Charity registration number: 108390 Acre Gospel Mission Annual Report and Financial Statements for the Year Ended 31 December 2023 Accountanl
Acre Gospel Mission Contents {continued) Reference and Administralive Details Trustees, Report 2to5 Stalemenl of Trustees, Responsibilities Independent Examinevs Report Statement of Financial Activities 8t09 Balance Sheet 10 Noles lo the Financial Statements 11 to20
Acre Gospel Mission Reference and Administrative Details Chief Execulive Officer Pastor Victor Maxwell, President Trustees Pastor Victor Maxwell, President James Carson Kar¢n Lindsay Sandra Cowan David Middleton Paul Mc Manus Jeffrey Ferguson Senior Management l Leadership Mr Keiih Lindsay Team Charity Registration Number 108390 Principal Oftlce 52A Halfpenny Gate Road Moira Co Arniagh BT67 OHP Independenl Examlner James Anihony Mc Cleinents Accouniant Unit 13 Ballyinena Business Centre 62 fenaghy Road Galgonn Ballymena Co Antrim BT42 1 FL Page I
Acre Gospel Mission Trustees, Report The truslees present the annual report together with the financial statements of the charity for the year ended 31 December 2023. Objectives and activities Objects aiid aim Acre Gospel Mi55ion is a Interdenominational missionary endeavour in the Acre District of Brazil for the spiritual Christian inslruclion and leinporal relief of the inhabitants of thal District and adjoining Districts in Brazil , to which the objecls of the Mission may be al any lime extended. The work has spre¢id io Portugal and the Canary Islands. rtner with trusted local Churches and Chrislioan organisations in the geographical locations we operate in. After duiiful consideraiion, we provide capilal funds lo Church build in accoradance Objecllves, slralegles and aellville.s Summary of lh¢ main activities undertaken for the public benefit in relation to these objects Our Mission's primary focus is lo preach the Gospel with the aim ot. winning souls to Chrisi. We partner with with trusted local churches and Christian organisations in the geographical locations we operate in. After dutifiil consideration we provide capital funds lo Church buildin accorance with our policies . We ruli children and youth outreach and foodbanks .We provide food parcels , medicine. basic medical and dental care alongy the Amazon tributaries into ihe State of Acre which is a deprived area. Publle benefll That Through hearing the gospel, regular hearers along with other hearers will come lo a saving knowledge of the love of God in Christ and gel to know God in a deeper , fuller and personal way and then learn how to implemenl ihier Christian Faith in everyday Ife Relief of poverty to th¢ poor in Brazil, Portgual and Lanzarole the benefits are demonstraierd by iiioinloring the attendance levels at activities and events run by the charity and those run with partner organisalions and churches who Can provide regular teachingy and preaching of Gods word io the local inhabitanis IogFether with coininunity outreacli in th¢ bliildings funded by Ilie charity and assissted by the missionaries serving in these churches. No harni arising from the purposes The Charity beneficiaries are the people of Brazil, Spain and Portugal who benefit from the missionary endeavours of our missionaries and volunteers who work alongside local evangeletical churches and Christian organisations to share the Good News of salvation and also help disciple Christians. Many poor Braztlian, Spanish and Portugese a150 beiiefit from food packages and access to foodbanks medical supplies and emergeny clothing. No private benefit arising apart from paying staff and paying allowances to sponsored mi5sionarieslwoTkers which is neccessary to enable the Acre Gospel Mission to operate and provide public benefit. The trustee5 confinn thal they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefil guidance published by the Charity Commission for England and Wales. Page 2
Acre Gospel Mission Trustees, Report (continued) Achlevements and performance We are so thankful for th¢ time given lo our activities and objectives by our Missionaires and our volunleers throughout the year. Completion of two churches in Northeast Brazil We Colllinued io support familiares in need with food parcels in Brazil, Portugal. and Lanzarote through our Church dfoodbanks We have helped familiaries with needs after severe flooding in various parts of the Amazon. Through the Church in Hcbrom, we have supported Lhildren in Bai]TO novo, Manaus( an area of extreme deprivation ) This Support bought Christmas gifts, food parcels for Christmas, shoes, and clothes for the kids. We also support this Ministry throughout the year. We are able to give finanacial assistance for medical needs both of our Mission workers in Brazil and others. Supported our Paslor's and children's workers to purchase children's materials, Bibles, and literature. We were able to provide musical instruments for Church worship, This year we moved our headquartes and mission office from 30 Carnglave Manor. Ballynahinch lo 52A Halfpenny Gate Road Moira This will give us better 0]ce accommodation and also will be more accessible for travelling. Financial review PollL'y on reserves The Trustees have established a policy which is reviewed annually, whereby they have desinaled reserves to cover redunancy and wind up costs in the event of a cessation. Plans for fulure periods Our plan for the future is lo continue lo reach oul and work in Brazil, Portugal and the Canary islads regardless of class, culture or creed with the Gospel of Christ. To conlinuc lo promote our work as best we can across Northern Ireland to bring in further voluntary donations. Structure? governance and managemenl Nalure ofgovernlng documenl Governing Document Although Acre Gospel Mission was founded in 1936, the trust deed was fomially adopted on the 15th April 1958 Recruilment and appoli11e/ of Iruslees Trustees are appointed by a quorum of at least 6 of the existing Trnstees as per Trust Deed stipulations. The changes since ast year have been recorded on the Charities Commision for Northern Ireland website in accordance with the legislation Page 3
Acre Gospel Mission Trustees, Report (continued) Organisalioiial slruclure Acre Gospel Mission consists of the following: (a) Missionaries workingy in various countries each group being responsible to forin its local constitution according to the pattem approved by the hon)e committee although ihis may vary according lo local necessity. (b) A home committee composed of the President . Ihe Cordinator, the treasurer, and not more than twelve oiher members. (c) Retired missionaries may participale on the home cominitte by invilalion. Major risks and ntanagemenl of Iliose rl.fks Where appropiate syslems or procedures hdve been established by the governing body to mitigate the risks the charity face,. Intemal conlrol risks are Ininiinised by the inipleinei)lalion of procedures for authorisalioi) of all Iraiisaclions and projects Ihrou&?h the auspices of the Home Committee. It is responsible for the disburseinent of all funds and for Ihe tnaking of r¢inittances to the mission field. Finaneial instruments ObJeeilve.s andp()Ilcles The charity's activilies expose il to a number of financial risks including credit risk, cash tlow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Ca,shflow rlsk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest Tales. The charity uses foreigi) exchangye forward contracts and inter¢st raie swap contracts to hedge these exposure5. Interest bearing assets and liabilities are held ai fixed rate to ensure certainty of cash flows. Credli risk The charity's principal financial asse15 are bank balances and cash, trade and other receivables. and investinents. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubiful receivables. An allowance for impairmenl is made where there is an idenlifi¢d loss event which, based on previous experience, is evidence of a reduction in the recoverability of the ash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credil-ratings assigned by international credil-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counlerparties and cuslomers. Llquidity risk In order to maintain liquidity to ensure Ihal SU]cIent funds are available for ongoing operations and future developments, the charity uses a mixture of long-tenn and short-temi debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 4
Acre Gospel Mission Trustees, Report (continued) The annual report was approved by the trustees of the charity on 29 Ociober 2024 and signed on its behalf by,. Paslor Viclor Maxwell Chief executive officer and trustee Karen Lindsay Truslee Page 5
Acre Gospel MissioD Statement of Trustees, Responsibilities The tru51ees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom AecountlDg Standards (United Kingdom Generally Accepted Accounting Praciice) and applicable law and regulations. The law applicable to charities requires the truslees to prepare fmancial statemenis for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for thai period. In pr¢paring these financial slalements, the trustees are required to- selecl suitable accounling policies and then apply ihem consistently; observe the meihods and principles in the Charities SORP. make judgements and estiinates that are reasonable and prudent. stale wheiher applicable accounting standards have been followed, Subject to any material departures disclosed and explained in the financial siatements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charilies (Accounts and Reports) Regulations 2008, and the provisions of the constitulion. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delection of fraud and other ie8Ul8r1Iie$. The trustees are responsible for the Inaintenance and integrity of ihe corporate and financtal infomation included on the charitable company's web51te. Legislation governing the preparation and dissemination of financial staiements may differ from legislation in other jurisdictions. Approved by ihe Irustees of the charity on 29 Octob¢r 2024 and signed on its behalf by., Pastor Victor Maxwell Chief execulive officer and trustee Karen Lindsay Trustee Page 6
Acre Gospel Mission Independent Examiner's Report to the trustees of Acre Gospel Mission report lo ihe trust¢¢s on my examinalion of the accounts of Acre Gospel Mission for the year ended 31 Deceinber 2023, Responsibilltles and basis of report As the charity truslees of Acre Gospel Mission you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my exainination of the Acre Gospel Mission's accounts carried out under section 145 of the 201 l Acl and in carrying out my exainination I Iiave followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statemenl Since Acre Gospel Mission's gross income exceeded £250,000 your exaiminer must be a member ol. a body listed in sertion 145 of the 201 l Act. I confirni that l am qualified to undertake the examination b¢cause l am a In¢mb¢r of , which is one of the listed bodi¢s. I have Completed my exainination. I confirni that no Inalerial matters have come to my attenlion in connection with the exainination giving Tne cause io believe that in any material respect.. accountiiig records were not kept in respect of Acre Gospel Misston as required by section 130 of the Aci. or 2. Ihe accounts do nol accord with those records- or 3. the accounts do not comply wilh Ilie accounting requireinents concerning the forni and conlent of accounts set out in tl)e Charities (Accounts and Reports) Re&7ulalions 2008 other than any requirement Ihal the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. have no concerns and have coine across no other matters in connection with the exainination to which attention should be drawn in this report in order to enable a proper understanding of the accounls lo be reached. Tony Clemenls Accountant Unit 13 Ballymena Business Cenlre 62 Fenaghy Road Galgonn Ballymena Co Anlrim BT42 1 FL 29 October 2024 Page 7
Acre Gospel Mission Statement of Financial Activities for the Year Ended 31 December 2023 Unrestricted funds Restrieted funds Total 2023 Note ncome and Endowments from: Donations and legacies Other trading activilies Investment income 438,301 1.300 2.028 22.435 460.736 .300 2.028 Total income 441,6?9 22,435 464,064 Expenditure on: Raising tunds Charitsble activities Other expenditure (270) (347,736) (30.745) (270) (375,836) (30,745) {28,100) Total expenditure (378,751) (?8,100} {406,851) Nel incomel(expenditure) Gross Iransfers beiween funds 62.878 (5,665) (5,665) 5,665 57.213 Nel movement in funds 57,213 57,213 Reconcilialion of funds Total funds brought forward Total funds carried forward 1,092,932 1,09?,932 150,145 Unr¢stri¢ted funds 1,150,145 Total 2022 Restricted funds Note Income and Endowments from: Donations and legacies Other trading activities Investment income 543,240 1.374 1,571 31,065 574,305 1,374 1,571 Total income 546,185 31,065 577,250 Expenditure on: Charitable activities Other expenditur¢ (299,110) (24,210 (32,210) {331,320} (24,210) Total expenditure (323,320) (32,210) (355,530) Net incomel{expenditure) Gross transfers between funds 222,865 (1.145) (1.145) 1,145 221,720 Net movejnent in funds 221,720 221,720 Reconciliation of funds Total ndS brought forward 871,212 871,212 Tolal funds carried fonvard 15 1,092,932 1,092,932 The notes on pages I I to 20 forni an integral part of these financial statements. Page 8
Acre Gospel Mission Statement of Financial Activities for the Year Ended 31 Deeember 2023 (continued) All of the chariiy's activities derive from continuing operations during ihe above two periods. The ndS breakdown for 2022 is shown in note 15. The notes on pages I I to 20 forni an integral part of ihese financial statements. Page 9
Acre Gospel Mission (Registration number: 108390) Balance Sheet as at 31 Deeember 2023 2023 2022 Note Fixed assets Tangible assets 12 558,200 220.375 Current assets Cash at bank and in hand 13 591.945 872,557 Net assets 1,150,145 1,092.932 Funds of the charlty: Unrestricted income fund$ Unrestricted funds ,150,145 1,092,932 Total funds 15 1,150,145 1.092,932 Th¢ financial statements on pages 8 to 20 were approved by the trustees, and aulhorised for issue on 29 October 2024 and signed on their behalf by: Pastor Victor Maxwell Chief execuiive officer and trustee Karen Lindsay Trustee The notes on pages I I to 20 forni an integral part of these financial statements. Page 10
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 l Aeeounling policies Statement of compliance The financial stateinents have been prepared in accordance with Accounting and Reporting by Cliarilies.. Sialement of Recominended Practice applicable to charities preparing their accounts in accordance with the Finaiicial Reporting Standard applicable in the UK and Republic of Irelaiid (FRS 102) {effeclive l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Aci 2011. Basis of preparation Acre Gospel Mission ii)eets the definition of a public benefit entity under FRS 102. The accounts (fii)ancial stalements) have been prepared under the liislorical cost convention with iteins recognised at cost or Iransaclion value unless otherwise slaled in the relevant nole(s) to thes¢ accounts. Going Concern The trustees consider ihal there are no malerial uncertainties about ihe charity's ability to continue as a going concem. Income and endowmenls Volunlary income including donations, gifts. legacies and grants that provide core funding or are of a general nature is recogFlli5ed wlien the charity has entiilen)ent lo the income, it is probable that Ihe incoine will be received and the amounl can be Ineasured with Su]C]ent reliability. Diindtlon.s and legacles Donaiions and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Inveslnieiil Inccime Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendlture All expenditure is reco8nised once there is a legal or conslruclive obligation to that expenditure, it is probable settlement is required and the amount can be Ineasured reliably. All costs are allocated to the applicable expenditure heading that aggregyate similar cosls lo that category. Where costs cannot be direcily attributed to particular headings ihey have been allocated on a basis consistent with Ihe use of resources, with central staff costs allocated on ihe basis of time spenl, and deprecialion charges allocated on the portion of tlie asset's use. Other support costs are allocated based on ihe spread of staff costs. Rai.fingfunds These are costs incurred tn attracting voluntary income, the management of investments and those incurred in trading activities thal raise funds. Charitable aclivilies 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 activilies and those costs of an ivjdirect nature necessary to support them. Pagell
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Support costs Support costs include central functions and have been allocated to activity Cost categories on a basis consistent with the use of resources, for exainple, allocating property costs by floor areas, or per capita, staff costs by the tiine spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constilulional and statulory requiTements, including audit, strategic manageinent and iruslees Ineetings and reimbursed expenses. Taxation The charity is considered io pass the tests set out in Paragraph I Schedule 6 of the Finance Acl 2010 and therefore it meels th¢ definilion of a charitable coinpany for UK corporation tax purposes. Accordingly, the charity is potenlially exeinpl from taxation in respect of income or capital gains reLeived within categories covered by Chapler 3 Part I l of ihe Corporation Tax Acl 2010 or Seclion 256 of the Taxation of Chargeable Gains Act 1992. 10 ihe extent that such income or gains are applied exclusively lo chariiable purposes. Tangible fixed assets ndividual fixed assets costing £0.00 or Inore are initially recorded at cost, less any subsequenl accumulated depreciation and subsequent accumulaled impairnieni losses. Depreciation and hmortisAtion Depreciation is provided on langpible fixed assets so as lo write off the cosl or valualion, less any eslimated residual value, over Iheir expected useful economic life as follows.. Cash and cash equivalents Cash and cash equivalents coinprise cash on hand and call deposils, and other short-terni highly liquid investments that are readily convertible lo a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded ai fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the dityerence between the proceeds, nel of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless ihe charity has an unconditional right to defer settlement of Ihe liability for ai least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objeclives of the charity. Page 12
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Financial instruments Classificalioii Financial asseis and financial liabililies are recognised when the charity becomes a party to the contractual provisions of the instrument. rinancial liabilities and equity instwments are classified according to the subslance of the contractual arrangeinents eiilered inlo. An equity instrument is any contract that evidences a residual interest in the assets of Ihe charity after deduciing) all of ils liabilities. Reco%nlllon aiid measuremenl All financial assets and liabililies are initiall), iiieasured at Iransaclion price (including transaction costs), excepl for Ihose financial assets classified as ai lair value Il)rough profil or loss, wliich are initially Ineasured ai fair value (which is nornially the transaciion price excluding transaction costs). unless the arrangement constitutes a financing transaction. If an arrangyemenl constitules a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of inlerest for a similar debi ins1ruient. Financial assels and liabilities are only offset in the Siatemenl of financial position when, and only when Ihere eAiSts a lebially enforceable right to sel off the recognised ainounts and ihe charity intends either to settle on a nei basis, or lo realise the asset and setlle the liabiliiy siillulianeously. Financial assets are derecoyiised when and only when a) the coniractual rights to ihe cash flows from the financial asset expire or are settled, b) the charity Iransfers to another party substantially all ot. the risks and rewards of ownership of the financial asset, or c) Ihe charity, despite having retaii)ed some, bul not all, significant risks and rewards of ownership, has transferred control of the asset lo another party. Financial liabilities are derecognised only when the obligalion specified in the conlracl is discharged, cancelled or expires. Page 13
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Debl Inslruments Debt instrnmenis which meet the following conditions are subseqiiently ineasured al amortised cost using the effeclive interesl method.. (a) The conlractual return lo the holder is (i) a fixed amount- (li) a p051tive fixed rate or a positive variable raie. or (iii) a combination of a positive or a nebiative fixed rate and a positive variable rate. (b) The contract may provide for repay]nents of Ihe principal or the return 10 the holder (but nol both) lo be linked lo a single relevanl observable index of gyeneral price inflation of the currency in which the debl instrument is denoininated, provided such links are not leveraged. (L) Tlie conlr41cI may provide for a detem)inablc variaiion of the return lo the holder durin&) the life of the instrumenl, provided thai (i) the new rale satisfies coi)dilion (a) and ihe varialion is nol conlingenl on future events otlier than ( l ) a cl)ange of a conlraLtual variable rale; (2) to protect Ihe holder against credit deterioration of the issuer. (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law,. or (li) the new rate is a Inarket rate of interest and satisfies condition (a}. (d) There is no contractual provision that could, by its t¢rnlS, Tesult in the holder losing the principal amount or any interest attributable lo the current period or prior periods. (e) Conlraclual provisions thai pemiil the issuer to prepay a debt instrument or pemil the holder to pui il back to the issuer before Inalurity are not conlingFent on futhre events, other than to protect the holder against the credit deterioration of tlie i55uer or a change in control of the issuer, or to protect tlie holder or Issuer against changes in levies applied by a ceniral bank or arising from chan¥es in relevant taxation or law. (D Contractual provisions may pennit the extension of the tenn of the debt inslrumenl, provided thal th¢ retum to the holder and any other contractual provisions applicable during the extended tenn satisfy the conditions of paragraphs (a) to (c), Debt instrumenls that are classified as payable or receivable within one year on inilial recognition and which meet the above conditions are measured at the undiscounted ainount of the cash or other constderation expected lo be paid or received, nel of impairment. With the exception of some hedging instruments, oiher debt instruments nol meeting these conditions are measured at fair value through profit or loss. Comniitments to make and receive loans which meet the condition5 mentioned above are measured at cost (which may be nil) less impainnenl. Inveslmenls Jnveslinents in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably ineasurable) are Ineasured al fair value ihrough profil or1055. Where fair value cannot be measured reliably, investments are measured at cost less impainnent. Investments in subsidiaries and associates are measured at C05t less iinpainnent. For investments in subsidiaries acquired for consideration including the issue of share5 qualifying for Inerger relief. cosl is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premiuin is ignored. Page 14
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Derivalivefinancial Inslruments The charity uses derivative financial instrument5 to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instrumenls for speculative purposes. Derivatives are initially reeognised at fair value at ihe date a derivative contracl is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in stalemenl of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in stateimenl of financial aclivities depends on the nature of11)e hed&?e relationship. Falr value measuremenl The best evidence of fair value Is a quoted price for an idenlical asset in an active markel. When quoted prices are unavailable, the price of a receiil transaction for an identical (Isset provides evidence of fair value as long as there has noi been a significant change in econoinic circuinslances or a significant lapse of liine since the transaclion took place. If the Inarket is nol active and recent transactions of an identical a55et on ilieir own are not a good estiinate of fair value, the fair value is estimated by using a valuation technique. 2 Income from donation5 and legacies Unrestricted funds General Restricted funds Total funds Donations and legacies. Donations to major appeals Donation5 from companies, trnsts and similar proceed5 Donations from individuals Legacies Gift aid reclaimed Regular giving and capital donations 3.455 3,455 63,976 126,602 232,832 8,730 2,706 20,105 2,330 84,081 128,932 232,832 8,730 2,706 Total for 2023 438,301 22,435 460,736 Total for 2022 543,240 31,065 574,305 3 Income from other trading activities Unrestricted funds General Total funds Trading income,. Sales of goods and services 1,300 1,300 Total for 2023 1.300 1,300 Total for 2022 ,374 1,374 Page 15
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 4 IDveslment income Unrestricted funds General Total funds Interest receivable and similar income; Interest receivable on bank deposits 2,028 2,028 Total (or 2023 2,028 2,028 Total for 2022 1,571 1,571 5 Expenditure on raising funds g} Costs of generating donations and legaeies Unrestricted funds General Total funds Note Donations 270 270 Total for 2023 270 270 Total Costs 6 Expenditure on eharltable activitie5 Unrestrieted funds General Restricled funds Total 2023 Total 2022 Note Missionary allowance, staff costs and travel Project ¢osls Govemance costs 339,723 21,100 7,000 360,823 7,000 8.013 315.285 16,035 8,013 347,736 28,100 375,836 331,320 Page 16
Acre Gospel Mission Notes to the Financial Statements for tbe Year Ended 31 December 2023 (Continued) 7 Other expenditure Unrestricted funds General Total funds Note Depreciation, amortisalion and other similar costs Other resources expended Allocated support costs ?0,229 10,287 229 10,287 229 Total for 2023 30,745 30,745 Total for 2022 24.210 24,?10 8 Analysls of governance and support costs Governance eosls Unrestri¢ted funds General Tolal funds Legal fees Other governance costs 991 7,022 991 7,022 Total for 2023 8.013 8,013 9 Net incomlnglouigoing resources Net incoming resources for ihe year include.. 2023 2022 Depreciation of fixed assets 20,229 11,375 Page 17
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 10 Trustees remuneration and expenses I l Taxalion The charity is a registered charity and is therefore exempt froin taxation. 12 Tangible fixed assels Land and buildings Total Cost At l January 2023 Addilions 455,000 358,054 455,000 358,054 Ai 31 Deceinber 2023 813.054 813,054 Depreciation At l January 2023 Charge for the year 234,625 20,229 234,625 20,229 At 31 December 2023 254,854 254,854 Iyel book value At 31 December 2023 558,200 558,200 At 31 December 2022 220,375 220,375 13 Cash and cash equivalents 2023 2022 Cash al bank 591,945 872,557 14 Creditors: amounts falling due within one year 2023 IS Funds Page 18
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (eontinued) Balance at 31 December 2023 Balance at I January 2023 Incoming resources Resource5 expended Transfers Unreslrieted fuJ)ds General 1.092,932 441,629 (378,751) (5.665) 1,150.145 Restricted funds 22,435 (28,100) 5,665 Total funds 1,092,932 464,064 (406,851) 1.150,145 Balance al 31 December 2022 Balance at I January 2022 Incoming resources Resources expended Transfers Unrestrleted funds General 871.212 546,185 (323,320) (1.145) 1.092.932 Restricted funds 31,065 (32,210) ,145 Total funds 871,212 577.250 (355,530) ,092,932 16 Analysis of net assets between funds Unrestricted funds Gener81 Total funds at 31 D¢¢ember 2023 Tangiible fixed assels Current assets 558,200 591,945 558,200 591,945 Total net assets 1,150,145 ,150,145 Unrestricted funds General Total funds at 31 December 2022 Tangible fixed assets Cuent assets 220,375 639,462 220,375 639,462 Total net assets 859,837 859,837 Page 19
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 17 Analysis of net funds A131 December 2023 At l January 2023 Cash ai bank and in hand 872,557 872,557 Nel debi 872,557 872,557 At31 December 2022 At l January 2022 Net debi 18 Related party Iransactions Page 20
Aere Gospel Mission Statement of Financial Activities by fund for the Year Ended 31 December 2023 Total Total Unrestrieted Unrestricted Funds Funds 2023 2022 Income and Endowments from: Donations and legacies Other trading activilies Investment income 438,301 1,300 2,028 543,240 1.374 1,571 Total income 441,629 546,185 Expenditure on: Raising funds Chariiable activities Other expenditure (270) (347,736) (30,745) (299.110) (24.210) Tolal expenditure (378,751) (323,320) Net income Gross transfers between funds 62,878 (5,665) 222,865 (1,145) Net movement in funds 57,213 221,720 Reeoneiliation of (unds Total funds brought forward 1,092,932 871,212 Total funds carried fonvard 1,150,145 1,092,932 This page does noi fom] parf of the statutory financial statements. Page 21
Acre Gospel Mission Statement of Financial Activities by fund for the Year Ended 31 December 2023 (continued) Total Restricted Funds 2023 Total Restricted Funds 2022 Income and Endowments from: Donaiions and legacies 22,435 31,065 Total income 22,435 31,065 Expenditure on: Charitable aclivilies (28,100) (32,210) Total expenditure (28,100) (32.210) Nel expenditure Gross transfers between fuiids (5,665) 5,665 (1,145) 1,145 Reeoneili8tion of funds Tolal funds carried forward This page does not fomi part of the statutory financial slalements. Page 22
Acre Gospel Mission Detailed Statement of Finaneial Activities for the Year Ended 31 December 2023 Total 2023 Total 2022 Ineome and Endowments from: Donations and legacies (analysed below) Other Irading activities (analysed below) Investment income (analysed below) Total income 460.736 1,300 2,028 574,305 1.374 1,571 464.064 577 ?50 Expenditure on: Raising funds (analysed below) Charilable activities (analysed below) Other expendilure (analysed below) (270) (375,836) (30,745) (331,320) (24.210) Total expenditure (406,851) (355.530) Nel income 57.213 221,720 Nel movement in funds 57,213 221,720 Reconciliation of funds Total thnds broughi forward Total funds Caled forward 1.092.932 871,212 1,150,145 1,092,932 This page does not form part of the statutory financial slatements. Page 23
Acre Gospel Mission Detailed Statement of Finaneial Activities for the Year Ended 31 December 2023 (continued) Total 2023 Total 2022 Donalions and legacies Legacies and bequests Legacies and bequests Legacies and bequests Appeals and donations General Donaiions Church Donaiions Box Donations Prayer Meeiing Donmations Prayer Meeling Donmations Gift Aid 196,425 36,407 272.175 58,024 15.220 112.655 70.240 3.107 15,845 1,965 25,G74 2,330 126,602 63,976 2,706 20,105 3,455 8,730 460,736 574,305 Olher Iradliig aclivllles Books Books 1,374 ,300 1,300 1,374 Investmenr Income Interest on cash deposits Interest on cash deposits 654 917 2,028 2,028 .571 Rai.flpigfund.f Donations payable - institutions (270) (270) Chdrllable aellvllie.% Missionary Allowance Employment Costs Staff pensions (Other) - pension scheine I Private health insurance Project Costs Hotel accommodation Travelling Rates Light, heat and power Insurance Legal and professional fees (320,279) (13,056} (5,966) (276,095) (9,566) {6,069) (3,800} (16,035) (16,175) (3,580) (7,000) (21,100) (422) (3,189) (1,119) (2,714) (991) (375.836) (331,320) This page does not fonn part of the statutory financial statements. Page 24
Acre Gospel Mission Detailed Statement of Financial Activities for the Year Ended 31 December 2023 (continued) Total 2023 Total 2022 Oiher pendIture Repairs and mainienance Telephone and Post Printing. postage and stationery Subsistence for Retired Workers Bank charges Bank charges Depreciation of freehold propety (3.288) {2.428) (4,571) (4,673) (3,278) (4,464) (217) (29) (174) (11,375) (?4,210) (229) {20.229) {30,745) This page doe5 not forni part of the statutory financial statements. Page 25