Charity R•gistration Numb•r. NICIO5730 Acfs MINISTRIES FINANCIAL STATEMENTS FOR THEYEAR ENDED 5TH APRIL 2024
ACTS MINISTRIES Unaudlted HnaNi•l Statements T¥ble of C¢tents For the year ended 5 Aprll 2024 Pw Report of the Trustees Report of the Independent Examlner ststemert of Flnanclal Attlvltles Balance Sheet io Nates to the flnanclal statements li Page I
Acfs MINISTRIES statement of Hnanclal Actfvitles (Incorporatlng an Income & Expenditure Account) Forthe year ended 5 April 2024 Total 2024 Total 2023 Notes Ure5rted Restrirted INCOME AND ENDOWMENTS FROM: Donatlans and leiacle5 22,S44 22.$44 21.769 charItsb Athltleg Bank lTht4r•5t Glft Ald 5,082 TOTAL INCOME 27,626 27.626 21,769 EXPENDITURE ON: Charlt•bFe A(tlvltl•s 118,6801 118.6801 123,6651 Other 11.2801 (1,280) {3531 TOTAL EXPENDITURE 119,9601 119.960) 124.0181 NEf EXPENDITURE 7,666 7,666 12,249) GROSS TRANSFERS 8mvEEN FUNDS RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 6.697 6.697 8,946 TOTAL FUNDS CARRIED FORWARD 14,363 14,363 6.697 All income derlves from contlnulng activltles, therefore no staternent of recognlsed galns or losses Is glven. The note5 on page5 11 to 13 form part of these financial 5tstements. Pa8e 9
ACTS MINISTRIES Balancè Sheet at S Aprll 2024 2024 2023 Notes CURRENT ASSETS Bank 8alance 14,363 14,363 6.697 6.697 NET A83ETS 14363 6.697 REPRESENTED BY: Rostrlctgd Ravenué Fund Unreslrktad Revenue Fund 14.363 8.697 14,383 6,697 These flnancial statements w8r8 approved by the mernbers of the commltte8 and authorKg•d for Issue and ara $lgned on thoir bahalf by: .2025. ond Thornpson Tru•t•• Dat8 The notes on pages 11 to 13 fomi part of these financJal statements. PagÈ 10
ACTS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5TH APRIL 2024 1 ACCOUNTING POLICIES The prinGipal acGountlng policie5 adopted, ludgernents and key sour$ Of estimatlon uncertainty In the preparats'on of the financial statements arg as follows.. a) Bas18 of preparation The finan¢lal stslements have been prepared in accordance with Accounting and Reporting by Charilres.. Statement of R8commended Practice applicable to charities preparrng their accounts In 2ccordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102), the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charlties Act (Northem Ireland) 2008. Acts Ministrl8s m88ts the deflniiion of a publlc benefit entty under FRS 102. Assets and 118bllllles are inltially reojgnised at hislorlcal cost or transaction value unless otherwlse 8t8t8d In the relevant accounting policy note(s). b) Pr•paratlon of tho accounts on a golng concorn ba818 The trustees are of the oplnion that the charity is a golng ¢oncem based on the reseNes In place. c) Fund Accountlng Unrèstricted funds are funds which are available for use at the discr?tion of the Trustees in furtheranc8 of the general objectives of the Charity and which have not been designated for other purposes. Restrfct8d funds are funds which whlch ar8 to be usad In accordance wlth speclflc restrictions Imposed by donors or which have b88n ralsed by the Charlty for partlcular purposes. The cost of r818lng and administering such funds are charged agalnst the speclfic lund. The alm and use of restricted funds is set out In the notes to the financial stsleM8nts. Restrl¢ted funds may only be transferred to general or deslgnated funds once the criteria for restriction have been dlscharged or no longer apply. d) Income Income ts recognised en the charity has entitlement and any performanc8 conditions attached to the item(s) of Income have been met, it18 probable that the income WIN be received and the amount can be measured rellably. Income 15 deferred only then the ch8rlty has to fulfill condittons before becomlng entitled period. Page 11
ACTS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED STH APRIL 2024 1 ACCOUNTING POLICIES ctd... è) Donatèd sorvlces and facilllles In accordance wth the Charities SORP {FRS 102), the general volunteer tlme of supporters is not r&cognised. The charrty does depend on the on the support of its volunteers, whlch is much apweciated. fj Expendlture and irrecoverable VAT Expenditure 15 recognised once there is a legal or constnjctlve obllgation to make a payment to a thlrd party, It Is probable that selllernent wlll be required and the amount of the OblallOn can be measured rellably. Expenditure is ¢lassified under the followSng aGttVity heading: - Expenditure on charftable activSties comprlses those costs Incurred by the chafty in the delivery of Its activlties and servlces for ils beneficiarles. It Indudes both costs thal can be allocated directly lo such activitie5 and those cosis of an indlreGt nature necessary to support them. Irrecov8rable VAT Is charged as a cost against the actiwty for whlch the exp8ndltur8 was incurred. g) Taxatlon The companyls a registered charity and the charftab18 tax 8xemptians are therefore b8ing ciaimed to the 8Xtent that incorne andlor gains are applicable and applied to charitable purposes only. The88 exemptions will ramain in place as long as income and expenditure 18 applled to charitable purposes only. h) Crftlcal Accountlng EstlmatO8 In the appllcation of th8 charity's accounting pollci85, the trustees are required to make ludgements, 8slimates and 85surnplions about the canyng amount of assets and liabilltles that are not readily apparent from other sources. The estlmates and assoclated assumptions are based on historical experlence and other factors that are conslder&d to b8 r818v8nt Actual result8 may dlffer from these estimates. The estimates and underlying assumptions ar8 revlewed on an ongoing basls. Revislons to accounting esllmales am recogni5ed in the period In thlch the estimat81$ revlsed where the revlslon affects only that period, or in the perfod of the revlsion and futur8 perlods where the revision affects both current and future perlod6. 2 Related Party Transactlons The charlty wa5 under the contrul uf the board of tru5tee5 through out the year, The charity Trustees were not paid or received any benefit5 from employment with the charlty in the year, neither were they reimbursed expenses during the year. Durlng the year Act5 Ministrles did not enter into any transactlons wlth related partie5. The charlty also doe5 not employ any Staff. Page 12
ACTS MIN15TRIES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5TH APRIL 2024 3 Charltablé actlvities •xpendilure Unrestrlctsd 2024 Restrlcted 2024 Total 2024 Total 2023 Funds Little Heart5 Orphanage Speclal Projects Total Expondltur• 14,580 4.11]] 18.680 14,S80 4.100 18,680 14.580 9.085 23.665 The 2023 amount of £23,665 was all unrestrlcted. 4 Oth•r •xp•ndlturn Unrestrlcted 2024 Restrtct8d 2024 Total 2024 Total 2023 Bank charges Profession81 fees Total Exponditur• 200 1,080 200 2110 1,080 200 353 353 353 The 2023 arnount of £353 all unrethcted. Included wlthin prof8sslonal fees are fe88 payable to the chane8 Independent examlner of £1.080 5 Movomont In fund8 durlnq th• ygar Funds brought Movement In Transfer fonward from 2023 funds In 2024 between funds Fund$ ¢Jrrled foNMrd Unrestricted Revenue Restrlcted Revenue 6,697 7.666 14.363 6,697 7.666 14.363 Funds brou8ht Movement in Transfer forward from 2022 fund5 in 2023 between funds Funds carrled lorward Unrestrftted Revenue Restrlrted Revenue 8,946 12,2491 6.697 8,946 12,2491 6,697 Page 13