Charity number: XR29780 Company number: N1035616 Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Trustees, report and fillancial statements for the year ended 31 March 2024
Friends Of Africa Missionary Endeavour Limited (A eompany Jimited by guarantee) Contents Page Legal and administrative inforniation Trustees, report Independent examiners, report Statement of fmancial 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 information Charity number XR29780 Company registration number N1035616 Registered office 25-27 Edward Street Portadown County Amiagh BT62 3NE Trustees David Garrett Rodney Davidson Jordan Davidson Jonathan Lockhart Gordon Martin Secretary Gordon Martin Accountallts S D Brown & CompaDy Carnegie Building 25-27 Edward Street Portadown Co Arn]agh BT62 3NE Bankers Danske Bank 35 High Street Newtowi)ards 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 ended 31 March 2024 The trustees present their report and the financial statements for the year ended 31 March 2024. The trustees, who are also directors of Friends Of Africa Missionary Endeavour Limited for the pUOseS of company law and who served during the year and up to the date of this report are set out on page l. Strllctiire> governance and management The Company is constitued by it's Memorandum and Articles of Association, and limited by Guarantee, having no Share Capital. Only persons who subscribe to the objects expressed in the Memorandum of Association of the Company, and are appointed by the Executive Committee, or the company in a General Meeting can be admitted as Tntees. RISKS The Executive Committee has conducted its review of the major risks to which the company is exposed, and systems have been established to mitigate those risks. In order to minimiz£ 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 implemented. Objectives and activities Principal Activity The principal activity of the charity is missionary work in Afric& Achievements and perforniance Many individua15 and their families have been aided through the work of the clinic in Kenya. 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 futsre perllods 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 Endeavour Limited (A company limited by guarantee) Report of the trnstees (incoryorating the directors, report) for the year ended 31 March 2024 Statement of trustees, responsibilities The trustee5 (who are also directors of Friends Of Africa Missionary Endeavour Limited for the purpose of comp law) are responsible for preparing the Tntees, Annual Report and the financial stafrments in accordance with applicable law and Unifrd Kingdom Generalty Accepted Accounting Practice. Company law requires the trustees to Prepare financial statements for each fmancial year which give a true and fair view of the state of affairs of the charitable company 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 trustees are required to: select suitable accounting policies and then apply them consistently. observ¢ 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 fancial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting 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 Act 2006. They are also responsil)le for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other iegular1ties. Small company provisions This report has been prepared in accordance with the provisions applicable to companies subject to the small Companies, regirne. On behalf of the board David Garrett Director 10 December 2024 Page 3
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Independent exa]niner's report to the trustees on tbe unaudited fmancial statements of Friends Of Africa Missionary Endeavour Limited. I report on the accounts of Friends Of Afrkca Missionary Endeavour Limited for the year ended 31 March 2024 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 examinatior4 it is my responsibilty to: l) examine the accounts under section 65 of the Charities Act 2) follow the procedures laid down in the generdl Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Acl 3) state whether particular matters have come to my attention. Basis of independent examiner's statement I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under 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 presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity twstees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: a) that accounting records were not kept in accordance with section 386 of the Compankes Act 2006 b) that the accounts do not accord with those accounting records c) that the accounts do not comply with the accDUDting 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 further InforntiOn needed for a proper understanding of the acwunts to be reached Independent esaminer'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 Irelan i have found no nmtters that require drawing to your attention. Samuel David BrowD Independent examiner S.D. Brown & Company Carnegie Building 25-27 Edward Street Portadown Co. Armagh BT62 31YE 10 Deeember 2024 Page 4
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Statement of rjnancial activities (incorporating the income and expenditure account) For the year ended 31 March 2024 Unrestricted funds 2024 Total 2023 Total Notes Incoming resources Incoming resources from generating fiu)ds: Voluntary incon]e Investment income 133,957 4,722 133,957 4,722 345,270 1,228 Total incoming resources 138,679 138,679 346,498 Resources expended Establishment Costs Motor and travelling expenses Professional fees Communications and IT Other office expenses Interest payable and similar charges Amounts written (on) / off investments Promotional costs 136,879 136,879 2,599 2,599 1,554 ,554 920 920 2,038 2,038 617 617 (14,613) (14,613) 5.801 5.801 162,388 8,912 1,410 365 2,200 242 17,321 11,712 Total resources expended 135.795 135,795 204,550 Net incomingl(outgoing) resourees for the year I Net incomel(expense) for the year 2,884 2,884 141,948 Total funds brought forward 558,308 558,308 416,360 Total funds carried forward 561,192 561,192 558,308 The statement of financial activities includes a]1 gains and losses in the year and therefore a separate statement of total recognised gains and losses bas not been prepared. All of the above amounts relate to continuing activities. The notes oll pag 8 to I I form all integral part of these financial statements. Page 5
Friends Of Africa Missionary Endeavour Limited (A company ]imited by guarantee) Statement of FiDancial Position as at 31 March 2024 2024 2023 Notes Current assets Debtors Investments Cash at bank and in hand 13.077 186,866 362,758 6,149 172.253 381,494 562,701 559,896 Creditors: amounts falling due within one year (1,509) (1.588) Net current assets 561,192 558,308 Net assets 561,192 558,308 Funds Unrestricted income funds 561,192 558,308 Total funds 561,192 558,308 The Balance Sheet continues on the following page. The notes on pages 8 to i i form an inteEf21 part of these financial statements. P2ge 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 2024 In approving these financial statements as trustees of the company we hereby confim that: (a) for the year the cornpany 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 directors acknowledge their responsibilities 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 subject to the small companies, regime. The fmancial statements were approved by the board on 10 December 2024 and Sied on its behalf by Director David Garrett The notes on pages 8 to 11 form integral part of these financial statements. Page 7
Friends Of Africa Missionary Endeavour Limited (A company linjited by guarantee) Notes to finallcial statements for the year ended 31 March 2024 Accounting policies The principal accounting policies are SummSed below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. Basis of accounting The fmancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prdctice 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. Friends of Africa Missionary Endeavour Ltd 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. 1.2. Cashflow The charity ha5 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 small charitable chaTity. 1.3. Fund accounting General fimds are unresiTiCted ndS 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 puLpose5. 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 categorie5 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 perfoTmance by the charity, 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. Gifis donated for resale are included as incoming resources within activities for oenerating fiu)ds when they are sold. Income from investments is included in the year in which it is receivable. Legactes 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 fjnancial statements for the year ended 31 March 2024 1.5. Resources expended Expenditure is recognised on an a¢¢nl basis as a liability is incurreil Expenditure includes any VAT which cannot be llY recovered, and is reported as part of the expenditure to which it relates. Costs of generdting funds comprise the costs associated with attracting voluntary income and the costs of trading for fiu]draising purposes including the charity's shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activÈties and s¢rvices for its beneficiarles. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project rnanagement. 1.6. Tallgible red assets and depreeiation 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 eacb asset over its expected use1 life, as follows: Fixtures. fittings and equipment 250/0 straight line Inv&stments Current asset investments are at the lower of c05t and net realisable value. Voluntary income 2024 TotAI 2023 Total Income received Gift Aid Legacies 127,029 6,928 102,082 6,149 237.039 133,957 345,270 Investment income 2024 Total 2023 Total Bank interest receivable 4,722 1228 4,722 1,228 Page 9
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Taxation The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordin?oly, there is no tsxation charge in these accounts. Fixtures, rittings and equipment Tangible fjxed assets Total Cost At l April 2023 and At 31 March 2024 12,652 12,652 Depreciation At l April 2023 12,652 12,652 At 31 March 2024 12,652 12,652 Net book values At 31 March 2024 At 31 March 2023 Debtors 2024 2023 Other debtors 13,077 6,149 Current asset investments 2024 2023 Listed investments 186,866 172,253 Creditors: amounts falling due Ithin one yeydr 2024 2023 Accrua15 and deferred income 1,509 1,588 Page 10
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Analysis of net assets between funds Unrestricted funds Total funds Fund balances at 31 March 2024 &s represented by: Current assets Current liabilities 562,701 (1,509) 562,701 (1,509) 561,192 561,192 10. Unrestricted funds At l April Ineoming Outgoing 2023 resourees resources At 31 March 2024 General Funds 558,308 138,679 (135,795) 561,192 11. Capital commitments The company had no Capital Con)mitments at the Balance Sheet date. 12. Related party transactions There were no related paty transactions duriDg the year. 13. Controlling interest The controlling party of the company is considered to be the Board of Trustees. 14. Company limited by gwarantee Friends Of Africa Missionary Endeavour Limited is a company limited by guarantee and accordingly doe5 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 he 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 guaralltee) The following pages do Dot fonn part of the statutory aeeounts.
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Detailed statement of financial activities For the year ended 31 March 2024 2024 2023 Incoming resources Incoming resources from generating funds: V(Jluntary income Income received Gift Aid Legacies 127,029 6,928 102,082 6,149 237,039 133,957 345,270 Investment income Bank interest receivable 4.722 1,228 4.722 1,228 Total incoming resources from generating funds 138,679 346,498 Total incomillg resources 138,679 346,498 Resources expended Costs of generating funds: Cost of generating voluntary income Donatio Establishment- Project Work Other motor & travel costs Professional Professional fees Telephone expenses Computer and I.T costs Promotional costs 136.879 2.599 1.554 920 2,038 5,801 162,388 8,912 1,410 365 2,200 11,712 149,791 186,987 Total cost of generating voluntary ineome Fundraising trading: cost of goods sold and other costs Totsl costs of generating funds 149,791 186,987 149.791 186,987 Page 13
Friends Of Africa Missionary Endeavour Limited (A company limited by guarantee) Detailed statement of fmancial activities For the year ended 31 March 2024 2024 2023 Charitable activities Governance costs Aciivilies underlaken directly Bank charges 617 242 617 242 Support cos15 Support - Amounts written off l (on) investtDents (14.613) 17,321 (14,613) 17,321 Total governance costs (13,996) 17,563 Net incomingl(outgoing) resources for the year 2,884 141,948 Page 14