Iiiiiniii Coii)pJny re&iisirJiivn nuiiibL'r- JN1043211 Charify w8isifJiioii Iiiiii)b¢r: Ni IC 101638 *JCBYQE04• 1310912023 COMPANIES HOUSE JNI 148 New Horizon Ministries Limited (Company Limited by Guarantee) Annual report and unaudited financial statements for the year ended 31 December 2022
New Horizon Ministries Limited Annual report for the year ended 31 December 2022 Pages Reference <iiid adminislrdliv¢ deldils Trnsices, report Independent examiner's report Siateni¢nl of financial aciivilies Balance shcet Staleinent ofcash flows 10 Nofcs to tlie financial slaicincnts
New Horizon Ministries Limited
Reference and Administrative Details
Charlty name
Nciv HoriLon Miiiisirics LimilLYl
Charity regislr8tlon number
NIC101638
Companv regislratlon number
N1043211
Principal office
12 KillyvJlly Road GarvJyh
GarvJg,h
Co Londondcny
BTS15JZ
Re¥istered office
12 Killyi'4lly Roud Gurvu¥h
Garvagh
Co Londondc
BTS15JZ
Trusteesl Directors
Dr Puul Coulicr
Mr Poul Gilinore {appoinic
New Horizon Ministries Limited
Trustees, repori for the )'e#r ended 31 December 2022
ThL Tru%lLLS. wlio urc dlso ilie DircLiors' of ilic coinpJi)y undcr iIiL prviii%i01is of Ihc Coii)P411iiCS ALI 2IXI6. prL'seiii
Iheir )nniial repon and tl)e iinaiidiied finJnci4i1 siaienienis for ihL yL'ar ended 31 December ?0?2. The Tnisi¢¢s hav¢
JduplLd Ihe provisiuns ol- IhL Coinp
New Horizon Ministries Limited Tru$lces' repori for the year ended 31 December 2022 (continued) Objeclii'es and Acti¥'ilies ew Horizon aims io proi'ide resources for and encoiirng•e Cl)risii8n5 in Ilieir Chrisiian lives. This is done in line willi ihL lnis.siun SlulL'mcnl nvlLd ubovL. Thc priinary uciivily ofNL%W Huri£on M iniilric> 1.% Ihc p1411111inbi, orgJniiinbl, Jnd ruiininb of un unnudl WLLk-loii¥ confcrencc. held each sunimer on ihe ean)puS of Ulsier University in Coleroine. Nlorthern Irelaiid. Toial footfall during ihe week is around 30,C4)O wilh up lo 3,000 peoplc ai cvening cvcnt. Som¢ pcoplc just come ror a day while oihLfs Stuy for ihl ivhi)Ic u'cck which ihe bcnLfJiS ihe local hospit)liiy indu.qrry. Therc is ll full progrominc of children's and youth Qelivilics from O -18 ycar8. while ihL adul( programinc. has a good spread of ogcs und rcll¢¢is u broad run&7c of¢vun&cli¢al conviciion wiihin Northcrn Irelond ond funhcr aficld. Thc activities of ihc evcni comprisc Bible tCQLhing. worship. sL'rninars, and an CXiL'nsivc progruminc lor ¥hildrcn nd youih. In order io succvssfully rnii ilie conference: N'ew Horizon IKakes significanl use of voluntccrs. Th¢s¢ volunteers ore involvcd in QCiiViliLS SULh a% sic%4tJrdingi, $llL niaini<nanLL during ihc Lvenl, running youth und Lhildrin's prograinnies, accessibility, finaiici11 nia111i gemeni and adniinistruiion. promoiiontsl ttciivilies. seiiiindr planning, providing praycr un4J Pdsioral suppun us IVLII ay uihL'r uLIiviiiL's. Nciv Hori20n esiimJte% ihdt there Jre Jppro.Kimdicly 4no volLbniccr.s involvcJ in Ihc manogLmLni Jnd Nnnin¥ uf the cv¢ni. Clearly Ilie cconoiilic Yalui aiiribuied io ihesc volunicers is imp05siblc 10 nieasurc and is ihcrcforc nol includLd in thl. l inJnLial SlatLmL'nts. Puhllc Benefi( Stlrment New Hori70n's piirpose is to adi'un¢¢ lh¢ Christian faiih, particularly hy icaching Chrisiians Ihc characicr of Cio through Biblc Icachinb and Siiinultsiingi Chrisiians inio funlicr commiimcni in ociivc Clirisiiah serni¢c in Nortliern Ireland artd throu&ihoiii ihe ivorld. Thc direci benefils ,hICh tlow froim ihis purposc includc bcncliciarics bein betier cilizerts and bieitinb more involi'cd in ihcir local comiiiuniiics or challcngcd 10 do charilable acts in other counlricl. Thc.8e bcnefil.q arc dcm<ynstraied ihrou8h fcedbuLk from bcncliciJric8 and ihc faLi Ihat lJr¥c nrnber5 Ilcnd Lach yLur. li is bL.lii'vid Ihal nv hann uri?*C¥ from Ihi'so, pufpob4i. ThL' ¢114rily'i Ix'n¢ficitsri¢s orc adul1¥ and hildrcn mainly froni N Irelund. A private bcnefii floivin¥ from Ihesc piirposL'S ihdt is incidL'nial, is thai Niw Horizon cmpluy SlJtr &, cn¥aKL suppliLrs, Ihis bL'nefil Loiiiribulcs dire¢ily 10 achiLIVlllbi ihe charily'.s purposc. Achltvement Jnd Perform8n¢e rulloiviny iivu yl'urs wli¢f¢ Ilic ov¢iil ¢ouliJ only bc h¢ld as an onlin¢ orflring duc io Covid rcslriciions, 2022 wuts Ihe first full eveni since 2019 ofTering both udult and ehildreii's programmes. The irusices arc plcdscd wilh ihe aiicndancc aiKI engugcmcnt ai Ihc eveni ond bcli¢ve ihc eveni 10 bc a success. Whilbi numb¢rs wcre down aboui 20125D/o on 2019, the lrnsiees bclievc Iliis is in linL' wilh Ihe griidual Iran5ition back to 'nonnal' folloiving Covid is iii line iviih Ivhal ha5 bcen n acr055 oih¢r sirnilar cvcnls. Th¢ irnsiees are saiisfied ihai ihe organisJiion is being run in line wilh ils siaied mission siaieinei)i.
New Horizon Ministries Limited
Trustees, report lor the year ended 31 December 2022 (continued)
Fin#ncial revie.
The inisiees re Solisfied wilh ihe overall financial perforinance ofihe or8anisaiion.
2022 ended iviih a deficil of L42,277 coi?)pared iviili J deficil of £6,493 in 2021. While ihe nornial eveni did lake
plilcc for IhL. first yLJr folluivintsi 2 years ufonlink c'VLnlb, iiuinbL'rs ivc'rl redu¢ iliu5 hayinbi il Jir¢'¢l iiiii)aci on Ihe
income of Ilie eveni whi¢li wfis down by c.15-20Vo on 2019, Ilie lasi full eveni. 2022 also saw 'Orld evenis lead io o
osl.of-livinbi crisis for ihosL' livinbi iii Norihcm ITclai)d which iii)pacicd iillcndces. iibiliiy lo brive. Cosfs ivcrL'
iinpacicd by higli leittls of inflaiion as ivcll as Ilie iiiipacl ofgciieral ¥vorld cconomic evenis. Tlie M?na&rcincni Te41111
vorkcLI in all arca% to rcduec costs i%,herc possiblc and limii Ihc oi'erall inipact ol'riqing cosis. Thc fall in incom¢ and
incrcasc in costs nonoihcless mennt a dcficii of £4?k. This dcficil has bccn covcrcd by iyc, Horizons gcneral
rcscryes.
Plans for ftUre perinds
Atlcr rcvicivingi ihc ULll%'ity in 2022 the tru¥lecs dfc salisficd Ih&il ils iiims und objcLiivcii by organi5in¥ ihe ivcek
conference should remnin unchanged.
Prln¢Spul aclivlty
Tlie principal aclivily ofihc coinpaiiy is 10 odvancc Ilie Chrisiian rcligion in o¢cordtsn¢c wilh tlic docirincs and
prin¢iplcs %ci oui in Ihc Aniclcs of Associaiion to ihc inieni Ihul Chrisiian bLlicvcrs shall beiier un(Icrsiand ihe
characlcr of God ihrougl) biblical icacliing and bc Siiiiiulaled io exprcss ih¢ir winn)iiimeiil in aclive Clirisiian service
in Ir¢land and Ihrou¥hoiil Ihc world.
Risk nbJn#Remenl
The Irnsiees hiive usscsscd thc major riqks lo which Ihc churily 15 exposcd. in Piifiiculur iknsc rclaiinx 10 opcrdiilins
aiid f)nan¢es. Thc irnsiccs are niindful of ihc risk of cxpendiiLirc cxccediiig in¢oinc and arc s)lisfi¢d ihai systems ore
in place to TniiigJl¢ eMp05iire 10 those risk.4. namcly by promolins new means of incrca5ing income and rnaaa8in¥
Ihe c051s of ilie conference.
In 2021 un indepcndenl Hcalth aiid Safcly Lonsuliaiii iV
pproximaiely a level sufficicni io meel the averagc chariiuble expcnditurc and runnin&? costs for 8 period equivaleni
lo six Inonihs e,¥pendiwre. which equaies 10 approximaiely £ I I I k (based on 2022). The acwal "free reserves ' 1131 DcLcinber 2022 iycrc £94.14012021.. £136,417). Thc dcficil incurrcd in 2022 has rcduecd reservcs below tlie )licY level and the Irus(ees ivill airn 10 address ihis in ?023.
New Horizon Ministries Limited Trustees, report for the year ended 31 Deeember 2022 (eontlnued> Stoltment o( trusteos, rtsponsibililits Inisiccs (who drc also dircctors for Ihe PLirposcs of con)pany law) arc rcsponsiblc for preparing the Trusiees, Report dnd tliL finJnLial slJlciiiLnts in Jccordancc with Jpplicablc laiv and Uniled Kiiiswdoin ALcounlinb Siandards {Uniicd Kin¥don) Gcncrdlly Accepied Accouniing Prnciicel. Company laiv rcguircs Ihe Inisiecs 10 pr¢pnr¢ fiiMn¢iiil sihl¢ni¢i)ts for each finaiicial ycar. Undcr Ihui law Ihc ITuslccs havc prcpored Il?c financiul siaici))ents in accordance iviili Urti<ed Kingdom Gencrolly Acccpied Aciouniing Praclice IUni(cd Kingdom A¢counrin¥ Stand#rds and appli¢abl¢ lawl, includin8 FRS 102 'The Financial Reportinb. Standard applicablc in ihc UK and Republic of Irc141nJ" Under company laiv ihe iruStcc.8 inusr nol approyc Ihe financial siaiemenis unless ihey are salisfied ihat iliey give a irne and fair i'iew of the siaie of Ihe affairs of ihe Lhariidblc LOI))pdny nnd of ihL inLoiiiingi rL'sourLes Jnd appliLalion of re50urce$, including (he inLoinL und e.Ypeiidilure, of Ilie chariiable compftny for Ihai period. In preparing il?es¢ financial Siaiemenls, Ihe irustees are required io: sclcci suilablc accnuniing polici¢5 ihen apply ihcrn consisicnily: obscrvc ihe mcihods and principlcs in ihc Charitics SORP- make judbieniei)Is and accouniii)bi estimaies ihai are reasonable and pnJdeni; SlJl¢ ivlic'ilier Jpplicibblc UK A¢couniiii8 SidndJrds and FRS 102 hdvc bccn followed, subjeci io any miierial departures dis¢losed ond explained in Ihe financial sialeii)enls; and prepare Ille financial siaien)eiiis on Il)e bioiiig concern basis unless il is inappropriole lo presuinc ihai the haritabli company ivill continue in business. Thc iThs¢ccs urc rcsponsiblc for kccpinu propcr aLcountin¥ r¢Lords ihai di¥closc with rcasonable aLCllrnCy al any lime ilie fjnancial posilion of the cliariinble company and e17able ihen) io ensure Ilial the financiiil sioiemenis coinply vitl) Ihe Companies AL'I 2006. Thcy arc J180 rcsponsiblc for sJfeguJrdints ilic ussels of ihc chariiabl4 coinpuny and h¢nce for iakin8 reasonable yeps for the preveniion and deieciion of fraud ai)d oilier irregularities. Smull ¢omptsnles' ¢¥¢mpt60 This rcport hilb bccn prcpared in ac¢ordancc iviih ihe special provisions relalinsi lu siiiall cornpanics iviiliin Part 15 of ihe Companics A¢1 2006. The 3nthual rcpon was approvcd by Ihe Inisiees of the Chariiy on I S Muy 2023 und signed on ils behalf by: Mrs Ali Knight Trusiee
New Horizon Ministries Limited Independent eTaminer's report to the Truslees of New Horizon Ministries Limiled I report on ihe accounts of Ihe charily for (he year ended 31 Decernber 2022. Ivhich are sel oul on page5 8 10 18. Rtspe¢tive responsibilities of ¢hiritJ' trustees and exim iner As the charity Trusiees you are responsible for the preparaiion of the accounts in accordance w'iih ihe requirements of the Charilies Aci (Northem Ireland) ?8 and Cornpanie5 Aci 2006. Haying saiisfied myself Ihat ihe charity is noi siibjeci 10 audil under Ihe legislation and is eligible for independent eiaminaiion, il is my responsibility 10: examine the accounis under seciion 65 of Ihe Charilies Aci folloiv Ihe wocedures laid down in Ihe general Direciions given by Ihe Chariiy Commission for Nonhem Ireland under section 63(9)(b) of Ihe Charilies Acl siale wheiher panicular Mane have come to my atteniion. Basls of Independent exgminer's rtport I have exainined your ¢harily accounis as required under seciion 65 of Ihe Charities Act and my e¥aminaiion was Caled oui in accordance willi Ihe general Direciions given by Ihe Charity Commission for Northern Ireland under seclioii 65(9)(b) of Ihe Chariiies Aci. The e.%aminaiion included a review of the ac¢ouniing records kepi by the chariry and a coinparison of Ihe accounis presenied with those records. li also included consideration ofany unusual items or disclosures in ihe accounts, and seeking e.¥planaiions from you as chariiy trusiees concerning any such maners. My role is 10 siaie wheiher any maierial mallers have come 10 my aneniton Eiving me cause io believe: Thai accouniing record$ were not kept in a¢cordon¢¢ wilh S¢¢lion 63 of ih¢ Charili¢s Acl and 5eclion 386 of (he Companies Aci 2006 2. Thai the accounts do not accord with those accouniinu records 3. That the accounis do noi comply wilh Iht accounting requiremenis of $ection 396 of Ihe Companies Act and iyiih the methods and principles of Ihe Charilies Sialemeni of Recommended Practice applicable lo chariries preparing Iheir accounis in accordance wilh the Flnancial Reponing Siandord applicable in ihe UK and Republic of Ireland 4. That (here is further infomiaiion needed for a proper undersianding of Ihe accounis lo be reached. Independenl ex*miner's slatem¢mi have compleied my examination and have no Concerns tn respeei of ihe maiiets { l ) ¢014) listed above and, In eonneclion wilh folloiying Ihe Direciions of the Chariiy Commission for Northern Ireland. I have found no mallers thal require drawing lo your aTheniion. Samuel Dundee ACA Belfasl 15 May 2023
New Horizon Ministries Limited Statement of Financial Activities (incorporatiTrg summary income and expenditure account) for the }'ear ended 31 December 2022 Unrestrlcted Funds 2022 Unreslrlcled Funds 2021 'ole Incomlng r¢sour¢¢s I Incnme Incohiiiiy r0re¢.8101i1 gener4ledfuiid.f Voliiniary income ALlivilics for &icncruiing funds Invcstmcni incoinc 142.17J 38,688 18J 63.809 142 161 T()l#l Incthnilng rtsnurces Rosourcc5 ¢Jp¢ndod l Eipen5C> Co.Fls iifgiieruliiis liind.I ChJrilablc aLtivilies 181,044 64,112 223,321 223,321 142.277) 142,277) 70,605 70,605 (6,493) 16.49i) Toijl eosis of gtneraiing funds Net In¢omè (È.%pend•turell Ineome Nel niovemenl in (unds Fund funds brouglii fonvard ai l January To11 funds ¢rried for%i'thrd 91 J l Dtttmber 136.418 94,141 142.911 136.418 All aiiiounis llbove rclaie io coniinuins opcralions of thc company. The ¢ompany ha.s no 08n1$¢(l blains and lo$b¢$ oiher Ihan thosc included in Ihe r¢siiliq above Iherefore no separaie siJicincnl of iolal r¢cogni5cd &rains and losses hJs bcen wcsciilcd.
New Horizon Ministries Limited Balance sheet as at 31 December 2022 2022 ?o?I Fixed Jssi'ls Tan iiblL' fixL'd aiiscis ¥13 1,343 Current a55ets Debtors Cash J¢ bank and in hand 12 4,010 118,778 122,788 129,46(J) Y3,-12X 94.141 94.141 342 135,334 135.676 (601) 135,075 136.418 136.418 Credilors: Mmfiunls fullin dut ii'iihin fjnt i'eiir 13 Net current dssels Tolfjl asset.s Icss curr¢nt liahili1i¢5 Ncl as¥clS The funds of Ihe churlti, Unr¢slricl¢d iniome fundb Tulal rhArilv fund 16 94,141 94,141 136,418 136,418 Thc direciors con%idcr ihai tliL' CI)IIIPl ny is eniiilL'd io exemption froin Ihe requireinenl io l)ave )n Judil under ilie provisivni of %cLiiun 477 ofihc Coiiipanics Aci 200(i A¢(,) éjnd Ihci)Ibcrb hive iioi rcquircd ihc coii)paiiy io obtain dn dudii for Ihe ycdr in qUCSiion in ULLordanLc witli 5LLlion 476 of ihl Aci. The directors a¢krtowleds•e Iheir rcsponsibiliTi¢S lor ensiirinsy thHI the conipdny kccps thc¢ouniin¥ r¢Yords %vhi¢h coniply willi seciion 386 01. Ilie AL( and fur preparin¥ financial 8ioieiiienis which &iive a INC and fair Vic, of ihe ¥lJlL vfaffJirs of Ilic. cuinpllny 41$ UI 31 DL¢Linb¢'r 2022 Jnd of lis profil fur IhL' ycur il)Cll Liidcd in uL'cordJiiLL wilh Ihc rL'quifL'incnis of ¥LClions 394 Jnd 3Y5 of thL ALI dnd whiLh othcrwise cornply iviili ihe requir¢mcnlb of ihc Companics Acl ?006 rclJling io ihc financial slulcmcnis so far Js pplic)bl¢ io Ihe coinpany. These financiii18ITJi¢menis ve beei) prepared in a¢¢ordancc willi Ihc provisions applicablc io companiL's subjecl io Ihc smull LoinpiLniLS' regimc. The financial slalenicnrs on pages 8 10 18 were approved by lh¢ board on 15 May 2023 and were sisned on 11$ beh)Ir by.. Mrs Ali Knigl)I Trusicc The noies on pagcs I I to 18 dre an inicgrnl part of thcse financial siaicments Company rL'¥iStTlltion numbL'r'. N1043211
New Horizon Ministries Limited Statemenl of Cash Flows for the yeydr ended 31 December 2022 Z022 2021 N'oics Cosh used bv rni'td¢d bv erulln a¢iii.Ill¢s 18 Cash floAI' from inve.4tin 2ctivities- Purchasc of tan iblc sSelS Inercas¢l {Dccrcase) in cash and casli cquivttlenls in ihc year C851) and cash ¢quii'lllenis fll the beginiiin8 of Ihe yenr Total cash ond cash equli'alents ai ihe end o( Ihe year 135,J34 118,77 142,531 135,334 Thi no1 on pages 1110 18 ur¢ J¢1 ii)i¢urdl puri of¢h¢s¢ finuniiiil biaicincnis 10
New Horizon Ministries Limited Notes to the financial statements for the year ended 31 Deeember 2022 i) A¢¢ounting policies The prinLipul ULcrnJnling policies adoplcd. jiidgcmenis and key snurccs of e.SlimtstiDn uncertoiniy in Ihc prcparniion ofihc finaiicial slalcii)cnls arc as folloivs.. ) Genergl Informtsiion NLW Hoi'i7.on is a scvcn day Chrisiian fc41ivdl Ihai pluce evLry year on ihc Uls(er UnivLrsiiy campus in ColcrJine, sei on ihe picluresquc north coast of Nonhcrn Irclond. li cxisi$ 10 proi'idc a spacc and iiii in which thou8dnds ol. pcoplc ol. xll ages can bL lau&ihi from IhL' bible. be inspired Ihrou¥li 'OrShiP and siory, d¢vclop a missional hcart, and cnga&ie iiiiil) relcvanl aiid ch)Ilcn&iinL? i55UCS. b) Basis (If pr¢pJratlo ThL charily findnLial tlJiL'mLnlii huvL bLLn prL'purLxI in U¢LordunLe willi Aliouniing Jn(J RiVOrt•ng by ChJriiic.%.- Siutcmc'nl ol. Rccomin¢ndLJ PrJcticL' Jpplicabll Iv chariliLS pfL"pdrin¥ Ihcir acLounis in accordoncc iviih Ihc FinanciDI Rcponinbi Siandord upplicablc in th¢ UK lliid Rc'public ol. IrL.lund (FRS 102> elTec(ive l Jaiiuary 2021) - (Ch&rilies SORP (FRS 102)) and Ihe ColpaI)leS Aci 2006. t) Preparolion (trf Accounts on a gDin&> concern basis Thesc finJiicial slulemcnis llre i>repared bjoing cunLL'rn bJ.sis undLr hisioricdl cust L'oi)YLniioii, Jnd in ¥ccordJncc wilh Jpplicable 8ccoiiniing Slii 1idi¢ rds iii lh¢ Unii¢d Kingdom, including ihe Siolcnicni of RLoinm¥i)Il¢d PrnL'licc ISORP) FRS 102, IhL Cuiiipanics ALI 2006 Jiid appliL4iblL aLLOUllllllg' policies. d) Fund accoun¢ing p(blicy Vnrc.qiricicd iiicomc funds arc gcncral funds ihal urc avuil4blc for iisc ill Ihc Irust¢L%' di%creiion iii furt}.¢cc Of ihe objtciives of the choriry. e) IncDmin% re51iurces Donotions orL' fcLOb•niscd wliere therc is lI11Cmen1, L'L'nainiy of reL'LipI and ihL amouni can bc mc41sur wilh sufficicnl reliabiliry. liiconiing resources froin lax rcclainis are in¢ludcd in th¢ siat¢meni of fiiillncial a¢liviiics ai ihc siinK lin as the Bill Iv iyhich ihc'y rcliii¢'. Income derived from evet)is is recognised 35 earned (IhaF is, as Ihe reldled goods or services provided). Invcstineni incoinc is Tecogniscd on a reccivablc basis. 11
New Horizon Ministries Limited Notes to the financial statements for the year ended 31 December 2022 l) Accounting policies (continued) t) Re&ource¥ expended LIbilitIcS urc rccogniscd soon Js Ihcrc is u Icgal or coiisiructii'c obligaiion conimiiiing ihc chaflly to ihe expenditure. All e.YpeiidiTure is accoun(ed for on an accwals basis and l)as been classified uiider headings thoi as&prc'gaiL illl cosis rL.laiL.d 10 Il)e cole00ry. Charilable expcndilurc Lompriscs ih05c cosls inLurrcd by ihL churity in ihc dclivcry of ils ULliviliLS and 4Lrviccs for 11% bcncficidl'ics. li includes both c(>%1% ihmi can bc 4Jllocalcd dirccily io %iich dCliViiiCS and ihosL' C051s of ali indireci nanire necessary io suppon Ihem. ¥> Govcrnonco eosis Govcmuncc cos15 in¢lLtJe L051s gf ihc prcparalioTJ and exaniinalion of Ihc 51alulory aLLounl>, Ilic ¢o>lS of inJsiCC ineclings dnd ihc cost of any legal udvicc io tru$iLs on gov¢rnanLc or ionsiiliitional moticrs. h) Syppnrl CD1•15 Support cosltTr includc ccnlrul fuiiclions and havc bccn allocatcd lo ariivity cosl cJlL'¥oric5 on J bdt4lS consisient iviili tl)e use of resources. for example: allocaiinb properry costs by floor areas: oi. per capiia. staff Cosis by Il)c liinc pcni aiid oihcr cosi.s by (Iicir usa&ic. l) T#n&ilble fl.¥ed sSets Iiidividuul IIxLd D.qSLIS COSlin8 L100 or InorL' Jrc iniliully rccordLd ul cosi. Tan8ibl¢ fixed as1$ Slul¢d Ji cosi I¢sb d¢pr¢¢ithiioi). Dcpw¢ii)lion is proi'id¢d on Idn¥ibl¢ fixed ass¢lS so as 10 ivriie offihe cos( or vnluaiioii, less any esiimaied residual value: over Iheir e.%pe¢ied useful economi¢ lifL Js folloivs= Fi.xiurcs and fl11inb7s Office cqiiipinCI)t 25°/y.%ii"Ji&ihi linc 25,/0 8trui8hi linc i) Cash at bank and in hand Cash al bank und in hdnd inL'ludes cash, dcposii8 hL'ld di cJll iviih banks and oihcr 5horl.IL'rnI liig.hly liquid invcstment.£ with original m¢iluriiies of ihree months of Icss. k) FlniinL'lul Insirumi'nty Thc chJrity only ha5 financial as5cis and financial liabiliiic5 of a kind Ihai quality os basic finuiiciJl insirumenls. Basic financial lns1rumcn arc ii)irially rccogiiised at trJi1crion pricc aiid sub5cqueiiily mca8urcd ul their sclllcmcnl valtie. unless the arrangemeni coiisliiutes u financing Iransaclioii. Financing transactions are iniiially measurcd Ihc prcsenl inlue of the fiiiurc receipis discounicd al a markei rate of inierc41, and ar¢ subsequcnily carricd ui amortised cosi, using ihe cffeciii'e inicrcsi nte mcthod. l) Operating le&se5 Rcntals payable under operatinB Icascs are charged in the Siaicmeni of finanLial activities on a Sfdighi linc basis ovei. Ihe lease ierni. 12
New Horizon Ministries Limited Notes to the financial statements for the year ended 31 December 2022 2) Critical accountlng judgements and estimation uncertaint), CsiimJles Jnd jud8rnent% are coniinually ci•aliiJicd Jnd arc based on hisiorical cxpcrience and uiher faciors. incliiding expeciaiions of fiitiire evenis Ihai are believed to be reaso1ble under the circumsiiinces. Ci-ilie(iljiidgeiiieniJ iii dypliiing ilie eiililii s uccoiinliiiyyolicies There are no crtiical jiidgenienis in opplyins Ille conipany's IKcoiiniins policies. Ciiiicul a¢eouiiiiiig eJliniaie,f aiid u.sstsiiii)iiuns There are no eriticiil accouniing estimates and tsssumpiions. 13
New Horizon Ministries Limited Notes to the financial statements for the )'ear ended 31 December 2022 3) Voluntary income Unreslricted Fund 1022 UTrro5trirt¢d Funds 2021 Conin)iiicd gi¥tji)&' Appcals and doiicilion% Gift Ai(1 lax rLclJiniLd 101,596 19,106 21.471 142,173 53.335 10.474 63,809 4) Activities for generating funds Unreslrlctvd Funds 21122 Unre$lricted Funds 2021 I'rodin in¢om¢ Oiller Irttdiiibl income a,6111 37 Even15 iiicI)Ine Enirancc fL'LS Coniribu¢ion 22,454 7,6.1.1 Jll,61111 65 40 142 S) Investment income Unres¢riei¢d Funds 2022 Unr¢siri¢ted F unds 21121 Inlerest recei%'thhle ond similar income Inlcrcsl rcccivablc on bank de IA3 183 14
New Horizon Ministries Limited Notes to the financial siatements for the year ended 31 December 2022 6) Charitable activates Urestrictd funds 2022 Unreslrlcltd funds 2021 Siic costs Telephone Priniinb,, POSiii)bV uiid slaiioncry TLchiiiiJl 51'rvicc$ EquipmLni hire Sundry and oih¢r ¢051S Honordriui)) I speJkcrs Tra(ling cv.$1s Travel llrtd siibsislei)ce Advcrti.sing and promaiion Iii$urfj)nCL' Cmploymcnl cosi8 Domesiic expenses IT cusls LLb•al prufcssiondl Lo*1¥ BJnk ihurgcs DLpfLYiJiiOli ol. i#n8iblL lixL'd dSSLIS Onc oir %4,525 981 3.012 .11.97S 1,000 J5,U27 5.621 937 522 6.920 1,268 7,646 1,045 6,000 I J26 7,416 30,119 859 13,225 450 254 530 678 727 3,384 25.6(J? 196 14,294 490 159 530 1,541 70.605 223,J21 7) Net Incomel (expendlture) NL'I inLoiiiL.I (L'XpldiIUrCI is sluiLd oftcr cliargin 2(J22 2021 DepreclJtlon of tangible llxed assels 530 8) Trus¢ee5' remuneration'and expense5 No rrusiees, nor any persons coiinecled wilh then), hDve received ai)y rcmuncration from ihL chArily during the ycar (2021 '. Nil). No tTUSt¢es have rtteived ai)y reinibutsed expettses from il)¢ charily during Ihe year (2021: Nil). No key Inaiiageineni personnel have recLivLd any rciMuneraiiLbn from Illi charily during lh¢ year (2021 '. Nil). The charity has indemnity insurance for its Irustees ai a cost of £34112021.. £3411. 15
New Horizon Ministries Limited Notes to the financial statements for the )'ear ended 31 December 2022 9) Emplo)iees' remuner21ion The asweBaie payroll cosis of tljese persons were as folloii's EwpluJpe¢.I 2022 2021 Sioff costs Ivages and salaries Social sccurily COSIS 28,681 1,438 -10,119 24.346 1,346 25,692 The average iiumber of per50ns cmploy¢d by ihe churity during ihc ycar wus as follows.. 2022 2021 Mana¥enicnl adminislrdlion No employcL reccivLd emoluineiiis of Inoie ihan £60,QOO duriM¥ Ihc year (2021 1%0. O). 10)Taiatlon Thc chariry 18 a r¢gi.slcrcd ¢hority, and a$ iuch 1$ Cniiiled io eenain lax Qxeinplions on Inc11¢ and Profils fion) iiivLslmcni¥, aiid surplusci on sjiiy 1rddinl aLIiViIIC'S Larric.d on in furthcrJncL of (hc charily's prtmury objcciivL¥, 'f Ihcsc prolils and siirplu5cs arc upplicd solcly for Lhariiable purposes. I l ) Tanglble fixed assets Fl.¥tures & rilling Computer Equipmcnl TotJl Cost Ai l January 2022 Addi111¥ Al 31 D¢cembtr 2022 6,323 1.038 7,361 6,323 1.038 7,J61 Accumu141ed di'preciution At l Januilry 2022 Charg¢ for Ihe ycar Al 31 Ik*embc'r 2022 5,107 430 5,537 6.018 531 6,54¥ loo Net 0k amvunt Al JI December 2022 Af 31 DeCernr 20?1 27 127 813 1.343 16
New Horizon Ministries Limited Notes to the finaneial statements for the )'ear ended 31 December 2022 12) Debtors 2022 ?021 Other debiors Prc nicn15 aiid accrued incoin¢ io 4,00(1 4,010 342 J42 13)Creditors: amounts falling due ivithin one year 2022 2021 Trade crediiors Oihcr lJx¢s and tsocial sccuriiy ALLruJls 830. 144 357 457 2#,273 29.460 601 14) Charlty status Thc chority is o privaie company liiniicd by 8Unran1 aiid ¢on5equcnily doc8 noi hov¢ 51iarc capital. Each of ili¢ mcn)b¢rs 1> liable io coniribuie an aiiiount noi exceeding £10 toiyards Ihe usseis of the charity in ihc cvcnt of liquiJuiiuii. 15) Financial instruments Thc compaiiy has ihe followin8 fii)uiiciul in4lrumui'. 2012 2021 Fbnan¢iJl assels mcts5ured at Jmorliscd cost Oihcr dLbiors 41nd QLLrucd income 342 FinAnclAI liabililits measured ot 8mortised cost Tradc crcdiiors Accruals 830 28,273 29,103 16.) Analysis of funds l January 2022 Incom gain5 31 DcLembcr 2022 EXpC8CS Unreslricted GeDerDI Funds Unresiricied incomc fur 136,41 R l Rl,044 (223J21) 94,141 17
New Horizon Ministries Limited Notes to the financial statements for the year ended 31 December 2022 17) Analysls of Net assets betiveen funds Unreslricled Funds 2022 Unrcsrrilted Funds 20?1 Anlll)'51% of i)'pe fif ossei Ilablllt}' Fixed Asscls Curr¢nt Jssci. Crcdilopi amounii fiS11in I '¢1 a55ets 81.1 112,788 129,4601 94,141 1,343 135,676 1601 130,4111 duc tithIn one ear 18) Reconcillatlon of net movement in funds to net cash now from operatlng activlties 2022 2021 Nci mov¢meni irt fiinds Add bock dcprccialion cl)ar8¢ (IncrcasL)Idccrcasc iii dcbiors InLf¢ilSL.I(Decr¢ilSC) in crcdiiurs 'ct Cash prnvidcd b)'l (used by) operatin8 OCtivitic$ (42,277) 530 (6,493) $30 lJ,668) 2¥,859 16,55fi (1.237) 7,197 19) Financial commitments Ai J l December 2022 Ihe chariry had no finaii¢ial ¢ommilmeiiis (2021: Nil). 20) Capital commitments Ai 31 Dc¢emb¢r 2022 Ilic charity liad no capital coiniiiitmcnis (2021.. Nil). 21) Related party transaclions No rLlaicd party lrnnsdciions. 22) Ultimate controlling partv Th¢Te is no iiliimai¢ ¢onirollin8 parry. 18