Registered Charity No. NIC100221 Company number N1031518 CHURCHES IN CO-OPFRATION Company limited by guaranlee Trustees, Report and Financial Statements for the year ended 31 March 2023
CHURCHES IN CO-OPERATION Company limited by guarantee Directors, Report and Financial Statements for the year ended 31 March 2023 Contents Page Trustees, Report Independent Examiner's Report Statement of Financial Activities Statement of Financial Posilion Statement of Cash Flows Notes to the Financial Sthtements 9-17
CHURCHLS IN cOPERATIoN Company lknlted by guarantee Legal & admlntstratlve inforniatlon Dlrectors Rev Colum Clerkin Mrs mlon Hamilton Rev Philip Boyd Houston Mrs Dawn Cairns Mr Peter Columba Boucher Mr George Walker Mr Robert Kenneth Doherty Mr Thomas Howard Mcconnell Rev Craig Munro Wilson Rev John Nigel Cairns Charlotle Maye Mr Danny Blee Resigned 30th April 2023 Chairperson Appointed 15th November 2022 Appointed 15th November 2022 Resigned 24th April 2023 Se¢retary Mr Thomas Howard Mcconnell Company number N1031518 Chgrfity number NIC100221 Regtstered offlee 22 Bishop Street De B T48 6PP Aceountants McDaid Mccullough Moore 28132 C'larendon Street Derry BT48 7HD Busln&ss address 22 Bishop Street DeLTy B T48 6PP Bankers Ulster Bank Limited Da Vinci Complex Culmore Road Derry B T48 8JB
CHURCHES IN CO-OPERATION Company Ilmited by guarantee Trustees, reporl for the year ended 31 March 2023 The truslees, who are also the directors of the chltY for the purposes of the Companies Act 2006, present their report and ihe findllcidl statementb of Churches in Cothoperation for the year ended 31 March 2023. The directors who served during the year and up io the date of this rcport are set out on the Legal & Administrative page. This report is prepared in accordance with Accounting and Reporting By ChtieS Statement of Recommended Practice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ireland (FRS 102) (effective l January 2019). Structure, Governance and Management Governing Documenr Churches in Co-operation is a charitable company. (company number N1031518), limited by guarantee (with no sharc capital) and its governing document is its Memorandum and Articles of Association. Its charitable status is recognised by HM Revenue & Customs under reference XR10655. The registratinn of Churches in Co-operation with the charitie.s Commisgion of Northern Ireland was completed on 29 July 2014. The company's Northern Ireland Charity Number is NIC 100221. Organisational Structure Churches in Co-operation was set up by th¢ four main line churches in the North West of Ireland (the Trustees). It is currently managed by elected representatives from each of the four main churches in order to contribute lo social and economic renewal across all communities. The Trustees meel regularly to review perforn]ance, detern]ine strategies, assess risk and plan future polici¢s. Churches in Co-operation is managed daily by Jacqueline Garnon, the Centre manager, who is employed by The Churches, Voluntary Work Bureau. The Cenlre Manager is responsible for the provision of adminislrative and clerical duties and for reporting to the Board of Directors. Appointsnent and training of Truytees New truste¢s (directors) are nominated by current trustees (directors). The Anduction and training of new trustees is provided by cxisting trusLees and by the Centre Manager. Mosl trustees, due to their experience and backgrounds, are already familiar with the work of Churches in Co-operation. Ri¥k Managentent. Governanee and Internal Cunir(pl Management havc conduclcd itt> own review of the major risks to which Churches in Co-operation is exSed and systems have been established to mitigate those risks. Risks. identified, such as the financial viability and sustainability of Churches in Co-operation, have been reviewed to ensure that a level of income is sustained s() that the company may continue to support community development. Inlernal risks are minimiscd by the implementation of controls and procedures for authorisation of all transactions. Objectives and Activities (and how they dellver publlc benefit) Charitable Object Churches in Co-operation was established to improve the quality of life of the inhabitants of the area of benefit by supporting and developing the work of community and voluntary groups and organisations, Page I
CHURCHES IN CO-OPERATION Company limlted by guarantee Trustees, report for the year ended 31 March 2023 continued Public Benefit Churches in Co-operation strives to ensure that they provide public benefit. Public benefit is at the heart of what it means to be a charity. To achieve this objectiv¢ Churches in Co-operation aims to advance good community relations, as a cross community organisation supporting and developing the work of the community and volunteering organisations in the North West in charitable activity, to advanc¢ UCatIon and training and provide meeting space facilities and support which are accessible to the community, and to promote such other charitable PUTposes as may from time lo time be determined. Achievements and Performance The resulis for the year are set out on pages 6 - 7. During the year, Churches in Co-operation saw a 6510 decrease in grani funding and a IYO increase in Ihc lev¢1 of rental income received. The charity continu¢d to generate additional income through grant funding received from Department of Communities Northern Ireland administered by CIFoperalion Ireland for ihe upgrading of facdities available io the public. and D¢rry City and Straban¢ DistrACt Council through the Community Support Fund and the Community Venue Fund, for the provision of a broad based communtty development programme and the encouragement of general community participation. The Trustees are satisfied with the results of the company in light of th¢ continued pressure on funders budgets. The Centre Manager deserves great credit for her endeavours over the past year. Flnanclal Review Principlefvnding sources The principle funding sources of Churches in Cowoperation are twofold: l. Grant income (included in both restricted and unrestricted income funding) from Department for Communities Northern treland, administered by Co-operation Ireland for facilities upgrade and Deny City and Straban¢ District Council. 2. Rental Income (included in unrestricted incom¢). Reserves Policy The Trustees have examined the charily's requirements for reserves taking inlo account the risks that Churches in Co-operation has recognised. The T¢serve requirement is estimated to be at least three months of expenditure. Expenditure is currently approximately £15,650, equating to monthly expenditure of approximately £1,300 and quarterly expenditure of £3.900. Unrestricted reserves at 31 March 2023 amounl to £69,738 (31 Mch 2022 - £74,066). The actual reserves at 31 March 2023 are significantly above the desired level. Plans for the future In March 2020, the Covid-19 outbreak was declared a pandemic by the World Health Organisation. The impact on the company to date has not been significant but the outbreak has interfered with general activity levels within the community and economy. There is still uncertainty as to the duration of the pand¢mic and what its lasting impact will be on lh¢ economy. Page 2
CHURCHES IN CO-OPERATION Company limited by guarantee Trustees, report for the year ended 31 Mareh 2023 . continued Trustees, Responsfibilities Statement The trustees (who are also the directors of the charitable company, for the puryoses of company law) are responsible for preparing the Trustees, Annual Report and ihe financial slaiements in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for cach financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charilable company for thai period. In preparing these financial statements. the trustees are required to: selecl suilable accounting policies and then apply them consistently. - observe the methods and principles in the ChltieS SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any maierial departures disclosed and explained in th¢ financial slatements" prepare the financial statements on the going conccrn basis unless it is inappropriate lo presume thal the charitable company will conlinue in operation. The trustees responsible for keeping adequate accounting records thai disclose with reasonable accuracy at any time the fjnancial position of the charitable company and to enabl¢ them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking asOnable steps for the prevention and detection of fraud and oth¢r irregularities. Small Company Provisfjons This repon h&g been prepar taking advantage of the small companies, exemption of section 415A of the Companies Act 2006. This report was approved and authorised for issue by th¢ Trustees on 5 September 2023 and signed below on its behalf by Mr Thoma5 Howard Mcconnell Trustee and Company Secretary Page 3
CHURCHES IN CO-OPERATION Company limited by guarantee Independent Examiners Report for the year ended 31 March 2023 Independent Examiners Report to the Trustees of CHURCHES IN CO-OPERA TION I retM)rt to the charAty trnstees on my examination of the financial statements of the Company for the year ended 31 March 2023, which compribe the stalement of fjnancial activities. the income and expendilure account, the statement of financial position, the statement of cash flows and the related notes. Respective responsibilitie5 of Trustees and Examiner A.s the charity's trustees (and also the direclor.g of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Acl 2006. Having satisfied myself that the charlty is not subject to audit under company law. and is eligible for independent examination, it is my responsibility lo: - examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. - follow the procedures laid down in the general DiT¢ctions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charitics Act. and state whether particular matters have come to my attenlion. Basis of Independent Examiner's Report I have examined your charity 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. The examination includes a review of the accounting records kept by the charity 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 charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That OUting record.8 were not kept in accordance with s¢ction 386 of the Companies Aci 2006 2. That the KCountS do not accord with those accounting records 3. That the acLounts do not comply with the accounting requirements of section 396 of the Companies Act 26 and with the methods and principles of the Charitie5 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 4. That there is further inforniation needed for a proper understanding of the accounts to be Teached. Page 4
CHURCHES IN CI>OPERATION Company Ilmlted by guarantee Independent Examiners Report for the year ended 31 March 2023 Independent Examiners Report to the Thistees of CHURCHES IN CO-OPERATION Independent Examiner's Statement I have completed my examination and have no concerns in respect of the matters (l ) to (4) listed above and, in connection with following the Directions of the Charity Conunission for Northern Ireland, I have found no matters that require drawing to your attention. Kevln .ull¢>ugh FCA McDald Mecullough Moore Chartered Aceountants 28132 Clarendon Street Derry BT48 7HD N. Ireland Date: 5 September 2023 Page 5
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CHURCHES IN CO-OPERATION Company limited by guarantee Company No. N1031518 Statement of Financial Position as at 31 March 2023 2023 2022 Notes Fixed assets Tangible assets 199,262 98,137 Current assets Debtors Cash at bank and in hand io 77 8,526 5,825 3,720 8.603 9.545 Creditors: amounts falling due within one year 11 (20,728) (20,678) Net current liabilities (12,125) (11,133) Total assets less current liabilities 187,137 87,004 Net aSets 187,137 87,004 Funds Revaluation reserve Restricted funds UDrestrict¢d funds 108,0(X) 9,399 69,738 12,938 74,066 Totsl eharlty funds 12 187,137 87,11114 For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Comp<mies Act 2006 relating io smdll companies. Directors, SpOnsIbl]itIes. the members have not required the charity to obtain an audit of its financial statements for the year in question in accordancc with section 476. the direLtors acknowledge their responsibilities for complying with the requirements of the Act with rcspect to accounting rccords and the preparation of financial staternents. These accounts have bc¢n pr¢par¢d in accordancc with the provisions applicable to companies subject to the small companies, regime. The financial statements were approved and authorised for is.que by the Board of Dirextors on 5 September 2023 and signed below on its behalf by Mr George Walker Director Mrs Marion Hamilton Director 'riie notes on pages 9 to 17 forn] an Integral part of these financial statements. Page 7
CHURCHES IN CO-OPERATION Company limiled by guarantee Statement of Cash Flows for the year ended 31 March 2023 2023 2022 Notes Cash flows from operating activitie5 Net cash flows generated byl(used in) operating activities (7,867) {2,234) Adjuslmenlsfor.. Depreciation 4,506 3.548 Changes in.. Trade and other debtors Trade and other creditors 10 11 5,748 50 1.114 Net cash Inflowl(outtlow) from operating actfivlties 2,437 2,428 Cash tlows from Investlng actAvlties Purchase of tangible fixed assets 2,369 836 Net cash flows (used in) finvesting actlvlties 2,369 836 Net increaselldecrease) In cash and cash equivalents 4,806 3,264 Net Ancreasel{decrease) In cash and cash equlvalents Cash and cash equivalents at beginning of year 4,806 3,721 3,264 457 Cash and cash equlvalents at end of year 8,527 3,721 Page 8
CHURCHLS IN CO-OPERATION Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 Accountlng pollcles 1.1. Accounting Convention and basis of preparation The charity constitutes a public benefit entity as defjned by FRS 102. Churches in Co-operation is a privafr company limited by guarantee, r¢gis*red in Northern Ireland. The address of the registered office is 22 Bishop Street, Derry, BT48 6PP. These financial statements have been prepared under the historical cost convention, in accordance with Accounting and Reporting by Charities . Statement of Recommended Practice applicable to charities preping their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) - (Charities SORP (FRS 102)), The Financial ReportAng Standard applicable in the UK and Republic of Ireland (FRS 102). the Charities Act N12008 and thc Companies Act 2006, The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consislently applied to all years presented unless otherwise stated. 12. Going concern The financial statements have been prepared on the going concern basis as the directors lieve that no material uncertainty exists. They hav¢ considered the level of funds held and the expected level of income and expenditure for twelve months from the date of authorising these financial staiements and have a reasonable expectation that there are adequat¢ resources in place to continue in operalional existence for the foreseeable future. The main factors underlying this judgement ar¢ mainiaining the Current level of reDtal incom¢, th¢ continuing support of funders and expected revenues from other sources. Page 9
CHURCHES IN CO-OPERATION Company limited by guarantee Notes to the financial slatements for the year ended 31 March 2023 . continued 1.3. Fund Accountlng The funds of the Chitable company consist of restricted funds and unrestricted funds. General funds are unrestricted funds which are available for use at the discretion of the directors in furtherance of the general objectives of the charity and have noi b¢en designated for olher purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. IA. Income Income is included in the Statement of Financial Activities when thc charity is entitled to the income, any p¢rforn]ance conditions attached to the item of incom¢ have been met, it is probable that the income will be received and the amount can be measured reliability. Incoming resources represents restrictsd income from the Department for Communities Northern Ireland (administered by Co-operation Ireland) and Derry City and Strabane District Council Community Support Fund, and unrestricted funding from Derry City and Strabane DistrACt Council Community Centre Venue Fund and rental income, training and donations. The following 5cifiC policies are applied to particular categories of income: {1) Income from Charitsble Activlties Incoming resources from grants, where related to perforniance and specific deliverables, are accountrd for as the charily ¢arn5 the right to consideration by its perfomiance. Grants, where entitlement is not Conditional on the delivery of a specific perforniance are recognised when thc charity becomes unconditionally entitled to the grant, (li) Income from Generated Funds Voluntary income is received by way of fund raising aclivilies, training, donations and small grants and is included in full in the Statement of Financial Activities when receivable. (iii) Other Incoming Resources This includes all other income during the year and is included in th¢ Statement of Financial Activities when receivable. (iv) Capltal Grants Capital Grants are recognised in the year of receipt in the Statement of Financial Activities and are treated as restricted funds with the related depreciation of the assets charged against the same fund. Page 10
CHURCHES IN CO-OPERATION Company limited by guarantee Notes to the flnancial ststements for the year ended 31 March 2023 . continued 1.5. Expenditure ExpendiNre is recognised on an accruals basis as a liability is incurred. Expenditure is included in the financial slatemenls inclusive of value added tax which cannot be recovered and is reported as part of the expenditure to which it relatcs. Resour¢¢s expended are split between restricted and unrestiicted expenses. Unrestricted expenses relate to the management and generdl administration of the charity. Restricted expenses'are as set out in the letters of offer, Charitable activities expenditure cornprises those costs inCued by the charity in the deliverance of its charilable activities, It includes the support costs necessary io provide the charitable services and activities. Support costs are those costs incurred directly in support of expenditure on the objects of th¢ ch1¢Y and include governance costs, general management and administration costs, and deprecAation. Overhead support costs are apportioned on a project basis. 1.6. Tangible fixed assets and depreciation Tangible fixed assets are stat¢d at cost less accumulated depreciation and any provision for impajrnnt. Cost includcd costs directly attsibutable to making the asset capable of operating as intendcd. Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over ils expecfrd useful lifc, as follows: Land and buildings Computer equipment Fixtures, fittings and equipment Straighi line over fjfty y¢ars 33.33I0 Straight line IO% Straight Line The carrying values of tangible assets are reviewed for impaiment when events or changes in circumstan¢¢s indicale the canying value may not be recoverable. 1.7. Debtors and creditors receivablelpayable wlthln one year Debtors and prepayments are recognised at the settlement amount due after any trade discount. Creditors are recognised where the charity has a present obligation resulting from a past event that will result in a payment to a third party and the amount can be reliably estimated. 1.8. Financial instruments A financial asset or liability 15 recognised only when the company becomes a party to the contractual provisions of the arrangement. Page 11
CHURCHES IN CO-OPERATION Company limited by guarantee Notes to the financial slatements for the year ended 31 March 2023 . conlinued 1.9 Judgements and key sources of estimation uncertainity In the application of the company's accounting policies thc tnistees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimate5, The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which Ihe estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Useful cc()ii()iiiic lile diid C&1 in jl)le fixed assets The depreciation charge in Tetr>pect of tangible tix¢d asscts is based on an estimate of the useful economic life of each asset. Revision of useful economic life will affect the estimates charged in the Siatemenl of Financial Activities. Analysls of Income from Charitable Activltles Unrestricted Restricted 2023 Revenue Revenue funds funds 2022 Total Total Revenue grant income DFCICo-operation Ireland Small Equipment Granl DFCILCDI - Volunteering Small Grant Derry Ciiy & Strabane District Council Community Centre Venue Fund Derry City and Strabane District Council Communiiy Support Fund 3,761 7,5(X) 4,000 4,000 Generated income Rent Receivable Other Income 3,776 3,776 3,734 3,776 4,000 7,776 18,995 Page 12
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CHURCHES IN CO-OPERATION Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 , continued Analysis of Support Costs 2023 2022 Insurance Administration Charge Gifts and Donations Accountancy Fees (Governance Costs) Bank Charges General Expenses Depreciation 608 2,195 80 758 21 3,466 128 630 345 8,154 8,114.S 11,7117 13,400 Allocation of support costs to projects 2023 2022 Volunteering Training- DEA Moor Support of Community Sector 5,542 5,325 3,484 9.916 10,867 13.400 Net incomingl(outgoing) resourees for the year 2023 2022 Net incomingl(ouigoing) resources aT¢ Stated after charging: Depreciation and other amounls written off tangible assets 8,045 8,154 Independent Examination Fees 2023 2022 Fee5 payable to the independent examiner for.. Indepcndcnt examination of ihc financial statemcnts. 758 630 Dfjrectors, remunerati(Dn The Directors were not remunerated for their services during the year ended 31 March 2023 (2022 - £NIL) nor did they receive any payments in respect of expenses (2022 - £NIL}. Tax on deficit on ordinary activities No charge to corporation tax arises in the year ended 31 March 2023 (2022: £NIL). Churches in Co-operation is a registered charity for tax puOses, as a result no coryoration tax liability arises. Page 14
CHURCHES IN CO-OPERATION Company Ilmited by guarantee Notes to the finanelol ststements for the year ended 31 March 2023 . contlllued Land and Fixtures, buildings fittings and Computer freehold equlpment equipment Tangible fixed assets Total Cost or valuation At l April 2022 Additions R¢valuation 150,IXX) 23,934 1,170 11,279 185,213 1,170 42,CKKI 42,000 At 31 March 2023 192,0(X) 25,104 11,279 228,383 Depreciation At l April 2022 Revaluation Charge for the year At 31 March 2023 66,000 (66,000) 3.840 12,198 8,878 87,076 {66,000) 8,045 2,510 1,695 3,840 14,708 10,573 29,121 Net book values At 31 March 2023 188,If)O 10,396 706 199.262 At 31 March 2022 84.111111 11,736 2.401 98.137 10. Debtors 2023 2022 Other debtors Prepayments .S.7.$11 75 77 77 11. Creditors: amounts falllng due wlthln one year 2023 2022 Other Creditors Accruals 20,078 650 20.078 20,728 20,678 Page 15
CHURCHES IN CO-OPERATION Company limfited by guarantee Notes to the financial statements for the year ended 31 March 2023 . continued 12. Analysis of net assets between funds for the charltable company Unrestricted Restricted Restricted Revenue Revenue Capital Funds Funds Funds Total 2023 Fund balances at 31 March 2023 Fixed assets Current assets Cuent liabilities 189,863 14,()0.3 121),7281 9,399 199.262 8,603 (21).7211} 177.7.18 187,137 13. Unrestricted funds Incoming Outgoing resources resources 2022 2023 Unrestricted funds 74,066 3,776 8,104 69,738 Purpose of unrestricted funds Unrestric*d funds are funds that are utilised at the discretion of the Directors in furtherance of the objectives of the charitable company. Page 16
CHURCHES IN CO-OPERATION Company Ilmited by guarantee Notes to the financlal statements for the year ended 31 March 2023 . conlinued 14. Restricted funds Incoming Outgoing resources resources 2022 2023 Restricted Revenue Funds DCSDC Community Support Fund (4,000) RestrictLd C: itul Tr ui)d?i DFC Small Capitdl Grant Co-operation Ireland - Covid Recovery Fund All Churches Churches Voluntary Work Bureau Donations 11,830 576 (3,201) (72) 8.629 504 i(K) (50) (200) (16) 50 200 16 32 12,938 (3,539) 9,399 Purpose of restricted funds The grant received from Derry Ciiy and Strabane Distrlct Council Community Support Fund related to funding received to support building Community capacity and was utilised towards the cost of recruiting, supporting and training volunteers. This grant was fully utilised in the year. 15. Company limited by guarantee The charitable company is Limited by Guarantee and does not have a Sh#Te Capital. Every member of the charitable company undertakeb to contribute to the as8CtsAiabiliti¢s of the charitable cotnpany in the evenl of ihe same being wound up while helshe is a member. or within one ycar after hclshe ceases to be a mcmbcr. for payments of thc debts and liabilitics of the chaTitablc company contracted before helshe ceases to be a member, and of the cost5, charges and expense8 of winding up and for ihe adjustment of the rights of the contrlbulories amongsL themselves, such amounl as may be required, not exceeding one pound. 16. Controlling interest The Directors are collectively consider¢d to b¢ thc wntrolling party of the charitable company. Page 17