Charity registration number., 108390 Acre Gospel Mission Annual Report and Financial Statements for the Year Ended 31 December 2024
Acre Gospel Missioll Contents (Continued) Reference and Administrative Detai18 Tru8t¢¢s' Report 2to5 Statem¢nt of Trustees, Responsil)ilities Independent Bxaminer's Report Statement of Financial Activities 8t09 Balance Sheet io Notes to the Financial Statements Ilto20
Acre Gospel Mission Reference and Administrative Details Chlef xecutive Officer Pastor Victor Maxwell, President Trustees Pastor Victor Maxw¢ll. President James Carson Karen Lindsay Sandra Cowan David Middleton Paul Mc Manus Senior Management I Itadershlp Mr Keith Lindsay Team Charlty Regl8tratlon Number 108390 Principal Office 52A Halfpenny Gate Road Moira Co Armagh BT67 OHP Independent Kxamlner James Anthony Mc Clements Accountkmt Unit 13 Ballytnena Business Centre 62 Fetmghy Road Galgorm Ballymena Co Antrim BT42 IFL Page I
Acre Gospel Mission Trustees, Report Tho trustees present the atmual report together with the fjnancial statements of the ohty for tho year ended 31 December 2024. Objectives and aetivllles Objects ffliid aln Acre Gospel Mission is a Interdenominational missionary endeavour in the Acre District of Brazil for the spiritual Christian iiistruction and temw)ral relief of th¢ inhabitants of that District and adjoining Districts in Brazil , to which the objects of the Mission may be at any time extended. The work has SPT¢ad to Portugal and the Canary Islands. rtner with trusted local Churches and Christioan organisations in the geographical locations we operate in. After dutiful consideration, we provide capital funds to Church build in accoradance ObJecllvÉs, slrdlegies And nctlvllles sunUY of the maitt activities undertaken for the public benefit in relation to these objects Our Mission's primary focus is to preach the Gospel with the aim of winning Bouls to Christ. We partner with with trusled local churches and Christian organisations in the geographical locations we operate in. After dutithl consideration we provide capital funds to Church buildin accorance with our policies . We run children and youth outreach and foodbanks .We provide food parcels , vnedicine, basic medical and dental care along the Amazon tributsries into the State of Acre which is a deprived aTea. Pabllc beneJ71 That Through hearing the gospel, r¢gular hearers along with otheT heal'ers will come to a 8aving l(nowledge of the lov¢ of God in Christ alld get to know God in a deeper , fuller and personal way and then learn how to implement thier Christian Faith in everyday Ife Relief of povety to Ihe poor in BraziL Portgual and Lanzarote th¢ benefLts are demonstrdtsrd by tllointoring the attendance levels at activities and events run by the charity and tliose run with partner organisations and churches who can provide regular teaching and preaching of Godg word to the local Ènhabilants together with cornmunity outreach in the buildings funded by the charity and als8d by th¢ missionaries serving in these churches. No harm arising from the purposes The Charity beneficiaries are the people of Brazil, Spain and Portugal who benefit from the n)issionary endeavours of our missionaries and voIunteers wlio work alongside local evang¢l¢tical churches and Christian organisations to share the Good New8 of salvation and al80 help disciple Christians. Many poor Brazilian, Spanish and Porlugese al80 benefjt 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 missionarieslworkers which is nssary to enable th¢ Acre Gospel Mission to operate and provide public benefit. The trustses confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 2
Acre Cospel Mission Trustees, Report (continued) Achievements and perlormance We are thanful for the tim¢ given to our activities and objectives by OUT Missionaires and volunteers thToughtout the year. We have started building a new church building in Feijo in AC Brazil. The chui'oh there was very small and with growing numb¢rs they need a bigger premises, The work 18 ongoing over the next year. We continue to support familiies with needs after flooding in the Amaxon in Brazil and acrross the Northeast of Brazil . We help with food and clothes for the underprivileged people, IHTough the Hebron Church in Manaus , we continiie to supply support for the children in Bairro Novo. This is a very poor area with many social needs. At Christhias especially we send gifts to the families along with food parcels with clothes and shoes for the children. We are able to also help a number of people over the past year with n]edical needs. It is expensive for people to get medical help in Brazil alld to but i'egular medicine. We help our Pastors and children's workers to purchase materials for their woA( including Bibles, Childrens's teaching materials and literature. Our churches in BraziL Portugal at Spain help tllany people with food banks in each curch. Providing a safe space for those in need and counsellintig. The Mission property in Sp4 Ballynahinch has been on the nwk¢t for over a year and we have just sale agrred it in the autumn. The handover should be just before the New Year. The Mission Headquarters in Moira IB proving a better location for trdvelling across t&e province and to airports. Financial revieiT Policy on reserves The Trustees have established & policy which is Teviewed annually, whereby they have desinated reserves to cover redunan¢y and wind up costs in the event of a cessation. Plans for future periods Our plan for the future Is to continue to reach out and work in Brazil, Portugal and the Canary islads r¢gardle8S of class, culture or creed with the Gospel of Christ. To continue to promote our work as best w¢ can across Nththorn Jreland to bring in further voluntary donations. Structure) governance management NulAre ofgovernlng do¢umen¢ Governing Document Although Acre Gospel Mission was founded in 1936, tILe tn18t deed formally adopted on the 15th April 1958 Page 3
Acre Gospel Missioll Trustees, Report (continued) Recrullmenl Ia oppolnlnienl oflrustees Trustees are appointed by a quorum of at least 6 of the existing Trustees as per Trust Deed stipulations, The changes since ast year have been recorded on the Charities Commision for Northern Ireland websits in accordance with the legislation Organlsnllon(ll struetuie Acre Gospel Mission consists of the following,. (a) Missionaries working in various countries , each group being responsible to form its local constitution according to the pattern approved by the home committee although tbis may vary according to local necessity, (b) A home commlttee composed of the President , the Cordinator, the treasurer, and not more than iwelve other members. (c) Retired missionaries m&y participate on the home cornmitte by invitation. Major rtsks und mllnagemenl oflhose rls Where appropiate , systems or Procedureg have been established by the governing body to mitigate the ris1 the harity face,. Internal control risks are minimi8ed by the implementation of procedures for authorisation of all transactions and projects through the au8pices of the Home Cotnmittee. It is responsible for the disbursemeftt of all funds and for the malcing of retnittanre5 to the mission field. Flnanclal Instruments Objeclivav Andpolities The charty's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The w¢ of finmcial 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 ttLese risks, The charity does not use derivative fllwicial instnjments for speculative purposes. Cashfluw rlsk The ¢haTity's activities expose it primarily to the finEwcial risks of changeg in foreign currency exchange rates and ititerest rates. The charity uyes foreign exchange forward contracts and interest rate swap contracts to hedge these exposures, Interest bearing assets and liabilities are held at fjxed rats to ensure certainty of cash flows. Credlt rlsk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments, The charity's credit rislc is primarily attributable to its trnde receivables. The amounts presented in the balance sheet are net of allowances for doubt1 receivables. An allowance for impainnent is made where there is an identifled loss ¢Yent which, based on previous experience, is evidence of a reduction in the recovernbility of the cash flows. The credit risk on liquid fidS &nd derivative financial instrumenls is limited because the counterparties are bank8 Wlth high credit-ratings a&8igned by international credit-rating agencies. The charity has no significant concentration of credit rigk, with exposure spread over a large number of coiihterparties and customers. Page 4
Acre Gospel MRssion Trustees, Report (continued) Liquidity ri¥k In order to maintaiti liquidity to ensure that sutticient fimds are available for ongoing operations and tt[re developments, the charity iises a Mixtu of long-term and short-term debt fanCe. Further details regarding liquidity risk ¢8n be found in the Statcment ol" accounting policies ill the fjjmncial statetneiils. 14É The 8nnual report was approved by the trustees of the charity on ............ .... . and signed on its behaby. Pastor Victor M&xwell Chief executive officer and trustee Karen Lilldsay Tnistee )1 Page 5
Acre Gospel Mission Statement of Trustees, Responsibilities The trustee5 are responsible for prep8riog the tntees, rqiort and the fmancial statements ill accordance with tbe United Kingdoty Accounlin8 Staodard5 (Urrited Kingdom Generally Accepted Accounting Practice) and applicable law 9nd regulatlODS. The law applicable to charities requires tbe trustees to prepare fancial statements for each flliancial Ye whiGh give a trlle and fair view of the state of affairs of the charity and of the incoming resources and application of resoiirces of the charity for tbat period. In prcparing these financial statemcnts, the trustees are required to: select suitable accounting policies and then apply them consi5tentlys observe the methods and principles in the Charities SORP. make JUdgen]lts and estimates that aTe reasollable and prudent. state whether applicable accounting staDdards have been followed, Subject to any material deFiartUTes disclosed and explailled itL ttle fmancial statements. and prepare the fancial statemellts on the goiDg concern basis unless it is inappropriate to presume that the chlty will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any tiJn¢ the fjnancial positloll of the charity and enable them lo ensure that the fmancial statements comply with tbe Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregul2rities. The trnstees are responstble for the maintenance and integrity of Ihe Corporate and fjnancial infonnation included on the ¢haritable cornpanls website. Legislation governillg the preparation and dissemination of fillancial staternents may differ from legislation in other jurisdictions. Approved by the trustees of tbe chlty on ..........- . and signed on its behalf by.. Pastor Victor Maxwell Chief executive officeT and trustee Karen Lilldsay Trustee Page 6
Acre Gospel Mission Independent Examiner's Report to the trnstees of Acre Gospel Missioll I report to the trustees on my examination of the accounts of Acre Gospel Mission for the year ended 31 December 2024. Re$pon8ibilities and basls of report As the charity trustees of Acre Gospel Mission you are responsible for the preparation of tho acwunts in accordance with tho Tequirements of the Charities Act 2011 ('the Act,). I report in respert of my examination of the Acre Gospel Mission's aecoiints carried out under 8ertion 145 of the 2011 Act and in carrying out my ¢xatnination I have followed all the applicable Directions given by the Charity Comtnission uttder section 145(5)(b) of the ACL Independent examiner's statement Since Acre Gospel Missioll's gross incotne exce¢ded £250,000 your examiner mugt be a member of a body listed in section 145 of the 2011 Act. I confirni that I am qualified to undertake the examination because l am a member of , whieh is one of the listed bodies. I have completed my examinatiotL I Qonfirni that no material Matte hAve come to my attention in connection with the examination giving me cause to beli¢ve that in any material respect.. accounting records were not kept in respect of Acre Gospel Mission a5 required by section 130 of the Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements concerning the form and.toThtent of accounts set out in the Charities (Accounts and Reportg) Regulations 2008 other than any requiren]ent that the accounts give a 'true and fair viemd which is ttot a m74tteT considered as part of an I]ePendellt exnIation. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tony Acoo c Clements tant Unit 13 Ballymena Business Centre 62 Fenaghy Road Galgorm Ballymena Co Antri BT42 IFL 14 November 2025 Page 7
Acr¢ Gospel Mission statement of Financi Activities for the Year Ended 31 December 2024 Unrestrlcted funds Total 2024 Note Ineome and Endowments from: Donations and legacies Other traditig activities Invesknent income 250,332 15,274 1,357 250,332 15,274 1,357 Total inwme 266,963 266,963 xpenditure on: Raising funds Charitable activities Other expenditure Total expenditure (20,790) (352,136) 500) (20,790) (352,136) 500) (373,426) 373,426) Net expenditure 106,463 (106,463) Net movement in funds (106,463) {106,463) Reconciliation of funds Total funds brought forward 1,150,145 1,150,145 Total funds carried forward 14 Unrcslrieted fullds 1,043,682 Restrlcted funds 1,043,682 Total 2023 Note In¢oMe and EndoTrvments from: Donations and legacies Other trading activities Investjnent income 438,301 1,300 2,028 22,435 460,736 1,300 2,028 Tolal income 44l,629 22,435 464,064 xpenditur¢ on: Raising funds Charitable activities Othcr expenditure (270) (347,736) (30,745) (270) (375,836) 30,745 (28,100) Total expenditiwe Net income/(expenditure) Gross trtmsfers between fullds (378,751 (28 100 406,851) 62,878 (5,665) (5,665) 5,665 57,213 Net tnovement ill funds 57,213 57213 Rteonciliation or runds Total funds brought forward Total fLinds carried forward 1,092,932 I,OW2,932 14 1,150,145 1,150,145 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 December 2024 (continued) All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 14. The notes on pages I I to 20 fonn an intsgral part of these financial statements. Page 9
Acre Gospel Mission (Registration number: 108390) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed Jssets Tangible assets 12 537,970 558,200 Current assets Cash at bank and in hand 13 505,713 591,945 Creditors: Amounts falling due Trvithin one year (I Net current assets 505,71? 591,945 et assets 1,043,682 1,150,145 Funds of the charlty: Unrestricted Income funds Unrestricted fimds 1,043,682 1,150.145 Total funds 14 1.043,68? 1,150,145 The fllwcial statejnents on pages 8 to 20 were appmved by the trustees, and authorksed fi)r issue on . and signed on their behalf by: Pastor Victor Maxwell Chief executive Olcer and ttwtee Karen Lindsay Trustee The notes on pages I I to 20 fonn an integTal PaTt ofthese fmancial statements. Page 10
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2024 l Accounting pollcles Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recon)mended Practice applicable to charities preparing their awounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (eff¢ctive l January 2015) (Charities SORP (FRS 102)}, the Financial Reporting Stmdard applicable in the UIC and Republic of Irelaiid (FRS 102) and the Charities Act 2011, Basis of preparation Acre Gospel Mission meets tbe defmition of a public benefit entity under FRS 102. The ¢oUThts (financial statements) have been prepared under th¢ bistorical cost convention with ltell recognised at cost or transaction value unless othenvise 8tated in tbe relevant note(8) to these accounts. Golng concern The trustees consider that there are no nRterial uncertainties about the charity's ability to continue as a going concern. Income and endoJvmentS Volllnt income including donations, gifts, legacies and grants that provide Core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be rneasured with sufficient reliability. Donnllons and lezrtcles Donations and legacies are recogllised on a receivable basis when receipt is probable and the amount Can be reliably measured. InveslmeAt Income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constrnctive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to th¢ applicable expenditure heading that aggregate similar costs to that category. Where costs canrLOt be directly attTiI)uted to particular headingg they have been allocated on a basis consistent witb the use of resources, with Cltra1 staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use, Other siipport costs allocated based on the spread of staff costs. Raifin%fun(ls These are costs incurred in attracting voluntary itwome, the manageinent o"F investments and those incurred in trading &ctivAties that raise fimds. Charllable rtctlville Charitable expenditlwe comprises th05e oosts incurred by the charity in the delivery of its activities and services 'ffor its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indir¢ct natui'e necessary to support them. Pag¢ll
Acre Cospel Mission Note8 to the Financial Statements for the Year Ended 31 December 2024 (Continued) Grttniprovtslons Provisions for grants te made when the intention to make a grant has been communicated to the recipient but there is uncertainty about ¢ith¢r the timing of th¢ grant or the amount of grant payable. Support cost Support costs include centrdl functions and have been allocated to actlvlty cost categories on a basis consistent with the use of resources, For example, allocating property costs by floor areas, or per Capita, staff costs by the time spent and other costs by their usage. Governance costs The58 include the costs attributable to the charity's compliance with Constitutional Éd statutory requirernents, including audit, strategic management and trust¢¢s m¢etings and reimbursed exp¢nses. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefo it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exeinpt from taxation in respect of income or oapital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the ext¢nt t]]at such inconLe or gains are applied exclusively to clwitable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulatsd impairnient losses. Depredation and amDrtisaÉion Depreciation is provided on tangible f¢d assets so as to write off the cost or valuation, less any estimated residual value, over thetr expected useful econornic life as follows: Cash and cash equivalents Cash and cagh equivalellts comprise cash on hand and call deposits, and other short-term highty liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant Tisk of change in valiie, Borrowlngs Interest-bearing borrowiiigs are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently ¢twri¢d at amortised cost, with the difference between the proceeds, net of trdnsaction Costs, and th¢ amount due on redemptioll being recognis¢d as a charge to the Statemeiit of Financial Activities over the period of th¢ relevant borrowing. Interest expense is recognised oli the basis of the effective intsrest method and is included in interest payable and similar charges. Bon'owings are clak8ified as cuffent liabilities unle8S the charity has an unconditional rigbt to defer settlement of the liability for at least twelve months afl¢r the reporting date. Page 12
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Fund structure Unrestricted income funds are general fimd5 that are available for use at the trustses discr¢tion in fwtherance of the objectives of the charity. Flnancial Instrumenls Classlfieolloft Financial asyets and f]nancial liabilities are r#cognised when the Charity becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity ii]strument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognlllon andniensurgmenl All financial assets and liabllities are initially tnea5ured at transaction price {includAng transaction costs), except for those fmancial assets classified &8 at fair value through profit or loss, which are initially measured at fair value (wbich is nornially the transaction price excluding transaction Costs), unless the aTrangement constitutes a financing transaction. If an aTrangement constitutes 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 interest for a similar debt illstrutnent. Financial assets and liabilities are only off8¢t in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basi4 or to realise the asset and settle the liability SinLultan¢ously. Financial assets are dereoognised when and only when a) the contracthal rights to the cash flows from the finallcial asset expire or are settled, b) the charity trallsfers to another paty substantially all of the risks and rewards of ownership of the financial asse¢ or c) the charity, despite having retained some, but not all, sigrLificant risks and rewards of owner5hip> hag transferred control of the asset to another party. Financial Liabllities are deognISed onty wh¢n the obligation specified in the contract is discharged, cancelled or expires. Page 13
Acre Gospel Mission Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Debl inslruments Debt instruments which meet the following conditions are subsequently measiired at amortised cost using the effective interest method: (a) The Contractual return to the holder is (i) a fjxed amount. (li) a positive fixed rats or & positive ylable rat¢,, or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to bo linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. {0) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on ftl¢ events other than ( l) a change of a contractual variable rats,. (2) to protect the bolder agaiDSt credit deterioratlon of the issuer,. (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law. or (ii) the new rate is a market rdte of interest alld satisfies condition (a), (d) There is no colltractual provision that coul¢ by its terms, result in the holder losing the piincipal amount or any interest attributable to the Gurrent period or prior periods. (e) Contractual provisions that pemiit the issuer to prepay a debt instrument or permit the bolder to put it back to the issuer before &tUrIty are not contingent orA future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the Issir, or to protect the holdeT or issuer against changes in levies applied by a central bank or arising from ¢hange5 in relevant taxation or law. (D Contractual provisions may pernlit the extsn8ion of the tertll of the debt instrunienL provided that the return to the holder and any other contractual PTOVi8iI)ns applicable during the extended term satisfy the conditions of pagrap1]S (&) to (c). Debt instruments that are classified as PV4yable or receivable within one year on initial recognition and which meet the abovg condition5 are ineasured at the undiscoullted ajnount of the cash or other considerdtion expected to b¢ paid or receive( net of impairnlent. With the exception of some hedging instrument8, Other debt 1ftstwmet not meeting these conditions are measur¢d at fair value through profit or loss. Cominitments to.make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairnient. Inveslpnenlg Investments in non-wnvertible preference SheS and non-puttable ordinary or pr¢ference shares {where sbares are piiblicly traded or their fair value is reliably measurable) are tlleasured at fair V1< lue through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairn]ent. Investments in sub3idi&ries and aksociates are measured at Cost less impairment. For investment% in subsidiaries acquired for consideration including tbe issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of th¢ shares issued plus fair value of other consideration. Any premium 1$ ignored. Page 14
Acre Gospel Mission Notes to the FinanciAI Statements for the Year Ended 31 December 2024 (continued) Derivotivefinnnellll lyulrumenls Th¢ charity i¢S derivative financtal instruments to Teduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issu¢ d¢rivativc financial instruments for speciilative purposes. Derivatives 'e initially recognised at fair valuo at the date a deriv&tive contract is entered into and are subsequontly remeasured to their fair Yalue at eaGh reporting date, The r¢sulting gain or loss is I'ecognised in statement of finaftcial 74Ctivities immediately unl¢s8 the derivative is designatcd and effective as a hedging instru]n¢nt, in whÉ¢h event the timing 0£ the rerognition in statement of fmancial activities depends on the natur¢ of tho hedge relationship. Falr value measurement The best evidence of fair valu¢ is a quoted price for an identical asset in an active niarket. When quoted prices are unavailable, the wice of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in ¢¢onomic circumstances or a significant lapse of time since the transaction took place. If the inarket is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fAir value is estimated by using a valuation technique. 2 Income from donations and lega¢ies Unrestricted funds Gener81 Restricted funds Total funds Donations and legacies. Donations from companies, trusts and similar proceeds Donations from indiilldiials Legacies Gift aid reclaimed Regular giving and capital donations 86,724 90,793 42,632 25,715 4,468 86,724 90,793 42,632 25,715 4,468 Total for 2024 250,332 250,332 Total for 2023 438,301 22,435 460,736 3 Iiicome from other trading aetivities Unrestricted funds General Total funds Trading income" Sales of goods attd services Other trading incoffte 4,445 10,829 4,445 10,829 Tot&1 for 2024 15,274 15,274 Total for2023 1,300 ,300 Page 15
Acre Cospel Mission Notes to the Financial Statements for the YcaT Ended 31 December 2024 (continued) 4 Investment incom¢ Unrestricted funds General Total funds Interest receivable and similar income; Interest receivable on bank deposits 1,357 1,357 Total for 2024 1,357 1,357 Tolal for 2023 2,028 2,028 S Expendilure on raising funds ) Costs of generating donations and legacies Unrestricted . funds Genernl Total funds Note Total for 2023 270 270 b) Costs of trading activilies Unrestricted funds General Total fuiids Note Costs of goods sold 17,848 17,848 Tothl for 2024 17,848 17,848 c) Investment majiagement costs Unreslrlcted funds General Total funds Note Allocated support costs 2,942 2,942 Total for 2024 2,942 2,942 Page 16
Acre Gospel Mission Notes to the Financial Statements Ior the Year Ended 31 December 2024 (continued) Total costs 6 Expenditure on charilable activit1¢8 Ullrestrieted funds General Total 2024 Tolal 2023 Note Missionary allowance, staff costs and travel Project costs Grant fLU)ding of activities Governance costs 287,631 287,631 360,823 7,0(N) 625 63,880 625 63,880 8,013 352,136 352,136 375,836 7 Otber expendlture Unrestricted funds General Total funds Note Other Tesources expended 500 500 Totsl for 2024 500 500 Total for 2023 30,745 30,745 8 Analysis of governance and support costs Governanc¢ costs Unrestricted funds General Total funds Legal f¢e5 Depreciatioffj atllortisation alld other similar costs Other governance costs 68 20230 43,582 68 20,230 43,582 Total for 2024 63,880 63,880 Tolal for 2023 8,013 8,013 Page 17
Acre Gospel Mission Notes to the Financial Statements for the Year Ei nded 31 December 2024 (continued) 9 N¢t incomingloutgoing resource5 Net (outgoing)lincotning resou¢8 for the year include: 2024 2023 Depreciation of fixed asgets 40,460 20,229 Page 18
Acre Gospel Mission Notes to the Finallcial Statements for the Year Ended 31 December 2024 (continued) 10 Trustees remuneration and expens¢s 11 Taxatlon Th¢ Charity is a registsred charity and is therefore exempt from tsxation. 12 Tangible red assets Land and buildings Total Cost At l January 2024 Additions 455,000 358,054 455,000 358,054 At 31 December 2024 813,054 813,054 Depreciation 4t l Jalluary 2024 Chae for the year At 31 December 2024 254,854 20,230 254,854 20230 275,084 275,084 Net book value At 31 December 2024 537,970 537,970 Al 31 December 2023 200,146 200,146 13 Cash and cash equivalents 2024 2023 Cash at bank 505,713 591,945 14 Fund Balance at 31 December 2024 Balance at i January 2024 Incomig resources Resour¢es expended Unrestricted funds General 1,150,145 289,699 {396,162 1,043,682 Page 19
Acre Gospel Mission Not to the Financial Statements for the Year Ended 31 December 2024 (continued) Balance at 31 December 2023 BAlan¢e at I January 2023 Incoming resources Resources expended Transfers Unreslri¢ted funds General 1,092,932 441,629 22,435 {378,751) 28,100 (5,665) 5,665 1.150,145 Restricted funds Total funds 1,092,932 4fv1.0fv1 (406,851) 1,150,145 15 An81ysis of net assets betTrYeen funds Unrestricted runds Ceneral Total (und5 at 31 December 2023 Tangible fixed assets Current &5sets 558200 591,945 558,200 591,945 Total net assets 1,150,145 1,150,145 16 Analysis ofnet funds At31 Deeember 2024 At l January 2024 Cash at bank and in hand 591,945 591,945 Net debt 591,945 591,945 At31 December 2023 At l Janu*ry 2023 Cash at bank and in hand 872 557 872,557 Net debt 872,557 872,557 17 Related parly transactions Page 20
Acre Gospel Mission Stotement of Financial Activities by fund for the Yeor Ended 31 December 2024 Totol Total Unrestrieted Unrestricted Funds Funds 2024 2023 Income and Ei ndowm¢nts from: Donations and legacies Other trading activities InveStttnt income 250,332 15,274 1,357 438,301 1,300 2,028 Total income 266,963 441.629 Expenditure on: Raising funds Charitable activities Other expenditure (20,790) (352,136) 500 (270) (347,736) 30,745) Total expenditure 373,426 378,751 Net (expenditureyincome Gross transfers between tunds (106,463) 62,878 (5,665 Net movement in fiinds (106,463) 57,213 Reeonciliation of fuiids Total funds brought fonvard 1,150,145 1,092,932 Total fuiids carried forward 1,043,682 1,150,145 This page does not form part of the statutory financial ststement8, Page21
Acre Gospel Mission Statement of Vinancial Activities by fund for the Year Ended 31 December 2024 (continued) Total Restricted Fund5 2024 Total Restricted Funds 2023 Income and Endowments from: Donations and l¢gaGies 22,435 Total income 22,435 Expenditure on: Charitable activities 28,100) Total expenditure Net expenditure Gross transfers between fLmds (28,100) (5,665) 5,665 Reconclllatlon of fund8 Total fijnds Carried forward This page does not forni part of the statutory financial statements. Page 22
Acre Cospel Mission Detailed Statement of Financial Activitics for the Year Ended 31 DeceJJ)bcr 2024 Total 2024 Total 2023 Income and Ei ndowments from: Donations and legacies (anatysed below) Other trading activities (analy8ed below) Investment income (analysed below) 250,332 15,274 1,357 460,736 1,300 2,028 Total income 266,963 464,064 Expenditure on: RaÈsing funds (analysed below) Charitabl¢ a¢tivitie8 (analysed below) Oth¢r expenditure (analysed below) T(rtal expenditure Net (expend1tLeYjllcome (20,790) (352,136) 500 (270) {375,836) 30,745 (373,426) (406,851) 106,463) 57,213 Net movement in ndS (106,463) 57,213 Reconciliation of funds Total fi]nds brought forward 1,150,145 1,092,932 Total funds carried fonvard 1,043,682 1,150,145 This page does not fom part of the statutory financial statements. Page 23
Acre Cospel Mission Detailed Statement of Financial Activities for the Year Ended 31 December 2024 (Cohtinued) Total 2024 Tolal 2023 Donalions anil legacies Legacies and bequests Legacies and bequests Legacies and bequests Appeals and donations Appeals and donations General Donations General Donations Church Donations Church Donations Box Donationg Box Donations Prayer Meeting DOnntiOnS Prayer Meeting Dot]nvdtions Prayer Meeting Donvnations Gift Aid lax reclaimed Gift Aid Killyhevlin Autumll Break 42,632 196,425 36,407 22,905 2,330 90,624 126,602 81,828 63,976 4,468 2,706 4,896 20,105 3,455 25,715 8,730 (22,736) 250,332 460,736 Other trading acliviÉi£ Books Bookg Project Incorn¢ 4.445 1,300 10,829 15274 1,300 Inveslmenl income Interest on cagh deposits Illterest on cash deposits 1,357 2,028 1,357 2,028 Ralslngfunél& Staff pensions (Defined benefit) - pension scheme I Staff p¢nsiollS (Other) - pensioll $chee I Donations payable - institutions Trnvelling (11,803) (6,045) (270) (2,942 20,790 270 Charllaljle aclivili Missionai'y Allowance Missionai'y Allowance (287,631) (320,279) Tbis page does not fomi part of the statutory financial statements. Page 24
Acre Gospel Mission Detailed Statement of FinAncial Activities for the Year nded 31 December 2024 (colltillued) Total 2024 Total 2023 Employment Costs Staff pensions (Other) - peD5ion 3¢heme I Project Costs Donations payable - institutions Hotel accon]tnodation Travelling Rates Rates Light, heat alld power Light, heat and power Insuran¢e Insurance Repai and maintenance Ropairs and r¢newals Telephone and Post Legal and professional fees Legal and professional fees Bank charges Depreciation of freehold property (13,056) (5,966) (7,000) (625) (21,100) (422) (3,951) (3,189) (1,749) (1,119) (2,831) (2,714) (28,324) (3,581) (2,913) (68) (991) (233) 20,230 (352,136) (375,836) Olher eypendilure Project Costs Repairs and Jnaintenance Telephone Hnd Post Printing, postage and stationery Bank cbarges D¢precialion of freeliold property (500) (3,288) (2,428) (4,571) (229) 20,229) (30,745) (500) This page does not form part of the statutory fmancial statements. Page 25