Registered number: R0000611
Charity number: NIC102150
MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee)
COUNCIL'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
CONTENTS
Page
Reference and Administrative Details of the Company. its Council and Advisers
Council's Report
Independent Auditors. Report on the Financial Statements
Statement of Financial Activities
9-12
13
Balance Sheet
14
Statement of Cash Flows
15
Notes to the Financial Statements
16-32

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS COUNCIL AND ADVISERS
FOR THE YEAR ENDED 31 JANUARY 2023
Council
Caroline Sarah Bustsrd, Chair
Naomi Gowan
Rev William Henry
Eleanor Elizabeth Jane Ingram
Gloria Maud Joyce Kearney
Robert James Kennedy, Vice Chair
Trevor Samuel Mcllroy
Company registered
number
R0000611
Charity registered
number
NIC102150
Registered office
14 Glencregagh Court
Belfast
BT6 OPA
Company secretary
Naomi Barfoot
Independent auditors
UHY Hacker Young Fitch Limited
StatLrtory Auditors and Chartered Accountants
Gordon Street Mews
27-29 Gordon Street
Belfast
Antrim
BT12LG
Bankers
Ulster Bank Limited
PO Box 232
11-16 Donegall Square East
Belfast
BT1 SUB
Solicitors
Cleaver Fulton Rankin
50 Bedford Street
Belfast
BT2 7FW
Page 1

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2023
The Council members who are also directors of the charitable company present their annual report together with
the audited financial ststements of the Company for the 1 February 2022 to 31 January 2023. The Annual
Report serves the purposes of both a Council. report and a directors, report under company law. The Council
confirm that the Annual Report and financial ststements of the charitable company comply wth the current
statutory requirements, the requirements of the charitable company's goveming document and the provisions of
the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance
th the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1
January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report
required of medium and large companies under the Companies Act 2006 (strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Structure, govemance and management
a. Constitution
Mission Africa (The Qua Iboe Fellowship) is registered as a charitable company limited by guarantee and was
set up by a Memorandum of Association on 25th July 1930.
The Company is a registered charity wth the Northem Ireland Charities Commission under charity number
NIC102150 and is also a registered charty wth HMRC {XN45493).
The principal objectives of the Company continued to be that of being in partnership wth churches in Africa
assisting in the work of Theological Colleges, hospitals, literature distribution. The Mission continues to work in
Nigeria, Chad, Burkina Faso and Kenya.
b. Methods of appointment or election of Council
The management of the company is the responsibility of the Trustees (i.e. members of Council) who are elected
and co-opted under the terms of the Articles of Association. As required on an ad hoc basis the Trustees discuss
the appointment of potential new Trusteeslcouncil Members for appointment to the Board. Suitable people are
approached and if they are wlling to serve on the Board their nomination is put forward for approval. The
Trusteeslcouncil Members are appointed for three years and are available for re-election.
The followng setved as Trusteeslcouncil members during the year..
Mr. Trevor Mcllroy
Mrs. Gloria Kearney
Mrs. Eleanor Ingram
Miss Caroline Bustard. Chair
Miss Naomi Barfoot
Mr Robert Kennedy
Reverend William Henry
c. Organisational structure and decision-making policies
The Council is responsible for the review of all activities and approval of future strategy. Meetings of the Council
are held a minimum of three times per annum. The day to day running of the charity is carried out by the Chief
Executive, Paul Wright.
The Council seeks to work at all times wthin the Code of Good Govemance for Charities, as set down by the Nl
Department for Regional Development. The Chief Executive has undertaken a programme of change and
development wthin the Mission to ensure that all aspects of current legislation are observed. This programme is
ongoing and supporters and welkwshers of the Mission are requested to pray for this ongoing process.
Page 2

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Structure, govemance and management {continued)
d. Policies adopted for the induction and training of Council
Potential Trustees {i.e. members of Council) are identified by members of the Council and considered against
the Council's requirements concerning availability. eligibility, competence and specialist skills. Achieving a
balance of experience and backgrounds wth first-hand knO￿edge of Christian mission is the objective.
Members of the Council wll necessanly have an interest in the welfare and progress of the gospel in Africa.
Prior to appointment to Council, potential members are briefed by the Chief Executive and provided wth fvrther
information about the Mission and their role within IL They receive copies of the Articles, the latest Report and
Accounts and other Mission Africa materials. They are apprised of the materials pertaining to the duties of a
Trustee available online and in print. Attendance at relevant courses may be considered as necessary.
All trustees are required to sign the HMRC declaration that they are fit and proper persons to act as charity
trustees and also give a full declaration of their interests.
e. Membership
Membership of the Mission is govemed by sections 10-19 of the Articles of Association. Full membership of the
Mission is limited to those serving on the Council, and affiliate membership is open to all individuals and
institutions {such as churches or colleges) that subscribe to the objects of the mission. Benefits of membership I
affiliate membership include printed and online materials that relate to the work of the mission, numerous public
and private events such as conferences and prayer meetings and eligibility to participate directly in the charitable
objects of the mission.
Protection of its member's personal infomiation is a central commitment of the Mission, which is registered wth
the Information Commissioner's Office. Strenuous efforts have been made to ensure that Mission Africa
omplies with GDPR.
f. Related party relationships
None of the Trustees received remuneration or other benefits from their work vrith the charity.
g. Principal activities
The activities of the Mission are carried out in accordance wth its doctrinal basis, as set out below..
The Supreme Authority of the Scriptures of the Old and New Testaments and their complete sufficiency in
all matters of faith and practice.
The Eternal Oneness of the Father. the Son and the Holy Spirit in the Godhead.
Man's fallen state, spiritual death, alienation from God and absolute need for redemption and
regeneration.
The Love of God as manrfested in the gift of His Son. the Lord Jesus Christ, to redeem men from sin and
to deliver all believers from etemal punishment through the substitutionary and propitiatory death of Christ.
The work of the Holy Spirf( to impart and sustain spiritual lrfe.
Justification by faith alone.
The obligation upon all who profess our Lord's Name to afford evidence of their discipleship by a life of
obedience to His commands.
The essential unity of all who believe in the Lord Jesus Christ.
Page 3

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Plans for future periods
The Council anticipate that the Mission wll continue to carry out its normal operations in the foreseeable future.
No large capital projects are planned. Council agreed. during 2017. to supply more training grants to African
churches in order to help wth the dearth of qualified theological lecturers. This policy continued in 2022-23 and it
is expected that this policy will conts'nue into the future.
Objectives and activities
a. Policies and objectives
The objects of the Company are specrfically restricted to the advancement of Christianity and the support by
means of voluntary work and financial assistsnce to any charitable project for the protection and preservation of
health, the relief of poverty and the advancement of education in Africa and similar needy areas throughout the
world (hereinafter called the "area of benefit") and in particular to=
a} to train Christians so that they may seek to plant churches and work on projects promoted by the Company in
the area of benefit.,
bl to promote Christianity, provide Christian literature and educate people in the area of benefit through
evangelism and the provision of biblically based teaching. discipleship training, meetings, bible studies and social
activities.
c} to encourage new, and strengthen exists'ng. partnerships with churches and evangelical groups in the area of
benefit.
dl the relief of sickness among the beneficiaries by the provision of medical faciltties and counselling and by the
provision of financial assistance with the costs of medical treatment and the provision of items and services
required to ease their suffering.,
e} relieve poverty and hunger in the area of benefit by any charitable means and in particular the provision of
grants and training to enable poor people to establish and maintain projects vthich wll enable them to relieve
their own poverty.,
fj recruit, select and send out volunteers for both short and long temi service wthin the area of benefit.,
gl to advance any other exclusively charitable purpose as the directors may, from time to time, decide in
accordance wth the law of charity.
The charity believes that through carrying out the objects above it provides a public benefit to individuals and
der society.
b. Grant-making policies
Mission Africa does not perceive itself as a grant making body and does not make large grants. It does from time
to time make small grants (normally, but not exclusively, under £5.000, with the exception of £8,000 paid
annually to Advance) to the institutions of partner churches and will in some limited circumstances make training
grants to the personnel of partner churches. Partners in receipt of these grants are expected to fully account for
the expenditure of all monies received.
c. Volunteers
The Mission benefits greatly from the involvement and enthusiastic support of its many volunteers. The Mission
is very involved in the community and relies on the voluntary help.
Achievements and performance
Page 4

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and perfomiance {continued)
a. Review of activities
This past year; February 2022 - January 2023 has been a difficuli one but we give thanks that God has been
faithful and good. Despite the difficulties that we have been fa￿d with since November 2022. before then was
one of relative stability wth new missionaries joining the field to serve in both Kenya and Nigeria. We have seen
many signs of God's good hand upon our Y￿rk. The work of Mission Africa is far from complete - as God's
Kingdom in Africa grows, the needs of the African churches grow. It is our hope and prayer to continue serving
the churches in Africa through evangelism, training, medical and compassionate work.
EVANGELISM
Evangelism remains one of the key strategic aims of Mission Africa. In Nigeria, our evangelistic efforts are
intrinsic to all our work, but may be most obviousty found in our work amongst the Fulani. It is a source of deep
concern to us that a full time missionary has not been found to work amongst the Fulani in South Kaduna on a
full time basis- we would request that our supporters make this a subject of prayer. Nevertheless we keep in
close touch with the work in this region and small financial grants have been made to Fulani schools and
orphanages.
We give thanks to God that Reverends D. Onouche and J. Moses of the UEC have continued reaching out to the
Fulani, even after they had to relocate their work due to communal violence. In August 2022, with generous
donations, Mission Africa was able to purchase a bus to enable Revd Onouche to transport children to and from
local Bible Clubs.
Despite the ongoing serious security issues wthin Burkina Faso, our partnership wth the EPE (Evangelical
Protestant Church) has continued successfully. Ana van Brakel has spent time in the UK in order to pursue UK
itizenship, we give thanks that this has been granted and and is now considering her future for service in
partnership the EPE at the L'lnstitut Pastoral Hebron in Ivory Coast in 2024.
Jeremy Nash continues to make regular visits to Burkina Faso to evangelise and promote basic theological
education by extension amongst children. We give thanks for his safe travel and regular visits. Jeremy and
Rachel Nash are currenuy exploring opportunities to serve in N'djamena, Chad for a year and hope that they wll
be able to move mid 2023.
Samantha and Godfrey Ibia and their two children have been based in Abuja where they have continued their
valuable work with Fellowship of Christian Students {FCS.) They run various discipleship programmes in schools
and colleges. Their work involves a significant amount of travel and we thank God for safety on the roads.
STRENGTHENING THE CHURCHES OF AFRICA
Mission Africa tries at all times to Y￿rk in strategic ministries that allow us to make an impact that is
disproportionate to our small size. The most strategically important work in which we are engaged in is that of
theological education. In providing missionary lectures for various theological colleges in Africa, we are
facilitsting and enabling the training of a new generation of leader5 for some of the fastest growng churches in
the wodd.
Our primary relationship is wth the theological colleges of the United Evangelical Church (founded as the QIC.)
Reverend Godwin Ekanem continued to provide service to Mission Africa as Liaison Officer between the mission
and our primary partner, the United Evangelical Church, whilst Gail Ekanem had been teaching part-time al
William Wheatley Theological College IWWTC). The Ekanems returned home on furlough in August 2022 for a
period of rest and to finalise the adoption of their daughter- Angel. We give thanks that they are now allowed to
travel both from Ireland and the UK without issue. It is their hope to return to Nigeria in the second half of 2023.
In January 2023 Caroline Bustard- Interim CEO attended the opening of the Reverend Adrian Adger
Memorial Library and the Iris Ogbonna Memorial Clinic at WWTC.
Reverend Brian Wilson continues to seNe as College Librarian in Peter Achimugu College of Theology (PACT).
Page 5

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and perfomiance {continued)
He returned home in August 2022 for a short period of sickness bLrt retumed in November 2022. Brian is
continuing wth the plans to renovate the college library. Dr Mark Nixon who had been previously accepted for
service as New Testament Lecturer arrived in November 2022 and has been settling well.
We have no ￿11-11me staff at WWTC, but there have been a number of short-term trips to both WWTC and
PACT by Reverend Professor Patton Taylor.
The highly strategic ministry of African Christian Textbooks (ACTS) has continued to thrive. We are indebted to
Pamela Gaiya for her enthusiastic Se￿iCe to the Lord and to Mission Africa as both Nigeria Field Facilitator and
in her role at the Headquarters of ACTS. We thank God for the service of Reverend Sid Garland, along with his
fe Jean. Sid has now reb'red from Mission Africa, but will still be involved in various ACTS activities.
MEDICAL, PRACTICAL AND COMPASSIONATE MINISTRIES
David & Lucy Morrison continue to serve in Chad under the umbrella of COCOAM and TEAM. Their work is
centred upon the alleviation of suffering amongst marginalised and abused women. They returned to the UK in
July 2022 and welcomed their second daughter., Olivia in August 2023. After a few months at home, they
returned to Chad in December 2022.
Katie Morrison retumed to Nigeria for 8 months from August 2022 to April 2023 as Short Temi Mission
Coordinator, based at Holley Memorial Hospital. Katie. along with Friends of Ochadamu (FOO) have undertaken
several renovation projects of the hospitsl compound, including the male and female surgical wards and Primary
School.
The mission currently has no personnel deployed to work with Advance, but continue our partnership with the
Child Sponsorship Programme at Ogugu which has grown numerically over the last number of years.
THE HOME BASE
Peter Irvine started as Finance Officer in January 2022. replacing Mrs Julie Mcconnell who resigned in
December 2021. Lauren Mornin went on matemty leave in May 2022 and was replaced for 11 months by
Catherine Forde who would maintain oversight of Operations & Child Sponsorship. Naomi Spence has had a
busy and successful role wth our short-term mission work. We had several teams in summer 2022 to both
Kenya and Nigeria.
Reverend Dr Paul Bailie continued to se￿e as Chief Executive until his sudden passing in November 2022. Paul
is such a loss to Mission Africa and we give thanks for the 17 years that he served so passionately. Caroline
Bustard, Chair of Council became Interim CEO and has been leading Mission Africa through the challenges and
difficulties that followed Paul's death. We hope to advertise a CEO position over the coming months.
The work of Mission Africa continues to be promoted by our representatives. Robbie & Margaret Toop in
Scotland and Jeremy Nash in England. They have been regular contributors at various churches, conventions
and exhibitions as well as leading and attending various prayer groups.
We give thanks for the Mission Africa prayer groups. Their role in promoting prayer, giving and the general
profile of the mission cannot be underestimated. We are concerned by the relatively small number of prayer
groups in existence today. We would ask our supporters to make it an urgent matter of prayer that the next
generation would continue to be diligent in prayer. One unexpected benefit from the pandemic was the use of
Zoom, which has provided the opportunity to meet as a Central Prayer group each month and has proved to be a
very successful means of connecting staff, missionaries and supporters.
FINANCES
After some years of deficit, it vrfas encouraging to see signs of improvement for the year ending January 2022.
Unfortunately, the year ending January 2023 has again revealed a deficit in our accounts. We continue to be
grateful to all those who have supported the work through their sacrificial giving. While there is a deficit for the
year ending January 2023, we know that the monies spent have been used to further the aims and objectives
Page 6

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Achievements and perfomiance {continued)
that are core to Mission Africa.
b. Investment policy and perfomiance
The objective is to maximise investment income, thus limiting the need to fund activities out of reserves- but the
level of risk is kept to a moderate level. We are very ably advised by Investec and, more recently, by Evelyn, on
all investments matters, and Council take the view that the use of undisputed expert advisors fulfils the
requirement of the Trustees Act 2001 that all investments be handled wth all possible care and diligence.
Financial review
. Going concern
After making appropriate enquiries, the Council have a reasonable expectation that the Company has adequate
resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt
the going concem basis in preparing the financial ststements. Further detai15 regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Reserves policy
The charity finished the year wth a deficit of £73,415 (2022.. surplus £104,097) and reserves of £1,574,734
{2022'. £1,648,149). £1,278,978 of reserves were unrestricted and £295,756. were restricted. The Council are
satisfied wth the results for the year.
To ensure the Mission's reserves are adequate to maintain and fund the long term objectives of the Mission,
expenditure wll nomially be limited to the income derived through its investments, membership subscriptions,
annual appeals, bequests, regular Grft Aid donations and (to a very minor exient) the sale of books. Because of
the deficit that has affected the Mission Finances over the last few years, it has proven necessary to expend
reserves from time to time. Council has agreed, however, that the reserves wll not be permitted to drop below a
figure that would be the equivalent of 6 months of normal operations.
The state of the Mission's investments remains robust. although there have been market fluctuations in these
financially uncertain days.
c. Principal risks and uncertainties
The Council is acutely aware of the duty placed upon it to avoid needless risk. The Council continue to keep the
Mission's activities under review, particularly with regard to any major risks that may arise from time to time, such
as the generalised terrorist threat in Nigeria and Kenya, but also financial and reputational threats. The major
risks identified by this process have been mitigated to an acceptsble level by the training of overseas staff,
internal control systems, insurance cover, third paty project reports and other procedures as considered
appropriate from time to time.
d. Financial risk management objectives and policies
The Council have assessed the major risks to which the Company is exposed, in particular those related to the
operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate
exposure to the major risks.
Page 7

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
COUNCIL'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
Members. liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the
Company in the event of winding up.
ststement of Council's responsibilities
The Council (who are also the directors of the Company for the purposes of company law) are responsible for
preparing the Council's Report and the financial statements in accordance wth applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Council to prepare financial statements for each financial . Under company law, the
Council 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 Company and of its incoming resources and application of resources, including its
income and expenditure. for that period. In preparing these financial statements, the Council are required to..
select suitable accounting policies and then appty them consistently-
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company wll continue in business.
The Council are responsible for keeping adequate accounting records that are sufficient to show and explain the
Company's transactions and disclose wth reasonable accuracy at any time the financial position of the Company
and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also
responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularits'es.
Disclosure of infonnation to auditors
Each of the persons wtho are Council at the time when this Council's Report is approved has confirmed that..
so far as that Council is aware. there is no relevant audit information of ￿lch the charity's auditors are
unaware, and
that Council has taken all the steps that ought to have been tsken as a Council in order to be aware of any
relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors. UHY Hacker Young Fitch Limited. have indicated their wllingness to continue in office. The
designated Council wll propose a motion reappointing the auditors at a meeting of the Council.
Approved by order of the members of the board of Council on 13 March 2024 and signed on their behalf by=
Caroline Sarah Bustard
(Chair of Trustees)
Page 8

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MISSION AFRICA (THE QUA IBOE
FELLOWSHIP)
Opinion
We
have
audited
the
financial
statements
of
Mission
Africa
(The
Qua
Iboe
Fellowship) (the 'charitable company'l for the year ended 31 January 2023 which comprise the Statement of
Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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).
In our opinion the financial statements:
give a true and fair view of the state of the charrtable companws affairs as at 31 January 2023 and of its
incoming resources and application of resources, including its income and expenditure for the year then
ended.,
have been properly prepared in accordance with United lQ'ngdom 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 wth International Standards on Auditing {UKI IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our reporL We are independent of the charitable company in accordance
wth the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical
responsibilities in accordance wth 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 Council's use of the going concem 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 charitable company's ability to
ontinue 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 Council with respect to going concern are described in the
relevant sections of this report
Other infomiation
The other information comprises the InfO￿atIOn induded in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Council are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly ststed in our report, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other
information is materially inconsistent wth the financial statements or our kno￿edge obtained in the course of the
audit, or otherwse appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine vthether this gives rise to a material misstatement in the
financial statements themselves. 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 facL
We have nothing to report in this regard.
Page 9

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MISSION AFRICA (THE QUA IBOE
FELLOWSHIP) (CONTINUED)
Opinion 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 Council's Report for the financial year for which the financial statements are
prepared is consistent wth the financial ststements.
the Council's Report has been prepared in accordance viith applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knO%￿edge and understanding of the charitable company and its environment obtained in the
ourse of the audit, we have not identified material misstatements in the Council's Report.
We have nothing to report in respect of the follobwng matters in relation to vthich Companies Act 2006 requires
us to report to you if, in our opinion-
adequate accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of Council's remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit- or
the Council 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 Council's Report and
from the requirement to prepare a Strategic Report.
Responsibilities of trustees
As explained more fully in the Council's Responsibilrties Statement. the Council (who are also the directors of the
haritable company for the purposes of company law) 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 Council
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 Council are responsible for assessing the charitable 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 Council either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Page 10

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MISSION AFRICA (THE QUA IBOE
FELLOWSHIP) (CONTINUED)
Auditor5. 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 Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wth ISAS (UK) wll a￿yS 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line wth our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to vthich our procedures are capable of detecting irregularities, including fraud is
detailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows.
The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. As part of the
audit in accordance ISAS (UK) we exercised professional judgement and maintained professional
scepticism throughout the audit. We identified the laws and regulations applicable to the company through
discussions with directors and other management. and from our commercial knowledge and experience of the
sector and we focused on specific lavts and regulations which we considered may have a direct material effect
on the financial statements or the operations of the company. including the Companies Act 2006. Charities Act,
tsxation legislation and data protection, anti-bribery, employment, environmental and health and safety
legislation.
We assessed the susceptibility of the companys financial statements to material misstatement, including
obtaining an understanding of how fraud might occur. by making enquiries of management as to where they
considered there was susceptibility to fraud, their kno￿edge of actual, suspected and alleged fraud and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
We obtained an understsnding of intemal controls relevant to the audit in order to design audit procedures that
were appropriate in the circumstances but not for the purpose of expressing an opinion of the effectiveness of
the Company's intemal controls.
To address the risk of fraud through management bias and override of controls, we performed analytical
procedures to identify any unusual or unexpected relationships," tested journal entries to identify unusual
transactions,. evaluated the appropriateness of accounting policies used. including managements, use of the
going concern basis of accounting, and the reasonableness of accounting estimates and related disclosures
made by management,. and investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance laws and regulations, we designed procedures
which induded but were not limited to agreeing financial statement disclosures to underfying supporting
documentation., reading the minutes of meetings of those charged with governance., and enquiring of
management as to actual and potential lrtigation and claims.
Because of the inherent limitations of an audit. there is a risk that we wll not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance wth regulation. This risk
increases the more that compliance a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion. omission or misrepresentation.
A further description of our responsibilities for the audit of the financial ststements is located on the Financial
Reporting Council's website at.. WM.frc.or
-uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Page11

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MISSION AFRICA (THE QUA IBOE
FELLOWSHIP) (CONTINUED)
Use of our report
This report is made solety to the charitable company's members, as a body, in accordance wth Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an Auditors, 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we
have formed.
Michael Fitch (Senior Ststutory Auditor)
for and on behalf of
UHY Hacker Young Fitch Limited
Statutory Auditors and Chartered Accountants
Gordon Street Mews
27-29 Gordon Street
Belfast
Antrim
BT12LG
13 March 2024
UHY Hacker Young Fitch Limited are eligible to act as auditors in terms of section 1212 of the Companies Act
2006.
Page 12

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2023
Unrestricted
funds
2023
Restricted
funds
2023
Totsl
funds
2023
Total
funds
2022
Note
Income from:
Donations and legacies
Investments
Other income
429.840
46,450
210,397
888
640,238
47,338
609, 724
41,869
35
Total income
476.290
211,285
687.575
657,628
Expenditure on:
Charitable activities
548.872
206,088
754,960
614,883
Total expenditure
548,872
206,088
754.960
614,883
Net (expenditure)fincome before net
(losses)Igains on investments
Net (losses)Igains on investments
(72.582)
(6.030)
5,197
167.385
16,030
36, 745
67,352
Net (expenditureifincome
Transfers between funds
(78.612)
(14.223)
5,197
14,223
173.415
104,09T
17
Net movement in funds
(92,835)
19,420
(73,415
104,097
Reconciliation of funds:
Total funds brought foNrfard
Net movement in funds
1.371.813
(92,835)
276,336
19,420
1,648,149
(73,415
1, 544,052
104,097
Total funds carried fonNard
1,278.978
295,756
1,574,734
1,648, 149
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 to 32 fomi part of these financial statements.
Page 13

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
REGISTERED NUMBER: R0000611
BALANCE SHEET
AS AT 31 JANUARY 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
12
13
166.271
1,185,703
170, 628
1, 195,250
1,351,974
1,365,878
Current assets
Debtors
Cash at bank and in hand
14
25,486
206,481
27, 036
261,551
231,967
288, 587
Creditors.. amounts falling due wthin one
year
15
19,207)
(6,316)
Net current assets
222,760
282,271
Total assets less current liabilities
1,574,734
1, 648, 149
Net assets excluding pension asset
1,574,734
1,648, 149
Total net assets
1,574.734
1,648, 149
Charity funds
Restricted funds
Unrestricted funds
17
295,756
276, 336
Designated funds
General funds
17
17
239.296
1,039,682
260, 659
1,111,154
Totsl unrestricted funds
17
1,278,978
1,371,813
Total funds
1.574.734
1,648, 149
The Council aCknO￿edge their responsibilities for complying with the requirements of the Act wth respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance V￿th the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Council on 13 March 2024 and signed
on their behalf by..
Caroline Sarah Bustard
{Chair of Trustees)
The notes on pages 16 to 32 fomi part of these financial statements.
Page 14

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2023
2023
2022
Cash flows from operating activities
Net cash used in operating activities
(103,648
(6, 498)
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of investments
47,338
15981
55,824
(53,985)
41,869
(4, 646)
Purchase of investments
(323,494J
Net cash provided byl{used in) investing activities
48,579
(286,271 }
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(55,069)
(292,769
261,551
554, 320
Cash and cash equivalents at the end of the year
206,482
261,551
The notes on pages 16 to 32 form part of these financial statements
Page 15

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
General infomiation
Mission Africa is a charitable company limited by guarantee and is incorporated and registered in Northern
Ireland under company registration number R0000611. It is a registered charity with the Charities
Commission in Northern Ireland under number NIC102150.
The charitsble company's registered office is situated at 14 Glencregagh Court. Belfast, B T6 OPA.
The principal activities of the company are the advancement of Christianity, education and the relief of
povety in Africa through voluntary work and financial assistance of charitable projects.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance wth the Charities SORP (FRS 102)
Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities
preparing their accounts in accordance the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2015). the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006.
Mission Africa (The Qua Iboe Fellowship) meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
otheNise stated in the relevant accounting policy.
2.2 Going concem
The charitable company's activities, together with the factors likely to affect its future development,
performance and financial position are set out in the Trustees, Report. The financial position of the
charity, along with its policies and processes for maintaining current activity, managing its funding
and its financial risk management are also set out in the Trustees, Report.
The charity meets its day to day working capital requirements through donations & legacies. The
charity's forecasts and projections. taking account of reasonably possible changes in operating
perfom)ance, show that the charity ￿11 be able to operate wthin its current facilities.
After making enquiries, the Trustees have a reasonable expectation that the charity has adequate
resources to continue in operation for the foreseeable future. Accordingly, they continue to adopt the
going concern basis in preparing the annual report and accounts.
Page 16

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Accounting policies (continued)
2.3 Income
All income is recognised once the Company has entitlement to the income. it is probable that the
income wll be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to
them (through kno￿edge of the existence of a valid wll and the death of the benefactor) and the
executor is satisfied that the property in question will not be required to satisfy claims in the estate.
Receipt of a legacy must be recognised when it is probable that it will be received and the fair value
of the amount receivable, which VAII generally be the expected cash amount to be distributed to the
Company, can be reliably measured.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tsx recoverable in relation to investment income is recognised at the time the investment
income is receivable.
other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent Imth
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the porbon of the assets use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is induded when receivable and the amount can be measured
reliably by the Company., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
Page 17

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Accounting policies (continued)
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initialty recognised at cost. After recognttion, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
induded in the measurement of cosL
Depreciation 15 charged so a5 to allocate the cost of tsngible fixed assets les5 their residual value
over their estimated useful lives. using the straight-line method.
Depreciation is provided on the followng basis=
Freehold propety
Plant and machinery
Motor vehides
Not depreciated
250A Straight line
250h Straight line
2.7 Inveslments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value
cannot be measured reliably in vthich case rt is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the Statement of Financial Activities.
2.8 Debtory
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it wll pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability- The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 18

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Accounting policies (continued)
2.11 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 value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.12 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the Company to the fund in respect of the year.
2.13 Fund accounting
General funds are unrestricted funds ￿lch are available for use at the discretion of the Council in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Council for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance specific restrictions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fvnd. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 19

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Income from donations and legacies
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Donations
Legacies
Gift-aid tax reclaim
285,283
125,287
19,270
192.263
477.546
125,287
37,404
18,134
Totsl 2023
429,840
210,397
640,237
Unrestricted
runds
2022
Restncted
funds
2022
Total
funds
2022
Donations
237,986
137,382
22,209
188, 654
426, 640
137,382
45, 703
Legacies
Gift-aid tsx reclaim
23,494
Total 2022
397, 577
212, 148
609, 725
Page 20

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Investment income
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Income from listed investments
Investment income- cash depostts
46.249
201
888
47,137
201
Total 2023
46.450
888
47.338
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Income from listed investments
41,065
33
771
41,836
33
Investment income- cash deposf(s
Total 2022
41,098
771
41,869
Other incoming resources
Total
funds
2023
Unrestncted
funds
2022
Total
funds
2022
Rental income
35
35
Page 21

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Analysis of grants
Grants to
Institutions
2023
Total
funds
2023
Partner Churches throughout Africa
36,077
36,077
Grants to
Institutions
2022
Total
funds
2022
Partner Churches throughout Africa
5,844
5, 844
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
Advancement of Christianity
548,872
206,088
754,960
Unrestricted
runds
2022
Restricted
runds
2022
Total
2022
Advancement of Christianity
420,282
194,607
614,883
Page 22

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Analysis of expenditure by activities
Activities
undertaken
directly
2023
Grant
funding of
activities
2023
Support
costs
2023
Total
funds
2023
Advancement of Christianity
375,868
36,077
343,016
754,961
Actwities
undertaken
directly
2022
Grant
funding ol
activities
2022
Support
costs
2022
Total
funds
2022
Advancement of Christianity
353.363
5,844
255, 675
614,882
Auditors. remuneration
2023
2022
Fees payable to the Company's auditor for the audit of the Company's
annual accounts
3,490
3,170
Fees payable to the Company's auditor in respect of=
All non-audit services not induded above
1,495
1,358
10. Stsff costs
2023
2022
Wages and salaries
Social security costs
Contribution to defined contribLrtion pension schemes
255,501
13,905
37,409
247, 058
8,482
20,301
306,815
275,841
Page 23

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
10. staff costs (continued)
The average number of persons employed by the Company during the year was as follows:
2023
No.
2022
No.
Home staff
Missionaries
Retired workers
Retumed Missionaries
22
21
No employee received remuneration amounting to more than £60,000 in either year.
During the year key management personnel received remuneration totalling £39,391 (2022.. £37,312).
11.
Council's remuneration and expenses
During the year, no Council received any remuneration or other benefits (2022- £NIL).
During the year ended 31 January 2023. no Council expenses have been incurred {2022- £NIL).
Page 24

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
12. Tangible fixed assets
Freehold
property
Plant and
machinery
Motor
vehicles
Total
Cost or valuation
At 1 February 2022
Additions
150,000
59,967
598
36,687
246,654
598
At 31 January 2023
150.000
60,565
36,687
247,252
Depreciation
At 1 February 2022
Charge for the year
53,061
1,793
22,966
3,161
76.027
4,954
At 31 January 2023
54.854
26,127
80.981
Net book value
At 31 January 2023
150.000
5,711
10,560
166.271
At 31 January 2022
150, 000
6.907
13, 721
170, 628
13.
Fixed asset investments
Listed
investments
Cost or valuation
At 1 February 2022
Additions
1,195,250
53,986
(55,824)
17,708
Disposals
Revaluations
At 31 January 2023
1,185,703
Net book value
At 31 January 2023
1,185,703
At 31 January 2022
1, 195,250
Page 25

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
14. Debtors
2023
2022
Due within one year
Prepayments and accrued income
25,486
27,036
25,486
27,036
15. Creditors: Amounts falling due within one year
2023
2022
Other creditors
Accruals and deferred income
4,222
4,985
849
5,467
9,207
6,316
16.
Financial instruments
2023
2022
Financial assets
Financial assets measured at fair value through income and expenditure
206,481
261,549
Financial assets measured at fair value through income and expenditure comprise cash & cash
equivalents.
Page 26

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
17. Statement of funds
statement of funds - current year
Balance at 1
February
2022
Balance at
Gainsl 31 January
(Lossesl
2023
Transfers
inlout
Income Expenditure
Unrestricted
funds
Designated
funds
Retired workers
Legacies
Field Treasurers
Investment
property
203.959
118,270
185,689
47,177
47.177
9,523
13,093)
6,430
260,659
121,363
239,296
General funds
General Funds
1.111,154
476,290
{527,509)
114,223)
16,030
1,039,682
Total
Unrestricted
funds
1.371,813
476,290
{548,872)
(14,223
16,030
1,278,978
Restricted
funds
Theological
Colleges
Theological
Education
Literature
12,924
(20,429)
7,505
8.267
6,136
16.683
8,267
11,373
14.160
7,855
6,782
12,618)
19.305)
Chad
Qua Iboe
Church
Missionaries
Medical
440
43.407
440
45,258
30,243
128,392
Holley Memorial
Hospital
Burkina Faso
5.256
14,325
69,851
14,165)
176,569
15,416
6,718
In Memory Of
Sundry and
other projects
Short Temi
672
672
53.223
22,494
20.883
27,220
127,277
137,293)
46.829
12,421
Page 27

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
17. statement of funds Icontinued)
statement of funds - current year (continued)
Balance at 1
February
2022
Balance at
Gainsl 31 January
(Lossesl
2023
Transfers
inlout
Income Expenditure
College
Endowment
15,697
10.442
68.642
888
16,585
12,583
68,642
Home Allowance
Gift-Aid
2.181
Visitors Passage
and Travel
Coronavirus
Appeal
Adrian Adger
205
205
3.628
21.144
3,628
39,277
18,133
276.336
211,285
{206,088)
14,223
295,756
Total of funds
1,648.149
687,575
{754.960)
16.0301 1,574.734
Statement of funds - prior year
Balance at
1 February
2021
Balance at
Gainsl 31 January
(Losses)
2022
Transfers
in/out
Income Expenditure
Unrestricted
funds
Designated
funds
Retired workers
221.276
20,530
47,177
(17,317)
203, 959
Legacies
Field Treasurers
Investment
property
(20, 530)
47,177
11,838
(2,315)
9,523
300,821
(19,632)
(20, 530)
260, 659
General funds
General Funds
985,213
438, 709
(400, 650)
20, 530
67, 352
1,111,154
Total
Unrestricted
funds
1,286,034
438, 709
(420,282)
67, 352
1,371,813
Page 28

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
17. statement of funds Icontinued)
Restricted
funds
Theological
Colleges
Theological
Education
Literature
3, 794
23, 749
(27,543)
8,267
13,280
14,722
8,267
6, 136
16,683
9,656
7.396
(16,800)
(5.435)
Chad
Qua Iboe
Church
Missionaries
Medical
440
16,796
440
43, 407
50,062
(23,451)
Holley Memorial
Hospital
Burkina Faso
5,373
2,172
54,809
(2,289)
(54,809)
5,256
In Memory Of
Sundry and
other projects
Short Term
College
Endowment
Home Allowance
672
672
30, 763
22,257
48.386
2, 100
(25.926)
(1,863)
53, 223
22, 494
14,926
15,651
69.040
771
4,005
15,697
10,442
68, 642
(9,214)
(398J
Gift-Aid
Visitors Passage
and Travel
205
205
Coronavirus
Appeal
Adrian Adger
4,375
5.438
(747)
(26, 126)
3, 628
21, 144
41.832
258,018
212,919
(194,601)
276, 336
Total of funds
1,544,052
651,628
(614,883)
67,352
1,648, 149
Page 29

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
18. Summary of funds
Summary of funds - current year
Balance at 1
February
2022
Balance at
Gainsl 31 January
(Lossesl
2023
Transfers
inlout
Income Expenditure
Designated
funds
General funds
Restricted funds
260,659
1.111,154
276,336
121,363
{527,509)
{206.088)
239,296
1,039,682
295,756
476,290
211,285
(14,223)
14.223
16,030
1,648,149
687,575
{754,960)
16,030
1,574,734
Summary of funds- prior year
Balance at
l February
2021
Balance at
31 January
2022
Transfers
in/out
Gains/
(Losses)
Income Expenditure
Designated
funds
300,821
985.213
258,018
(19,632)
(400.650)
(194,601)
(20,530)
20,530
260, 659
1,111,154
276, 336
General funds
Restricted funds
438. 709
212,919
67,352
1,544,052
651,628
(614.883)
67,352
1,648, 149
19. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
166,271
1.118.158
3,756
{9,208)
166,271
1,185.703
231,967
19,207
67,545
228,211
Creditors due wthin one year
Difference
Total
1.278.977
295.756
1,574,733
Page 30

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
19. Analysis of net assets between funds Icontinued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
170, 628
1, 125,257
82.242
(6,316)
170, 628
1, 195,250
288, 585
(6,316)
69,993
206,343
Current assets
Creditors due V¥4thin one year
Total
1,371,811
276,336
1,648, 147
20.
Reconciliation of net movement in funds to net cash flow from operating activities
2023
2022
Net incomelexpendrture for the year (as per Statement of Financial
Activities)
173,415)
104,09T
Adjustments for:
Depreciation charges
Gainsl{losses) on investments
Dividends. interests and rents from investments
Decreasel(increase) in debtors
Increasel{decrease) in creditors
4,954
7,710
147,338)
1,550
2,891
7,711
(67, 352)
(41,869)
(8, 946)
(139)
Net cash used in operating activities
(103,648}
(6, 498)
21.
Analysis of cash and cash equivalents
2023
2022
Cash in hand
206,482
261,551
Total cash and cash equivalents
206,482
261,551
Page 31

MISSION AFRICA (THE QUA IBOE FELLOWSHIP)
(A Company Limited by Guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
22. Analysis of changes in net debt
At1
February
2022 Cash flows
At31
January
2023
Cash at bank and in hand
261,549
(55,068)
206,481
261.549
155.068)
206.481
23.
Pension commitments
The charity operates a defined contribution pension scheme. The pension cost charge for the period
represents contributions payable by the charity to the scheme and amounted to £37,409 (2022= £20,301).
Contributions totalling £3,381 (2022.. £Nil) were outstsnding at the balance sheet date.
24.
Operating lease commitments
At 31 January 2023 the Company had commitments to make fLrture minimum lease payments under non-
cancellable operating leases as follows=
2023
2022
Not later than 1 year
Later than 1 year and not later than 5 years
11,052
1,526
11,052
2,270
12,578
13,322
25. Related party transactions
There were no related party transactions in the year.
26. PAASE disclosure
In common with many other charities of our size and nature, we use our auditors to assist with the
preparation of financial statements.
27. Controlling party
The Charity is controlled by the Trusteeslcouncil members vtho are also directors of Mission Africa (The
Qua Iboe Fellowship) for the purposes of company law.
Page 32