Servant Trust- A Company Limited by Gllarantee Statement of financial activAties incorporating income and expenditure account Statetnent of financial activities Incomin Tithe SOS Mission UCO Belfast Income Alms Misc. Income Event Income Grant Income Gift Aid Total Incoming Resources Resources Sep-21 Aug-22 82,968 3,344 Sep-22 Aug-23 77,578 3,500 26,179 1, 795 4,657 8,756 5, 1(X) 13,053 3,090 63,554 171,109 20,407 143,518 Resources Ex ended Charitable Activity Charis Expenditure Charis Overheads UniversFty Christian Outreach Mission Derry Missional Community Alms British Council Grant Total Resources Expended 89,585 10,598 39,115 89,503 9,653 44,220 452 890 5,995 12,803 158,986 1, 853 31,674 181,355 -37,837 Net Incoming Resources for the Year: Adjustment Funds Balance Brought Forward Adjustment Dankse UCO Adjustment Danske SWOT Fund Balances Carried Forward 12,123 1, 142 22, 165 6,050 31,048 72,528 72,529 34,692 Page17
Servant Trust- A Company Limited by Guarantee Statement of balance sheet Net Assets Fixed Assets Sep-21 Aug-22 Sep-22 Sep-23 CurrentAssets External Debtors Short Term Deposits Cash at Bank and in Hand Danske Bank- Charis Danske Bank- uco Danske Bank- Kairos (SWOT) Total Current Assets 35,430 6,050 31,048 72,528 29,150 5,522 20 34,692 less Creditors and Income in Advance Net Assets 72,528 34,692 Fund Balances Aug-22 Aug-23 General Fund Danske UCO Fund Danske- Kairos Grant EOT DMC Grant Total Funds 31,430 6,050 31,048 29, 150 5,522 20 72,528 34, 692 The financial statements were approved by the directors on on their behalf by= Desmond Dick 30 June 2023 and signed Mr. D. Page18
SeAnt Trust- A Company Limited by Guarantee Notes to the financial ststements - Accounting Policies For the year ended 31 August 2023 Basis of preparation of financial statements 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 SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Servant Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at h istoricaI cost or transaction value unless otherwise stated in the relevant accounting policy. Reconeiliation with previous Generally Aceepted Accounting Practice In preparing these accounts, the Directors have considered whether in applying the accounting policies required by FRS 102 and the Cliarities SORP FRS 102 the restatement of comparative items was required. Having considered the key accounting policies it was detern]ined that the prior year figures were not materially impacted. As such, no restatement of comparative figures was required. Company status The company is a company limited by guarantee. The members of the company are the Directors named on page l and the Company Secretary. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 O per member of the company. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular pUoses. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fuiid is set out in the notes to the financial statements. Income All income is recognised once the company has received the income. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of when the amount is received from HMRC. Income tax recoverable in relation to investment income is reeognised at the time the investment income is received. 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. Expenditure Expenditure is recognised once transfer of economic benefit has been made to a third party. 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. 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 inCued on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. Page19