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 c￿OPERATIoN Company lknlted by guarantee Legal & admlntstratlve inforniatlon Dlrectors Rev Colum Clerkin Mrs m￿lon 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 ch￿ltY 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 Ch￿tieS 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 ex￿Sed 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 M￿ch 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 Ch￿ltieS 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 ￿￿OU￿ting record.8 were not kept in accordance with s¢ction 386 of the Companies Aci 2006 2. That the K￿CountS 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 2￿6 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 13J. 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 aS￿ets 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 Comppect 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 ¥D ￿ QO bn r4 C4 KD ooo 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 pu￿Oses, 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 Cu￿ent 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