Charity registration number: 101422
## An Invitation To Love Jesus
Annual Report and Financial Statements
for the Year Ended 31 December 2024
## **An Invitation To Love Jesus**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 6|
|Statement of Trustees' Responsibilities|7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9 to 10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 to 24|
## **An Invitation To Love Jesus**
## **Reference and Administrative Details**
**Trustees** Mrs Bridget Madden, Treasurer Mrs Marie Madden, Treasurer Mr Colum Donaghy, Treasurer Mrs Pauline O'Kane, Chairperson Mrs Oonagh Donaghy, Secretary Mrs Agatha McKay, Committee Member Mrs Geraldine Rushe, Vice Chairperson Mrs Anne Foster, Committee Member Mrs Aine Mohoric, Assistant Secretary Mrs Heather John, Committee Member Mrs Michelle Liddle, Committee Member Mrs Margaret Gallagher, Committee Member **Key Management Team** Mrs Bridget Madden, Treasurer Mrs Marie Madden, Treasurer Mr Colum Donaghy, Treasurer **Charity Registration Number** 101422 **Principal Office** 46 James Street Cookstown Co. Tyrone BT80 8LT **Auditor** McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS **Bankers** Danske Bank PO Box 183 Donegall Square West Belfast BT1 6JS
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## **An Invitation To Love Jesus**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.
## **Objectives and activities**
## **Public benefit**
The principal objective of the charity is the advancement of religion. The public benefits of the charity are:
1. The prevention or relief of poverty
2. The advancement of religion
3. To promote healthy recreation and education in equestrian sport
4. Other charitable purposes
The Trustees confirm that the charity has complied with the public interest statutory guidance issued under section 4 of the Charities (Northern Ireland) Act 2008.
## **Review of activities, achievements and performance**
## **Activities**
Our doors are open to all denominations. We primarily offer a place of Prayer and Retreat for all. We offer organised times of retreat and private retreat. We provide a listening ear to those experiencing difficulty or trauma in their lives and support them in whatever way possible. We refer those who we cannot assist to the relevant agencies and offer help and support when necessary. We have an open prayer room and weekly prayer meeting in the House of Prayer. We have set up other Houses of Prayer throughout the world and continue to make these fit for purpose as and when funds allow.This year we replaced the roof of our House in Slovenia. We also continued with various maintenance and minor renovation tasks on the Houses abroad and made safe roofs on our Houses in Germany and France, with the aim of having these roofs replaced. We were also able to complete essential maintenance and renovation with our House in Cookstown. We replaced floors, ceilings, fitted two new kitchens and updated our electrics.
We publish and print a monthly newsletter for anyone wishing to receive it in UK, Ireland and Europe. A three-monthly edition is sent out to the rest of the world. We further seek to promote Christianity through our music ministry who perform, at least every two weeks, at Church services. These services have no fee attached. We reach out to the young within our community and provide a soup kitchen at weekends which promotes Christian values to the young by our example. Soup, tea and coffee are available at no charge, and we are also there to assist the youth with other problems which they may encounter after a night out. We also reach out and seek to relieve the suffering of others through street collections for 'The Forgotten Poor'. We operate this along the guidance of the Bible to 'feed the hungry, clothe the naked and give the thirsty a drink' and try to reach out to those who are not being helped by the larger charities, specifically those who are forgotten. As we all work on a voluntary basis one hundred per cent of all donations given to ‘The Forgotten Poor’ go directly to the cause. We have a charity shop selling used clothes, footwear etc and sell these at lower prices than other shops. We also have a religious goods shop which provides a service to the general public. Any or all profits go directly towards the charity and its objectives. Our equestrian centre is up and running and we are fulfilling our objectives of promoting healthy recreation and education in equestrian sport.
## **Performance**
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## **An Invitation To Love Jesus**
## **Trustees' Report (continued)**
In this year from 1 January 2024 to 31 December 2024 the charity continues to work toward achieving all our objectives. We have our community prayers four times per day, seven days per week. We also have our special days of prayer and weekly prayer meeting. All of these are open to the public and are promoted on our Facebook page and by means of various posters in our front window and notice board. We are still live streaming all the prayers through our Facebook page and on YouTube. We set out below how we met our objectives in this financial year:
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## **An Invitation To Love Jesus**
## **Trustees' Report (continued)**
## **The prevention or relief of poverty**
We have continued with the sponsorship of two Indian children thus enabling them to continue with their education. We have also given small grants to various projects. We continue to try and reach those who do not benefit from the help of the larger charities and concentrate on the immediate effects of hunger. We send donations to various individuals with feeding missions such Kibera slum in Kenya and a feeding programme in East Godavari, India. We organise special street collections for the Forgotten Poor monthly. We continued to make specific donations to religious individuals in poor overseas countries.
## **To promote healthy recreation and education in equestrian sport**
The charity owns and runs a property used as a cross community recreational equestrian centre. To further our objective of promotion of religion we show Christian values by our care of those availing of lessons, voluntary stable helpers, and general volunteers. To enable those, who may not ordinarily be able to afford to progress in the sport, the centre will provide transport, ponies and horses so that they may take part in eventing, competitions and shows. We also will reach out to people with autism and learning disabilities and provide for them a caring, loving, welcoming and therapeutic means of recreation. Within the equestrian centre we continue to complete, and are making steady progress with, construction of a Prayer Room which will be open to all as a place of prayer and quiet reflection. In this year we moved on with the work and have now got the roof on and new windows fitted. All, if any, profits will be used directly by the charity to aid in the fulfilment of all our objectives. The centre continues to meet its objectives.
## **The advancement of religion**
In the year of 2024, we continue to be open and welcoming to all who enter our doors. We have our community prayers, four times per day and seven days per week. We also have our weekly prayer meeting and special days of prayer throughout the year. We live stream all these times of prayer on our FaceBook page and on YouTube. We continue to have a steady stream of visitors and people who join us for the different times of prayers as well as those who just wish to use our prayer room for solitary prayer. There has been no significant increase in numbers coming in nevertheless we continue to attract new people who are just becoming aware of the services we offer. Throughout the year we man telephones and take prayer requests. We continue to deal with a steady request for devotional items through post, email and telephone.
## **Other charitable purposes**
The music ministry at the House of Prayer continues to be in high demand for Church services and bring their ministry to our local Church on a fortnightly basis. They also bring, on request, their ministry to outlying Church services such as special days of prayer, funerals and weddings. A worship event was held by them at Saint Joseph Equestrian Centre in June 2024. It had the involvement of our Parish priest and along with Sonlight featured an ecumenical worship group from Derry and a local choir of immigrants from East Timor. Over Christmas Sonlight held the annual Christmas concert here at the House as well as various carol services within the community including the local women’s refuge. Sonlight music ministry continues to be a valuable means of promoting our charity at the House of Prayer and in local Churches and community.
## **Financial review**
## **Policy on reserves**
The charity has no formal policy on reserves. It creates reserves as required for specific projects. If funds were materially in deficit at any time steps would be taken to eliminate the deficit, normally by a special appeal to existing donors.
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## **An Invitation To Love Jesus**
## **Trustees' Report (continued)**
## **Structure, governance and management**
An Invitation to Love Jesus is a charity constituted by a Trust Deed and is recognised as a charity by the Inland Revenue, number XR21806 and by the Charity Commission (NI), number NIC 101422 .
Our constitution requires we have 12 trustees and 12 remain in office with no new elections taking place. All the committee members of the charity are from within the charity and take part in decisions being made for the day to day running of the charity.
All trustees are given guidelines on their responsibilities and on how meetings are to be conducted. These guidelines are in written form and each of the trustees have a copy. Training is by active work within the committee and all overseen by the Chairperson.
## **Recruitment and appointment of trustees**
The twelve trustees remained the same as in 2023 and no new elections were made. The trustees are re-elected annually and there is no limit on the number of terms which may be served. The trustees and positions of trustees are elected as part of the Annual General Meeting and three of the positions were reassigned.
All long term members of An Invitation to Love Jesus, who are over the age of 18 and have over four years of voluntary service within the charity are eligible to be trustees. Each prospective member wishing to join the charity serves for a probation year to assess their commitment and if suitable then is invited to join as a charity member. The trustees and positions of trustees are elected as part of the Annual General Meeting.
## **Pay and remuneration of trustees**
No pay or remuneration is given to trustees. All are voluntary.
## **Organisational Structure**
The trustees are responsible for the day-to-day management of the charity.
Trustees are responsible for making decisions on matters of day to day running of the charity, future projects and all matters of concern to the charity. The trustees also make decisions on how funds are allocated and on bills to be paid.
The trustees meet each Tuesday night. In 2024 the trustees met 44 times during the year.
Some of these meetings continue to be part virtual. The average attendance was 75%.
## **Decision making policy**
The day to day financial management is conducted by the three joint treasurers who report weekly to the full board of trustees. The spiritual work of the charity is conducted by the full board of trustees.
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## **An Invitation To Love Jesus**
## **Trustees' Report (continued)**
## **Risk management**
The Trustees review the major risks which the charity faces and believe that the policy on reserves, as stated above, provides sufficient resources in the event of adverse conditions. The Trustees examine business and other operational risks faced by the charity and confirm that systems to monitor and mitigate significant risks are in place. Risks considered on annual basis.
## **Plans for future periods**
The charity fully intends to continue to meet its objectives in the future, by whatever means possible. We will continue to stream Prayers and Prayer Meetings and to further Sonlight music ministry in the enhancement of our services.We have begun, as funds allow, and intend to continue with essential renovation and maintenance work on all the Houses of Prayer in order to bring them up to standard for use.
It continues to have specific plans to expand its outreach to young people by continuing to develop the equestrian centre within the existing House of Prayer. This equestrian centre provides extra funds by offering its facilities to the general public. We will continue to expand the equestrian centre activities by preparing students for competitions. We continue to try and develop our plans to further develop our outreach to the youth, with the aim of being able to provide other activities such as water sports and fishing. This is very much dependent on having the specialised manpower needed to operate such a programme. This is not possible at this time but we hope to continue to make preparations with the view of enhancing and developing our outreach to the youth.
The trustees' report was approved by the trustees of the charity on 31 October 2025 and signed on its behalf by:
......................................... Mrs Bridget Madden Trustee
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## **An Invitation To Love Jesus**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true 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. In preparing these financial statements, the trustees are required 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 followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial 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 and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008, Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 31 October 2025 and signed on its behalf by:
......................................... Mrs Bridget Madden Trustee
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## **An Invitation To Love Jesus**
## **Independent Examiner's Report to the trustees of An Invitation To Love Jesus**
I report to the trustees on my examination of the accounts of An Invitation To Love Jesus for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of An Invitation To Love Jesus you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. You are satisfied that the accounts of An Invitation To Love Jesus do not require an audit under section 65(2) of the Act and that an independent examination is needed.
I report in respect of my examination of the An Invitation To Love Jesus's accounts carried out under section 65 of the Charities Act (Northern Ireland) 2008. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
## **Independent examiner’s statement**
Since An Invitation To Love Jesus's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in Ireland, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept as required by section 63 of the 2008 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of the 2008 Act; or
4. there is further information needed for a proper understanding of the accounts to be reached.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Mr Terence Hollywood FCA For and on behalf of McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS
31 October 2025
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## **An Invitation To Love Jesus**
## **Statement of Financial Activities for the Year Ended 31 December 2024**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Income from trading activities
3
Other income
4
Total income
**Expenditure on:**
Cost of generating funds
5
Charitable expenditure
6
Support costs
6
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
17|**Unrestricted**
**funds**
**£**
281,399
113,769
430
395,598
(25,615)
(68,165)
(494,532)
(588,312)
(192,714)
(192,714)
1,880,971
1,688,257|**Restricted**
**funds**
**£**
-
-
244
244
(14,276)
-
(23,061)
(37,337)
(37,093)
(37,093)
62,921
25,828|**Endowment**
**funds**
**£**
-
-
-
-
-
-
(22,205)
(22,205)
(22,205)
(22,205)
1,140,182
1,117,977|**Total**
**2024**
**£**
281,399
113,769
674|
|---|---|---|---|---|
|||||395,842|
|||||(39,891)
(68,165)
(539,798)|
|||||(647,854)|
|||||(252,012)|
|||||(252,012)
3,084,074|
|||||2,832,062|
The notes on pages 12 to 24 form an integral part of these financial statements. Page 9
## **An Invitation To Love Jesus**
## **Statement of Financial Activities for the Year Ended 31 December 2024 (continued)**
|**Note**
**Income and Endowments from:**
Donations and legacies
Income from trading activities
Other income
Total income
**Expenditure on:**
Cost of generating funds
Charitable expenditure
Support costs
Total expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
17|**Unrestricted**
**funds**
**£**
665,931
99,827
42
765,800
(25,868)
(103,983)
(453,209)
(583,060)
182,740
182,740
1,698,234
1,880,974|**Restricted**
**funds**
**£**
94,500
-
481
94,981
(15,028)
-
(17,032)
(32,060)
62,921
62,921
-
62,921|**Endowment**
**funds**
**£**
763,000
-
-
763,000
-
-
(22,144)
(22,144)
740,856
740,856
399,326
1,140,182|**Total**
**2023**
**£**
1,523,431
99,827
523|
|---|---|---|---|---|
|||||1,623,781|
|||||(40,896)
(103,983)
(492,385)|
|||||(637,264)|
|||||986,517|
|||||986,517
2,097,560|
|||||3,084,077|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 17.
The notes on pages 12 to 24 form an integral part of these financial statements. Page 10
## **An Invitation To Love Jesus**
## **(Registration number: 101422) Balance Sheet as at 31 December 2024**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Stocks
13
Debtors
14
Cash at bank and in hand
15
**Creditors: Amounts falling due within one year**
16
**Net current assets**
**Net assets**
**Funds of the charity:**
**Endowment funds**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
17|**2024**
**£**
2,805,471
10,544
344
44,628
55,516
(28,925)
26,591
2,832,062
1,117,977
25,828
1,688,257
2,832,062|**2023**
**£**
2,834,638
6,835
11,916
260,275|
|---|---|---|
|||279,026
(29,587)|
|||249,439|
|||3,084,077|
|||1,140,182
62,921
1,880,974|
|||3,084,077|
The financial statements on pages 9 to 24 were approved by the trustees, and authorised for issue on 31 October 2025 and signed on their behalf by:
......................................... Mrs Bridget Madden Trustee
......................................... Mr Colum Donaghy Trustee
The notes on pages 12 to 24 form an integral part of these financial statements. Page 11
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
An Invitation To Love Jesus meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) 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 concern**
The trustees consider that there are no material uncertainties 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 income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. 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 depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. All expenditure is accounted for on an accrual basis.
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## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
The historic cost of fixed assets up to 31st December 2014 is its estimated purchase cost, together with any incidental costs of acquisition. New fixed assets acquired since 1st January 2015 are recorded at purchase cost together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Buildings|2% straight line|
|Plant & machinery|15% straight line|
|Fixtures & fittings|7% straight line|
|Motor vehicles|25% reducing balance|
## **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 determined using the first-in, first-out (FIFO).
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed 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 impairment. A provision for the impairment 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 terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **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 classified as current 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 unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Financial instruments**
## _**Classification**_
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
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## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## _**Recognition and measurement**_
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
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## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## _**Debt instruments**_
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
## _**Investments**_
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
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## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## _**Derivative financial instruments**_
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
## _**Fair value measurement**_
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
## **2 Income from donations**
|Donations;
Donations and legacies
Forgotten poor of the world
Christmas draw
Gift Aid
**Total for 2024**
**Total for 2023**|**Unrestricted**
**funds**
**General**
**£**
263,159
5,600
1,306
11,334
281,399
665,931|**Restricted**
**funds**
**£**
-
-
-
-
-
94,500|**Endowment**
**funds**
**Permanent**
**£**
-
-
-
-
-
763,000|**Total**
**funds**
**£**
263,159
5,600
1,306
11,334|
|---|---|---|---|---|
|||||281,399|
|||||1,523,431|
Page 17
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **3 Income from other trading activities**
|Income from trading activities;
Sale of donated second hand clothes
Printing sales
Religious shop (St. Joseph's) sales
Equestrian centre income
**Total for 2024**
**Total for 2023**
**4**
**Other income**
Bank interest
**5**
**Cost of generating funds**
Printing supplies
Religious shop (St, Joseph's) purchases
Other costs of generating funds|**Unrestricted**
**funds**
**General**
**£**
430
**Unrestricted**
**funds**
**General**
**£**
8,794
16,397
424
25,615|**Restricted**
**funds**
**£**
244
**Restricted**
**funds**
**£**
14,276
-
-
14,276|**Unrestricted**
**funds**
**General**
**£**
6,188
18,427
25,490
63,664
113,769
99,827
**Total**
**2024**
**£**
674
**Total**
**2024**
**£**
23,070
16,397
424
39,891|**Total**
**funds**
**£**
6,188
18,427
25,490
63,664|
|---|---|---|---|---|
|||||113,769|
|||||99,827|
|||||**Total**
**2023**
**£**
523|
|||||**Total**
**2023**
**£**
24,513
15,833
550|
|||||40,896|
Page 18
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **6 Expenditure on charitable activities**
## **Charitable expenditure**
|Donations
Donations to the Forgotten Poor of the World
Hospitality
Music ministry
Photography
Viral video
Pilgrimage
Equestrian activities (Youth out-reach)
Recreational activities (Youth out-reach)|**Unrestricted**
**funds**
**General**
**£**
665
5,636
14,291
1,016
4,715
336
1,786
36,003
3,717
68,165|**Total**
**2024**
**£**
665
5,636
14,291
1,016
4,715
336
1,786
36,003
3,717
68,165|**Total**
**2023**
**£**
-
5,905
16,198
5,995
6,233
1,451
390
49,726
18,085|
|---|---|---|---|
||||103,983|
Page 19
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **Support costs**
|**Note**
Staff costs
Wages and salaries
Audit fees
Audit of the financial
statements
Bank charges
Depreciation, amortisation
and other similar costs
Foreign currency
(gains)/losses
Independent Examiner’s
remuneration
9
Insurance
Legal fees
Light & heat
Motor expenses
Other interest payable
Postage
Rates
Rent
Repairs
Stationery and printing
Sundry expenditure
Telephone and fax
Travel and subsistence|**Unrestricted**
**funds**
**General**
**£**
147,729
-
2,991
89,005
6,085
5,436
11,423
1,004
37,152
33,360
-
8,528
12,036
-
107,924
5,686
13,331
7,940
4,902
494,532|**Restricted**
**funds**
**£**
4,064
-
-
3,279
-
-
-
-
-
-
-
15,718
-
-
-
-
-
-
-
23,061|**Endowment**
**funds**
**Permanent**
**£**
-
-
-
22,205
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
22,205|**Total**
**2024**
**£**
151,793
-
2,991
114,489
6,085
5,436
11,423
1,004
37,152
33,360
-
24,246
12,036
-
107,924
5,686
13,331
7,940
4,902
539,798|**Total**
**2023**
**£**
108,270
6,000
3,087
118,347
10,119
3,804
12,118
183
27,382
25,094
102
31,717
11,856
(1,942)
83,682
11,455
16,426
7,720
16,965|
|---|---|---|---|---|---|
||||||492,385|
## **7 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 20
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **8 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries|**2024**
**£**
151,793|**2023**
**£**
108,270|
|---|---|---|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Printing
Equestrian|**2024**
**No**
2
4
6|**2023**
**No**
2
3|
|---|---|---|
|||5|
No employee received emoluments of more than £60,000 during the year
## **9 Independent examiner's remuneration**
|**9**
**Independent examiner's remuneration**|||
|---|---|---|
|Examination of the financial statements
**Other fees to examiners**
Fee paid for local compliance in Poland
Independent Examiner’s remuneration
**10 Auditors' remuneration**
Audit of the financial statements|**2024**
**£**
4,400
1,036
5,436|**2023**
**£**
2,890
914|
|||3,804|
|||**2023**
**£**
6,000|
## **11 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 21
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **12 Tangible fixed assets**
|**Land and**
**buildings**
**£**
**Cost**
At 1 January 2024
3,049,369
Additions
60,879
Disposals
-
At 31 December 2024
3,110,248
**Depreciation**
At 1 January 2024
477,153
Charge for the year
62,324
Eliminated on disposals
-
At 31 December 2024
539,477
**Net book value**
At 31 December 2024
2,570,771
At 31 December 2023
2,572,216
**13 Stock**
Stocks
**14 Debtors**
VAT recoverable
Other debtors
**15 Cash and cash equivalents**
Cash at bank|**Furniture and**
**equipment**
**£**
77,259
4,176
-
81,435
28,006
9,045
-
37,051
44,384
49,253|**Motor vehicles**
**£**
94,914
-
(15,500)
79,414
30,841
14,792
(10,596)
35,037
44,377
64,073|**Motor vehicles**
**£**
94,914
-
(15,500)
79,414
30,841
14,792
(10,596)
35,037
44,377
64,073|**Other tangible**
**fixed asset**
**£**
352,874
30,267
-
383,141
203,778
33,424
-
237,202
145,939
149,096
**2024**
**£**
10,544
**2024**
**£**
-
344
344
**2024**
**£**
44,628|**Other tangible**
**fixed asset**
**£**
352,874
30,267
-
383,141
203,778
33,424
-
237,202
145,939
149,096
**2024**
**£**
10,544
**2024**
**£**
-
344
344
**2024**
**£**
44,628|**Total**
**£**
3,574,416
95,322
(15,500)
3,654,238
739,778
119,585
(10,596)
848,767
2,805,471
2,834,638
**2023**
**£**
6,835|
|---|---|---|---|---|---|---|
|||||383,141|||
|||||203,778
33,424
-|||
|||35,037||237,202|||
|||44,377||145,939|||
|||64,073||149,096|||
|||||**2024**
**£**
10,544
**2024**
**£**
-
344
344
**2024**
**£**
44,628|||
|||||||**2023**
**£**
11,571
345|
|||||||11,916|
|||||||**2023**
**£**
260,275|
Page 22
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **16 Creditors: amounts falling due within one year**
|Trade creditors
Other taxation and social security
Accruals|**2024**
**£**
12,072
2,426
14,427
28,925|**2023**
**£**
14,105
1,722
13,760|
|---|---|---|
|||29,587|
## **17 Funds**
|**Unrestricted funds**
General
**Restricted funds**
**Endowment funds**
Permanent
**Total funds**
**Unrestricted funds**
General
**Restricted funds**
**Endowment funds**
Permanent
**Total funds**|**Balance at 1**
**January 2024**
**£**
1,880,971
62,921
1,140,182
3,084,074
**Balance at 1**
**January 2023**
**£**
1,698,234
-
399,326
2,097,560|**Incoming**
**resources**
**£**
395,598
244
-
395,842
**Incoming**
**resources**
**£**
765,800
94,981
763,000
1,623,781|**Resources**
**expended**
**£**
(588,312)
(37,337)
(22,205)
(647,854)
**Resources**
**expended**
**£**
(583,060)
(32,060)
(22,144)
(637,264)|**Balance at 31**
**December**
**2024**
**£**
1,688,257
25,828
1,117,977|
|---|---|---|---|---|
|||||2,832,062|
|||||**Balance at 31**
**December**
**2023**
**£**
1,880,974
62,921
1,140,182|
|||||3,084,077|
Page 23
## **An Invitation To Love Jesus**
## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)**
## **18 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
2,779,683
55,476
(28,927)
2,806,232
**Unrestricted**
**funds**
**General**
**£**
2,834,638
217,751
(29,590)
3,022,799|**Restricted**
**funds**
**£**
25,788
40
-
25,828
**Restricted**
**funds**
**£**
-
61,275
-
61,275|**Total funds at**
**31 December**
**2024**
**£**
2,805,471
55,516
(28,927)|
|---|---|---|---|
||||2,832,060|
||||**Total funds at**
**31 December**
**2023**
**£**
2,834,638
279,026
(29,590)|
||||3,084,074|
## **19 Related party transactions**
During the year the charity made the following related party transactions:
## **All the staff are related to two of the trustees**
The activity of charity is supported by its volunteers, and it is not unusual for volunteers to be related to some of the trustees. When a paid employment position is being considered then the charity first looks to its pool of volunteers for possible candidates. The volunteers are all committed to the religious ethos of the charity, which is considered a vital qualification by the trustees, and they will have experience of working within the charity. Any offer of employment and related salary is approved by a meeting of the trustees by secret ballot. Any related trustees leave any meeting before any discussions on the employment of their relative and the secret ballot.
Page 24