Company registration number. N1645354 Charity regi5tt7tion number: 107975 New Ground Ireland Limited (A company limited by guarantee) Annual Report and Fitwkcial Statements for the Year Ended 30 April 2023 Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dunganno Co Tyron¢ BT717DH
New Ground Ireland Limited Contents Reference and Administrative Details Trustees, lieport 2to3 Independent Examin&s Report Ststement of Financial Activities Balau¢e Sheet Notes to the Financial Statenlents 7t0 12
New Ground Ireland Limited Reference and Administrative Details Charity RegistratioD Number 107975 Company Registration Number N1645354 The charity is incoryordt¢d ID Nortbern Irelan(L 6 The Meadows Registered Office Portadown BT62 IAJ Accountants Thom&8 Oliver and Associates Limited Certified Public Accountant I MDygLsbel Mills Park Dungannon Co TJTone BT717DH Page I
New Ground Ireland Limited Trustees, Report The trustees, who are directors for the purposes of company law, present the atfftual report together with the fmancial statements of the charitable company for the year ended 30 April 2023. Objectives and aetivities Public benefil The principal activities remain those of fund raising for religious and charitable purposes and focused on four key areas of Ministy: Disciple Maknng The primary ministy of New Ground Irelalld is to make disciples of Jesus who will also become disciple makers. Journeying one-on-one with people and training them to l¢ad discovery groups where some key contacts live. Training We have established strong friendships with partners in South Africa and USA. A key elen]¢nt of this was training trip to Durban, South Africa in August 2022. It's been great to glean training methods from them ond begin to introduce them in treland. As many of our contacts are spread actoss treland. it h&s been helpful to introduce a hybrid forn] of training during this period. As we meet in person with a team in one regio we have others join via zoom from multiple locations. As topics are dis¢ussel online and in person discussions can be hel¢ feedback is then given to the whole group. Another aspect of our training dwing this period has been helping various local churches to place disciple making at the heart of their ministy. Pioneering Outreach Ministy Our Trnrious pioneertng initiatives have continued during this perio& including in Co Donegal and Co Longfor(L Also to enable our pioneering work to grow in reach and consistency, we have begL to explor¢ establishing a base in Northern Ireland. To have a training base and ministy hub would be extren]ely beneficial to the wider work in a number of ways. Fund Raising During this pcriod we have been building r¢latiOn5hips with tndividuals,, Clwitable Trusts. churches and some businesses who have a desire to help finance our ministy. We have found this very challenging iknring this period. Tru5tee5 and officers The trustees and officers serving during the year and since the year end were &s follows: TTUStees: Mrs Karen Oliver Mr Andrew Murdock Mr David Legge Page 2
New Ground Ireland Limited Trustees, Report Structur4 governance and management Organuational structhre The rEitable company is a company limited by guardntee, not having sllare capital. The charitable company was estsblished under a Memorandum of Association which established the objects and powers of the clwltsble company and is governed under its Articles of Association. ststemellt oftrustees, responsibiIiti The truste¢s (wbo are also the directors of New Ground Ireland Limited for the PUTposes of company law) are responsible for preparing the tntees, report and the financial statemetkts in accordance with appltcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of ]reland" Company law requires the trustees to prepate financial statetnents for each fjnancial year. Under company law the trustees must not approve the financial statements unless they ate satisfied that they give a trne and fair view of the state of affairs of the charitable company and of tbe illcojning resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these flllancial ststements, the tteeS are required to: select suitable accounting policies and apply theni consistently> observe the methods alld principles in the Charities SORP. make judgements and estimates that are reasonable alld prndent: state whether applicable accounting standards, cotllprising FRS 102 hav¢ been followe subject to any material departures disclosed and explained in the flliancial stst¢ments' and pr¢par¢ the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitsble company and enable them to eDSUTe that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of thc cllaritable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and fanCIal inforniatioll included on the charitable comPanS website. Legislation governing the Preparation and dissemination of fU]cIal statements may differ from legislation in other jurisdictions. The annual report was approved by the tntse5 of the charity on 24 January 2024 and siglled on its be]lf by: Mrs Karen Oliv¢r Trustee Page 3
New Ground Ireland Limited Independent Examiner's Report to the trustees of New Ground Ire12Dd Limited ('the Company,) I report to the chaTity trustees on my examinatioll of the accounts of tbe Company for the year ended 30 April 2023. Respective respoThsibilities of tThteeS and examiner As tbe charity's trustees of New Ground Ireland Litllited (and also its directors for the Purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Having satisfied myself that the accounts of New Ground Ireland Limtted are not requir¢d to be audited under section 65 of Clwities Act (Northern) Ireland 2008 and that an independent exatnination is needed. It is my responslbility to:. - examine the accounts under section 65 of the Charities Act - to follow the procedwes laid down in the general Directions given by the Charity Conunissioll for Northern Ireland under section 65 (9)(b) of the Charities Act - to state whether particular matters have come to my attention Basis of IndepeDdent Eiaminers, Report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was Caled out ill accordance with tbe generdl Directions given by the Charity Con]mission for Northern Ireland under section 65(9)(b) of the chltieS Act. An exatnination included a review of the accounting records kept by the charity and a eompaTison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking expalnations from the trustees concerning ally such matters.. I confirm that no lltters have come to my atteDtion in connection with the examination giving me cause to believe: l. That accounting records were not kept in respect of New Ground Ireland Limited &8 required by section 63 of the Charitie5 Act" or 2. That the accounts do not accord with those 0rd8' or 3. That tbe accoullts do not comply with the accounting requirements of the Charities Act. 4. That there is fjjrther inforn]ation needed for a propeT und¢rstsnding of the accounts tobe reached. Independent Examiner's Statement I have completed my examination and have no concerns in respect of the matter (l) to (4) listed above and in connections with the following directions of the Charity Commission for Northern trelanl I have found no matters that require drawing to your attention Thomas Ol. 50ciates Limited ed Public Accountants 24 January 2024 Page 4
New Ground Ireland Limited Statement of Financial Activities for the Year Ended 30 April 2023 (Including Income and Expenditure Account and StateD]ent of Total Recognised Gains and Losses) Unrestricted rund$ Total 2023 Note Income and Endowments from: Donations and legacies 23,053 23,053 Total incom¢ 23,053 23,053 Expenditure OD: Raising funds Charitable activities Other expenditure (11,486) (464) {2.925) (11,486) (464) (2.925) Total expenditure (14,875) 14,875) Net income 8,178 8,178 Net movement ill funds 8,178 8.178 Reconciliation of funds Total funds brought forward 3,150 3.150 Totsl funds carried forward 15 11,328 Unrestricted funds 11,328 Totsl 2022 Note Income and Endowments from: Donations and legacie5 4,183 4,183 Total income 4,183 4,183 Expenditure OD: Charitable activities Other expenditure (165) (2.100) (165) (2,100) Total expenditure (2265) (2,265) Net income 1,918 1,918 Net movement in fiwds 1.918 1.918 Reconeiliation or runds Total funds brought forward 1.232 1232 Total fijnds caled forward 15 3.150 3.150 All of the charity's actkvities derive from continuing operations during the above two periods. The fund5 breakdown for 2022 is shown in nots 15. The notes on page5 7 to 12 forni an integrdl part of these fmancial statements. Page 5
New Ground Ireland Limited (Registration number: N1645354) Balance Sheet as at 30 April 2023 2023 2022 Note Fixed assets Tangible a55ets 12 6,204 993 Current assets Cash at bank and in hand 13 5,454 2.488 Creditors: Amounts falling due within one year 14 (330) (331) Net current assets 5,124 2,157 Net assets 11.328 3,150 Funds of the charity: Unrestricted income funds UDre5tricted funds 11,328 3.150 Totsl funds 15 11,328 3,150 For the financial year ending 30 April 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director5, responsibilities: The members have not required the clwity to obtain an audit of its accounts for the year in question in accordance with seGtion 476- and The directors acknowledge their re5pon5ibilities for complying with the requirem¢Dts of the Act wlth respect to coUnting records and the preparation of accounts. The financial statements on pages 5 to 12 were approved by the trust¢es. and authorised for issue on 24 January 2024 and signed on their behalf by: Mrs Karen Oliver Truste¢ The notes on pages 7 to 12 forni an inte part of these f]nancial statements. Page 6
New Ground Ireland Limited Notes to the Financial Statements for the Year Ended 30 April 2023 I Charity ststus The Charity is limited by guarantee. incorpordted ill Nortbern Irelall and consequentty does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil toward5 the assets of th¢ charity in the event of liquidation. The address of its registered office is: 6 The Meadows Ajjnaghmore Portadown BT62 IAJ These fmancial ststements were authorised for issue by the trustees on 24 January 2024. 2 Accounting policies Summary of significant accounting policies and key aeeoullting estimates The principal accounting policies applied ij) the preparntion of these financial statements are set out below. These policies have been consist¢lltly applied to all tbe ye5 presentel unless otherwise stated. Statement of compliance The finao¢ial statements have been prepared in accordance with Accounting and Reporting by Charities: ststement of Recommended Prnctice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (i55ued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable iti the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation New Ground Ireland Limited meets the definition of a public benefit entity under FRS 102. Assets and liabiIities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notcs. Going coDcern The trustees consider that there are no material uncertainties about the ¢lwitys ability to continue as a going concern uor any slgnificant areas of uncetsillty that affect the carying value of assets held by the charity. Income and eDdoYanents All inconle is recognised once the chaTity has entitlement to the income, it is probable that the incomc will be received and the amount of the income receivable can be measured reliably. Donations and legaci Donations are recognised when the clLarÉty has been notified in WTiting of both the amount and settlement date. In the event that a donation is subject to conditiolls that requi a level of perfoTDwre by the charity before the Clwity is entitled to the FLds. the income is deferred and not recognised until either those conditions are fillty meL or the flknent of those conditions is wholly within the control of the charity and it is probable that these conditions will be fifilled in the reporting period. Page 7
New Ground Ireland Limited Notes to the Financial Statements for the Year Ended 30 April 2023 Inves¢ment Income Dividends are recognised once the dividend has been declared and notification h&s been received of the dividend due. Expenditure All experAditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured Teliably. All costs are allocated to the applicable expenditure heading that aggregate similar Costs to that category. Where costs caDnot be dirertly attributed to particular headings tbey have been allocated on a basis consist¢nt with the use of resources, with central staff costs allocated on tbe basis of time spenL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raifin¥funds These are costs incurred in attracting voluntary income. the management of investments and those ]llcud in trnding activities that rdise fun(Ls. Governance ¢05ts These include the costs attributable to the clwity's compliance with constitutiotml alld statOry requirements, including audit, strategic nl8gement and tntee$ meetings and reinibursed expenses. Taxation Th¢ charity is considered to pass the tests set out iD Parngraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitsble company for UK COTporation tsx puryoses. Accordingly, the charity is potentialty exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corpordtion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible rued assets Individual fixed a55ets costing £250.00 or more are initially recorded at ¢os¢ less any subsequent accumulated depreciation and sub5e(went accumulated impairment losses. Depreciation aDd amortisation Depreciation 15 provided on tangible ftxed assets so as to write off th¢ cost or Valuatio less auy estimated residual value, over their ¢xpectsd useful economic life &8 follows.. Cash and cash equivalents Cash and Cash equivalents comprise cash on band alld call deposits, and other short-terni highly liquid investments that are readily convertible to a known amount of c&8h and are Subject to an insignificant risk of challge in vaIue. Page 8
New Ground Ireland Limited Notes to the Financial Statements for the Year Ended 30 April 2023 Borrowings Interest-bearing botrowings are initially recorded at fair value. net of traDsaction costs. tnterest-bearing borrowings are subsequently Carried at amortised cos¢ with the difference between the proceeds, net of transaction costs, alld the atnount due on redemption being recogllised as a chae to the Statement of Financial Activities over the period of the relevant boowing. Interest expense is recogThised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an wiconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income fi]nds are general fund8 that are available for use at the trustees discretion in furtherdnce of the objectives of the cEwity. 3 Income from donations and legacies Unrestricted funds General Total fund5 Donations and legacies. Donations from individuals/charitabl¢ trusts 23,053 23,053 Total for 2023 23,053 23,053 Total for 2022 4,183 4.183 4 Investment Rneome Total funds Total for 2023 5 Expenditure on raising funds a) Costs of generating donations and legacies Unre5tricÉed funds Genernl Total funds Note Other direct costs of generating voluntary income 11,486 11.486 Totsl for 2023 11,486 11,486 Pag¢ 9
New Ground Ireland Limited Notes to the Financial Statements for the Year Ended 30 April 2023 Total costs 6 Expenditure on charitable activities Unrestricted rullds General Total funds Note Gov¢rn3nce costs 464 464 Total for 2022 165 165 Total expenditure In addition to the expenditure analysed above, there are also governance costs of £464 (2022 - £165) which relate directly to clwitsble activities. See nots 8 for furth¢r details. 7 Other expenditure Unrestricted funds General Total funds Note Depreciatio amortisation and other similar costs Other resources expended 2,084 2,084 Totsl for 2023 2,925 2,925 Total for 2022 2,100 2,100 8 Analysis of governanee and support costs Governance costs Unrestricted funds General Total funds Independent examiner fees Examination of tbe financial ststsments Otber governance costs 420 44 420 Totsl for 2023 464 464 Totsl for 2022 165 165 Page 10
Neiv Ground Ireland Limited Notes to the Financial Statements for the Year Ended 30 April 2023 9 Trustees remuneration and expenses No trustees, nor any persons connected with the have received any r¢muDeration from the charity during the year. 10 IndepeDdent examiner'5 remuneration 2023 2022 EXlatIon of the financial statements 420 120 11 Taxation The charity is a registered charity and is therefore ¢xeTnPt from taxation. 12 Tangible r]xed assets Furniture and equipment Total Cost At l May 2022 Additions 1,413 6,052 1,413 6,052 At 30 April 2023 7,465 7.465 Depreciatio At l May 2022 Charge for the year 420 420 841 At 30 April 2023 1,261 1.261 Net book value At 30 AprÉl 2023 6.204 6.204 At 30 ApTiI 2022 993 993 13 Cash and eash equftvalents 2023 2022 Cash at bank 5,454 2.488 Pagell
New Ground Ireland Limited Notes to tbe Financial Statements for the Year Ended 30 April 2023 14 Creditors: amounts falling due within one year 2023 2022 Trade creditors ACcnlS 330 330 330 331 15 Funds B8lallce at I May 2022 Incoming resources Rosources expended Balance at 30 April 2023 Unrestricted funds General 3,150 23,053 (14,875 11,328 Balance at I May 2021 Incoming resources Resources expended Balance at 30 April 2022 Unrestrieted funds General 1.232 4.183 (2265) 3,150 16 Analysis of net assets between funds 17 Analysi5 of net funds Flnancing easb flows At 30 April 2023 At l May 2022 Cash at bank and in hand 2,488 2,966 5,454 Net debt 2,488 2.966 Financing cash flows 5.454 At 30 April 2022 At l May 2021 Cash at ballk alld in hand 976 1,512 2,488 Net debt 976 1,512 2,488 18 Related party transactions There were no related paty transactions in the year. Page 12