Charity registration number 1109959
Company registration number 05420736 (England and Wales)
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Rev S Hah
S Asnani
Y Hu
Charity number
1109959
Company number
05420736
Registered office
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Accountants
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
CONTENTS
Page
Trustees' report
1 - 2
Statement of trustees' responsibilities
3
Accountants' report
4
Statement of financial activities
5
Statement of financial position
6
Notes to the financial statements
7 - 9
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 30 April 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are to advance the Christian faith by establishing a Christian College to provide biblical training in Bristol and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Trust.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The trust has remained dormant during the period whilst research is carried out to consider other potential sites for a training college within the UK and other ministry projects. Any overhead costs are covered by the parent organisation All Nations Ministries Korea.

Financial review

The financial activities of the Charity are shown on page 4.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management
The charity is a company limited by guarantee governed by a memorandum and articles of association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Rev S Hah
S Asnani
Y Hu
Trustees are appointed by existing Trustees. Only those persons with suitable business and spiritual maturity are appointed.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
The trust is managed on a day to day basis by the Rev. S Hah. The trust is associated with All Nations Ministries an organisation registered in Korea.
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -

The trustees' report was approved by the Board of Trustees.

S Asnani
Trustee
22 October 2024
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -

The trustees, who are also the directors of All Nations Ministries College (Bristol) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements 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, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate 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 Companies Act 2006. They 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 irregularities.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ALL NATIONS MINISTRIES COLLEGE (BRISTOL) FOR THE YEAR ENDED 30 APRIL 2024
- 4 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of All Nations Ministries College (Bristol) for the year ended 30 April 2024, which comprise and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 26 May 2010. Our work has been undertaken solely to prepare for your approval the financial statements of All Nations Ministries College (Bristol) and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than All Nations Ministries College (Bristol) and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that All Nations Ministries College (Bristol) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of All Nations Ministries College (Bristol). You consider that All Nations Ministries College (Bristol) is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or Independent Examination of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the accounts.
Caladine Limited
22 October 2024
Chartered Certified Accountants
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
Total
Total
2024
2023
Notes
£
£
Net income for the year/
Net movement in funds
-
-
Fund balances at 1 May 2023
-
-
Fund balances at 30 April 2024
-
0
-
0

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 6 -
2024
2023
Notes
£
£
£
£
The funds of the charity
-
0
-
0

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 22 October 2024
S Asnani
Trustee
Company registration number 05420736 (England and Wales)
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
1
Accounting policies
Company information

All Nations Ministries College (Bristol) is a private company limited by guarantee incorporated in England and Wales. The registered office is Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 1BF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Charity is dormant.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised 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 covenant is recognised at the time 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.
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies (Continued)
- 8 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they relate. All Governance costs were paid by All Nations Ministries Korea.
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Taxation
The company is not liable to United Kingdom corporation taxation on its charitable activities.
ALL NATIONS MINISTRIES COLLEGE (BRISTOL)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies (Continued)
- 9 -
1.9
Limited liability
The company is limited by guarantee and does not have a share capital. The liability of each member is limited to a maximum of £10. The total number of members at 30 April 2024 was 3.
1.10
Unrestricted funds
The charity operates a general fund only which incorporates all the the charities assets and liabilities.
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
4
Trustees
None of the trustees received any remuneration or expenses during the period.
5
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

6
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

7
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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