Registered number: N1602901 Charity number: NIC: 106627 VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) CONTENTS Page Reference and administrative details of the charity, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-19
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Trustees Mr Victor Garrelt Mr Raymond Garrett Mr Raymond Cotter Company registered number N1602901 Charity registered number NIC: 106627 Registered office Suite 2.06 Custom House Custom House Square Belfast Antrim BT1 3ET Chief éxacutiva officer Mr Victor Garrett A¢eountants UHY Hacker Young Fitch Suite 2.06 Custom House Custom House Square Belfast BT1 3ET Page 1
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees present their annual report together with the financial statements of the Vision International Ministries for the 1 September 2022 to 31 August 2023. 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 charity 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 selting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. The advancement of the Christian religion in Malawi and throughout Africa for the benefit of the public through the following activities; The provision of a place of worship., Raising awareness and understanding of the Christian beliefs and practices., Holding church services and public meetings for praise, worship, Bible teaching, prayer and fellowship. The prevention and relief of poverty for the benefit of the public through the following activities., The construction of vocational training centres, feeding stations and orphanages., The provision of items to those thought to be in need: The advancement of education for the benefit of the public through the following activities., Constructing schools., Providing teachers and trainers to educ8te children and adults in schools,. Providing activities, education and teaching for children and young people. b. Activities undèrtaken to achieve objectives The charity raises funds for achieving its objectives through the sale of donated goods and furnishings in a charity shop and from renting its owned premises to a charity with similar charitable purposes. Achievements and performance a. Main achievements of the charity The organisation has been concentrating for some time on its projects in Malawi. The Nadazi school project was completed in 2011. It consists of a full primary school with 1250 children enrolled, including approximately 300 orphans. Teachers, offices, 2 teachers, houses and toilet blocks and borehole etc. Ongoing financial support for this work is continuing. The charity also sends containers of vital supplies of aid directly to Malawi. Page 2
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Achievements and performance (continued) b. Review of activities Vision International Ministries commenced two Feeding programmes in rural villages each with the 50 most vulnerable orphans in early 2010. These programmes continue to be fully financed by the charity. Clothing and medical assistance is provided and in some cases school fees. These are located at Ntakataka and at Bondo both in the region of Chief Kachindodamoto (Dedza area Central Malawi). The Emily Garrett project approximately 1 hour away is very isolated and difficult to get to with no other outside help apart from Vision Ministries. It is also funded completely by Vision International Ministries and under the care of ELIM Missions Malawi. It includes a Primary School and Community Church, staff house, orphan home, borehole, toilet block etc. There is also important feeding for children. Ongoing financial support for books and staff will continue for the foreseeable future. No school fees are charged as this is an area of extreme poverty. The transport costs in relation to this project have been considerable due to the difficult location. We have the full support of the Senior Chiefs, local MPS, the Education Minister, Local Authorities and all local church denominations. Also we are welcome by the Malawi Government Assembly. Visioncraft (craft section vocational training) is registered in Malawi as an FBO (Faith Based Organisation) and the sale of crafts has helped set up a computer college where students recently completed their course including "Young People" school teachers. Some are still studying but most have been helped to find jobs, mainly in teaching posts. They also have 2 feeding programmes with over 50 orphans in each which was started approximately 6 years ago in rural villages. The Trustees receive weekly feeding reports on the activity of the feeding programmes. This work was undertaken after discussions with the local MP and Senior Chief who both have a heart for the children and continue to lend their support. Although Vision International Ministries works in rural areas where poverty and disease is rife they are seeing lives dramalically changed, especially in regards to children. These people are truly the WARM HEART OF AFRICA. We want to do something to help them so our mission stalement simply is to "help and encourage those who are prepared to help themselves and to show them how they c8n do just th8t" Vision International Ministries welcomes 811 who wish to participate in activities and programmes run by the charity, which exists to promote the advancement of the Christian religion and provide educational opportunities. During the year ended 30 April 2016 the charity completed the purchase of new premises in Newtownards. This has provided a new base for the charitable activities and since 2019 has begun an additional source of incoming resources from renting parts of the property to other charitable organisations with similar charitable purposes. During the year in-person visits to the projects in Malawi were able to resume after travel restrictions eased, and the Trustees continued to provide vital financial aid and shipping aid containers. Financial review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity 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. Page 3
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 b. Reserves policy Vision International Ministries subscribes to a high standard of accountability and stewardship. The results for the year are set out in the attached financial statements. The results for the year and the financial position were considered satisfactory by the trustees who expect growth in the foreseeable future. During the year and at the year end all the general funds under the control of the charity were unrestricted income funds. The Board confirm that the charity's assets are available and adequate to fulfil the obligations of the charity and that the funds are not excessive, given the assets, commitments and size of the charity. c. Principal risks and uncertainties The Trustees continue to monitor the impact of the Covid-19 pandemic on the ground in Malawi. The Trustees continue to adhere to all UK goverment restrictions and advice around Covid-19. Structure, governance and management a. Constitution Vision Internalional Ministries is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 20th April 2010. The charity is constituted under a Memorandum of Association dated 27th January 2016 and is a registered charity with HMRC under number N100170. The charity is registered with the Charity Commission for Northern Ireland under number NIC 106627. b. Methods of appolntment or electlon of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association. c. Organisational structure and decision-making policies Vision International Ministries has a Board of three professional people one minister of religion and two professionals who function as Directors. This Board is responsible for the setting of policy, decisions on the annual programme of work, the financial management and supervision of any staff or volunteers appointed to work on behalf of the charity. Plans for future periods It is anticipated that all future developments will continue to focus on the advancement of religion, the relief of poverty and the advancement of education in Malawi, particularly school projects and feeding projects. Page 4
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Statement of Trustees. responsibilities The Trustees (who are also the directors of the charity for the purposes of company lawl 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 charity 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 IFRS 1021., make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 1021 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 charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charily's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity 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 on 19 June 2024 and signed on their behalf by.. Vi Mr Victor Garrett Trustee Page 5
Hacker Young Fitch Chartered Accountants BELFAST Suite 2.06, Custom House Custom House Square Belfast. 8T1 3ET VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023 Phone +44 28 9032 2047 Email belfaslQuhy-uk.com Web www.uhy-uk.comffjelfast Independent examiner's report to the Trustees of Vision International Ministries I report on the financial statements of the charity for the year ended 31 August 2023 which are set out on pages 7 10 19. LONDON 222 The Quadrangle Cambridge Square London W2 2PJ Respectlve responslbllltles of charlty Trustees and examlner Phone +44 20 7305 7489 Web www.uhy-uk.comlwestminster As the charity's trustees land also the directors of the company for the purpose of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied rnyself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility lo.. 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 6519llbl of the Charities Act., and state whether particular matters have Gome to my attention. Basls of Independent examlnerfs statement I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordancè with thè g6n6ral Directions given by the Charity Commission for Northern Ireland under section 6519}Ibl of the Charities Act. My examination included a review of the accounting records kepi by the charity 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 charity trustees concerning any such matters. My rol6 is to statè whÈth8r any matèrial mattèrs hav8 com8 lo my attèntion giving mè causè to bèlieve.. that accounting records weré not kept in accordance with s6Ction 386 of the Companies Act 2006., thal the accounts do not accord with those accounting records., 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 applicab16 to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102); thal there is further information needed for a propér understanding of the accounts lo b6 reached. Independent examinerfs statement I have completed my examination and have no concerns in respect of the matters111 to14) 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 altention. Dated.. 19 June 2024 Michael Fitch Chartered Accountants Ireland UHY Hacker Young Fitch 27-29 Gordon Street Belfast BT12LG UHY HackeT yng Fitch Is a trading nan)e of UHY Hacker Younq Fltch Limited A Iisi of members. rFamesand iheir piolessional quaiilKations Is avaiLab lor Inspecik)Th at the TlStered office at ihe at)ve addre55 Registeied lo cafry on audit and aulhorised lo cairyon Inve51menl bu51The55 by Ihe In51ilule ol charter Accountan15 In1ieland IICMI ChaiieTed Accountan15 Iidand 15 the opef3iin9 Daffle ol ICAI A mprnber ol the UHY Ha(ker YoLJng Gioup DI Indeperbdpnl UK partneI5hip5 A member of UHY Intetnational. a newrk of Irwkpendent accounting and con5uhing fittr HelF'¥ yo prosper CHARTERED ACCOVNT*tr4TS IRELAND
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Investments 53,895 32,005 53,895 32,005 68, 895 22, 000 6,515 Other income Total income 85,900 85,900 97,410 Expenditure on: Raising funds Charitable activities 541 93,239 541 93,239 7, 826 119,883 Total expenditure 93,780 93,780 127, 709 Net movament in funds (7,880) (7,880) (30, 299) Reconcilialion of funds: Total funds brought forward Net movement in funds 132,962 {7,880) 132,962 (7,880) 163,267 (30, 299) Total funds carried forward 125,082 125,082 132,962 The Statement of financi818ctivities includes 811 gains and losses recognised in the year. The notes on pages 10 to 19 form part of these financi81 statements. Page 7
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) REGISTERED NUMBER: N1602901 BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Note Fixed assets Tangible assets 10 133,053 136, 755 133,053 136, 755 Current assets Stocks 1,700 1,516 2,596 1,700 4,666 1,277 Debtors Cash at bank and in hand 5,812 7,643 Creditors.. amounts falling due within one year 12 (13,783) (11,436) Net current liabilities (7,971) (3, 793) Total assets less current liabilities 125,082 132, 962 Nat assèts excluding pansion asset 125,082 132,962 Total net assets 125,082 132, 962 Charity funds Restricted funds Unrestricted funds 14 14 125,082 132,962 Total funds 125,082 132,962 The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members havo nol 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 responsibililies 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 on 19 June 2024 and signed on their behalf by.. Page 8
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) BALANCE SHEET (CONTINUED AS AT 31 AUGUST 2023 VicGr Mr Victor Garrett Trustee The notes on pages 10 to 19 form part of these financial statements. Page 9
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 General information Vision International Minstries is a charitable company limited by guarantee, incorporated in Northern Ireland under registration number N1602901. The company's registered office is situated at Suite 2.06 Custom House, Custom House Square, Belfast, BT1 3ET. The charity's principal objects and activities are noted in the Trustees, Report. 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: Stalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. Vision International Ministries 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 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 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 can be rel8ibily measured 8nd to the extent the goods have been provided or on completion of the service. 2.3 Expenditure Expenditure is recognised once there is s legal or constructive obligation to trsnsfer economic benefit to a third paty, 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. Expenditure on raising funds includes all expenditure incurred by the charily to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitys objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 10
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies (continued) 2.4 Tangible fixed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 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 bases.. Long-term leasehold property Fixtures and fittings Office equipment 2 % slraight line 10 % straight line 25 % straight line 2.5 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.6 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. 2.7 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. 2.8 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 charity 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. Page11
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies (continued) 2.9 Financial instruments The charity 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. 2.10 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 charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted funds 2023 Total funds 2023 Donations 53,895 53,895 Unrestricted funds 2022 Total funds 2022 Donations 68,895 68,895 Investment income Unrestricted funds 2023 Total funds 2023 Local rent received Interest received 32,000 32,000 32,005 32,005 Page 12
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Investment income (continued) Unrestricted funds 2022 Total funds 2022 Local rent received 22,000 22,000 Other charitable trading income Total funds 2023 Unrestricted funds 2022 Total funds 2022 Charity donated goods income 6,515 6,515 Analysis of expenditure on charitable activities Summary by fund type Unrestrlcted funds 2023 Total 2023 Advancement of Christian religion and relief of poverty in Malawi 93,239 93,239 Unrestricted funds 2022 Total 2022 Advancement of Christian religion and relief of poverty in Malawi 119,883 119,883 Page13
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of expenditure by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Advancement of Christian religion and relief of poverty in Malawi 73,295 19,943 93,238 Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Advancement of Christian religion and relief of poverty in Malawi 98,335 21,548 119,883 Analysls of dlrect costs Advanclng Chrlstianity 2023 Total funds 2023 Feeding project and Christian school funding Aid containers 63,240 10,055 63,240 10,055 73,295 73,295 Advancing C17ristianity 2022 Total funds 2022 Feeding project and Christian school funding Aid containers 89, 239 9, 096 89,239 9,096 98,335 98,335 Page 14
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of expenditure by activities {¢ontinued) Analysis of support costs Advancing Christianity 2023 Total funds 2023 Depreciation General office costs 4,302 321 4,302 321 Telephone & internet Bank & credit card charges Sundry Premises expenses Insurances Accountancy Travel & Iransport Governance costs 885 885 351 3,713 33 1,255 623 7,010 1,450 351 3,713 33 1,255 623 7,010 1,450 19,943 19,943 Advancing Christianity 2022 Total funds 2022 Depreciation General office costs Telephone & internet Bank & credit card charges Sundry Premises expenses Insurances 3, 702 90 1,203 623 3, 702 90 1,203 623 3, 775 2, 148 2, 236 682 5,379 1,710 3,775 2, 148 2,236 682 5,379 1,710 Accountancy Travel & transport Governance costs 21,548 21,548 Page15
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Independent examiner's remuneration 2023 2022 Fees payable to the charitys independent examiner for the independent examination of the charity's annual accounts Fees payable to the charitys independent examiner in respect of.. All other services not included above 1,450 1,710 623 682 Trust8es' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 31 August 2023, no Trustee expenses have been incurred (2022- £NIL). 10. Tangible fixed assets Long-term leasehold property Motor Fixtures and vehicles fittings Office equipment Total Cost or valuation At 1 September 2022 156,999 1,500 5,623 11,825 175,947 At 31 August 2023 156,999 1,500 5,623 11,825 175,947 Depreciation At 1 September 2022 Charge for the year 22,495 3,140 1,500 3,372 562 11,825 39,192 3,702 At 31 August 2023 25,635 1,500 3,934 11,825 42,894 Net book value At 31 August 2023 131,364 1,689 133,053 At 31 August 2022 134, 504 2,251 136, 755 Page 16
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Debtors 2023 2022 Due within one year Charity debtors Other debtors 1,833 2,833 1,516 1,516 4,666 12. Creditors: Amounts falling due withln one year 2023 2022 Trade creditors Other creditors Accruals and deferred income 1,574 10,529 1,680 1,781 7,854 1,801 13,783 11,436 13. Financial instruments 2023 2022 Financial assets Financi81 assets measured al fair value through income and expenditure 2,596 1,277 Financial assets measured at fsir vslue through income and expenditure comprise b8nk balances and cash. Page 17
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 14. Statement of funds Statement of funds - current year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Unrestricted funds General Funds - all funds 132,962 85,900 {93,780) 125,082 Statement of funds - prior year Balance at 1 September 2021 Balance at 31 August 2022 Income Expenditu Unrestricted funds General Funds 163,261 97,410 (127, 709) 132,962 15. Summary of funds Summary of funds - current year Balance at 1 September 2022 Balance at 31 August 2023 Income Expendlture General funds 132,962 85,900 {93,780) 125,082 Summary of funds - prlor year Balance at I September 2021 Balance at 31 August 2022 Income Expenditure General funds t63,261 97,410 (727, T09) 132,962 Page 18
VISION INTERNATIONAL MINISTRIES (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 16. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Other 133,053 5,813 (13,783) (1) 133,053 5,813 (13,783) Total 125,082 125,082 Analysis of net assets between funds - prior year Unrestricted funds 2022 Total funds 2022 Tangible fixed assets Current assets 136, 755 7,643 (11,436) 136, 755 7,643 (11,436) Creditors due within one year Total 132,962 132,962 17. Controlling party The charity is controlled by the Board of Trustees. Page 19