CHARITY REGISTRATION NUMBER: NIC100797 North Down CFC Unaudited Financial Statements 31 March 2024
North Down CFC Financial Statements Year ended 31 March 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Page 1 North Down CFC Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name North Down CFC Charity registration number NIC100797 Principal office 3 Glenford Way Newtownards Co Down BT23 4BX The trustees A Beattie Mrs A Bartlem Mr M Kennedy Mr G Haire Mr5 L Duff Mr S Martin Independent examiner Ms E Mulholland for and on behalf of 2161218 Holywood Road Belfast BT41PD structure, governance and management North Down CFC, which is registered as a charity with the Charity Commission for Northern Ireland, was established as a church by Trust Deed dated 30 July 1993. The elders exercise spiritual 'watchcare' over the church while the trustees have overall legal and financial responsibilities. The church principally draws its members, volunteers and rneeting attendees from Northern Ireland's Ards and North Down area. The first trustees were appointed by the settlor of the trust. Additional and replacement trustees are appointed by a simple majority resolution of existing trustees. Trustees do not have a term of office and are not subject to re-election.
Page 2 North Down CFC Trustees, Annual Report (contlnuedj Year ended 31 March 2024 Objectives and activities North Down CFC was formed to advance the Christian faith in Northern Ireland and elsewhere by.. holding church services and public meetings for praise, worship, bible teaching, prayer, healing and fellowship., providing activities, education and teaching for children and young people,. providing other facilities in the interests of social welfare which are in sympathy with the other aims and objects of this Trust Deed with the object of improving the conditions of life for the persons for whom the facilities are primarily intended and who have need of such facilities by virtue of their age, infirmity, poverty or social and economic circumstances., and such other charitable acts and things as will (or will tend to) promote or encourage the Christian faith. Achievements and performance We identified need in line with our Trust Deed aims and objectives and have created, in partnership with the local community, a strategy we consider will meet our charitable objectives and activities as well as the needs of people living in Northern Ireland. Throughout this year we have remained committed to meeting our objectives and priorities. Our strategic plan and Operational Report both indicate our passionate commitment to continue our work and see positive changes in the lives of the people we we work with. We continued to meet on a Sunday at our Sunday Gathering, which is committed to extending a welcome to everyone and remaining inclusive and open. We have continued to support and encourage the Christian church at home and overseas, and remain in close contact with other local churches, and those further afield. We carefully considered, as we do every year, the Charity Commission for Northern Ireland's guidance on public benefit to ensure we were meeting our statutory and legal obligations. Through the activities we have delivered in 2023124 we have worked together to further the charities purpose and provide benefit to all who are beneficiaries from it. We remain committed to upholding these principles. Financial review Incoming resources from donations for the year totalled £33,991 and expenditure for the year amounted to £13,068. Unrestricted reserves at 31 March 2024 totalled £62,972 of which £35,160 had been designated to various funds at the year end. Reserves Policy Building and holding reserves is an integral part of financial planning within North Down CFC. Reserves ensure that we have adequate funds available for planning for growth and to deal with opportunities as they arise. It is the policy of the church that designated reserves, should be maintained at a level which ensures the charity's core activity could continue during a period of unforeseen difficulty. The Trustees aspire that the Charity should hold in a designated reserve of an amount not less than £5,000 to minimise the risks identified to the Charity.
North Down CFC Page 3 Trustees, Annual Report (eonllnued) Yoar ended 31 March 2024 Plans lor future pgrfods The church will continue to build on the successes to date in the Comi ing year by continuing to serve the local communtiy. We remain COThi mitted to meèling our charitable objectives espeThally our response to need and impacting those identified needs. Ackno*ledgement8 Appreciation is eXpssed to the elders. leaders and many members of the church who have put in so much time and effort durfng the past year. rIoUt this help, the church would be ineffecbve. The trustees express their appreciation for the faithfvlness in giving by many members of the church. Rogponslbilltl88 of the Trust&es The cliarity's trustees are responsible for preparing the Trustee8 Annual Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year. Under that law the tnjstees have elected to prepare the financial statements in accordan whh United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Stsndards and applicable law). The trustees must not approve the financial statements unless they are satisfied thal they give 8 true and fair view of the stste of affairs of the charkty and the income and expenditure of the charity for that period. In preparing these financial 5tatemenis. the trustees are required to.. select suilable accounting policies and then apply them consistently.. observe Ihe method$ and principles in the Charifries SORP., make judgements and accounting estimates that are reasonable and prudent., Stale whelher applicable accounting standards ha'Je been followed, subject to any material departures disclo5j and explained in the financial statements.. prepare the financial statements on the going concern ba81$ unless it is inappropriate to presume that the charty will continue in operalion. The trustèés are respsible for keeping adequate accounting records that are 8uffi¢ient to show and eyplain the charity's transactions and disclose with reasonable accuracy at any time the financlal position of the charity and enable them to ensure that the financial statements comply with Ihe Charitles Act (Northem Ireland} 2008. They are also resporysible for saleguarding the assets of the charfty and hence for taking reasonable steps for the prevention and detection of fraud and Otr irregularities. The trustees, annual report was approved on 2 Sep16mber 2024 and Signed on behalf of the board of tNbtee5 by.. attie Trustee
Page 4 North Down CFC Independent Examiner's Report to the Trustees of North Down CFC Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of North Down CFC ('the charity,) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (the '2008 Act'l. You are satisfied that your charity is not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{9)Ibl of the 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept as required by with section 63 of the 2008 Act- or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of the 2008 Act., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. wlholLcKvKcL Ms E Mulholland for and on behalf of Independent Examiner 2161218 Holywood Road Belfast BT4 1PD
Page 5 North Down CFC Statement of Financial Activities Year ended 31 March 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Donations and legacies Total income 33,991 33,991 33,991 32,192 33,991 32,192 Expenditure Expenditure on charitable activities Total expenditure 13,068 13,068 13,068 13,068 36,747 36,747 Net incomel{8xpenditure) and net movement in funds 20,923 20,923 {4,555) Reconciliation of funds Total funds brought forward Total funds carried forward 42,049 42,049 46,604 62,972 62,972 42,049 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 11 form part of these financial statements.
Page 6 North Down CFC statement of Financial Position 31 March 2024 2024 2023 Not& Current assets Debtors Cash at bank and in hand 9,302 58.422 67.724 44,300 10,717 55.017 Creditors: amounts falllng due wlthln one year Net current assets 10 4,752 12,968 42,049 42,049 62,972 62,972 Total a89•ts 1g8s curront liabillti08 Net assets 62.972 42,049 Funds of the charity Unrestricted funds 62.972 42.049 Total charlty funds 12 62.972 42,049 These financial statements were approved by the board of trijstees and aulhorised for issue on 2 September 2024. and ar6 signed on behalf of the board by: attie Truslee The notÈ¥ on pages 7 to 11 form part of the•e fin8n¢l•l $tat¢ments.
Page 7 North Down CFC Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 3 Glenford Way, Newtownards, Co Down, BT23 4BX. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 102) (Charities SORP IFRS 102)) and the Charities Act (Northern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity- Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial ststements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of Imo sub-classes.. restricted income funds or endowment funds.
Page 8 North Down CFC Notes to the Financial Statements (¢ontlnued) Year ended 31 March 2024 Accounting policies (continuedj Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when retsipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Page 9 North Down CFC Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (¢ontinuedJ Government grants (continued) Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Vvhere the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments d15counted at a market rate of interest for a similar debt instrument. other financial instruments are subsequently measured at fair value, with any changes recognised in the slatement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Page 10 North Down CFC Notes to the Financial Statements (continued) Year ended 31 March 2024 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Offerings and donations Special donations 24,866 9,125 24,866 9,125 26,171 5,271 26,171 5,271 Grants Government grant income 750 750 33,991 33,991 32,192 32,192 Expenditure on charitable activltles by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Charitable activities 13,068 13,068 36,747 36,747 Expenditure on charitable activities by activity type Activities undertaken Total funds directly 2024 Total fund 2023 Charitable activities 13,068 13,068 36,747 Staff costs The average head count of employees during the year was Nil (2023: Nill. No employee received employee benefits of more than £60,000 during the year12023.' Nil). Trustee remuneratlon and expenses No trustees received remuneration or other benefits through employment with the charity. Debtors 2024 2023 Prepayments and accrued income other debtors 6,599 2,703 9,302 23,770 20,530 44,300
North Down CFC Page 11 Notes to the Financial Statements {continuedJ Year ended 31 March 2024 10. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Other creditors 923 7,187 4,858 4,752 4,752 12,968 11. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2024 2023 Recognised in income from donations and legacies= Government grants income 750 12. Analysis of charitable funds At 1 April 2023 Income Expenditure Transfers At 31 March 2024 Unrestricted Funds Charity Reserve Buildings Fund Donation fund 10,474 33,991 {9,228} (7,425) 5,000 5,160 (2,735) 27,812 5,000 5,160 25,000 62,972 31,575 (3,840) {13,068) 42,049 33,991 At 1 April 2022 Income Expenditure Transfers At 31 March 2023 Unrestricted Funds Small grant fund 16,524 30,080 31,442 750 111,492} (26,000) (25,255) 26,000 10,474 31,575 46,604 32,192 (36,747)) 42,049
North Down CFC Page 12 Notes to the Financial Statements (contlnued) Year ended 31 March 2024 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 67,724 (4,752) 62,972 67,724 {4,752) 62,972 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 55,492 112,968} 42,524 55,492 (12,968> 42,524