Company registration number N1612678 (Northern Ireland) NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED COMPANY INFORMATION Directors Mr T Penman Mrs N McFarlane Ms E Bell Rev C McAfee Mrs D Pierce Rev S Robinson Company number N1612678 Reglstored office 218 York Street Betfast Co Antrim BT15 1GY Accountants Neeson Chambers Limtted 123-125 Main Street Bangor Co. Down BT20 4AE NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED CONTENTS Page Directors, report Accountants. report Independent Examinerfs report Income and Expenditure account Balance sheet Notes to the financial statements Detailed Income and Expenditure account Appendix 1 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED DIRECTORS. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 The directors present their annual report and financial statements for the year ended 30 September 2022. Dlrectors The directors who held office during the year and up to the date of signature of the financial statements were as follows.. Mr T Penman Mrs N McFarlane Ms E Bell Rev C MGAfee Mrs D Pierce Rev S Robinson Directors. Responslbllltles The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generalty Accepted Accounting Praclice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of Ihe company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistentty., make judgements and accounting estimates thal are reasonable and Pfudent. prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company'5 transactions and disclose wtth reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statemenls comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small companies exempllon This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. On behalf of the board Mr T Penman Director Date.. NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED CHARTERED ACCOUNTANTS. REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2022 In order to assist you to fvlfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nazarene Compassionate Ministries (Nl) Limited for the year ended 30 September 2022 which comprise the profit and loss account. the balan￿ sheet and the related notss from the company's accounting records and from infomation and explanations you have given us. Our work has been undertaken sol8￿ to prepare for your approval the financial statements of Nazarene Compassionate Ministries (Nl) Limited and state those matters that we have agreed to state to the Board of Directors of Nazarene Compassionate Ministries (Nl) Limited. as a body. in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than Nazarene Compassionate Ministries (Nl) Limited and its Board of Directors as a body, for our work or for this reporL It is your duty to ensure that Nazarene Compassionate Ministries (Nl) Limited has kept adequate accounting records and to prepare statutory financial statements that give a Irue and fair view of the assets, liabilities, financial position and loss of Nazarene Compassionate Ministries (Nl) Limited. You consider that Nazarene Compassionate Ministries (Nl) Limited is exempt from the statutory audit requirement for the year. Scope of work As a firm regulated by Chartered Accountants Ireland our work will be carried out in accordance with the Miscellaneous Technical Statement No.41 Chartered Accountants, Reports on the Compilafyon of Financial statements of Incorporated Entities and ISRS 4410 Intemational Standany on Related Services Compilation Engagements. In carying out this engagement we have complied with the ethical guidance laid down by the Inslituts relating to members undertaking the compilation of financial ststements. We have not been instructed to carry out an audit or a review of the financial statements of Nazarene Compassionate Ministries (Nl) Limited. For this reason. we have not verified the accuracy or completeness of the accounting records or information and explanalions you have given to us and we do not. the￿fOre. express any opinion on the statutory financial statements. Neeson Chambers Llmited Chartered Accountants 123-125 Main Street Bangor Co. Down BT20 4AE Date: 12 JUN 2023 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED INDEPENDENT EXAMINERS REPORT I report on the accounts of Nazarène Commissionate Ministrles (N.1.) Limited for the year ended 30 September 2022. Respective responslllbltlos of charity trustess and examlnor As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is my responsibility to: examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Commission under section 65(91(b) of the Charities Act state whether particular matters have come to my attention. Basis of independent èxaminerfs report I have examined your charity account5 as required under section 65 of the Charities Act and my examination was carried out in accordancce with the general directions given by the Chairty Commission for Northern Ireland under section 65(9)(b) of the Charilies Ad. My examination included a review of the accounting records kepl by the charity and a comparision of the accounts presented with those records. St also inlcuded consideration of any unusal items or disclosures in the accounts, and seeking explanations from you as charity trustess conceming any such matters. My role is to state whether any material matters have come to my attention giveing me cause to believe: 1. That accounting records were not kept in accordance with section 63 of the Charilies Act. 2. That the accounts do not a￿ord with those accounting records. 3. That the accounts do not comply wtlh the accounting requirements of the Charities Act. 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examlnetrs statement I have completed my examination and have no concems in respect of matters (1) to {4) listed above and. in connection with frjllowing the directions of the Charity Commission for Northem Ireland. I have found no matters that require drawlng to your attention other than the matter referred to in note 4 of the accounts. Mr Mlchael Chambers FCA Neeson Chambers Ltd 123-125 Maln Street Bangor Co Down BT20 4AE Date: 12 JUN 2023 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2021 Turnover Administrative expenses Other operating income 45,050 (48.910) 500 37,846 (46,187) Operating deficit (3,360) (8.341) Interest receivable and similar income 12 31 Deflclt for the year (3,348) (8,310) The profit and loss account has been prepared on thè basis that all operations are continuing operations. NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED BALANCE SHEET AS AT 30 SEPTEMBER 2022 2022 2021 Notes Fixed assets Tangible assets 1.400,554 1,400,739 Current assets Debtors Cash at bank and in hand 5.632 33,558 7,022 38,806 39,190 45.828 Credltors: amounts falllng due ￿thIn one year (1,877) (5.706) Net current assets 37.313 40.122 Net assets 1.437,867 1.440.861 Capltal and reserves Called up share capital Other reserves Profrt and loss reserves 805.920 631.947 805,920 634.941 Total equity 1.437,867 1,440.861 For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the CompaniesAct 2006 relating to small companies. The directors acknowledge their responsibilities for comptying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the board of directors and authorised for issue on . are signed on its behalf by: and 12 JUN 2023 MrT Penman Director Company Registration No. N1612878 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accounting pollcles Company Infomiatlon Nazarene Compassionate Ministries (Nl) Limited is a private company limited by guarantee incorporaled in Northem Ireland. The registered office is 218 York Street, Belfast, Co Antrim. BT15 1 GY. 1.1 Accountlng conventlon These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting standard applicable in the UK and Republlc of Ireland. (°FRS 102.1 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of seclion 1A of FRS 102 have been applied other than where additional disclosur8 is required to show a true and fair view. The financial statements are prepared in sterling. which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modrfied to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Tumovor Turnover is recognised at the fair value of the consideration received or receivable for goods and sepiices provided in the nomial course of business. and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 1.3 Tangible fjxed a55ets Tangible f￿ed assets are initialty measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases- Leasehold land and buildings Fixlures and fittings 00 25% reducing balance The gain or loss arising on the disposal of an asset is detemiined as the differenc8 beiween the sale proceed5 and the carrying value of the asset, and is credited or charged to profrt or loss. 1.4 Impalnnent of fixed assets At each reporting period end date. the company reviews the carrying amounts of Ms tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset 15 estimated in order to detsTmine the extent of the impairment loss (rf any). Where it is not possible to eslimate the recoverable amount of an individual asset, th8 company estimates the recoverable amount of the cash-generating unit to which th8 asset belongs. 1.5 Cash and cash equlvalents Cash and Cash equivalent5 are basic financial asset5 and include cash in hand. deposits held at call with banks. other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Accountlng pollcles {Continued) 1.6 Financial instruments The company has elected to apply the provisions of Sedion 11 'Basic Financial Instruments, and Section 12 'other Financlal Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presentsd in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic Ilnancial assets Basic financial assets. which indude debtors and cash and bank balances, are inttialty measured at transadion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors. bank loans. loans from fellow group cornpanies and preference shares that are classified as debt. are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequenlty carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payfflent is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effedive interest method. 1.7 Employee benefrts The cosls of short-temi employee benefits are recognised as a liability and an expense, unless those costs arè required to be recognised as part of the cost of stock or fixed assets. Employees The average monthly number of persons (induding directors) employed by the company during the year was: 2022 Number 2021 Number NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Employees (Continued) Their aggregate remuneratlon comprised: 2022 2021 Wages and salari6s 18,018 16.400 Tanglble flxed assets Land and Plant and buildings machinery etc Total Cost At 1 October 2021 and 30 September 2022 1.400,000 8,305 1.408.305 Depreclatlon and Impaimient At 1 October 2021 Depreciation charged in the year 7.566 185 7,566 185 At 30 September 2022 7,751 7.751 Carrying amount At 30 September 2022 1,400,000 554 1.400,554 At 30 September 2021 1,400,000 739 1,400,739 Debtors 2022 2021 Amounts falllng due within one year: Trade debtors Extraordinary iiem Prepayments 771 3.654 1,207 2,253 3.654 1,115 5,632 7,022 The extraordinary item above relates to a fraudulent payment made. Thls has been recovered post year end. Creditors: amounts falllng due within ono year 2022 2021 Other creditors 1.877 5,706 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Company limited by guarantee The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company. in the event of a winding up. such an amount as may be required not exceeding £1. Appendlx 1 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2021 Turnover Rent 45.050 37.846 Other operdting income Sundry income 500 Administratlve expenses Wages and salaries Rates Security costs Cleaning Power. light and heat Property repairs and maintenance 18.018 1.124 408 1.589 18,886 1,539 16,400 978 708 959 10.248 5,425 F I I Premises insurance Equipment repairs Printing and stationery Telecommunications Sundry expenses Depreciation 2,269 2,989 53 1,595 255 185 2.375 6.759 389 1.525 174 247 (48.910) (46,187) Operating deficit (3.360) (8,341) Interest recelvable and slmilar income Bank interest received 12 31 12 31 Deficit for the year 7.43% (3.348) 21.96Q/o (8.310)