REDEEMER CENTRAL
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
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Unrestricted Restricted Total Total
funds funds funds funds
2025 2025 2025 2024
Note £ £ £ £
Income from:
Donations and legacies 3 113,786 15,000 128,786 124,480
Charitable activities 4 23,428 - 23,428 20,237
Total income 137,214 15,000 152,214 144,717
Expenditure on:
Charitable activities 5 114,687 2,280 116,967 112,030
Total expenditure 114,687 2,280 116,967 112,030
Net income 22,527 12,720 35,247 32,687
Transfers between funds 14 (20,500) 20,500 - -
Net movement in funds 2,027 33,220 35,247 32,687
Reconciliation of funds:
Total funds brought forward 49,377 16,291 65,668 32,981
Net movement in funds 2,027 33,220 35,247 32,687
Total funds carried forward 51,404 49,511 100,915 65,668
The Statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 13 to 24 form part of these financial statements.
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REDEEMER CENTRAL (A company limited by guarantee) REGISTERED NUMBER: NI623785 BALANCE SHEET AS AT 31 MARCH 2025
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2025 2024
Note £ £
Fixed assets
Tangible assets 10 47,778 6,801
47,778 6,801
Current assets
Debtors 11 7,148 4,118
Cash at bank and in hand 55,074 64,947
62,222 69,065
Creditors: amounts falling due within one
year 12 (9,085) (10,198)
Net current assets 53,137 58,867
Total assets less current liabilities 100,915 65,668
Net assets excluding pension asset 100,915 65,668
Total net assets 100,915 65,668
Charity funds funds
Restricted funds 14 49,511 16,291
Unrestricted funds 14 51,404 49,377
Total funds 100,915 65,668
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Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds funds
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Total funds
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
W J Griffin
Trustee
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S Adebambo
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Trustee
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REDEEMER CENTRAL
(A company limited by guarantee)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
Date: 16/12/2025
The notes on pages 13 to 24 form part of these financial statements.
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REDEEMER CENTRAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1. General information
Redeemer Central is a charitable company limited by guarantee and is incorporated and registered in
Northern Ireland under Company Registration Number NI623785. It is a registered charity number
NIC100831 with the Charity Commission for Northern Ireland and is a registered charity number XT28326
with HMRC.
The charitable company's registered office is situated at 101 Donegall Street, Belfast, Antrim, BT1 2FJ.
The charitable company's principal activity continued to be the advancement of the Christian faith.
The members of the company are the subscribers as listed in the Memorandum and Articles of
Association. In the event of the company being wound up, the liability in respect of the guarantee is
limited to £10 per member of the company.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) -
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) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Redeemer Central meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy.
2.2 Going concern
The company's charitable activities, together with the factors likely to affect its future development,
performance and position are set out in the Trustee's Report.
The Charity meets its day to day working capital requirements through its voluntary income. The
current economic conditions create some uncertainty over the levels of funding that will be available
for future periods, although the Trustees are of the opinion that the Charity's activities for generating
funds will continue to provide adequate funds
The Trustee's have a reasonable expectation that the Charity has adequate resources to continue in
operation for the foreseeable future. Accordingly the Trustees continue to adopt the going concern
basis in preparing the annual reports and accounts.
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they
are distributed to the projects. Gifts donated for resale are included as income when they are sold.
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REDEEMER CENTRAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs, including
support costs involved in undertaking each activity. Direct costs attributable to a single activity are
allocated directly to that activity. Shared costs which contribute to more than one activity and support
costs which are not attributable to a single activity are apportioned between those activities on a
basis consistent with the use of resources. Central staff costs are allocated on the basis of time
spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the
company and include project management carried out at Headquarters.
Governance costs are those incurred in connection with the administration of the company and
compliance with constitutional and statutory requirements.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £200 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model,
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, .
Depreciation is provided on the following bases:
Fixtures and fittings - 5 years (estimated useful life)
Computer equipment - 3 years (estimated useful life)
Other fixed assets - 5 years (estimated useful life)
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
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REDEEMER CENTRAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2. Accounting policies (continued)
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.9 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The company operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the company to the fund in respect of the year.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
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REDEEMER CENTRAL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. Income from donations and legacies
Unrestricte Restricted Total d funds funds funds 2025 2025 2025 £ £ £ Donations 77,465 - 77,465 Grants 22,000 15,000 37,000 Gift Aid Income 14,321 - 14,321 113,786 15,000 128,786 Unrestricted Restricted Total funds funds funds 2024 2024 2024 £ £ £ Donations 72,178 - 72,178 Grants 20,000 16,290 36,290 Gift Aid Income 16,012 - 16,012 108,190 16,290 124,480 Income from charitable activities Unrestricte Total d funds funds 2025 2025 £ £ Advancement of Education - - Advancement of Religion 12,565 12,565 Relief of Hardship 10,863 10,863 Total 2025 23,428 23,428
Donations Grants Gift Aid Income 4. Income from charitable activities
Advancement of Education
Advancement of Religion Relief of Hardship
Total 2025
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REDEEMER CENTRAL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. Income from charitable activities (continued)
Advancement of Education
Advancement of Religion Relief of Hardship
Total 2024
Unrestricted Total funds funds 2024 2024 £ £ 402 402 11,124 11,124 8,711 8,711 20,237 20,237
5. Analysis of expenditure on charitable activities Summary by fund type
Advancement of Education
Advancement of Religion
Relief of Hardship
Advancement of Education Advancement of Religion Relief of Hardship
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Unrestricte Restricted
d funds funds Total
2025 2025 2025
£ £ £
5,408 - 5,408
104,714 2,280 106,994
4,565 - 4,565
114,687 2,280 116,967
Unrestricted
funds Total
2024 2024
£ £
5,822 5,822
98,163 98,163
8,045 8,045
112,030 112,030
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REDEEMER CENTRAL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. Analysis of expenditure by activities
Advancement of Education Advancement of Religion Relief of Hardship
Advancement of Education Advancement of Religion Relief of Hardship
Analysis of direct costs
Staff costs
Direct charitable costs Building costs Crisis relief expenditure Justice Fund expenditure Farmbox expenditure Stay and Play expenditure The Long Table expenditure
Activities undertaken Support Total directly costs funds 2025 2025 2025 £ £ £ 5,408 - 5,408 56,896 50,098 106,994 4,564 - 4,564 66,868 50,098 116,967 Activities Grant undertaken funding of Support Total directly activities costs funds 2024 2024 2024 2024 £ £ £ £ 5,822 - - 5,822 44,701 6,332 47,130 98,163 8,044 - - 8,044 58,567 6,332 47,130 112,030 Total Total funds funds 2025 2024 £ £ 31,930 29,023 11,230 10,123 7,771 4,149 1,542 3,037 1,130 1,775 11,243 7,227 - 577 2,023 2,656 66,869 58,567
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REDEEMER CENTRAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. Analysis of expenditure by activities (continued)
Analysis of support costs
Total Total funds funds 2025 2024 £ £ 19,574 13,251 4,621 2,590 4,045 3,985 640 701 14,407 19,806 49 197 1,908 989 4,854 5,611 50,098 47,130 of £1,576 (2024 2025 2024 £ £ 50,004 41,118 1,500 1,158 51,504 42,276 follows: 2025 2024 No. No. 3 3
Staff costs Depreciation Direct charitable costs Other support costs Building costs Other costs Sundry expenses Governance costs
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,576 (2024 - £1,530), and accountancy fees of £2,041 (2024 - £3,142).
8. Staff costs
Wages and salaries Contribution to defined contribution pension schemes
The average number of persons employed by the company during the year was as follows:
Employees
No employee received remuneration amounting to more than £60,000 in either year.
Details relating to the remuneration of key management personnel are disclosed in Note 19 of the financial statements.
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REDEEMER CENTRAL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. Trustees’ remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
10. Tangible fixed assets
Fixtures and Computer Other fixed fittings | equipment assets Total £ £ £ £
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Cost or valuation
At 1 April 2024 20,134 6,818 18,004 44,956
Additions 45,598 - - 45,598
At 31 March 2025 65,732 6,818 18,004 90,554
Depreciation
At 1 April 2024 15,196 5,815 17,144 38,155
Charge for the year 3,685 522 413 4,620
At 31 March 2025 18,881 6,337 17,557 42,775
Net book value
At 31 March 2025 46,851 481 447 47,779
At 31 March 2024 4,938 1,003 860 6,801
Debtors
2025 2024
£ £
Due within one year
Trade debtors 945 600
Other debtors 4,932 2,355
Prepayments and accrued income 1,271 1,163
7,148 4,118
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At 31 March 2024
11. Debtors
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REDEEMER CENTRAL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. Creditors: Amounts falling due within one year
2025 2024 £ £ 1,700 1,456 290 1,897 7,095 6,845 9,085 10,198 2025 £ 55,074
Other taxation and social security Other creditors Accruals and deferred income
13. Financial instruments
Financial assets
Financial assets measured at fair value through income and expenditure Financial assets measured at fair value through income and expenditure comprise of cash at the bank.
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REDEEMER CENTRAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. Statement of funds
Statement of funds - current year
Balance at Balance at 1 Transfers 31 March April 2024 Income Expenditure in/out 2025 £ £ £ £ £
Unrestricted funds
Designated funds Justice Fund 2,979 1,430 (1,000) (2,249) 1,160 Crisis Relief 968 2,450 (1,542) (590) 1,286 The Long Table 2,016 6,982 (2,023) (2,431) 4,544 Stay and Play 253 - - (253) - Farmbox 347 11,908 (11,243) (171) 841 Lesser Heard 402 - - (402) - Subsidised Hire 803 - - (803) - Building Fund - 14,450 (2,914) (3,102) 8,434 7,768 37,220 (18,722) (10,001) 16,265 General funds General Fund 41,609 99,994 (95,965) (10,499) 35,139 Total Unrestricted funds 49,377 137,214 (114,687) (20,500) 51,404 Restricted funds Grants 16,291 15,000 (2,280) 20,500 49,511 Total of funds 65,668 152,214 (116,967) - 100,915
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REDEEMER CENTRAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
15. Summary of funds
Summary of funds - current year
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Balance at
Balance at 1 Transfers 31 March
April 2024 Income Expenditure in/out 2025
£ £ £ £ £
Designated funds 7,768 37,220 (18,722) (10,001) 16,265
General funds 41,609 99,994 (95,965) (10,499) 35,139
Restricted funds 16,291 15,000 (2,280) 20,500 49,511
65,668 152,214 (116,967) - 100,915
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricte Restricted Total
d funds funds funds
2025 2025 2025
£ £ £
Tangible fixed assets 4,558 43,220 47,778
Current assets 55,931 6,292 62,223
Creditors due within one year (9,085) - (9,085)
Total 51,404 49,512 100,916
Analysis of net assets between funds - prior year
Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Tangible fixed assets 6,801 - 6,801
Current assets 52,775 16,290 69,065
Creditors due within one year (10,198) - (10,198)
Total 49,378 16,290 65,668
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16. Analysis of net assets between funds Analysis of net assets between funds - current year
Tangible fixed assets Current assets Creditors due within one year Total
Analysis of net assets between funds - prior year
Tangible fixed assets Current assets Creditors due within one year
Total
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REDEEMER CENTRAL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered Trust. The pension cost charge represents contributions payable by the company to the Trust and amounted to £1,500 (2024: £1,158). Contributions totalling £290 (2024 £240) were payable to the Trust at the balance sheet date.
18. Operating lease commitments At 31 March 2025 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
2025 2024 £ £ Not later than 1 year 5,910 4,857 Later than 1 year and not later than 5 years 23,639 19,429 Later than 5 years 38,145 33,596 67,694 57,882
19. Related party transactions Two of the company's directors, David Armstrong and Daniel Saunders were employed by Redeemer Central during the year. The total remuneration paid to David Armstrong was £31.000 (2024: £28,180) and employer contributions of £930 (2024: £845) were paid to a defined contribution pension scheme on his behalf. The total remuneration paid to Daniel Saunders was £14,718 (2024: £8,925) and employer contributions of £442 (2024: £268) were paid to a defined contribution pension scheme on his behalf. These directors were not involved in decision-making with respect to their own remuneration. Remuneration has been paid in accordance with the provisions of Article 7.2 of the company's Articles of Association.
20. Controlling party
The charity is under the control of the Board of Trustees who are also Directors of Redeemer Central.
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