2025-03-31-accounts

Registered Charity No. NIC100221 Company number NI031518

CHURCHES IN CO-OPERATION Company limited by guarantee

Trustees' Report and Financial Statements

for the year ended 31 March 2025

CHURCHES IN CO-OPERATION Company limited by guarantee

Directors' Report and Financial Statements for the year ended 31 March 2025

	Contents
		Page
Trustees' Report		1 - 3
Independent Examiner's Report		4 - 5
Statement of Financial Activities		6
Statement of Financial Position		7
Statement of Cash Flows		8
Notes to the Financial Statements		9 - 17

CHURCHES IN CO-OPERATION Company limited by guarantee

Legal & administrative information

Directors	Mr Thomas Howard McConnell	Resigned 24th October 2024
	Mrs Marion Hamilton
	Rev Philip Boyd Houston	Chairperson
	Mrs Dawn Cairns
	Mr Peter Columba Boucher
	Mr George Walker
	Mr Thomas James Daly
	Mrs Mairead Grant
	Rev Craig Munro Wilson
	Rev John Nigel Cairns
	Mrs Charlotte Maye
	Rev Michael Francis McCaughey
	Mr Robert Andrew White	Appointed 24th October 2024
Secretary	Rev John Nigel Cairns
Company number	NI031518
Charity number	NIC100221
Registered office	22 Bishop Street
	Derry
	BT48 6PP
Accountants	McDaid McCullough Moore
	28/32 Clarendon Street
	Derry
	BT48 7HD
Business address	22 Bishop Street
	Derry
	BT48 6PP
Bankers	Ulster Bank Limited
	Da Vinci Complex
	Culmore Road
	Derry
	BT48 8JB

CHURCHES IN CO-OPERATION Company limited by guarantee

Trustees' report for the year ended 31 March 2025

The trustees, who are also the directors of the charity for the purposes of the Companies Act 2006, present their report and the financial statements of Churches in Co-operation for the year ended 31 March 2025. The directors who served during the year and up to the date of this report are set out on the Legal & Administrative page. This report is prepared in accordance with Accounting and Reporting By Charities : Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, Governance and Management

Governing Document

Churches in Co-operation is a charitable company, (company number NI031518), limited by guarantee (with no share 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 registration of Churches in Co-operation with the Charities Commission of Northern Ireland was completed on 29 July 2014. The company's Northern Ireland Charity Number is NIC100221.

Organisational Structure

Churches in Co-operation was set up by the 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 to social and economic renewal across all communities. The Trustees meet regularly to review performance, determine strategies, assess risk and plan future policies.

Churches in Co-operation is managed daily by Jacqueline Garnon, the Centre manager, who is employed by The Churches' Voluntary Work Bureau. The Centre Manager is responsible for the provision of administrative and clerical duties and for reporting to the Board of Directors.

Appointment and training of Trustees

New trustees (directors) are nominated by current trustees (directors). The induction and training of new trustees is provided by existing trustees and by the Centre Manager. Most trustees, due to their experience and backgrounds, are already familiar with the work of Churches in Co-operation.

Risk Management, Governance and Internal Control

Management have conducted its own review of the major risks to which Churches in Co-operation is exposed 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 so that the company may continue to support community development.

Internal risks are minimised by the implementation of controls and procedures for authorisation of all transactions.

Objectives and Activities (and how they deliver public benefit)

Charitable Objects

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.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Trustees' report for the year ended 31 March 2025

.................... 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 objective 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 advance education and training and provide meeting space facilities and support which are accessible to the community, and to promote such other charitable purposes as may from time to time be determined.

Achievements and Performance

The results for the year are set out on pages 6 - 7. During the year, Churches in Co-operation saw a complete reduction in grant funding but saw a 247% increase in the level of rental income received. The Trustees are satisfied with the results of the company in light of the continued pressure on funders budgets. The Centre Manager deserves great credit for her endeavours over the past year.

Financial Review

Principle funding sources

The principle funding sources of Churches in Co-operation is rental income, which is included in unrestricted income.

Reserves Policy

The Trustees have examined the charity's requirements for reserves taking into account the risks that Churches in Co-operation has recognised. The reserve requirement is estimated to be at least three months of expenditure. Expenditure is currently approximately £15,865, equating to monthly expenditure of approximately £1,322 and quarterly expenditure of £3,966. Unrestricted reserves at 31 March 2025 amount to £71,548 (31 March 2024 - £69,804).

The actual reserves at 31 March 2025 are significantly above the desired level.

Plans for the future

The trustees are satisfied with the performance of Churches in Co-operation during these difficult times. In the future, they expect to continue to receive rental income from the organisations they have developed strong relationships with over the years and to attract further grant funding to enable them to pursue the company's charitable aims.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Trustees' report for the year ended 31 March 2025

.................... continued

Trustees' Responsibilities Statement

The trustees (who are also the directors of the charitable company, for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, 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 charitable company for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities 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 material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small Company Provisions

This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.

This report was approved and authorised for issue by the Trustees on 9 September 2025 and signed below on its behalf by

Rev Philip Boyd Houston Trustee and Chairperson

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CHURCHES IN CO-OPERATION Company limited by guarantee

Independent Examiners Report for the year ended 31 March 2025

Independent Examiners Report to the Trustees of CHURCHES IN CO-OPERATION

I report to the charity trustees on my examination of the financial statements of the Company for the year ended 31 March 2025, which comprise the statement of financial activities, the income and expenditure account, the statement of financial position, the statement of cash flows and the related notes.

Respective responsibilities of Trustees and Examiner

As the charity's trustees (and also the directors 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 Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:

• examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;

• follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and

• state whether particular matters have come to my attention.

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:

1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006

2. That the accounts do not accord with those accounting records

3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland

4. That there is further information needed for a proper understanding of the accounts to be reached.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Independent Examiners Report

for the year ended 31 March 2025

Independent Examiners Report to the Trustees of CHURCHES IN CO-OPERATION

Independent Examiner's Statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Kevin McCullough FCA

McDaid McCullough Moore Chartered Accountants 28/32 Clarendon Street Derry BT48 7HD N. Ireland

Date: 9 September 2025

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CHURCHES IN CO-OPERATION

Company limited by guarantee

STATEMENT OF FINANCIAL ACTIVITIES

(including Income & Expenditure Account) for the year ended 31 March 2025

Unrestricted Restricted Restricted Revenue Revenue Capital funds funds funds Notes £ £ £ Income and endowments from: Donations - - Charitable Activities 2 15,007 1,000 - Total Income 15,007 1,000 - Expenditure on: Charitable activities 3 ) (13,262 ) (1,000 ) (1,603 Total Expenditure ) (13,262 ) (1,000 ) (1,603 Net income/(expenditure) for the year 1,745 - ) (1,603 Reconciliation of funds: Total funds brought forward 13 / 14 69,804 - 6,825 Total funds carried forward 13 / 14 71,549 - 5,222	2025 Unrestricted Restricted Restricted Revenue Revenue Capital Total funds funds funds £ £ £ £ - 5,000 - 16,007 4,314 4,000 - 16,007 9,314 4,000 - ) (15,865 ) (9,248 ) (4,000 ) (2,574 ) (15,865 ) (9,248 ) (4,000 ) (2,574 142 66 - ) (2,574 76,629 69,738 - 9,399 76,771 69,804 - 6,825	2024 Total £ 5,000 8,314 13,314 ) (15,822 ) (15,822 ) (2,508 79,137 76,629

All of the above amounts relate to continuing activities.

There are no recognised gains or losses other than the surplus/(deficit) for the above two financial years.

The notes on pages 9 to 17 form an integral part of these financial statements.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Company No. NI031518

Statement of Financial Position as at 31 March 2025

Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current liabilities Total assets less current liabilities Net assets Funds Revaluation reserve Restricted funds Unrestricted funds Total charity funds 12	2025 £ 29 4,936 4,965 ) (16,642	£ 196,446 ) (11,677 184,769 184,769 108,000 5,221 71,548 184,769	2024 £ 88 3,238 3,326 ) (20,728	£ 202,031 ) (17,402 184,629 184,629 108,000 6,825 69,804 184,629

For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

question in accordance with section 476;

• the directors acknowledge their responsibilities for complying with the requirements of the Act with

respect to accounting records and the preparation of financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Board of Directors on 9 September 2025 and signed below on its behalf by

Rev Philip Boyd Houston Director

Mrs Marion Hamilton Director

The notes on pages 9 to 17 form an integral part of these financial statements.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Statement of Cash Flows for the year ended 31 March 2025

Notes Cash flows from operating activities Net cash flows generated by/(used in) operating activities Adjustments for: Depreciation 9 Changes in: Trade and other debtors 10 Trade and other creditors 11 Net cash inflow/(outflow) from operating activities Cash flows from investing activities Purchase of tangible fixed assets 9 Net cash flows (used in) investing activities Net increase/(decrease) in cash and cash equivalents Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2025 £ ) (859 4,211 59 ) (4,086 ) (675 1,373 1,373 698 698 3,238 3,936	2024 £ ) (2,508 4,682 ) (11 - 2,163 ) (7,451 ) (7,451 ) (5,288 ) (5,288 8,526 3,238

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

1. Accounting policies

1.1. Accounting Convention and basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. Churches in Co-operation is a private company limited by guarantee, registered 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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act NI 2008 and the 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 consistently applied to all years presented unless otherwise stated.

1.2. Going concern

The financial statements have been prepared on the going concern basis as the directors believe that no material uncertainty exists. They have considered the level of funds held and the expected level of income and expenditure for twelve months from the date of authorising these financial statements and have a reasonable expectation that there are adequate resources in place to continue in operational existence for the foreseeable future. The main factors underlying this judgement are maintaining the current level of rental income, the continuing support of funders and expected revenues from other sources.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

1.3. Fund Accounting

The funds of the charitable 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 not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors.

1.4. Income

Income is included in the Statement of Financial Activities when the charity is entitled to the income, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliability. Incoming resources represents restricted 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 District Council Community Centre Venue Fund and rental income, training and donations. The following specific policies are applied to particular categories of income:

(i) Income from Charitable Activities

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Grants, where entitlement is not conditional on the delivery of a specific performance are recognised when the charity becomes unconditionally entitled to the grant.

(ii) Income from Generated Funds

Voluntary income is received by way of fund raising activities, 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 the Statement of Financial Activities when receivable.

(iv) Capital 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.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

1.5. Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure is included in the financial statements inclusive of value added tax which cannot be recovered and is reported as part of the expenditure to which it relates. Resources expended are split between restricted and unrestricted expenses. Unrestricted expenses relate to the management and general administration of the charity. Restricted expenses are as set out in the letters of offer.

Charitable activities expenditure comprises those costs incurred by the charity in the deliverance of its charitable activities. It includes the support costs necessary to provide the charitable services and activities.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include governance costs, general management and administration costs, and depreciation. Overhead support costs are apportioned on a project basis.

1.6. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment. Cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:

Land and buildings	-	Straight line over fifty years
Computer equipment	-	33.33% Straight line
Fixtures, fittings
and equipment	-	10% Straight Line

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

1.7. Debtors and creditors receivable/payable within 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 is recognised only when the company becomes a party to the contractual provisions of the arrangement.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

1.9 Judgements and key sources of estimation uncertainity

In the application of the company's accounting policies the trustees 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 estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates 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 both current and future periods.

Useful economic life and carrying value of tangible fixed assets

The depreciation charge in respect of tangible fixed assets 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 Statement of Financial Activities.

2. Analysis of Income from Charitable Activities

Unrestricted Restricted Revenue Revenue funds funds £ £ Revenue grant income Derry City and Strabane District Council - Community Support Fund - - Generated income Rent Receivable 15,007 - Other Income - 1,000 15,007 1,000	Unrestricted Restricted Revenue Revenue funds funds £ £ Revenue grant income Derry City and Strabane District Council - Community Support Fund - - Generated income Rent Receivable 15,007 - Other Income - 1,000 15,007 1,000	2025 2024 Total Total £ £ - 4,000 15,007 4,314 1,000 - 16,007 8,314	2025 2024 Total Total £ £ - 4,000 15,007 4,314 1,000 - 16,007 8,314
	1,000		8,314

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

3. Costs of charitable activities - by fund

Honourable DCSDC Irish Community Rents Capital Unrestricted 2025 Society Support Fund Receivable Projects Reserves Total £ £ £ £ £ £ Training 1,000 - - - - 1,000 Training Resources - - - - - - Insurance - - - - 524 524 Cleaning Materials - - - - - Postage, Stationery and Promotion - - - - 37 37 Management Charge - - 5,774 - - 5,774 Administration Charge - - 1,892 - - 1,892 Gifts & Donations - - - - 48 48 Professional Fees - - - - - - Accountancy Fees - - - - 756 756 Bank Charges - - - - 20 20 General Expenses - - - - - - Depreciation on Freehold Property - - - - 4,041 4,041 Depreciation on Fixtures and Fittings - - - 1,603 170 1,773 Depreciation on Computer Equipment - - - - - - 1,000 - 7,666 1,603 5,596 15,865

2024 Total £ 3,350 - 676 160 651 - 2,444 90 420 744 31 1 4,041 2,510 705

15,822

£1,000 (2024 - £4,000) of the above costs were attributable to restricted funds and £14,865 (2024 - £11,822) of the above costs were attributable to unrestricted funds.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

4. Analysis of Support Costs Insurance Postage, Stationery & Advertising Administration Charge Management Charge Gifts and Donations Legal and Professional Fees Accountancy Fees (Governance Costs) Bank Charges General Expenses Depreciation Allocation of support costs to projects Provision of Training Volunteering Training - DEA Moor Support of Community Sector 5. Net incoming/(outgoing) resources for the year Net incoming/(outgoing) resources are stated after charging: Depreciation and other amounts written off tangible assets 6. Independent Examination Fees Fees payable to the independent examiner for: Independent examination of the financial statements	2025 £ 524 37 1,892 5,774 48 - 756 20 1 5,814 14,865 2025 £ 2,378 - 12,487 14,865 2025 £ 5,814 2025 £ 756	2024 £ 676 - 2,444 - 90 420 744 31 - 7,256 11,661 2024 £ - 5,947 5,714 11,661 2024 £ 7,256 2024 £ 744

7. Directors' remuneration

The Directors were not remunerated for their services during the year ended 31 March 2025 (2024 - £NIL) nor did they receive any payments in respect of expenses (2024 - £NIL).

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

8. Tax on surplus on ordinary activities

No charge to corporation tax arises in the year ended 31 March 2025 (2024: £NIL). Churches in Co-operation is a registered charity for tax purposes, as a result no corporation tax liability arises.

		Land and	Land and		Fixtures,	Fixtures,
9.	Tangible fixed assets	**buildings **		fittings and			Computer
		freehold			**equipment **		equipment			Total
			£			£		£		£
	Cost/revaluation
	At 1 April 2024		202,025			25,104		11,279		238,408
	Additions		-			230			-	230
	At 31 March 2025		202,025			25,334		11,279		238,638
	Depreciation
	At 1 April 2024		7,881			17,219		11,278		36,378
	Charge for the year		4,041			1,773			-	5,814
	At 31 March 2025		11,922			18,992		11,278		42,192
	Net book values
	At 31 March 2025		190,103			6,342			1	196,446
	At 31 March 2024		194,144			7,885			1	202,031
10.	Debtors							2025		2024
								£		£
	Prepayments							29		88
11.	Creditors: amounts falling due							2025		2024
	within one year							£		£
	Other creditors							15,992		20,078
	Accruals							650		650
								16,642		20,728

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

12. Analysis of net assets between funds for the charitable company

	Unrestricted		Restricted	Restricted
	Revenue		Revenue	Capital		Total
	Funds		Funds	Funds		2025
	£		£	£		£
Fund balances at 31 March 2025
Fixed assets	202,031		-	(5,585	)	196,446
Current assets	3,326		1,639	-		4,965
Current liabilities	(16,642	)	-	-		(16,642	)
	188,715		1,639	5,585		184,769

13. Unrestricted funds

		Incoming	Outgoing
	2024	resources	resources		2025
	£	£	£		£
Unrestricted funds	69,804	15,007	(13,262	)	71,549

Purpose of unrestricted funds

Unrestricted funds are funds that are utilised at the discretion of the Directors in furtherance of the objectives of the charitable company.

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CHURCHES IN CO-OPERATION Company limited by guarantee

Notes to the financial statements for the year ended 31 March 2025

.................... continued

14. Restricted funds

Restricted Revenue Funds Honourable Irish Society Restricted Capital Funds DFC Small Capital Grant Co-operation Ireland - Covid Recovery Fund	Incoming Outgoing 2024 resources resources £ £ £ - 1,000 ) (1,000 - 1,000 ) (1,000 6,393 - ) (1,531 432 - ) (72 6,825 - ) (1,603	2025 £ - -
		4,862 360
		5,222

Purpose of restricted funds

The grant received from Derry City and Strabane District 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 Share Capital.

Every member of the charitable company undertakes to contribute to the assets/liabilities of the charitable company in the event of the same being wound up while he/she is a member, or within one year after he/she ceases to be a member, for payments of the debts and liabilities of the charitable company contracted before he/she ceases to be a member, and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required, not exceeding one pound.

16. Controlling interest

The Directors are collectively considered to be the controlling party of the charitable company.

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