Registered number: 10399618 (England and Wales) Charity number: 1171964 TOUREEN DIVINE MERCY (A Company Limited by Guarantee) UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Riordan O'sullivan & Co Chartered Certified Accountants 40 Chamberlayne Road London NW10 3JE
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) CONTENTS Page Reference and admlnlslratlve details ot the charity, its trustees and advisers Trustees. Report Dlre¢tors' responsibilities staternent Independent Examlner's Report Statement of Financlal Actlvltles Balance Sheet Notes to the Flnanclal Statements 9-15
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Directors Denis Nolan Michael Sheahan Company registered number 10399618 Charlty registered number 1171964 Registered office 25 Cecil Road Harrow Middlesex HA3 5QY Accountants Riordan O'sullivan & Co Chartered Certified Accountants 40 Chamberlayne Road London NW10 &IE Bankers Natwest Bank 250 Bishopsgate London EC2M 4AA Page 1
TOUREEN DIVINE MERCY (A Company Limiled by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their annual report together with the financial stalements of Toureen Divine Mercy for the year ended 30 September 2024. The Annual Report seNes 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 aOuntS in accordance with the Financia] Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 20191. Since the charity qualities as small under section 382 of the Companies Act 2006, the Strategic Fleport required ol medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitled. Objectives and aclivllies a. Policies and objectives The charity's objectives are for the relief of families of poor and terminally ill United Kingdom construction industry workers in particular but not exclusively by the provision of financial and other charitable support as the directors see fit from time to time. b. Activlties for achlevlng oblectlves The activities of Ihe charity were to provide financial assistance to families of workers who had difficuliy in paying funeral expenses of their deceased. Public benefit In setting objeclives and planning for activities, the directors have given due consideration lo general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity {P821', and Ihis report seeks to comply with that guidance by clearly explaining and illustrating how the charity delivers public benefit. d. Risk assessrnent The Board of directors has assessed the major risks to which Toureen Divine Mercy is exposed, in particular those related lo the operations and finances of the charily. The Board is satisfied thal management and control systems are in place to mitigale the charitvs exposure to major risks and undertakes to review these risks and controls each year. Achievements and performance a. Activities The trustees confirm that sufficient funds were raised which were used to provide some financial assistance to families of workers as per the objectives. No fundraising activities were held during ihe year. b. Revlew ot charltys Ilnanclal position ft)r the period The results for the year are set out on page 7. The income for the year was £100,000. The expenditure for the year was £53.258 which in turn increases the reserves carried foNard to £227,881. Page 2
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Financial review a. Going concern After making appropriate enquirres, the Trustees have a reasonable expectation that the charity 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. Reserrfes polley The Trustees consider it prudent to maintain an adequate level of unrestricted reseNes to provide funds which can be designated for specific charitable pury)oses. Struclure, governance and managemenl a. Constllutlon Toureen Divine Mercy is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. It does not have share capital, cannot pay dividends and must utilise all its funds to further its stated charitable objects. Under Clause 7 of the Memorandum of Association every full member, as defined by Clause 3 of the Articles of Association. is liable to contribute a sum if necessary and not exceeding £10 in the event of Toureen Divine Mercy being wound up. b. Methods of appolntment or electlon ot Trustees The management ol the charity is the responsibility of the directors who are elected and co-opted under the lerms of the Memorandum of Association. c. Organlsatlon The Board of Directors. which comprises of 2 Trustees, is the governing body of Toureen Divine Mercy. It is responsible for overseeing the management of Toureen Divine Mercy. Dlre¢tors The Directors who seNed the charitable company during the year were as follow: Denis Nolan Michael Sheahan Trustees The Trustees who served the charitable company during the year were as follow: Denis Nolan Michael Sheahan Patrick McNamara Page 3
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) TRUSTEES. REPORT (coriNuED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Trustees. Interests Both directors are trustees of the charity- Directors may claim for reasonable expenses incurred in undertaking the objectives of Toureen Diwne Mercy but in Ihis case, they do not receive any expenses. remunerations or other financial benefit. Directors have confirmed that they do not have and have not had any beneficial interest in any contract with the company. Approved by order of the members of the board of Trustees on 14 April 2025 and signed on their behalf by.. Denis Nolan Director and Truslee Page 4
TOUREEN DIVINE MERCY (A Company Limiled by Guarantee) STATEMETrff OF DIRECTORS, RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The directors (who are also the trustees of the charty for the puryioses 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 Truslees to prepare financia] 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 charity and of its incoming resources and application of resources, including its income and expenditure. for that period. In preparing ihese tinancial 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 thal are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitys transactions and disclose wtth reasonable accuracy at any time the financial posilion of the charity and enable them to ensure that the financial stalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 14 April 2025 and signed on its behalf by.. Denis Nolan Director and Trustee Page 5
TOUREEN DIVINE MERCY (A Company Limited by Guaranlee) INDEPENDETr EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Independent Examlner's Report to the Trustees of Toureen Divine Mercy ('the ¢harltY) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 September 2024. Responslbilitles and Basis of Report As the directors of Ihe charity (and ils trustees for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act,). Having salisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charitys accounts carried out under section 145 of the Charities Act 2011 (Ihe 2011 Act'l- In carrying oul my examination I have followed the Directions given by the Charity Commission under section 145{5llb) of the 2011 Acl. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come to my attenlion in connection wilh Ihe examination giving me cause to believe- accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the accounts do not accord with those records. or the accounls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a'true and fair, view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by chartties lapplicable to charities preparing their accounts in accordance wtth the Financial Fleporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems 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 accounls lo be reached. This report is made solely to the charitls Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulalions 2008. My work has been undertaken so that I might state to the charitls Trustees those matters l am required to state lo 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 charity and the charitys Truslees as a body. for my work or for this report. Dated- 14 April 2025 Kumar Perumal IFCCAI Riordan O'sullivan & Co Chartered Certified Accountants 40 Chamberlayne Road London NW10 3JE Page 6
TOUREEN DIVINE MERCY (A Company Llmited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unreslricled funds 2024 Restricted funds 2024 Total funds 2024 Total furFds 2023 Note Income from: Donations and legacies 100,000 100,000 100,323 Tolal income 100,000 100,000 100,323 Expenditure on: Charitable activilies 53,258 53,258 56,083 Tolal expenditure 53,258 53,258 56,083 Net income Transfers between funds 46,742 (46,742) 46,742 44,240 46,742 Nel movement in funds before other recognised gains and losses 46,742 46,742 44,240 Net movement In funds 46,742 46,742 44,240 Reconciliation of funds: Total funds brought forward Nel movement in funds 181,139 46,742 181,139 46.742 136,899 44,240 Total lunds carried fotward 227,881 227,881 181,139 Page 7
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) REGISTERED NUMBER: 10399618 BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note Current assels Cash at bank and in hand 227,881 181, 139 Net assets 227,881 181, 139 Total net assets 227,881 181,139 Charity funds Unrestricted funds 227,881 181,139 Total tunds 227.881 181. 139 The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the year in question in accordance wlh section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect to accounting records and preparation of financiai slatemenls. The financiai statements have been prepared in accordance wilh the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 14 April 2025 and signed on their behalf by: Denis Nolan Director and Trustee Page 8
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 General inlormation Toureen Divine Mercy is a charitable company limited by guarantee incorporated in England and Wales. The registered office is 25 Cecil Road. Harrow. Middlesex HA3 5QY. Accounting pollcles 2.1 Basis of preparation of financial stslements 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 20191. Ihe Financial Fleporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Toureen Divine Mercy meets the definition of a public benefit entity under FRS 102. Assels and liabilities are initially recognised at historical cost or transaction value unless olherwtse stated in the relevant accounting policy. The financial statements are prepared in sterling, which is the functional currency of the company. Due to the liquid reseNes in the balance sheet, the trustees have identified no material uncertainties that may cast a significant doubt over the abilty of the company to continue as a going concern. 2.2 Income All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. All incoming resources are recognised in the Statement of Financial Activities, on page 6, when received ensuring no advance credit of monies are taken and to reflect prudent accounting practice. 2.3 Expenditure Resources are deatt with on an accruals basis and are analysed as detailed on the Statement of Financial Activities. Where costs have nol been directly attributable to a particular category, they have been allocated to activities on a basis consistenl with the use of Ihe resources. Charitable activities and Governance costs are costs incurred on the charitys operations, including support costs and costs relaling to the governance of the charity apportioned to charitable activities. 2.4 Fund accounting The financial statements of a charity must differentiate between restricted and unrestricted funds. General funds are unrestricted funds which are available for use at Ihe discretion of the Trustees in furtherance of Ihe general objectives of the charity and which have nol been designated for other purposes. Reslricted funds are funds which are lo be used in accordance yth specific restrictions imposed by donors or which have been raised by the charity for particular purposes. Page 9
TOUREEN DIVINE MERCY (A Company Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMEfvrrs FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollcles {contlnued) 2.5 Taxation The charity is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therelore it meets the definition of a charttable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent thal such income or gains are applied exclusively to charitable purposes. 2.6 True and fair view By the nature of it principal activities, the company is a non-profit making charity and because of this, a Profit and Loss Account is not included in these accounts. being replaced by a Statement of Financial Activities. Twstees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year, no Trustee expenses have been incurred (2023 - £NIL). Page10
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Analysls of totsl resources expended Summary by fund type Restricted funds 2024 Total 2024 Funeral costs Bank charges 53,257 53,257 Tolal 2024 53,258 53,258 Restricted funds 2023 Total 2023 Funeral cosls Bank charges 56,036 47 56,036 47 Total 2023 56,083 56,083 Page11
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Statement of funds Statement of funds - current ar Balance at 30 Transfers September inlout 2024 Balance al 1 October 2023 Income Expenditure Unrestricted funds General funds blf Transfer funds 181,139 181,139 46,742 46,742 181,139 46,742 227,881 Restricted lunds Funds movement during the year Transfer funds 100,000 (53,258) 46,742 (46,742} (46,742) 100,000 (53,258) {46,742) Total of funds 181,139 100,000 (53,258) 227,881 Page 12
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOFI THE YEAR ENDED 30 SEPTEMBER 2024 Statement of funds (continued) Statement of tunds - prior year Balan al l October 2022 Balance al Transfers 30 September in/oul 2023 Income Expenditure Unrestricted funds General Funds- all funds Transfer funds 136,899 136,899 44,240 44.240 136,899 44,240 181, 139 Restricted funds Restricted Funds - all funds Transfer funds 100.323 (56,083) 44.240 (44,240) {44,240) 100.323 (56,083) (44,240) Total of funds 136,899 100.323 (56,083) 181, 139 Page13
TOUREEN DIVINE MERCY (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Summary of funds Summary of funds - current Far Balance at 1 October 2023 Balance at 30 September 2024 Transfers inlout Income Expenditure General funds Restricted funds 181,139 46,742 (53,258) (46,742) 227,881 100.000 181,139 11)0,000 (53,258) 227,881 Summary ol lunds - prior year Balance al l October 2022 Balance al Transfers 30 Septembei in/oul 2023 Income Expendilure General funds Restricted funds 136.899 44.240 (56.083) (44,240) 181,139 100,323 136.899 100.323 (56.083) 181,139 Page 14
TOUREEN DIVINE MERCY (A Company Limited by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Analysls of net assets between funds Analysls of net assets between funds- current period Unrestricted funds 2024 Total funds 2024 Current assets Current liabilities 227.881 227,881 Total 227,881 227,881 Analysis of net assets between funds - prior perfod Unrestricted funds 2023 Total funds 2023 Current assets Current liabilities 181, 139 181,139 Total 181,139 181, 139 Page 15