CONTEMPORARY CHRISTIANrrY (NORTHERN IRELAND) LIMITED STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EIVDED 31 MARCH 2023 UnT•Mrlct•d Unrestricted funth funds 2023 2022 Income from: Donations al legacles charitab actiwtie5 Investments &241 6.477 62 Totsl Sncom• 6,250 6,S45 Ex endityre on: Ctsrltablè ictivllies 5.407 4,B48 N•t Incobrn lor th• y¢arl N•t m•v•m•nt In fvnds 1,697 Fund balanc•s at l Aprll 2022 9,570 7,873 Fund bml•nc•s at 31 M•r¢h 2023 10,413 9,570 Thè statement of flnandal actmties indleS aN galns and bsses recognlsed Sn the year, All Incom• )nd eXpeThJur• derlve from continuing adTrvllle The staternent of finandal actIvleS also complles with the requiréments for an Income and eypenditure ccount under the Companies Aci 2CQ6.
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED BALANCE SHEEr ASA T31 MAKCH2023 2023 2022 Notss Tangible assets 11 183 Stocks Debtors Cash bt bank and in hjnd 12 13 100 1,163 8,545 1,159 9,511 10.770 Cmdltorx amounts hlllfftg du• wlthln one yJr 14 15401 Net cuNent •ssets 10230 9,268 Totsl •ss•ts l•H curt Il•blNtl•s IOA13 9,S70 Income lunds UnTestTlcted bljnds 10,413 9,570 10,413 9.570
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED BALANCE SHEET (CONTINUED) ASA r31 AIARCH 2023 The cotnpany 15 entitled to the exemption from ihe audlt requirement contained In section 477 of Companies Act 2006, for the year ended 31 March 2023. The dSiéaors acknowledge their re5ponsibilltles for ensurin9 that th8 charity keeps accounting fecords which Comply th section 386 of the Act and for preparing financial statements v4hSch give a true and fair view of the stale of affair5 of the company as at the end of the financlal year and of its incoming resourc85 and application of sOUrceS including its income and expendItu, for thè financial year In accordancè with the reqUirnents of Sections 394 and 395 and which otheThvise comply wth the requirements of the Compani Act 2006 fehting to firbanctsl statement% so far as applicable to thè compary. The member5 have not requlred the cornpjny to obialn an )udSt of its financial statement5 tor the hear In question accdance with sedon 476. Th• Ilnonclal statements have prep)r•d Sn accordanc• th tho prowsion5 applkable to comFonies subJ•ct to the small ¢ompJrties rnglme. The financial statements were approved by the Tfu5te•s on ........-. .....-. .. Drj Ky Twurtm Compony R•glgtratlon No. 14137038 10-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢¢auntirvJ p¢U¢l•s Charlty lfilonnatlon ContempoTary Christianity (Northem Ireland) timited Is a private cgmpany limited by guarantee Sncorporated in Northem Ireland. The reglstefed office is 48 Elmwood Avenue, BelfJsL Co. Antrim. BT9 6AL Northern IrelatJ. 1.1 Accountlng conventlon The accounts have be&n prepared in accordance wrth the charivs governing documen¢ the Companies Act 2CIJ6 and "Accounting and Reporting by Charities.. Statement ol ReC0mffDded Practice applicable to charities preparfng their accounts sn accordance wlth the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021" las amended for accounting periods commenting from 1 january 2019). The charity Is a Public Benefit Entty as defined by FRS 102. The tharity ho5 taken advanta9e ol the prowsions in the SORP for thoritiès applying FRS 102 Updats BuNttin 1 not to preparè a Statement of Cash FIcw5. The finanthal statemènts are prepared in sterling, whSch is the funCtnal currency of the charlty. Monetary arnovnts in tse financial ststements arè rounded to the neAr¢st £. The financial statements hav• been prepared under the historical cost conventlon. The princlpal accountirrfj pollcles adopted are set out below. 1.2 Golng conc•rn At the time ol apprown9 the financial slatemènts. the trustees have a reasonable expectatbn that the charity has adequate resources to continue in operatioral emlstence for the foreseeable luture. Thus the trustees contlnue to adopt the g¢ir4J concem basis of accounting In piepadng the finandal statemen 1.3 Charltabl• funds Unrestricted funds are available for use at the di5CTetion of the truste In fiJrthef)nce of their charitable tsbje¢live5. Restrlcted funds are subject to specific conditions by donor5 a5 to how thty mjy be used. The purposes and uses of the restrkted fund5 a set out in the notes to the flnanclal st*ements. Endowment furHls arè subject to specific CDndition5 by donors that the capltal must be maintained by the charity. 1.4 IKomlng resour$ Income is reco9nised when the charity is legally entitled to it after any perfomance conditions hwe been mel the arnounts can be measured reliablyi and it is wobable that income wll be received. Cash donations are recognised on receipt. Other donatiorb5 are recogni5ed once the charity ha5 been notified of the donation. unles5 performance conditiDns requirè deferral of the amount. Income ta coverable in relation to donations recewed under Gift Aid or deed5 of covenant 15 recogniged at the time of the donatitsn.
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE Y£4R ENDED 31 MARCH 2023 A¢countlng polkhs Icontlnu•d} Turnover is measured at the fair value of thè consideration received or receivable and IÈprests mounts receniable for goods and 5eNice5 provided In the nomal course of busine55. net of discounts, VAT and other sales related tsxe& 1.5 Resourc•s •xp•nd•d E¥pènditure is recognised once th•re is a legal or constnjrtlve 019?110n to make a paYnt to a thlrd party, It Is prpbable that settlemènt will be required and the amount of the obligation can be measured reliably. Expenditure 55 csSified under the followino actfvity heading.. Expenditure on charitable activhles comprise5 those costs Incurred by charity in the delwery of its attivitie5 and 5eNces lof Its bthellclarfos. It Includes tTh costs that can be allocated directty to such artlvltles aTKI th05è Coms ol an Indlrect nature necessary to supptsrt thèm. Irrecoverable VAT Is charged as J C05t a9&inst the actlvlty for which the expenditur• was incurred 1.6 Intanglbl• fix•d •ss•ts oth•r than goodwlll Intan9ible assets acqulTtd separatety from b buslness are iecognised Jt cost and are subsequent asured at cost 5S accumulbted amortisatlon and accumulated impairmeni losse Intsngible èssets acquired on buslmss combirt8tSon5 are recogn15ed sepJrately from goodwlll at the cquisition date where f( is probable that the expected fijtuie economlc bénèflts that are attributable to the asset will flow to the entity and the fair value of the assèt can m•)sured reliabty. the Intangibl• asset arlses frorn contrartual or other légal rlghts.. and the Intangible asset15 5epafable from the •ntity. Amort15atlon 15 recognised so as to writè off the cost or valuation ol assets less thelr rèsldual values over thelr useful Ilves on the follo¥thng base& Software 20% Straight Une 1.7 T•nglble Ilx•d a55ets Tangible ftxed as5•ts are inf(ialty measufed at cost and subsequently meisured at cost or vabJailoTr n•t of dePCIatIon Jnd ary Impairment losse5. Depreclation is recognised 50 a5 to write off the cost Dr valuation of assets less thelr resldual values over their useful lives on the folowng base Fixturès and flttings Computers 20% Strèighi 20% Straight Line The gain or Ioss arising on the disposal of an asset is determined as the difference betrrfeen thè sale proceeds and the carrying waiue of the as5eL and is recognised in net incomellempenditurel for the 3¢. 12-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) R)R fHE YEAR ENDED 31 MARCH 2023 ¢ountlng pollcl•s (Continued) 1.8 Impalrm•nt ol flx•d a%Mts At each rèptsrting end date, thÈ charity Tlew5 the carying amounts ol its tangible and intangible assets to determine wheiher there is any Indlcation that those assets have suffered an Impairmènt loss. If any such indicatlon exlstx the recoverable amount of the asset is estimated in order to dètermine the •4tent of the impairment bss Of any). 1.9 Sto¢ks Stocks are stoted at the lower of c95t and estimated %elllng price less costs to complete and sell. Cost compr15es direct materials and. where applicjble, direct labour costs and those overheads that have been Incurred in bringing the 51ock5 to their present location and condltSon. Items held lor distritryjtion at r or nominal considerntion ore meosured the I0r of replacement cost and cort Net rea115Jble value is the estqmated selllng wlce less all estlmated costs of cornpletlon and costs to be Incurred In marketingi selllng arKI di$trfb1o. 1.10 Cash and e•th •qulv•lenti C8sh and cash equfvalents Include cJ5h In hand, tJtpos6ts held at call wlth banks, other short-¢ern Ilquld Investments with original maturfties ol three months or less and bank overdraft5. 8ank overdrafts ¥e shown wlthln boffowln95 In cyrrent liabilities. 1.11 FInancl Initrum•nts The charfjty has elected to gppty tho provlslons ol Sectlon 11 'Basic Financlal In5trurnents' and SectSon 12 Other Financial Instruments Issues, of FRS 102 to all of its finandol Instruments. Financlal instNmenis bre recoynised in the charity's balance sheet when the tharity becomes paty to th• contractual Pfovlslons of the instrument. Finanoal asset5 and Ilabilitles are offset, wlth the net arnounts presented in the financial statements, when there is a legalty enforceable right to set off the retO9nised amounts ènd thère is an intèntion to settle on a net basis or to realise the asset and settle the liabllity slmultsne0us. Basic financial assÈt& which includè debtors and cash and bank baLince% are inityally measured at transactlon price including transactlon costs ènd are subsequently carried at ?mrtSsed cost using the effective Interest method unless the arrangernent constitute5 a financln9 trangactlon, where the transaction is measured at the present value ol the future receipts discount at a mathÈt rate of hteTe5L Financial assets classified as recewable wthin one year are not amortised. 13_
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE Y£4R EIVDED 31 MARCH 2023 Accountln9 pollci Icontlnued) Bask Ilabilities Basic financial liabilitle5, includirvj creditOTS and bank loans are initially recognised at trarfjaction price unless the arrangement constltwes a financing transaction, where the debt Instrumenl is measvred at the present value ol the fufvre p•ymnts discounted at a markét rate of Interest Financi81 liabilities dassified as payable within one year arè not amortised. Debt irstruments are subsequently carried at arnortlsed COSL usSng the effectlve Interest rate method. Trade creditors are obligatlon5 to pay for goods or saryices ihat have been acquired in the ordinary Course of operations from suppllers. Amounts payable are classified as current liabilities il payment is due Vllthin one year or less. If not, they are presented as non-current IlabS1ities. Trade credltors are recognised nltially at trans&ctK)n price and sUbsequenY mèasured at amortlsed cost Thg the effective interest method. DW8gnItIOn Offin(la4 Aablllths Financial liabi1Stle5 ale derecognsséd wh•n the charfty's contractual obllgations explre or are d15charged or cancelled. Crltlcal Kcountlng •stlm•t•s •nd Judg•m•nts In the appllcloft of th charlty's accounting pollcl¢& thè trustees are requlréd to make judgeme)ts, estimate5 and assurnptlons about the carrylThJ amount ol assets aDd liabilities th¥4t are not readi ppaienl from other sources. The e5¢1matas and associated as5UrnPtions are based on historical experfencè and other factors that are considerèd to be relevant Artu41 results may differ from the estimates and undèrtyirrfJ assumptions are rewewed on an ongo5ng basis. Revisions to accounting estSmates are recognised in the périod in whlch the estimate Is revised where thè rèvision aftects only that period, or in the pÈriod ol thè revision and future period5 whére the revision affÈtts both current and future period5. Donatlons and l•gad•$ 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 31 MARCH 2023 Ch•rltsbl• xovlt Unr•strict•d h)com• 2022 Sole5 vjlthin charitoble activitles 62 Inv•5tm•nts Unv•strl¢t•d Unr*strfct•d lund$ funds 202> 2022 Intsrest recehable Charft•bl• •ctfvltl•J Unr•th•d Unr•thlctsd Fund Fub 2023 2022 Dèprec[atk and Impaiwment Resources Opèning St¢¢k Closirrfj Stock Subscrlptions 119 1,160 1¢X) 1100) 229 119 11)J 120 11001 85 1.508 324 Share of support cost5 (see note T) Share of govemance costs (see note 3,246 653 3.699 825 5A07 Is-
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EAIDED 31 MARCH 2023 Support ¢0sts Support Gov•rnance costs Z023 2022 Bas1$ of aloc•Uon Re Insurance Bank Interest & Charges Prfntlng, Postsge, Photocopying & Ststlonery Sundry Exwnsés 1,320 294 1,320 294 1,320 294 38 1.588 1,588 1034 13 Independent Examination Fees Legal and prolessiorwl Govemance $40 113 113 285 Govemjnee 3.246 653 3,899 4,524 Analysed between Charitable activitles 3.246 653 3,899 4,$24 Govemance costs Includas payments to the independent examinefs of £540 12022- £540) for accountsncy feas. Trust••% None of the trvstees lor any persons connected wlth them) ret*vtd any rèmunerallon or beneffts from the charity during the year. Employe•s The avÈra9è monthty number of emplo$ during the year was.. 2023 Numb•r 2022 Numb•r Total 18-
CONTEMPORARY CHRISTIANrrY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 MARCH 2023 10 Intsnglbl• Ilx•d asg•ts At 1 Aprm 2022 •nd 31 Mjrch 2023 Amortls•tlon •nd Imp•lrnwit At l April 2022 and 31 March 2023 Cvrying •moynt At 31 March 2023 At 31 Maich 2022 11 T•nglI¢ flx•d •ts Ct At 1 Aprfl 2022 593 At 31 Marth 2023 593 D•pr•cl•tlon and Imp•lrnw At 1 April 2022 Depretiation charged In thè year 291 119 At 31 March 2023 410 CJrryln9 •rnounl At 31 March 2023 At 31 March 2022 302 12 Stod(s 2023 2022 Flnlshed goods and goods for resale 3tJ) 100 17.
CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Dabtors 2023 2022 AnUnts falllng du• wlthSn one year. Othef debtors Prepayments and accrued ITMe 99) 169 990 173 1,1S9 1,163 14 ¥Jmounts hllln9 dy• wlthbn on• y•ar 2023 2022 Accrua15 and d•lerre(I Inco 540 15 Art•iysl> of n•t •sMts b•tw••n funds Unr•strlrt•d Unrestricted fund fund Z023 2022 Fund balances at 31 March 2023 ar8 r•prrf•ntsd ty. Tangible assets Current a55etsllliabllltles) 183 10,230 302 9,268 10.413 9,S70 16 R•lat•d pwty trans•dlons Ther8 wère no disclosablè rèlated paty transactions durln9 the year12022 - none). 18-