## **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 2026** |**Note**
**Income from:**
Donations and legacies
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net (expenditure)/income before net**
**gains on investments**
Net gains on investments
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Other gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2026**
**£**
**274,050**
**42,319**
**316,369**
**397,064**
**397,064**
**(80,695)**
**106,451**
**25,756**
**-**
**25,756**
**1,225,273**
**25,756**
**1,251,029**|**Restricted**
**funds**
**2026**
**£**
**269,006**
**-**
**269,006**
**256,369**
**256,369**
**12,637**
**-**
**12,637**
**-**
**12,637**
**408,078**
**12,637**
**420,715**|**Total**
**funds**
**2026**
**£**
**543,056**
**42,319**
**585,375**
**653,433**
**653,433**
**(68,058)**
**106,451**
**38,393**
**-**
**38,393**
**1,633,351**
**38,393**
**1,671,744**|_Total_
_funds_
_2025_
_£_
_498,340_
_53,879_
_552,219_
_568,247_
_568,247_
_(16,028)_
_52,881_
_36,853_
_159,913_
_196,766_
_1,436,585_
_196,766_
_1,633,351_| |---|---|---|---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 16 to 32 form 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 2026** |**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
18
Unrestricted funds
Designated funds
18
General funds
18
Total unrestricted funds
18
**Total funds**|**18,597**
**392,745**
**411,342**
**(21,175)**
**136,738**
**1,114,290**|**2026**
**£**
**10,434**
**1,271,142**
**1,281,576**
**390,167**
**1,671,743**
**1,671,743**
**1,671,743**
**420,715**
**1,251,028**
**1,671,743**|_36,278_
_470,973_
_507,251_
_(34,423)_
_151,055_
_1,074,218_|_2025_
_£_
_11,172_
_1,149,351_| |---|---|---|---|---| |||||_1,160,523_
_472,828_| |||||_1,633,351_| |||||_1,633,351_| |||||_1,633,351_| |||||_408,078_
_1,225,273_| |||||_1,633,351_| The Council acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Council on 07 July 2026 and signed on their behalf by: ................................................ **Naomi Barfoot** (Chair of Council) Page 14 ## **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2026** |**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
**Net cash provided by investing activities**
**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
**Cash and cash equivalents at the end of the year**
The notes on pages 16 to 32 form part of these financial statements|**2026**
**£**
**(101,134)**
**42,319**
**-**
**(4,073)**
**84,531**
**(100,141)**
**22,636**
**-**
**(78,498)**
**470,973**
**392,475**|_2025_
_£_
_(101,555)_
_53,880_
_320,973_
_(7,239)_
_604,174_
_(553,875)_
**417,913**
**-**
**316,358**
_154,615_
_470,973_| |---|---|---| Page 15 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **1. General information** 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 charitable company's registered office is situated at 14 Glencregagh Court, Belfast, BT6 0PA. The principal activities of the company are the advancement of Christianity, education and the relief of poverty in Africa through voluntary work and financial assistance of charitable projects. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 otherwise stated in the relevant accounting policy. ## **2.2 Going concern** The charitable company's activities, together with the factors likely to affect its future development, performance and financial position are set out in the Councils' 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 Councils' 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 performance, show that the charity will be able to operate within its current facilities. After making enquiries, the Council 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 2026** ## **2. Accounting policies (continued)** ## **2.3 Income** All income is recognised once the Company has entitlement to the income, it is probable that the income will 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 knowledge of the existence of a valid will 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 will 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. Investment income is recognised at the time the investment income is receivable. ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion 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 included 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 2026** ## **2. 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 initially recognised at cost. After recognition, 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 included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Plant and machinery - 25% Straight line Motor vehicles - 25% Straight line ## **2.7 Investments** 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 which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. ## **2.8 Debtors** Other debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. ## **2.9 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term 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 will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## **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. ## **2.12 Operating leases** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. Page 18 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **2. Accounting policies (continued)** ## **2.13 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. ## **2.14 Fund accounting** General funds are unrestricted funds which 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 with 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 fund. 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. ## **3. Critical accounting estimates and areas of judgment** The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the charitable company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, include: - The valuation of listed investments Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Page 19 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **4. Income from donations and legacies** |**Unrestricted**
**funds**
**2026**
**£**
Donations
192,608
Legacies
74,995
Gift-aid tax reclaim
6,447
**Total 2026**
274,050
_Unrestricted_
_funds_
_2025_
_£_
Donations
_204,393_
Legacies
_19,815_
Gift-aid tax reclaim
_10,227_
_Total 2025_
_234,435_|**Restricted**
**funds**
**2026**
**£**
263,522
-
5,484
269,006
_Restricted_
_funds_
_2025_
_£_
_237,220_
_-_
_26,685_
_263,905_|**Total**
**funds**
**2026**
**£**
**456,130**
**74,995**
**11,931**
**543,056**| |---|---|---| |||_Total_
_funds_
_2025_
_£_
_441,613_
_19,815_
_36,912_
_498,340_| Page 20 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **5. Investment income** |Income from listed investments
Investment income - cash deposits
**Total 2026**
Income from listed investments
Investment income - cash deposits
_Total 2025_|**Unrestricted**
**funds**
**2026**
**£**
38,395
3,924
42,319
_Unrestricted_
_funds_
_2025_
_Restricted_
_funds_
_2025_
_£_
_£_
_52,029_
_206_
_1,645_
_-_
_53,674_
_206_|**Total**
**funds**
**2026**
**£**
**38,395**
**3,924**
**42,319**| |---|---|---| |||_Total_
_funds_
_2025_
_£_
_52,235_
_1,645_
_53,880_| ## **6. Analysis of grants** |Partner Churches throughout Africa
Partner Churches throughout Africa|**Grants to**
**Institutions**
**2026**
**£**
4,500
_Grants to_
_Institutions_
_2025_
_£_
_11,613_|**Total**
**funds**
**2026**
**£**
**4,500**
_Total_
_funds_
_2025_
_£_
_11,613_| |---|---|---| Page 21 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **7. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2026**
**£**
Advancement of Christianity, education and the relief of
poverty in Africa
397,064
_Unrestricted_
_funds_
_2025_
_£_
Advancement of Christianity, education and the relief of
poverty in Africa
_390,357_|**Restricted**
**funds**
**2026**
**£**
256,369
_Restricted_
_funds_
_2025_
_£_
_177,890_|**Total**
**2026**
**£**
**653,433**| |---|---|---| |||_Total_
_2025_
_£_
_568,247_| ## **8. Analysis of expenditure by activities** |Advancement of Christianity, education and
the relief of poverty in Africa
Advancement of Christianity, education and
the relief of poverty in Africa|**Activities**
**undertaken**
**directly**
**2026**
**£**
362,340
_Activities_
_undertaken_
_directly_
_2025_
_£_
_285,563_|**Grant**
**funding of**
**activities**
**2026**
**£**
4,500
_Grant_
_funding of_
_activities_
_2025_
_£_
_11,613_|**Support**
**costs**
**2026**
**£**
286,593
_Support_
_costs_
_2025_
_£_
_271,071_|**Total**
**funds**
**2026**
**£**
**653,433**
_Total_
_funds_
_2025_
_£_
_568,247_| |---|---|---|---|---| Page 22 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **9. Auditors' remuneration** ||**2026**|_2025_| |---|---|---| ||**£**|_£_| |Fees payable to the Company's auditor for the audit of the Company's||| |annual accounts|**18,580**|_17,927_| |Fees payable to the Company's auditor in respect of:||| |All non-audit services not included above|**2,970**|_2,860_| ## **10. Net movement in funds** |Depreciation
Auditor's remuneration
Staff pension costs|**2026**
**£**
**4,810**
**21,550**
**20,745**
**47,105**|_2025_
_£_
_850_
_20,787_
_20,762_
_42,399_| |---|---|---| ## **11. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2026**
**£**
**222,720**
**11,381**
**20,745**
**254,846**|_2025_
_£_
_243,511_
_6,160_
_20,762_| |---|---|---| |||_270,433_| The average number of persons employed by the Company during the year was as follows: |Home staff
Missionaries
Retired workers
Returned Missionaries|**2026**
**No.**
**7**
**7**
**4**
**1**
**19**|_2025_
_No._
_6_
_10_
_5_
_1_| |---|---|---| |||_22_| No employee received remuneration amounting to more than £60,000 in either year. During the year key management personnel received remuneration totalling £51,581(2025: £47,598). Page 23 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP) (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **12. Council's remuneration and expenses** During the year, no Council member received any remuneration or other benefits _(2025 - £NIL)_ . During the year ended 31 January 2026, no Council member's expenses have been incurred _(2025 - £ NIL)_ . ## **13. Tangible fixed assets** |**Cost or valuation**
At 1 February 2025
Additions
At 31 January 2026
**Depreciation**
At 1 February 2025
Charge for the year
At 31 January 2026
**Net book value**
At 31 January 2026
_At 31 January 2025_|**Plant and**
**machinery**
**£**
**20,249**
**4,073**
**24,322**
**11,458**
**4,078**
**15,536**
**8,786**
_8,791_|**Motor**
**vehicles**
**£**
**31,916**
**-**
**31,916**
**29,536**
**732**
**30,268**
**1,648**
_2,380_|**Total**
**£**
**52,165**
**4,073**
**56,238**| |---|---|---|---| ||||**40,994**
**4,810**
**45,804**| ||||**10,434**| ||||_11,171_| Page 24 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **14. Fixed asset investments** |**Cost or valuation**
At 1 February 2025
Additions
Disposals
Revaluations
At 31 January 2026
**Net book value**
At 31 January 2026
_At 31 January 2025_|**Listed**
**investments**
**£**
**1,149,352**
**100,141**
**(82,087)**
**103,736**| |---|---| ||**1,271,142**| ||**1,271,142**| ||_1,149,352_| ## **15. Debtors** |**Due within one year**
Prepayments and accrued income|**2026**
**£**
**18,597**
**18,597**|_2025_
_£_
_36,278_
_36,278_| |---|---|---| Page 25 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **16. Creditors: Amounts falling due within one year** |Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2026**
**£**
**3,600**
**4,634**
**4,738**
**8,203**
**21,175**|_2025_
_£_
_-_
_2,332_
_7,526_
_24,565_| |---|---|---| |||_34,423_| ## **17. Financial instruments** ||**2026**|_2025_| |---|---|---| ||**£**|_£_| |**Financial assets**||| |Financial assets measured at fair value through income and expenditure|**392,745**|_470,973_| 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 2026** ## **18. Statement of funds** ## **Statement of funds - current year** |**Unrestricted**
**funds**
**Designated**
**funds**
Retired workers
**General funds**
General Funds
**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
Theological
Colleges
Theological
Education
Literature
Chad
Medical
Holley Memorial
Hospital
Burkina Faso
Sundry and
other projects
Short Term
College
Endowment
Special Appeal
Adrian Adger
**Total of funds**|**Balance at 1**
**February**
**2025**
**£**
**151,055**
**1,074,218**
**1,225,273**
**2,614**
**12,377**
**15,145**
**33,128**
**157,196**
**21,015**
**5,667**
**70,984**
**19,926**
**24,614**
**26,889**
**18,523**
**408,078**
**1,633,351**|**Income**
**£**
**-**
**316,368**
**316,368**
**1,878**
**1,576**
**2,942**
**3,470**
**50,817**
**5,450**
**56,238**
**20,200**
**126,435**
**-**
**-**
**-**
**269,006**
**585,374**|**Expenditure**
**£**
**(14,317)**
**(382,747)**
**(397,064)**
**(5,319)**
**(8,529)**
**(1,567)**
**(4,405)**
**(40,721)**
**(6,476)**
**(45,400)**
**(23,593)**
**(116,843)**
**-**
**(3,516)**
**-**
**(256,369)**
**(653,433)**|**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**9,090**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(9,090)**
**-**
**-**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**106,451**
**106,451**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**106,451**|**Balance at**
**31 January**
**2026**
**£**
**136,738**| |---|---|---|---|---|---|---| |||||||**1,114,290**| |||||||**1,251,028**| |||||||**8,263**
**5,424**
**16,520**
**32,193**
**167,292**
**19,989**
**16,505**
**67,591**
**29,518**
**24,614**
**14,283**
**18,523**
**420,715**| |||||||**1,671,743**| Page 27 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **18. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted**
**funds**
**Designated**
**funds**
Retired workers
Investment
property
**General funds**
General Funds
**Total**
**Unrestricted**
**funds**
**Restricted**
**funds**
Theological
Colleges
Theological
Education
Literature
Chad
Medical
Holley Memorial
Hospital
Burkina Faso
Sundry and
other projects
Short Term
College
Endowment
Home Allowance
Special Appeal
Adrian Adger|_Balance at_
_1 February_
_2024_
_£_
_168,372_
_4,677_
_173,049_
_941,678_
_1,114,727_
_3,106_
_6,109_
_14,428_
_21,574_
_79,268_
_22,656_
_11,530_
_65,183_
_-_
_24,408_
_18,371_
_25,300_
_29,924_|_Income_
_£_
_-_
_-_
_-_
_288,109_
_288,109_
_13,105_
_6,608_
_3,775_
_11,554_
_74,495_
_7,742_
_35,342_
_22,443_
_87,252_
_206_
_-_
_1,589_
_-_|_Expenditure_
_£_
_(17,317)_
_-_
_(17,317)_
_(373,040)_
_(390,357)_
_(13,597)_
_(340)_
_(3,058)_
_-_
_(20,542)_
_(9,383)_
_(41,205)_
_(11,038)_
_(67,326)_
_-_
_-_
_-_
_(11,401)_|_Transfers_
_in/out_
_£_
_-_
_(4,677)_
_(4,677)_
_4,677_
_-_
_-_
_-_
_-_
_-_
_23,975_
_-_
_-_
_(5,604)_
_-_
_-_
_(18,371)_
_-_
_-_|_Gains/_
_(Losses)_
_£_
_-_
_-_
_-_
_212,794_
_212,794_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_Balance at_
_31 January_
_2025_
_£_
_151,055_
_-_
_151,055_| |---|---|---|---|---|---|---| |||||||_1,074,218_| |||||||_1,225,273_| |||||||_2,614_
_12,377_
_15,145_
_33,128_
_157,196_
_21,015_
_5,667_
_70,984_
_19,926_
_24,614_
_-_
_26,889_
_18,523_| Page 28 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **18. Statement of funds (continued)** ## **Statement of funds - prior year (continued)** **----- Start of picture text -----**
Balance at Balance at
1 February Transfers Gains/ 31 January
2024 Income Expenditure in/out (Losses) 2025
£ £ £ £ £ £
- -
321,857 264,111 (177,890) 408,078
-
Total of funds 1,436,584 552,220 (568,247) 212,794 1,633,351
Summary of funds
Summary of funds - current year
Balance at 1 Balance at
February Transfers Gains/ 31 January
2025 Income Expenditure in/out (Losses) 2026
£ £ £ £ £ £
Designated
funds 151,055 - (14,317) - - 136,738
General funds 1,074,218 316,368 (382,747) - 106,451 1,114,290
Restricted funds 408,078 269,006 (256,369) - - 420,715
-
1,633,351 585,374 (653,433) 106,451 1,671,743
Summary of funds - prior year
Balance at Balance at
1 February Transfers Gains/ 31 January
2024 Income Expenditure in/out (Losses) 2025
£ £ £ £ £ £
Designated
funds 173,049 - (17,317) (4,677) - 151,055
General funds 941,678 288,109 (373,040) 4,677 212,794 1,074,218
Restricted funds 321,857 264,111 (177,890) - - 408,078
-
1,436,584 552,220 (568,247) 212,794 1,633,351
**----- End of picture text -----**
## **19. Summary of funds** Page 29 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **20. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2026**
**Restricted**
**funds**
**2026**
**£**
**£**
Tangible fixed assets
10,434
-
Fixed asset investments
1,179,725
91,417
Current assets
82,044
329,298
Creditors due within one year
(21,175)
-
**Total**
1,251,028
420,715
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2025_
_Restricted_
_funds_
_2025_
_£_
_£_
Tangible fixed assets
_11,172_
_-_
Fixed asset investments
_1,149,351_
_-_
Current assets
_99,173_
_408,078_
Creditors due within one year
_(34,423)_
_-_
**Total**
_1,225,273_
_408,078_
**21.**
**Reconciliation of net movement in funds to net cash flow from operating activities**
**2026**
**£**
Net income for the year (as per Statement of Financial Activities)
**38,393**
**Adjustments for:**
Depreciation charges
**4,810**
Gains on investments
**(106,451)**
Dividends, interests and rents from investments
**(42,319)**
Decrease/(increase) in debtors
**17,681**
Decrease in creditors
**(13,248)**
**Net cash used in operating activities**
**(101,134)**|**Total**
**funds**
**2026**
**£**
**10,434**
**1,271,142**
**411,342**
**(21,175)**
**1,671,743**
_Total_
_funds_
_2025_
_£_
_11,172_
_1,149,351_
_507,251_
_(34,423)_
_1,633,351_
_2025_
_£_
_36,853_
_850_
_(52,881)_
_(53,880)_
_(11,158)_
_(21,339)_
_(101,555)_| |---|---| Page 30 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **22. Analysis of cash and cash equivalents** |Cash in hand
**Total cash and cash equivalents**|**2026**
**£**
**392,475**
**392,475**|_2025_
_£_
_470,973_| |---|---|---| |||_470,973_| ## **23. Analysis of changes in net debt** |Cash at bank and in hand|**At 1**
**February**
**2025**
**£**
**470,973**
**470,973**|**Cash flows**
**£**
**(78,228)**
**(78,228)**|**At 31**
**January**
**2026**
**£**
**392,745**
**392,745**| |---|---|---|---| ## **24. 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 £20,745 (2025: £20,762). Contributions totalling £1,888 (2025: £2,759) were outstanding at the balance sheet date. ## **25. Operating lease commitments** At 31 January 2026 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows: |Not later than 1 year
Later than 1 year and not later than 5 years|**2026**
**£**
**10,800**
**26,100**
**36,900**|_2025_
_£_
_11,563_
_36,900_| |---|---|---| |||_48,463_| The following lease payments have been recognised as an expense in the Statement of Financial Activities: ||**2026**|_2025_| |---|---|---| ||**£**|_£_| |Operating lease rentals|**11,563**|_11,563_| ||**-**|_-_| Page 31 **MISSION AFRICA (THE QUA IBOE FELLOWSHIP)** ## **(A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026** ## **26. Related party transactions** There were no related party transactions in the year. ## **27. 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. ## **28. Post balance sheet events** Council confirm that there have been no events since the balance sheet date which materially affect the financial statements. ## **29. Controlling party** The Charity is controlled by the Council members who are also Trustees and Directors of Mission Africa (The Qua Iboe Fellowship) for the purposes of Charity and Company law. Page 32