Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-31600128840020482472400false2024-01-01No description of principal activity552024-12-31 NI043515 2024-01-01 2024-12-31 NI043515 2023-01-01 2023-12-31 NI043515 2024-12-31 NI043515 2023-12-31 NI043515 2024-01-01 NI043515 2023-01-01 NI043515 c:CompanySecretary1 2024-01-01 2024-12-31 NI043515 c:RegisteredOffice 2024-01-01 2024-12-31 NI043515 d:CurrentFinancialInstruments 2024-12-31 NI043515 d:CurrentFinancialInstruments 2023-12-31 NI043515 c:FRS102 2024-01-01 2024-12-31 NI043515 c:IndependentExaminationCharity 2024-01-01 2024-12-31 NI043515 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI043515 b:Trustee1 2024-01-01 2024-12-31 NI043515 b:Trustee2 2024-01-01 2024-12-31 NI043515 b:Trustee3 2024-01-01 2024-12-31 NI043515 b:Trustee4 2024-01-01 2024-12-31 NI043515 b:Trustee6 2024-01-01 2024-12-31 NI043515 b:RestrictedIncomeFunds 2024-01-01 2024-12-31 NI043515 b:TotalEndowmentFunds 2024-01-01 2024-12-31 NI043515 b:TotalEndowmentFunds 2023-01-01 2023-12-31 NI043515 b:RestrictedIncomeFunds 2024-12-31 NI043515 b:RestrictedIncomeFunds 2023-12-31 NI043515 b:TotalEndowmentFunds 2024-12-31 NI043515 b:TotalEndowmentFunds 2023-12-31 NI043515 b:Activity3 2024-01-01 2024-12-31 NI043515 b:Activity3 2023-01-01 2023-12-31 NI043515 b:Activity3 b:TotalRestrictedIncomeFunds 2024-01-01 2024-12-31 NI043515 b:Activity3 b:TotalRestrictedIncomeFunds 2023-01-01 2023-12-31 NI043515 b:Activity3 b:TotalEndowmentFunds 2024-01-01 2024-12-31 NI043515 b:Activity3 b:TotalEndowmentFunds 2023-01-01 2023-12-31 NI043515 b:TotalUnrestrictedFunds 2024-12-31 NI043515 b:TotalUnrestrictedFunds 2023-12-31 NI043515 b:TotalRestrictedIncomeFunds 2024-12-31 NI043515 b:TotalRestrictedIncomeFunds 2023-12-31 NI043515 c:FullAccounts 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: NI043515
Charity number: NIC100629











AFRICAN ENTERPRISE (IRELAND) LIMITED
(A company limited by guarantee)








UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the Company, its Trustees and advisers
1
Trustees' report
2 - 4
Independent examiner's report
5 - 6
Statement of financial activities
7
Balance sheet
8
Notes to the financial statements
9 - 16

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024


Trustees
T G Wilson
S Phillips
D Clements
D Ebbs
T Morrow

Company registered number
NI043515

Charity registered number
NIC100629

Registered office
Suite 2.06, Custom House,
Custom House Square
Belfast
Antrim
BT1 3ET

Company secretary
FC Secretarial Services Limited

Accountants
UHY Hacker Young Fitch
Chartered Accountants
Suite 2.06, Custom House,
Custom House Square
Belfast
BT1 3ET

Bankers
Allied Irish Bank plc
7/12 Dame Street
Dublin 2
Ireland

Page 1

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the financial statements of the Company for the  1 January 2024 to 31 December 2024The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

The objective of African Enterprise (Ireland) Limited is the evangelisation of the cities of Africa through word and deed in partnership with the church.
 

Achievements and performance
 

a. Review of activities
 

The main activities during the year were concerned with raising funds to pass onto the International African
Enterprise body. The directors felt that fundraising activities were fairly successful and were thanked by the
International branch for their work in this financial year.
 

b. Public Benefit
 

The main purpose of the charity is the evangelisation of the cities of Africa through word and deed, which is a charitable purpose under the Charities Act (Northern Ireland) 2008 and Charities Act (Northern Ireland) 2022.
 

Financial review
 

a. Going concern
 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

b. Reserves policy
 

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.
 

Page 2

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)
 
Financial review (continued)

c. Financial risk management objectives and policies
 

The global financial situation has hit charities as well as businesses, but the Trustees confirm that the charity`s assets are adequate to fulfill the obligations of the charity, and that the funds are not excessive, given the assets, commitments and size of the charity.
 

d. Results for the year
 

The results for the year are set out on page 6.
 
 

e. Plans for future periods
 

The AE partnership of approximately 600 staff and countless volunteers and friends representing ten Ministry Teams and Five Support Teams continues the mission given to AE at its start – ‘To evangelise the cities of Africa through word and deed, in partnership with the church.'
The work of African Enterprise will continue to bring peace, reconciliation and hope to African with their regular support, prayer and donations.
 

Structure, governance and management
 

a. Constitution
 

African Enterprise (Ireland) Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 21 May 2002.
The charity is constituted under a Memorandum of Association dated 21 May 2002 and is a registered charity (number XR 66808).
The company is now a registered charity with the Northern Ireland Charities Commission under number NIC100629.
 

b. Methods of appointment or election of Trustees
 

As required on an ad hoc basis the Trustees discuss the appointment of potential new Trustees for appointment to the Board. Suitable people are approached and if they are willing to serve on the Board their nomination is put forward for approval by the Board. The Trustees are appointed for three years and are available for re-election.
 

Members' liability
 

The Members of the Company guarantee to contribute an amount not exceeding 1 to the assets of the Company in the event of winding up.
 

Page 3

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)
 
Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the Company for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


 

Approved by order of the members of the board of Trustees and signed on their behalf by:
T G Wilson
Trustee

Date: 14 April 2025

Page 4

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Independent examiner's report to the Trustees of African Enterprise (Ireland) Limited

 
I report on the financial statements of the company for the year ended 31 December 2024 which are set out on pages 7 to 16.


Respective responsibilities of charity Trustees and examiner


As the company's trustees (and also the directors of the company for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the company is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:


examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
 
follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act; and
 
state whether particular matters have come to my attention.


Basis of independent examiner's statement


I have examined your company accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.


My examination included a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as company trustees concerning any such matters.


My role is to state whether any material matters have come to my attention giving me cause to believe:


1.
that accounting records were not kept in accordance with section 386 of the Companies Act 2006;

2.
that the accounts do not accord with those accounting records;

3.
that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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);

4.
that there is further information needed for a proper understanding of the accounts to be reached.



Page 5

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Independent examiner's statement


I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.


Signed:Scott McCullough FCA   Dated: 14 April 2025

Scott McCullough      FCA, Chartered Accountants Ireland

UHY Hacker Young Fitch
Chartered Accountants
Suite 2.06, Custom House,
Custom House Square
Belfast
BT1 3ET
Page 6

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)


 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024


Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        
        
        
        

Income from:







Donations and legacies

3

-

8,792

8,792

1,179
 
Charitable activities

4

1,100

5,475

6,575

8,350
 
Total income
1,100
14,267
15,367
9,529
Expenditure on:







Charitable activities

5

1,200

14,669

15,869

9,749
 
Total expenditure
1,200
14,669
15,869
9,749

Net movement in funds
  
(100)
(402)
(502)
(220)

Reconciliation of funds:

  





Total funds brought forward

  

300

(622)

(322)

(102)
 
Net movement in funds

  

(100)

(402)

(502)

(220)
 
Total funds carried forward
  
200
(1,024)
(824)
(322)

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

The notes on pages 9 to 16 form part of these financial statements.

Page 7

 
AFRICAN ENTERPRISE (IRELAND) LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: NI043515


 
BALANCE SHEET
AS AT 31 DECEMBER 2024


2024
2023
Note

Fixed assets
  

  
-
-

Current assets
  

Cash at bank and in hand
  
180
648

  
180
648

Creditors: amounts falling due within one year
 9 
(1,004)
(970)

Net current liabilities
  
 
 
(824)
 
 
(322)

Total assets less current liabilities
  
(824)
(322)

Net liabilities excluding pension asset 
  
(824)
(322)

Total net assets 
  
(824)
(322)


Charity funds
  

Restricted funds
 11 
200
300

Unrestricted funds
 11 
(1,024)
(622)

Total funds
  
(824)
(322)

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

T G Wilson
Trustee

Date: 14 April 2025


The notes on pages 9 to 16 form part of these financial statements.

Page 8

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

African Enterprise (Ireland) Limited is a company limited by guarantee and is incorporated and registered in Northern Ireland under Company Registration Number NI043515.
The Registered Office is Suite 2.06, Custom House, Custom House Square, Belfast, BT1 3ET.
The principal activity of the charitable company is the evangelisation of the cities of Africa through word and deed.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

African Enterprise (Ireland) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

  
2.3

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 allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

  
2.4

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 9

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.5

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
2.6

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.7

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.


3.

Income from donations and legacies



Unrestricted funds
2024
Total
funds
2024
        
        
 


Donations

8,792

8,792




Unrestricted funds
2023
Total
funds
2023
        
        


Donations

1,179

1,179

Page 10

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.Income from donations and legacies (continued)



4.

Income from charitable activities




Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        
        
        




Evangelism throughout Africa

1,100

5,475

6,575





Restricted funds
2023
Unrestricted funds
2023
Total
funds
2023
        
        
        




Evangelism throughout Africa

1,200

7,150

8,350



5.

Analysis of expenditure on charitable activities


Summary by fund type




Restricted funds
2024
Unrestricted funds
2024
Total
2024
        
        
        




Governance Costs

-

1,326

1,326

General Charitable Activities

1,200

13,343

14,543



1,200
14,669
15,869




Restricted funds
2023
Unrestricted funds
2023
Total
2023
        
        
        




Governance Costs

-

1,179

1,179

General Charitable Activities

1,200

7,370

8,570



1,200
8,549
9,749

Page 11

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.

Analysis of expenditure by activities



Support costs
2024
Total
funds
2024
        
        



Governance Costs

1,326

1,326

General Charitable Activities

14,543

14,543



15,869
15,869




Support costs
2023
Total
funds
2023
        
        



Governance Costs

1,179

1,179

General Charitable Activities

8,570

8,570



9,749
9,749



7.

Independent examiner's remuneration

2024
2023

Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts
1,326
1,178


8.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - €NIL).

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - NIL).


9.



Creditors: Amounts falling due within one year


2024
2023


Accruals and deferred income
1,004
970

Page 12

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.



Financial instruments


2024
2023

Financial assets

Financial assets measured at fair value through income and expenditure
180
648


Financial assets measured at fair value through income and expenditure comprise of cash at bank.

Page 13

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.

Statement of funds


Statement of funds - current year

Balance at 1 January 2024
Income
Expenditure
Balance at 31 December 2024

Unrestricted funds





Designated funds






Designated Funds - all funds

-

7,500

(7,500)

-
 

General funds






General Funds - all funds

(622)

6,767

(7,169)

(1,024)
 
Total Unrestricted funds




(622)

14,267

(14,669)

(1,024)

Restricted funds






Restricted Funds - all funds

300

1,100

(1,200)

200
 

Total of funds


(322)
15,367
(15,869)
(824)



Statement of funds - prior year

Balance at
1 January 2023
Income
Expenditure
Balance at
31 December 2023

Unrestricted funds





General Funds - all funds

(522)

1,100

(1,200)

(622)
 


Restricted funds






Restricted Funds - all funds

300

1,200

(1,200)

300
 


Total of funds


(222)
2,300
(2,400)
(322)


12.

Summary of funds

Page 14

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.

Summary of funds (continued)


Summary of funds - current year

Balance at 1 January 2024
 
Income
 
Expenditure
 
Balance at 31 December 2024
 
Designated funds

-

7,500

(7,500)

-
 
General funds

(622)

6,767

(7,169)

(1,024)
 
Restricted funds

300

1,100

(1,200)

200
 


(322)
15,367
(15,869)
(824)


Summary of funds - prior year

Balance at
1 January 2023
 
Income
 
Expenditure
 
Balance at
31 December 2023
 
General funds

(522)

1,100

(1,200)

(622)
 
Restricted funds

300

1,200

(1,200)

300
 


(222)
2,300
(2,400)
(322)


13.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Restricted funds
2024
Unrestricted funds
2024
Total
funds
2024
        
        
        



Current assets

200

(20)

180

Creditors due within one year

-

(1,004)

(1,004)

Total 


200
(1,024)
(824)




14.


Related party transactions

There were no related party transactions in the year.

Page 15

 
AFRICAN ENTERPRISE (IRELAND) LIMITED

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Controlling party

The controlling party of the company is considered to be the Board of Trustees.

Page 16