Cbarity number: XR29780 Company number: N1035616 Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Trnstees, report and fmancial statements for the year ended 31 March 2023
Friends Of Afriea Missionary Endeavour Limited (A company limited by guarantee) Contents Page Legal and administrative inforniation Trustees, report Independent examiners, report Statement of financial activities Statement of Financial Position Notes to the Accounts 8-12
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Legal and administrative inforniation Charity number XR29780 Company registration number N1035616 Registered office 25-27 Edward Street Portadown County Arniagh BT62 3NE Trustees David GaTrett Rodney Davidson Alan Cunningham Jonathan Lockhart Gordon Martin Secretary Gordon Martin AccountaJAts S D Brown & Company Carnegie Building 25-27 Edward Street Portadown Co Arn)agh BT62 3NE Bankers Danske Bank 35 Higb Street Newtownards Co Down Page I
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year eDded 31 March 2023 The ljustees present their report and the financial statements for the year ended 31 March 2023. The lrnstees, who are also directors of Friends Of Afrlca Missionary Endeavour Limited for the purposes of company law and who served during the year and up to the date of this report are set out on page l. Structhreg governance and management The company is constitued by it's Memorandum and Articles of Association, and limited by Guarantee, having no Share Capitsl. Only persons who subscribe to the objects expressed ill the Memorandum of Association of the Company, and are appointed by the Executive Committee, or the company in a General Meeting can be admitted &s Trnstees. RISKS The Executive Committee has conducted its own review of the major risks to which the company is exposed, and systems have been established to mitigate those risks. In order to minimize internal risks, and to ensure the consistent quality of delivery for all operational aspects of the company procedures for authorization of all transactions, and projects have been implemenfrd. Objectives and activities Principal Aclivity The principal activity of the charity is missionary work in Africa. Achievements and perfornjance Many individuals and their families have been aided through the work of the clinic in Keny& It is hoped that the income by way of donations will continue at a rate which will sustain this work and develop the ministy of Friends of Africa Missionary Endeavour Limited. Financial review The results of the company for the year are detailed on pages 5 to 12. Plans for future periods For the next 12 months we are Committed to continuing our work in Afric& Funds held as custodian trustee on behalf of others No funds are held as Custodian on behalf of others. Page 2
Friends Of Africa Missionary Elldeavour Limited (A company limited by guarantee) Report of the trustees (incorporating the direetors, report) for the year ended 31 March 2023 Statement of trustees, responsibilities The trustees (who are also directors of Friends Of Africa Missionary Endeavour Limited for the pUoSe of company law) are responsible for preparing the Truste¢s' AJ)nual Report and the financial statements in accordance with applicable Iaw and United Kingdom Generally Accepted Accounting Prdctice. Company law requires the trustees to prepare fmancial statements for each financial year which give a trne and fair view of the state of affairs of the charitable compaDy and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trnstees are required to: select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern b&%is unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper aCcotIng records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies A¢t 2006. They are also responsible for saftguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small company provisions This report has been prepared in accordance wtth the provisions applicable to companies subject to the small companies, regime. On behalf of the board Giordon Martin Director 28 December 2023 Page 3
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Independent examiner's report to the trustees on the llnaudited fanCial statements of Friends Of Africa Missionary Endeavour Limited. I report on the accounts of Friends Of Africa Missionary Endeavour Limited for the year ended 31 March 2023 set out on pages2to 11. Respective responsibilities of trustees and independent examiner As the charity trustees (and also the directors of the company for the purposes 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 charity is not subject to audit under company law, and is eligible for independent examination, it is n]y responsibilty to: l) examine the accounts under section 65 of the Charitie5 Act 2) follow the procedures laid down in the general DirectiODS given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act 3) state whether particular matters have come to my attention. Basis of independent examiner's ststement I have examined your charity accounts as required under section 65 of the Charities Act and my examination was Cled out in accordance with the general Directions given by th¢ Charity Conllnission for Northern Ireland und¢r section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts present¢d with those records. It also included consideration of any unusual items or disclosure5 in the accounts and seeking explanations from you as charity trnstees concerning any such matters. My role is to state whether any material matters have come to my attention givino me cause to believe: a) that accounting records were not kept in accordance with section 386 of the Companies Act 2006 b) that the accounts do not accord with those accounting records c) 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 d) that there is f(wther infonnation needed for a proper understanding of the accounts to be reached Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (a) to (d) 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. Samuel David Brown Independent examiner S.D. Brown & Company Carnegie Buildillg 25-27 Edward Street Portadown Co. Arniagh BT62 3NE 28 December 2023 Page 4
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Statement of financial activities (incorporating the income and expendithre account) For the year ended 31 March 2023 Unrestrieted funds 2023 Total 2022 Totsl Notes Incoming resources Incoming resources from generating funds". Voluntary income Investment income 345,270 1,228 345,270 1,228 124,357 76 Total incoming resoure&g 346,498 346,498 124,433 Resources expended Establishment costs Motor and travelling expenses Professional fees Communications and IT Other office expenses Interest payable and similar charges Amounts written (on) l off investments Promotional costs 162,388 .912 1,410 365 2,200 242 17,321 11,712 162,388 8,912 1,410 365 2,200 242 17,321 11,712 148,469 1,187 1,800 368 1,477 191 (964) 8,292 Total resources expended 204,550 204,550 160,820 Net incomingl(outgoing) resources for the year I Net incomel(expense) for the year 141,948 141,948 (36,387) Total funds brought forward Total funds Carried forward 416,360 416,360 452,747 558,308 558,308 416,360 The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The notes on pages 8 to I I forni an integral part of those financial statements. Page 5
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Statement of Financial Position as at 31 March 2023 2023 2022 Notes Current assets Debtors Investments Cash at bank and in hand 6,149 172253 381,494 7,384 189,574 220,973 559,896 417,931 Creditors: amounts falling due within one year Net current assets (1,588) (1,571) 558,308 416.360 Net assets 558.308 416.360 Funds Unrestricted income fijnds 558,308 416,360 Total funds 558,308 416,360 The Balance Sheet continues on the following page. The notes on pages 8 to 11 forni an illtegraR part of these fin211Ci21 statemen Page 6
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Statement of Financial Position (continued) Trustees statements required by the Companies Act 2006 for the year ended 31 March 2023 In approving these financial statements as tteeS of the company we hereby confirni that: (a) for the year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. (b) the members have not required the company to obtain an audit of its accounts fior the year in question in accordance with section 476. (c) the director5 acknowledge their responsil)ilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. (d) these accounts have been prepared in accordance with the provisions applicable to companies subjert to the small companies, regime. The fmancial statements were approved by the board on 28 December 2023 and signed on its behalf by Director Gordon Martin The notes on pages 8 to I I forni an integral part of these financial statements. Page 7
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 Accounting policies The principal accounting policies are summartsed below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. Basis of accounting The fInancial statements have been prepared in accordance with AccountTng and Reporting by Charities: Statement of Reconmiended Practice applicable to charities preparing their accounts in accordance with the Financial reportinrv Standard Applicable in the UK and Republic of Ireland(FRS 102) (effective l January 2015) - (Charities SORP (FRS 102), the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Friends of Africa Missionary Endeavour Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially reCOlsed at historical cost or transaction value unIess otherwise stated in the relevant accounting policy. 1.2. Cashflow The charity has taken advantage of the exemption in Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), from the requirement to produce a cash flow statement on the grounds that it is a Sn11 charitable charity. 1.3. Fund aecounting General funds are unrestricted funds whi¢h 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 pwposes. 1.4. Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific perforn]ance by the chartty, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating fimds when they are sold. Income from investments is included in th¢ year in which it is receivable. Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or Property transferred and the amount involved can be quantified. Page 8
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 1.5. Resources expended EXpendite is recognised on an a¢¢nl basis as a liability is incuTTed. EXpendItte includes any VAT which cannot be llY recovered, and is reported as part of the expenditure to which it relates. Costs of generating fimds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of all indirect nature necessary to support them. Support Costs are those costs incurred directly in support of expenditure OD the objects of the charity and include project managemenL 1.6. Tangible red assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected Seful life, as follows: Fixtures, fittings and equipment 250/0 Straight line 1.7. Investments Current asset investsnents are at the lower of cost and net realisable value. Voluntary income 2023 Total 2022 Total Income received GiftAid Legacies 102,082 6,149 237,039 116,973 7.384 345,270 124,357 Investment income 2023 Total 2022 Total Bank interest receivable 1,228 76 1,228 76 Page 9
Friends Of Africa Missionary Endeavour Limited (A company ]imited by guarantee) Note5 to fjnancial statements for the year ended 31 March 2023 Taxation The charitys activities fall within the exemptions afforded by the provisions of tbe Income and CoryioTation T&xes Act 1988. Accordingly? there is no taxation charge in these accounts. Fixtures, rittings and equipment Tangible red assets Total Cost At l April 2022 and At 31 March 2023 12,652 12,652 Depreciation At l April 2022 12,652 12,652 At 31 March 2023 12,652 12,652 Net book values At 31 March 2023 At 31 March 2022 Debtors 2023 2022 Other debtors 6,149 7,384 Current asset investments 2023 2022 Listed investments 172253 189,574 Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income 1,588 1,571 Page 10
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 Analysis of net assets between funds Unrestricted funds Total funds Fund balances at 31 March 2023 as represented by: Current assets Current liabilities 559,896 (1,588) 559,896 (1,588) 558,308 558,308 10. Unrestricted fund5 At l April Incoming Outgoing 2022 resources resources At 31 Marc 2023 General Funds 416,360 346,498 (204,550) 558,308 11. Capital commitments The company had no capital cornmithients at the balance sheet dafr. 12. Related party transactions There were no related party transactions during the year 13. Controlling interest The controlling paty of the company is considered to be the Board of TThtees. 14. Company limited by guarantee Friends Of Africa Missionary Endeavour Limited ts a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while be or she is a member, or within one year after he or she ceases to be a member. Page 11
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) The following pages do not forni part of the statutory accounts.
Friends Of Afriea Missionary Endeavour Limited (A company limited by guarantee) Detailed statement of financial activlties For the year ended 31 March 2023 2023 2022 Incoming resources Incoming resources from generating funds: Voluntary income tncome received Gift Aid Legacies 102,082 6,149 237,039 116,973 7,384 345270 124,357 Invaslmenl income Bank interest receivable 1,228 76 1,228 76 Total incoming resources from generating funds 346,498 124,433 Totsl incoming resources 346,498 124,433 Resources expended Costs of generating fllnds: Cost of generatillg voluntsry income Donations Establishment - Project Work Other n]otor & travel costs Professional - Professional fees Telephone expenses Computer and l.T costs Promotional costs 162,388 8,912 1,410 365 2,200 11,712 148,469 1,187 1,800 368 1,477 8.292 186,987 161,593 Total cost of generating voluntary income Fundraising trading: cost of goods sold and other costs Total costs of generating funds 186,987 161,593 186,987 161,593 Page 13
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Detailed statement of fmancial activlties For the year ended 31 March 2023 2023 2022 CharitabIe activities GovernaDce costs Activities undertaken directly Bank charges 242 191 242 191 Support costs Support - Amounts written off l (on) investments 17,321 (964) 17,321 (964) Total governance costs 17,563 (773) Net incomingl(outgoing) resources for the year 141,948 (36,387) Page 14