STATEMENT OF FINANCIAL ACTIVITIES FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Unrestrfcled Unrostrlet8d Funds Funds 2024 2023 Note Income from: Donations and Legacies Charitsble activitse$ Investments Total Income 4,734 6,241 10 4744 Expendlture on: Ch8ritable activities Not Incomo for tho yearlNat rnov¢ment In fund¥ 1.146 Fund balances brought forward Total fund8 ¢arrfod foNard 11 The statsment of financial activitios Includes all gains and losses in ts year. All income expenditure derive from continuing operations. The statement of financial activities also complles with the requlrements for an income and expenditure account under the Companies Ad 2006.
BALANCE SHEET FOR CONTEMPORARY CHRISTIANITY (NORTHER IRELAND) LIMITED AS AT 31 MARCH 2024 2024 2023 Tanglblo A88Ot• 11 Current as80ts Stocks Debtors Cash at bank and in hand Not a880ts 12 13 100 1.159 9,511 785 10.620 11.495 10,770 Currnnt Llabllltl88 Creditors.. amounts due within one year Nel Current 14 1540) 11,495 10,230 Totsl Asgets le Current Llabllttlo8 11.559 10M13 The funds of th• charlty Unrestricied income funds Total Gharlty fund8 11,559 10.413 11.569 IOA13 For the year endlng 31 March 2024, the company was entltled to exemptlon from audit under seclh 477 ofthe Companies Act 2006 r61ating to small companles. The d1CtOrS acknowledge their responsibilities for ensuring that the ¢harfty keeps accountlng re¢ords that Mmply with section 386 of the Act and for preparing financral ststements that give a true and fair vlew ofthe state of affairs of the company complying with the requirements of the Companies knt 2006 with spect to a¢untIng records and the preparation of a¢counts. Th a¢counts have been as at the end of the financial year and of Its incoming resources and application ol resources, including its income and expendliU. forthe financial year in accordan with the requirements of sections 394 and 395 and whkh otherwise comply with the requirements of the Companies Act 2006 relating to financial ststements, so f8r as appli¢8ble to the ccAnpany. The members have not required the company to obtain an alIt of its financial st8tements for the year In queslion in acwdan¢e with sectlon 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 224 Rev Dr N Hamllton Trustee
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Charlty Inform8tlon Contemporary Christianity (Northem Ireland) Limitsd 15 a private company limited by guarantse Incorporated in Northem Irelarthj. The registered office if 48 ElmWO Avenue. 6AZ, Co. Antrim. BT9 6AZ, Northem Ireland. (a) A¢countlng Convontlon The accounts have been prepared in accordance with the Charity's governirwj documonl, thé Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities pparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)° (as amended for accounting periods commencing from 1 January 2019). The charty is a Public Benefit Enbty as defined by FRS102. The charity has taken advantsge of the provision5 of the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows. The financial statements a prepared in slerling, which is Ihe 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 a Set out below. Ib) Golng ¢oncem At the tie of approving the financial statements, Ihe trustees have a reasonable expectation that the charity has adequ8te resources to continue in operational existence for the foreseeable future. Thus, the trustses continue to adopt the going conc8m basis of accounting in preparing thè financial statemènts. (c) Charltable funds unresth.cted funds are available for use at the discretion of the trustees in furtherance of their charftable objectives. Restrlthd funds are subject to specffic condibons by donors as to how they may be used. The wrposes and uses of the restricted funds are set out in the notes to the financi81 statements. Id) Incomlng rngouvce8 In¢ome is re¢ognlsed when the charity is legally entitled to it after any perfomian¢e conditions have been met, the amounts Can bè measured reliably, 8nd it is probable that income will be received. Cash donations are recognlsed on receipt. other donations are recogntsed once the ¢h8rity has been notified of the donation, unléss performance condittons required deferral of the amount. Income tsx recoverable in relation to donattons received under Gift Aid or deeds of Covenant is rewni8ed at the time of the donation. . Turnover is measured at the falr value of the consld8ration received or receivable and represents amounts re¢eNable for goods and services provided in th8 nonnal course of business, net of diBcounts, VAT and other sales related taxes. (ol Resources oxpendod Expenditure is recognised as soon as there is a legal or constructive oblwation to make a p8yment to a third party, it is probable that settlement wll be required and the amount of the obligation can b8 measured reliably. Expenditure is classified under th& following activity heading..
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY {NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charftable activitie5 comprises those costs incurred by the charty in the delivery of Its activltles and services for its beneficiaries. It includes bolh costs that can be allocated dlrectly to such activf(ies and those costs of an indlrect nature necessary to support them. Irrecoverable VAT is eharged 8s a cosl against the aclivlty for whh the exwdlture was incurr8d. (fj Tanglble fixed assets Tangible fixed assets arè initsally measured al cost and subsequently measured at cost or valuatlon, net of depréciation and any impainrent issues. Depreciation is recognwd so aslowrrte off the o)storvaluation olassets lessthelrresidual values over ttdr useful lives on the folkjwing bases: Fixtu$ and fittrngs Computers 20% straight line 20% str8ight line The gain or loss on the disposal of an asset Is determined as the difference betsveen the sale proceeds and th8 carying value of the asset, and it is recogni8ed in net incomel{expenditure) for the year. Ig) Impalrnient of IOx•d a680ts At each reporting end date, the charty reviews Ihe carying amounts of ils tanglble and intangible assets to detèrmine whether there is any indication that those assets have suffered an impainnent loss. If any such indication exists. the recoverable amount of the assel is estimated in order to detwmine the exteftt of the impairment (rf any). (h) 8tock8 stocks a stated at the lower of cost and estimated selling prices less costs to complete and sell. Cost MpriSeS direct mat8rials and. where appli¢able, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution al no or nominal consideration are measured the lower of replacement cost and cost {11 Cash and ¢a8h equlvalents Cash and cash equNalents Include cash in hand, deposits hèld at call with banks, other short-term liquid investments wlth original maturities of three month5 or188s, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. U) Flnanclal htruMents The charity has elected to apply the provision5 of Section 11 'Basic FinancHI Instruments" and Section 12'0ther Financial Instruments Issues, of FRS102 to all of its financial Instrnmènts. Financial instruments are recognised in the charity's balance sheet when thè charity becomes party to the contractual provisions of th& instrument. Financial assets and liabilities are offset, the net amounts presented in the financial statements. when there is a legally enforceable right to s&t 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. Baslc flnanclalassets Basic financial assets, which include debtors and cash and bank balanc69, are inrtially measured at transaction price including transaction costs are subseqUenY Carrted at amortised st Using th& effective inteTesl method unless the arrangement contributes a financing transaction. where the transaction is measured at the present value of the futu Ceipts discounted at a mathet rate of interesL Financial assets Classif as receivable wthin one year are not amortised. Baslc flnanclal Ilabllttle8 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 anS are initially recognised at transa¢lton price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at Ihe present value of the future payments discounted at the market rate of interesL Flnancial Ilabllfftles classif1 as payable wlhin on8 year are not amortised. Debt instruments ar8 subBequently carried at amortised cost, using the effectbve witerest rate method. Trade creditots are obligations to P8y for goods or services that have been acquired in the ordinary cours8 of operations from supp5ieTS. Amounts payable are classified as CUTrent liabilities if payment is du8 within onè year or less. If nol, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and sub8equenty measured at amortised cost uslng the effective interest method. Deregn10n of flnanclal Ilabllttles Financial liabilities are derecognised when the charity's ¢ontractual obli98tions expire or are diharged or cancelled. 2. cr1t11 accountlng osllmatgs and Judggmgnts 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 sources. 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 estimale8. Thé estimatss and undèrlying assumptions aré reviewed on an ongoing basis. Revisions to accounting èstimates 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. Don•tlon8 and18gacl88 2024 2023 Donations and gifts Trusts 4,374 360 4,734 5,881 360 6,241 4. Charllablo actlvlll•8 2024 2023 Sales within chadtabte activities 5. Inve•lm•nts Unre¥trlctgd Fund8 2024 Unrnslrfctgd Funds 2023 Interest receivable 10 11
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) UMITED FOR THE YEAR ENDED 31 MARCH 2024 6. Charltable acllvltles Unre8trl¢ted Funds 2024 Unve$trf¢ted Funds 2023 Depreciation and impaimierrt Resourtss Opening Stock Closing Stock Subscriptions 119 503 100 (90} 85 717 119 1,160 120 (100) 229 1,508 Share of support costs (see note 7} Share of govemance costs (see note 71 2,671 210 3,$98 3,246 653 7. Support ¢08ts Support Gov?rn•n costs 2024 2023 Ba8b of allocatlon Rent Insurance Bank interest & charges Printing, Poslage, Photocopying & Staltonery Sundry Expenses Indep8ndent Examination Fees Legal and professional 1,320 300 42 1.320 300 42 1,320 1.009 1,009 1,588 540 Govemance go 120 210 90 120 113 Govamance Analysed belween Charitable activrtie$ 210 Govemance costs include payments io the independent examinets of £90 (2023.. £5401 for accountancy f86S. None of the Truste8s (or any persons connectsd wth them) received any remuneration or beneffts from the chaiity during the year. Employoe8 The average monthly number of empbyees durhg the year was: 2023 Number NumbBr Total 12
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIPIIITED FOR THE YEAR ENDED 31 MARCH 2024 10. Tanglblo Ilxod asoots Computer• Ct At 1 April 2023 At 31 March 2024 593 593 Depreclatlon and Impalnmnt At 1 April 2023 Dèpreciation charged In the year At 31 Marth 2024 410 119 529 Cafrylng amount At 31 Marctt 2024 At 31 March 2023 183 11. PAocks 2024 2023 Flnlshed gry)ds and goods for resale 100 12. Dthor4 2023 other Debtors Prepayments and accrued income 785 990 169 13. Crodltor8 2023 Accruals 1aL Analy818 ol not as80ts b•tWOon fundo Unrn8trfctsd Funds 2024 Unre8trlct Funds 2023 Fund balances at 31 March represented by.. Tangible assets Current assetsllliabilitses) 183 10,230 11,559 13
NOTES TO THE FINANCIAL STATEMENTS FOR CONTEMPORARY CHRISTIANITY (NORTHERN IRELAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2024 15. Relatod party tran8a¢tlons There were no disclosable related paty transactiong during the year {2023: none). 14