ABUNDANT LIFE UGANDA ANNUAL REPORT & FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023 Registered with The Charities Commission for Northern Ireland NIC108621
ABUNDANT LIFE UGANDA CONTENTS Page Trustees, annual report Independent examiner's report Statement of financial activities Statement of assets and liabilities Notes to the financial statements
Page 4 ABUNDANT LIFE UGANDA STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 Unrestricted funds Restricted fund5 Total 2023 Total 2022 Note Income from: Donations and legacies Total income 3,337 3,337 12,071 12,071 15,408 15,408 17,749 17,749 Expenditure on: Charitable activities Other costs Total expenditure 18,172 18,172 1,339 19,511 17,174 1,096 18,270 1,339 1,339 18,172 Net income/(expenditure) before transfers 1,998 16,1011 {4, 1031 15211 Transfers between funds 15,9441 5,944 Net income/lexpenditure} for the year 13,946) (157) (4,103) 1521) Fund balances at 01 October 2022 4,922 157 5,079 5,600 Fund balances at 30 September 2023 976 976 5,079 The note5 on pages 6 to 8 form part of these financial statements
Page 5 ABUNDANT LIFE UGANDA STATEMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2023 2023 2022 Note Current Assets Debtors Bank and cash balances 1,534 797 267 5,697 5,964 2,331 Creditors: due wlthin one year Accrua15 and deferred income 1,355 1,355 885 885 Net Current Assets 976 5,079 Net Assets 976 5,079 Income Funds Unrestricted Funds Restricted Funds Genera I Income Capital 976 4,922 157 157 Retained Reserves 976 5,079 The financial statements were approved by the Trustees on behalf by.. q-1-c and signed on their y Graham Chairperson Ruth Hamilton Treasurer The notes on pages 6 to 8 form part of these financial statements
Page 6 ABUNDANT LIFE UGANDA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Principal accounting pollcies Set out below are the principal accounting policie5 wh ich have been adopted in the compilation of the Statement of financial activities and the Bala nce sheet. 1.1 Charltable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of their charitable objectives. Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commltments. Restricted funds are subject to specific conditions by donors as to how they may be used. 1.2 Incoming resources Income is recognised when the charity 15 legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 15 probable that the income will be received. Cash donations are recognlsed on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covena nt is recognised at the tlme of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy Is treated as a contingent asset. 1.3 Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expendlture Includes any VAT which cannot be fully recovered, a nd is classif led under headings of the financia l activities to wh ich It relates.. expenditure on raising funds includes the ¢0sts of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditu re that is neither related to raising funds for the charity not pa rt of it5 expend itu re on cha ritable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Page 7 ABUNDANT LIFE UGANDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Donations and legacles Unrestricted Funds Restricted Funds Total 2023 Total 2022 Donations and gifts Gift Aid on donations and gifts 3,337 10,804 1,267 14,141 1,267 16,241 1,508 3,337 12,071 15,408 17,749 Cost of charltable act5vltles 2023 2022 School fees, uniforms & Supplies School activities Living expenses Business Medical Transport Uni Course & Fees Sundry Foreign exchange 11,600 430 605 13.852 792 1,315 184 501 745 582 299 11,0961 2,990 720 228 292 1,307 18,172 17,174 Other expendlture 2023 2022 Travel Web design Accountancy Bank fees 304 31 470 534 153 43 450 450 1,339 1,096 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year.
Page 8 ABUNDANT LIFE UGANDA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Debtors 2023 2022 GiftAid claims 1,534 267 1,534 267 Reserves Unrestrlcted funds Restricted funds Total 2023 Total 2022 Reserves b/fwd 4,922 157 5,079 5,600 Net movement in funds 13,9461 {1571 14,1031 15211 Reserves clfwd 976 976 5,079 Analysis of net assets between funds Unrestrlcted funds Restricted funds Total 2023 Total 2022 Current assets Current liabilities 2,331 11,3551 2,331 11,3551 5,964 18851 Total funds 976 976 5,079