STATEMENT OF FINANCIAL ACTIVITIES FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Unrestrfctod Unrestrlcted Funds Funds 2024 2023 Note Income from: Donations and Legacies Charitable activities Investments Total Income 4,734 6,241 10 4,744 6,250 Expendltura on: Charitable activities Net Income for the yearlNot movement In funds 1,146 Fund balances brought fotward Total fund8 carrled forward 11.559 10,413 The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing operations. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BALANCE SHEET FOR CONTEMPORARY CHRISTIANITY (NORTHER IRELAND) LIMITED AS AT 31 MARCH 2024 2024 2023 Note Tanglble Assets 11 183 Current assets Stocks Debtors Cash at bank and in hand Net assets 12 13 90 785 10,620 100 1,159 9,511 11.495 10.770 Currnnt Liabllitles Creditors: amounts due within one year Nèt Current As8et8 14 (540) 11A95 10,230 Total Assets less Current Llabllltle8 11.559 10,413 The funds of the charlty Unrestricted income funds Total charfty funds 11.559 10,413 11.559 10A13 For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records that comply with section 386 of the Act and for preparing financial statements that give a true and fair view of the state of affairs of the company complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure. 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 statements, so far as applicable to the company. 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. These financial statements have been prepared in accordance with the provisions appluble to companies subject to the small companies. regime. Approved by the Trustees on 5th November 2024 Rev Dr N Hamilton Trustee
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Charlty Infomiatlon Contemporary Christianity (Northern Ireland) Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office if 48 Elmwood Avenue, 6AZ, Co. Antrim, BT9 6P2, Northem Ireland. (a) Accountlng Conventlon The accounts have been prepared in accordance with the Charity's governing document, the Companies Act 2006 and '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)° (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS102. The charty has tsken advantage of the provisions of the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements 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. (bl Golng concern At the tie of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. {¢) Charltable funds Unrestricted funds are available for use at the discretion of the trustees in fvrtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. (d) Incoming resources Incorne is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless performance conditions required deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related tsxes. (e) Resources expended Expenditure Is recognised as soon as there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities wmprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indlrect nature necessary to support them. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. (fj Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment issues. Depreciation is recognised so as to vKite off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and ffttings Computers 20% straight line 200h straight line The gain or loss on the disposal of an asset is detemined as the difference between the sale proceeds and the carying value of the asset, and it is recognised in net incomel(expenditure) for the year. (g) Impalrnient of fixed a888ts At each reporting end date, the charity reviews the carrying amounts of its tangible and intsngible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detennine the extent of the impairment (if any). (h) Stocks Stocks are stated at the lower of cost and estimated selling prices less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condits"on. Items held for distribution at no or nominal consideratton are measured the lower of replacement cost and {11 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-tsmi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. U) Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments" and Section 12 '0ther Financial Instruments Issues. of FRS102 to all of its financial instruments. Financial instruments are recognlsed in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities 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 the is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs are subsequently carried at amortised cost using the effective interest method unless the arrangement contributes 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. Baslc flnanclal Ilabllftlos 10
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 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 the 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 services that have been acquired in the ordinary counse of operations from suppliers. Amounts payable are classffied as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transacb'on price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnancl81 Ilabllftles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. crftlcal accountlng estlmates and Judgements In the application of the charity's accounting policS, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. 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 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. 3. Donatlon8 and legac186 2024 2023 Donatrons and gifts Trusts 4,374 360 4.734 5,881 360 6,241 Charltable actlvltlos 2024 2023 Sales within charltable activities 5. Inv08tments Unre8trlcted Fund8 2024 Unrestrlcted Fund8 2023 Interest receivable 10 11
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 6. Charltable actlvltle8 Unr88trlct•d Funds 2024 Unrestrfcted Funds 2023 Depreciation and impaiment Resources Opening Stock Closing Stock Subscriptions 119 503 100 (90) 85 717 119 1.160 120 (100) 229 1,508 Share of support cost5 (see note 7) Share of governance costs (see note 7) 2,671 210 3.598 3,246 653 SA07 7. Support ¢08ts Support Govornance Costs ¢08ts 2024 2023 Basls of allocatlon Rent Insurance Bank interest & charges Printing, Postage, Photocopying & Stationery Sundry Expenses Independent Examination Fees Legal and professional 1,320 300 42 1.320 300 42 1,320 1,009 1,009 1,588 540 Govemance 90 120 210 90 120 113 Governan Analysed between Charitable activities 2,671 210 2,881 3,899 Govemance costs include payments to the independent examiners of £90 (2023: £540) for accountancy fees. Trustses None of the Trustees (or any persons connected with them) recetved any remuneration or benefits from the charty during the year. Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Total 12
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 10. Tanglble flxed assets Comput8r8 C08t At 1 April 2023 At 31 March 2024 593 593 Deprgclatlon and Impalrnlent At 1 April 2023 Depreciation charged in the year At 31 March 2024 410 119 529 Carrylng amount At 31 March 2024 At 31 March 2023 183 11. Stocks 2024 2023 Finished goods and goods for resale 90 100 12. Debtors 2024 2023 Other Debtors Prepayments and accrued income 785 990 169 785 13. Crndltor8 2024 2023 Accruals 540 14. Analy8ls of net assets between funds Unrestrlcted Funds 2024 Unrestrlcted Funds 2023 Fund balances at 31 March represented by: Tangible assets Current assetsl(liabilities) 183 10,230 11.495 13
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 15. Related party transactlons There were no disclosable related paty transactions during the year (2023: none). 14