## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES** 

## **ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] AUGUST 2024** 

Registration NI 062702 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2024** 

||Pages|
|---|---|
|Report of the Directors|2 - 7|
|Independent Auditors Report|8 - 10|
|Consolidated Statement of Financial Activities|11|
|Consolidated Statement of Financial Position/Balance sheet|12|
|Company Statement of Financial Position/ Balance sheet|13|
|Consolidated Statement of Changes in Funds|14|
|Consolidated Cash Flow Statement|15|
|Notes to the financial statements|16 - 24|



1 



**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **REPORT OF THE DIRECTORS (INCORPORATING TRUSTEES’ REPORT)** 

The Directors (who are also the trustees) are pleased to present their annual report together with the financial statements of the charity for the year ended 31[st] August 2024, which are prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The directors have adopted the provisions of the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP – FRS102), in preparing the annual report and financial statements of the charity. 

## **Achievements and performance** 

The Church’s desire is to be a reflection of God’s heart through a vibrant, 21st century church. We are committed to building a spirit-filled people who are inspired by Christ enjoying us, enjoying Him. A people who are driven by compassion to reach lost and hurting people, and to be a transforming presence in the communities we serve. Believing that our communities greatest need is the Lord Jesus Christ. 

In the year 2024 we experienced consistent increases in audience attendance at our Sunday Services, leading to greater community engagement. Volunteer supply has improved within all ministries. We are thankful for the talents and abilities of our volunteers who give many hours in service, for the benefit of the church and the community in the achievement of our charitable aims. 

We celebrated with 55 people who came to a new faith in Jesus Christ (2023: 31). In this time period 35 were baptised (2023: 46). Significant numbers of adults decided to become planted members, drawn from those already adherent to the church and those entirely new to our fellowship. We continue to be recognized as a family church, with provision and place for people of all ages. The numbers of young children and infants have increased significantly in the past year. The church also provided many hours of Pastoral Care not only to its adult members, but also to the elderly and those in need of support within the wider community. 

The church continues to progress and refine its vision for the 97-acre site in the south of Ballymena on the Gateway Project. The church kids’ play area has now been completed; the ‘playground’ is open to the public during the week and Saturdays, drawing several hundred visitors per month. The new church kitchen will be completed early in the next financial year. Due to the growth of the church, it is anticipated that all building costs shall be settled early in the next financial year. Plans are now ongoing for the opening of a large-scale charity retail shop within the building complex. All ministries are now well established and growing both in attendees, people served by each ministry and with active volunteers. 

The “Gateway” Project exists for the benefit of the local area, particularly Ballymena, and seeks to be a blessing to our city by providing social value and helping to stimulate lasting spiritual, social and economic regeneration. 

## **Financial review and funds policy** 

The income of Green Pastures, The People’s Church is testament to the lovely giving heart of its people and to God’s promise that if we act in faith with careful planning, He will release His provision. 

Freewill offerings and associated gift aid continue to be the principal funding sources of the Group, along with trading income of the Group subsidiaries.  This income is used to support the various ministries of the Group and to meet the day-to-day operational costs.  The breakdown of this is provided in the Statement of Financial Activities on page 11. 

During the year the Group had total income of £622,834 and total expenditure of £673,305 resulting in a net deficit of £50,471. The net deficit for the period as shown in the statement of financial activities on page 11 has been transferred from the company’s funds and has resulted in a decrease in total Church funds from £22,756,089 to £22,75,618. Details of the financial position of the Church at the period-end can be seen on page 12. 

At the end of the year the Group had £112,621 cash at bank, and it is the aim of the Trustees, if possible, to maintain an unrestricted cash reserve equivalent to that of two months expenditure 

The company plans to continue its activities in the forthcoming years. 

2 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **REPORT OF THE DIRECTORS** _**(continued)**_ 

## **Trading activities** 

The trading activities of the Group’s subsidiaries provide finance to further the aims and objectives of the Church and its associated charities, Connect Ministries and Compassion Ministries. 

The continuing trading operations of the Group were profitable during the period and are expected do so for the incoming year. 

## **Objectives and Activities (and how they deliver public benefit)** 

## **Purpose 1** 

|**Purpose 1**||
|---|---|
|Purpose:|To advance the Christian religion for the benefit of the public in the area of benefit in accordance|
||with the statements of belief.|
|Beneficiaries:|Open to all of the public in Northern Ireland.|
|How they|The adoption of a moral framework which encourages people to be good citizens.|
|benefit:||
|How the|Improved behaviour as a result of being involved in a public act of worship.|
|benefits can be||
|demonstrated:||
|**Purpose 2**||
|Purpose:|To promote the benefit of the inhabitants of Galgorm particularly, and Northern Ireland generally|
||(hereinafter called “the area of benefit”) without distinction of sex, sexual orientation, race or of|
||political, religious or other opinion by establishing a place of worship for the Christian religion.|
|Beneficiaries:|Open to all of the public in Northern Ireland.|
|How they|The adoption of a moral framework which encourages people to be good citizens. The provision of|
|benefit:|facilities for public use.|
|How the|Improved behaviour as a result of being involved in a public act of worship.|
|benefits can be||
|demonstrated:||
|**Purpose 3**||
|Purpose:|The advancement of the Christian religion mainly, but not exclusively, by means of broadcasting|
||Christian messages of an evangelistic and teaching nature.|
|Beneficiaries:|Open to all of the public in Northern Ireland.|
|How they|Access to educational opportunities, to public worship and to religious publications including|
|benefit:|sacred texts and literature.|
|How the|Improved behaviour as a result of increased awareness of a moral framework.|
|benefits can be||
|demonstrated:||



3 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **REPORT OF THE DIRECTORS** _**(continued)**_ 

**Objectives and Activities (and how they deliver public benefit)** _**(continued)**_ 

## **Purpose 4** 

|**pose 4**||
|---|---|
|Purpose:|Providing services of worship; religious teaching; facilities or services to allow believers to practice|
||their faith or follow its doctrines; producing or making available literature explaining the doctrines|
||involved and how to find out more about them. Distribution of sacred texts in the area of benefit.|
|Beneficiaries:|Open to all of the public in Northern Ireland.|
|How they|Access to public worship, to educational opportunities and to religious publications including|
|benefit:|sacred texts and literature.|
|How the|Improved behaviour as a result of increased awareness of a moral framework and involvement in|
|benefits can be|public worship.|
|demonstrated:||
|**pose 5**||
|Purpose:|Associating together the said inhabitants and the local authorities voluntary and other organisations|
||in the area of benefit in a common effort to relieve poverty and advance education and to provide|
||facilities in the interests of welfare for the recreation and leisure-time occupation with the object of|
||improving the conditions of life for the said inhabitants.|
|Beneficiaries:|Section of the public in the locality where the activity is provided.|
|How they|Financial aid, money management training, provision of leisure and recreational facilities and|
|benefit:|programmes.|
|How the|Improvement in social, emotional and physical wellbeing of participants.|
|benefits can be||
|demonstrated:||



## **Purpose 5** 

4 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **REPORT OF THE DIRECTORS** _**(continued)**_ 

## **Objectives and Activities (and how they deliver public benefit)** _**(continued)**_ 

## **Main Activities** 

The main activities of the Charity include the provision of services of worship; the advancement of the Christian religion; providing opportunities for volunteers; providing volunteers for the community benefit; supporting and working alongside other like-minded charitable and volunteer organisations. 

The Church, in the furtherance of its aims and objectives, co-operates closely with two other charities; Connect Ministries Limited and Compassion Ministries. This co-operation involves shared strategic direction, financial support and volunteer resource support. The outcomes of this support are monitored to ensure that the Church’s charitable objectives are being furthered by these partnerships. 

Green Pastures, The People’s Church is the 100% parent company of The Gateway Social Investments Limited. 

The trading activities of the Group’s subsidiaries provide finance to further the aims and objectives of the Church and its associated charities, Connect Ministries and Compassion Ministries. 

Profits are primarily applied for the charitable purposes of associated charitable companies. At the date of this report, current trading activities are limited to Pure Gym which is the trading arm of The Gateway Social Investment Limited. 

## **Volunteers** 

The Trustees wish to acknowledge their deep appreciation of those who give freely of their time by serving on committees and helping with organisations and other church activities. 

## **Plans for future periods** 

The Trustees do not envisage any change in activities in future periods. The Church is committed to its ongoing Mission as detailed above. 

## **Reference and administrative details** 

Registered charity name: Green Pastures, The People’s Church Charity Commission registration number: NIC101855 HMRC charity reference: XR94150 Company registration number: NI062702 Principle office and registered office: 1, Faith Avenue The Gateway Ballymena County Antrim BT42 3FF. Bankers: Bank of Ireland Broadway Avenue, Ballymena. BT43 7AA. Solicitors: King and Gowdy 298, Upper Newtownards Road, Belfast. BT4 3EJ. Auditor: Stevenson and Wilson 22-30, Broadway Avenue, Ballymena. BT43 7AA. 

5 



**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **REPORT OF THE DIRECTORS** _**(continued)**_ 

## **Directors and Trustees of the Company** 

The directors who held office during the year, and in the period since 31[st] August 2024 to the date of these accounts were approved, were as follows: 

Mr Robert Kingston 

Mr Mark Rankin 

Mr William Fleck (appointed 1[st] October 2024) 

Mr Darren Pearson (appointed 1[st] October 2024) 

Mrs Estelle Wallace (appointed 1[st] October 2024) 

Ms Mary Regan (resigned 30[th] September 2024) 

Mrs Suzanne Blair (resigned 30[th] November 2023) 

## **Structure, governance and management** 

The Company is a charity limited by guarantee without share capital.  The Board of Directors are also known as Trustees for the purposes of the Charity Commission. 

The Company is governed by its Memorandum and Articles of Association dated 17th January 2007. In the event of the Company being wound up members are required to contribute an amount not exceeding £1. The Trustees are responsible for setting the overall strategic direction of the Charity and the remuneration rates of all employees, while the day to day running of the operations of Church is delegated by the Trustees to the Executive team. The Trustees have had regard to the Charity Commission’s public benefit requirement and on appointment to the Board are made aware of all of their responsibilities in terms of both Charity Law and Company Law. 

Directors are appointed in line with the Memorandum and Articles of Association of the company. 

The Board of Directors are also known as Trustees for the purposes of the Charity Commission.  The Company has an induction programme for new Trustees who are advised of their legal obligations as Trustees, briefed on the governance and structure of the Company and provided with an overview of the Company’s performance in meeting its charitable purposes. 

All Trustees commit to a Code of Conduct and are required to disclose all relevant interests, register them with the Board of Trustees and in accordance with the Company’s policy withdraw from discussion / decisions where a perceived or actual conflict of interest arises. 

The Trustees are considered to be the key management personnel of the Company.  During the reporting period none of the Trustees received any remuneration. 

## **Risk management** 

The principle financial risks to the charity lie within the development of the new church facility and the trading operations of its subsidiaries. The trustees have identified these risks, and are satisfied that they are mitigated by adhering to reasonable and standard financial practices; for example, engaging in a fixed price contract for building works; employing a quantity surveyor to ensure value for money; having collateral warranties in place for all contractors; ensuring subsidiary companies are trading within their means. 

6 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **REPORT OF THE DIRECTORS** _**(continued)**_ 

## **Statement of directors’ responsibilities** 

The directors (who are the trustees of Green Pastures, The People’s Church) are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulations. 

Company law requires the directors to prepare financial statements for each financial period. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and Charitable company and of the incoming resources and application of resources, including income and expenditure for that period. In preparing these financial statements, the directors are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP-FRS102; 

- make judgements and accounting 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 statement; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the Group and Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In the case of each director in office at the date the Directors’ Report is approved: 

- so far as the director is aware, there is no relevant audit information of which the charity’s auditors are unaware; and 

- they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information. 

## **Funds held as custodian trustee on behalf of others** 

The charity does not hold any funds on behalf of others. 

## **Auditors** 

A resolution to appoint auditors will be proposed at the Annual General Meeting. 

Approved by the Board on 6[th ] May 2025 and signed on its behalf by: 

_Mark Rankin_ 

----------------------------------Mark Rankin 

7 



## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES** 

## **Opinion** 

We have audited the financial statements of Green Pastures, The People’s Church (The Parent Charitable Company) and its subsidiaries (The Group) for the year ended 31[st] August 2024, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) – (Charities SORP (FRS102)). 

In our opinion the financial statements: 

- give a true and fair view of the state of the Group’s and Parent Charitable Company's affairs as at 31[st] August 2024 and of its incoming resources and their application for the period then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group and Parent Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

8 



## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES** _**(continued)**_ 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees/Directors’ report for the financial period for which the financial statements are prepared is consistent with the financial statements; and 

- the Trustees/Directors’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or 

- the Parent Company financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Directors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the director’s report and from the requirement to prepare a strategic report. 

## **Responsibilities of directors/trustees** 

As explained more fully in the directors’ responsibilities statement (set out on pages 2 to 7), the directors (who are also the trustees of the charitable company) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the directors are responsible for assessing the Group’s and the Parent Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or Parent Company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. 

9 



## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES** _**(continued)**_ 

## **Auditor’s responsibilities for the audit of the financial statements** _**(continued)**_ 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. 

- Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s or the Parent Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group or Parent Company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **Use of our report** 

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 

## _Peter Stevenson_ 

--------------------------------- 

Peter Stevenson (Senior Statutory Auditor) For and on behalf of: Stevenson and Wilson Chartered Accountants, Statutory Auditor 22 – 30 Broadway Avenue Ballymena BT43 7AA 

6[th] May 2025 

10 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[ST] AUGUST 2024** 

|**Note**<br>**Incoming resources**<br>Donations received<br>Charitable activities<br>Turnover<br>Interest received<br>**Total income**<br>4<br>**Resources expended**<br>Charitable activities<br>Support costs<br>Governance costs<br>Trade operating expenses<br>**Total expenditure**<br>5<br>**Net income before transfers**<br>Transfers between funds<br>7<br>**Net income/(expenditure)**<br>**before taxation**<br>**Taxation**<br>8<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>**Total funds brought forward**<br>**Total funds carried forward**|**Unrestricted**<br>**Funds**<br>**Charitable**<br>**2024**<br>**£**<br>**391,084**<br>**13,289**<br>**-**<br>**-**<br>**404,373**<br>**35,306**<br>**406,176**<br>**17,500**<br>**-**<br>**458,982**<br>**(54,609)**<br>**(71,604)**<br>**(126,213)**<br>**-**<br>**(126,213)**<br>**22,585,153**<br>**22,458,940**|**Restricted**<br>**Funds**<br>**Charitable**<br>**2024**<br>**£**<br>**112,451**<br>**6,531**<br>**-**<br>**1**<br>**118,983**<br>**54,275**<br>**66,395**<br>**-**<br>**-**<br>**120,670**<br>**(1,687)**<br>**40,945**<br>**39,258**<br>**-**<br>**39,258**<br>**199,933**<br>**239,191**|**Unrestricted**<br>**Funds**<br>**Trading**<br>**2024**<br>**£**<br>**150**<br>**-**<br>**99,324**<br>**4**<br>**99,478**<br>**-**<br>**-**<br>**-**<br>**93,653**<br>**93,653**<br>**5,825**<br>**30,659**<br>**36,484**<br>**-**<br>**36,484**<br>**(28,997)**<br>**7,487**|**Total**<br>**2024**<br>**£**<br>**503,685**<br>**19,820**<br>**99,324**<br>**5**<br>**622,834**<br>**89,581**<br>**472,571**<br>**17,500**<br>**93,653**<br>**673,305**<br>**(50,471)**<br>**-**<br>**(50,471)**<br>**-**<br>**(50,471)**<br>**22,756,089**<br>**22,705,618**|Total<br>2023<br>£<br>552,972<br>14,273<br>105,186<br>247|
|---|---|---|---|---|---|
||||||672,678|
||||||96,611<br>349,365<br>12,500<br>102,777|
||||||561,253|
||||||111,425<br>-|
||||||111,425<br>-|
||||||111,425<br>22,644,664|
||||||22,756,089|



The notes on pages 16 to 24 form part of these financial statements. 

11 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **CONSOLIDATED STATEMENT OF FINANCIAL POSITION / BALANCE SHEET AS AT 31[st] AUGUST 2024** 

|**Note**<br>**Fixed assets**<br>Tangible fixed assets<br>9<br>**Current assets**<br>Other debtors and prepayments<br>12<br>Cash at bank – operating accounts<br>Cash at bank – Project Nehemiah account<br>Cash at bank – Other ministry accounts<br>**Creditors: amounts due within one year**<br>13<br>**Net current assets/(liabilities)**<br>**Total assets less current liabilities**<br>**Creditors: amounts due after one year**<br>14<br>**Total net assets**<br>16<br>**Represented by:**<br>Unrestricted funds<br>Restricted funds<br>Profit and loss reserves<br>**Funds balance at 31st August 2024**<br>17|**Charitable**<br>**2024**<br>**£**<br>**23,056,041**<br>**51,699**<br>**6,908**<br>**58,004**<br>**26,629**<br>**143,240**<br>**(131,750)**<br>**11,490**<br>**23,067,531**<br>**(369,400)**<br>**22,698,131**<br>**22,458,940**<br>**239,191**<br>**-**<br>**22,698,131**|**Trading**<br>**2024**<br>**£**<br>**27,714**<br>**5,351**<br>**21,080**<br>**-**<br>**-**<br>**26,431**<br>**(24,293)**<br>**2,138**<br>**29,852**<br>**(22,365)**<br>**7,487**<br>**-**<br>**-**<br>**7,487**<br>**7,487**|**Total**<br>**2024**<br>**£**<br>**23,083,755**<br>**57,050**<br>**27,988**<br>**58,004**<br>**26,629**<br>**169,671**<br>**(156,043)**<br>**13,628**<br>**23,097,383**<br>**(391,765)**<br>**22,705,618**<br>**22,458,940**<br>**239,191**<br>**7,487**<br>**22,705,618**|Total<br>2023<br>£<br>23,027,223|
|---|---|---|---|---|
|||||54,968<br>49,116<br>1,760<br>129,835|
|||||235,679<br>(110,657)|
|||||125,022|
|||||23,152,245<br>(396,156)|
|||||22,756,089|
|||||22,585,153<br>199,933<br>(28,997)|
|||||22,756,089|



The financial statements have been prepared in accordance with The Companies Act 2006 and with Charities SORP-FRS102. 

The financial statements on pages 11 to 24 were approved by the Board of Trustees on 6[th] May 2025 and signed on its behalf by: 

## _Robert Kingston_ 

_Robert Kingston Mark Rankin_ -------------------------------------------------------------------------Robert Kingston Mark Rankin Trustee Trustee 

The notes on pages 16 to 24 form part of these financial statements. 

12 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **COMPANY STATEMENT OF FINANCIAL POSITION/BALANCE SHEET AS AT 31[ST] AUGUST 2024** 

(Company Registration Number NI 062702) 

|**Note**<br>**Fixed assets**<br>Tangible fixed assets<br>10<br>Investments in shares in subsidiaries<br>11<br>**Current assets**<br>Other debtors and prepayments<br>12<br>Cash at bank – Church account<br>Cash at bank – Project Nehemiah account<br>Cash at bank – other ministry accounts<br>**Creditors: amounts due within one year**<br>13<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Creditors: amounts due after one year**<br>14<br>**Total net assets**<br>**Unrestricted funds**<br>General funds<br>**Total unrestricted funds**<br>**Restricted funds**<br>**Total charity funds**|**2024**<br>**£**<br>**23,056,041**<br>**1**<br>**23,056,042**<br>**82,358**<br>**6,906**<br>**58,004**<br>**26,629**<br>**173,897**<br>**(131,749)**<br>**42,148**<br>**23,098,190**<br>**(369,400)**<br>**22,728,790**<br>**22,489,599**<br>**22,489,599**<br>**239,191**<br>**22,728,790**|2023<br>£<br>23,018,471<br>1|
|---|---|---|
|||23,018,472<br>54,914<br>40,897<br>1,760<br>129,835|
|||227,406<br>(91,392)|
|||136,014|
|||23,154,486<br>(369,400)|
|||22,785,086|
|||22,585,153|
|||22,585,153<br>199,933|
|||22,785,086|



The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime under The Companies Act 2006 and with Charities SORP-FRS102. 

The financial statements on pages 11 to 24 were approved by the Board of Trustees on 6[th] May 2025 and signed on its behalf by: 

|_Robert Kingston_|_Mark Rankin_|
|---|---|
|-------------------------------------|--------------------------------------|
|Robert Kingston|Mark Rankin|
|Trustee|Trustee|



The notes on pages 16 to 24 form part of these financial statements. 

13 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **CONSOLDIATED STATEMENT OF CHANGES IN FUNDS AND RESERVES FOR THE YEAR ENDED 31[ST] AUGUST 2024** 

|**At 1st September 2022**<br>Net surplus/(deficit) for the year<br>**At 31st August 2023**<br>Net surplus/(deficit) for the period<br>**At 31stAugust 2024**|**Unrestricted**<br>**Funds**<br>**£**<br>(162,834)<br>22,747,987<br>**22,585,153**<br>(126,213)<br>**22,458,940**|**Restricted**<br>**funds**<br>**£**<br>22,867,404<br>(22,667,471)<br>**199,933**<br>39,258<br>**239,191**|**Profit and**<br>**loss reserves**<br>**£**<br>(59,906)<br>30,909<br>**(28,997)**<br>36,484<br>**7,487**|**Total**<br>**£**<br>22,644,664<br>111,426|
|---|---|---|---|---|
|||||**22,756,089**<br>(50,472)|
|||||**22,705,618**|



The notes on pages 16 to 24 form part of these financial statements. 

14 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31[ST] AUGUST 2024** 

|**Operating activities**<br>Net (outgoing)/incoming resources before interest<br>Depreciation / loss on disposal<br>Decrease in stock<br>(Increase)/decrease in debtors<br>Increase/(decrease) in creditors<br>**Net cash inflow/(outflow) from operating activities**<br>**Financing activities**<br>Repayments of borrowing<br>Interest received<br>**Net cash outflow from financing activities**<br>**Investing activities**<br>Purchase of tangible fixed assets<br>Disposal of tangible fixed assets<br>**Net cash outflow from investing activities**<br>**Net decrease in cash for the period**<br>Cash and cash equivalents at the beginning of the period<br>**Cash and cash equivalent at the end of the period**<br>**Cash and cash equivalents**<br>Cash at bank|**2024**<br>**£**<br>**(50,476)**<br>**49,630**<br>**-**<br>**(2,082)**<br>**44,912**<br>**41,984**<br>**(3,917)**<br>**5**<br>**(3,912)**<br>**(106,162)**<br>**-**<br>**(106,162)**<br>**(68,090)**<br>**180,711**<br>**112,621**<br>**112,621**<br>**112,621**|2023<br>£<br>111,178<br>35,447<br>500<br>216,484<br>(384,221)|
|---|---|---|
|||(20,612)|
|||(7,005)<br>247|
|||(6,758)|
|||(44,868)<br>2,100|
|||(42,768)|
||||
|||(70,138)<br>250,849|
|||180,711|
|||180,711|
|||180,711|



The notes on pages 16 to 24 form part of these financial statements. 

15 



**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] AUGUST 2024** 


## **Company information** 

The Company is limited by guarantee and is incorporated in Northern Ireland. The address of the registered office is 1 Faith Avenue, The Gateway, Ballymena, Co Antrim BT42 3FF. The financial statements were authorised for issue by the Board on 6[th] May 2025. 


## **Accounting policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **Basis of preparation** 

The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The accounts are prepared in sterling, which is the functional currency of the charity. 

The Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy notes. 

## **Basis of consolidation** 

The consolidated financial statements comprise the financial statements of Green Pastures, The People’s Church and all its subsidiaries for the year ended 31[st] August 2024. All subsidiary companies are wholly owned and controlled by the Group. 

## **Preparation of accounts on a going concern basis** 

The Company generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Company has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis. 

## **Incoming resources** 

Donations received comprises all cash receivable for the accounting period, including any related tax recoverable under Gift Aid. Income is recognised when the Charity has established an entitlement to the income. For donations this is typically upon receipt. Gift aid income is accrued in respect of charitable donations already receipted. Charitable activity income includes sale of goods and conference ticket sale income. 

## Donated goods 

Estimating the fair value of donated goods for resale is impractical because of the volume of low-value items received. In addition, the increase in administrative time and cost of maintaining detailed stock control systems would greatly outweigh any potential benefit.  As a consequence, donated goods for resale are not recognised on receipt but instead the income is recognised at the point of onward sale 

## **Resources expended** 

Resources expended are recognised in the period in which they are incurred. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to 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. 

16 



**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **2.  Accounting policies** _**(continued)**_ 

## **Short-term debtors and creditors** 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses. 

## **Tangible assets** 

The tangible assets of the charity comprise of plant and equipment and motor vehicles. 

Equipment is depreciated at a rate calculated to reduce it to residual value at the end of its expected normal life on a straight- line basis at rates of 20% per annum. Motor vehicles are depreciated at a rate calculated to reduce them to residual value at the end of their expected normal life on a straight- line basis at a rate of 20% per annum. 

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. 

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and included in “charitable activity expenditure”. 

## **Stock** 

Stock is held at the lower of cost and net realisable value. 

## **Cash and cash equivalents** 

Cash and cash equivalents includes cash in hand and cash at banks. 

## **Financial instruments** 

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. 

## **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 profit and loss account 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 Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date, or if the likelihood of earlier settlement is remote. 

## **Funds** 

Funds are classified as either unrestricted funds or restricted funds, defined as follows. 

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund. 

Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the Charity. 

The initial acquisition of tangible fixed assets funded through an appeal or by way of donations are treated as restricted funds.  Once acquired, the terms of the gift permit the Trustees to use the asset on an unrestricted basis for any charitable purpose. 

17 



**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **2. Accounting policies** _**(continued)**_ 

## **Pensions** 

The Charity operates a defined contribution scheme for all staff. Employer contributions are charged through the income and expenditure account when incurred. 


## **Critical accounting judgements and estimation uncertainty** 

Estimates and judgments made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made in applying the Company’s accounting policies or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 


## **Analysis of income** 

|**Analysis of income**||||||
|---|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Unrestricted**|||
||**Funds**|**Funds**|**Funds**|||
||**Charitable**|**Charitable**|**Trading**|**Total**|Total|
||**2024**|**2024**|**2024**|**2024**|2023|
||**£**|**£**|**£**|**£**|£|
|**Donations received**||||||
|From individuals and||||||
|corporate bodies|**349,494**|**101,992**|**150**|**451,636**|493,124|
|Tax recovered on donations|**41,590**|**10,459**|**-**|**52,049**|59,848|
||**391,084**|**112,451**|**150**|**503,685**|552,972|
|**Charitable activities**||||||
|Ancillary trading activities|**13,289**|**6,531**|**-**|**19,820**|13,813|
|Grant income|**-**|**-**|**-**|**-**|460|
||**13,289**|**6,531**|**-**|**19,820**|14,273|
|**Turnover**|**-**|**-**|**99,324**|**99,324**|105,186|
|**Interest received**|**-**|**1**|**4**|**5**|247|
|||||||
|**Total income**|**404,373**|**118,983**|**99,478**|**622,834**|672,678|



18 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 


## **Analysis of expenditure** 

|**Charitable activities**<br>Donations to associated charities<br>Other charitable donations<br>Activity costs<br>**Support costs**<br>Wages and salaries<br>Property costs<br>Administration costs<br>Depreciation<br>Other expenses<br>Recharge of overheads<br>**Governance costs**<br>Auditors remuneration:<br>- audit services<br>- accountancy services<br>**Trading operating expenses**<br>Cost of sales – materials<br>Wages and salaries<br>Other charitable donations<br>Management fees<br>Property costs<br>Administration costs<br>Depreciation (incl. profit on disposal)<br>**Total expenditure**|**Unrestricted**<br>**Funds**<br>**Charitable**<br>**2024**<br>**£**<br>**9,842**<br>**2,251**<br>**23,213**<br>**35,306**<br>**157,126**<br>**162,329**<br>**68,116**<br>**24,514**<br>**732**<br>**(6,641)**<br>**406,176**<br>**4,500**<br>**13,000**<br>**17,500**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br> <br>**-**<br>**-**<br>**458,982**|**Restricted**<br>**Funds**<br>**Charitable**<br>**2024**<br>**£**<br>**7,580**<br>**14,643**<br>**32,052**<br>**54,275**<br>**-**<br>**29,201**<br>**10,164**<br>**20,273**<br>**6,757**<br>**-**<br>**66,395**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**120,670**|**Unrestricted**<br>**Funds**<br>**Trading**<br>**2024**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**8,318**<br>**55,106**<br>**343**<br>**2,201**<br>**11,239**<br>**11,604**<br>**4,842**<br>**93,653**<br>**93,653**|**Total**<br>**2024**<br>**£**<br>**17,422**<br>**16,894**<br>**55,265**<br>**89,581**<br>**157,126**<br>**191,530**<br>**78,280**<br>**44,787**<br>**7,489**<br>**(6,641)**<br>**472,571**<br>**4,500**<br>**13,000**<br>**17,500**<br>**8,318**<br>**55,106**<br>**343**<br>**2,201**<br>**11,239**<br>**11,605**<br>**4,842**<br>**93,654**<br>**673,306**|Total<br>2023<br>£<br>40,075<br>8,713<br>47,823|
|---|---|---|---|---|---|
||||||96,611|
||||||132,128<br>155,843<br>25,113<br>34,845<br>8,430<br>(6,994)|
||||||349,365|
||||||4,000<br>8,500|
||||||12,500|
||||||817<br>61,381<br>2,100<br>1,342<br>25,898<br>10,637<br>602|
||||||102,777|
|||||||
||||||561,253|



19 



**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 


**Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel** 

|Salaries and wages<br>National insurance costs<br>Employer pension contributions|**2024**<br>**£**<br>**192,765**<br>**16,979**<br>**2,488**<br>**212,232**|2023<br>£<br>178,548<br>12,191<br>2,770|
|---|---|---|
|||193,509|



The average monthly number of full-time employees during the year was 10 (2023: 11). No employees received remuneration in excess of £60,000.  No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the period.  None of the trustees have been paid any remuneration or received any other benefits from an employment with the Company or a related entity.  No trustees were reimbursed for any expenses incurred on behalf of the Company. 


## **Transfers between funds** 

Unrestricted funds are spent or applied at the discretion of the trustees to further any of the charity’s purposes. Unrestricted funds may be used to supplement expenditure made from restricted funds. 


## **Taxation** 

Green Pastures, The People’s Church, is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 


## **Tangible fixed assets - the Group** 

|**Cost**<br>At 1stSeptember 2023<br>Additions<br>Disposals<br>**At 31st August 2024**<br>**Depreciation**<br>At 1stSeptember 2023<br>Depreciation<br>Eliminated on disposals<br>**At 31st August 2024**<br>**Net book value**<br>**At 31st August 2024**<br>At 31stAugust 2023|**Freehold**<br>**land and**<br>**buildings**<br> <br>**£**<br>22,941,663<br>25,150<br>-<br>**22,966,813**<br>-<br>-<br>-<br>**-**<br>**22,966,813**<br>22,941,663|**Equipment**<br>**£**<br>880,545<br>81,012<br>(634,085)<br>**327,472**<br>794,985<br>48,957<br>(633,412)<br>**210,530**<br>**116,942**<br>85,560|**Motor**<br>**Vehicles**<br>**£**<br>5,835<br>-<br>-<br>**5,835**<br>5,835<br>-<br>-<br>**5,835**<br>**-**<br>-|**Total**<br>**£**<br>23,828,043<br>106,162<br>(634,085)|
|---|---|---|---|---|
|||||**23,300,120**|
|||||800,820<br>48,957<br>(633,412)|
|||||**216,365**|
|||||**23,083,755**|
|||||23,027,223|



20 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

|**Tangible fixed assets – Company**<br>**Cost**<br>At 1stSeptember 2023<br>Additions<br>Disposals<br>**At 31st August 2024**<br>**Depreciation**<br>At 1stSeptember 2023<br>Depreciation<br>Eliminated on disposal<br>**At 31st August 2024**<br>**Net book value**<br>**At 31st August 2024**<br>At 31stAugust 2023<br> **Investments**<br>Shares in subsidiary companies|**Freehold**<br>**land and**<br>**buildings**<br>**£**<br>22,941,663<br>25,150<br>-<br>**22,966,813**<br>-<br>-<br>-<br>**-**<br>**22,966,813**<br>22,941,663<br>**2024**<br>**Group**<br>**£**<br>**-**<br>**-**|**Equipment**<br>**£**<br>816,758<br>57,208<br>(628,919)<br>**245,047**<br>739,950<br>44,788<br>(628,919)<br>**155,819**<br>**89,228**<br>76,808<br>2023<br>Group<br>£<br>**-**<br>**-**|**Motor**<br>**Vehicles**<br>**£**<br>5,835<br>-<br>-<br>**5,835**<br>5,835<br>-<br>-<br>**5,835**<br>**-**<br>-<br>**2024**<br>**Company**<br>**£**<br>**1**<br>**1**||**Total**<br>**£**<br>23,764,256<br>82,358<br>(628,919)|
|---|---|---|---|---|---|
||||||**23,217,695**|
||||||745,785<br>44,788<br>(628,919)|
||||||**161,654**|
||||||**23,056,041**|
||||||23,018,471|
||||||2023<br>Company<br>£<br>1<br>1|
|||||||



The Company is the ultimate 100% parent of the following subsidiaries all of which are incorporated in Northern Ireland and have period ends coterminous with that of the parent company.  Its registered office address is Green Pastures Faith Avenue, The Gateway, Ballymena, Northern Ireland, BT42 3FF. 

|**Company**|**Company**|**Business**||||**Profit/**|
|---|---|---|---|---|---|---|
|**name**|**number**|**activity**|**Net funds**|**Turnover**|**Expenditure**|**(loss)**|
||||**£**|**£**|**£**|**£**|
|The Gateway Social<br>Investment Limited|NI618278 Social economy business||(23,171)|99,474|(93,649)|5,825|



21 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

|**Other debtors and prepayments**|||||
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||**Group**|Group|**Company**|Company|
||**£**|£|**£**|£|
|Gift aid debtor|**15,824**|19,093|**15,824**|19,093|
|Other debtors and prepayments|**41,226**|35,875|**66,534**|35,821|
||**57,050**|54,968|**82,358**|54,914|
|**Creditors: due within one year**|||||
||**2024**|2023|**2024**|2023|
||**Group**|Group|**Company**|Company|
||**£**|£|**£**|£|
|Bank loan|**4,808**|4,334|**-**|-|
|Trade creditors|**4,839**|9,682|**-**|-|
|Other creditors|**488**|4,000|**488**|-|
|Payroll taxes|**4,535**|4,217|**4,081**|2,967|
|Building construction costs due|**39,000**|42,431|**39,000**|42,431|
|Accruals|**102,373**|45,993|**88,179**|45,993|
|Amounts due to subsidiary company|**-**|-|**1**|1|
||**156,043**|110,657|**131,749**|91,392|
|**Creditors: due after more than one year**|||||
||**2024**|2023|**2024**|2023|
||**Group**|Group|**Company**|Company|
||**£**|£|**£**|£|
|Other creditors|**200,000**|200,000|**200,000**|200,000|
|Building construction costs due|**169,400**|169,400|**169,400**|169,400|
|Bank loan|**22,365**|26,756|**-**|-|
||**391,765**|396,156|**369,400**|369,400|



Included in other creditors is an amount of £200,000 secured by a fixed charge over part of the land at Pennybridge Industrial Estate, Ballymena, County Antrim. 

The bank loan is secured by the UK Government under the Bounce Back Loan Scheme.  The loan is repayable by instalment, all of which is due for payment within 5 years of the balance sheet date. 

22 



## **GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

|**Reconciliation of net funds/debt**<br>Cash at bank<br>Bank loan<br>**Net funds**<br> **Analysis of net assets**<br>Fixed assets<br>Net current assets/(liabilities)<br>Creditors due after one year<br>Inter-fund balances<br>**Net assets at 31st August 2024**<br> **Funds of the Group**<br>At 1 September 2023<br>Income<br>Expenditure<br>Transfers between funds<br>**At 31st August 2024**|**At 1-Sep-23**<br>**£**<br>180,711<br>(31,090)<br>**149,621**<br>**Unrestricted**<br>**Restricted**<br>**£**<br>**£**<br>23,002,636<br>53,405<br>(302,751)<br>314,241<br>(200,000)<br>(169,400)<br>(40,945)<br>40,945<br>**22,458,940**<br>**239,191**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**£**<br>**£**<br>22,585,153<br>199,933<br>404,373<br>118,983<br>(458,982)<br>(120,670)<br>(71,604)<br>40,945<br>**22,458,940**<br>**239,191**|**At 1-Sep-23**<br>**£**<br>180,711<br>(31,090)<br>**149,621**<br>**Unrestricted**<br>**Restricted**<br>**£**<br>**£**<br>23,002,636<br>53,405<br>(302,751)<br>314,241<br>(200,000)<br>(169,400)<br>(40,945)<br>40,945<br>**22,458,940**<br>**239,191**<br>**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**£**<br>**£**<br>22,585,153<br>199,933<br>404,373<br>118,983<br>(458,982)<br>(120,670)<br>(71,604)<br>40,945<br>**22,458,940**<br>**239,191**||**Cash flow**<br> <br>**£**<br>(68,090)<br>3,917<br>**(64,173)**<br>**Trading**<br>**£**<br>27,714<br>2,138<br>(22,365)|**At 31-Aug-24**<br>**£**<br>112,621<br>(27,173)<br>**85,448**<br>**Total**<br>**£**<br>23,083,755<br>13,628<br> <br>(391,765)<br>-<br>**22,705,618**<br> **Total funds**<br>**& reserves**<br>**£**<br>22,756,089<br>622,834<br>(673,305)<br>-<br>**22,705,618**|**At 31-Aug-24**<br>**£**<br>112,621<br>(27,173)<br>**85,448**<br>**Total**<br>**£**<br>23,083,755<br>13,628<br> <br>(391,765)<br>-<br>**22,705,618**<br> **Total funds**<br>**& reserves**<br>**£**<br>22,756,089<br>622,834<br>(673,305)<br>-<br>**22,705,618**|
|---|---|---|---|---|---|---|
||||||||
||||<br> <br>||<br>||
|||**239,191**||**7,487**||**22,705,618**|
|||**Restricted**<br>**Funds**<br>**£**<br>199,933<br>118,983<br>(120,670)<br>40,945||**Profit and**<br>**loss account**<br>**£**<br>(28,997) <br>99,478<br>(93,653) <br>30,659||**Total funds**<br>**& reserves**<br>**£**<br>22,756,089<br>622,834<br>(673,305)<br>-|
|||**239,191**||**7,487**||**22,705,618**|




## **Profit for the financial period** 

As permitted by Section 408 of The Companies Act 2006 the Parent Company’s Statement of Financial Activities has not been included in these financial statements. 

The Charity had a retained deficit of (£56,296) (2023: retained surplus £110,516). 

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**GREEN PASTURES, THE PEOPLE’S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 


## **Related party transactions** 

The Group has taken advantage of the exemption provisions in FRS 102 permitting non-disclosure of transactions with fellow group companies. The Company is the Ultimate Parent Company of the group. 

Transactions with non-group related parties, related through virtue of common control were as follows: 

||**2024**|2023|
|---|---|---|
||**£**|£|
|Donations to associated charity, Compassion Ministries|**19,055**|2,100|
|Donations to associated charity, Connect Ministries|**18,021**|40,075|
|Donations from associated charity, Connect Ministries|**1,002**|-|
|Amount owed from associated charity, Compassion Ministries|**35,105**|35,105|
|Amount owed to associated charity, Compassion Ministries|**488**|-|



## **Key management personnel:** 

The directors of the Company and its subsidiaries are considered to be the key management personnel. Directors’ remuneration is disclosed in note 6. 


## **Capital and financial commitments** 

At 31[st] August 2024 the Group had no capital or financial commitments which have not been provided in the accounts (31[st] August 2023: £Nil). 


## **Controlling party** 

During the period Green Pastures, The People’s Church was under the control of the Trustees (who are also the directors). 

24