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ACTS MINlSfRIES Unaudited Fln•ncial Staternents Table of Contents For the y••r endad 5 Aprll 2023 Report of the Trustees Report of the Independent Examlner Ststement af Flnanclal Actlvltles Balance Sheet io Notes to the flnanclal statements li riao0 1
Acfs MINISTRIES Statemerrt of Finandal Actl¥ltles lincorpoTatlng an Income & Expendlture Account) For the year ended S Aprll 2023 Totsl ZD23 Total 2012 Notes Unre5tr1rtod Restrlrted INCOME AND ENDOWMENTS FROM: l)onatlons Ind leiacles 21.769 21,769 31,827 Charftable Artlvltles Bank Interest TOTAL INCOME 21,769 21,769 31,828 EXPENDITURE ON.. Ch•rltable Artlvttles 123.6661 123,666) 137,730) Oth•r (3531 (353) 12351 TOTAL EXPENDITURE I24.0 124.019) 137,9651 NET EXPENOITURE 112501 12.250) 16,137) GROSS TRANSFERS 8rrwEEN FUNDS RECONauATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 15,083 TOTAL FUNDS CARRIED FORWARD 696 6,696 8.946 All income derives from contlnulng actSvitle5, therefore no ststement of re¢o8n15ed galns or1055e5 Is glven. The nDte5 on pages 11 to 13 fonn part of these )Inancial statements. Page 9
ACTS MINISTrIES Balanc• Sh••t at S A rll 2023 2022 Not•8 CURRENT ASSETS 8ank Balan¢0 6.696 6,696 8.948 MET ASSETS 1.696 REPRESENTED 8Y: R*strktsd Rw•nu• Fund Unrvdtrf¢t•d R•v4nu• Fund 6.898 6,896 8,946 ThoBe flnandal gtat•m•nts w•r• gpprov•d ty th8 MaMrg of thè wnmltteè and author1d for and are Sned on thelr behalf by.. Raymo Tru•t•• d Thomp•on Th• on pages 11 to 13 lomi of those flnandal 8tat•m•nts. Pwlo
ACTS MINISTRIES NOTES TO THE FINANaAL STATEMENT5 YEAR ENDED STH APRIL 2023 1 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in th8 preparation of the financial statements are as follows- al Basis Df preparation The financial ststemenls have been prepared In accordancè wth Accounting and Reporting by Charities: Statement of Recommended Practice applicabl8 to charities preparing their accounts In accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)- {Charitl8s SORP IFRS 102). the Financial Reporting Sland8rd applicabl8 In the UK and Republic of Ireland IFRS 102) and the Charities Act (Northern Ireland) 2008. Acts Ministri85 meets the definibon of a publlc benefit entity under FRS 102. A6sets and liabilitie5 are initially recognised at hlstorical cost or tran88Ctlon volue unles5 othe88 stated In the relevant aGGountlng policy note(s). bl Preparation of Ihe accounts on a going ncern basls The trustees are of the opinlon that the charity Is a golng concern basad on the reserves in place. c> Fund AccJ)untlng Unrestricted funds are funds which are availabl8 for use at the dlscretlon ¢f the Trustees in furtherance of the gener81 obJ8Ctives of the Charlty and which have not b88n d881gnat8d for other purposes. Restricted funds are funds which which are to b8 used in accordance th 8peclfic restricti(8 Imposed by donors or which have been ralsed by the Ch8rity for particular purposes. The cost of raising and adrninistering such funds are charged against the spèclfic fund. The aim and use of restrict8d funds is set OLrt In the notes to th8 flnancial ststements. Restrfcted funds may only be transferred to general or designated funds once the crlteria far restActlon have been dlscharg8d or no longer apply. d) Income Income is recognS$ed when the charlty has entltlement and any perfomance condltlons attached to the it8mlsl of income have been met, It is probable that the Incomè vlll be received and the amount can be measured reliably. Income is def•rr•d only when the charity has to fulfill conditlons before becoming entitled to perlad. Pagu 11
Acfs MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5TH APRIL 2023 1 ACCOUNTING POLICIES ctd... e) Donated services and facilities In accordarTce wlth the Charities SORP IFRS 102), the general volunteer tirne of supporters is not recognised. The charity do8s depend on the on the support of ils volunteers, vthlch is much appreciated. n Expendlture and Irrecoverable VAT Expenditure is recognised once thera T5 8 legal or con8tructlve obligation to make a payynent to a thlrd paty, it is probable that settlement will be required and the amount of the obllgauon can be measured reliably. Expenditure is classified under the following activity heading.. Expenditure on charitablè activiues cornprises those costs incurred by the charity in the delivery of its activities and sefvlces for its benefidarles. It includes both costs that can be allocated directly to such activities and those costs of an Indirect nature necessary to support them. Irrecoverable VAT18 charged as a cost agalnst the actlvlty for whlch thg expendllure was incurred. g> Taxatlon The company is a registered charity and the charltsble tax exemptions ore therefora being claimed to the extent that Income andlor gains are applicable and app118d to charltable purpo8e8 only. These exemptlons VAII remain in place as long as income and expendlture Is applied to charrtable purposes only. h) Crftlcal Accounting Estimates In the appllcatlon of Ihe charity's accountlng polldes, the trustees are required to make Judgements, eSMateS and assurnptions about the carrying amount of assets and IlabllitS88 that are not readily apparent from other sourc8s. The estimates and assocaated assumptlons are based on historical experlence and Other factors that are consldered to be relavant. Actual re8ults may dlffer from these estwnatss. The estlm8tes and undedying assurnpttons are revlewed on an ongoing basis. Revisions to accountlng estirnates are recognised In the perlod In whlch the estimate is revised where the revl3ion affects only that period, or in the period of the revision and future periods where the revlslon affects both current and future perfods. 2 Related Party Transactlons The charity was under the control of the board of trustees through out the year. The charity Trustees were not pald or received any benefits from employment with the charlty In the year, neither were they relmbursed expenses during the year. Durfng the year Acts Mlni5tries did not enter Into any transattions with related partie5. The charlty a150 does not Employ any staff. paBe 12
ACTS MINISTrIES NOTES TO THE FINANaAL STATEMENT5 YEAR ENDED 5TH APRIL 2023 3 Charltable activities expenditur• Unrestrtcted 2023 Restricted 2023 Total 2023 Total 2022 Funds Little Hearts Orphanage Special Projects Total Expondlture 14,580 9.085 23.665 14.580 9.085 23,665 15,795 21,935 37,730 The 2022 amount of £37,730 was made up of £34,730 unrestricted and £3,000 restrbcted. 4 Other exp•nditur• Unr8strlcted 2023 Restrlcted 2023 Total 2023 Total 2022 Bank chargés Total Expendituro 353 353 353 353 235 235 The 2022 arnount of £235 was all unre8trlcted. 5 MO0t In funds durlng thé year Funds brought Movement in Transfer forward from 2022 fijnds In 2023 betrween funds Funds carrled fop•4ard Unrestricted Revenue Restrltted Revenue 8,946 12.2501 6,696 8,946 12.2501 6,696 Funds brought Movement In Transfer fon•Jard from 2021 funds In 2022 between funds Funds carrSed forward Unrestrlcted Revenue Restricted Revenue 15,083 {6.1371 8,946 15,083 16,1371 8.946 Page 13