COMPANY REGISTRATION NUMBER: NI027226 CHARITY REGISTRATION NUMBER: NIC103275
Reach The Unreached Ministries Limited Company Limited by Guarantee Financial Statements
31 August 2023
Reach The Unreached Ministries Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
Reach The Unreached Ministries Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
Reference and administrative details
Registered charity name Reach The Unreached Ministries Limited Charity registration number NIC103275 Company registration number NI027226 Principal office and registered 2 Belair Park office Newtownards Co Down BT23 4UX
The trustees
Mrs A Gunning Mr R Gunning Company secretary Mrs A Gunning Independent examiner E Mulholland on behalf of Johnston Graham Limited 216/218 Holywood Road Belfast BT4 1PD
Structure, governance and management
The organisation is a charitable company limited by guarantee and incorporated on 15th February 1993.
The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and is governed by those Articles. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. Reach the Unreached Ministries Limited is in compliance with legal and other governance obligations. The company was formally granted charitable status by the Northern Ireland Charities Commission on 2nd July 2015.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Objectives and activities
The objectives of the charitable company are:
-
to spread the Christian gospel to areas of the world where it has not yet reached
-
the establishment of new churches in areas of world where there were previously no church
-
the support, training and equipping of churches and church workers in such areas
Local people in these areas benefit from having access to a local church and the pastoral care, counsel and advice of a trained pastor and national pastors are provided with support as they establish new churches.
In setting objectives and planning our activities for the year, the trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have helped achieve the Charity's purposes and provide a benefit to the beneficiaries.
Achievements and performance
The organisation operates through campaigns and conferences held in towns where outreaches have not been held previously and has also established a network for campaign evangelists.
To date the charity has provided support to over 200 national pastors through:
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providing financial support to national pastors who establish new churches
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helping pastors to construct new churches
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supplying gospel literature to national pastors in our target areas
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equipping national pastors with bicycles for transport
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conducting training seminars for pastors.
Financial review
The company has continued to be supported by donations and received total income of £79,856, resulting in a surplus for the year of £3,787 all of which related to unrestricted funds.The company showed unrestricted reserves of £3,409 at 31 August 2023.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Responsibilities of the trustees
The trustees (who are also the directors of Reach The Unreached Ministries Limited for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period.
In preparing these financial statements, the trustees are required to:
· select suitable accounting policies and then apply them consistently;
· observe the methods and principles in the Charities SORP;
· make judgements and accounting estimates that are reasonable and prudent;
· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies 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 irregularities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 17 May 2024 and signed on behalf of the board of trustees by:
Mr R Gunning Trustee
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Reach The Unreached Ministries Limited
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of Reach The Unreached Ministries Limited ('the charity') for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the ‘2008 Act’) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
E Mulholland Independent Examiner
216/218 Holywood Road Belfast BT4 1PD
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 73,368 | 2,100 | 75,468 | 86,616 |
| Investment income | 6 | 3 | – | 3 | 5 |
| Other income | 7 | 4,385 | – | 4,385 | 5,523 |
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| Total income | 77,756 | 2,100 | 79,856 | 92,144 | |
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| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 73,969 | 2,100 | 76,069 | 96,111 |
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| Total expenditure | 73,969 | 2,100 | 76,069 | 96,111 | |
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| Net income/(expenditure) and net | |||||
| movement in funds | 3,787 | – | 3,787 | (3,967) | |
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| Reconciliation of funds | |||||
| Total funds brought forward | (378) | – | (378) | 3,589 | |
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| Total funds carried forward | 3,409 | – | 3,409 | (378) | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 162 | 216 | |
| Current assets | ||||
| Debtors | 15 | 816 | 813 | |
| Cash at bank and in hand | 6,533 | 1,197 | ||
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| 7,349 | 2,010 | |||
| Creditors: amounts falling due within one year | 16 | 4,102 | 2,604 | |
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| Net current assets | 3,247 | (594) | ||
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| Total assets less current liabilities | 3,409 | (378) | ||
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| Net assets | 3,409 | (378) | ||
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| Funds of the charity | ||||
| Unrestricted funds | 3,409 | (378) | ||
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| Total charity funds | 17 | 3,409 | (378) | |
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For the year ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 17 May 2024, and are signed on behalf of the board by:
Mr R Gunning Trustee
The notes on pages 7 to 13 form part of these financial statements.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 2 Belair Park, Newtownards, Co Down, BT23 4UX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The company is limited by guarantee and has no authorised or issued share capital.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 73,368 | 2,100 | 75,468 | ||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 82,596 | 4,020 | 86,616 | ||
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| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest received | 3 | 3 | 5 | 5 | |
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| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Gift Aid | 3,986 | 3,986 | 3,879 | 3,879 | |
| Other income | 399 | 399 | 1,644 | 1,644 | |
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| 4,385 | 4,385 | 5,523 | 5,523 | ||
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| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Charitable activities | 73,969 | 2,100 | 76,069 | ||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Charitable activities | 92,091 | 4,020 | 96,111 | ||
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| 9. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | 2023 | 2022 | |||
| £ | £ | £ | |||
| Charitable activities | 76,069 | 76,069 | 96,111 | ||
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
10. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| Net income/(expenditure) is stated after charging/(crediting): | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 54 | 72 | |
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| 11. | Independent examination fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 600════ |
600════ |
12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: | The total staff costs and employee benefits for the reporting period are analysed as follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 35,591 | 48,168 |
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| The average head count of employees during the year was 2 (2022: 2). The average number of | ||
| full-time equivalent employees during the year is analysed as follows: | ||
| 2023 | 2022 | |
| No. | No. | |
| Number of staff | 2 | 2 |
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No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees, in respect of their role as trustees. Remuneration was however paid in respect of services received through employment and included in note 12 to these financial statements.
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
14. Tangible fixed assets
| Fixtures and | |||
|---|---|---|---|
| fittings | Total | ||
| £ | £ | ||
| Cost | |||
| At 1 September 2022 and 31 August 2023 | 10,191 | 10,191 | |
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| Depreciation | |||
| At 1 September 2022 | 9,975 | 9,975 | |
| Charge for the year | 54 | 54 | |
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| At 31 August 2023 | 10,029 | 10,029 | |
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| Carrying amount | |||
| At 31 August 2023 | 162 | 162 | |
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| At 31 August 2022 | 216 | 216 | |
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| 15. | Debtors | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other debtors | 816 | 813 | |
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| 16. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | 3,448 | 1,950 | |
| Director loan accounts | 654 | 654 | |
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| 4,102 | 2,604 | ||
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17. Analysis of charitable funds
Unrestricted funds
| At | At | |||||
|---|---|---|---|---|---|---|
| 1 | September | 31 August | 20 | |||
| 2022 | Income | Expenditure | 23 | |||
| £ | £ | £ | £ | |||
| Unrestricted fund | (378) | 77,756 | (73,969) | 3,409 |
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| At | At | |||||
| 1 | September | 31 August | 20 | |||
| 2021 | Income | Expenditure | 22 | |||
| £ | £ | £ | £ | |||
| Unrestricted fund | 3,589 | 88,124 | (92,091) | (378) |
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Reach The Unreached Ministries Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
17. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 | September | 31 August 20 | ||
| 2022 | Income | Expenditure | 23 | |
| £ | £ | £ | £ | |
| Restricted Fund | – | 2,100 | (2,100) | – |
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|
| At | At | |||
| 1 | September | 31 August 20 | ||
| 2021 | Income | Expenditure | 22 | |
| £ | £ | £ | £ | |
| Restricted Fund | – | 4,020 | (4,020) | – |
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| Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | |||
| Funds | 2023 | |||
| £ | £ | |||
| Tangible fixed assets | 162 | 162 | ||
| Current assets | 7,349 | 7,349 | ||
| Creditors less than 1 year | (4,102) | (4,102) |
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| Net assets | 3,409 | 3,409 | ||
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| Unrestricted | Total Funds | |||
| Funds | 2022 | |||
| £ | £ | |||
| Tangible fixed assets | 215 | 215 | ||
| Current assets | 2,010 | 2,010 | ||
| Creditors less than 1 year | (2,604) | (2,604) |
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| Net assets | (379) | (379) |
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18. Analysis of net assets between funds
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