Rice Kitchen Ministries Trust Statement of Financial Activities for the Year Ended 31 December 2024 Unrestricted runds Total 2024 Note Income and Endowments from: Charitable activities 12,861 12,861 Total incorne 12,861 12.861 Expenditure on: Charitable activities (19.315) (19,315 Total expenditure 19,315) (19,315) Net expenditure (6.454) (6.454) Net movement in ndS (6,454) (6,454) Reconciliation of funds Total funds brought forward 18.560 18,560 Total funds carried fonvard 12,106 Unrestricted funds 12,106 Total 2023 Note Income and Endowments from: Charitable activities 19,418 19,418 Total income 19.418 19,418 Expenditure on: Charitable activities (13,319) (13,319) Total expenditure (13,319) (13.319) Net income 6,099 6,099 Net movement in funds 6.099 6,099 Rcconciliation of funds Total ndS brought forward 12,462 12,462 Total funds carried forward 18.561 18,561 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 202J is shown in note 8. The note5 on pages 7 I'o 13 form an integral part of these financial statements. Page 5
Rice Kitchen Ministries Trust (Registration number: 102268) Balance Shect as at 31 December 2024 2024 2023 Note Fixed assets Tangible assets 2,054 2,569 Current a55ets Debtors Cash at bank and in hand 528 11,045 395 16,417 11,573 16,812 Creditors: Amounts falling duc within one yeAr Nct current assets (1,521) (820) 10.052 15,992 Net assets 12,106 18.561 Funds of the charity.. Unrestricted income funds Unrestricted funds 12,106 18.561 Total funds I2,106 18,561 The financial statements on pages 5 to 13 were approved by the trustees, and authorised for issue on 29 August 2025 and signed on their behalf by.. S Greer Trustee V Greer Trustee The notes on pages 7 to 13 form an integral part of these financial statements. Page 6
Rice Kitchen Ministries Trust Notes to the Financial Statcments for the Ycar Ended 31 December 2024 l Accounting policies Statemcnt ofcompliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SOIU) (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008. Basis of prcparation Rice Kitchen Minislries Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless Othenvise stated in the relevant note(5) to these accounts. Income and endowments Expenditure All expenditure is recogni5ed once there is a legal or constructive obligation to that expenditure, it is probable settlement is requir¢d and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Wh¢re costs cannot be directly attributed io particular headings they have been allocated on a basis consistent with the use of resource5, With central staff COSt5 allocated on the basis of tim¢ spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Cliarilffble nclivilies Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for it5 beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Tangible fixed assets Individual fixed assets C05ting £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impainnent 105ses. Deprceiation and amortisation Depreciation is provided on tangible fixed assets 50 as to write off the cost or valuation, less any estimated r¢sidual value, over their expected useful economic life as follows: Asset clgss Furniture and equipment Deprcciation mcthod and rate 200/0 reducing balance basis Page 7
Rice Kitchen Ministries Trust Notes to the Financial Statements for thc Year Ended 31 December 2024 (continued) TrAde debtors Trade debtors are amounts due frotn customers for merchandise sold or services perforn]ed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at arnortised cost using the effective interest method, less provision for impairrnent. A provision for the impainnent of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original temis of the receivables. Cash gnd cash equivalents Cash and cash equivalents comprise cash on hand and call dep051ts, and other short-tern] highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income ndS are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Financial instruments Classificftlloii Financial assets and fLnancial liabilities are recognised when the charity becomes a party to the contractual provision5 of the instruTnent. Financial liabilities and equity instruments are clas5iFied according lo the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a resRdual interest in the assets of the charily after deducting all of its liabilities. Recogiii(ioii ftiid iiieasureineiil All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss. which are initially measured at fair value (which is nonnally the transaction price excluding transaction costs), unle55 the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction. the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a 5irnilar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when. and only when thei'e exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneously, Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset. or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 8
Rice Kitchen Ministries Trust Notes to the Financial Statements for the Year Ended 31 Dccember 2024 (continued) DerivaÉlvefinanciffl iiislrunieiils The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial in5trurnents for speculative purposes. Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedg¢ relationship. Falr vftliie measureinenl The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 2 Income from charitable activities Unrestricted funds General Total 2024 Total 2023 Donations 12,861 12.861 19.418 Page 9
Rice Kitchen Ministries Trust Notes to the Financial Statemcnts for the Year nded 31 December 2024 (continued) 3 Ekpenditure on charitable activities Unrestricted funds General Total 2024 Total 2023 Ministerial expenses Heat and light Insurance Repairs Motor expenses Accountancy Bank charges Depreciation Telephone, printing, postage and stationery Travel and subsistencc Water Rate5 5,736 1,134 I,321 5.736 1,134 1,321 8.057 467 679 327 1,357 676 174 642 713 2,374 721 97 514 598 6,576 244 2,374 721 97 514 598 6,576 244 176 19.315 19,315 13,268 £19,315 (2023 £13,268) of the above expenditure was attributable to unrestricted funds and £Nil (2023 £Nil) to restricted nds. 4 Trustees remuneration and expens¢s No trustees, nor any per50n5 connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Page 10
Ricc Kitchen Ministrles Trust Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 5 Tangible fixed assets Furniture and equipment Total CDSt At l January 2024 5.018 5.018 At 31 Dec¢mber 2024 5,018 5,018 Depreciation At l January 2024 Charge for the year At 31 December 2024 2,450 514 2,450 514 2,964 2,964 Net book value At 31 December 2024 2,054 2,054 At 31 December 2023 2,568 2.568 6 Cash and cash equivalents 2024 2023 Cash at bank 11.045 16,417 7 Creditors: amounts falling due within onc year 2024 2023 Accruals 1,521 820 Page 11
Rice Kitchen Ministries Trust Notes to thc Financial Statements for the Year Ended 31 Deccmber 2024 (continued) 8 Funds Balancc at 31 December 2024 Balance at I January 2024 Incoming resources Resources expended Unrestricted funds General 18,560 12.861 (19,315) 12,106 Balance at 31 Dccember 2023 Balanee at I January 2023 Incoming resources Resources cxpended Unrestrictcd funds Geiierlll General 12,462 19,418 (13.319) 18,561 9 Analysis of net a5set5 betiveen funds Unrestricted funds General Total funds St 31 Dcccmber 2024 Tangible fixed assets Current assets Current liabilities 2,054 11,573 (1,521) 12,106 2,054 11,573 (1,521) Total net assets 12,106 Unrestricted funds Gencral Total funds at 31 Dcccmber 2023 Tangible fixed assets Current assets Current liabilitie5 2,569 l6.812 (820) 2.569 l6.812 (820) Total net assets 18,561 18,561 Page 12
Rice Kitchen Ministries Trust Notes to the Financial Statements for the Ycar Ended 31 December 2024 (continued) 10 Analysis of nct funds At31 December 2024 At l January 2024 Financing cash flows Cash at bank and in hand 16,417 5,372) 11,045 Net debt 16,417 {5.372) 11,045 At31 December 2023 At l January 2023 Financing cash flow5 Cash at bank and in hand 9,935 6,482 16.417 Net debt 9,935 6.482 16,417 Page 13