can continue to mect its finarkcial obligatl0115 as thty fall due for the forcse6able futUTe. These financial statetnent5 have th£refore been prcpared on a going conc¢rn basis. Ineomillg resources Donations received CDmprises all cash receivablt for the aCCDJnting period, illcluding any related tax recoverable under Gift Aid Income is recognised when Ihe Charity has established an entitlement to the income. For dLinations this is typically upon receipt. Gift aid illcome is accrutd in respect of charitable doiiations already receipted. Resources expended Resources expended are re¢ognised in the period in ivhich they are Incu￿ed. Charitable expenditure COrnPTises ihose costs inCu￿ed by the Charity lll the delivery of its activitie5 and services to its belleficiaries. It includes FA)th costs that can be allocated directly to such &ctivities and those costs of an indirect nature necessary to supw)rt them. Short-term debtors creditors DebtOTS and creditor5 wqih no stated interest rat¢ and receivable or payable within one year recorded at ts2nsaction price. Financial assets, including debtor5, are reviewed at the reporting date to determine if there is any evidence of poteiitial inpairn)en1. Any losses arising from impairrnent are recognised in the income statement in operat￿£ ¢yp¢nses. CONNECT MINISTRIES Tr40TES TO THE FtNAF4CIAL STATEMENfs (coptftNuéd) 2. AceouDting polici￿ (continued) Tangible sssets The tangible assets olthe charity comprise of plant and equiprnent and motor vehicles. Eqllipment is depreciated at & rate calculated to reduce it to residual value at the end of its expected normal life on a straighi-line basis at rates of IOO/o or 200/0 per annum. Motor vehicles are d¢pr¢¢iated at a rar¢ calculated to reduce thern tQ Tesidual value at thB Bnd Df thejr expBCted normal life on a 5traighl-line bas15 at a rate of 200/• per annurn. The ￿sets, r¢sidual values and useful lives are r¢viewed, and adjusted. if appropriate. at the end of c&ch reporting period. The effect of any change is accout)IEd for prospectively. T£ngible assets are derecognised on di8P05al or when no futur¢ economic benefits are expected. On disposal, the differenee benveen the new digposal proceeds and the carryitjg amount is recognised in the st2tement of financial a¢tiwities and included in"¢haritable a¢iivAty ¢.¥p¢ndEture" Cash and eash equivalents Cash and c&sh equivalents include cash in hand aThd castL at banks. Fina]Rcial iD5trun]ents The Company only has fjnancial assets and fJnan¢ial liabilities of a kind that qualify as basic financial instruments, Basic financial instruments are initia]ly recognised at ttansaction pric¢ and 5ub5equently tneasured attheir Sgttle￿Cllt value. Funds Funds are cla55ified a5 either unTe5tricted fi]nd5 or restricted ￿llds, defined ￿ follows. Unrestricted fi￿dS are exptndable at the discretloll of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretlDn of the trustees for a particular purpose, they are designated as a separate fulld. This designation has an administrative purpose only and does not legally restrict the ttustees. dEscretion to apply the fund. Restricted fimds are funds subject to specific requirem¢nts as to their use which may be declared by the donor or Mith their authority or Created tbrough legaj processes, but still withill the wider objects of the Charity. Pension5 The Charity operates a defined contribution scheme for all staff. Employer ¢ontributions are charged through the income and expenditure %￿o￿￿t when incurred. 3. Crittcal accounting judgements and estln12tion uncertginty E5timales and judgmtnts made ill th¢ proc¢s5 of preparing the fillancial statements are continually eV￿llated and are based on hi5toricaI experience and other factors, including exp¢¢taiions of future ¢vents thai are believed to be re￿onable Ulldtt the circumstances. The Trusttts do not Eonsider that there are any critical judgrnBnts fftade In applying the Company's aceounting policies or thai there ale any critical a¢¢ounting estimates or assumptions which may have a significant risk of Gausing a ￿at¢￿al aajustrnent to GawiTEg an]ounts of a5set5 and liabilities wthin the next financial year. CONNECT MiNISTRIES NOTES TO THE FINANCIAL STATEMENfs (conhnHed) 4. Income restsurces Unrestrieted Fund5 Restricted Funds Total Totsl 2022 2023 2023 2023 Donatlons reeetved Froin associated charities 25JOO 13.119 38,419 17.151 From associated companies Fro]n individuals and GofpoTate bodies 19.827 45,127 54 J33 92,752 27,006 44.157 47,625 Charltable adlvltles Grant incotne 1,000 8.000 9.000 88,323 Inwesttnent illcome Batjk interes( received 32 Total incoThe 46,127 55,626 101,753 132,512 5. Resour¢u ¢xp¢nded Unrestricted Funds R£stricted Funds 2023 Total 2023 Total 2023 2022 Charitable activities Charitable dOnat￿OnS 1,170 28,436 29,606 1,170 29.055 30225 62,718 16,482 79,200 Activity costs 619 619 Support Costs Wages and salaries Property GOSt5 Admini51iatlOR C05tS Depreciation and profivloss on disposal Other expellses 53,007 895 7,577 275 60.584 1,170 3,037 4,610 5,013 74,414 54.837 5.936 2,034 5,517 3,842 72.166 343 2,694 4,506 2,173 17,225 104 2,840 57.189 Gover￿1￿¢¢ eosts Legal and professional fees 3,400 3,400 2.900 61,208 46,831 108,039 154,266 CONNECT I￿[NIsTRIEs NOTES TO THE FINANCIAL STATEMENTS (Continued) 6. Transfers between funds Ullrestricted ￿rndS are spent or applied at the discretion of the trustees to fi)rther any of the charity's puryoses. Unrestricted fvnds can b¢ used to supplement expenditure tnade from iestriGt6d fvnds. 7. Taxation Connect Ministries is recognised as a chariry for the purposes of applJEable taxatioti Itgislation and is thereforE not subject to taxation on its chariiablt activitjes. 8. ADaly5is of staff costs, trustee remuneration ond expenses, and the cost of key mallag¢m¢nt persoDnel 2023 2022 Salaries and wages National insurance costs Employer pension contributions 55,041 4,407 1,136 60,584 49,567 4.171 1,099 54,837 The average number of e￿P10YteS during the period was 312022.. 31 No employees are in receipt of employee benefits in excess of £30,000. No trustee or a person related to atru5te¢ had any personal interest in any contract or transa¢titstL ¢ntrr¢d into by the charity dU￿Rg th¢ ptriod. There wa5 no remunwation paid to Tnjstees in th¢ year ended 31 August 2023. No 6xpen5¢s were incurred in T¢SPtd of Tru5t6e5. 9. Tangible fixed gssets Motor Vehicles EquipTnent Totaj Cost At Septen2bBr 2022 Additions 61,719 12.750 74,469 At 31" August 2023 61,719 12,750 74.469 Depreciation At 1° September 2022 DeprecEation At 31¥( August 2023 46,940 2,935 49,875 4.900 1,675 6,575 51.840 4,610 56,450 Lyet book vglut at 31st August 2023 Net book vallle at 31" August 202? 11,844 14.779 6.175 7,8<0 18,019 22.6?9 13 CONNECT MtNISTRIES li NOTES TO THE FINANCIAL STATETrIEIYTS {coNtiRugd) 10. Debtors 2023 2022 L(￿￿ to associated charity, Compassion Ministries Grdllts recetv&ble 22JOO 3,000 25,300 The loall to Compassion Ministries 15 illl5ecured, Eion-interest bearing and is repayable oll dtmand. I l. CredStors: amounts dlle withln one year 2023 2022 Other creditors and accruals 11.890 11,890 8,845 8,845 12. A￿alySiS of tothl Thet as$ets Unrestricted General Rostricted Total Fixed &ssets Net current assets 313 5,354 5,667 17,706 23,370 41,076 18,019 28,724 46,743 Total net assets at 31¥¢ August 202J 13. Funds of the Company At 1st Septejllber 2022 At 315t August 2023 Income Expenditure Tramsfe Restricted funds 29,338 29,338 55,626 55,626 146,8J l) 146,831) 2,943 2,943 41,076 41,076 Ullrestricted funds Getseral fund 23,691 23,691 46,127 46,127 161,208) 161,208) 12.94Jl 12,94Jl 5,667 5,667 Tot41 funds 53,029 101,753 {108,039} 46,743 ose of r¢5tri¢ted fLmds Thcst funds are to be used towards the support of the charitable work of the individual ministries within the charity. CONNECT MINISTIUES NOTES TO THE FINAP4CIAL STATEMENTS (coptftnued) 14. Financial RnstTuments At the balallce sheet date the Company held the following f￿anCIal instrutlltnts.. 2023 2022 Financial assets that are debt instrLunents Int￿ured at amortised cost 40,614 274 39,245 309 Financial liabilities measured at atnortised cost 15. Rtl#t¢d party trans3etions 2023 2022 Included re5OUTce5 xre the fDllowing= Donation from associated charity, Gretn Pastures, The People's Church Dollation from associattd charity. Compa55ion Mirustrits Contribution ts)wards expenses from associated ¢L)mpaAy. The Gateway Social Invesiment Limited 38,419 16.451 700 600 Inoluded in resoure¢s expended &rt the following: Doiiation to associRted GI￿rity. Green PastUTes, The People's Church Donation to a5sociat¢d charity. CotrLpa55iofL Ministries Contribution towards expenses io associaied charityj Green Pa5ture5. The PEoplc's Church Re-imburs¢meM of ¢xp¢nses io associated Ch￿lty, Compassion Ministri65 197 1,170 5.245 9,521 Iu¢lud¢d ill eurrent assets #Te the ftsllowillg- Loan io associated charity, Cornpassion Ministries 22,300 All of the abov¢ companAes are related byvirtue of ¢ommon control. No payments w¢re Tnade to any of the Trustees during the year. 16. Capital and fJD#neial Com￿1*￿￿ellts The company had no Capital or financial ¢ommitments at the balance Sheet date (2022.. £Nil). 17. Controlling p&rty During the year Connett Ministries was under the contrtsl of the Trustees (who are also the dire¢tors}.