CAST MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations Charitable activities Other income 64,627 17,175 6,500 71,127 17,175 64,241 29,231 39 2,400 66,641 29,231 39 Total Income 81.802 6,500 88,302 93,511 2,400 95,911 Expendlture on: Charitable activilies 91,290 2,467 93,757 96,935 3,292 100,227 Total expenditure 91,290 2,467 93,757 96,935 3,292 100,227 Net Incomel(expendlture) and movement in funds (9,488) 4,033 (5,455) {3,424} (892) (4,316) Reconclllatlon of funds: Fund balances at 1 April 2023 33,961 4,117 38,078 37,385 5,009 42,394 Fund balances at 31 March 2024 24,473 8,150 32,623 33,961 4,117 38,078 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The notes on pages 8 to 15 form part of these financial statements. CAST MINISTRIES BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 12 18,253 26,560 Current assets Debtors Cash at bank and in hand 13 1,635 22,183 1.030 19,526 23,818 20,556 Creditors: amounts falling due withln one year 14 (9,448) {9,038) Net current assets 14,370 11,518 Total assets less current Ilabllltles 32,623 38,078 Net assets excluding penslon Ilablllty 32,623 38,078 The funds of the charlty Restricted income funds Unrestricted funds 15 8,150 24,473 4,117 33,961 32,623 38,078 The financial statements were approved by the Irustees on Mr T Carey Trustee Mrs B Dick Trustee CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty Information CAST Ministries is a charitable trust Gonstituted under a trust deed dated 31 st March 1999 which registered with The Charity Commission for Northern Ireland on 29th September 2016. The address of the principal office is given in the charity information on page 1 of these financial statements and is recognised as a charity. The principal activity of the trust is the formation and delivery of personal, social and faith development programmes for bolh formal and informal education contexts. The aim of the trust's work is lo equip participants with the life skills necessary to cultivate personal and relational responsibility that will enable Ihem to contribute to the well being of their community. The trust works actively lo instigate and promote peace building and is informed by an inclusive Christian ethos. 1.1 Accountlng convention The financial statements have been prepared in accordance with applicable accounting standards, Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of IrelarKI (FRS 102), the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK GenerallyAccepted Practice. The financial statements are prepared in sterling, which is the functional currency of Ihe charily. Monetary amounts in Ihese financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cosl convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial slalements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees conlinue lo adopt the going Goncern basis of accounling in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slatements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donation5 are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of Covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Icontlnued) 1.5 Expendlture 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 benefils will be required in settlement, and Ihe 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 dir￿1 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 Gonsistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on Ihe portion of the asset's use. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cosl or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings Computer equipment 33 1130/0 Straight line 33 1130/0 Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.7 Impalrment of fixed assets At each reporting end date, the charity reviews Ihe carrying amounts of its tangible assels to determine whether there is any indication thal those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalenls include cash in hand, deposils held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 1.9 Flnancial instruments The charity has elected lo apply the provisions of Section 11 'BasiG Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial inslruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounls and there is an intenlion to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtor5 and cash and bank balances, are initially measured at transaction price including transaction Gosls and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where Ihe transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) Basic financlal liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debl instruments are subsequently carried al amortised cost, using the effeclive interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one year or less. If not, they are presented as non-current liabilities. Trade Greditors are recognised initially at transaction price and subsequently measured at amortised cost using the effeclive interest method. Derecognition of flnancial liabilities Financial liabilities are derecognised when the charity's contractual obligation5 expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immedialely as an expense when the charily is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Critical accountlng estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimales and assumplions aboul the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual resulls may differ from these estimates. The 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 where the revision affects ¢Jnly thal period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations Unrestrlcted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts 64.627 6,500 71,127 64,241 2,400 66,641 10- CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 (Continued) Donatlons and gifts Ardbarron StAnne's Cathedral Capstone Corrie Trust Souter Trust Black Santa st James Place House ofVic-Ryn Other 13,000 13,000 23,000 850 1,000 250 23,000 850 1,000 250 2,400 1,000 150 4,000 880 1,000 150 4,000 880 2,500 4,000 45,597 2,400 2,500 4,000 45,597 39,141 39,141 64,627 6,500 71,127 64,241 2,400 66,641 Income from charitable actlvlties Unrestricted funds 2024 Unrestricted funds 2023 Charitable actlvlties Personal, social and faith development programmes 17,175 29,231 other Income Unrestrlcted Unrestricted funds funds 2024 2023 other income 39 11 CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitable activltles 2024 Charitable activitles 2023 Direct Costs staff Gosts Depreciation and impairment Establishment costs Production services Motor and travel expenses Resources Professional fees Other 33,307 2,467 7.480 33,354 3,292 6,970 7,197 3,351 2,837 1,020 7,406 2,254 2,680 959 5,530 54,677 65,427 Share of support and governance costs {see note 7) Support Governance 37,702 1,378 33,343 1,457 93,757 100,227 Analysls by fund Unreslricted funds Restricted funds 91,290 2,467 96,935 3,292 93,757 100,227 Support costs allocated to actlvltles 2024 2023 Depreciation Computer costs Other Governance costs 17,282 19,991 429 1.378 17,014 15,837 492 1,457 39,080 34,800 Analysed between: Charitable activities 39,080 34,800 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediting)'. Depreciation of owned tangible fixed assets 19,749 20,306 12- CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of Ihe trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Administrative staff Management staff Tolal Employment costs 2024 2023 Wages and salaries Social security costs 32,700 607 32,747 607 33,307 33,354 There were no employees whose annual remuneration was more than £60,000. 11 Transfers £Nil was transferred during the year (2023.. £Nill between the restricted and unrestricted funds. 12 Tanglble flxed assets Flxtures and flttlngs Computer equipment Total Cost At 1 April 2023 Additions 61,043 8,129 15,162 3,312 76,205 11,441 At 31 March 2024 69,172 18,474 87,646 DepreciatTon and impalrment At 1 April 2023 Depreciation charged in the year 41,602 14,275 8,042 5,474 49,644 19,749 At 31 March 2024 55,877 13,516 69,393 Carrylng amount At 31 March 2024 13,295 4,958 18,253 At 31 March 2023 19,441 7,119 26,560 13- CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Debtors 2024 2023 Amounts falling due wlthln one year: Other debtors 1,635 1,030 14 Creditors: amounts falling due wlthln one year 2024 2023 Other taxation and social security other credilors Accruals and deferred income 574 7,794 1,080 191 7,797 1,050 9,448 9,038 15 Restrlcted funds The restricted funds of the charity comprise Ihe unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 4,117 6,500 (2,4671 8,150 Previous year: At 1 Aprll 2022 Incomlng resources Resources At 31 March expended 2023 5,009 2,400 (3,292) 4,117 16 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not SLsbject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 General funds 33,961 81,802 {91,290) 24,473 14 CAST MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Unrestricted funds (Contlnuod) Prevlous year: At 1 April 2022 Incomlng resources Resources At 31 March expended 2023 General funds 37,385 93,511 (96,935) 33,961 17 Analysis of net assets between funds Unrestrlcted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assels Current assetsl(liabilities) 16,603 7,870 1,650 6,500 18,253 14,370 24,473 8,150 32,623 Unrestrlcted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assels Current assetsl(liabilities) 22,443 11,518 4,117 26,560 11,518 33,961 4,117 38,078 18 Related party transactions There were no disclosable related party transactions during the year (2023- none). 19 Contingent Ilablllty The charity has a contingent liability to repay grants received if Ihe Charity fails to comply with certain conditions slipulaled in the letter of offer and terms and conditions of contract under which the gt3nts were paid. The Iruslees do not expect any claims to be made in this respect. 15-