**Registered number: NI044385 Charity number: 103449**
## **RESTORATION MINISTRIES LIMITED**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent examiner's report**|6 - 7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes to the financial statements**|10 - 22|
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Trustees**
Mrs Anne Gibson
Mr Michael Fitch Dr Kelvin McCracken Rev Edward O`Donnell Rev Desmond Corrigan Mrs Eithne Agnew
## **Company registered number**
NI044385
## **Charity registered number**
103449
## **Registered office**
19 Harmony Drive Lisburn BT27 4ED
## **Company secretary**
Rev M Ruth Patterson
## **Chief executive officer**
Rev M Ruth Patterson
## **Accountants**
UHY Hacker Young Fitch Chartered Accountants Suite 2.06 Custom House Custom House Square Belfast BT1 3ET
## **Bankers**
AIB (NI) 35 University Road Belfast BT7 1RW
## **Solicitors**
David Russell & Co 66 Abbey Street Bangor BT20 4JB
Page 1
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees present their annual report together with the financial statements of the Company for the 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Directors have given due consideration to general guidance published by the charity commission relating to public benefit.
## **b. Strategies for achieving objectives**
Our strategic aim for the year was to:
- offer a listening and prayer ministry on an individual and confidential basis;
- organise/participate in seminars and workshops;
- encourage the building of relationships, friendships and trust between people from all traditions through reflection days and other meetings;
- publish a quarterly news sheet to friends of the Ministry around the world.
In reaching out further afield we:
- facilitated retreats;
- spoke at church gatherings;
- participated at conferences.
## **c. Activities undertaken to achieve objectives**
The principle activity of the company is to revitalise and renew people in the community and church through: - Exploring different ways in which we can provide more opportunities for people to tell their story and be 'heard' in a 'safe place'.
- Helping people to recognise and deal with areas of loss created by the last years, and also to celebrate growth and stretching.
- Promoting the work of Restoration Ministries by going out into all sections of the community in Ireland (both North and South), speaking and listening and pointing to windows of hope.
- Continuing to push out the frontiers of what it means to have our roots go deep into a Christian culture, rather than one which is exclusively either Protestant or Catholic.
We continue to reach out the hand of friendship through:
- Offering a prayer ministry on an individual and confidential basis.
- Encouraging building of relationships, friendships and trust among people of all traditions.
- Spiritual direction.
These and other areas are of vital importance for the church in all it's branches, and for Ireland as a whole.
Page 2
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Achievements and performance**
## **a. Key performance indicators**
The charity finished the year with a surplus of £14,068 (2023 - £16,145) and reserves of £280,732 (2023 - £266,664). All funds at the end of the year were unrestricted resources.
## **b. Review of activities**
Our main activities during the year were to:
- offer a listening and prayer ministry on an individual and confidential basis;
- organise/participate in seminars and workshops;
- encourage the building of relationships, friendships and trust between people from all traditions through reflection days and other meetings;
- publish a quarterly news sheet to friends of the Ministry around the world.
Continued to bring the Faith and Friendship movement under the umbrella of Restoration Ministries. There are six Faith and Friendship Groups in Northern Ireland. We had quiet days for the 'Friends of Restoration Ministries'.
We hope to continue achieving our objectives in the following year.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The results for the year are set out in the attached financial statements. It is the policy of the company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month`s expenditure.
The Directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, or necessary additional expenditure, they will be able to continue the company`s current activities while consideration is given to ways in which additional funds may be raised. During the year and at the year end all general funds under the control of the charity were unrestricted income funds.
Page 3
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Structure, governance and management**
## **a. Constitution**
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 14 October 2002.
The company is governed by its Memorandum of Association dated 14 October 2002 and is now registered as a
charity number 103449 with the Charity Commission NI.
The company has been formally admitted as a charity for income tax purposes. The statutory relief's under s.505 of the Income and Corporation Taxes Act 1988 are admissible on income from 14 October 2002 subject to compliance with the terms of s.505 of the Act.
## **b. Methods of appointment or election of Trustees**
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
## **c. Financial risk management**
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Plans for future periods**
The plans for the future continues to be revitalising and renewing people in the community and church.
## **Members' liability**
The company is a company limited by guarantee. The members of the company are the Directors named on page 2. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
Page 4
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 Company and of its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**Dr Kelvin McCracken** Trustee
Date: 22 September 2025
Page 5
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Independent examiner's report to the Trustees of Restoration Ministries Limited**
I report on the financial statements of the company for the year ended 31 December 2024 which are set out on pages 8 to 22.
## **Respective responsibilities of charity Trustees and examiner**
As the company's trustees (and also the directors of the company for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the company is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
- follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
I have examined your company accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as company trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept in accordance with section 386 of the Companies Act 2006;
2. that the accounts do not accord with those accounting records;
3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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);
4. that there is further information needed for a proper understanding of the accounts to be reached.
Page 6
**RESTORATION MINISTRIES LIMITED**
**(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
This report is made solely to the company's Trustees, as a body, in accordance with section 65(3)(a) of the Charities Act (Northern Ireland) 2008 and regulations made under section 66 of that Act. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Scott McCullough
Dated: 22 September 2025
Scott McCullough
FCA, Chartered Accountants Ireland
Suite 2.06 Custom House Custom House Square BT1 3ET
Page 7
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Income from:**
Charitable activities
3
Other trading activities
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**27,671**
**995**
**1,325**
**29,991**
**-**
**15,923**
**15,923**
**14,068**
**266,664**
**14,068**
**280,732**|**Total**
**funds**
**2024**
**£**
**27,671**
**995**
**1,325**
**29,991**
**-**
**15,923**
**15,923**
**14,068**
**266,664**
**14,068**
**280,732**|_Total_
_funds_
_2023_
_£_
_29,382_
_778_
_1,093_|
|---|---|---|---|
||||_31,253_|
||||_569_
_14,539_|
||||_15,108_|
||||_16,145_|
||||_250,519_
_16,145_|
||||_266,664_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 22 form part of these financial statements.
Page 8
## **RESTORATION MINISTRIES LIMITED (A company limited by guarantee) REGISTERED NUMBER: NI044385**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**3,284**
**108,692**
**111,976**
**(2,369)**|**2024**
**£**
**171,125**
**171,125**
**109,607**
**280,732**
**280,732**
**280,732**
**-**
**280,732**
**280,732**|_3,832_
_94,275_
_98,107_
_(2,568)_|_2023_
_£_
_171,125_|
|---|---|---|---|---|
|||||_171,125_
_95,539_|
|||||_266,664_|
|||||_266,664_|
||||||
|||||_266,664_|
|||||_-_
_266,664_|
||||||
|||||_266,664_|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **Dr Kelvin McCracken**
Trustee
**Mr Michael Fitch** Trustee
Date: 22 September 2025
The notes on pages 10 to 22 form part of these financial statements.
Page 9
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. General information**
Restoration Ministries Limited is a private company limited by guarantee and is incorporated and registered in Northern Ireland under Company Registration Number NI044835. It is also a charity registered by the Charity Commission NI under Charity Registration Number 103449.
The charitable company's registered office is situated at 19 Harmony Drive, Lisburn, BT27 4ED.
The principle activity of the company is to revitalise and renew people in the community and church.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Restoration Ministries Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
These financial statements have been prepared on a going concern basis.
Page 10
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **2.4 Expenditure**
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 benefits will be required in settlement and the 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 direct 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 consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Fundraising costs are expenses such as books and magazines. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Page 11
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure (continued)**
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Statement of financial activities.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Freehold property Not depreciated
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 12
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.10 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
Prayer Ministry and interdenominational outreach
27,621
Faith and Friendship
50
27,671
_Unrestricted_
_funds_
_2023_
_£_
Prayer Ministry and interdenominational outreach
_29,382_|**Total**
**funds**
**2024**
**£**
**27,621**
**50**|
|---|---|
||**27,671**|
||_Total_
_funds_
_2023_
_£_
_29,382_|
Page 13
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
**4. Income from other trading activities**
**Income from non charitable trading activities**
|**Unrestricted**
**funds**
**2024**
**£**
Book sales
995
_Unrestricted_
_funds_
_2023_
_£_
Book sales
_778_
**5.**
**Investment income**
**Unrestricted**
**funds**
**2024**
**£**
Bank interest receivable
1,325
_Unrestricted_
_funds_
_2023_
_£_
Bank interest receivable
_1,093_|**Total**
**funds**
**2024**
**£**
**995**|
|---|---|
||_Total_
_funds_
_2023_
_£_
_778_|
||**Total**
**funds**
**2024**
**£**
**1,325**|
||_Total_
_funds_
_2023_
_£_
_1,093_|
Page 14
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2024**
**£**
Prayer Ministry and interdenominational outreach
15,923
_Unrestricted_
_funds_
_2023_
_£_
Prayer Ministry and interdenominational outreach
_14,539_|**Total**
**2024**
**£**
**15,923**|
|---|---|
||_Total_
_2023_
_£_
_14,539_|
## **7. Analysis of expenditure by activities**
|Prayer Ministry and interdenominational outreach
Prayer Ministry and interdenominational outreach|**Activities**
**undertaken**
**directly**
**2024**
**£**
12,892
_Activities_
_undertaken_
_directly_
_2023_
_£_
_11,799_|**Support**
**costs**
**2024**
**£**
3,031
_Support_
_costs_
_2023_
_£_
_2,740_|**Total**
**funds**
**2024**
**£**
**15,923**|
|---|---|---|---|
||||_Total_
_funds_
_2023_
_£_
_14,539_|
Page 15
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|**Prayer**
**Ministry and**
**inter**
**2024**
**£**
Staff costs
3,548
Rent & premises
650
Office expenses
777
Light and heat
2,197
Telephone expenses
951
Maintenance and repairs
3,706
Insurance
1,056
Foreign exchange (gain)/loss
7
12,892
_Prayer_
_Ministry and_
_inter_
_2023_
_£_
Staff costs
_3,185_
Rent & premises
_623_
Office expenses
_675_
Travel and meetings
_100_
Light and heat
_1,599_
Telephone expenses
_1,021_
Maintenance and repairs
_3,539_
Insurance
_1,017_
Foreign exchange (gain)/loss
_40_
_11,799_|**Total**
**funds**
**2024**
**£**
**3,548**
**650**
**777**
**2,197**
**951**
**3,706**
**1,056**
**7**|
|---|---|
||**12,892**|
||_Total_
_funds_
_2023_
_£_
_3,185_
_623_
_675_
_100_
_1,599_
_1,021_
_3,539_
_1,017_
_40_|
||_11,799_|
Page 16
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. Independent examiner's remuneration**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Company's independent examiner for the independent|||
|examination of the Company's annual accounts|**1,404**|_1,317_|
|Fees payable to the Company's independent examiner in respect of:|||
|All assurance services not included above|**1,445**|_1,237_|
Page 17
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **9. Staff costs**
|**2024**
**£**
Wages and salaries
**3,548**
**3,548**
The average number of persons employed by the Company during the year was as follows:
**2024**
**No.**
Administrative purposes
**1**|_2023_
_£_
_3,185_|
|---|---|
|||
||_3,185_|
||_2023_
_No._
_1_|
No employee received remuneration amounting to more than £60,000 in either year.
|**10.**|**Trustees' remuneration and expenses**|**Trustees' remuneration and expenses**|
|---|---|---|
||During the year, no Trustees received any remuneration or other benefits_(2023 - £NIL)_.||
||During the year ended|31 December 2024, no Trustee expenses have been incurred_(2023 - £NIL)_.|
|**11.**|**Tangible fixed assets**||
|||**Freehold**|
|||**property**|
|||**£**|
||**Cost or valuation**||
||At 1 January 2024|**171,125**|
||At 31 December 2024|**171,125**|
||**Net book value**||
||At 31 December 2024|**171,125**|
Page 18
## **RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **12. Debtors**
|**Due within one year**
Prepayments and accrued income
Gift aid debtor|**2024**
**£**
**2,282**
**1,002**
**3,284**|_2023_
_£_
_2,397_
_1,435_|
|---|---|---|
||||
|||_3,832_|
## **13. Creditors: Amounts falling due within one year**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**2,369**|_2,568_|
## **14. Financial instruments**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**108,692**|_94,275_|
Financial assets measured at fair value through income and expenditure comprise cash and cash equivalents.
Page 19
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **15. Statement of funds**
## **Statement of funds - current year**
|**Balance at 1**
**January**
**2024**
**£**
**Unrestricted funds**
General Funds - all funds
**266,664**
**Statement of funds - prior year**
_Balance at_
_1 January_
_2023_
_£_
**Unrestricted funds**
General Funds - all funds
_250,519_|**Income**
**£**
**29,991**
_Income_
_£_
_31,253_|**Expenditure**
**£**
**(15,923)**
_Expenditure_
_£_
_(15,108)_|**Balance at**
**31**
**December**
**2024**
**£**
**280,732**|
|---|---|---|---|
||||_Balance at_
_31_
_December_
_2023_
_£_
_266,664_|
Page 20
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **16. Summary of funds**
## **Summary of funds - current year**
|**Balance at 1**
**January**
**2024**
**£**
General funds
**266,664**
**Summary of funds - prior year**
_Balance at_
_1 January_
_2023_
_£_
General funds
_250,519_
**17.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
Tangible fixed assets
Current assets
Creditors due within one year
**Total**
**Analysis of net assets between funds - prior period**
Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Income**
**£**
**29,991**
_Income_
_£_
_31,253_|**Expenditure**
**£**
**(15,923)**
_Expenditure_
_£_
_(15,108)_
**Unrestricted**
**funds**
**2024**
**£**
171,125
111,975
(2,369)
280,731
_Unrestricted_
_funds_
_2023_
_£_
_171,125_
_98,107_
_(2,568)_
_266,664_||**Balance at**
**31**
**December**
**2024**
**£**
**280,732**
_Balance at_
_31_
_December_
_2023_
_£_
_266,664_
**Total**
**funds**
**2024**
**£**
**171,125**
**111,975**
**(2,369)**
**280,731**
_Total_
_funds_
_2023_
_£_
_171,125_
_98,107_
_(2,568)_
_266,664_|
|---|---|---|---|---|
||||||
||||||
Page 21
**RESTORATION MINISTRIES LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **18. Members' liability**
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
## **19. Related party transactions**
During the year the charitable company entered into transactions, in the ordinary course of business with other related parties. Transactions entered into and balances outstanding at 31 December 2024, are as follows:
||**Services**|**Services/**|**Amounts**|**Amounts**|
|---|---|---|---|---|
||**/sales to**|**purchases**|**owed from**|**owed to**|
||**related**|**from related**|**related**|**related**|
||**parties**|**parties**|**parties**|**parties**|
||**£**|**£**|**£**|**£**|
|2024|**-**|**2,849**|**-**|**-**|
|2023|**-**|**2,554**|**-**|**-**|
## **Terms and conditions of transactions with related parties**
Sales and purchases between related parties are made at normal market prices. Outstanding balances with entities are unsecured, interest free and cash settlement is expected within 60 days of invoice. The charitable company has not provided or benefited from any guarantees for any related party receivables or payables. During the year ended 31 December 2024, the charitable company has not made any provision for doubtful debts relating to amounts owed by related parties (2023: £nil).
## **Key management personnel**
All directors who are also trustees and certain senior employees who have authority and responsibility for planning, directing and controlling the activities of the Charity are considered to be key management personnel. Total remuneration in respect of these individuals is £nil (2023: £nil).
## **20. Controlling party**
The ultimate controlling party of the company is the Board of Directors.
Page 22