CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unr•strlcEed Unrestritted funds fund5 2023 2022 Notss In¢ome from: Donations and legacles Charitable activities Investments 6,241 6.477 62 Tt)tal income 6,250 6,$45 enditufe on: Charitable activitie5 5A07 4,848 Net Incom• for the year/ Net mov•m¢nt In funds 1,697 Fund balances at 1 April 2022 9,570 7,873 Fund balances at 31 March 2023 10,413 9,570 The ststement of financial activities indudes all gains and losses recognlsed In the year. All Income and expenditure derlve from continulng activltles. The statement of financial activities also complies with the requirements for an income Jnd expenditure account under the Companies Act 2IJo6.
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED BALANCE SHEEr ASA T31 MARCH2023 2023 2022 Notes Fixed assets Tangible assets Current assets Stocks Debtors Cash at bank and in hand 11 183 302 12 13 11x1 1,159 9.511 100 1,163 8,545 10,770 Crodftors: amounts falllng du• wlthln on• y•ar 14 (540) (540) Net current assets 10,230 9,268 Total •5s•ts1•$5 curr•nt Ilabllltl 10,413 9,570 Income funds Unrestricted funds 10,413 9,570 10A13 9,570
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED BALANCE SHEET (CONTINUED) ASAf31 MARCH 2023 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023. The directors acknowledge their responsibillties for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial ststements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resource5 and applicatlon of resources, including its income and expendlture, for the financial year In accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial staternents. so far as applicable to the company. The members have not required the compary to obtain an audit of its financial statements for the ar in question in accordance with section 476. These financial statements have been prepared in accordance wlth the provlsions applicable to comFAnles subject to the small companies reglme. The financial statements were approved by the Trustees on ....................,.... Drj Ky Trustee Company Reglstration No. N137038 10-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR fHE YEAR ENDED 31 MARCH 2023 Accounting pollcles Charity Inforniatlon Contemporary Christianity (Northem Ireland) Limited is a private company limited by guarantee incorporated in Northem Ireland. The registered office is 48 Elmw¢)od Avenue. Belfas¢ Co. Antrim. BT9 6AL Northem Ireland. 1.1 A¢¢otsntlng conventlon The accounts hwe been prepared in accordance with the charitys governlng documen¢ the Companies Act 2006 and "Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparfng their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021" (as amended for accounting periods commencing from l January 2019). The charity 15 a Public Benefit Entlty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charitles applylng FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flow The financial ststements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expedatlon that the charity has adequate resources to continue in operational existen for the foreseeable fvture. Thus the trustees continue to adopt the going concern basis of accountin9 in preparing the financial statements, 1.3 Charltablè funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to Specific conditions by donors as to how they may be used. The purp)ses and uses of the restricted funds are set out in the notes to the financial statements. Endowment furmls are subject to Specific condition5 by donor5 that the capital must be maintained by the harity. 1.4 Incoming resources Income 15 recognised when the charity is legally entitled to it after any performance conditions hwe been met the amount5 can be measured reliably, and it 15 probable that income will be received. Cash donations are recognised on receipt. Other donations are recogni5ed once the charity has been notified of the donation, unle55 performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant 15 recognised at the time of the donation. 11
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles (Continued) Tumover is measured at the fair value of the consideration received or receivable and represents amounts receNable for goods and seiceS provided in the normal course of business, net of discounts, VAT and other sales lated tsxes. 1.5 Resources expended Expenditure is recognised once there is a legal or constwctive obligation to make a payment to 3 third paty, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classifled under the following activity heading.. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and seNices for its bèneficiaries. It includes both costs that can be allocated directly to such artivities and those costs of an indirect nature necessary to support them. IrCoVerable VAT is charged as a cost against the activlty for which the expenditure was incurred, 1.6 Intanglble fixed assets other than goodwill Intangible assets acqulred separately from a business are recognised at cost and are subsequently measured at cost less accumulated amorti5atlon and accumulated impairment losse Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where It 15 probable that the expected fijture economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliabty,. the intangible asset arises from contractual or other legal right% and the Intangible asset Is separable from the entity. Amortisation Is recognised so as to write off the cost or valuation of assets less their residual values over thelr useful lives on the following bases: Software 20% Straight Llne 1.7 Tanglble fixed assets Tangible fixed aet5 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient 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 base Fixtures and fitting5 Computers 20% Straight Line 20% Straight Line The galn or loss arising on the disposal of an asset is determlned as the difference been the sale proceeds and the caryin9 value of the asset and is recognised in net income/{expenditure) for the year. 12-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcles (Continued) 1.8 Impalrment of fixed assets At each reporting end date, the charity reviews the canying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment los& If any such indication exists, the recoverable amount of the asset is estimated in Order to determine the e<tent of the impairment1055 (if any). 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. C05t comprises direct materi315 and, where applicable, direct labour costs and those ovetheads that have been Incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cosL Net reali5able value is the estimated selllng price less all estimated costs of completion and costs to be incurred in marketingt selling and distribution. 1.10 Gish and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call viith banks. other short-tem liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts we shown within borrowings in cuffent liabilities. 1.11 Flnanclal instruments The charity 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 instrumen Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and Ilabllltles are offset, with the net amounts 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 simultsneously. Bask ffnandal assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaclion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute5 a financin9 transaction, vthere the transaction is measured at the present value of the future receipts discounted at a market rate of ritere5t. Financial assets classified as receivable within one year are not amorti5ed. 13-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcies {Continued) Bask financial liabilities Basic financial liabilities including creditors and bank loans are initially recognised at transaction 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 interesL Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cosL uslry the effective interest rate method. Trade creditors are obligatlons to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as cUrnt liabilities it payTnent is due within one year or less. If noL they are presented as non-current liabilities. Trade creditors are recognised Initially at transaction price and subsequently measured at amortised cost using the effective inteRst method. Dereeognition of financlal Ilabllltles Financial liabilities are derecognised when the Charis contractual obligations expire or are discharged or cancelled. Critical aOUntIng estimjtss and Judgements In the application of the charlty's accounting policles, the trustees are required to make judgem&)ts, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates ar)d associated assumptions are based on historical experience and other factors that are considered to be relevant Actual results may differ from these estimate& The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognSsed in the period in which the estimate Is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlons and legacles 2023 2022 Donations and gifts Trusts 5,881 360 6,117 360 6,241 6,477 14-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 MARCH 2023 Charftabl• Jcllvltles Unrestricted Income 2022 sales within charitable activities 62 Investments Unr•strlct•d Unrestrirted funds funds 2023 2022 Interest recelvable Charftable actlvftlej Unr•strfcted Unrestrlcted Fund Fund 2023 2022 Depreciation and impairment Resources Opening Stock Closing Stock Subscriptions 119 1,160 100 (1001 229 119 100 120 (100) 85 1,508 324 Share of support costs (see note 71 Share of govemance costs (see note 7) 3,699 825 653 5.407 4,848 15-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs 2023 2022 Ba9 of allocatlon Rent Insurance Bank Intsrest & Charges Printing, Postage, Photocopying & Ststlonery Sundry Expenses 1,320 294 1.320 294 1,320 294 38 1,588 1,588 2,034 13 Independènt Examinatlon Fees Legal and professional Governance 540 113 540 285 Governance 113 3,246 653 3,899 4,524 Analysed between Charitsble artivities 3,246 653 3,899 4.524 Govemance costs Includes payments to the independent examiners of £540 12022- £5401 for accountsncy fees. Truste•s None of the trustees (or any persons connected wlth them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was: 2023 Number 2022 Number Totsl 16-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Intsngiblè fixed assets Software Cost At 1 April 2022 and 31 March 2023 Amortlsatlon and Impalrnient At 1 April 2022 and 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 11 Tarylbl• fix•d assets cpu11 Cost At 1 Aprll 2022 593 At 31 March 2023 593 Depreclatlon and impilrment At l April 2022 Depreciation charged in the year 291 119 At 31 March 2023 410 Carrylng amount At 31 March 2023 183 At 31 March 2022 302 12 Stocks 2023 2022 Finished goods and goods for Sale 100 17-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 MARCH 2023 13 Dèbtors 2023 2022 Amounts falling due wlthln one year. Other debtors Prepayments and accrued income 990 169 990 173 1,1S9 1,163 14 Credltors: amounts falllng due wlthln one year 2023 2022 Accruals and deferred incom? $40 540 15 Analysls of net assets betw•en fvnds Unrestrlcted Unrestricted fund fvnd 2023 2022 Fund balances at 31 March 2023 are represented ty. Tangible assets Current assets/lliabilitles) 183 10,230 302 9,268 10,413 9,S70 16 Relaled party trans4ctlons There were no di5closable related party tran5action5 during the year {2022 - none). 18-