CONNECT MINISTRIES ANNUAL REPORT AND FINANCIAL STATEMENTS ST FOR THE YEAR EIYDED 31 AUGUST 2024 Company Registration Nllmber: N1033172 Charities Registration Number: NIC10136D
CONNECT MINISTRIES ANNUAL REPORT AND FINAIYCIAL STATEMEIYTS FOR THE YEAR EDIDED 31ST AUGUST 2024 CONTENTS Pages Report of the Trustees Independent ExamiTJer'$ Report Siatemellt of Financial Activities (incotporaling income and expenditure account) ststement of Financial PositionlBal8nce Sheet Cash Flow Statemenl Notes to the fancIal statements 10- 15
CONNECT MINISTRIES REPORT OF THE DIRECTORS (INCORPORATING TRUSTEES, REPORT) The Directors (who are also the Inlee5) ar¢ pleased to prcsclll thcir aDELval report together With the financial statements of thc charkty for Ihe year endcd 3 Isi August 2024, which are prepared to tDcct the requiTemcnts for a directors. rcport nd accounts for Companies Acl purposes. The direciors have adopted thc provisions of the Companies Act 2006 and Accountiiig and Reporting by ChariTies.' StateTnen( of Recommended Practice applicable to charilie5 preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charilies SORP - FRS102), in preparing the annual report and financial statements of thc charity. Achievements and performanee Connect Ministries is a Christian charity with a desire to bring community transformation one life at a time - by coimeciing people frorn the place of their CUTTent iealiry to a GOd-fst. Jesus-centred, putyose-driven life. The Charity cndeavours to bring transfornialion by two approaches.. directly by fac¢-to-face beneficiary intern¢tions' and also. indir¢¢ily by supporting Ihe civil and social auihorities within the nllunAty. The Charity rnns and oversees so¢1 action projects across a number of communities WTthin a 20-miLe radius of its registered office. Those social action projects include, but are not limited to, Srreei reach, Ballymena Foodbank and we also have Baby Essenlials. We rnn Kids Reach, Sonshine Week community outreach programme in July where l OO+ church volvnl¢¢rs dedicated their tim¢. We have a flourishing Dream Caf¢. FuTnirurc minis, Community clean up and power washing. In the reporting period, couni5ess volunteers, once again showed their -servant heart,, investing many hours - estimated at more than 8,500 hours Ihroughout the year. supporting a connection to frontline govenimental and non-govenimenlal organisations. Thc support provided ranges from befriending to cmcrgcncy provisions in r¢sponse to crises, from k'ids, clubs lo drop in cafe providing hot mcals free of charge to circa 80 people each week, to practical help and support bringing cnyironmenlal improvement. Our voliii)teer and staff inveslrnent resulted in supporting individua15' jOUTneys IhrouEh alcohol, drug rehabilitstion. and engaging numerous people on probation, instilling hope into those Mryihout any. crethling opportunity for people lo find struLture and pu0$¢ as well as meeting thL immeth'ale needs of iodividuals and communities to alltviate poverty and improve SOCiY41 welfare. Connect also had the privile8e of leading 32 people into a new faith in Jesus. In 2024, we contsnued to be llY focused on responding to emergcncy provision of food, baby essentials and hy¥i¥ne items to our lo¢al cotntnunity through Ballymena FoodbaJ)k. OUT sthff team were entn15ted to arrllnge and help manage this and we engaged volunteers who delivered these supplies lo the homes of those wlio were in mosl need. Financial review and funds policv Durin8 thc year the Charity had total income of £115,513 and total ¢xpcnditur¢ of £120,601 resulting in a n¢1 d¢fi¢it of £5,088. The net deficit for the year as shown in the statetnent of fuLaD¢ial activities on page 7 has been transfeed to the company's fid5 and resulted in a decrease in total Charity funds from £46,743 10 £41.655. Details of the financial positioTJ of the Chariry al the year-end can be seen on page 8. At thc ¢nd of th¢ year tbe Charity had £8.838 cash at bank. IL is the aim of the Tnl¢¢$, if possible, to maintain an unrestti¢ted cash reservc cquivalent to that of two months expenditure. The company plans to continue IL8 activities in the forthcoming years.
CONNECT IVtINISTRIES REPORT OF THE DIRECTORS (continued) Objectfives and Activitie5 (and how they deliver public benefit) Purpose I Putpose.. To promotc thc benefii of thc inhabitanrs of Northern ITcland ihereinafter called 'th¢ area of bcE)efit') wiihoul distinction of s¢x, sexual orientation. race 01 of political, religious or other opinion by associating together thc said inbabitants and thc local authorities voluntary" and other organisations in a common effort ro relive poverty and to provide facililics in the interests of social welfare for the recreation and leisure time occupation with the object of improving the conditions of life of said InhabinIs. Open to all of ihe public in Nortbern Ireland. The provision of falilities for public u. Through the provision of clothing or food. The adoption of a moral framework which encourdges people to be good ¢itiz¢ns. Pioinolional matenals. Iniproved behavior. Improvement ir) social, emolional and physical wellbeing of participants. Improv¢m¢nt in a person or group's person andlor financial eircumstances. Beneficiaries- How they benefit.. How the bencfils can be demonstrated.. Purpose 2 Purpose: Beneficiarie8'. How tl)¢y b¢nefit.' How the benefits can be dcrnonstrated.. To advance the Christian religion. Open to all of the public in Northern Ireland. Access to public worship. Acce8s lo religious publications including sacred Icxts and liierature. Improved behaviour as a result ofbeing involv¢d in a public act of worship. Activities The Cliarity's main activities are as follows.. To communicatc, withess and implement the Gospel of Jesus Christ by means of example and ihe spoken and written word. To draw, ke. accept, endorsc, di8counl. execuic and issue promissory notes, bills, cl)eques and other instruments, and to opL'rate bank accounts in ihe name of the Company. To raise funds and to invite and receive contribulions; provided that in raising funds the Company shall iiot Iindertuke Rny pcmanent trading hctivilies and shall conforni to any relevant slatulory reLJulations. To promote the forn]alion andlor incory)oration of or to otherwise aLquire and fund from monies held by the Company as are not immcdiately required in dischargc of thc Company's other Objects ¢ither by the means of equity or debt such wholly owned non-cbaritable trading subsidiaries as the Company consideTS appropriate from time to lime. To acquire. alter, improve and (subject 10 Such Consents as Tnay be required by law) to charge or otherwise dispose of property. Volunteers The Trustees wish lo acknowledge their dccp appr¢ciation of those who give freely of their time by serving on committees and helping with oiganisations and other ministy aclivilies.
CONNECT MINISTIUES REPORT OF THE DIRECTORS (conlinued) ObJe¢tives and Activities (and how they deliver public benefit) (Continued) To ernploy such staff, who shall llot be direclois of ihe Company, as arc necessary for the proper pursuit of the Objects and to make all reasoJ]able and necessary provision for the payment of pensions and superannuation to staff and their dependents. To establish or support &ny charitable tTUSts. associations or institutions forn]ed for all or any of the Objects. To esthblish or secure the establishment of a Celltre and mainrain 8nd maiiage the same (whether alone or in co-operation with any local authoriiy or other person or body) in furthcrance of ihese Objccls. To co-operate with other charities, volunLlry bodies and stalutory auihoTities operating in rthCraDce of tlie Obj¢cis or similar Charitable putpos¢s and io exchange infomiaiion and advicc with them. To pay out of the funds of the Company the costs, charges and expenses of atld inCidlIa1 to the forniation and registration of the Company. Reference administrative detaily Registered Charity narn¢'. Charity Commission rcgisttation number: HMRC charity reference: Company registration number.. Principle office and registered office: Connect MiDiStrics NIC101360 XR22389 NJ033172 CIO Green Pastures, The People's Church l Faith Avenue The Gateway Ballymenu Counry Antrim BT42 3FF Director5 and Trustees of the Company The directors who held office during th¢ year. and in the period since 31 August 2024 kn the date of these accounts were approved, were as follows: MT. Robert Kingston Mrs. Sara Slephens (resigned 16 December 20241 Mr William Wilson Mr. Jeffrey Wright Struetureg governance llnd m4nAgement The Company is a chariry limited by guarantee without share capital. The c.ompany is governed by its Memorandum and Articles of Association dated 30th October 1997. Jn the event of tbe Company being wound up members are required to conlribute an amount nol exceeding £10. The Board is responsible for the overall governance of the Company with the day-tO•day tnanagcmcnt delegated kn responsible individuals. Directors are appointed in line with the Mernorandum and Articles of Association of the company. Th¢ Board of Diredors are also known xs Trusiees for th¢ puryse5 of the Charity Cornmission. The Trustees have had regard to the Charity Commission's Public Benefit requiremenL
CONNECT MINISTRIES REPORT OF THE DIRECTORS (continued) Risk management Thc diTeclors have conducled a review of ihe rnajor risks to which thc charity 15 cxposed. Financial risk is rcviewed Oll a monthly basis having due regard to ongoing income and expenses. Statement of directors, responsibilities The directors (Ivho are the trustees of Conncct MiDistrics) arc responsible for preparing th¢ directors 'report and the fillancial statements in &ccordance with applicable law and regulations. Company law requires the directors to prepare fanCIal statcmcnts for cach financial period. Undor that18w the directors have prepared the financial statements in accordance with Utlited Kingdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable law)- Under Company law thc dircctors must J)ot approve th¢ financial statemenis unless they Lre satisfied ihal they give a true ai)d fair view of the state of affairs of the cbari(abl¢ cornpany aiid of thc incoming resources and application of resources. including income and expeiiditure for tbar period. In preparing thcsc financial stalements, the directors ar¢ r¢quir¢d to: select suitable accounting policies and apply them consislenily- observe the methods and principles in the Charilies SORP-FRS102: make Judgements and accounting cstimates thai are Teasonable and prudent; state wheiheT applicable a¢¢ounting standards have been followed, subjcct to any material departUTes disclosed and explained in the fancial statement. and prepare the finan¢i&l statements on the 80ing concern basis unless il Is inappropriate to presume that the company will conlinuc in business. The directors are responsible for keeping adequate accounling records that arc sufficient to show and explain the charitable company's transactions and disclose with reasonable accuTa¢y al any lime th¢ fin4u]cial positioll of the charilable company and enable them to ensure Ihat the financiii l statements comply with thc Companies Acl ?006. They are also re5pon.%iblc for safeguarding the assets of the charitablc company and hence for raking reasonable sieps for the prevention and detection of fraud and o¢her igla[hIl¢s. Funds held as custodian trustee on behalf of oth¢rs The charity docs not hold any funds on behalf of others. Small comp#ni¢g provision ststement This r¢port has been prared in a¢cordaoce with the special provisions relating to companies subject lo the small cornpanies regime within Part 15 ofthe Companies Aci 2006. Approved by the Board on 6, May 2025 sAgned on its behalf by: Mr5 Robert Kingston TMstee
CONNECT MINISTRIES INDEPENDENT EXATrItNER'S REPORT TO THE TRUSTEES OF cof4NECT MINISTRtEs I report on tbe accounts for the year ended 3 1st August 2024 which are set out on pages 7 to 15. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's Iruslees consider th&t an audit is not required for this period under section 65{2) of the Charities Act (Northen] Ireland) 2008 (as amended) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 65(3) of the 2008 Ac lo follow the procedures laid down in the general Directions given by the ChaTity Cominission under section 65(9)(b) of the 2008 Act. and stale whether particular matters have come lo my aentiOn. Basis of Independenl examlner'5 report I have examined your charity accounts as required under seclion 65 of the Charities Acl and my examination was carried out in accordancc with the general Dircctioiis given by the Charity Commission foy Northern Treland under seciion 65(9)(b) of the Charities Act. My examination included a review of th¢ a¢¢ounting records kept by the chariry and a comparison of the accounts presented with those records. It also iiicluded consideration of any unusual iiems or disclosures in the accounts, and seeking explanations from you &s charity trustees Conceming any such matters. My rol¢ 15 to slate whcthcr any material matters have come to my altcnlion giving me caus¢ lo b¢lieve- That accounting records were not kept in 8ccordan¢e with seclion 63 of the ChArilies Act 2. That the ac¢ount8 do not accord with thos¢ sccounting records 3. Thal the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further infommtion n¢¢ded for a proper undersiaiiding of tbe aceounts to be reached. Independent exaKniner's statement I have completed my examination and have no conccm5 in Tcspect of ihe mattcrs {1) to (4) listed above and, in connecti] with following the Directions of tile Charity Collunission for Northern Ir¢land, I have found no matlcrs tliat require drawing to your attention. P¢ter Stevenson Member of the Institute of Chartered Accountants in Ireland Stevenson and Wilson 22-30 Broadway Avffljue Ballymena BT43 7AA 6° May 2025
CONINECT NttNISTRIES ST ATEMENT OF FINANCLIL ACTtVITIES INCORPORATING INCOME AND EXPEf4DITURE ACCOUIYT FOR THE YEAR ENDED 11- AUGUST 2024 Unr&stricted Funds 2024 Restricted Funds 2024 Tot?} 2024 Totdl 2023 Nole Incoming resources Donations received Charitable activities Investment income 56,533 55,980 3,000 112,513 3,000 92,752 9.000 Total incoTne 56,533 58,980 115,513 101,753 Resources expended Charitable activities Support costs Goveman¢e costs 2,042 56.118 2,700 33J14 26,427 35J56 82,545 2,701) 30,225 74,414 3,400 Total expendlture 60,860 59,741 120,601 108,039 Iyct incomel(expenditure) btfor¢ transfers {4,327) (761) (5,088) (6,286) TrAnsfer5 behveen funds 1,796 (1,796) Net movement in funds (2,531) (2,557) (5,088) {6,286) Reconciliation of funds: Total funds brought fonyard S,667 41,076 46,743 53,029 Total funds carried fonvArd 3.136 -18.519 41.655 46,743 The statemcnl of financial activities includes all gains and losses recognised in the period. All income and expenditure derives from continuing activities. Th¢ notes QD pages 10 to 15 fomi part of these accounls.
CONNECT MINISTRIES ST STATEIIIEIYT OF FINANCIAL POSITION I BALAP4CE SHEET AS AT 31 AUGUST 2024 {Corvpany registration number.. N1033172) 'ote 2024 2023 Fixed assets Tangible fLxed assets ?2,604 22,604 18,019 18.019 Current assets Debtors Cash at bank- general account Cash at bank- other ministry accounts io 25JOO 2,214 6,624 34,lJ8 25,300 1,444 13,870 40,614 Creditors: amounts due within one year li {15,087} (11,890) et current assets 19,051 28,724 Total nct #ysets 12 46,743 Unrestrlcted funds General funds TotAI unrestrleted funds 13 3.136 3,136 5,667 5.667 Restriettd funds 13 38,S19 41,076 Total charlty funds 41,655 46,743 The financial statcments have been Prared in accordance with thc provisions Mpplicable to companie5 subject to thc small companies, regirne under The Companies Act 2006 and with Charities SORP_FRS 102. The notes on pages 10 to 15 are an integral part of these financial slatcments. th The financial statements on pages 7 to 15 were approved by the Board of Trustees on 6 May 2025 and signed on its bchalf by: Mr Robert Kingston Tnte¢ ey Wrigbl Trustee The notes on pages 10 to 15 forni part of these accounts.
CONNECT MINISTRIES CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2024 2024 2023 Cash floTrv from operating activities Net outsoins rcsources Depreciation Increase in debiors Increase in cr¢ditors Trlet cash infloivl{outtlow) from operating #¢tlvltles (i,088) 3,415 (6,287) 4,610 (25.300) 3,045 (23,932) 3,197 1,524 Returns on investments and $ervl¢kng of finance Interest received Capital expenditure and financial iftvestment Purciwe of tangibl¢ fixed assets {8,000) {8.000) Iyet decrease in cash for the year 16,476) (23,931) Cash and cash equivalents at the beginning of the year 15,314 39,245 Cash and cash equlvalent at the cnd ofthe year 8,838 15,314 The notes on pag 10 to 15 form pa. of these a¢COUDts.
CONNECT MINISTRIES ST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 l. Company informatlon The Comparny is limited by guarantee and is illCOTporaied in Northern Ireland. The address of the regislered otTice is CIO Green Pastures, The People's Church, l Faith Avenue. The Gateway, Ballymena. Co Antrim BT42 3FF'. The financial statements were auihorised for issue by the Board ott 6 Nlay 2025. 2. Aeeounting policies The principal accountinE policies adopted, judgemen15 and key sources of estimation uncertainty in the prepllration of the financial statem¢nts are as follows: Basls of preparation The financial statements have been prcparcd on a ¥oin¥ wllc¢rn basis in accordanc¢ with Accounting and Reporting by Charities: St21emenl of Recommended Prdctice applicable io chariiies preparing their accounts iii accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ilalld IFRS 1021 _ {Charitics SORP (FRS 102)), the Financial Reporting Starbdard #pplicable in ihe Uk and Republic of Ireland IFRS I O?) and the Companies Aci 2006. The accounts are prcparcd ITh 51erling. which is the fiJn¢uonal Gurr¢ncy of the charity. The Company meets the definition of a public benefit entiry under FRS 102. Asseis and liabilities are initially recognised at historical rost and transaction value unless otherwise staled in the ielevant accounting policy notc(s). Preparation ofaccounts on a going concern basis The Company generally meets ils day lo day working capital ruIrementS from its annual incon)e. The TsteeS have obtained and reviewed cash flow forec&5ts for the coming ycar and based on these are satisfied that th¢ Company has r¢sour¢es io provide a reasonable expecthiion ihal it can continue to meet its finJnciaI obligations as they fall due for the foreseeable future. These fmancial statements have therefore been prepared on a going concern basis. Incoming resourees Donations received comprises 911 c2sh reLeivable for the ttccounting period. iiicluding Any related tax recoverable under Gift Aid. Income is rccognised when the Charity has established an enliilemcnl to Ihc income. For donalions this is typically upon receipt. Gift aid income is acctued in."espect of charitable donations already receipied. Rtsourees expended ResouTces expended are recognised in the p¢riod in which they are incurred. Charitable ¢xp¢nditure compris¢s Ibos¢ ¢05ts inawrcd by the charity in the d¢livery of its acuvities and serviccs to its beneficiaries. li includes both costs that can be allocated directly to sucb activities and those costs of an indirect nature necessary to support them. Short-term debtors and creditors Debiors and ¢redilors with no stated intcrcst ratc and rcceivablc or payablc within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting dale lo delern]ine if there is any evidence of potential impainnent. Any losses arising from impairnient are r¢co£nis¢d in the income statement in operating expense5. ID
CONNECT MINISTRIES li NOTES TO THE FINAP4CIAL STATEMENTS (continued) Accounting policles (continued) Tangible asstts The tsngible assets of the chariry comprise of plant and equipment and motor vehicles. Equipment is depreciated at a rate calculated to rcduce it to Tesidual valu¢ at the end of its expwted norn)al bfc on straight-linc b&sis at rates of 10 /(* OT 200/0 per annum. Motor vehicles ate depreciated at a rate calculaled to reduce them to residual value at the end of tbeir expected nornial life on a straight-line basis at a rate of 2(Y/o per annum. The ass¢ts' residual values and u5cful lives are reviewed. and adjusied. if appropriate. al the end of each reporting period. The effect of any change is accounted for pr05pectively. Tangible asgcts are derecogni5cd on disposal or whLD no future economic bcncfits are expected. On disposal, thc difference between the new disposal proceeds and the Carrying amounr is Tecognised in the ststement of financial activities and in¢luded in "charitable Actsvity expenditure" Cash and cash equiv¥lents Cash and cash cquivalents iu¢lud¢ cash in hand and cash at baTAks. Financial instrumenls The Company only has financial assets And financial liabilities of a kind thal qualify as b&sic financial instruments. Basic fanCIal instruments ar¢ initially recogDised al transaction price and sub5equ¢ntly measured at their settlement valu¢. Funds Funds are classified as either unreslrict¢d funds or restricted nds, defined as follows. Unrestricted funds are expendable al the discreiion of tlie trusiecs in furtherance of the objects of Ilie charity. If parts of the unrcslricted fvnds are ¢atThllrked al the dis¢rction of the trLlStees for a particular purpose. IhLy are desi8nat¢d as & separate fund. This designation bas an admini5traiii'e purpose only and does not legally restrict th¢ trusiees, discretion to apply the fund. Restricted ndS aTe funds subject io sp¢¢ifir rcquirements as io their us¢ which may be declared by th¢ doiioI or with thcir authority or created through legal proccsses, but still within the wider objects of the Charity. Pensions The Charity operates a defined contribution scheme for all staff. Employer contributions are charged through the incomL and expenditure account when in¢urred. 3. Critical Accounting judgemeDt5 and estimation unctrtalnty Estimatcs and judgm¢nts made in thc process of preparing the financial slat¢meDts are continually evaluated and are bascd on historical experience and oiher factors, including expectations of future events thal are believed to be reasonable under the ¢im$1ance5. The Trustccs do not consider that there are any critical judgments made in applying the Company's accountt'ng policies or thal ihere are any crilic81 accounting estimates or assumption5 wbich may have a significant risk of ¢ausing a material adjusthient to ¢unying amounts of assets alld liabilities within tbe next fmancial yeaT. li
COIYNECT [NISTRIEs li NOTES TO THE FINANCIAL STATEMENTS (eontiNHed) 4. Income resources Unrestricted Fllnds R¢stricted Funds 2024 Total Total 2024 2024 2023 Donations recelved From as8oeiated charities From individiials and COrate bodics 45.789 10,744 565JJ 7.812 48,168 55,980 53,601 58,912 112,513 38,419 54,333 92,752 ChRrit8ble aetivl¢ies Grant income 3.000 3,000 9,000 Investment income Bank interest received Total income 56,533 58,980 115,513 101.753 5. Resource5 expended Vnrestrlcted Funds Restricted Funds To¢al Total 2024 2024 2024 2023 Charitable activitie$ Charitable donations Activity Costs 356 356 35,000 35,356 1,170 29,055 30,225 2,042 2,042 32,958 33J14 Support costs Wages and salaries Propcrty costs Administrntion costs Depreciation and profiLlloss on disposal Other ¢xpenses 55,332 20,238 499 75,570 499 60.584 1,170 3,037 4,610 5,013 74,414 852 Jjii 1.527 26,427 852 104 3,415 2,209 82.545 682 56,118 Covernance costs Legal and professional fee5 2,700 2,700 3,400 60.860 59,741 120,601 108,039 12
CONNECT MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (conftnmed) 6. Transfers between funds Unrestriclcd fiaS are spcnt or applicd at the discTetion of th¢ 1nleeS lo further any of thc charity's PUTposes. Unr¢stricied funds can be used to supplement ¢xp¢nditure Dje from restricied funds. 7. Taxati Connect Ministries is recognised as J chariry for the pU5¢S of applicable laxation Icgislation and is ther¢foT¢ not subject to taxation on its charitable activities. 8. Analysis of stAff ¢osts, trustee remuneration and e%pense5, the cost of key management personnel 2024 2023 Salaries and wages National insurance cosls Employer pension contributions 68,403 5,676 1,491 75,570 55,041 4,407 I,l36 60,584 The average number of employ¢es during the period wa$ 3 {2023.. 3) No employees are in receipt of employee benefits in excess of £60,01)O. No tNstee or a persoll related to a Irust¢e had any personal interest in any contracl or transaction entered inlo by the ¢harily during the pcriod. Tlieie was no r¢muTheration paid lo Trnstee5 in ihc year ended 31 August 2024. No expenses w¢re incurred in respect of Trustcrs. 9. Tanglble fixed as5etJ Motor Vehicley Equipment Total Cost At 1$1 September 2023 Additions At 31. August 2024 61,719 12,750 8,000 74,469 8,000 82,469 61.719 D¢pr¢¢iation At I" S¢pl¢Mr 2023 Depreciation At 31" August 2024 49.875 1.890 51,765 6.575 1,525 8.100 56,450 3,415 59,865 Net bothk value at 315t August 2024 Nei book value at 31S1 August 2023 9954 11,844 12,650 6,175 22,604 18,019 13
CONNECT MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (conlinuedj 10. Deb¢or5 2024 2023 Loan to associated chariry, Compassion Ministries Grants receivable 22,300 3,000 25,300 22,300 3.000 25,300 The loan to Compassion MiThistrie5 is UDsecurcd, non-lnterest bearing alld is repayable on dcrnalld. 11. Creditors: amounts due within one year 2024 2023 Other creditors and accjuals 15,087 15.087 11,890 11.890 12. An91y$ls of total net assets Unrestrlcted General Reslricted Totwl Fixed assels 209 22,395 16.124 -18,519 22.604 19.051 41,655 Net Cuent &ss¢ts Total net assets at 31. August 2024 2.927 3,136 13. Funds olthe Company At 1st September 2023 At31st August 2024 IDcome Expenditure Trxnsfers Restrlctcd funds 41,076 41,076 58,980 58,980 (59,741) (59,741) 11,796) (1,796) 38,519 38,519 Unrestricted fund5 General fijnd 5.667 5.667 56.533 56.533 (60.960) (60.860) 1,796 1.796 3,136 3,136 Totgl funds 46.743 115,513 (120,601) 41,655 ose of restricted funds These funds are to be used towards the support of the ckLaritable work of the individual miiiistrÈes within the charity. 14
CONNECT MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (conftnued) 14. Re12ted party trADsactions 2024 2023 Included in incoming r¢sources are the following: Donation from asso¢iated charity, Grccn Pasturc5, The Pcoplc'5 Church Donation frotn associat¢d ¢harify, Compasslon Ministries 17,019 36,582 38,419 Included In resourccs txpended are the following: Donaiiotj to assoctal¢d charity, Compassion Ministries Included in current #$sets are the following: Loan lo assoLialed charity, Compassion Ministries 356 1,170 22,300 22,300 All of the abovc companies are related by virtye of conunon conitoE. No pa)Tnents were made io any of the Trustee5 diiring the y¢xr. 15. Capital And financial commitments The company had no capital or financial commilments at th¢ balance sheet dat¢ (2023.. £Nil). 16. Controlling Party During the year Connect Ministrie5 was und¢r th¢ conuol of the Trusttts (who are also the directots). 15