Cherith Gospel Outreach Trust
Statement of Financial Activities
Year ended 31 December 2024
Unrestricted
Funds
2024
Restrlcted
Funds
2024
Total
2024
Total
2023
Note
Income and endowments
from;
Donations & legacies
7,488
7,363
Charitable activities
3,334
7,000
Total Income and
endowments
7,488
3,334
10,822
14,363
Expenditure on:
Charitable activities
5,848
3,334
9,182
14,909
Total Expenditure
5,848
3,334
9,182
14,909
Net Income/(Expenditure)
1,640
1,640
(5461
Reconciliation of funds:
Total funds brought forward
10,056
10,056
10,602
Total funds carried fonvard
11,696
11,696
10,056
All income and expenditure derive from continuing activities.
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Cherith Gospel Outreach Trust
Balance Sheet
As at 31 December 2024
Note
2024
2023
Fixed Assets
Tangible assets
Current Assets
Cash at bank and in hand
12,536
10,896
12,536
10,896
Credltors: amounts falling due within one year
840
840
Net Current Assets
11,696
10,056
Net Assets
11,696
10,056
Charlty Funds
Unrestricted funds
11,696
10,056
Total charlty funds
11,696
10,056
These financial statements were approved and authorised for issue by the Trustees on ........
on its behalf by
. and signed
Donald Coulter
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Cherith Gospel Outreach Trust
Notes to the financial statements
Year ended 31 December 2024
Summary of slgnlficant accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are as follows:
a) General Information and basis of preparation
Cherith Gospel Outreach Trust, is a charity which registered with The Charity Commission for Northern Ireland on
th
12 January 2016. The public address is 14 Clonroot Road, Portadown BT62 4HG. The nature of the charity's
operations and principal activities are the printing and distribution of Christian literature.
th
Cherith Gospel Outreach Trust, a charitable trust 15 constituted under a trust deed dated 17 December 2015.
Cherith Gospel Outreach Trust constitutes a public benefit entity as defined by FRS 102.
Statement of Com
liance
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), the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland)
2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generally Accepted
Practice as it applies from l January 2015.
The financial statements have been prepared on the going concern basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in sterling which is the
functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.
b) Preparatlon of accounts on a going concern basis
The charity generally meets its day to day working capital requirement5 from its annual income. The Trustees
have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the
charity has resources to provide a reasonable expectation that it can continue to meet its financial obligations as
they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going
concern basis.
c) Funds
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or
with their authority or created through legal processes, but still within the wider objects of the charity.
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Cherith Gospel Outreach Trust
Notes to the financial statements (continued)
Year ended 31 December 2024
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the object5 of the charity. If
parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are
designated a5 a separate fund. This designation has an administrative purpose only and does not legally restrict
the trustees, discretion to apply the fund.
e) Critical accountlng Judgements and estimation uncertainty
Estimates and judgments made in the process of preparing the financial statements are continually evaluated and
are based on historical experience and other factors, including expectations of future events that are believed to
be reasonable under the circumstances. The Trustees do not consider that there are any critical judgments made
in applying the charity'5 accounting policies or that there are any critical accounting estimate5 or assumptions
which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities
within the next financial year.
2. Donations and legacies
Unrestrlcted
Funds
2024
Restricted
Funds
2024
Total
2024
Total
2023
Donations
7,488
7,488
7,363
7,488
7,488
7,363
3. Charltable actlvltles
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
2024
Total
2023
Grants
3,334
3,334
7,000
Sale of publications
3,334
3,334
7,000
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Cherith Gospel Outreach Trust
Notes to the financial statements (continued)
Year ended 31 December 2024
4. Analysis of Expenditure
Unrestrlcted
Funds
2024
Restricted
Funds
2024
Total
2024
Total
2023
Charltable Actlvltles
Printing of literature
830
830
3,194
Postage
479
479
283
Website expenses
55
Accountancy
420
420
420
Bank charges
42
42
36
Exchange rate difference
186
186
(1511
Charitable donations
3,891
3,334
7,225
11,072
Total expendlture
5,848
3,334
9,182
14,909
5. Taxatlon
Cherith Gospel Outreach Trust is recognised as a charity for the purposes of applicable taxation legislation and is
therefore not subject to taxation on its charitable activitie5
6. Analysis of trustee remuneration and expenses
Key Management and Trustees
Key management are deemed to comprise the Trustees.
None of the Trustees received any remuneration from the charity.
No Trustee or a person related to a trustee had any personal interest in any contract or transaction entered into
by the charity during the year
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