Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2025-03-31153480615119562025-03-3142024-04-01falseNo description of principal activity4 NI686864 2024-04-01 2025-03-31 NI686864 2023-04-01 2024-03-31 NI686864 2025-03-31 NI686864 2024-03-31 NI686864 2024-04-01 NI686864 2023-04-01 NI686864 c:RegisteredOffice 2024-04-01 2025-03-31 NI686864 d:CurrentFinancialInstruments 2025-03-31 NI686864 d:CurrentFinancialInstruments 2024-03-31 NI686864 c:FRS102 2024-04-01 2025-03-31 NI686864 c:IndependentExaminationCharity 2024-04-01 2025-03-31 NI686864 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 NI686864 b:Trustee1 2024-04-01 2025-03-31 NI686864 b:Trustee2 2024-04-01 2025-03-31 NI686864 b:Trustee3 2024-04-01 2025-03-31 NI686864 b:Trustee4 2024-04-01 2025-03-31 NI686864 b:TotalEndowmentFunds 2024-04-01 2025-03-31 NI686864 b:TotalEndowmentFunds 2023-04-01 2024-03-31 NI686864 b:TotalEndowmentFunds 2025-03-31 NI686864 b:TotalEndowmentFunds 2024-03-31 NI686864 1 2023-04-01 2024-03-31 NI686864 b:TotalEndowmentFunds 1 2023-04-01 2024-03-31 NI686864 b:TotalUnrestrictedFunds 2025-03-31 NI686864 b:TotalUnrestrictedFunds 2024-03-31 NI686864 b:TotalRestrictedIncomeFunds 2025-03-31 NI686864 b:TotalRestrictedIncomeFunds 2024-03-31 NI686864 c:FullAccounts 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: NI686864
Charity number: NIC 109067











ABUNDANT NEW LIFE TRUST
(A Company Limited by Guarantee)








UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
ABUNDANT NEW LIFE TRUST
 
(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 - 9
Notes to the Financial Statements
10 - 19

 
ABUNDANT NEW LIFE TRUST
 
(A Company Limited by Guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025


Trustees
Mr S Fleming
Mr P I Hodge
Mr J McFadden
Mrs S L McFadden

Company registered number
NI686864

Charity registered number
NIC 109067

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

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

Bankers
Danske Bank Limited
Donegall Square West
Belfast
BT1 6JS

Page 1

 
ABUNDANT NEW LIFE TRUST
 
(A Company Limited by Guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The Directors (who are also Trustees of the charitable company) present their annual report together with the financial statements of the Company for the year 1 April 2024 to 31 March 2025The 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
 

in setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charites Commission for Northern Ireland relating to public benefit.
Their main objectives include the following:
1. To promote and advance the Christian Faith.
2. Relieve those in need by reason of youth, age, ill-health, financial hardship or other disadvantage.
 

b. Activities undertaken to achieve objectives
 

Abundant New Life Trust seeks to bring benefit to individuals and wider society by making the Bible more widely available through providing portions of the Bible in different languages. 
Through providing some of the needs of those in poverty by helping to supply food, water, housing and shelter, and working in conjunction with others bringing relief, Abundant New Life Trust seeks to help relieve those in need. 
Through teaching about Evangelical Christian beliefs and practices, the proclamation of the Gospel of Jesus Christ and the promotion of Christian values and moral improvement, Abundant New Life Trust seeks to promote the Christian Faith.
Abundant New Life Trust has two volunteers who make themselves available to meet and discuss issues with people in need. Abundant New Life Trust will also seek to support Ministries that are recognised for their work and experience in helping people.
 

c. Main activities undertaken to further the Company's purposes for the public benefit
 

The Directors are aware of the Charity Commission for Northern Ireland’s general guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion and the relief of those in need. This is taken into consideration when reviewing the charity's aims and objectives in planning future activities.
 
 

Page 2

 
ABUNDANT NEW LIFE TRUST
 
(A Company Limited by Guarantee)
 
Achievements and performance
 

a. Review of activities
 

The results for the year are as set out on pages 7 and 8.  During the year the Trust made donations to 38 charitable organisations. 
 

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
 

The charity finished the year with a deficit of £11,425 (2024 - a surplus of £767,403) and reserves of £755,978 (2024 - £767,403). All funds at the end of the year were unrestricted resources. The Trustees are satisfied with the results for the year.
 

Structure, governance and management
 

a. Constitution
 

Abundant New Life Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 28 February 2022.  Abundant New Life Trust is registered with the Charity Commission for Northern Ireland, its charity number is NIC 109067.
The company was incorporated on 24 March 2022.
The principal objective of the charity is the advancement of the Christian Faith, and relief of those in need by reason of youth, age, ill health, financial hardship or other disadvantage.
 

b. Methods of appointment or election of Trustees
 

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
 

c. Organisational structure and decision-making policies
 

The day-to-day responsibility for the provision of services rests with the Trustees, who ensure that the Trust delivers the service specified and complies with all relevant laws and regulations.
 

d. Financial risk management
 

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
 

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

 
ABUNDANT NEW LIFE TRUST
 
(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 year. 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:
Mr J McFadden
Trustee
Mr S Fleming
Trustee

Date: 30 July 2025

Page 4

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025

Independent Examiner's Report to the Trustees of Abundant New Life Trust

 
I report on the financial statements of the company for the year ended 31 March 2025 which are set out on pages 7 to 19.


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

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

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.


This report is made solely to the company's Trustees, as a body, in accordance with section 65(3)(a) of the Charities Act (Northern Ireland) 2008 and regulations made under section 66 of that ActMy work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.





Signed:  Scott McCullough    Dated: 30 July 2025

 
Scott McCullough FCA     Chartered Accountants Ireland

 
Suite 2.06
Custom House
Custom House Square
Belfast
BT1 3ET
Page 6

 
ABUNDANT NEW LIFE TRUST
 
(A Company Limited by Guarantee)


 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025


Unrestricted funds
2025
Total
funds
2025
Total
funds
2024
Note
        £
        £
        £

Income from:






Donations and legacies

3

71,200

71,200

807,520
 
Investments

4

31,484

31,484

62,704
 
Total income
102,684
102,684
870,224
Expenditure on:






Charitable activities

5

114,109

114,109

102,821
 
Total expenditure
114,109
114,109
102,821

Net movement in funds
  
(11,425)
(11,425)
767,403

Reconciliation of funds:

  




Total funds brought forward

  

767,403

767,403

-
 
Net movement in funds

  

(11,425)

(11,425)

767,403
 
Total funds carried forward
  
755,978
755,978
767,403

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 10 to 19 form part of these financial statements.

Page 7

 
ABUNDANT NEW LIFE TRUST
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: NI686864


 
BALANCE SHEET
AS AT 31 MARCH 2025


2025
2024
Note
£
£

Fixed assets
  

Investments
 9 
42,788
36,902

  
42,788
36,902

Current assets
  

Debtors
 10 
12,480
14,851

Cash at bank and in hand
  
802,270
1,091,650

  
814,750
1,106,501

Creditors: amounts falling due within one year
 11 
(101,560)
(376,000)

Net current assets 
  
 
 
713,190
 
 
730,501

Total assets less current liabilities
  
755,978
767,403

Net assets excluding pension asset 
  
755,978
767,403

Total net assets 
  
755,978
767,403


Charity funds
  

Restricted funds
 13 
-
-

Unrestricted funds
 13 
755,978
767,403

Total funds
  
755,978
767,403

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:

Mr J McFadden
Trustee
Mr S Fleming
Trustee
Date: 30 July 2025
Page 8

 
ABUNDANT NEW LIFE TRUST
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: NI686864


 
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025


The notes on pages 10 to 19 form part of these financial statements.

Page 9

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Abundant New Life Trust is registered as a charitable company limited by guarantee, incorporated in Northern Ireland with company registration number NI686864.  The company is registered with the Charity Commission for Northern Ireland with charity registration number NIC109067.
The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
The registered office is situated at Suite 2.06, Custom House, Custom House Square, Belfast, BT1 3ET.


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.

Abundant New Life Trust 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.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

  
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.

Page 10

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

  
2.4

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

  
2.5

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

  
2.6

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.7

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.


2.8

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.

  
2.9

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.

Page 11

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

  
2.10

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.

Investment income, gains and losses are allocated to the appropriate fund.


3.

Income from donations and legacies



Unrestricted funds
2025
Total
funds
2025
        £
        £
 


Donations

71,200

71,200




Unrestricted funds
2024
Total
funds
2024
        £
        £


Donations

795,020

795,020

Gift Aid claim

12,500

12,500



807,520
807,520


4.

Investment income



Unrestricted funds
2025
Total
funds
2025
        £
        £



Interest on cash deposits

31,484

31,484


Page 12

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.Investment income (continued)



Unrestricted funds
2024
Total
funds
2024
        £
        £



Investment income

29,168

29,168

Interest on cash deposits

33,536

33,536



62,704
62,704


5.

Analysis of expenditure on charitable activities


Summary by fund type



Unrestricted funds
2025
Total
2025
        £
        £



The advancement of religion

99,109

99,109

The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage

15,000

15,000



114,109
114,109



Unrestricted funds
2024
Total
2024
        £
        £



The advancement of religion

90,821

90,821

The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage

12,000

12,000



102,821
102,821

Page 13

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.

Analysis of expenditure by activities




Activities undertaken directly
2025
Support costs
2025
Total
funds
2025
        £
        £
        £




The advancement of religion

97,050

2,059

99,109

The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage

15,000

-

15,000



112,050
2,059
114,109





Activities undertaken directly
2024
Support costs
2024
Total
funds
2024
        £
        £
        £




The advancement of religion

81,950

8,871

90,821

The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage

12,000

-

12,000



93,950
8,871
102,821


Analysis of direct costs




Religious activities
2025
Relief activities
2025
Total
funds
2025
        £
        £
        £




Donations to charitable organisations

97,050

15,000

112,050





Religious activities
2024
Relief activities
2024
Total
funds
2024
        £
        £
        £




Donations to charitable organisations

81,950

12,000

93,950


Page 14

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.Analysis of expenditure by activities (continued)

Analysis of support costs



Religious activities
2025
Total
funds
2025
        £
        £



Bank charges

93

93

Insurance

330

330

Governance costs

1,636

1,636



2,059
2,059



Religious activities
2024
Total
funds
2024
        £
        £



Bank charges

33

33

Governance costs

8,839

8,839



8,872
8,872


7.

Independent examiner's remuneration

2025
2024
£
£

Fees payable to the Company's independent examiner (2024 - audit) for the independent examination (2024 - audit) of the Company's annual accounts
624
5,100

Fees payable to the Company's independent examiner in respect of:

Accounts preparation fees not included above
936
900

All other services not included above
406
2,839


8.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 15

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation



At 1 April 2024
36,902


Additions
5,886



At 31 March 2025

42,788




Net book value




At 31 March 2025
42,788



At 31 March 2024
36,902


Principal subsidiaries

The following was a subsidiary undertaking of the Company:


Name

Company number

Registered office or principal place of business

Principal activity


NLT Hodge Limited
NI005110
Suite 2.06, Custom House, Custom House Square, Belfast, BT1 3ET
Property holding company

Class of shares

Holding


Ordinary A & B
100%

The financial results of the subsidiary for the year were:


Name

Net assets
£


NLT Hodge Limited
29,168

Valuation
The investment held in NLT Hodge Limited is carried at the cost of the investment plus any costs incurred by the Trust on behalf of the company.  The Trustees are unable to determine the actual value of the shares in NLT Hodge Limited due to uncertainty over the value of the subsidiary's property but are
Page 16

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.Fixed asset investments (continued)

confident that the value is in excess of the stated valuation.


10.



Debtors


2025
2024
£
£


Due within one year

Prepayments and accrued income
12,480
14,851

12,480
14,851


11.



Creditors: Amounts falling due within one year


2025
2024
£
£


Other creditors
100,000
370,000

Accruals and deferred income
1,560
6,000

101,560
376,000


12.



Financial instruments


2025
£

Financial assets

Financial assets measured at fair value through income and expenditure
802,270


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


13.

Statement of funds


Statement of funds - current year

Balance at 1 April 2024
£
Income
£
Expenditure
£
Balance at 31 March 2025
£

Unrestricted funds





General Funds - all funds

767,403

102,684

(114,109)

755,978
 

Page 17

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

14.

Summary of funds


Summary of funds - current year

Balance at 1 April 2024
£
 
Income
£
 
Expenditure
£
 
Balance at 31 March 2025
£
 
General funds

767,403

102,684

(114,109)

755,978
 

Page 18

 
ABUNDANT NEW LIFE TRUST

(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

15.

Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds
2025
Total
funds
2025
        £
        £


Fixed asset investments

42,788

42,788

Current assets

814,750

814,750

Creditors due within one year

(101,560)

(101,560)

Total 


755,978
755,978




16.


Related party transactions

During the year the charity continued to hold an interest-free loan from a related party.  This loan has been provided for an indefinite term and for the sole purpose of earning interest for the charity's funds.  The balance outstanding at 31 March 2025, is as follows:


Amounts owed to related parties
£


2025
100,000

2024
100,000


17.


Controlling party

During the year the charity was under the control of the Board of Trustees.  The Trustees are considered to be the ultimate controlling party.

Page 19