Company Registration No. 472409 Charity Registration No. 213148 THE BRITISH AND IRISH CHURCHES TRUST LIMITED (A charitable company lirnited by guarantee) Report and Financial Statements 31 December 2022
THE BRITISH AND IRISH CHURCHES TRUST LIMITED IA charitable company limited by guarantee) REPORT AND FINANCIAL STATEMENTS 2022 CONTENTS Page Directors (Trustees) report Statement of directors, responsibilities Independent auditor's report Statement of financial activities Balance sheet Statement of cash flows Notes to the accounts
THE BRITISH AND IRISH CHURCHES TRUST LIMITED IA charitable company limited by guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The directors present their annual report and the audited financial statements for the year ended 31 December 2022. Reference and administrative details CharTty number 213148 Company number 472409 Registered office Inter Church House plc 35-41 Lower Marsh London SE1 7RL Independent auditor Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG Bankers Barclays Bank plc 1 Churchill Place London E14 5HP Solicitors Bates Wells 10 Queen Street Place London EC4R 1BE Directors and trustees The directors who served during the year were as follows.. The Rt. Rev Mgr Canon N J Rothon (Chairman) Ms Nicola Brady Mr Michael Mcclure Mr Mark Currie Mr NTck Georgiadis Mr Martin Birch Company secretary Mr M Birch Structure, Governance and Management Governing Document The British and Irish ChLirches Trust Limited is a company limited by guarantee and a registered charity. The principal activity of the Company is to act as custodian trustee for Churches Together in Britain and Ireland and Christian Aid. All charitable expenditure is i n relation to grants made to the connected charities.
Connected charities The company is connected to Churches Together in Britain and Ireland Iregistered charity number 11132991 and Christian Aid Iregistered charity number 11058511. Recharged oxpenses all derive from these connected charities. The principal contact address for Christiaii Aid is Inter Church House, 35-41 Lower Marsh, London SE1 7RL, and the principal contact address for Churches Together ln Britain and Ireland is also Inter Church House, 35-41 Lower Marsh, London SE17RL. FLinds held on bohalf of others The Conipany acts as a custodian trustee for Christian Aid and Churches Together in Britain and Ireland. All assets held by the company as a custodian trustee are either as cash or investments and are accounted for separately, including the use of separate and disti nct bank accounts. Trustees The Board should comprise a maximum of ten members, six nominated by Christian Aid and four by ChLJrches Together in Britain and Ireland. At the end of the financial yeai. there were foLir vacancies. No Director or Secretary received any remuneration or expenses from the Company. In accordance with the Articles of Association, one third, or the number nearest to one third of the Directors retire from office at the Annual General Meeting and may stand for re-election at that meeting. Trustees of BICT Ltd are either trustees, directors or senior members of staf f of Christian Aid or Churches Together in Britain and Ireland and as such are appointed f or their understandi ng of charity and company law and besl practice in organisational governance. Through their respective organisations they are kept Up-to-date with current rules, regulations and best practice. New trustees are offered an induction to Christian Aid, Churches Together in Britain and Ireland and the British and Irish Churches Trust. Key management personnel Day to day management of the Charity is effectively devolved by the Trustees to the Chief Operating Off icer of Christian Aid for the time being who is also appointed as Secretary to the Trust. Key management personnel and Trustees receive no remuneration from BICT Ltd. Accounting treatment of entity For accounting PLJrposes the property known as Inter Church House to which Lhe Trust retains legal title is treated as a joint arran£ement not an entity by The British and Irish Churches Trust Limited. On 13 December 2003 Christian Aid entered into a lease with BICT Ltd to occupy the whole property. Risk management The Directors have given consideration to tho major risks that the company 15 exposed to and assessed the likelihood of these risks occurring and the li kely level of impact each risk poses. They have also considered the controls that are iii place for these risks and have identified areas of action for the next year. This is an annual process, which the Di rectors undertake to ensu re that the operations of the company are adequcltely proLected agciinst the risks it f acos in achieving its strategic objectives. The Directors have taken accouiit of the major risks to which the charity is exposed and set in place appropriate control measures. The pri ncipal risk is to the integrity of Inter-church House, which is managed by appropriate policies and procedures within Christian Aid (the lessee), and by ensuring that an appropriate level of insurance is in place arid reviewed annually. The trustees recognise their responsibility for ensuriiig Inter Church House is an office environment that Ts safe from harm and has therefore confirmed with Christian Aid a5 tenant and through Christian Aid with its sub-tenants that
appropriate policies and procedures for managing health, safety and security risks including safeguarding of children and vulnerable adults are in place, monitored and regularly reviewed. The Trustees remain satisf led that Christiaii Aid has robust policies in these areas as do other sub-tenants Tn ICH. Reserves policy The Charity holds an unrestricted reserve of £20,000 at the balance sheet date. This is considered by the Board to be the appropriate level of reserve to meet any liabilities in the event of cessation of operations. It is reviewed annually to ensure that thi5 15 sufficient, but not excessive, for meeting this reqLiirement. Achievements and performance, and fin,ancial review Throughout the year the Company continued to hold assets in its role as custodian trustee, acting on the instruction5 of Churches Together in Britain and Ireland and Christian Aid. Dliring the year, the income generated by the Company, comprising rent, recharged expenses and other income totalled £1,209,401 (2021: £1,208,772), which after the addition of interest receivable, ensured all costs were met. On 7lli February 2019, a resolution was signed to agree that the annual rent payable under the lease of Inter Church House, 35-41 Lower Marsh, London SE1 7RL made between British and Irish Churches Trust Limited and Christian Aid would be increased to £1,200,000 per annum from 15 December 2018. This arrangement continued through the financial year 2022. The British and Irish Churches Trust Limited acts as custodian trustee on behalf of Christian Aid f or the following two properties.. 26 St. Leonard Road, Harrogate, 2 Preshaw Crescent, Mitcham. Churches Together in Britain and Ireland has retained its equity share in the property Inter Church House. Christian Aid leases the whole of the property from The Brit15h and Irish Churches Trust Limited under a lease signed 271h March 2017. Plans for future periods The Company will continue to act as a custodian trustee for Christian Aid and Churches Together in Britain and Ireland for the foreseeable future. The Directors coiisider the Company to be a going concern. Public benefit The Charity Commission in its Charitie5 and Public Benefit Guidance requires that there are two key principlos to bc mct to show Lhat an organisation'5 aim5 are for tho public benefit. Firstly, there niust be an identifiable benefit. Second, the benefit must be to the public or a section of the public. The Trustees confirm that iii setting the Charity's objectives and iii planning its activities, they have had due i egard to the Charity Commission's guidance on public benefit and that they will continue to ensure each year that they will consider how the Charity continues to meet Ihe public benefit objectives outlined in the Charities Act 2011. The Trustees are satisf led that the Charity meets the requi rements and conforms with the Act's definition of a Chari iy meeLing all of Lhe key elemen Ls of the two key principles.
THE BRITISH AND IRISH CHURCHES TRUST LIMITED IA charitable company limited by guarantee} STATEMENT OF DIRECTORS, RESPONSIBILITIES The directors are responsible for preparing the Annual Report cind the financial statement5. The director5 have chosen to preparc the accounts for the company in accordance with United Kingdom Generally Accepted Accounting Practice. Company law requires the directors to prepare such financial statement5 for each financial year which give a trLie and f air view, in accordance witli United Kingdom Generally Accepted Accounting Practice, of the state of affairs of the company and of the income and expenditure of the company for that period and comply with UK GAAP and the Companies Acl 2006. In preparing those f iE)ancial statements, the directors are required to: (a) {b) Icl Id) select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent; state whether applicable accountincF Standards have been followed; prepare the financial statements on the going concern basis unless it is iiiappropriate to presume that the company will continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the compaiiy and to 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 f raud and other i rregularities. Each of the persons who is a director at the date of approval of this report confirms that., there is no relevant audit information of which the company's auditors are unaware.. and he / she has taken all the steps that helshe ought to have taken as a director to make himselflherself aware of any relevant audit information and to establish that the company's auditors are aware of that information. This conf irmation is given and should be interpreted in accordance with the provisions of $418 of the Companies Act 2006. Approved by the Board of Directors and signed on behalf of the Board N Rothon Director M Birch Secretary Date: ?) .Iiili. ?{)? 3
Independent Auditor's Report to the Members of The British and Irish Churches Trust L7mited Opinion Wo have audited the financial stateinents of The British ai)d Irish Churches Trust Limited for the year ended 31 Deceinber 2022 which comprise the Statement of Financial Activities (incorporating cin income and expenditure account), the Balance Sheet, the Statement of Cash Flows and notes to the fi nancial statements, includi ng a summary of siqnificant accounting policies. Tlie financial reporting framework thal has beeii applied i n their preparation is applicable law and United Kingdoni Accountiiig Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Repiiblic of Ii-eland (United Ki ngdom Generally Accepted Accolinting Practice). I n our opinion, the financial statements: give a true and f air view of the state of the charitable comp£iny's affairs as at 31 December 2022 and of the chai"itable company's net movement in funds, inclLJding tlie income and expenditure, for tl)e year theii ei)ded; have been properly prepared in accordance with United Kingdom Generally Acceptod Accounting Practice- and have been prepared in accordance with tho requirements of the Companies Act 2006. Basis for opinion We coi)ducted our audit in accordance with I nternational Standards on Auditi ng IUKI I ISA5 IUKII and applicable law. Our resp0115Tbilitie5 under those standards are further described Tn the Aiiditor'5 respoiisibilities for tlie audil of the financial statements section of our report. We are iiidependent of the charitable company i n ciccordanco with the ethical rcqLiircments tl)at are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfillod our other etliical I"esponsibilities in accoi"dance with these requirements. We believe that the audit evidence wo have obtained is sufficient cind appropriate to provido a basis for OLir opinion. Conclusions relating to going concern In auditing the financial stcltements, we have concluded that the trustees, use of the going concern basis of accoLinting in the preparation of the financial statements is appropriate. Based on tlie work we have perforn)ed, we liave not ideiTrtif led any material uncei"tainties relating lo events or coiiditions that, individually or collectively, n)ay cast si4nilicant doubt on the charitable company's ability to continue a5 a going conccrn for a p@riod of at l@ast twelve rnonths f rom when the fi nancial statemeiits are authorised for issue. Our responsibilities and the responsibi lities of tho trustees with respect to going concern are doscribcd 111 the relevant sections of this report. Other information The trustees are responsible for" the other iiifoi"matioii. The othei" infoi"mation comprises the informotion included in tho Trustcos, Annual Report. Our opi nion on the financial statcmcnts docs not cover the other information and, except to the extent oihepNi5e explicitly stated in OLir report, we do not express any form of assurance conclusion thoroon. Iii coniieclion with our" audit of the financial statemei)ts, our I"esponsibility is to read tlie other information and, li) doing so, considor whethvr the otl)er information is matorially inconslstent with the financial Statements or our" kiiowled£e obtained in the audit oi" otherwise appears to be materially mi55tated. If we ideiitify SLich material inconsistencies or appcirent material misstatements, we are required to determine whether tliei"e is a matei.ial niisstateinent 111 the fiiiancial statements oi" a matei'i¢il mi5Statement of tl)e other information. If, basod on the woi'k we have po.rformed, we conclude that there is a material mis5tatemeiit of this Other informatioii, we are required to report that fact. We have nothing to report in thi5 regard.
Independent Auditor's Report to the Members of The British and Irish Churches Trust Limited (conti nued) Opinions on other matters prescribed by the Companies Act 2006 In our opinion, bcised on the work Lindei"tciken in tlie COLirse of the <iiidit'. the inforrTiation given iii the Ti"ustees' Annual Report (which includes the directors, report prepared for the pui poses of company lawl for the fii)ancial year for which the financial Statements are prepared is consistent with the financial statements,. and and the directors, report included witliin tlie Trustees, Annual Report have been prepared in accordance with applicablc legal requirements. Matters on which we are required to report by exception In the light of the knowledge and Lindcrstanding of the charitable company and it5 enviroiii7ieiit obtained iii the cour'se of the audit, we have not identified tllaterial misstatements in tho Trustees, Annual Report (which incorporates the sti ategic report and the directors, report). We have nothing to I"eport in respect of tho. followiiig matters in relation to which the Companies Act 2006 requires us to roport to YOLI if, in our opinion- adequate accounting records have nol been kept by the charitable company; or the chai"itable company fi nancial statements are not in agreement with the accounting records and returns. or certai n disclosures of trustees, remuneration specified by law are not made,. or we havo not received all the information and explanations we require for our audit. or the tru5teos were not entitled to prepare the financial statements i n accordance with the small companies. regime and tako advantage of the small companies, exemptions in preparing the trustee5' report and from the reqLJirement to prepare a strategic report. Responsibilities of trustees for the financial statements As explai ned more f ully in the trustoes, respoi)sibi lities statement set out on page 5, the trustees Iwho arc also the directors of the charitablc company for the purposes of cotnpany lawl are rcsponsible for the preparation of the financial stateiments cind for being satisfied that tliey give a true and fai r view, and for such internal control as the ti"uslee5 determine is nocc55ary to enable the preparation of financial statements that are f ree f rom material misstcltement, whether diie to fraud or error. In preparing the financial statements, the trustees are responsible for assessii)g the charitable company's ability to continue as a going concern, disclosing, as applicable, matters relatod to going concern and using tl)e going concei.ii basis of accounting unless the trustees either i ntend to liquidate the charitable cornpany or to cease operations, or have no realistic alternative but to do so. Auditor's responsibi lities for the audit of the financial statements Our objectives are to obtiiin reasonable assLirance abolit whether the financial statements as a whole are free f rom material misstatetnent, whether due to f raLid or error, and to issue an aLiditor's report that Tnclude5 our opinion. Reasonable assurance is a high Icvcl of assurance, but is not a guarantee that cin audit condiicted in accordaiice willi ISAS IUKI will alway5 detect a matei ial misstatement when it exists. Misstatements can arise f rom f raiid or orror and are considered triaterial i f, individLially or in the aggregato, they could I'easonably be expectcd to i nfliience the economic decisions of users Laken on the basis of these financial statenients. IrregLilarities, inclLJdiiig fraLid, (ire i n5tance5 of non-compliance witli laws and regulatioiis. We design procedures in line with our I"esponsibilities, OLltlined above, to detect materi31 misstcltemeiits in respecl of irregulai"ilies, iiiclLidiiig fraud. The extent to whicli oui" procedures are capable of detecting irregiilarities, iiicluding f i-aiid is detai led below: Biised on oiir ijndcrstanding of the and the eiivironment in wl)ich it operates, we identified that the pri ncipal risk5 of non-compliance with laws riiid regulations related to rc4Lilatory I"eqLiirements ol the Cliarity Comniission, and we con5idcrod the extent to which non-compliance might have ci material effect on thc fi nancial statemeiits. We a150 considered those laws and regulations that have a di rect
Independent Auditor's Report to the Members of The British and Irish Churches Trust Limited (continued} impact on the preparation of tlie fiiiancial stateineiits such as the Coinpanies Act 2006 and tl)e Chai ities Act2011. We evaluated nianageinent's inceiitives and opportunities for f raLiduleiit manipulation of the finaiicTal Statements li ncluding the risk of override of coiitro151, and determi lied that the principal risk5 wei"e relclted to posting inappropriate jOLirnal entries and management bias in accounting estimates and jLidgements. Audit procedures performed by the engagement toam included.. Inspectii)g correspondence with regulators and tax authoritie5', DiscL15S10115 Wlth management 7nclLidi ng consideration of known or SLispected instcinces of non- cornpliance with laws and regulation and fraLJd', Evaluating managemenl's contr.ols desigiiod to prevent and detect irregularities; Identifying and testiiig journal entries,. and Challenging assumptions and judgements made by management in their critical accounting estimates Becatjse of the inherent liniitations of an audit, tliei'e is a risk tliat we will not detect all irre4Lilarities, includi ng those leading to a material mi55tatement in the financial staterncnt5 or non-compliance with regulation. This risk increase5 the fflore that compliance with a law or regulation is removed from the events and traiisaction5 ref lected in the finaiicial statements, a5 we will be less likely to become aware of i nstances of non-compliance. The risk is also greater regarding irregulhrities occurring dLie to f raud ratl)er than eiror, as fraud involves inteiitional concealment, forgery, collusion, on)ission or misrepresentation. A further description of our respoiisibi litie5 for the audit of the fi nancial stateiments is located on the Financial Reporting Council's website at: www,f rc.or . Lik/auditorsre5 on5ibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our aLidit work has been undertaken 50 that wc might state to the charitable cornpany'5 members those matters we are requi red to State to them in an Auditor s report cind for no other PLifp05e. To the f Lillest extent perrnitted by law, we do not accept or c75SLime I"esponsibility to anyone othei tlian tlie charitable compaiiy aiid tlio ch31'itable company's mombers, as a body, for our hLidit work, foi. this report, or for the opi nioi)s wo have formed. Adam Halsey Senior Statutory Auditor For and on behalf of Haysmacintyre LLP StatLJtory Auditor London Date.. 31 July 2023
THE BRITISH AND IRISH CHURCHES TRUST LIMITED (A charitable company limited by guarantee) Statement of financial activitie5 {incorporating an income and expenditure account) for the year ended 31 December 2022 2022 2022 Total funds 2021 2021 Total Unrestricted funds Unrestricted funds Note fund5 Income and endowments from: Charitable actiyitiès Rental inc_oine froin lease Recharged expensos 1, 200,000 1,200,000 9,401 9,401 1,200,000 8,772 1,200,000 8,772 Total 1,209 401 1 209.401 1,208,772 1 208,772 Expenditure on: Charitable activitie5 Granls lu connpc.ted Chaiitie5 Other 1,200,000 1,200,000 9,401 9,401 1,200.000 8,772 1,200,ffl0 8,772 Total 1,209,401 1,209,401 1,208,772 1,208 772 Net income/lexpenditure Trar15fers between fLind5 Other rec.ogni5ed g<iiris111()%s?sl Net movement in funds Reconciliation of funds: Total lui)ds broLight for4Nard 20,000 20,ffl0 Total funds carried forward zo,000 20,000 20,000 All ii)i-.()niirig aiid OLltgoing i-esoui'ces dèrivéi Iiom continiii110 nperatiJiis. Tlie vnly iec.ogiii%èd gJaii)s and losses ar? tlie i esults Included in the Stclt(.'rn?rir ol Pinancial Activitic's., accoi dingly nts stateiiieriL ol total recogni5ed gai11s ai)d losses is inclLideol.
THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
Balance sheet
as at 31 December 2022
| Balance sheet as at 31 December 2022 |
|||
|---|---|---|---|
| Note | 2022 | 2021 | |
| £ | |||
| Current assets | |||
| Debtors | 4 | 22,900 | 19,644 |
| Cash at bank | 109,000 | 109,005 | |
| 131,900 | 128,649 | ||
| Liabilities | |||
| Creditors: amounts falling due within one year | 5 | (111,900) | (108,6491 |
| Net current assets | 20,000 | 20,000 | |
| Total net assets | 20,000 | 20,000 | |
| The funds of the charity | |||
| Unrestricted funds | 20,000 | 20,000 | |
| Total funds | 20,000 | 20,000 |
Approved and authorised for issue by the Board of Directors and signed on behalf of the Board of Directors
N Rothon Director
Date: 25 July 2023/, Company Registr-ation no: 472409
9
THE BRITISH AND IRISH CHURCHES TRUST LIMITED IA charitable company lim7ted by guarantee) Statement of cash flows as at 31 December 2022 Note 2022 2021 Cash flows from operating activities Net r.ash utilised by operating ac.tivities Change in cash and cash equivalents in the reporting period CaEh and cash equivalents at the beginning of the reporting period 109,005 109,005 Cash and cash equivalents at the end of the reporting period 109,000 109 005 Reconciliation of net income to nèt cash flow from operating activities Increase In dEbtors 13,2561 16,6371 Inirease ii) c.rediLors 3,251 Net cash outflow from opeiating activities 15 Analy515 Qf cash and cash equivalent5 Cash at bank and iri Iiand 109,000 109 005 Tolal casli and cash eqiiivalerits 109,000 109,005 10
THE BRITISH AND IRISH CHUIRCHES TRUST LI.MITED (A charitable company limited by guarantee) Notes to the accounts 1. Accounting policies Basis of preparation The accounts (financial statements} have been prcparcd in accordance with the Charities SORP IFR51021 applicable to chai ities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 {Second Edition, effective 1 January 20191 and UK Generally AccepLed Practice as it applies from 1 January 2019. The accounts are prepared under the historical cost convention. The Trustees believe there are no material uncertainties about the charity's ability to continue, and therefore the accounts have been prepared under the going concern basis. These fiiiancial statements present the results of BICT, a charTtable company registered in England and Wales. Income policy All incoming resources accruing to the charity during the year are recognised in the statement of f inancial activities as soon as it is prudent and practicable to do so, when entitled, probable and measurable. Rental Income from Lease consists of income from Christian Aid arising f rom the rent of Inter Church House. All other income is derived f rom recharging costs to the Charity's parent entities. Expenditure policy Expeiiditure consists primarily of giants to Connected Charities consisting of grants of income arising from the rent of Inter Church HoLise. Other expenditure consists of audit fees, insurance costs and minor ancillary runnin£ expenses, as set out in Note 2. 11
THE BRITISH AND IRISH CHURCHES TRUST LIMITED (A charitable company limited by guarantee) Notes to the accounts (continued) Taxatio BICT as a registered charity is potentially exempt f rom taxation on i ncome and gains falling within seclion 466-493 of the Corporation Taxes Act 2010 and section 256 of the Taxation of Chargeable Gain Act 1992 to the extent these are applied for charitable purposes. Funds General funds are donations and other incoming resoLirces receivable or generated for the objects of the Chari Ly Wlthout specif led purpose. Judgement5 and estimate5 In the application of the charity's accounting policies, Trustees are requi red to make judgements, estimates, and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 underlyin£ cissumptions are reviewed on an on-going basis. Revisions to accounting esLimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and f uture periods. In the view of the Trustee5, no assumptions concerning the future or estimation uncertainty affecting assets and liabiliLies at Lhe balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. The principal accounting policies, as set out above, have all been applied consistently throughout the year and the precediiig year Fi nancial Assets and Liabi lities BICT has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basic financial instrument5 are initially recognised at transaction value and subseqLiently measured at amort15ed cost using the effective interest melhod. Financial assets held at amort15ed cost comprise trade and other debtors. Financial liabilities held at amortised cost compriso, trade and other creditors. The f inancial assets held at amortised cost al 31 December 2022 were E131 , 90012021 . £128,649). The financial liabilities held at amortised cost at 31 December 2022 were E111,900 12021.. £108,6491. 12
THE BRITISH AND IRISH CHURCHES TRUST LIMITED (A charitable company limited by guarantee> Notes to the accounts {continLJed) Expenditure Grants to Corpnected Charities Grants to Connected Charities consists of grants of income arising from the rent of Inter Church House to Christian Aid. Other Charitable activities includes the following: 2022 2021 Charge for Light and Space Insurance premiums Auditor'5 remuneration audit fees Bank Charge5 150 8,406 150 7,842 840 780 9,401 8,772 There were no employees in BICT, in the current or previous year. Net incotnellexpenditure) Net incomel (expenditure) for the year is staled af ter charging: 2022 2021 Auditor's remuneration - audit fees Inet of VAT} 700 650 Key management personnel and Trustees receive no remuneration from BICT Ltd. DEBTORS 2022 2021 Prepayments Christian Aid - current account 11,351 7.375 CTBI current Account 11,549 12,269 22,900 19,644 13
THE BRITISH AND IRISH CHURCHES TRUST LIMITED IA charitable company limited by guarantee> Notes to the accounts (continued) 2022 2021 5. CREDITORS Accruals Christian Aid - current account 91,005 94,248 111 900 108,649 6. RELATED PARTY TRANSACTIONS Related party transactions in the year consisted of the recharging of expenses and grant5 of income arising f rom the rent of I nter Church House to Christian Aid. There have been no related party transactions that require disclosure other than transactions with connected charities, as follows: 2022 2021 Payments received from connected charities for rent: Christian Aid 1,200 000 1,200.000 Grant5 made to connected charities of rent received.. Christian Aid Churches Together in Britain and Ireland 849,621 350 379 856,956 343,044 1,200,000 1,200,000 Amounts due Itollfrom connected charities aL balance sheet date: Recharged expenses Christian Aid ChLirches Together in Britain and Ireland Payment of insLJrance premium on behalf of BICT Ltd 6,698 2,703 6,250 2,522 Christian Aid Payment of audit fee5 On behalf of BICT Ltd Christian Aid 112,3831 18,0451 {8401 {7801 14
- CUSTODIAN TRUSTEE The Trust holds as custodian trustee the freeholds of the office property known a5 Inter Church House and a number of residential properties, on behalf of Christian Aid and CTBI. 15