Company registration number.. N1043211
Charity registration number: NICI 01638
New Horizon Ministries Limited
(Company Limited by Guarantee)
Annual report and unaudited financial
statements
for the year ended 31 December 2024
*AECEJHV6'
' 0311012025
COMPANIES HOUSE
•AE8Z5PKB*
27A￿l2025
COMPANIES HOUSE
'A20
#26

New Horizon Ministries Limited
Annual report for the year ended 31 December 2024
Pages
Reference and administrative details
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
Statement of cash flows
10
Notes to the tinancial"statements
11-18

New.Horizon Ministries Limited
Reference and Administrative Details
Charity name
New Horizon Ministries Limited
Charlty registration number
NIC101638
Company registration number N1043211
Ncm House
218 York Street
Belfast
BT15 IGY
Principal office
Registered office
Ncm House
218 York Street
Belfasi
BT15 IGY
Trustee$l Directors
Mr Paul Gilmore (Resigned 20 May 2024)
Rev Dr Andrew Brown
Mr ChrislophLr M,LBurney
Ms Alison SteLn (Appointed 20 May 2024)
Ms Caroline Chambers (Appointed 20 May 2024)
Mr Gilbert Lennox ( Appointed 20 May 2024)
Secretary
Ms Caroline Chambers
Solicitor
Hewitt & Gilpin
14-16 James Street South
Belfasl
Co Antrim
BT2 7GA
Bankers
Danske Bank Limited
Kilrea
l New Row
Coleraine
Co Londonderry
BT515QS

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2024
The Trusiees, who are also the Directors of the company under the provisions of the Companies Act 2006, PTesent
their annual report and the unaudited fmancial statements for the year ended 31 December 2024. The Trustees have
adopted the provisions of the Companies Act 2006 and the Statement of Recommended Practice (SORP)
"Accounting and Reporting by Charities" FRS 102 in preparing ihe annual report and unaudited financial stalements
of the Charity.
Org4nlsatlons
New Horizon Ministries Lirnited is a registered charity and a company limited by guarantee set up on 14 May
2002. It is governed by a Memorandum and Articles of Association that were last amended on 14 May 2002, The
Charity has also successfully registered with the Charity Commission for Northern Ireland number NIC10168.
Mlssion S¢4tement
The mission statement states that New Horizon Ministries exists to be used by God, through the power of His
Spirit, to inspire a selfles5 surrender to His Son, a radical obedience to His Word, an enduring passion for His
Kingdom, and an unconditional love for His World.
Structure, Governan¢¢ and Management
Th¢ governing document for New Horizon Ministries is c'Jrrenl'ly.the memoranduni and articlè& of association. The
Board has discussed and draftLd protocols covering ihe board and the executive management team. (These were
adopted after 31 December 2014 and have been regularly reviewed and updated as necessary). The Primary
functions of the New Horizon board are to provide vision and leadership for the fuNre course of the event, review
and protect the elhos and purpose of New Horizon and ensure theological balance throughout the orghnisation.
The main task of the board is selecting themes and main speakers for each year's event, ensuring that main speakers
reflect ihe varyin8 strands of evangelical conviction. In addition, the board is rcsponsible for appointing new board
members.
Board members serve for an initial period of three years and this can be extended by mutual consent to a second
tem of a further three years.
The board seeks to ensure that a broad range of skills, experience, and background appropriate to the organisation is
maintained wiihin the board membership.
The day to day managernenl of the organisation is delegated by th¢ board to an executive management team.
Similar principles of renewal are applied to this team and the board ensures that all the necessary skills for running
the organisation are present wiihin that team,
The board, through its executive management leam, ensure that all risks to which the organisation is exposed are
identified, with systems and procedures in place to manage those risks.

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2024 (continued)
Objectlves and Aclivitles
New Horizon is committed to resourcing and encouraging Christian5 in their faith jOUTney> in alignment with the
organisation's mission statement.
The core activity of New Horizon Ministries is the planning, organisation. and delivery of an annual week-long
summer conference held at the Ulster University campus in Coleraine, Northern Ireland.
The event typically sees a total weekly footfall of approximalely 30,000, with evening sessions attracling up lo
3,000 attendees. While some participants attend for a single day. many stay for the full week, contributing positively
to the local hospitality sector. The conference features a comprehensive programme for children and young people
aged 0-18. alongside an adult programme that appeals to a wide age range and represents the diversity of
evangelical Christian perspectives acr0$5 Northern Ireland and beyond.
Key elements of the event include Bible teaching, worship, seminars and a substantial children's and youth
programme.
The successful delivery of the conference relies heavily on a large and d¢dicat¢d ieam of volunteers. These
individua15 SUPPOrt a wide range of ￿nCtIOnS including slewarding, site operations, youth and children's ministy,
accessibiliry support, financial admini5tralion, promotional aclivity. seminar coordination. and the proviston of
pastoral and prayer sUPPOrt.
11 is estimated Ihat around 400 volunieers contribute to the organisalion and running of the event. While their
contribution is vital to the success of the conference, Ihe economic value of their time is not quantified in the
financial statements.
Public B¢nefit Statement
New Horizon's purpose is to advance the Christian faith, particularly by teaching Chrislians the character of God
through Bible teaching and stimulating Christians into further commitment in active Chrisiian service in Northern
Ireland and throughout the world. The direct benefits which flow from this purpose include beneficiaries being
better Ciiizens and getting more involved in their local communities or challenged io do charitable acts in other
countries. These benefits are demonstrated through feedback from beneficiaries and the fact that large numbers
attend each year. It is believed that no ham arises from these purposes. The charity's beneficiaries are adulis and
children mainly from N Ireland. A private benefit flowing from these purposes that ts incidental, is that New
Horizon employ staff & engage suppliers, this benefit contributes directly to achieving the charity's purpose.
Achievement and Performance
The 2024 conference was the third fully in-person New Horizon event since 2019, offering a fvll programme for
both adults and children. The trustees arc pleased to report Ihat the event was a significant success, with attendance
and engagemenl returning to pre-2019 levels. The strong turnout reflects the conlinued relevance of the event and
the commitment of ihe New Horizon community.
The trustees are encouraged by the participation across all age groups and believe the event met its objectives. They
remain satisfied that the organisation ¢ontinue5 lo operate in alignment with its staled mission, providing valuable
opportunities for Christian teaching, worship, and fellowship.

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2024 (continued)
Financial review
The trustees are pleased wilh the overall financial perforniance of the organisation.
2024 ended with a deficit of £12,044 compared with a deficit of £753 in 2023. Costs were impacted by large
inflalion costs as well as Ihe impact of general world economic events. The Management Team worked in all areas
to reduce costs where possible and limit the overall impact of rising costs. The fall in income and increase in costs
however meant a deficit of £12k, This d¢fi¢it has been covered by New Horizons general reserve5.
Plans for future periods
After reviewing the activity in 2024 the tNstees are satisfied ihat ils aims and objectives by organising the week
conference should remain unchanged.
Principal activity
The principal activity of the company is to advance the Christian religion in accordance with the doctrines and
principles set oul in the Articles of Association to th¢ intent that Christian believers Shall better understand the
character of God through biblical teaching and be stimulated to expre5S their commilm¢ni in active Christian service
in Ireland and throughout (he world.
Risk m8nagement
The trustees have assessed (he major risks to which the charity is exposed, in particular those relating lo the
operations and finances of the Fund. The tnJ5tees are mindful of the risk of expenditure exceeding income and are
satisfied that Systems are in place to mitigate exposure to those risks, namely by promoting new means of increasing
income and managing the costs of the conference.
In 2023 an independent Health & Safety consultant wa5 engaged to assess the operational health & safety risk of the
event. The consullanr reported positively about the policy, Procedures and protocols in place and gave the Board
assurance that the H&S risks associated with the event were well managed.
All risks continue to be considered on an annual basis.
Reserv¢5 policy
The cornpany's policy is to mainlain a level of unrestricted funds excluding fixed a55ets (the free reserves) at
approximately a level sutTicienl lo mcet the average charitable expenditure and running costs for a period equivalent
lo six months expenditure, which ¢quales to approximately £109k (based on 2024). The artual "free reserves" at 31
December 2024 w¢r¢ £71,345 (2023.. £93,389). The deficit of 2024 has reduced reserves below the policy level and
the trustees will aim to address this in 2025.

New Horizon Ministries Limited
Trustees, report for the year ended 31 December 2024 (continued)
Statement of trustees, responslbllltles
The trustees (who are also directors for the purposes of cornpany law) are responsible for preparing the T￿steeS,
Report and the financial statements in accordance with applicable law and United Kingdorn Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under that law the
trustees have prepared the financial statemenls in accordance with Uniled Kingdom Generdlly Accepted Accountin8
Practice (United Kingdom Accounting Standards and applicable law), including FRS 102"The Financial Reporting
Standard applicable in the UK and Republic of Ireland". Under company law the trustees must not approve the
financial slatements unless Ihey are satisfied ihat they give a tru¢ and fair view of the state of the affairs of the
charitable company and of the incoming resources and application of resources, including the income and
expenditure, of the ¢haritable company for that period.
In preparing these finantial statements, the trustees are required to..
select suitable accounling policies and then apply them consistently,
observe the method5 and principles in the Charities SORP;
make judgements and accouniing estimates that are reasonable and prudent.
slate wheiher applicable UK Arcounling Siandard5 Éiiid FRS 102 have been followed, subject to any
material departures disclosed and explained in the financial statements; and
prepare the financial slat¢ments on the goin8 concern basis unless it is inappropriate to presume that the
charitable company will conlinue in bu5ines5.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any
time the financial position of ihe charilable company and enable them to ensure that the financial stalements comply
with the Companies Act 2006. They are also responsible for safeguarding ihe assets of the charitsble company and
hence for taking r¢a50nable Steps for ihe prevenlion and detection of fraud and other irregularities,
Small companles, exemption
This report has been prepar¢d in accordance with the special provisions relating to small companies Wlthin Part 15
of the Companies Act 2006.
The annual repo
wa5 approved by the trustees of the Charity on 20 September 2025 and signed on its behalf by:
Ms Caroline Chambers
Trustee

New Horizon Ministries Limited
Independent examiner's report to the Trustees of New Horizon Ministries Limited
I report on the a¢counts of the charity for the year ended 31 De¢¢mber 2024, whi¢h are set out on p8g¢s 8 to 18.
Resptttive responsibilities of thgrity truste&s attd examlller
As the charity Trustees you are responsible for the preparation of ihe accounts in accordance with the requirements
of the Charities A￿ (Northern Ireland) 2008 And Companies Act 2006. Having satisfied myself thai the charity 18
not subject to audit under ihe legislaiion And is eligible for independent examination, it is my responsibility to:
cxamine the a¢¢ounts under se¢tion 65 of the Charities Act
follow Ihe pro¢edures laid down in the general Directions given by the Charity Commission for Northern
Ireland under section 65(9)(b) of the Charities Act
stale whether particular motlers have come to my attcntion.
B4$1$ of Independenl examlner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my exwnination was
ca￿led out in Accordance with the general Directions given by the Charity Commission for Northern Ireland under
section 65(9)(b) of the Charities Act.
The examination included a review of ihe accounting records kept by the charity and a L%)mpari50n of the accounts
presented with those records. It also included ronsideration of any unusual items or disclosures in the accoun￿ and
seeking explanations frorn you hs charity trusiees con¢emin8 any such matters.
My role is to state whether any material matters have come to my Attention 8iving me cause to believe:
l. That accounting records wer¢ not kept in accordance with section 63 of thc Charities A¢i and section 386 of the
Companies Act 2006
2. Thal the accounts do not &ecord with those &ccouniin8 records
3. That the accounts do not eomply with thc accountin8 requirements of section 396 of the Cornpanies Act and with
the methods and prin¢iples of the Charities Stsiemeni of Recommended Praciice applicable to charities preparing
their accounts in &¢wrdance with the Financial Reporting Staftdard applicable in the UK and Republi¢ of Ireland
4, That there is further infomation needed for a proper und¢rstandin8 of the a¢￿Unts to be reached.
Independent ¢X8mln¢r'$ $t4lement
I have ￿Mpleted my examination and have no concerns in respect of the matters ( l) to (4) lisied above and, in
connection with following the Directions of the Charity Commission for Northern Ireland. I have found no matters
that require drawing to your attention.
Sajnutl Thmdee ACA
Belfast
20 September 2025

New Horizon Ministries Limited
Statement of Financial Activities (incorporating summary income and
expenditure account) for the year ended 31 December 2024
I Inrestrlcled Re5¢ri¢ted
Funds
Fund$
Totol
Total
Funds
Funds
2024
2024
2024
2023
Note
'In¢oming resource5 1 Income
Jncomlng resource5from generoled
funds
Voluntary income
Activities for geneTatin8 fund5
Investment income
146,613
48,134
10,000
156,613
48,134
164,740
45,994
Total incom in
resources
196 236
206 236
211930
Resources ¢xpend¢d l Expenses
Cosls ofgeneraiingfunds
Charitable activities
218 280
218 280
212682
Total costs of
eneratin
fund$
218 280
218280
212682
Net income/
ex
enditure
752
Net movement in funds
Fund fijnds brought forward at I
Jarjua
(22,044)
i 0,000
(12.044)
(752)
93
89
Total funds carrled forward at 31
Deeember
All amounts above relate to conlinuing operalions of the company.
The company has no recognised gains and losses other ihan those included in the results above and therefore no
separate statement of total re¢ogni5ed gain5 and losses has been present¢d.

New Horizon Ministries Limited
Balance sheet as at 31 December 2024
Unrestricted
Funds
2024
Restrieted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Note
Fixed assets
Tangible fixed assets
356
356
Current assets
Debtors
Cash at bank and in hand
12
5,263
91,614
96,877
(2S,532)
5,263
20,358
101,614
97,371
106,877
117,729
(25,532) (24,696)
10,000
10.000
Creditors: amounts falling due wlthln
one
ear
Net current gssets
13
71,345
71,345
10.000
10,000
81 J45
81 J45
93.030
93,389
To¢al assets less eurrent liabilities
Net assets
71,345
10,000
81,345
93,389
The funds of the charity
u.nrestricted income funds
16
71,345
Jo,000
81 J45
93,389
Total eharliy funds
71,345
10,000
81J45
93.389
The directors consider that the company is entitled lo exemption from the requirement to have an audit under Ihe
provisions of section 477 of ihe Companies Act 2006 Act,) and members have not required the company to obtain
an audit for the year in question in accordance with section 476 of the Acl.
The directors acknowledge their responsibilities for ensuring that ihe company keeps accounting records which
comply with section 3 86 of the Act and for preparing financial statemenls which give a true and fair view of the
slate of affairs of the company hs at 31 December 2024 and of its profit for the year then ended in accordance with
the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of ihe
Companies Act 2006 relatin8 to the financial statements so far a5 applicable to the company.
These financial statements have b¢en prepar¢d in accordance with the provisions applicable to companies subject
to the small companies, regime.
The financial statements on page5 8 to 18 were approved by the board on 20 Sept¢mb¢r 2025 and w¢re signed on
its behalf by.,
Ms Caroline Ch bers
TTU5te¢
The notes on pages I I to 18 are an integral part of these financial statements
Company registration number.. N1043211

New Horizon Ministries Limited
Statement of Cash Flows for the year ended 31 December 2024
2024
2023
Notes
Cash
rovided b I
used b
ergtin
activities
18
Cash flow (rom investin
aelivi¢ies- Purchase of tan
ible assets
Increase/ (Decrease) in cash 8nd cash equivalents in the year
Cash and cash equivalents al the beginning of ihe year
Totll cash and cash equlvalents at the end of the ye8r
97,371
101,614
118.778
97,371
The notes on pages I I to 18 are an integral part of these financial stalements
10

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
i) Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial stalements are as follows-
a) General Information
New Horizon is a seven day Christian festival that takes place every year on the Ulster University carnpus
in Coleraine, set on the picturesque north coast of Northern Ireland. 11 exists to provide a space and time
in which thousands of people of all ages can be taught from the bible, be inspired through worship and
story, develop a missional heart, and engage with relevant and challenging issues,
b) Basis of preparation
The charity financial stalemenls have been prepared in accordance with A¢¢ounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
effective l January 2023)- (Charities SORP (FRS 102)) and the Companies Act 2006.
c) Prepara¢lon of account$ on a going concern basis
These financial statements are prepared on a going Concern basis under historical cost convention, and in
accordance with applicable accounting standards in the United Kingdom, including the Statement of
Recommended Practice (SORP) FRS 102, the Companies Act 2006 and applicable accounting poIici¢s.
d) Fund 8¢countlng policy
Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance
of the objectives of the charity,
e) Ineomlng resources
Donations are recognised where there is entitlement, Certainty of receipt and the amount can be measured
with sufficient reliability.
Incoming resourc¢s from lax reclaims are included in the stalement of financial activitie5 at the same time
as the gift to which they relate.
Income derived from events is recognised as earned {that is, as ihe related goods or services are provided).
Investment income is recognised on a receivabl¢ ba515.
11

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
l) Accounting policies (continued)
r) Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the
expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all costs related io the category.
Charitable ¢xpenditur¢ comprises those rosls incurred by the charity in the delivery of it5 activities and
services for its beneficiaries. It includes boih costs that can be allocated directly to such activities and those
Costs of an indirect natur¢ necessary to support them.
g) Governance costs
Governance costs include cosls of the preparation and examination of the statutory accounts, the costs of
trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
h) Support costs
Support costs include central funclions and have been allocaled to activity Cost categories on a basis
consistenl with the use of resources, for example, allocating prop¢rty Costs by floor hreas. or p¢r capita. slaff
costs by the lime spenl and other costs by their usage.
l) T Angible llxed as$e¢s
Individual fixed assets costing £ 100 or Inore are initially.r.ecorded al cost.
Tangible fixed assets are stated at cost less depreciation. 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..
Fixtures and fittings
Office equipment
250/0 straight line
250/¥ straight line
j) Cash It bank and in hand
Cash at bank and in hand include5 cash, deposit5 held at call with banks and other 5hort-tenn highly liquid
investments with original maturitie5 of ihree months of less.
k) Financlal instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic f)nancial
instruments. Basic financial tnstruments are initially recognised at transaction price and subsequently
measured at their settlement value, unless the arrangement constitutes a financing transaction. Financing
transactions are inilially rneasured at the present value of the future r¢ceipts discounted at a market rate of
interest. and are subsequently carried at amortised cost, Using the effective interest rate method.
l) Operating leases
Renta15 payable under operating leas¢5 8re charged in the statement of financial activities on a straight line
basis over the l¢a5e tern].
12

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
2) Critical accounting judgements and estimation uncertainty
Estimates and judgments are continually evaluated and are based on historical experience and other factors,
including expectalions of fufure events that ar¢ believed io be reasonable under ihe circumstances,
Crilicaljudgemenis in applying ike enlity's accountingpolicies
There are no critical judgements in applying the company's accounting policies.
Crilical accounling eslimales and assumptions
There are no critical accounting eslimales and assumptions.
13

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
3) Voluntary income
Unr¢5tricted
Funds 2024
Restricted Total Funds
Funds 2024
2024
Total Funds 2023
Donations and of(¢rings
Committed giving
Appeals and donatioTJs
Gift Aid tax reclaimed
103,228
26,724
16,661
146,613
103.228
36,724
16,661
156,613
116.899
27.459
20,382
164.740
10,000
10,000
4) Activities for generating funds
Unrestrieled
Funds 2024
Restricted Total Funds
Funds 2024
2024
Totsl Funds 2023
Tradlng In¢ome
Other trading income
8,565
8,565
8,816
Evenls Income
Entrance fees
Contribution
29,541
10,028
29,541
10,028
28,853
8,325
S) Investment income
Unrestrleled
Funds 2024
Restrieled Totol Funds Total Funds 2023
Funds 2024
2024
Interest reteiv#ble and similar
Income
Interest receivable on bank deposits
1,489
1,489
1,489
1,489
1,196
1,196
14

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
6) Charitable activates
Unrestricted
Restritted
runds 2024 fund$ 2024
Total fund5
2024
Total funds 2023
Site costs
80,025
820
80,025
820
84,010
920
2,642
31,545
465
11,036
20,762
Telephone
Printing. posling and stationary
Technical services
Equipment hire
Sundry and other costs
Honorarium I speakers
Trading costs
Travel and subsistence
Advertising and promotion
Insurance
Employment costs
Dom¢5ti¢ ¢xpenses
IT costs
1,844
37,037
1,440
12,419
19,552
3,990
1,292
532
1,844
37,037
1,440
12,419
19,552
3.990
1,292
$32
7,751
155
8,814
39J15
1,367
8,541
.679
8,814
39JlS
1,367
8,541
679
8,531
35,258
704
7,852
462
Legal and professional costs
Bank charges
Depreciation of tangible fixed assets
257
257
134
356
356
455
218,280
218,280
212,682
7) Net Incomel (expenditure)
Net incomel (expenditure) is slated after charging
Unreslrict¢d R¢stricted Total funds
runds 2024 fund5 2024
2024
Total funds 2023
Depreciation of tangible fixed assets
457
8) Trustees, remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the
year (2023.. Nil).
No trustees have received any reimbursed expenses from the charity during the year (2023.. Nil).
No key management personnel have received any remuneration from the charity during the year (2023- Nil).
The charity has indemnity insurance for its trustee5 at a cost of £0 (2023.. £341).
15

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
9) Employees, remuneration
The aggregate payroll costs of these persons were as follows
Employees
2024
2023
Staff costs
Wages and salaries
Social security cosls
39,094
221
39,315
1,188
35,258
The av¢rag¢ number of persons employed by the charity during the year was as follows:
2024
2023
Management and administration
No employee received emoluments of more than £60,000 during the year {2023 - No. O).
10) Taxation
The charity is a registered charity, and as such iv entitled to certain tax exemptions on income and profits from
investments, and surpluses on any trading activities Ca￿led on in furtherance of th¢ charity's primary objectives,
if these profits and surpluses are applied solely for charitable purposes.
I l) Tangible fixed assets
Flxtures &
rittings
Computer
Equipment
Total
Cost
Ai l January 2024
Additions
At 31 December 2024
6,323
1,038
7,361
6a23
1,038
7J61
Accumulated depreclallon
At l January 2024
Charge for Ihe year
At 31 December 2024
5.967
356
6a23
,038
7,005
356
7J61
1,038
Net book amount
At 31 December 2024
At 31 December 2023
356
356
16

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
12) Debtors
2024
2023
Other debtors
Pre
ments and accrned income
io
S,253
10
20,348
20,358
13) Creditors: amounts falling due within one year
2024
2023
Credit card
23
Trade creditors
Other taxes and social security
A¢¢ruals
600
1,064
23,009
24.696
122
25,410
25,532
14) Charity status
The chariry is a privat¢ company limited by guarantee and consequently does not have share capitsl. Each of the
members is liable lo contribute an amount not ¢xc¢eding £ l O toward5 th¢ assets of the charity in the event of
liquidation.
15) Financial instruments
The company ha5 the following financial instruments.,
2024
2023
Financial assets measured at amortised cost
Other debtors and accrued income
5,263
20,358
Financial liAbilities measured wt amortised eosl
Trade credilors
Accruals
600
23,009
23.609
25,410
25,410
16) Analysis of funds
l January 2024
Income/ Gain
Expenses
31 December 2024
Unrestrieted Gener81 Funds
General Account
93,389
196,236
2] 8,280
71 J45
Restricted General Funds
Tenl Fund
10,000
206,236
10,000
81 J45
Total Funds
93,389
218,280
17

New Horizon Ministries Limited
Notes to the financial statements for the year ended 31 December 2024
17) Analysis of Net assets between funds
Unrestricted
Funds 2024
Restricled
Funds 2024
Total Funds
2fi24
Total Funds
2023
Analysis of type of asset and Ilab5111y
Fixed Assets
356
Cu￿ent assets
96,877
10,000
106,877
117,729
Creditors.. amounts fallin
due wiihin one
ear
Net gssets
18) Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Nel movement in funds
Add back deprecialion charge
Decreasel (Increase),in debtors
Increase/ (Decrease) in creditors
Ne¢ cash provided byl (used by) operatlng actlvltles
(12,044)
356
(752)
457
(16,348)
(4,764)
21.407
1 5,095
836
4,243
19) Financial commitments
Al 31 December 2024 the charity had no financial commitments (2023: Nil).
20) Capital commitment$
At 31 December 2024 the charity had no capital commitments (2023.. Nil).
21) Related party transactions
No related party transactions.
22) Ultimate controlling party
There is no ultimate controlling party.
18