Company registration number N1612678 (Northem Ireland) Charity number 100498 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 NAZARENE COMPASSIONATE MINISTRIES {NI) LIMITED COMPANY INFORMATION Directors MrT Penrnan Mrs N McFarlane Ms E Bell Rev C McAfee Mrs D Pierce Rev S Robinson Company number N1612678 Charity number 100498 Registered office 218 York Street Belfast Co Antrim BT15 1GY Accountants Neeson Chambers Limited 123-125 Main Street Bangor Co. Down BT20 4AE NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED CONTENTS Page Dirertors, 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 2024 The directors present their annual report and financial statements for the year ended 30 September 2024. Dlrectors The directors who held office during the year and up to the date of signature of the financial ststements were as follows.. MrT Penman Mrs N McFadane Ms E Bell Rev C McAfee Mrs D Pierce Rev S Robinson Directors. Responsibilities 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 ststements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the direclors 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 the company for that period. In preparing these financial statements. the directors are required to: select suitable accounting policies and then apply them consistendy. make judgements and accounting estimates that are reasonable and prudent: prepare the financial statements 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's transactions and disclose wilh reasonable accuracy at any time the financial position of the company and enable them to ensure that Ihe financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other i￿egUlaritieS. Small companies exemption This report has been prepared in accordance with the provisions appllcable to compap.i8S 8ntitl8d 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 2024 In order to assist you to fulfil your dLrties under the Companles Act 2006, we have prepared for your approval the financial statements of Nazarene Compassionate Ministries {Nl) Limited for the year ended 30 September 2024 which comprise the profit and loss account, the balance sheet and the related notes from the company's accounting records and from infomation and explanations you have given us. Our work ha5 been undertaken solely to prepare for your approval the financial staternents 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 pemiitted by law, we do not ac￿pt or assume responsibilty to anyone other than Nazarene Compassionate Ministries (Nl) Limited and its Board of Directors as a body, for our work or for this report. You have acknowledged on the balance sheet for the year ended 30 September 2024 your duty to ensure that the mpany has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. Scope of work We have carried out this engagement in accordance wtth guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the relevant ethical guidance laid down by the Institute relating to members undertaking the compilation of financial slatements. We have not been instructed to carry out an audit of the financial ststements of Nazarene Compassionate Ministries (Nl) Limited. For this reason. we have not verified the accuracy or completeness of the accounting records or inforniation and explanations you have given to us and we do not. therefore. express any opinion on the financial statements. Neeson Chambers Limited Chartered Accountants 123-125 Main Street Bangor Co. Down BT20 4AE Date: NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED INDEPENDENT EXAMINERS REPORT I report on the accounts of Nazarene Commissionate Ministries (N.1.) Limited for the year ended 30 September 2024. Respectfve responslllblties of charlty trustess and examiner As the charity's tTUStees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northem Ireland) 2008. It is my responsibility to: examine the accounts under section 65 of the Charities Act follow the procedurés laid down in the general Directions given by the Commission under section 65(9)(bl of the Charities Act state whether particular matters hav8 come to my attention. Basis of independent examine￿$ report I have examined your charity accounts as required under section 65 of the Charities Act and my examinalion was carried out in accordancce with the general directions given by the Chairty Commission for Northern Ireland under section 65{9)(b) of the Charities Act. My examination induded a review of the accounting records kept by the charity and a comparision of the accounts presented with those records. It also inlcuded consideration of any unusal ilems 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 Ihe Charities Act. 2. That the accounts do not accord with those accounting records. 3. Thal the accounts do not comply with the accounting requirements of the Charities Act. 4. That there is further infonnation needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concems in respect of matters (1) to (4) listed above and, in connection with following the direction5 of the Ci iarity Commission for Northem Ireland, I have found no matters that require drawing to your attention other than the matter referred to in note 4 of the accounts. Mr Michael Chambers FCA Neeson Chambers Ltd 123-125 Main Street Bangor Co Down BT20 4AE Date: NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Turnover Administrative expenses Other operating income 49,822 (53,699) 46,098 (49,154) 900 Operating defictt (3.8771 (2,156) Interest receivable and similar income 270 182 Deficit for the year (3.607) (1.974) The profit and loss account has been prepared on the basis that all operations are continuing operations. NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 1.401.387 1,401.657 Current assets Debtors Cash at bank and in hand 1,483 29,625 2,273 38,704 31,108 40.977 Creditors: amounts falllng due within one year (209) (6.741) Net current assets 30.899 34.236 Net assets 1,432.286 1,435,893 Capltal and reserves Called up share capital Other reserves Profit and loss reseNes 805.920 626.366 805,920 629,973 Total equity 1,432,286 1,435,893 For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its financial ststements for the year in question in accordance with section 476. The directors acknovAedge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial ststements. These financial statements have been prepared in accordance wilh 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 MrT Penman Dlrector Company registration number N1612678 (Northem Ireland) NAZARENE COMPASSIONATE MINISTRIES {NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies Company Inforniation Nazarene Compassionate Ministries (Nll Limited is a private company limited by guarantee incorporated in Northem Ireland. The registered Offi￿ is 218 York Stree( Belfast, Co Antrim. BT15 1GY. 1.1 Accounting convention These ffinancial statements have been prepared in accordance wilh FRS 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. (°FRS 102") and Ihe requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disdosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statemenls 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. [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Turnover Tumover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related tsxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 1.3 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequentty 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 usefvl lives on the following bases: Leasehold land and buildings Fixiures and fittings 250/0 reducing balance The gain or loss arising on the disposal of an asset is detemined as the differen￿ bel￿een the sale prO￿ed5 and Ihe carrying value of the asset. and is crediled or charged to profit or loss. 1A Impairment of fixed assets At each reporling period end date, the company reviews the carying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impaimient 105s. If any such indication exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the irnpaiment loss (rf any). Where it is not possible to eslimate the recoverable amount of an individual asset. the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. 1.5 Cash and cash equivalents Cash and cash equivalents are basic financial assets 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 liabililies. NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies (Contlnued) 1.6 Financlal Instruments The company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial insttuments are recognised in the companvs balance sheet when the company becomes party to the conlractual provisions of Ihe instrument. Financial assets and liabilities are offsel, with the net amounls presented 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 simullaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initialty measured at transaction 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 classified 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 companies and preference shares that are classified as debt. are initially recognised at transaclion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at 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 subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or sprvices that have been acquired in the ordinary course of business from suppliers. Amoun4Q payable are classified as current liabilities if payment is due with'_i one year or less. If not. Ihey are presented as non-current liabilities. Trade creditors are recognised initially at transaction pri￿ and subsequently measured at amortised cost using the effective interest method. 1.7 Employee benefits The costs of short-teryn employ68 benefits are recognised as a liabilty and an expenee, unless those costs are required to be recognised as part of the cost of stock or fixed assels. Employees The average monthly number of persons (including dir8Ctors) employed by the company during the year was: 2024 Number 2023 Number NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Employees (Continued) Their aggregate remuneration comprised: 2024 2023 Wages and salaries 22,557 24,673 Tangible fixed assets Land and Plant and buildings machinery etc Total Cost At 1 October 2023 Additions 1,400,000 9.961 193 1.409,961 193 At 30 September 2024 1,400,000 10.154 1,410,154 Depreciation and impairment At 1 October 2023 Depreciation charged in the year 8.304 463 8,304 463 At 30 September 2024 8,767 8,767 Carrying amount At 30 September 2024 1,400.000 1,387 1.401.387 At 30 September 2023 1.400.000 1,657 1.401,657 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments 56 1,427 970 1,303 1,483 2.273 Creditors: amounts falling due within one year 2024 2023 Other creditors 209 6,741 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Company limited by guarantee The cornpany is limited by guarantee and has no share capltal. 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 ex￿edIng £1. Appendix 1 NAZARENE COMPASSIONATE MINISTRIES (NI) LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 2024 2023 Tumovar Rent 49,822 46,098 Other operatlng Income Sundry income 900 Admlnlstrative expenses Wages and salartes Rates Security costs Cleaning Power. light and heat Propety repairs and maintenance Premises insurance Equipment repairs and maintenan Professional subscriptions Accountancy Printing and stationery Telecommunications Sundry expenses Depreciation 22,557 549 404 966 14.586 4,174 2.606 3.682 60 720 241 1,865 826 463 24,673 (39) 270 694 12,512 1.818 2.404 3.369 1.080 166 1.546 108 553 (53.699) (49.154) Operating deficit (3.877) (2.156) Interest receivable and similar income Bank interest re￿iVed 270 182 270 182 Deficit for the year 7.240 (3,607) 4.28% (1.974)