Company registration number., N1043211
Charity registration number.. NIC101638
New Horizon Ministries Limited
(Company Limited by Guarantee)
Annual report and unaudited financlal
statements
for the year ended 31 December 2023
¥Afuz7ZC*
2410912024
COMPANIES HOUSE
A19
#102

New Horizon Ministries Limited
Annual report for the year ended 31 December 2023
Pages
Reference and administrative details
Trustees, report
Independent examiner's report
Statement of fiiiancial activities
Balance sheet
Statement of cash flows
10
Notes to the financial statements
11-18

New Horizon Ministries Limited
Reference and Administrative Details
Charity name
New Horizon Minisiries Limited
Charlty registration number
NIC101638
Company registration number
N1043211
Principal office
12 Killyvally Road Gaiwagh
Garvagh
Co Londondetry
BT515JZ
Registered office
12 Killyvally Road Garvagh
Garvagh
Co Londonde
BTS15JZ
Trusteesl Directors
Mr Paul Gilmore
R¢v Dr Andr¢w Brown (appointed 15ih May 2023)
Mr Cl)ristopher MeBiiniey (appoiiiled 15111 May 2023)
Dr Paul Coulter (resigned 17th August 2023)
Rev M¢irk Lennox (resigned 27th Scpt¢niber 2023)
Mrs Laura Nelson (resigned 16th October 2023)
Mrs Donna Jcnnin85 (re518ned 301h NDvember 2023)
Mrs Ali Knight (resigned 301h November 2023)
Secretary
Solicitor
Hcwill & Gilpin
14-16 Jaines Street South
Belfast
Co Anlrim
BT2 7GA
Bankers
Danske Bank Limited
Kilrea
l New Row
Colerain¢
Co Londonderry
BT515QS

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2023
The Trustees, who are also the Direcloi's of the company under the provisions of the Companies Act 2006, present
Iheir annual report aiid the unaudited fii)ancial sialemenis for the year ¢nded 31 December 2023. The Trustees liave
adopted the provisions of the Companies Act 2006 and the Statement of Recommended Practice (SORP)
'Accounting and Reponing by Ch8ri(ies" FRS 102 iii preparirtg the aniiual r¢port and unaudited financial statemen
of the Charity.
Organisatlon$
New 14ori20n Ministrie5 Limited is a registered chariry 2nd a Company limited by guarantee sei up on 14 May
2002. 11 is govemed by a Memorandum and Ai1ieles of Assoeiaiion that were last amended on 14 May 2002. The
Charity hus hlso succcssfully rcgislered with Ihc Chbrity Commission for Nonh¢rn Ireland number NICI 0168.
Mlsslon SIAtement
The mission stalemeni slates that New Horizon Miiiistries exisls to be used by God, through the power of His
Spii'il, lo inspir¢ a s¢lflcss surrender to His Son, a rJdical obedience io His Word, an enduiing passion for His
Kingdom. and an un¢ondition81 love for His World.
Structure, Govern4nce 4nd M4nag¢ment
Th¢ 8ov¢ri)in¥ do¢uin¢nt for New Horixon Minisiries is Lurrenily the iiieinorandum and articles of association. The
Boai'd has discussed aiid drafted protocols covering the board and Ihe ¢xccutive managem¢nl Icam. (Thes¢ were
adopted Jfter 31 Deceiiiber 2014 aiid have been regularly reviewed and updAted a.% neeess8ry). The primary
functions of the New Horizon board arc to provide vision and leadership foi. th¢ futur¢ course of the event, review
and proiecl ihc ethos and purpose of New Horizon and ensure theological bnlance throughout the or8anisalion.
The main lask of Ihe board is selectin8 themes 2nd main speakers for each yearfs evenl, ensuring Ihal main speak¢rs
reflect the varying 51rands of cvangclical conviclion. In addition, Ihe board is I'esponsible for appoinling new bo44rd
members.
Board members Serve for an initial period of three years and this be exlend¢d by mutual consent to a second
lem of a further three years.
The board seeks to eiisure thal a broad range of skills. ¢xperiei)ce, and background hpproprial¢ to the organisation is
maintained within Ihc boai-d membership.
The day to day management of the organisalion is delegated by the board to an executive manag¢menl leam.
Similar pi'incipl¢s of I'enewal are applied to this teain and the board ensures that all the necessary skills for running
Ihc organisaiion ar¢ pr¢s¢nl within that team.
The board. through its execLtlive management leani. ensuie that ftll risks to whi¢h the organisation is exposed are
identified, with systems and proceduyes iii place to inanage ihose risks.

New Horizon Ministries Limited
Trustee5' report for the year ended 31 December 2023 (continued)
Objectives and Activities
New Horizon aims io pi'ovide resources foi. and en¢ourage Christians in their Christian live$. This is done in line
with the mission slatement noted above.
The primaiy activity of Ncw Horizon Minisli'ies is the plannin8, organising. and running of an annual week-long
confei'ence. held eacli summer on Ilie cainpus of U151er Universily in Coleraine, Nortliern Ireland.
Tolal footfall during the week is around 30.0(K) with up to 3,000 people at an evenin8 evenl. Some people just come
for a day whilt others silly for the whole week which the b¢nefils ihe local hospiialiry industry. There is a fijll
prograinme of children's and youth activities from O -18 years. while the adult programme has a good spread of ages
and reflects a broad range of evangelicol conviction wi(hin Northern Ireland and further afield.
The aclivities of the event comprise Bible tcaching, worship, seminai's, and an extcnsivc prograrnmc foi. children
and youth.
In order lo siiecessfully run the conference. New Horizon makes significant use of volunteers. These volunleers are
involved in activities such as stewarding, site Inaiiilenance duriiig the eveni. runniiig youth and childi'ei)'s
prograinm¢s, accessibilily, financial maiiagemenl and adniiiii5tralion. promoiional aclivili¢s, semindr planning,
providing prayer and pastoral support as well as oiher acrivilies.
New Hori?oii esiiinaies tliat there are approximalely 400 volunieei's iiivolved in ihe manageineni aiid running of ihe
evei)t. Cl¢aKly ihe ecoiiomic value airribuled to rhese voluiileers is impossible lo measure aiid is Ihei'efore not
included in (he financial sthtemenls.
Public Benefit Stalement
New Hori£on's puip05e is to ddviince the Clirislidli faith. pai1i¢Lil4rly by leilLhiiig Clii'isiians the cliar41Cter of God
through Bible leaching and stimulaling Christians into further commitment in aclive Chrisiian sei'vice in Northern
Ireland Jnd throughout th¢ world. The direcr benefits whirh flow from this purpose inGlude bcneficiari¢s being
better cilizcns and gelling more involved in Iheir local Communities or challeii8cd lo do charitable acts in oihei.
courtlries. Thesc bencfils al'e demonstrated through feedback from beneficiaries and Ihe fact Ihal largc numbers
aiiend each year. It is believed ihal no h&rin arises from these puiposes. The chariry's beneficiaries al'e adults And
childi'en mainly From N Ireland. A privale benefil flowing from these purpose5 Ihat 15 incidental, is Ihal New
Horizon employ staff & engage suppliei's, this benefit coiih'ibutes directly to 4i¢hieviiig the Chai'ity's purpose.
Achievement ond Perform4nce
Following 2 years where the event could only be held as an online offering due lo Covid restrictions. 2023 was Ihe
rirsi full event since 2019 offering both aduli and children's elements of the event,
The Irusiees are pleased wilh ihe atlendance aiid engageinenl at the event aiid believe the eveni io be a .%ucces8.
Whilst numbei's were down aboLiI 201250/0 on 2019 Ihe Ii'usiees believe Ihis is in line with the gi'adual transition back
lo 'nom]al' following Covid and is in line wilh what has been se¢n across other siinilar cvents.
The trustees are sarisfied that the organisalion is being run in liiie with its staled mission statement.

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2023 (continued)
Fln&n¢ial revieiv
The Irusiees are pleased with Ihe overall financial perfom)an¢e of the organisation.
2023 ended with a deficit of £42,277 compared wilh a deficit of £6.493 in 2022. WhTrle the nornial event did take
plaLe for Ihc first year following 2 years of onliiic evcnls, numbers were reduced ihus having a dircct impact on the
income of the event which was down by r,15-20f/)o on 2019, the last full event. 2023 81so saw world events lead io a
cost of living crisis foi. Ihose living in Norihem Ireland which impacted aiiendees ability lo give. Costs were
impacted by large inflation costs as well as the impact of general world economic events. The Management Tearn
worked in all areas io rLduce costs where possible 41nd limit the overall iinpaGt of rising Gosts. Tlie fall in incomc
increase in cosls however nieant a deficit of £42k. This deficii has been covered by New Horizons general reserve5.
PIAns for future perlods
After reviewiiig tlic activity in 2023 the I￿Ste¢S are satisfied that ils aims and objeciives by organising Ihe week
conference should remAin unchanged.
Prlnelpoj #ctlvity
The pri17cipiI aclivily of the company is io advance the Chrisiiaii religion in accordance with Ihe doeiriiie5 llnd
principles sei oul in the Arti¢les of Association lo Ihe intent thal Chrislian believei's shall betier undei'sland the
chai'acter of God through biblical lea¢hing and be stiinulftled io express their commitment in active Christian service
in Ii'eland and Iliroughoui the world.
Risk mnn4gem¢nt
The Irusi¢es have assessed Ihe major risks io which ihe charity is exposed, in p8r(iculai' (hos¢ relaliiig lo thc
0￿ratIo1)S and finances of the Fund. The tl'U51ees are mindful of the risk of expendilure txcteding income and are
satisfied ihal systems are in place lo miligale exposure lo those risks, namely by promotin8 iiew Im¢8n5 of increasin8
income and mana8in8 the cosls of ihe conference.
In 2022 an independent Health & Safely consuliant was ¢ng8ged lo assess the operalional h¢alih & safely risk of the
evenl. The consultant reported positively about the policy, procedures and protocols in place and gave ihe Board
assurance that the H&S risks associated with the evenl were well managed.
The new risks associated with Covid 19 have been assessed and factored into the operational I'isk rnaiiagemeni
assessmeiic for lh¢ eveni.
All risks continue to be considered on an annual basis.
Reserves policy
The company's policy is to moinlain a level of unr¢stri¢ted funds ¢x¢luding fixed assets (the frec ies¢rves) Al
pproKimately a lev¢1 suffici¢nt lo meet the averag¢ charitable expendiluTe and njnning c05t5 for a period equivalent
lo six moi)Ihs exp¢ndi¢ui'e, which equaies 10 approximately £ I I I k (based on 2023). The actual "free reseives" al 31
Decen)b¢r 2023 were £94,140 (2022.. £136,417). The d¢ficii of 2023 has reduced r¢s¢rv¢s below tlie policy level
and the trustees will aim to address this in 2023.

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2023 (continued)
Statement of tru5tees' responsibilities
The trustees (who are also directors for the pulposes of company law) are Tesponsible for preparing the Trusiees,
Report and the finaii¢ial slatemenis in accordance with applicable18w and United Kingdom Aecouniing Siaiidards
(Uniled Kingdom Generally Accepted Accowiting Practice).
Company law requires ihe trLislees lo pr¢par¢ financial slalernents for each financial year. Undei. Ihal law th¢
'ustees have pi'epai'ed the financial statements in accordance with United Kingdom Generally Aeeepted Accounting
Practice (United Kingdom Accounting Standards and upplicable 18wl, including FRS 102 'The F inancial Rcportin8
Srandard applicable in ihe UK and Republic of Ireland" Under company law the Iiuslees must iiot approve the
rinancial 5th1eimenls unless ihey are saiisfied thai they give a Inje and foir view of the state of th¢ affairs of Ihe
chai'itable company and of ihe incomin8 resoui¢es and application of resources, ineluding the in¢ome and
expenditure, of the chariiable company for thal period.
In pffpariiig these financial staiements, the Irusiees are required to..
select suitable accounting polici¢s and Ih¢n apply them consistently;
observe the Inethods and principles in the Charilics SORP.
make judgements and accounting eslimales that are reasonable and prudent:
sia(e wheiheT applicable UK Ac¢ouiiling Staiidards and FRS 102 have been followed, subjecl to aiiy
material depariures disclosed and explained in the financial statemenis. and
prepare the financial slalemenis on Ihe going conceix basis unless it 15 inappropi'iate lo prcsumc that the
cliarilable compaiiy will conlinue in bvsiness.
The Iruslces are responsible for keeping proper accounting records that disclose with reasonable accuracy at any
lime the financial position of th¢ charitabl¢ company and enable Ihcm lo ensure th4t Ihc financial stJl¢ments comply
with ihe Compani¢s Act 2006. They are also responsible foi. safeguardiiig Ihc assets of the charitabl¢ company and
hence foi. taking reasonable sieps for the pi-evenlion and delcction of fraud gnd oth¢i' in'¢gulai'ilies.
Sm911 ¢ompanle5' exeniption
This report has been prepared in accordanGe with the special provisions relating lo small companies wiihin Part 15
of the Companies Act 2006.
The annual report was approved by the tmslees of the Charity"on 201h May 2024 and signed on ils behalf by..
Mr Christopher MeBurney
Trusiee

New Horizon Ministries Limited
Independent examiner's report to the Trustees of New Horizon Ministries Limited
I report on the accounts of thc Charity for ihe year ended 31 Deccmber 2023, whi¢h are $¢1 out on page$ 8 to l8.
Respe¢tlve responsibllltle5 01 ¢h•rlty trustees And examlner
As the chai'ity Ti'ustees you are Tesponsible for the preparation of the accounts In occordance with the requirements
of Ihe Chai'ili¢s Act (North¢im Ireland) 2008 and Coinpanies Act 2006. Having satisfied myself Ihai Ihe rharily is
not 5ubj¢ci to audit under the le8islalion and is eligible for independent examination, it is my responsibility to:
¢xamine the a¢counts under section 65 of the Charities Act
follow the proccdui'¢s laid down in ihe general Directions given by the Chai'ity Commission for Northern
Irelaiid under section 65{9)(bl of ih¢ Cliarilies Acl
stale whether particular mailers have coii)e lo my attention,
Basis ot. independent examiner's report
I have exainin¢d your charily accounts as requircd ui)dei' section 65 of the Charities Act and my examii)alion was
a￿led out in ac¢ordanGe with the general Directions given by the Chai'ity Commission for Northern Ireland under
se¢tion 65(9)(b) of the Charities Act.
The examination included a r¢view of ihe accounting records kept by the charity and a comparison of the accounts
pi'esented wilh Ihose records. It 81s0 included ¢onsideraiion of any unusual ilem5 01. disclosure5 in the accoLinlS, and
seeking ¢xplanaiions from you as ¢harity Ii'ustees conceming any such mailers.
My rolc is 10 slate whether any material mallers have come lo my atieniion giving me cause lo believe..
l. Thai accouniing records were not kept in accordance with section 63 of the Charili¢s Act and section 386 of the
Companie5 Act 2006
2. That the accoLints do not accord with those accoiinting records
3. That the accounts do not Comply with Ihe accounting requiremenis of section 396 of the Cornpanies A¢t and with
the mcihods and principles of the Charities Staiemenl of Recommended Practice applicable lo charities preparing
their a¢¢ounts in a¢cordanc¢ with the Financial Reporting Standard applicable in the UK and R¢publi¢ of Ireland
4. That therc 1$ furth¢r inlormHtion needed for a proper understanding of the accounts lo be reuch¢d.
Indepondent examincr's statement
I have completed my examination and have no ¢on¢erns in ttspect of the mattel's (l) to (4) listed above and. in
coiinectioii with followii)g tlie Directions of the Charity Commission for Northem Ireland. I have found no matters
that require drawing to your attention.
Samuel Dund¢e ACA
Belfast
20 May 2024

New Horizon Ministries Limited
Statement of Financial Activities (incorporating summary income and
expenditure account) for the year ended 31 December 2023
Unrestrlcted
Funds
2023
Unrestrlc¢ed
Funds
2U22
Note
Jncoming re$oure¢$ I Incom¢
Inctsmiiiig re.*nuree.slrom geiieratedfund.s
Volunt&ry income
Aclivili¢s foi. gcncr4ting funds
Jnveslmeni income
164,740
45,994
l.l96
211,930
142,173
38,688
183
Tot41 incomlng resources
Resources expended l Expenses
Cosls ofgeiieralin¥fuiids
Chariiable aclivilies
181,044
212,682
212,682
(752)
(752)
223,321
223,321
(42,277)
(42.277)
Total cnsts of gener*ting funds
Net income {expenditure)I Income
Net movement In I'unds
Fund funds brought forward at l January
Total funds carrled forward at 31 December
94,141
93,389
136.418
94,141
All dmounts above relate to continuing operations of Ihe ¢ompany.
The Gompany has no recogni$ed gains and losses oiher than those included in the results above gnd therefore no
separate slalement of total recognised gains and losses has been presenltd.

New Horizon Ministries Limited
Balanee sheet as at 31 December 2023
2023
2022
Note
Fixed assets
Tan
ible f￿¢d assels
li
356
813
Current assets
Debtors
Cash at bank and in hand
12
20J58
97J71
117,729
(24,696)
93,033
93,389
93J89
4,010
118,778
122,788
{29,460)
93,328
94,141
94,141
Creditors.. arnounts fallin
due within one
ear
13
Net current assets
TolAI assets less eurrent liabilities
Net a55etS
The funds of the charity
Unrestrlcled income funds
Total charit funds
16
93 J89
93,389
94,141
94,141
The directors consider that the company is entitled to exemption from. the requiiemeDt to bave an audil under the
provisions of section 477 of the Companies Act 2006 Act.) and members have not required Ihe cotnpany to obtain
an audit for the year ID question in accordance with section 476 of the Act.
The director5 acknoivledge IheiT re5ponsibililies for ensuring that the company keeps accounting records ivhich
comply with section 386 of the Act and for preparing flljancial 5talernenls which give a true and fair vieiv of tho
state of affairs of the company as at 31 December 2023 and of its profit for the year then ended in accordance with
the requirements of sections 394 and 395 of the Act and which othernvise comply with the requirements of the
Companies Act 2006 relating to the fmancial statements so far as applicable to the company.
These fmancial statements have been prepared in accordance with the provisions applicable lo companies subject
to the small companies, regime.
The fmancial statements on pages 8 to 18 were approved by the board on 20 May 2024 and were signed on ils
behalf by=
Mr Clvistopher McBurney
Truslee
The noles on pages I I to 18 are an integral part of these fmancial slalemenls
Company registration number: N1043211

New Horizon Ministries Limited
Statement of Cash FloTrvs for the year ended 31 December 2023
2023
2022
Notes
Cash
used b
rovided b
eratin
etivities
21,407
16,5S6
Cash flow from investin
activities- Purchase of tan
ible assets
Inereasel (Decrease) in cash and cash equivalents in the year
Cash and cash equivalents ot the beginning of the year
Total cash and cash equivalents at the end of the year
118,778
97,371
135,334
118.778
The notes on pages I I to 18 are ali integral part of these financiAI siaieinenrs
10

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
i) Accountlng policies
Tlie prirteipal a¢countiftg policies adopted. judgements and key sources of eslimaiion uncerlainry in rhe
preparation of Ihe financial stalemenrs are as follows..
A) General InformAtion
New Horizon is a seven day Chi'istiaii feslival that lakes plaee ¢very year on Ihc Ulster University campus
in Coleraine. sei on the piciuresque north coast of Northern Ireland. li exists to provide a space and lime
in which ihous8nds of people of all ages can be laughi from the bible, be inspii'ed through worship and
story, develop a missional heart. and engage with I'elevant and cliallenging issues.
b) Bas1$ of preparatlon
The charity financial 51al¢rnents have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice appli¢Abl¢ lo charities preparing Iheir accounts in
aceordan¢e wilh the Financial Reporiii)g Siandard applicable in the UK ai)d Republic of Ireland (FRS 102)
effective l January 2022) - (Chariries SORP (FRS 102)) and the Conip811ies A¢1 2006.
¢) Preparlltlon of Ae¢ounl$ on * golng concern bAsIs
Tl)ese fiiiancial siaiemenls are pi'epared on a goiiig concern basis under hisioric81 eosi eonveniion, and in
accordance with applicable accounting slandards in the United Kingdom, including the Statement of
Recominended Practice (SORP) FRS 102, 11)c Coinpanies Aci 2006 gnd applicable accounting policies.
d) Fund 4c¢ounting policy
Unre5trictcd income funds are general ￿ndS thal are available for usc al the Iruslees, disci'elion in fvrtheran¢e
of the objcciiv¢s of the charity.
e) Incnming resouTees
Donations ale re¢ognised where there is enliileineni, certainty of I'eceipl and the amounl can be measured
with surricienl reliabilily.
Incomin8 resources from lax reclaims are included in the statement of finunciml gctivilies al the same time
as the gift lo which they I'¢latc.
Ii)coine derived froin events is recognised as earned (Ilial is, as the I'elai¢d goods or sei'vices are piyivided).
Inveslmeni income is recognised on a receivable bisis.

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
l) Accounting policies (continued)
Resources expended
Liabilities are recognised as soon as there 15 a legal or constructive obligation committing the charity lo the
expenditure. All expenditure is accounted foi. on an accruals basis and has been classified under headings
thai aggregate all cos15 related to Ihe category.
Cli8rilable expendiNre comprises those costs incurred by the charity in the delivery of ils aclivilies and
services foi. lis beneficiaiies. It includes both costs that can be allocated direcily 10 5u¢h activities and those
costs of an indireci iiature necessairy lo suppo11 Iheni.
8) Govcrn4nee costs
Governance costs include costs of the preparation and examiiiaiion of tlie sianjtoiy aecounls. the ¢osis of
Iruslee m¢elings and the cosi of any l¢gal udvice EO trustees on goveman¢c or constirulional mailers.
h) Support costs
Support costs include central functions and liave been allocal¢d 10 aciivily cosi Categories on a basis
consislenl wilh tlie use of resource5, for exaniple, allocating pi'operty costs by floor areas, or per capila, qiaff
C051s by Ihc lime spent and oihei. costs by their usa8¢.
I) TAnglble fixed assets
Individual fixed as5ers costing £ 100 or more are initially recorded ai cosi.
Tangible fixed aqseis ar¢ sialcd at cost l¢$s dcprecialion. Depreciation is provided on iangible fixtd assets
so as lo write off Ihe c05t or valu8tion, less Jny estimated residual value, over iheir expected useful economic
life as follows-
FixDJre8 and fillin85
Office equipmeiil
25 % straight line
25Q/o Slraiglil line
J} Cash ai bank And in hand
Cash al bank and in hand includes cash. deposils held at call with banks and oih¢r short-lem highly liquid
invesmienis with original maturities of fhree monihs of less.
k) Financial instrum¢nt$
The Charity only ha$ financial assets and financial liabilities of a kind that qualify as basi¢ financial
insirumenis. Basic financial instrument$ al'e initially recogiiised at Iransac(ion price and subsequcnily
measured at their settlement value, unless the arrangement constitutes a financing transaction. Fiiiancing
Iransaclioi)s are initially measured al the present value of the fvture receipts discounted at a markel rate of
interest, and are subsequently carried al amorlised cost, using the effective int¢resl rate Inethod.
l) Operating leases
ReDlals payable under opei'ating leases are charged in the slalemenl of financial activiiies on a straigh( line
basis ovei- the lease ierm.
.12

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
2) Critical accounting judgements and estimation uncertainty
Eslimotes and judgm¢nls are Continually evaluaied and are based on historical experience and other factors,
including expectalions of fijture events that are beli¢ved to be reasonable under the circumstances.
Crilicaljudgeme171s in opiJlysi?g (he ¢pJlity's accounling policies
Thcre ai'¢ no critical judg¢m¢nts in applying thc company's accounting policies.
Critical accoNniiKg esiimates and assumpiions
There al'e no criti¢41 accountin8 estimates and assuniplions.
13

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
3) Voluntary income
Unrestricted F￿Thd$
2023
Unrestricted Funds
2022
Don*tiOll5 4nd offerin
Committed giving
Appeals and donations
Gift Aid lax reclaimed
116,899
27,459
20,J82
164,740
101.596
19,106
21,471
142,173
4) Aetivities for generatlng funds
Unrcstrlcted Funds
2023
Unreslrlcted Funds
2022
Tradin
income
Other Iradin8 income
8,816
8.601
Events income
Ertlrance fees
Conlribulion
2Y,853
8,325
45,994
22,454
7,633
38.688
S) Investment income
Unrestricted Funds
2023
Unrestricted Funds
2022
Interest receivable and simllar Income
Inleresi receivable on bat]k de
osits
183
183
14

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
6) Charitable activates
Unrestricled funds
2023
UnreslriLted funds
2022
Sile costs
Telephone
Printing, POSlin8 and stationery
Technical services
Equipin¢nl hire
Sundry and other costs
Honorarium I speakers
Trading costs
Travel 31?d subsisrei?¢e
Adverlising and promotion
Insurance
Employinent cosls
Domestic expenses
IT costs
Legal aiid professional costs
Bank charges
Depreciaiion of tangible fixed assets
One Off
84,008
920
2,642
31,S45
465
11,036
20,762
84,525
981
3,012
31.97S
1,000
15,027
25,577
1,045
6.000
.326
7,416
30,119
859
13.225
450
254
530
7,751
155
8,531
35,258
704
7,852
462
134
457
2J 2,682
223,321
7) Net Incomel (expenditure)
Nei iiicoinel (expenditure) is slated after charging
2023
2022
Depreci*tlon of tangible tlxed Assets
457
530
8) Trustees, remuneration and expenses
No ¢iwsl¢es, noi. any persons COilli¢clcd with thein, have received ally i'emun¢ralioii from the chgrily duriiig lh¢
yeai. (2022.. Nil).
No tiijsiees have r¢c¢ived any reimbLiYscd expenses from the charily during the year (2022.. Nil).
No key iiianagenient personnel have received any T¢muoeration from the charily duTing the year (2022.. Nil).
The charity has indemnity insurance for its tnjstees at a cost of £341 (2022.. £341).

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 Decernber 2023
9) Employees, remuneration
The aggregate payroll costs of these persons were as follows
Eniployees
2023
2022
Sialf costs
Wages and salaries
So¢ial s¢eurity ¢o$t$
34,070
1,188
35,258
28.681
1,438
30.119
The average number of person$ employed by the charity during Ihe year was as follows..
2023
No.
2022
No.
Manasemenf and adminislralion
No ciiiployee received emoluinenls of more than £60,000 during the year (2022 - No. O).
10) Taxation
The charily is a I'egisiered charity. and as such is ei)litled to certain lax exeinpliorts ort income and profits from
investments, and surpluses on aiiy trading a¢iivitie5 carried on ii) furtherance of the charity's primary objectives,
if Ihese profits and surpluses are applied solely for charitable purposes.
11) Tangible fixed assets
Fixtures &
ritting5
Compuler
Equipment
Total
Cost
At l JanLiary 2023
Additions
At 31 December 2023
6,323
1,038
7,361
6,323
1,038
7,36J
A¢¢umulat¢d d¢prc¢lallon
Ai l January 2023
Charge for the year
At JI DeL'ember 2023
5.537
1,01 I
27
1,038
6,548
457
7,005
5,967
Net book amount
At 31 December 2023
Ai 31 Dei¢mb¢i' 2022
356
786
356
27
813
16

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
12) Debtors
2023
2022
Oiher debtors
Prepayments and accrued income
io
20,348
20,358
10
4,000
4.010
13) Creditors: amount5 falling due within one year
2023
2022
Crcdit card
23
Trade ¢reditors
Oth¢i' laxe5 aiid $o¢ial s¢¢ui'ity
Accruals
600
1,064
23,009
24,696
830
357
28,273
29,460
14) Charity status
The charity is a private company limited by guarantee and consequenily does not hav¢ share capital. Each of the
Inembers is liable io contribute an aniounl noi ex¢eeding £10 towards Ihc assets of the charily in the event of
liquidation.
IS) Financial instruments
The company has the following financial inslrumenls..
2023
2022
Financsal assets measured at amortised cost
Othei. debiors and accrued income
20,358
4.010
FinaneiAI Ilabllltles measured at Amortlsed co$t
Trade creditors
A¢¢ruals
600
23,009
23,609
830
28,273
29,103
16) Analysis of funds
l January
2023
Incomel
31 December
2023
gains
Expenses
Unrestricted Generil Funds
Unresli'i¢ted inconie furtd
94,141
21 1,930
212.682
93J89
17

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2023
17) Analysis of Net assets between funds
Unrestricted
Funds 2023
Unreslricled
Funds 2022
Analysis of type of asset and liability
Fixed Assers
Current asseis
Credi(ors.' amounts fallin
Net Assets
356
117,729
(24,696
93,389
813
122,788
(29,460
94,141
due wiihin one
ear
18) Reconciliatlon of net movement in funds to net cash flow from operating actlvitles
202J
2022
Nel moveinenl in funds
{752)
457
(42,277)
530
Add back d¢preciation charge
(In¢ita8e) in debloi's
{Decrease)l increase in creditors
Net L115h provided byl {uscd by) operating activities
(16,348)
(4,764)
21,407
(3.668)
28.859
16.556
19) Financial commitments
Ai 31 De¢ernber 2023 Ihe charity had no finan¢ial commitments (2022.. Nil).
20) Capital commitments
Al 31 December 2023 the chhrity had no capital Commitments (2022.. Nil).
21) Related party transactions
No related party transactions.
22) Ultimate Controlling party
Tliere is iio ultimate controllin8 party.
18