Compai)y registrdtion number.. N1649755 Charity registration number.. 108029 Drop Inn Ministries Limited (A company limited by guarantee) Annual Report and Financial Statements for th¢ Year Ended 30 September 2024 David Lyttlc & Co Ltd Station House 46 Molesi¥'orth Street Cookstown Co Tyrone BT80 8PA
Drop Inn Ministries Limited Contents Reference and Administrative Details Trustees, Report 2to4 Ind¢pendent Auditors, Report 5t07 Statement of Financial Activities 8t09 Balance Sheet 10 Statement of Cash Flows Notes to the Financial Statements 12to24
Drop Inn Ministries Limited Reference and Administrative Details Trustees Mr Neville Gartland Mr Ronald Dawson Mr Thomas Stewart Mr Michael Rollo Secretary Mr Thomas Stewart Charity Registration Number 108029 Company Registration Number N1649755 The charity is incorporated in Northern Ireland. 24 Ballyleny Road Richhill Co Am]agh BT619LS Registered Office Auditor David Lyttle & Co Ltd Station House 46 moleS,0rth Street Cookstoivn Co Tyrone BT80 8PA Page I
Drop Inn Ministries Limited Trustees, Report The trustees. ,hO are directors for the purposes of company law, preseni the annual report together with the financial Statements and auditors, report of the ¢haritable companv for the year ended 30 Septetnb¢r 2024. Objectives and Activities Objects andaims The company's objects are". To advance the Christian religion for the benefit of the public in the area of benefit Associating togeiher the said inhabitants and the lo¢al authorities voluntary and other organisations in the area of benefit in a common effort to relieve poverty and advance education and to provide faeilities in the interests of welfare with the obj¢¢t of improving the Conditions of life for the said inhabitants Public benefii The principal aetivites of the charity are to equip and mobilise people for mission and lo bring hope, help and healing to the hurting ivorld through the operation of various humanitarian projects. The projects are financed through surplus finds generated by the operation of numerous charity shops, various donations. sponsorship and fundraising acrivities. The trust¢es confirm that they have complied with the requirements of the Charities Act (Northern Ireland) 2008 to have due regard to the public benefit guidance published by the Charity Commission for Northern Ireland Trustees and officers The trustees and officcrs s¢rviiig during the year and since the year end were as follows: Trustees: Mr Neville Gartland Mr Ronald Dawson Mr Thomas Stewart Mr Michael Rollo Secretary.. Mr Thomas Stewart Stru¢ture? governance and management Nre ofgoverning docuNwnl The charity is registered with the Charities Comtnission for Nonhern Ireland (Registered Number 1016941. The company is ontrolled by its trustees ivho are directors of the company for the purposes of the Cotnpanies Act 2006 and its governed by the provisions contained in the Memorandum and Articles of Association. All trust¢es are members and dire¢lors of the Charitable Company and stand as guarantors of the charitable company in the sum of£ IOe&ch. Headquarters During 202312024 Ballyards Castle continued to be the head office of all Drop Inn Projects. The facilities at Ballyards allowed the charity to h05t prayer events. retreats. Christian conf¢rences and visits from missions team and project partners from various nations. Page 2
Drop Inn Ministries Limited Trustees, Report Finances During this financial year we continued to see a steady, and at time strong financial performance in our charity shops, Ivith the development of some new, stores. including outlct siores that sell off stock at reduced cost. The income base is steadily growing from local support to provide assitance internationally in 30 different nations and continue iith capital acquisition to aid the long-terni stability of the charity The charity endeavours to keep a prudeni aFnount in reserve for cash flow purposes bul mosi funds are spent in the short terni. International Missions During the y¢ar, members of the board and senior leadership team we have been able lo visit internatitsnal partners, revieiv projeet work and provide increased leadership support to projects. These visits are a great source of encouragement to our international partners. Shon-terni mission experiences often lead lo increased prayer support for Drop Inn as well as an increas¢ in Child Sponsorships and giving to the various projects ptople visit. A continued aspect of inicrnational support this year. has been ongoing support to project partners in Ukraine, helping them address the humai)ilarian crisis that has taken place as a result of the war. Local Missions Local Outreach Ministric5- Our team continue: as appropriaie, to visit local people in need and offer practical support This helps to connect disenfranchised people '1th other organizations such foodbanks. social workers etc. This serves to provid¢ a servi¢¢ to bring immediate need as ii'ell as ¢ontinuation of support to facilitate positive outcomes within our local communitv. In addition we have been able to partner with the Soiithem Trust to offer support to unaccompanied minors arriving in Northern Ireland from nations wherc their lives would have been a( risk. Drop Inn partners with Grace Community Church in Richhill. to operate a youth outreach in 'The Hub. as well aq a Drop Inn Centre for youth on Thursday night5. Different Staff and voluntcers offer a safe plaee for local youth io connect to positive resources and mentors. Three of our main focuses locally Consist of.. Aspire Nl. J29. and Reach. Statement of trustees, responsibilities The trustees IH,ho are also the director5 of Drop Inn Ministries Limitcd for the purposes of company law} are responsible for preparing the tru5tees' report and the financial statetnen15 in accordan¢e with applicable law and United kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicc}. including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the tnislees must not approvc the financial siatem¢nts unlcss thcy are satisfied that thev 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 its income and expenditure. of the charitable companv for that period. In preparing these financial sraiements. th¢ trust¢es required to- select suitable accounting policie5 and apply them consistcntly. observe the mcthods and principle5 in the Charities SORP. make judgements and estimates that are reasoiiable and prudent: state whether appli¢able accounting standards. comprising FRS 102 have be followed. subject to any material departures disclosed and explained in the finan¢ial statcmenls- and prepare the financial stateFnents on the going concern basis unless il is inappropriate to presume that the charitable ¢ompany will continLie in business. Page 3
Drop Inn Ministries Limited Trustees, Report The trusiees ar¢ Tesponsible for k¢eping proper accounting records that can disclose with reasonable aceuraey at any time the fInancial position of the charitable eompany and enable them to ¢nsur¢ that th¢ financial statements comply with the Companies Act 2006and Charities Act (Northern Ireland) 2008. Th¢y are also responsiblc for safeguarding the assets of the charitable company and hen¢¢ for taking ffasonable steps for the prevention and dete¢tion of fraud and other irregularities. The trustees are responsible for the m3inten2n¢e and integrity of the corpoTaie 2nd financial infomiation included on the charitable ¢ompaDv's i¥ebsite. Legislation governing the preparation and dissemination of financial statements mav differ from legislation in other jurisdictions. Disclosure ofinforn7ation to allditor Each trustee has taken slep5 that they ought to have taken as a trustee in order to make Ihcmselve5 aware of any relevant audit infonnation and to establish that the charity's auditor is aware of that infortnation. The trustces confirm thai there is no relevant infonnation that they know of and of M,hich they know the auditor 15 unaware. The annual report was approved by the trustees of the charity on 23 July 2025 and signed on it5 behalf by: Mr Ronald Dawson Truste¢ Pag¢ 4
Drop Inn Ministries Limited Independent Auditor's Report to the Members of Drop Inn Ministries Limited Opinion We have audited the financial statements of Drop Inn Ministries Limited (the 'charity') for the year ended 30 September 2024 vhich comprise the Statement of Financial Activities, Balance Sheet. Statement of Cash Floi¥'s, and Notes to the Financial Ststcments. including a summary of significant accounting policies. The financial reporting frameivork that been applied in their preparation is United Kingdom Aecounting Standards. comprising Chariiies SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally A¢cepted Accouniing Practice). In our opinion the financial statements.. give a tru¢ and fair vieii, of the state of the ehariry's affairs as at 30 S¢pEember 2024 and of its incoming resources and application of resources: including its income and expenditure. for ihe year then ended.. have been properly pr¢pared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in aecordance Nvith the requirements of the Cotnpanies Act 2006. Basis for opinion We conducted our audit in accordance with Inlcrnational Standards on Audiiing (UK) (ISAS (UKII and applicable law. Our responsibilitie5 under those standards are further described in the aLiditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of th¢ financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in a¢¢ordan¢¢ with these requirements. We believe that thc audir evidence we have obtained is sufticient and appropriatc to provide a basis for our opinion. Conclusions Telating to going concern In auditing the financial statements. we have concluded that the trustees use of the going concern basis of accounting in the preparation ofthe financial statements is appropriate. Based on the ivork we have p¢rfomied. we have not identified any material uiicertainlies relating to events or conditions thaL individually or collectively, may cast Signiticlt doubt on the ¢17aritv's ability to continue as a going concern for a period of at least twelve months from when the original financial statetnents w¢re authoris¢d for issue. Our responsibilities and the responsibiliti¢s of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infomjation. The other inforniation comprises the infornialion included in the annual report. other than the financial statements and our auditor's report thereon. Our opinion on the financial ststements do¢s not cover the other information and. exc¢pi to the extent otherwise explicitly stated in our report we do not express 8ny fornj of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibiliti* is to read the other information and. in doing so, consider whether the other intormation is tnaterially inconsistcnt w'ith the financial statements or our knoivledge obtsined in the audit or tstheN'ise appears to be materially tnisstated. If w¢ identify such material inconsistencies or apparent material misstatements, M'e are required to detern)ine ii,hether ther¢ is a material misstatement in the financial statements or a material misstatement of the other inforniazion. If: based on the work we hav¢ pertomied. we conclude that there is a material missiatem¢nt of this other infom)ation, Ive are requircd to report that fact. W¢ have nothing to report in this regard. Page 5
Drop Inn Ministries Limited Independent Auditor's Report to the Members of Drop Inn Ministries Limited Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the inforniation given in the Trustees, Report for th¢ financial year for which the financial Statements are prepared is consistent with the financial stat¢ments= and th¢ Trustees, Report has been prepared in accordance with applicable legal requir¢m¢nts. Matters on whieh we are required to report by exception In the light of our knoii,ledge and undcrstanding of the charity and its environment obtained in the eourse of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respeci of the following matters where the Companies Act 2006 requires u5 to report to you if, i our opinion.. adequate accounting records have not been kept, or returns adequate for our audit hav¢ noi been received from branches not visited by us: or the financial statements are not in agreement with the accounting records and returns: or certain disclosures of trustees remuneration specified by law are not made; or we have not received all the inforniaiion and explanations we requir¢ for our audit. Responsibilities of trustees As explained more fully in the Statement of irust¢¢s' responsibilities {sei out on page 3 and 4), the trustees are responsible for the prepardtion of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees deterniine is necessary to ¢nable the preparation of financial slatem¢nts that are fr¢¢ from material misstatement, whether due to fraud or crror. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to ¢ontiniie as a going concern. disclosing, as applicable. mattcrs related to going concern and using the going conccni basis of a¢counting unless the trustees either intend to liquidate the charity or to cease operations. or hav¢ no realistic alternative but to do so. Auditor responsibilities for the audit of the financial stateTnents Our objectives are to obtain reasoiiable assuian¢e about whether the financial Statements as a whole ar¢ free from material misstalctnenL wh¢ther due to fraud or error: and to issue an auditor's report that includes our opinion. Reasoiiable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always deteci a material misstatement ivhen it exists. Misstatements can aris¢ from fraud or error and are considered mat¢rial if. individually or in the aggregat¢. they could reasoiiably be expected to influence the econotnic decisions of users taken on the basis of these financial statement5. The extent to which our pro¢edures are eapable of detecting irregularitle5. including fraud is detailed below.. As part of an audit in accordance with ISAS (UKI. we exercise professional judgement and maintain professional seepticism throughout the audii. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error. design and perform audit procedures responsive to thos¢ risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not det¢cling a material misstatement resulting from fraud is higher than for one resulting from error: as fraud may involve collusion. forgery. intentional otnissions. misr¢presentation5. or ihe override of intemal Control. Obtain an understanding of internal control relevant to ihe audit in order to design audit procedures that are appropriate in the circumstances. bul not for the purpose of expressing an opinion on the effectiveness of the charity's internal eontrol. Evaluate the appropriateness of accounting poli¢ies used and the reasonableness of accounting esiimatrs and relat¢d disclosures made by the trustees. Page 6
Drop Inn Ministries Limited Independent Auditor's Report to the Members of Drop Inn Ministries Lilnited Conclud¢ on the apprc*priateness of the truste¢s use orth¢ goinu ¢oncern basis of accounting and. based on ihe audii evidence obtained, ii.hethcr 8 mat¢riil uncertainly exists rcloted to ¢v¢nis or COTJdition5 thai rnas, cast significant doubt on ihe charity's abilitj to ntinUe as a going concem. If ive conclude Ihai a rnatcrid uncertainly 1St$. w¢ Bre required to drdi¥ attention in our auditor's ffport to th¢ relaied dis¢losuTes in the findncial 5taiements or, if5uch disclosur¢s are inadequate, ia modify our opinion. Our eon¢lu55ons are based on the audir evidene¢ Csbtain¢d up to the dat¢ of our auditor's T¢POrt. However, future events or ¢ondilTuns may cause the charity to cease to eonrinu¢ as a going concern. E¥4luaie th¢ ovtrall psentaL10n. siru¢ture and content of the finAncial 5tatemen(s, including the disclosure5, and whether the rinancial ststemenis repr¢s¢nt the underlyinu transaciitsns and evenis ill a Tnanner tliat achi¢ves fEif PTE5enMioJi. Obt?in sutTi¢i¢nt appropriate audil eYid¢fjce r¢garding the finau¢ial infonnation of the eoritie3 or business activities i¥irhin the charity lo ¢¥press an opinion on the financial stat¢rncnts. We are wsponsible for the diRction. supervision and Perf0nnCe of rhe charity &udil. We remain solelv responsible for our audii opinion. We communicaEe Wtth those ¢harged ivith ¢sovcman¢e rcgarding. atnong other matteT4 the plaftned scope and timing ofthe audit 8n4 signifi¢ant audit finding$, inchdin8 any significant defieienci¢s in internal control that ,¢ idenrlfy dLiring our aiidiL Use of our report m)is report is Made ]elY to the ¢harit8ble companv's tnJ5tees. as a body. in Èccordzn¢e ifvith Chapter J of Part 16 of the Comp8nies A¢( 2006. Our audit work ha5 und¢rlaken si) that mighi stale to the chaThty'5 trusi¢e5 thos¢ m8tler5 are required to sraie to the OT sume reswnsibi in an audiiof'5 Teporl and for no oiher purpose. To the lIest extent p¢rmitted by law, we do noi accepi rt, or fgr tile opi io anyon¢ other ihRn Ihe charitable company and its trustees as a body, for our audit wort for thi5 $ we h8¥e fomied. t¢phen M¢Geagh (Senior Slailltory Auditor? For and on half0r David Lyttl¢ & Co Ltd, Siawtory Auditor Stsiion House 46 MoleNnI) Sir¢et Cookstown Co Tvrorte BT80 8PA 23 Julv 2023 Pagc 7
Drop Inn Ministries Limited Statement of Financial Activities for the Year Ended 30 September 2024 (Including Income and Expenditure Account and StateEllent of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Tot21 2024 Note Income and Endowments from: Donations and legacies Other trading activities Invesknent income Other income 47.415 2.580.438 10.200 42,573 89.988 2,580.438 10.200 3.968 3,968 Total income 2,638.Oi3 46,541 2,684.594 Expenditure on: Raising funds Charitable activities (2.075,895) 1393.1301 11531 {90,19?1 (2,076,048) 1483.3221 Totsl expenditure 12,469.02)) (90.345) 12.559,3701 Net income/(expenditure) Net movement in funds 169.028 (43.8041 125.224 169.028 (43,8041 125,224 Recon¢iliation of funds Total funds brought fonvard 963.365 80.042 1.043.407 Total funds carried forw'ard 22 1,132,393 Unrestricted fund5 36.238 Restricted funds 1,168.631 Total 2023 Note Income and Endowments from: Donations and legacies Other trading activities Investment income 42.203 2,518.517 3,600 52,028 94.231 2.518.i17 3.600 Total income 2.564.320 52.028 2.616.348 Expenditure on: Raising funds Charitable activities {1.957.9281 {441,9171 {15) 137,03?) {1.957.943) 1478.949) Total expendifure (2.399.845) {37,047) 12,436:89?1 Net income 164.475 14.981 179.456 Nct movem¢nt in funds 164.475 14.981 179.456 Reconciliation of funds Total funds brought forward 798.890 65,061 863.951 Total funds Caled fonvard 22 963.365 80.042 1,043.407 The notes on pag¢s 12 10 24 forni an integral part of th¢se financial statements. Page 8
Drop Inn Ministries Limited Statement of Financial Activities for the Year Ended 30 September 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 20?3 is shown in note 22. The notes on pages 12 to 24 form an integral part of these financial statements. Page 9
Drop Inn Ministries Limited (Registration number: N1649755) Balance Sheet as at 30 September 2024 2024 2023 Note Fixed assets Tangible assets Investments 15 16 1,008.680 20J,910 556.788 106.041 1.212.590 662.829 Current assets Debtors Cash at bank and in hand 17 33.978 165.658 10.879 627,109 18 199,636 637,988 Creditor5: Amount5 falling due within one year Net eurrerst assets 19 172,1261 (79,851) 127.510 558, li7 Total asset5 less turrent liabilities 1,)40.100 1.220.966 Creditors: Amounts falling due after more than one year Net assets 20 171.469} 1177.559) ,168,631 1,043,407 Funds of the ch*rity: R¢strTCted income funds Restricted funds 36,238 80,042 Unrestricted income funds UnTCStricted funds l.lJ2.393 96J.365 Total funds 22 1,168,631 1.043.407 The financial statements on pages 8 to 24 were approved by the trust¢es, and authorised for i55ue on 23 July 2025 and signed on their behalf by.. Mr Ronald Daiv50n Trustee The notes on pages 12 to 24 form an integral part of these financial staternents. Page 10
Drop Inn Ministries Limited Statement of Cash Floivs for the Year Ended 30 September 2024 2024 2023 Note Cash flows from operating activities Nei cash income 125,224 179,456 Adjustments to cash flows from nonrycash items Depreciation Inve5tm¢nt income 41.289 {10.200) 31.365 {3.6001 156,313 207.221 Working capital adjustments {InCree)1decr¢ase in debtors Decrease in cr¢ditors 17 19 (23.099) 17.725) 28,167 (5.634) Net cash floivs from operating activities 125.489 229.754 Cash flows from Investing activities Inierest rcceivable and sitnilar incom¢ Purchase of tangible f]xed assets Purchase of investments 10,203 {493.181} 197.869) 3,598 (109,492} (106.041} 15 16 Nel cash flow5 from inyesiing activities {580.8471 (?11:935} Cash flows from financing activitie5 Repayment of loans and borrowings 19 16,0901 (8.0891 Net {decreaseyincr¢ase in cash and ¢ash equivalents Cash and cash equivalents at l October 1461.448) 9.730 627.106 617.376 Cash and ¢&sh equivalents at 30 September 16i.658 627.106 All of the ¢ash flou's are derived from continuing operations during the above N'o periods. The notes on pages 12 to 24 form an integral part of these finan¢ial starements. Page 11
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 I Charity status The charity is limited by guarantee, incorporated in Northem Ireland. and consequently does not have share capithl. Each of the trustees is liabl¢ to contribute an amount not exceeding £10 towards the asscts of the charity in the event of liquidation. The address of its registered office is= 24 Ballyleny Road Richhill Co Am)agh BT619LS These financial ststements ll'ere authorised for issue by the trustees on 23 July 20?5. 2 Accounting policies Summary of significant ateounting polieies and key accounting estimates The principal ac¢ounting policies applied in the preparation of thes¢ financial statements are set out below. These policies have been consisrentlv applied io all the y¢ars presented. unless oihenvise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of R¢comtnended Practice (applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Siandard applicable in th¢ UK and Republi¢ of Ircland IFRS 1021} {issued in October 2019) - (Charities SORP (FRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Aet 2006. Basis of prepargtion Drop Inn Ministries Limited meets the definition of a public b¢n¢fit entity under FRS I O? Asseis and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees Consider that there are no material uncertainties about the charity's ability to continue as a going con¢em nor any significant areas of uncertainN that affect the canying value of assets held by the charity. Income and endowments All income is recognised on¢¢ the charity has entitlement to the income, it is probable that the income will be received knd the amount of the income receivable can be measured reliably. Donalions and legacie5 Donations are recognised ivhen the charity has been notified in writing of both the amount and sertl¢ment datc. In the event that a donation is 5ubj¢¢t io conditions that require a level of perforfflance bv the ¢harity before the charity is entitled io the funds. the income is deferred and not reeognis¢d until either those condiiions are fully meL or the fulfilment of those conditions is wholly within the control of the ¢harity and it is probable that these conditions will be fulfilled in the reporting period. Page 12
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Expenditure All expenditure is reeognised on¢¢ there is a legal or constructive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocaied to ihe applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directlv attribiited to particular headings the! have been allocated on a b15 consislent ivith the use of resources, with central staff costs allocated on th¢ basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Other suppoff costs are allocated based on the Spread of staff costs. Rttisingfunds These are costs incurred in attracting volunthry ineome. the management of investments and those incurred in trading activities that raise furkds. Charilable accivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both cost5 that can be allocated directly to such activities and those costs of an indirect nature necessary to support Ihetn. Support Costs Support ¢osls include central functions and have been allocated to aelivity cost categories on a basis Consisrent ii'ith the use of resources. for example, allocating property ¢osts by floor areas. or per capiia staff costs by the time spent and other costs bv their usage. Govern#n£e e05ts These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including auditi strategi¢ management and trustees meetings and reimbursed ¢xpens¢s. Taxation The charity is considered io pass the tests set out in Paragraph I Sehedule 6 of the Finan¢e A¢1 2010 and therefore it mccts thc definition of a eharitable companv for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains re¢¢ived within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the T&xalion of Chargeable Gains Act 199? to the extent that such ineome or g8iiis are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed setS eosting £250.00 or more are initially recorded at cosL less any subsequcnt accumulated depreciation and subsequent accumulated impairnient loss¢s. DepTeciation and amortisation Dcprcciation is provided on tangible fLied assets so as to write off the cost or valuation. less estimaied residual value. over their expected uscful economic life as follows.. Asset class Freehold buildings Plant and machinery Fixtures and fittings Motor vehicles Depreciation method and rate 4 0/ts straighi IiT]e 25 % reducing balance I OV/0 reducing balance 20O/0 Straight line Page 13
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Investment properties Investment property is carried at fair value. derived from the ciirrent market prices for comparable real estate del¢miined annually bv ¢xi¢mal valuers. The valuers use observable market prices. adjusted if necessary for any difference in the natur¢: location or condition of the specific asset. Changes in fair value are recognised in profil or loss. Cash and cash equivalents Cash and cash cquivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a knoivn aJntsunt of ¢ash and are subj¢¢t to an insignifi¢ant risk of change in value. Trade creditors Trade creditors are obligations to pav for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabiliiies it the charity do¢s not have an unconditional right. at the end of the reporting pcriod: lo defer settl¢inent of the creditor for at least N¥¢lve months after the reporting date. If there is an un¢onditional right to defer settlement for at least twelve months afier th¢ reporting date. they are presented a5 non-current Trade creditors are reeognis¢d initially at the transaction price and subsequ¢ntly measured at amortised cost using the effective intcrest method. Borrowings Interest-bearing borroivings are initially recorded at fair value. net of trdnsa¢tion eosts. Interesl-bearing borrowings are subsequently Caled at amortised cost. with the difference beteen the proceeds. net of transaction costs. and the amount due on redemption being recognised as a charge to the Statemeni of Financial Activities over the period of the relevant borrowing. Interest expens¢ is recognised on Iht basis of the eftective ini¢rcst method and is included in interest payable and similar charges. Borrowings are classified as curreni liabilities unless the charity has an unconditional right to defer s¢rtl¢m¢nl of the liability for at let twelve months after the reporting date. Foreign ex¢hange Transactions in foreign currencies are recorded ai the rate of exchange at the date of thc transaction. Monetsrv assets and liabilities denotninated in foreign currencies at the balance shect date are reported at the rat¢5 ofexchange prevailing at that datc. Fund structure Unrestricted income funds ar¢ general funds that are available for use at the truste¢s discretion in furtherance of the obje¢tives of the charity. Resiricted income funds are those donat¢d for use in a particular area or for specific purpos¢s, th¢ use of which is restricted to that area or purpose. Pension5 and other post retirement obligations The charity operates a defined contribuiion pension scheme which is a pension plan under which fixed contributions arc paid into a pension fund and the charity has no legal or constructive obligaiion to pay furcher contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial A¢iivilies when they are due. If contribution payments ¢xceed th¢ coniribution due for service. the exccss is recognised as a prepayment. Page 14
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Financial instruments clSIfIcall0 The charity only has financial setS and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially re¢ognised at trdnsaction value and subsequently measured at their settlement value. 3 Income from donations and legaeies Unre$tri¢ted funds General Restricted funds Total funds Donations and lega¢ies: Gifts and Church tythes Gifts received for Humanitarian aid 47,415 47.415 42.573 42.573 Total for 2024 47.415 42.573 89.988 Total for 2023 42.203 i2.028 94.231 4 Income from other tradfftng activities Unrestricted funds General Total funds Trading income.. Shop income from sale of donatcd goods and services Hire of Ballyards 2.573.938 6.500 2.573.938 6.500 Total for 2024 2,580.438 2,580.438 Total for 2023 2,518,517 2,518.517 Page 15
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 S Investment income Unrestricted funds Gener81 Total funds Income from rents 10,200 10.200 Total for 2024 10,200 10.200 Total for 2023 3,600 3,600 6 Expenditure on raising funds a) Costs of tr8ding aetivities Unrestricted funds General RestrTeted funds Total funds Note Depreciation, amortisation and other similar costs Other dire¢t Costs of activities for generaiing funds Allo¢atcd support ¢05ts 41.288 619.562 3.644 41.288 619.71) 3,644 153 Total for 2024 664,494 153 664.647 Total for 2023 640.124 15 640.139 Page 16
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 7 Expendithre on charitable activities UnrestrTCted funds General Restricted funds Total 2024 Note 379.762 13,368 90.192 469.954 13.368 Governance costs 393.130 90,192 483.322 Unrestricted funds General Restricted funds Total 2023 Note 431.191 10.726 Govemance costs 37,032 468.2?3 10.726 441,917 37.032 478.949 2024 Activity Support ¢ost5 2023 Mission expenses 468,223 468.223 In addition 10 the expenditure analvsed above. there are also governance costs of £13.36812023 - £10.7261 which relate directlv lo charitable aclivilies. Se¢ note 8 for further details. Page 17
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 8 Analysi5 of governance and support co$t$ Governance costs Unrestrieted funds General Total 2024 Audit fees Audit of the financial statements Ind¢pendent examiner fees Preparation of annual accounts Legal fees 3,050 3,050 4.600 5,718 4,600 5.718 13,368 13.368 Unrestricted funds General Total 2023 Audit fees Audit of th¢ finaneial statements Independent examiner fees Other fees paid to examiners Legal f¢es 2.330 2.330 4.045 4.351 4.045 4.351 10.726 10.726 9 Net incomingloutgoing re50urc¢s Net incoming resources for the year include.. 2024 2023 Audit fees Depreciation of fiked assets 3,050 41.288 2.330 31.365 10 Trustees remuneration and expenses During the year the charity made the following transactions i%'ith trust¢¢s'. Mr Ronald Dawson Mr Ronald Dawson received remuneration of £42,423 (2023.. £41,886) during the year. Page 18
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 I I Staff costs The aggregate payroll costs were as follows-. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs Other staff costs ,311.718 83.949 15.574 160 1.228.342 74.595 14,815 52 1,411.401 1.317.804 No employee received emoluments of more than £60.000 during the year. 12 Independent examiner's remuneration 2024 2023 Other fees to examiner5 Preparation of annual accounts 4,600 4.045 13 Auditors, remuneration 2024 2023 Audit of the financial statements 3.050 2.330 14 Taxation The charity is a registered charity and is therefore exempt from tsxation. Page 19
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 15 Tangible fixed assets Land and buildings Furniture and equipment Motor vehicl Total Cost At l October 2023 Additions 507,818 460,227 92,157 4.959 44,302 27.995 644.277 493.181 At 30 September 2024 968.04) 97,116 72,297 1,137.458 Depreciation At l October 2023 Charge for the year 38,355 20,313 32,768 6.671 16.366 14.305 87,489 41.289 At 30 September 2024 58,668 39.439 30.671 128.778 Net book value At 30 S¢piember 20?4 909,377 57,677 41.626 1,008.680 At 30 S¢pt¢mber 2023 469,463 i9.389 27.936 556.788 16 Fixed asset investments 2024 2023 Investm¢nt properties 203.910 106.041 Page 20
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Investment properties Investment properties Cost or Valuation At l October 2023 Additions 106.041 97.869 At 30 September 2024 203.910 Provision At 30 September 2024 Net book value AI 30 Scptember 2024 203.910 At 30 SepieTnber 2023 106.041 The investment propety was pUrChed during the financial year. The property was valued on 30th September 2024 by the directors .hO are iniemal to the companv. The basis for this valuation was fair value. The directors do not beli¢ve ihai there is a material diff¢r¢nce betwe¢n th¢ current mark¢i value and the iniiial purchase price of the property. The valuation ivas made on an open market value basis by reference to tnarket evidence of transaction prie¢s for similar properties. 17 Debtors 2024 2023 Prepayments VAT recoverable Other debtors 12.193 20.749 1.036 9.494 1.385 33.978 10.879 18 Cash and cash equivalent5 2024 2023 Cash on hand Cash at bank 30.163 135.495 10.543 616.563 165,6)8 627.106 Page21
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 19 Creditors: amovnts falling due within one year 2024 2023 Bank loans Trade Creditors Other taxation and social security VAT creditor Other creditors Accruals 23.640 5,941 19,705 23.640 13.943 17.671 1,702 3.322 19.573 2,642 20.198 72.126 79.851 Creditors du¢ within one year ineludes the following liabilities. on ii,hich security has been given by the charity.. 2024 2023 Bank Loan 23,640 23.640 20 Creditors: #mounts falling due after one year 2024 2023 Bank loans 171,469 177.559 Creditors amounts falling due after more than one year includes the folloiving liabilities. on which security has been giv¢n by the charity.. 2024 2023 Bank Loan 171,469 177,559 The bank loan liabiliry relates to a legal mortgage and commercial all monies charge over propeny at 71 79 Arniagh Road. Portadown. 21 Pension and other schemes Defin¢d contribution pension scheme The charity operates a defined contribution pension s¢heme. The pension cost charge for the year represents contribution5 payable bv the charity to the scheme and amounted to £15.57412023 - £14.8151. Page 22
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 22 Funds Balance at I October 2023 Incoming resources Resources expended Balance at 30 September 2024 Unrestricted funds Gen¢ral 963,36) 2.638,053 (2,469,025) 1,132.393 Restricted funds 80.042 46,541 (90,3451 36.238 Total funds .043.407 2.684.594 {2.559,370) 1,168.631 Balance at I Oetober 2022 Incoming resources Resources expended Balance at 30 September 2023 Unrestricted funds Gencra] 798,890 2,564,320 (2.399,845) 963.365 Restricted funds 65,061 52.028 37,0471 80.042 Total funds 863.9) I 2.616,348 {2.436,8921 1.043.407 23 Analysis of net assets between funds Unrestricted fund5 Ceneral Total funds at 30 September 2024 Restricted funds Tangible fixed assets Fixed assct investments cent asscts Current liabilities Crediiors over l year 1.008.680 203.910 163.198 (72.126) (171.469) 1.008.680 203,910 199.636 172.1261 (171.4691 36,438 Total nei asset5 1,132.193 36.438 1.168.631 Unrestricted funds Generjl Total funds at 30 September 2023 Restricted funds Tangible fixed &ssets Fixed asset investments Current assets Current liabilities Creditors over l year 556.788 106.041 557.744 179,8511 {177.5591 556.788 106.041 637.985 (79,851 } 1177.5591 80.241 Total net assets 963,163 80.241 1,043.404 Page 23
Drop Inn Ministries Limited Notes to the Financial Statements for the Year Ended 30 September 2024 24 Analysi5 of net funds At l October 2023 Finaneing cash flows At30 September 2024 Cash at bank and in hand 627.107 1461,449) 165.658 Net debt 627,107 At l October 2022 1461.4491 Fingncing cash flow5 165.658 At30 September 2023 Cash at bank and in hand 617.376 9.730 627,106 Net debt 617.376 9,730 627.106 Page 24