COMPASSION MINISTRIES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED TO 31st AUGUST 2023 Company Registration Number- N1603810 Charities RtgistratioD Number: NIC102161
COMPASSION MINISTRIES ST ANNUAL REPORT AND FINAiYCIAL STATEIVIENTS FOR THE YEAR ENDED 31 AUGUST 2023 CONTENTS Pages Report of the TrusteBS Independent Examin¢r'5 Report Statement of Financial Activities (incorporating in¢ome and expenditur¢ a¢¢ouM) Stat¢ment tsf Finall¢ial PositionlBalance Sheet Cash Flow Statemtnt Notes to the financial statements 10-16
COMPASSION MINISTIUES REPORT OF THE DIREcfoRS {INCORPORA T1Tr4G TRUSTEES, REPORT) The Directors (tho are also the trustees) are pleased to present their annual report together with tht finatscial statements of the charity for the year ended 315t August 2023, which are prepared to tet the reguirttlltnts for a directors 'r¢port and accounts for Companies Act purposes. The directors have adopted the provisions of the Comparnies A¢1 2006 and Accountit)g and Reporting by Charities.. Staterllent of Recomn]ended Practtce applicable to cliarities preparig accounts in ac¢ordan¢e with the FinanciaE Reporting Standard applicable in the UK aud Republic of Ereland (Charities SORP- FRS102), in preparing the annual report and finan¢ial stat¢m¢ttts ofth¢ ¢harity. Achievements and performance The vision of Compassion Ministries ES 'to see many people walk on a journey of discipleshEp as they discover thEir ]x)tential in God. We PToYidc sUPPOrtto those m05t in n¢ed by signposting to relevant support 5¢fviGe5. pro510 of voluntary opportunitl¢5 and providing a ¢onne¢tion to tbe wider support of the local ¢hurch. During the last 12 fftonth5 we ha foGU5Ed on up5killing existing volunteers and staff to support and 51Tengthen th6 futu[£ project plans of Compassion ministries. Examples include linkin8 in with Mercy Ministries to understand the tll05t suitable progrdtnmes to adopt within the local church environment. Prov£ding specialist coachKng to those from PBNI via Compassion Compass Coaching. Continuing to support those with addictions get specialist care whilst also rnaintaining a safe home envrontr]¢nt to T¢tun] ba¢k to following completion of programm6s. Cotllpassion rninistrie5 ha5 a15D funded resourcing costs of Connect Ministries to ensure the level of Commullity care diKipleship 15 aailable to meet the lletd. All of this contributes to makin¥ a huge difference in the lives of many individuals, helping them break free fro addiction, hoptlessntgs and hannful life patterns to fjnd ntw dirtttiott and purpose. We continu¢ to work Closely with "Connect Ministries aDd Gr¢ert Pastures. The People's Church" to deliver on the vision and mission of this ¢harity as we seek to support individuals on their journeys to htspe and restoration. FiantiaI revaew and fLtDds policy During the year the Charity had total income of £148,427 a[ total txpenditure of £110,017 rtsulting in a net surplus of £38,410. The net surplus fi)r tb¢ Ye as shown in th¢ statement of fjnahrial activities on pag¢ 7 has be¢n transferred to the compally's fL]llds alld has resiilted in an increase in total Charity funds from £E,304,539 to £1,342,949. Details of the financial position of the Charity at the year-end can be seen on page 8. At the tnd of the year the Charitr had £2,666 cash at bank. It is the aim of the Tntte5, if possible, to maintain an unrE5tricted c85h resffi'e equivalent to that of two InDnths ¢xpenditur¢. The company plans to continue and expand its activities in the forthcoming years. Objectives 2nd Activitie5 how thry deliver public benefjt) Purpos¢ I Purpose.. To advance thc ChT15tian faith in accordance the Statement of Beliefs in such ways and ill such parts Df the United Killgdon] or the world as the Trustees from time to time thillk fit. OpcR to all of fhe publi¢ in Northern Ireland. A¢cess io publi¢ worship A¢c¢ss to religious publiGation5 illGluding5aGi£dtexts and literature Access to religious training and discipleship programines. ljnproved behaviour as ar¢sult of being involved in a publiG of worship and discipleship proc¢ss. Brnefi¢iarie5'. How ih¢y benefit". How the benefits be d¢moH5trated..
COMPASSION MINISTRIES REPORT OF TH£ DIRECTORS (conti11d) Objectives ACtitIeS (And how they deliver publi¢ l)enefit) Purpose 2 Pllrpose". To relieve sEcknes5 and financial hardship and to promote and PEeserve good health by the provision of goods or 5etViGes of any kind. Including through the provision Df Gounselling and support in such parts of the United Kingdom or the world as the Trustees frorn tin]e to tirne may think fit. Open lo all of the public in Northettl Ireland. Promot¢ healthy eaung and lifestyles. Access to m¢ntoring and support. B¢nefiGiariEs'. How they benefit.. How thE benefits can b6 de]non5tr3ted.. Jtnproved hta]th and lifestyles support. Atttvttles The chlty,S ItiaiIi activities are described wi¢hin the achievements and performance section of the Directorg. Report. Volunteers The Trust¢e5 wish to acknowledge their deep appreciation of those who give freely oftheir time by serving on committees attd helping with OTganisations 2nd other church activities. Reference and administrative detai15 Registered Charity Wdme.. Compassion Ministries CharEty Commission regsstratioll numbeT'. NIC102161 HMRC charity reference.. XT1818i Company registration number.. Principle office and registered offjce.. N1603810 CIO GTBett PastUTes, The People's Church l Faith Avenue The Gateway Bajlymena County AntrsnL BT42 3FF Direttors 2nd Trustees of the Company The diTec¢ors who held orrice dunng the year, and In the p¢Tiod since 31 August 2023 to the date of the5E accounts were &pproved, were as follows.. Mt RobErt Ksng51on {appDitLl¢d 8, February 20231 Mrs S&ra Stephens MT Jeffrey Wright
COMPASSION IVIINISTRIES REPORT OF THE DIRECTORS {coAlinued) Structurey gOver[LaCe and fflall#g¢thent The Company is a charity limited by guarnnt¢¢ without sh capital which avails Df the"Limited" exemption. The COpattY is governed by Its Memorandum and Articles of As50ciatlOll dated 19 July 2010. In the event of the Company beIng wound up mtmbers arc reqred to contribute an arnDUllt not exrEeding £1. The Board is Fcsponsiblc for the OV¢Tall gOvernCe of the Company with the day-to-day management havig been delegated by the Board ID r¢sponsible individuals. TruststslDirectors are appointed in Jine with the Memorandum & Articles of AssociatioD of the company. Tht Board of Director5 are also known as Trustees for th¢ purposes of the Charity Commission. The Tru5te¢5 have had regard to the Charity Comtnission's Public Benefit requitrtnrnt. Risk management The directots have conducted a review of the rnajor risks tD which the charity is exposed. Financial risk is reviBwed on a monthly basis having due regard to ongoing illcome and expenses. Statement of dlro¢tors' responslbllities The director5 (who are the trustees of comps1on Ministries) are responsible for preparing the directors 'report and the financial statements ill accordance with applicable law and regulation5. Company lawrequires the directors io prepare fjnancial sthiements foreach finan¢i&l period. Underthai law the direetors have pPared the financi statemenls in accordance with United Ktngdom Generally Accepted Accounting Practice (United Kingdoni AccouT]ting Standards attd applicable lawl. Under Company law the directOTS niust not approve the finallcial statements unless they 8r¢ satisfied that they give a true and fair view of the State of affairs of the charitable GOTnpany ad of th¢ inGoming TcsouIGes and application of r¢sourc¢s, including income expcnditurt for that ptriod. In preparing these financal statements, the directors are required to.. select suitable accounling policies and &pply thern collsistently. obs¢Tve the tnethod5 and Principles in the ChaDties SOIiP-FRSIO2- make judgemenis and accounting estimates that are reasonable and prndent,. stste whether applicable accounting stalldards have been followed, subject to any material departures disclosed and explained in the fillanci statement- and ppar¢thE fin0]&7 staternentsonthc going Goncem basis unless it is inappropriate to PTesurne thatthe Gornpany will ¢ontinue in business. The directors are responsible forkeeping adequate accountingrecordsthat are suffi¢ien(to showand explain the charilable cornpany's tran5aotioll5 and disclose with rE&50nable accuracy at any timt the financialpositEOll of the charttable COTnpany and enable them io ensure rbat ihe financtal st&tements ctsn)ply with the Cornpanies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other Erregulantie5. Funds held as ellstodiatt trustee on behalf of others Tbe GhaTity does not hold any funds on behaIf o>f others.
COMPASSION MtNISTRIES REPORT OF THE DIRECTORS (conltnued) Srnall COTnpanies pTr)vi5iOll 5tatellLent This report has been prepared in aGcordanG¢ with the sp¢¢ial piovisiorL5 rclating io Comp1¢$ subject to the small cornpallies regiEne within Part 15 ofthe Companies Act 2006. Approved by the Board on 23, April 2024 and signed on its behalf by.. Mrs Sara Stephens Truske
INDEPENDENT EXAMINER)S REPORT TO THE TRUSTEES OF COMPASSIOPI MINISTRIES I report on the accounts for the year ended 3 1st August 2023 which are set out on pages 7 to 16. Respective responsibilities of trustees And examiner The charity's trustees are responsible for the preparation of the a¢¢ounts, Th¢ ¢haTity's tru5te¢s Gonsider that an audit 15 not reqU£d ftsr this period nder sectioTr 65(2} of the Charities Act (North¢rn Ir¢laRd} 2008 (a5 atnended) and that an indepelldent examination (s needed, It És my respoRsibiiity to.. Examine the accounts undeT sectioll 65131 of the 2008 Act., to follow the procedures laid do1 ill th¢ general Directions given by the Charity Commission under se¢tAon 65(9)Ib) of tbe 2008 Act; and to state whetber particular Matte have c4)me to my attention Basis of iThdepetLdent exAminer'5 report J have examined your charity awounts as required under scction 65 of ihe Charities Act and rny examination was carried out ill &Crd8Ce with the general Directions given by the Chartty Commission foi Northtm lieland undEr sectlDTi 65(9)Ib) of the Charities Act. My examillation included a review of the accounting records ktpt by the charity and a COTnpan5on of the accounts presented with those records. It also included considtratlDn of any unusual iterns OT disclosures in the accounts. alld seeking explanations from you charity trustees conccrning any such Tnatters. My role is to state whtther atty materi21 rnatters have CDtne to my attention giving me cause to believe.. That accounting records weTe not kepl in accord¢¢ with section 61 of the Charities Act 2. That the CDUnt5 do acEord wth those acCoUntg records That the aCCDUllts do not COTnply with the account2Ng requsrements of the Charittes Act That there Is further infoTmation needed foT a proper undstanding of the accounts to be reached. Independent examifjer's $tate)nent I have completed my examination and have llo concerns tn r¢spe¢t ofthe atters(l) to (4) listed above and. ill connection th folloM'in8 the Directions of the Charity Commission foi NorthErn Ireland, I have found no matters that require draivittg to yow attention. • S¥_- Petèr Stevehso Metnber ofthe Institute of ChartÈrÈd Aetollnt2nts In Irelad Stevenson and Wilson 22-30 Broadway Avenue Ballymena BT43 7AA 23rd Aprtl 2024
COMPASSION IklINISTRIES STATEMENT OFFifiA.NCIAL ACTMTtES INCORPORATINGINCOIME AND EXPELYDrruRE Accouiyr FOR THE YEARENDED 31ST AUGUST 2022 Unrtricted Funds 2023 Restricted Fullds 2023 Total 2023 Totsl 2022 Note Incoming resOUeS Donations rectived Investrnent incoffte 3,425 7,760 137242 11,185 137,242 80,598 68,030 Total inco]ne 3,425 145,002 148,427 148.628 Resourcts exptThdcd Charitable activities Support Costs Govemance Costs 805 141,065 4,500 17J91 2,7011 89,926 107J17 2,700 Total expenditure 20,091 89,926 110,017 146,370 Net surplllsl(dÈfJtit) fOre transfers (16,666) 55,076 38,410 2,258 Transfers between fund$ I J60,668 (I?60,668) N¢t movejllent in funds 1?44,002 IID05,592) 38,410 2.258 Recunciliation of fuThds: Totsi funds brought forward (1.053) 1,305,592 1,304,539 1,302,281 Total funds carried forward l J42,949 l J42,949 1.304,5J9 The statement of financial activiiies includes all gains and losses recognised In the period. All income and expenditure derives from Continuing activities. The noieson pages 10 to 16 form part ofthese fin&Acial staternents
COMPASSIOF4 MINISTRIES grATEMENT OF FINANCIAL POSITION I BALANCE SHEET AS AT 31ST AUGUST 2023 (Compally regi5trdtion number.. N1603810) 2023 2022 Note Fixed assets Tangible fixed assets 1,958,352 1.958,352 1,955.288 1,955,288 Current &ssets Debtors Cash at bank io 16,163 2,666 18,829 750 4,238 4,988 Creditors: omoun15 due within one year (124J04) 1102,985) Net current liabilities 1106,075} (97,997) Total 8sset$ le$s eurrent li9bilitie$ 1.852,277 1.857,291 Creditor5: aEnounts due after ollt yur 12 {509J28) 1552,752) Totsl net assets 13 lJ42,949 1.304.539 Unrestricttd lunds Gelleral filnds Tot41 YrtrACted fund$ 14 lJ42,949 J J42.949 11,053) (1,053) Restricted fund5 14 1.305.592 Total cbarity funds lJ42,949 1,304,539 The financial statements have been prepared in accordance Thryth the provisions &pplic8ble to companies subject to the small companies. rBgime under Tht Companies Act ?006 and with Charities SORP-FRS102. The note5 on pages 10 to 16 Entegral part of these finanGÉal statetnents. The fjnanctal statements on pages 7 t¢1 16 were approvtd by the B02rd of Trnstees on 23td April 2024 atid signed oll its behalf by". Mrs Sara Stephens Trustee Mr Robert Kingston Trustee Tht llotes on pages 10 to 16 form psrt of these fin2ncial slatemet
COMPASSION MINISTRIES CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2023 2023 2022 Cash l]oiv fTOrn operdting activities Net incoming resources b¢ttsr¢ Enttie5t re¢eiv¢d Depi¢¢iation In¢reas¢ ID debtor5 1Ca5¢1[decr¢Se) in credito Net Cash inl]ow from incominglloutgoing) re$ource$ 38AIO 11,862 (15,413} 16288 51.147 2,251 18,639 (7,3011 13,589 Capitsl Expenditure and fjnanei#l investment Purchase of tsngible fixed SetS Net cash olltflow frDln Capltal financial investment {14,926) (14.926) Return5 on investments and servicing of frnance Interest re¢eived Fing]Jcing adivities Capital repa)Thent of bank loalls Capital repayment of hire purChe (36.669) (1.124) 136,052) 13,261} Cash outnow from 137,793) 139,313) Net decrease in cash for the year (1,572} {25,717) Cagh and cash eqllivalents at the begitthing of the ytar 4238 29,955 Cash aud e#$h equivalent at the end of the year 2.666 4,238 'the notes on pages 10 to 16 form part of these fthancial $tthmets
COMPASSION MINISTRIES NOTES TO THE FINANCIAL STATKMENTS FOR THE YEAR ETrIDED 31st AUGUST 2023 l. CollLPally iThforJnation Thc Company is limited by guarantee and Is incotporated In NortFLern Ir¢land. The addTE55 of the r¢gi5tered office is CIO Green Pastures, The People's Church, l Faith A venue, The G&t¢way, Ballymena, Co Anirim B T42 3FF. The fi]MJ¢ial statements were authorised for issue by th¢ Board on 23, April 2024. 2. Aeeollnting policies Tht principal accounting policies adopted, judgernents and key g)ur¢es of ¢stimation uncertainly ill th¢ preparation of the financi statements are as follows.. Basis of preparatio The fjnancial statements have been prepared on a goittg coneern basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended PraCtce applicable to charities preparing their ac¢ounts ir wordan¢e with the FIDancial Reporting Standard applicable in the UK alld Republi¢ of Ireland (FRS 102)- (Charities SORP (FRS 102)), the Finan¢iaJ Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) alld the CopanIcS Act 2006. The accounts are prepared ill Sterling. which is the functional currellcy of the charity. The Cotllpany meets the definition of a publEc benefit entity under FRS 102. Assets and liabilities are initially rscognistd at historical cost and transaction valu£ unless otherwise stated in (ht relev2nt accountittg policy notels). Preparation of ¥ccounts a going conEern b8SIS The Company generally meets its dayto day working capital requiremellts from its anttual inwme. The TrusTees have obtained and reN'iewed cash flow forecasts for the coming }'ear and based these are satisfied that the Company has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for th¢ fores¢eabl¢ futur¢. These financial siatem¢nts hav¢ thercfore been prEpared a going ls. IncoTt]iTrg resources Donations received coniprises all cash receivable for the accounting year, including anv related tax recover2ble under Gift Aid. Income is recoEnised M,hen the Charity has established an entitlement to the in¢ome. For d()nations this is typically upon receipt. Gift aid income is &ccrued in respect of charitable donations already receipied. Re50urtes expended Resour¢es expended are recognis¢d in the year in whiGh they are inGurred. Charitable expenditure ¢omprises those costs in¢urred by the ¢haTity ill the delivery of its activities and services to its benefi¢iaries. It includ¢5 both costs that can be allocated directly to such activities and those costs of an indirEct llaiure eC¢5Wy to support them. Tangible assets The tangible assets of the charity cornprise of land and buildings along with plant and equipment and a Jntstor vdiiclt. No depreciation is charged on freehold property where the property does not suffer any diminution of value over the period of its useful life. Equipment and fittings are depre¢iat¢d at & rat¢ c&lGul&trd to reduce it to rc5idual valu¢ at th¢ end of ils expected nonnal life on a straight-line basis at a rate of 15ts/D Ptr a[U. Motor vehicles are depreciat¢d at a rate calcuated to rcduc¢ it to residual valu6 at ihe end of its expected nornial life oll a straight-line basis at a rate of 250/ts per aiinum. The assets, residu&l values and useful lives are reviewt(L and adjusted, if appropnate, at thE end of tach reporting period. The effect of ally change is accounted for prospectively. Tangible assets are derecognised on disposal or when no futur¢ econoTnic benefits aT¢ eXP¢Gted. On distK)5al. th difference between the llew disposal proceeds 2nd the carrying aD]OUllt is recognised ill the statement of finallcEal activities and included in"rharil&bl¢ activity Expenditure" io
COMPASSION MINISTRIES NOTES TO THE FINANCIAL STATEMENfs (contimued) 2. AccouTrtiAg policAe5 (conlinued) Short-term debtors and creditors D¢btors and credsrors 1th no stated int¢r¢si rate and ieceivable or payabls within one year are IEcordcd attraR5action price. Financial assets, inGluding debtOTS, are reTriewed at the rEportEllg date to dettrmine if there is ally evidence of potential itnp&irtnent. ATry losses arisitL8 from impairnient are recO)iStd in thc income statement in operating eXpe¢s. Cg8h gnd tash equivalents Cash and cash equivalents include cash in hand and c&sh &t bank. BorrowiTJgs Interest-bearing boTTOWtDg5 are Initially recoTded al fair value. net of transaction costs. Intere5t-bearing borrowqngs are subsequently carried at amortised cost, with the difference betweeth the proceeds, ttet of tra1CtIOn costg, and th amount due on redempiion being recogillsed as & charge to the profit and loss a¢¢ouDt over tbe period of the relevmt boowing. Tnterest expense is re¢ognised on the basis tsf the effective interest method and is included ill interest payable alld similar charges. BorrowTrng5 are cla55ifi¢d as current liabilitl¢5 unless the Compally has an unconditional right to defer settlement of th¢ liability for at least twelve n]onth5 afier the reporting date, or if the likelihood of earlier settlement is remote. Hire purehgS¢ Assets held under hire purchase agreErnents are capitalised to tangible fixed assets and are depreciated overthe shorter of the lease temi and their useful lives. The capital element of future fjnance payments is included wjthin crBditDT5. Finance charges are allocated to accounting periods overthe Ittsgth of thE ctsnlTaci and rtrpresBlIt a Bonstant proportion of the balance of capital rtpayments outstanding. Financial iThstrumellts The COpanY only has fjnancial assets and financial liabilities of a kAnd that qualify as basi¢ financial ittstruments. Basic financial instruments are initially re¢ognised at transa¢tion price &nd sub5cquently rn¢a5ur¢d at theLI 5ctt]ement Value. Fund5 Fullds are ClSIfied as either unrestricted funds or restrtcted funds. defined as follows. Unrestr5Cted funds are expendable at the discretion of the trustees itt furtherance of the objects ofthe charity. If psrts of the vnrestricted funds are vdrniarked at the discretion tsf the trustee5 for a particular purwse, they are designated as a separate fLfftd. This de5Egnation has all adrninistrative purpose only attd does noi legally restrict the trnstees, discretion to apply the fid. Restricted funds are fi]nds subject to specific requirements as to their us¢ which may be de¢lared by the donoror with their authority or created through legal processes, but still within the wider objeGt5 of th¢ Coinpany. The initid acquisition of tangible fix¢d assets fund¢d through an appeal or by of donat10115 are treated a5 restricted funds. Where the t¢rms of the gift pemit the Trust¢t5 to Use the asset on an unrtstricled basis for any chaTitablE putpose, a iransfer is made from resiri¢t¢d to uftrestri¢ted fiJnd5. Pensions The Charity operates a defined ctsntributLOII 5chEme for all staff. ErnployeT CDntributions are charged thTough the income and expenditure account when incurred.
COMPASSION MtNISTRIES NOTES TO THE FINANCIAL STATEM£NTS (conlinued) 3. Critical accounting judgements estimation uneert*inty Estimates and judgnents made in the process of preparing the financial statements are ¢ontinuaily eva]uated alld are bed oll historical experience and other factors, ineluding expeGtations of fiJtuT¢ events that are believed to be reasonable under the circum$tan¢e5. The Trustees do not consider that there are any critical judgments made in applying the CDinpany'5 accounting polici¢5 or that there are any critical accounting estin)ates or assumptions whieh may have a significant risk of causing a mY4terial adjustment tt) ¢arrying amounts of ass¢ts and liabilities within th¢ ntxt financial vÈar. 4. IncoTning re50urce5 Unrestricted Funds 2023 RestrStted Fullds 2023 Total 2023 Totsl 2022 Don#tioffis reeeived From 80¢ated char&ties From associated companies From individuals and corporat¢ bodies 60 3,211b 3,270 64,582 6,050 9,966 80,598 4,550 7,760 7,915 11,185 3,425 Invest]Dent income Renta] inc0e Bank inteTest re¢¢iv¢d 137.242 137,242 68,023 137.242 137,242 68.030 Total income 3,425 145,002 148.427 148,628 S. Resources expended Unre5tritted Fund5 2023 Restricted Fund5 2023 Total 2023 Total 2022 Charitable #¢tivitie5 Charitable donations 805 Support costs Wages and salaries Property costs Administration costs Depre¢iatio Other expenses 53,306 16.687 19.279 18,639 3i.154 141.065 302 5,774 3,231 8.084 17J91 22.397 2,789 8,631 56,109 89,926 22.699 11.862 64.193 107,3J7 Governance Costs Legal and professional fees 2,700 2,700 4.500 Total expenditllre 20.091 89,926 110,017 146.370 12
COMPASSION MINISTRIES NOTES TO THE FINANCIAL STATEMENfs (continued) 6. Transfer of fuuds Uxjrestritted funds are SPEtIt OT appljed at the disEretion of the trustte5 to further any of the charity'5 purposes. Uest[i¢ted funds can be used to supplement expenditure tllade from restrictcd fvnds. The investmellt property constructed by the Company was funded through spe¢ific donations and fundraisers, and as such. was held in a restricted fund. The ternis of the gifts plac¢ no r¢quirernent for th¢ Charity to hold thE property for a specific PLllyose on an on-going basis. Following completion of the property. the Trusttei consider that the t¢nns of the gifts have been met, end therefore the Charity 15 pem]itted to use the asset on an Ejnreskncted basis for any cbaTitsble purpose. 7. Taxation Compassion Ministries is r¢¢ognised as a ¢harity for the putP05es of applic&ble tax&tioll legislation and is therefore Dt 5ubjEctto taxation on it5 charitsblc tivitIeS. 8. An4lysis of $t#ff Costs, trustee remMner#tl(bD and expen5e5. and the cost of key man%gement personnel 2023 2022 Salaries and wages National in5urallce cost5 Employer pension contrabutions 48,277 4,002 1,027 53,306 The avcrage nuEnber of employees during the year was O (2022.. 3). Thcre wcre no employees art in rEcEipt of employee benefjts in excess of £30,000. No trustet or a pergon rElated to a tTU5tee had any personal Interest in any contract or transaction entered into by the charity during the year. There was no remuneration pd to Trustee5 I the year ended JI al August 2023. No expenses wert incurred in respect of Trustee5. 9. Tangible fixed assets Inwestment property Equipment 4nd fittings Motor vehiele Tota Cost At K. September 2022 Additions Disposals 1,931,552 14,926 121.198 13,105 2,065.855 14.926 {13.105) At 3 1st AuEUSt 2023 1.946.478 121,198 2,067,676 Depreciatio At 1° Septemb¢r 2022 Depreciation Di5P05als 97,462 11,862 13,105 110,567 11,862 (13,1051 11).105) At 31° August 2023 109,324 109J24 Net bookvalue at 31" AguSt 2023 Net book value at 31. AgL 2022 1.946.478 1.931 452 11,874 23,736 1,958J52 1,955,?88
COMPASSION MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (continued) 10. Debtors 2023 2022 Rent receivable Other debtors 15,413 750 750 16,163 750 I l. Creditors: amollllts due within Dlle year 2023 2022 Bank loan Hire purchase Other ¢reditors Accruals Amount due to sOciated chaTities 43234 36.479 1.124 16,792 4,359 44.231 15.543 8.721 57,406 124,904 102,985 The batfft loan is S¢CUTed by a ohge over the Company's property. The loans from &ssoc2ated charities &re unsecured, non-IntErest beanng and are repayable dEIFiatid. 12.Creditors: amouDts due gfter oDe yegr 2023 2022 BaTJk loan 509.328 552.752 509,328 552,752 The bank loan is se¢ured by a ¢harg¢ overthe Company's property and is estimated to be dut forrepayment as follows.. 2023 2022 Between onc and two year5 Betwe¢n tw(1 and five yea After fivt years 40,567 134,584 334,177 38,345 174,029 340,378 509328 552,752 14
corrfpASSION MtNISTRIES NOTES TO THE FINANCIAL STATEMENTS (coAtihued) 13. ARalysi5 of llet a55ets Unrestricted GeJJerAI Restriet¢d Total Fixed assets Net current liabilities Creditors due ther ofte year 1,958,352 1106,075) 1509.328) 1,958,i52 1106,075) (509,328) Net asset8 at 31" Augllst 2023 1,342,949 lJ42,949 14. Funds of the Company Atl SepteEnber At31 AUgst 2023 2022 lucome ExptDditurt TraSfer5 Restricted funds 1,305.592 1,305.592 145,IX>2 145,002 189,926) 189,926} (1,360.6681 (1,360,668) Unrestrided fund$ GEneral fund (1,0531 (1.0531 3.425 3,425 120,091) 120,0911 1.360,668 1.360.668 1.342,949 1.342.949 Total fund5 I J04.539 148,427 1110,017) l J42,949 OS¢5 of i¢stricted fldS These fidS att to bc ud towards the support of the Gharitable work of the individual tninistries within the Ch[tY. 15. Fin&neial instruments At the balance sheet date the Company held th¢ following fman¢ia] inStru¢t$-. 2023 2022 Financial assets that are debt instrnments measured at amortised cost 18,829 625,511 4,988 651,378 Finatscial litsbilities rneasured at amortised c05t
COMPASSION MINISTRIES NOTES TO THE FtNANCIAL STATEMENTS (cOntined) 16. Related party tran5aetion3 2023 2022 Intluded in Intolg resources are the following= Donation from &ssociated charity, Green Ptres, Tht People's Church Re-imbursement of expttnses associated charity. GrEen Pastures, The Peoplt's Church Donation froTn assDciated Charity, Conuect Ministries Re-ITnbursemeDt of exp¢nses from assDciated charity, Connect Ministries RE-iTnbursemeDt of ¢xpen5C5 fiom a5SDGiated compally, The Gateway Social Investment Limited 923 1,138 53,000 9,521 1,170 2,100 6.050 Ineluded iu resource5 expended is the following: Donation to associated charity, Ctsnne¢t Ministrit5 700 Included in tredltors due withijj one yeAr is the following: Amount owed to associated charity, Green PaStleS, The People's Chur¢h Amount owed to associated charity, Connect Ministries 35.los 22.300 44.231 All of the above companies are related by virtue of common control. No payments were made to any of the TnteeS during the y¢ar. 17. Capital and fianCial cornlnitments The ¢ompany had no capital or fitlancial commitments at the balance sheet date12022.. £Nil). 18. Controlling party During the y Compassion Ministiies was under the control of the Trustees {who are also the direct()rs). 16